Not all employees are honest, trustworthy people. Case in point: A recent report published at usatoday.com by Kevin McCoy about an Ex-JPMorgan adviser who has been charged with fraud for allegedly stealing $20 million from customers.
Michael Oppenheim, 48, took money from at least seven bank clients in a fraud scheme he operated from March 2011 to March 2015, federal prosecutors alleged.
He was arrested Thursday at his Livingston, N.J., home and brought to Manhattan federal court for an initial hearing, authorities said.
Oppenheim worked as a JPMorgan investment adviser from February 2002 through last month, the Securities and Exchange Commission said in a civil complaint. He advised approximately 500 clients who collectively kept roughly $89 million in assets under his management, according to a criminal complaint filed by Manhattan federal prosecutors.
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