A Manchester man cited for fraud and other violations of New Hampshire security laws a week ago was found guilty of two felony charges stemming from the same scheme by a jury in northern Maine.

Maine law enforcement officials announced Friday that former New Hampshire stockbroker James A. Philbrook was found guilty of securities fraud and theft in connection with an investment scam that cost a Maine couple nearly $200,000.

New Hampshire securities officials say investors in Nashua and Enfield also lost money when Philbrook convinced them to invest in what he said was a pay-per-view program starring celebrity Carmen Electra.

According to a statement from Maine Securities Administrator Judith M. Shaw and Attorney General William J. Schneider, the Arookstook County jury did not believe Philbrook’s testimony that the funds provided by the St. Agatha couple were personal loans and that he could use the funds however he wished.

During the trial, Maine prosecutors presented evidence that Philbrook, who had been advising the couple for more than a decade, approached them with the Carmen Electra scheme and convinced them to invest “based on their longstanding relationship with Philbrook and his representation that their investment in the production would make a substantial return,” said the Maine officials. “In reality, Philbrook used nearly half of the investment to pay back money his son Stefan had embezzled from an employer, and used the rest for his own investments or expenses.”

“We are gratified that the jury found Mr. Philbrook guilty of securities fraud and theft in this case,” Shaw said. “Philbrook brazenly exploited the relationship of trust that he had developed with Maine investors over a period of years.” He is expected to be sentenced in October.

The New Hampshire Bureau of Securities Regulation took administrative action against Philbrook on Sept. 7, based on the allegation that a Nashua couple lost $20,000 and an Enfield victim lost $22,000 investing in the same scam.

The New Hampshire order requires Philbrook to pay $237,000 in restitution to victims in both states, a fine of $12,500 and investigation expenses of $10,000. He has also been ordered to cease and desist from further violations of securities laws.

Philbrook could be subject to criminal prosecution in New Hampshire as well.

“The state securities bureau has consulted with us about it, but I cannot comment any further,” said Jim Boffetti, an attorney with the consumer bureau in the state attorney general’s office. “Whether or not there is a decision at some point to bring charges in New Hampshire is not something I’m free to talk about. We know he was convicted in Maine.”

dsolomon@unionleader.com