Robert L. Murray Jr. raised nearly $355,000 from 44 active-duty and veteran Navy members through a Facebook group. He told them the money would fund a private pooled investment vehicle called Deep Dive Strategies, LLC. On May 4, 2026, the Securities and Exchange Commission obtained a final consent judgment against Murray for misappropriating roughly $149,000 of those investor funds. The scheme was not sophisticated. It was simply deceptive.
How Murray found his victims
Murray, formerly of North Canton, Ohio, and Chicago, targeted a Facebook group dedicated to active duty, reservists, and veterans of the United States Navy. Between September 2020 and January 2022, he solicited interest in Deep Dive Strategies, LLC. He told investors the fund would pool their capital and invest in publicly traded securities through a professional strategy.
The pitch sounded reasonable. The men and women hearing it had served their country and were now looking for ways to grow their savings. Murray, acting without any registered investment advisory license, represented himself as qualified to manage their money. He was not. He was an unregistered investment adviser operating a vehicle that sold unregistered securities as membership interests.
Deep Dive Strategies was not what Murray promised
The SEC complaint, filed in the Northern District of Illinois under United States v. Murray, No. 22-cr-643 (N.D. Ill.), outlined a stark gap between promise and practice. Murray claimed the fund would invest in public markets. Instead, he misappropriated nearly 42 percent of the capital, or roughly $149,000, for personal expenses that included gambling. The remaining funds were not invested in any disciplined strategy.
| Case detail | Value |
|---|---|
| Total capital raised | $354,990 |
| Number of investors | 44 across 14 states |
| Percentage misappropriated | 42% (~$149,000) |
| SEC disgorgement ordered | $112,271.71 |
| DOJ criminal case number | 22-cr-643 (N.D. Ill.) |
| Final judgment date | May 4, 2026 |
The specific violations Murray committed
The SEC charged Murray with violations spanning three federal securities statutes. Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 addressed the unregistered offer and sale of securities. Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 covered the fraud itself. Sections 206(1), 206(2), and 206(4) of the Investment Advisers Act of 1940 applied to his unregistered advisory conduct and the undisclosed misappropriation.
The final judgment permanently enjoins Murray from further violations. He must disgorge $112,271.71, an amount the SEC treated as satisfied by restitution already ordered in the parallel criminal proceeding.
Red flags that should have been visible
Investors should be wary of any fund or adviser who solicits through social media groups without providing a registered advisory disclosure document. Murray had no SEC or state registration. He offered membership interests in a limited liability company without filing a registration statement or qualifying for an exemption. The vehicle was a pooled structure operated by a single individual who controlled the bank accounts personally.
No audited financial statements were provided. No independent custodian held the assets. There was no Form ADV on file, no BrokerCheck record for Deep Dive Strategies as an entity, and no state securities registration. These are not minor technicalities. They are structural safeguards designed to prevent exactly this outcome.
What affected investors can still do
The parallel criminal case and SEC disgorgement do not fully restore investor losses. Disgorgement and restitution often cover less than the total harm. Affected Navy veterans and their families may still have claims under private arbitration or civil action. Time limits apply, and the sooner investors act, the stronger their position.
We have seen this pattern before. A single operator creates a vehicle, pitches it to a tight-knit community, and siphons capital for personal use. The harm is not just financial. It is a betrayal of trust within a group that relies on mutual loyalty.
Haselkorn & Thibaut fights for investor recovery
Haselkorn & Thibaut is a securities law firm founded by former Wall Street defense attorneys who shifted their practice to represent investors. The firm has recovered over $520 million for clients in securities matters and maintains a 98 percent success rate in resolved nontraded REIT cases. Attorneys are AV Preeminent rated through Martindale-Hubbell, designated as Super Lawyers, and hold a 5.0-star client review average. The firm operates on a contingency basis — no recovery, no fee.
Contact Haselkorn & Thibaut today
Time matters in recovery cases. The earlier you act, the stronger your position. The firm offers a free case evaluation to assess your losses, review your account history, and explain your options under arbitration or settlement.
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