Greenwich firm steals millions from investors

Justin Murphy, 50, Stamford, CT was sentenced for stealing $3.5 million from investors. He ran Mara Investments, located on the third floor at 125 Greenwich Avenue (above Vineyard Vines) in Greenwich.

Between 2016 and 2022, Mr. Murphy told investors that the funds would be used for a conservative investment strategy. Instead the monies were used for business salaries and rent, helping to fund a relative's business and personal expenses, including a hotel near the firm's office in Greenwich that served as his primary residence.

He falsified account statements, lied in emails about trading activity and sent one investor a fraudulent tax document reporting an annual profit of 41%. Mr. Murphy was living in Brazil to avoid lawsuits. He faces 4.5 years in prison and $3.8 million restitution.

Between the Lines: You would think after the Madoff scandal that hit Greenwich hard, investors would be more cautious.

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