Rhode Island man indicted for securities fraud in NH

May 24—A Rhode Island man has been indicted for securities fraud and other crimes for allegedly 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 issuing bad checks, according to a news release from the New Hampshire Attorney General's office.

Authorities said Giuttari solicited and accepted a total of $785,000 in investments from Webster Jones of Center Conway in four companies he controlled in Providence, Rhode Island. Giuttari allegedly obtained those funds "by creating or reinforcing false impressions relating to how Jones's money would be used, the safety of the investment, and security that would be provided to Jones," the AG's office said.

The charge of issuing bad checks was related to a check for $185,000 that Giuttari allegedly provided to Jones, for which payment was refused.

Giuttari is scheduled for arraignment in Carroll County Superior Court on June 14. The matter was investigated by the Consumer Protection and Antitrust Bureau of the Department of Justice, which is also prosecuting the case.