The missing money in Ehrlich Murdoch's account may be due to a "Rob Peter to pay Paul" scenario from bad land deals he made prior to 2011. However, it's still unclear where the rest of the money went and what Ehrlich was doing with it.
Journalists investigating the Alec Murdoch case have been tipped off about the connections between Murdoch's family and Barrett T. Bowler, who is linked with drug trafficking. This adds to the intrigue surrounding Murdoch's alleged embezzlement of millions of dollars from his clients.
Alec Ehrlich and Edward Murdoch allegedly used money designated for settlements to pay personal credit card bills and write checks to themselves, family members and associates. Murdoch further convinced a family friend that his settlement money was needed to pay for a medical insurance lien and took $85,000 for himself.
A financial advisor is accused of lying about client money and using settlements to steal from them without tipping his hand. Many of his victims, particularly minorities, trusted him implicitly and were left with far less than they were owed.
FTX, the cryptocurrency exchange co-founded by Sam Bankman-Fried, is facing a financial scandal of missing customer deposits amounting to $8 billion. The downfall of the young billionaire has shocked investors and politicians alike.
Palmetto State Bank intervened in the Alex Murdoch case in an effort to prevent former South Carolina lawyer Curtis Edward Smith from using a secret recording that he says will prove that the bank board knew about his actions. The bank has maintained that Smith acted alone when he used its money to pay back a firm allegedly defrauded by Alex Murdoch's father.