From Denny Walsh:
Prominent Sacramento accountant William Russell Murray, who is charged with stealing millions of dollars from his clients, made a routine initial appearance this afternoon in federal court.
He was arrested this morning after defense attorney Donald Heller brought him to the courthouse and surrendered him to deputy U.S. marshals.
He entered the courtroom wearing a dark business suit, a white shirt open at the collar and handcuffs.
U. S. Magistrate Judge Edmund F. Brennan informed Murray of his rights, that he is charged with mail fraud, and that the maximum statutory sentence is 20 years in prison. Brennan then ordered him released on a $300,000 bond secured by three residential properties he owns.
Since he is charged by criminal complaint, he did not enter a plea and a preliminary hearing was set for Feb. 12. However, the complaint will be replaced before then by a grand jury indictment or an information filed by the U. S. attorney's office. An arraignment and a plea will then be required.
Heller told the judge that sale of the client list of Murray's firm, Murray & Young Accountancy Corp., is being handled by the Sacramento office of the international law firm GreenbergTraurig LLP, and 30 percent of the proceeds will be set aside for restitution to the victims of Murray's fraud.
Assistant U. S. Attorney Matthew Segal told the judge that he and his IRS case agent, who have debriefed Murray, are a bit uneasy as to whether he has disclosed to them all his assets.
The agent's affidavit in support of the complaint says Murray stole more than $8.5 million from 50 or more clients, most of it in the past five years.
"We just don't understand how somebody could have blown through that amount of money in that period of time," Segal said.
Murray has admitted to Segal and Special Agent Brian Goold that he enjoyed a lavish lifestyle with the stolen money.
Neither the prosecutor nor a Pretrial Services officer objected to his release.
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