A retired U.S. Navy chief petty officer is accused of targeting current and former members of the military in a fraudulent investment scheme that raked in more than $350,000. Robert L. Murray, Jr., also is accused of spending half the funds on gambling and other personal expenses, according to the U.S. Securities and Exchange Commission.
From September 2020 through January 2022, Mr. Murray solicited prospective investors in a Facebook group for service members and veterans for a fund he controlled called Deep Dive Strategies, LLC. He convinced 44 investors in 14 states that the fund would focus on publicly traded securities, the SEC said Thursday.