April 01, 2025
A Ninth Circuit judge on Tuesday questioned if Oppenheimer & Co. Inc. was responsible for a Ponzi scheme orchestrated by one of its brokers as a side hustle, telling investors he was struggling to see how they were direct customers of the investment firm.
April 08, 2024
Financial services company Oppenheimer & Co. Inc. has blocked a bid by investors seeking to arbitrate claims before the Financial Industry Regulatory Authority that attempted to keep the company on the hook for a Ponzi scheme orchestrated by a former Oppenheimer-registered broker.
March 08, 2023
A Washington federal judge ruled Wednesday that Oppenheimer & Co. Inc. can avoid arbitrating claims from four Washington investors who said they were defrauded in an alleged Ponzi scheme orchestrated by one of its former employees, though the judge noted the investment firm must be embarrassed that the illegal scheme went undetected for more than a decade.