UPDATE 2-Ex-JPMorgan banker charged with taking $20 million from clients

April 16, 2015 4:57 PM

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NEW YORK, April 16 (Reuters) - A former investment adviser at JPMorgan Chase & Co was arrested Thursday and charged with taking at least $20 million out of client accounts and using it to unsuccessfully trade options and pay personal expenses, authorities said.

Michael Oppenheim, 48, was arrested at his New Jersey home, authorities said. He worked at the bank nearly continuously from 2002 until last month, according to a criminal complaint for fraud and embezzlement filed in Manhattan federal court.

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