Investor Alert: Michael Oppenheim Indicted for Alleged Theft of Investor Funds

stockbrokers fraud lawyersFormer Stockbroker Michael Oppenheim Indicted; Allegedly Stole Money from Investors

Michael Oppenheim, an investment advisor formerly associated with J.P. Morgan Chase, has been charged with embezzlement and multiple counts of fraud in the United States District Court for the Southern District of New York in. A sealed complaint filed April 15, 2015 has been unsealed by an order of the court.

The Peiffer Rosca Wolf securities lawyers are preparing to take action on behalf of investors.

The criminal complaint reviewed by Peiffer Rosca Wolf alleges that from March 2011, up to and including March 2015, Michael Oppenheim willfully and knowingly embezzled from customers.

Michael Oppenheim abused his position of trust by inducing customers to invest in low-risk municipal bonds, the complaint further alleges. Instead of investing the money, however, he allegedly used the money for himself, including for personal expenses such as a home loan and his bills.

In furtherance of his scheme, Oppenheim allegedly provided clients with fraudulent bank account statements. In other cases, he allegedly withdrew money from clients’ accounts without their permission.

Oppenheim’s Alleged Scheme Ends

Oppenheim worked at JP Morgan Chase from about May 2004 until his termination on March 18, 2015. At the time of his termination, Oppenheim had some 500 clients, with collectively investments totaling in the neighborhood of $20 million, according to the complaint.

Oppenheim was arrested at his New Jersey home on April 16, 2015, according to media reports.

Regulatory records reviewed by the Peiffer Rosca Wolf lawyers indicate that at the time of this blog Oppenheim has not yet been publicly subjected to discipline outside of the criminal proceedings associated with these alleged crimes.

However, it is possible that he could be subject to discipline if violations of FINRA rules have been violated, regardless of the outcome of the criminal proceedings in which he is now involved.

Peiffer Rosca Wolf Investment Recovery Attorneys Investigating on Behalf of Investors

The Peiffer Rosca Wolf investor right lawyers have been investigating and are preparing to take action on behalf of Oppenheim investors.

Their investigation focuses on whether or not Oppenheim was reasonably supervised by his employer, JP Morgan Chase. “Brokerage firms have a duty to adequately supervise the investment professionals they hire and authorize to sell investments to the investing public,” said attorney Alan Rosca of the Peiffer Rosca Wolf firm.

“Failure to adequately supervise a stockbroker’s activities and detect and stop his misconduct can subject the broker’s employer to liability to victims of that broker,” said attorney Joe Peiffer.

At this time it is unclear how much money the government will be able to recover from Oppenheim himself. According to the allegations against him, it appears that much of the investor money is gone. The Peiffer Rosca Wolf attorneys plan to supplement any such recovery through private cases on behalf of investors against financial industry entities that might have failed to stop the alleged misconduct, in violation of their duties.

The Peiffer Rosca Wolf investment recovery attorneys have together decades of experience representing investors. With offices across the country, the Peiffer Rosca Wolf lawyers have represented together over a thousand investors who suffered losses as a result of investment fraud and broker misconduct. They have the expertise to handle a variety of legal proceedings, from class actions to FINRA arbitrations, and tailor the remedies they pursue to each investor’s individual situation.

They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover on behalf of their clients.

Michael Oppenheim investors are encouraged to contact the investor right attorneys at Peiffer Rosca Wolf, Alan Rosca and Joe Peiffer, for a free, no-obligation evaluation of their options, at 888-998-0520.

Alan Rosca (1157 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.