Michael J. Oppenheim—Embezzling Money from Clients
Michael J. Oppenheim Allegedly Embezzled about $20 Million in Client Money to Fund His Own Brokerage Account
Michael J. Oppenheim allegedly embezzled about $20 million in client money in order to fund his own brokerage account according to a Federal Criminal Complaint currently under review by attorneys Joe Peiffer and Jason Kane.
Michael J. Oppenheim, 48, has been accused by Federal authorities of embezzling money from his clients over the last four years, and said authorities claim he informed clients that he was taking money from their accounts to invest mainly in low-risk municipal bonds, according to the Complaint.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Michael J. Oppenheim for allegedly embezzling client funds, and believe they may be able to assist some of his former customers seek compensation for their losses.
Former JPMorgan Chase broker Michael J. Oppenheim Allegedly Used Client Money to Pay Down the Mortgage on his New Jersey Home, Make Unprofitable Options Trades
Michael J. Oppenheim allegedly used about $20 million in client money to make unprofitable options trades and even went so far as to pay down the mortgage on his New Jersey home, according to a Federal Criminal Complaint currently under review by attorneys Joe Peiffer and Jason Kane.
Oppenheim, to cover up his fraud, and ensure that he could continue it, took steps to hide his theft from his customers, including creating fake account statements and transferring money from one customer’s account to another’s to replenish amounts he had stolen earlier, according to said Complaint.
In engaging in his scheme, Oppenheim allegedly violated sections of the Securities Exchange Act, according to the Complaint.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of embezzlement. They are currently investigating Michael J. Oppenheim for allegedly embezzling customer funds. 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 for their clients.
Investors who believe they lost money as a result of Michael J. Oppenheim for allegedly embezzling customer funds may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.
ThePeiffer Wolf Carr & Kane securities lawyers believe they may be able to assist some of his former customers seek compensation for their losses.