David Herlicka, 51, of Amherst, was convicted on Oct. 30 of his involvement in a fraudulent investment scheme to embezzle nearly $1 million to fund his business, White Birch Brewing, LLC. Courtesy photo/New Hampshire Attorney General’s Office

CONCORD – David Herlicka, 51, of Amherst, was convicted on Oct. 30 of his involvement in a fraudulent investment scheme to embezzle nearly $1 million to fund his business, White Birch Brewing, LLC.

According to court documents, in August 2014, Herlicka approached Gabriel and Roger Sylvestre, trustees of Parktown Trust, about taking out a $500,000 loan to fund the Nashua brewery, which has since closed. During the next two months, Herlicka and his co-conspirator, Dennis Nordquist, 71, of Gilford, made a number of false financial representations about the brewery and ultimately convinced the Sylvestres to increase the loan to $962,000.

Herlicka also failed to tell the Sylvestres that he owed $814,592 to his former employer and that he had been fined $97,484 by the Financial Industry Regulatory Authority.

It ultimately turned out that a substantial amount of the Parktown money was used for personal expenses. In addition, neither Herlicka nor Nordquist ever had any intention of paying back the loan.

“This verdict is the result of a thorough investigation and a strong prosecution team. Our team’s efforts reflect our ongoing commitment to holding accountable those who engage in fraudulent and deceptive business practices,” said Attorney General John Formella. “I want to thank our attorneys, investigators and our victim-witness advocate for their hard work in bringing this case to a successful conclusion and I also want to express my appreciation to the jurors for their time and careful consideration of the evidence.”

Herlicka was found guilty of theft by deception, conspiracy to commit theft by deception and securities fraud. He.is scheduled to be sentenced on Dec. 10.

Under state and federal law, Herlicka could face up to 60 years in prison, up to 10 years of probation and up to $1,008,000 in fines.

Nordquist was convicted on similar charges and was sentenced in July.