What is the latest update on the Troy Stratos case? Are they set for trial or has there been a plea deal yet?
– SK, California
Troy Stratos, 48, remains in Sacramento County Jail awaiting trial in two unrelated fraud cases, and trials in both cases currently are scheduled for 2015.
In one case, Stratos is accused of defrauding Granite Bay resident Nicole Murphy in 2006 and 2007 of $7 million she collected after divorcing Eddie Murphy. According to stories in The Sacramento Bee, he allegedly convinced her that he would manage the proceeds of her divorce by investing them overseas where they would earn a high rate of return. Stratos allegedly represented himself as being wealthy and successful, and involved in the entertainment industry.
At Stratos’ request, Nicole Murphy executed a revocable trust with Stratos into which she placed the cash proceeds from her divorce and property. Instead of investing the money, Stratos allegedly diverted substantial sums from the trust to his personal use.
In May 2013, a federal grand jury returned a 20-count superseding indictment, alleging that beginning in December 2010, Stratos, using a false name, defrauded Timothy D. Burns, a Pennsylvania financial manager, of at least $11.25 million.
According to federal court online records, the trial in the Burns case is set for Feb. 2, and the trial in the Murphy case is set for Oct. 5.
Call The Bee’s Cathy Locke, (916) 321-5287.