ELLSWORTH — A former loan broker has been ordered to spend five years in a Maine prison and pay restitution of $358,000 for running a scheme that duped investors out of their money.

A Hancock County Superior Court jury on Wednesday found 48-year-old Eric Murphy Jr., who operated Murphy Home Loans in Ellsworth, guilty of securities fraud, forgery and theft by deception. He was sentenced immediately after the verdict.

Securities officials said Murphy took about $450,000 from four investors under false pretenses from 2006 to 2008. Instead of using the money to fund mortgage loans for consumers, he was charged with using it for business and personal purposes.

Murphy was charged last year after state regulators revoked his loan broker’s license.