Former Candidate For NH Governor Faces Charges

A man who ran unsuccessfully for governor of New Hampshire in 1998, is accused of embezzling investors out of 50-million-dollars.

Authorities said 71-year-old Jay Lucas of Newport, lied to clients telling them their investments would be invested in health and wellness companies. Instead, he allegedly used the money to cover personal expenses, promote unrelated ventures and make Ponzi-like payments to other investors.

Charges against Lucas include wire fraud and money-laundering.