For one Maine couple, the allure of James Philbrook's pitch proved too irresistible. In fairness to Philbrook, the money the scam generated in part went to paying off the debts of a buddy's kid who also struggled with staying on the right side of the law. As for the selection of Electra, one can hardly quibble with a line of thinking that went "I saw this hot young thing on a TV Guide in the mid-1990s."
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.