Former New Hampshire newspaper publisher Jay Lucas pleads guilty to securities fraud

The strange saga of erstwhile newspaper publisher Jay Lucas has come to an end. The owner of the now-defunct Eagle Times of Claremont, New Hampshire, who is also a former Republican gubernatorial candidate, pleaded guilty to securities fraud last Friday in New York, according to Todd Bookman of New Hampshire Public Radio.

Lucas, 71, could be sentenced to as much as 65 years in prison and $5 million in fines. “I knew at the time it was wrong and a huge mistake and a crime,” Lucas told the judge, according to Bookman. “I deeply regret my conduct and I’m sorry for what I have done.”

Lucas purchased the Eagle Times in 2022. As Damien Fisher wrote for inDepthNH, Lucas said he would “would focus on positive, uplifting stories.” Fisher added:

Lucas didn’t mention that he bought the paper with other people’s money, as alleged. Instead, he presented it as part of his Sunshine Initiative, a vaguely defined venture to revitalize the local area through happiness.

Lucas allegedly took millions from people to be invested in startup health and wellness companies. But the investment money he took instead went to pay alimony, rent, fund his purchase of the Eagle Times, and hire political consultants.

Lucas shut down the Eagle Times in 2025 after failing to make payroll. The Granite Eagle, a digital publication that Lucas helped found, continued to publish without his involvement, but it doesn’t appear to have covered local news and has not posted any new content since last December.

The Eagle, later the Eagle Times, had been a star-crossed publication for many years. It was purchased in 1946 by John McLane Clark, a former editorial writer for The Washington Post who’d lost out in a bid to buy the Union and the Leader in Manchester; instead, those papers fell into the hands of the notorious right-wing hate-monger and pedophile William Loeb.

Clark died in 1950, drowning while canoeing in Sugar River, according to Steve Taylor of The Valley News in nearby Lebanon, New Hampshire. The Eagle Times closed in 2009, but was revived at some point by an out-of-state chain.

Earlier coverage:

• Businessman who shut down his N.H. newspaper last summer is indicted on federal fraud charges (Jan. 5, 2026)
• A N.H. tale of ownership gone bad may have more to do with the failure of market economics (July 31, 2025)