Attorney General John M. Formella announces that Thomas Gioseffi, age 69, of Salem, New Hampshire, pleaded guilty and has been sentenced in the Rockingham County Superior Court to one class A felony count of theft by misapplication and one class A misdemeanor count of theft by unauthorized taking.

The underlying conduct occurred in 2019 and 2020, while Mr. Gioseffi owned and operated the general contracting company Gio Realty, LLC. An investigation by the Consumer Protection and Antitrust Bureau revealed that, on November 11, 2019, Mr. Gioseffi and D.C. signed a contract to build D.C.’s home. On November 11, 2019, and November 25, 2019, Mr. Gioseffi collected $50,000 in deposit funds from D.C. After obtaining D.C’s money, Mr. Gioseffi spent it on other projects and personal expenses. For these acts, Mr. Gioseffi pleaded guilty to theft by unauthorized taking.

The investigation also revealed that, on April 22, 2020, Mr. Gioseffi requested a construction loan disbursement of $34,150 to pay a subcontractor for performing site work. He received this disbursement from D.C.’s construction loan on April 29, 2020. After receiving this disbursement, Mr. Gioseffi did not pay the subcontractor for site work. He spent most of the money on other projects and on personal expenses. For these acts, Mr. Gioseffi pleaded guilty to theft by misapplication.

On the theft by unauthorized taking charge, the Court sentenced Mr. Gioseffi to 12 months in the House of Corrections, stand committed. On the theft by misapplication charge, the Court sentenced Mr. Gioseffi to serve 2 to 4 years in the New Hampshire State Prison, all of which is suspended for 4 years from his date of release. As a condition of the suspended sentence, Mr. Gioseffi is ordered to pay $84,150 in restitution to D.C. and is enjoined from soliciting or accepting any advance payment for the duration of his suspended sentence.

This case was investigated and prosecuted by the Consumer Protection and Antitrust Bureau at the New Hampshire Department of Justice. The case was investigated by Investigator Calice Ducey and prosecuted by Assistant Attorney General Warren Cormack and Senior Assistant Attorney General Brandon Garod.

If you or someone you know has been the victim of contractor theft, please contact your local police department or file a consumer complaint with the Consumer Protection and Antitrust Bureau at https://www.doj.nh.gov/consumer/.