"A former JPMorgan Chase & Co. broker [Michael Oppenheim] faces federal charges that he stole $20 million from customers, only to lose at least $13.5 million in bets on Telsa Motors Inc., Apple Inc. and other companies." - Andrew M. Harris and Matthew Robinson, BloombergBusiness, April 16, 2015. Here is the article.
Way back in March 2011, Michael Oppenheim, who was fired from JPMorgan Chase last month, allegedly both persuaded customers to withdraw money from their accounts for investment in low-risk municipal bonds and outright stole from their accounts. He is charged with fraud and embezzlement and is going the plead not guilty.
Had Oppenheim started this alleged funny business more recently, JPMorgan Chase might have picked on it before he have gotten too far. As Hug Son reports in Bloomberg BusinessWeek, the financial firm "is testing an algorithm designed to catch employees before they misbehave as part of the effort of an effort to improve culture and controls."
If the pilot generates the results the firm expects, then it could market their system to other financial companies.