U.S. authorities file charges against BVI company

On Tuesday, charges were filed by the state Attorney General’s Office, Pennsilvania, against Brian J. Murray, CEO of the defunct  Murray Insurance Agency and three other persons. They are alleged of insurance pyramid scheme, the accusations against them include criminal conspiracy, money laundering, theft, insurance fraud, forgery, participation in a corrupt organization, tampering with evidence, obstructing law enforcement and tax crimes. Attorney General’s office also filed charges against the Gaffer Insurance Co. Ltd. based in the British Virgin Islands, The Murray Insurance Agency and The Mallow Holding Co.

According to authorities’ investigation, the alleged persons are connected to the fraud and theft of more than US$7.5 million over 1o years. They are said to have been using British Virgin Islands-registered business to hide more than US$10 million in income from Pennsylvania tax authorities.

It is said that various municipal organizations and educational institutions have become victims of the above-named persons and entities, among them the University of Scranton, Marywood University, Mount Airy Casino Resort, Phoenixville Borough and the Lackawanna County Multi-Purpose Stadium.

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