Greenwich investment group operator pleads guilty to money laundering
GREENWICH, Conn. (WTNH) — A Stamford man pleaded guilty to money laundering offenses in connection with an investment fraud scheme, according to court documents.
Justin C. Murphy, 50, was charged with one count of wire fraud and one count of money laundering.
Yale student robbed while walking on Lynwood Place in New Haven
Murphy owned and operated Greenwich-based Mara Investment Group, LLC., which he reported was a hedge fund that balanced long and short positions in securities, according to court documents.
According to court documents, between 2016 and September 2022, Murphy allegedly defrauded investors by pursuing a riskier investment strategy than what was stated. He also allegedly used investor funds personally. Murphy also told investors that their investments were performing better than they were. He allegedly provided investors with account statements that falsely represented their account balances and falsely reported federal tax forms.
Murphy allegedly stole around $3,465,812 in investor funds, according to court documents.
Murphy was arrested in Brazil on Dec. 6, 2023. He was detained for nearly 11 months while awaiting extradition.
He's been released on a $250,000 bond since Nov. 1, 2024.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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