Philbrook initially convinced the couple to
invest $145,000 in developing a pay-per-view cable television production
featuring Carmen Electra. The couple relied on Philbrook’s assurances that the
production would net a substantial return. Unbeknownst to the couple, Philbrook
used a substantial portion of the money for his personal gain.
Following that incident, Philbrook obtained
another $50,000 investment from the couple which he used for his personal
benefit.
The jury rejected Philbrook’s claim that the
funds provided by the couple were personal loans to be used at his discretion.
Philbrook is expected to be sentenced in
October. The New Hampshire Bureau of Securities Regulation took administrative
action against Philbrook on September 7, 2012, for the same conduct.
