A former investment adviser at JPMorgan Chase is expected to plead guilty in September, after federal prosecutors in New York charged him with taking at least $22m out of client accounts to use for his own purposes.
Reuters reports that a lawyer for Michael Oppenheim and a prosecutor told U.S. District Judge Analisa Torres at a court hearing last week that their negotiations have gone well. The lawyers asked Torres to schedule another hearing on September 30, when they expect Oppenheim will plead guilty.
Oppenheim was arrested at his New Jersey home in April and has been allowed to remain free on a $1m bond and under electronic monitoring, though he cannot travel far from his house.
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