Former Loan Broker To Be Tried on Theft Charges

ELLSWORTH — A former loan broker who pleaded guilty to stealing over $500,000 from his clients will go to trial on the charges.


On Monday, Superior Court Justice Kevin M. Cuddy rejected a plea agreement that would have entailed Eric Murphy Jr. serving 18 months in prison.

On March 2, Murphy had pleaded guilty to two counts of theft as part of an agreement with the Office of the Maine Attorney General.

Assistant Attorney General Michael Colleran and defense attorney Jeffrey Toothaker had reached an agreed upon sentence of four years in prison with all but 18 months suspended and three years of probation.

Murphy withdrew his guilty pleas and the case has been set for trial, which would not occur until summer or fall.

Cuddy made his decision after listening to five victims speak during the sentencing hearing about how Murphy’s actions have devastated their lives. The victims were either investors or clients of his business Murphy Home Loans and Breezy Maples Farm, which was envisioned as a premier equestrian center for the area.

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