Ex-JPMorgan adviser charged in $20M fraud

April 16, 2015 10:31 PM

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NEW YORK – A former JPMorgan Chase investment adviser was arrested Thursday on charges he stole $20 million from customers and spent the funds on unprofitable trading and other personal expenses.

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.

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