Cape Cod Man Pleads Guilty In Federal Stock Fraud Case

May 31, 2024

BOSTON – A Cape Cod man is pleading guilty in a federal securities fraud case.

The Justice Department says Robert Scott Murray of Mashpee was charged in connection with a scheme to artificially inflate the trading price of stock photo company Getty Images.

Murray was an investor who owned Getty shares. The DOJ alleged he published a press release that said he proposed to acquire Getty, then when the value went up, he sold his shares and instructed a friend who had bought in to also sell. All for a total of about $2 million.

Murray will face up to 20 years in prison at a future sentencing hearing.

By Jim McCabe, CapeCod.com NewsCenter

Filed Under: Local News, NewsCenter, Top Story Tagged With: Department of Justice

About Jim McCabe

Jim McCabe is a native of (suburban) Philadelphia who has lived in New England and covered Cape Cod news since 2016. He is also the play-by-play announcer for the Cape-based Seahawks Hockey Club .