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Broker gets prison for mortgage scam
A former Ellsworth mortgage loan broker was found guilty of fraud and theft Wednesday by a Hancock County Superior Court, following an investment scam in which he bilked investors out of hundreds of thousands of dollars.
Eric Murphy Jr. was sentenced to nine years in prison, with all but five suspended, and ordered to pay $358,000 in restitution to his victims, according to a press release from Maine's Office of the Attorney General. Murphy was charged with taking approximately $450,000 from four investors between October 2006 and April 2008 and using the money for personal use rather than funding consumer mortgage loans as intended. He was found guilty on one count of securities fraud, one count of forgery and two counts of theft by deception, according to the release.
Murphy had his mortgage broker license revoked by the state in April 2009.
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The Giving Guide
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
-
Work for ME
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
-
Senior Smart
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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