Employee Background Screening: Could It Have Helped JPMorgan?

Not all employees are honest, trustworthy people. Case in point: A recent report published at usatoday.com by Kevin McCoy about an Ex-JPMorgan adviser who has been charged with fraud for allegedly stealing $20 million from customers.

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.

He was arrested Thursday at his Livingston, N.J., home and brought to Manhattan federal court for an initial hearing, authorities said.

Oppenheim worked as a JPMorgan investment adviser from February 2002 through last month, the Securities and Exchange Commission said in a civil complaint. He advised approximately 500 clients who collectively kept roughly $89 million in assets under his management, according to a criminal complaint filed by Manhattan federal prosecutors.

Read the entire article here…

At Radius Investigations we always stress how important it is for businesses to conduct a thorough background check on all prospective employees. As a business owner you want to limit the likelihood that one of your employees will commit a crime against the business, other employees, your customers, etc. Proper employee background screening may also have the effect of limiting your liability against a claim of negligent hiring should one of your employees turn out to be a crook.

For more information about our employment background screening services call us today.