A class-action lawsuit claims investment bank Oppenheimer & Co. was at fault for an alleged Ponzi scheme run by a former employee, which authorities say collected $110 million from unwitting investors.
A suit filed on 31 August in the United States District Court for the Northern District of Georgia in Atlanta alleges that from 2008 through 2016, a group of former Oppenheimer investment advisers, led by Marietta, resident John J. Woods, funnelled the money of Oppenheimer customers into a fraudulent scheme.
