Concord, NH – Attorney General John M. Formella announces that today a Rockingham County Grand Jury returned two indictments charging former investment adviser Dain F. Stokes, age 62, of Hollis, with two class A felony counts of theft by misapplication of property, contrary to RSA 637:10.

One indictment alleges that between July 27, 2018, and November 23, 2018, Mr. Stokes, pursuant to one scheme or course of conduct, obtained funds, property of C.T., in an aggregate amount of more than $1,500, upon agreement to make a specified payment to a project in Africa, and Mr. Stokes recklessly failed to make the specified payment and dealt with the property as his own.

The other indictment alleges that between September 20, 2018, and March 22, 2019, Mr. Stokes, pursuant to one scheme or course of conduct, obtained funds, property of S.T. and/or P.T., in an aggregate amount of more than $1,500, upon agreement to make a specified payment to a charitable foundation and/or project in Africa, and Mr. Stokes recklessly failed to make the specified payment and dealt with the property as his own.

Mr. Stokes was a licensed investment adviser during the period of charged conduct. C.T., S.T., and P.T. were Mr. Stokes' clients.

Mr. Stokes is scheduled to be arraigned on the charges in the Rockingham County Superior Court on May 20, 2022, at 9:00 a.m.

This matter was investigated by Investigator Calice Couchman-Ducey of the Consumer Protection and Antitrust Bureau, with assistance from the Fremont Police Department and the New Hampshire Bureau of Securities Regulation. The case is being prosecuted by Senior Assistant Attorney General Bryan  J. Townsend, II, of the Consumer Protection and Antitrust Bureau.

An indictment is merely an accusation, and Mr. Stokes is presumed innocent unless and until proven guilty.