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Adviser accused of defrauding Eddie Murphy's ex-wife

by Michelle McGagh on Dec 21, 2011 at 07:51

Adviser accused of defrauding Eddie Murphy's ex-wife

A Los Angeles-based financial adviser has been charged with defrauding comedian Eddie Murphy’s ex-wife of $7 million.

Adviser and self-described entertainment entrepreneur Troy David Stratos, 45, faces 14 charges of fraud, money laundering and obstructing justice, according to the Associated Press.

Law enforcement sources told the press agency that the victim, named as NM…ex-wife of EM’ in court documents, is Nicole Murphy, the ex-wife of comedian Eddie Murphy.

Stratos is accused of persuading his victim to invest her divorce settlement money overseas, promising a high rate of return, however he did not invest any of the money. It is claimed Stratos spent the money on himself and opened a bank account in Florida from which he used the money to pay for the victim’s expenses, while letting her believe he was paying expenses from his own money.

Murphy put the money into a revocable trust with Stratos.  

He also offered to help Murphy sell her home in a wealthy California suburb to a member of a Middle Eastern royal family and recommended she rent luxury cars to make the property more appealing.

Stratos is accused of using the cars and the property and did not arrange for any sale.

9 comments so far. Why not have your say?

Derek Dryden

Dec 21, 2011 at 08:40

is it a quiet news day, or do we really need global stories that hark on about how shocking we financial advisers are (around the world) ???

Quality piece NMA - happy christmas :-)

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Julian Sunley via mobile

Dec 21, 2011 at 09:13

So what we are saying here is that she needed a 'Beverley Hills Cop'...........

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JOHN BRUCE

Dec 21, 2011 at 09:42

what goes around comes around

If it was not due to you, the world has a funny way of taking it back again

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Anitaki

Dec 21, 2011 at 11:06

No doubt a national rag such as the Mail will pick up on this, then phone some banks to get some advertising revenue offering to tarnish all financial advisers with the same brush.

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Revohtron

Dec 21, 2011 at 11:15

Presumably we have run dry of our own fraudsters, so we now need to import these stories...

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tiernan simmons

Dec 21, 2011 at 11:23

Why oh why is this on a professional financial advisers website under news ? have all the tabloid journalists who lost their jobs at the NOTW been hired by New Model Adviser ?? Its time to unsubscribe if thats the case.

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Julian Stevens

Dec 21, 2011 at 12:38

Given the apparently international scope of its activities, I expect the FSA will consider it necessary to send somebody out to LA (first class, of course, staying at the Beverly Hills Hilton) to get the lowdown on the case.

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JOHN BRUCE

Dec 21, 2011 at 12:42

@ tiernan simmons

hear, hear

and they started out so well

perhaps David Ingram would be so kind as to start up his own ethical site?

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Anitaki

Dec 21, 2011 at 12:48

@ Julian

I suspect Ms Cole is already 'on the case'.

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