Falsified Accounts
Oppenheim covered up his scam for years by giving customers falsified account statements that showed other customers’ bonds, and by moving cash from one customer account to another to inflate balances, prosecutors said. The FBI called it playing “hide and seek” with customer money.
Oppenheim was charged with four counts of wire fraud, and one count each of embezzlement, securities fraud and investment adviser fraud.
When the charges were filed, JPMorgan said it was aiding customers who were affected by the theft.