Investigation into Broker Michael Oppenheim

Have you been defrauded by JPMorgan Chase & Co broker Michael Oppenheim? If so, the securities attorneys of The White Law Group may be able to help.

According to 12News, Michael Oppenheim was arrested for allegedly stealing approximately $20 million from clients and using some of the money for personal investments and expenses. The United States Attorney’s Office for the Southern District of New York has charged Oppenheim with wire, securities, and investment adviser fraud, as well as embezzlement.

In addition to criminal charges, the Securities and Exchange Commission (SEC) has filed a complaint against Oppenheim alleging he abused his position and convinced some clients to withdraw millions from their accounts on false promises that he would invest their funds in safe and secure investment.

Furthermore, the SEC alleges that Oppenheim took illicit steps to conceal his fraud by creating false statements for clients. In one instance, the SEC alleged he transferred money from one client’s account to replenish the funds he had stolen.

Brokerage firms have a responsibility to adequately monitor their employees. When a broker commits fraud and steals from clients, the firm may be liable for negligent supervision and held liable for investment losses.

If you invested with Michael Oppenheim and would like to speak to a securities attorney about your potential to recover losses through Financial Industry Regulatory Authority (FINRA) arbitration, please call the firm’s Chicago office at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, please visit our website at www.whitesecuritiesfraud.com.