The Securities and Exchange Commission has charged a Miami financial advisor with misappropriating funds through a firm that specializes in representing sports figures, including Mike Tyson, the SEC announced Monday.

Brian J. Ourand, the former president of SFX Financial Advisory Management Enterprises Inc., which is owned by Live Nation, is charged with misappropriating at least $670,000 from three high-net-worth individuals. The firm primarily represents current and former professional athletes, the SEC says.

The investigation started when a client complained he could not use one of his credit cards, the SEC says.

The SEC has also issued a cease and desist order against SFX and its chief compliance officer, Eugene Mason, who are charged with failing to properly supervise Ourand. Without admitting guilt, SFX and Mason agreed to the order.

SFX was ordered to pay the SEC $150,000 and Mason was ordered to pay $25,000.

Tyson has sued Ourand and SFX for $5 million for taking money from him and causing him to lose potential income.

As the manager of several accounts, Ourand had authority to transfer money, pay bills and deposit checks. Ourand was given discretionary authority to trade in client brokerage accounts and gave clients advice about investing in securities. The SEC charges he used clients’ money for his personal expenses.

The SEC has ordered a hearing on the charges to determine if further administrative action is warranted.