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Alternative Market Briefing

Mara Investment Group founder pleads guilty to fraud, money laundering
Thursday, May 01, 2025

Bailey McCann, Opalesque New York:

Justin Murphy, founder of Mara Investment Group has plead guilty in Connecticut to charges of money laundering and fraud.

Murphy told investors that Mara was a quantitative hedge fund. However, according to court filings, between approximately 2016 and September 2022, Murphy defrauded investors by pursuing a much riskier investment strategy than he told investors. He also inflated fund performance and used fund proceeds for personal gain over the same period.

According to a statement from the Department of Justice, Murphy stole approximately $3,4......................

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