Exeter man charged with bilking 2 elderly widows out of more than $1M

EXETER, N.H. (AP) — An Exeter businessman is facing charges that he bilked two elderly widows out of more than $1 million.

A federal indictment charges Frederick McMenimen with mismanaging the funds and pocketing the money for himself while working as a financial adviser in Portsmouth. He's charged with mail fraud, interstate transportation of goods taken by fraud, money laundering and tax evasion.

According to the indictment, McMenimen spent $134,000 on his home mortgage, more than $31,000 for docking and yacht utilities, over $120,000 for his children's private school and college tuition, and about $350,000 in credit card payments.


Full Article and Source:
Exeter man charged with bilking 2 elderly widows out of more than $1M