An investment adviser for J.P. Morgan faces charges in New York over $20 million he allegedly took from customer accounts. The adviser was taken into custody on April 16 at his home in New Jersey.
He is facing charges that include embezzlement and wire fraud. In addition, he is charged with fraud relating to his work as an investment adviser and securities fraud. If convicted, he faces up to 30 years in prison. His wife is considered a nominal or relief defendant.