Tr?id=566623520170033&ev=PageView&noscript=1

SEC Charges Investment Advisor Justin Murphy for $3.4 Million Investor Funds Misappropriation

Posted on January 25th, 2024 at 10:37 AM
SEC Charges Investment Advisor Justin Murphy for $3.4 Million Investor Funds Misappropriation

From the desk of Jim Eccleston at Eccleston Law 

The Securities and Exchange Commission (SEC) has charged Justin Murphy and his investment management firm, Mara Investments, LLC, for fraudulent misappropriation of approximately $3.4 million of investor assets.

Murphy, a former resident of Greenwich, Connecticut, allegedly induced multiple individuals to invest around $6.6 million in a private investment fund, Mara Investment Management LP, controlled by Mara Investments. According to the SEC, despite representing conservative stock trading and consistent profits, Murphy diverted most of the investors' funds for unauthorized business, personal expenses, and to finance a relative's company.

The SEC contends that Murphy concealed the fraud when the depleted assets failed to generate profits by providing investors with falsified account statements and inaccurate tax documents. The complaint charges Murphy and Mara Investments with violating various securities laws and seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties. In a parallel action, the U.S. Attorney's Office for the District of Connecticut has brought criminal charges against Murphy.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

The work that you and your team have performed on my behalf is exemplary.

JT

LATEST NEWS AND ARTICLES

1787679428 Law
August 25, 2026
Ameriprise Broker Sues LPL-Affiliated Practice Over Use of "Kindred" Name

AdvisorHub reports that an Ameriprise Financial broker in Oklahoma has filed a trademark infringement lawsuit against an LPL Financial-affiliated practice over its use of the word "kindred" in its name.

1787592120 Law
August 24, 2026
Sophisticated Voice Phishing Attacks Target Major Wall Street Firms

According to ThinkAdvisor, hackers recently launched a series of sophisticated cyberattacks against major Wall Street firms, including prominent hedge funds and private equity companies.

1787342003 Law
August 21, 2026
Rising Market Leverage Raises Concerns About Financial Stability Despite Low Volatility

The leverage that has helped drive the U.S.