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Rhode Island man charged with securities fraud in NH

May 24 – A Rhode Island man was charged with securities fraud and other crimes for stealing $785,000 from a Center Conway resident.

A Carroll County grand jury indicted Joseph Giuttari, 62, of North Cranston, Rhode Island, on three counts of theft by deception, three counts of securities fraud and one count of writing bad checks, according to a news release from the New Hampshire Attorney General's Office.

Authorities said Giuttari solicited and accepted investments totaling $785,000 from Webster Jones of Center Conway for four Providence, Rhode Island, companies he controlled. Giuttari is alleged to have obtained these funds “by creating or reinforcing false beliefs about how Jones' money would be used, the security of the investment and the security Jones would receive,” according to the Attorney General's Office.

The bad check charge related to a $185,000 check that Giuttari allegedly wrote to Jones but was refused payment.

Giuttari is scheduled to be arraigned in Carroll County Superior Court on June 14. The case was investigated by the Justice Department's Consumer Protection and Antitrust Bureau, which is also prosecuting the case.

Anna Harden

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