A New Hampshire man accused of bilking investors in Maine and New Hampshire has been banned from the securities industry.
The Securities and Exchange Commission announced Monday that James Philbrook of Concord, N.H., was sanctioned after his convictions for theft and securities violations in Maine, where he was sentenced to prison and ordered to pay restitution.
Authorities said Philbrook sought investors for a proposed pay-per-view program starring celebrity Carmen Electra. The Maine couple wired him about $195,000, and residents in Nashua and Enfield in New Hampshire also invested tens of thousands of dollars.
Authorities 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 of theft by deception against his employer in a New Hampshire case.