In April of 2015, our securities fraud lawyers
posted a blog about former J.P. Morgan adviser Michael J. Oppenheim (CRD# 3021013). Oppenheim was accused of stealing $20 million from his J.P Morgan customers.
Yesterday, Oppenheim pleaded guilty to one count of securities fraud and
one count of embezzlement for stealing what turned out to be around $22
million from his clients. The sentencing hearing has been scheduled for February.
Prosecutors accused Oppenheim of defrauding numerous clients over the course
of seven years. The clients expected their funds to be invested in low-risk
municipal bonds. Instead, Oppenheim allegedly used the money for his own
expenses and sent fake statements that showed profits earned to the clients.
Oppenheim was accused of using the funds to pay bills, pay for a home
loan, gamble, and pay other investors back.
To learn more about the Michael Oppenheim case, you can read some of our
previous blog posts:
If you invested and lost money with the advisement of former J.P. Morgan
adviser Michael Oppenheim, you may be able to take legal action to recover
losses. Our securities fraud attorneys at Meyer Wilson offer
free case evaluations in order to discuss the specifics of your situation. We can determine
if you have a case and explain how we may be able to help you move forward.