Securities fraud order issued against NH man
CONCORD, N.H. (AP) — The New Hampshire Bureau of Securities Regulation has issued an order against a Manchester man saying he needs to return $237,000 wrongfully obtained from investors in Maine and New Hampshire.
The order says James Philbrook contacted a Maine couple in 2005 soliciting them to invest money with him related to a proposed pay-per-view program starring celebrity Carmen Electra. The couple wired over $71,000 to Philbrook's bank account and received a promissory note. They later wired $123,000. Residents in Nashua and Enfield also invested.
The bureau said the funds were used to pay off bills and restitution to a former employer of Philbrook's son, who was found guilty of theft in a New Hampshire case.
A phone message left for James Philbrook in Manchester wasn't immediately returned Monday afternoon.