A former corporate executive, Scott Murray, has agreed to plead guilty to securities fraud for floating a sham deal to buy Seattle-based Getty Images Holdings. The Boston-based investment firm Trillium offered to buy Getty Images for $4 billion in April 2023, but did not disclose its financing plan because it did not intend to complete the purchase. Trillium's brokerage account had a balance of just $17.32. Murray and a friend aimed to profit from the artificially inflated share price of Getty Images. Murray faces a maximum of 20 years in prison but could receive about two years under his plea agreement.
Federal investigators allege that a highly publicized $4 billion takeover attempt of Getty Images last year was part of a fraudulent "pump and dump" scheme. https://t.co/N3PZmHeDt2
Massachusetts man Scott Murray agreed to plead guilty to securities fraud for artificially inflating the stock price of Getty Images. Murray faces a maximum 20 years in prison, but could receive about two years under his plea agreement https://t.co/mPpv1NaaRf
When Trillium offered to buy Getty Images for $4 billion in April 2023, the Boston-based investment firm wouldn't disclose how it planned to finance the deal. That's because Trillium didn't plan to actually buy Getty, and its brokerage account had a balance of just $17.32. https://t.co/6YjyzR3KbU
A former corporate executive has agreed to plead guilty to floating a sham deal to buy Seattle-based Getty Images Holdings so that he and a friend could profit off the company's inflated share price. https://t.co/RdW1CahgCU
SEC Charges Robert Scott Murray and Trillium Capital with Fraudulent Scheme to Manipulate Getty Images Stock. $GETY Murray liquidated his Getty Images stock holdings after sham offer to buy the company drove up its stock price. https://t.co/1inZ1UYfu9