Getty Stock Scammer Robert Scott Murray Snared in $2.4M Securities Fraud Scheme

BOSTON – A high-stakes stock scam has landed Robert Scott Murray, 60, of Mashpee, in hot water. The longtime investor and former CEO of multiple public companies, including Stream Global Services and 3Com, has agreed to plead guilty to one count of securities fraud.

According to the DOJ USAO, Murray allegedly issued press releases and sent emails in the name of Trillium Capital LLC, a “venture investment company” he owned and managed, urging Getty Images Holdings, Inc. to add him to its board of directors. When that effort failed, Murray allegedly made false and misleading statements to artificially inflate the trading price of Getty Images so he could sell his shares at the inflated price.

On April 24, 2023, Murray allegedly caused the publication of a press release in which Trillium Capital proposed to acquire Getty Images for $10 per share. When the market opened, Getty Images shares traded at $7.88 per share, nearly 56 percent above the prior closing price. Murray then sold all his Getty Images shares within less than one hour for approximately $1,486,467.

Murray’s friend, who had previously bought Getty Images shares at Murray’s direction, also sold shares that same morning for approximately $558,328. When approached by law enforcement, Murray falsely denied telling his friend to buy Getty Images shares.

The Securities and Exchange Commission filed a civil complaint against Murray alleging violations of the securities laws. Acting United States Attorney Joshua S. Levy and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigations, Boston Division made the announcement.

The charge of securities fraud provides for a sentence of up to 20 years in prison, up to three years of supervised release and a fine of up to $5 million. Assistant U.S. Attorney Christopher J. Markham is prosecuting the case. Murray is scheduled to appear in federal court in Boston at a later date.