U.S. Department of Justice
Federal Bureau of Investigation
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U.S. Department of Justice Federal Bureau of Investigation |
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| In Reply, Please Refer to Release No. |
219 South Dearborn Street Chicago, Illinois 60604 |
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February 6, 2003 Homer Glen Man Charged in $11 Million Investment Fraud Thomas J. Kneir, Special Agent in Charge of the Chicago Office of the Federal Bureau of Investigation (FBI) announced today the arrest of MICHAEL J. MURPHY, age 44, of 17332 South Parker Road in Homer Glen, Illinois. MURPHY surrendered to FBI Agents at the Dirksen Federal Building, earlier today. MURPHY was charged in a criminal complaint filed this afternoon in U.S. District Court in Chicago with one count of mail fraud, which is a felony offense. According to the complaint, MURPHY operated an investment firm, Michael J. Murphy and Associates Insurance Planning and Design, with offices located at 17340 South Parker Road, also in Homer Glen. It is alleged that from the mid-1980's to the present, MURPHY solicited investments from individuals by promising returns as high as 20% per month. At present, it is believed that as many as 190 individuals have invested at least $11 million dollars with MURPHY. It is further alleged that MURPHY has converted almost all of the invested funds to his personal use, leaving virtually nothing for his investors. MURPHY appeared before U.S. Magistrate Judge Martin C. Ashman in Chicago this afternoon, at which time he was ordered held without bond until his next scheduled court appearance. The FBI's investigation of this matter is continuing. Anyone that feels they have been victimized by MURPHY is asked to call the FBI's Tinley Park office at (708) 429-2227. The public is reminded that a complaint is not evidence of guilt and that all defendants in a criminal case are presumed innocent until proven guilty in a court of law. EDITOR's NOTE: A copy of the complaint filed against MURPHY is available from the Chicago FBI Press Office at (312) 786-2645. |
