Quantcast
  

Thursday, April 17, 2014         

 Print   Email   Comment | View 6 Comments   Most Popular   Save   Post   Retweet

Ponzi scheme operator sentenced to 4 years in prison

By Star-Advertiser staff

POSTED:
LAST UPDATED: 03:39 p.m. HST, Sep 12, 2013


A federal judge sentenced a 39-year-old man this afternoon to a four-year prison term for running a Ponzi scheme that defrauded more than 30 victims of more than $1 million.

U.S. District Judge Leslie Kobayashi also ordered Jason Pascua to pay $1 million in restitution to the victims.

Pascua, a state House candidate from Kaneohe in 2010 and a former president of the Filipino Chamber of Commerce of Hawaii, was ordered to surrender at a federal prison on Oct. 24 to start serving his sentence.

Pascua pleaded guilty earlier this year to a wire fraud charge in connection with his Ponzi scheme.







 Print   Email   Comment | View 6 Comments   Most Popular   Save   Post   Retweet

COMMENTS
(6)
You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
entrkn wrote:
Wow, 30 victims and $1 million, probably stashed in the PI, and he will probably be incarcerated in a "country club" prison for less than 18 months... so crime does pay.
on September 12,2013 | 04:06PM
RetiredWorking wrote:
IRT entrkn, he still has to pay $1 million in restitution to his victims, which is basically all the $$ he scammed from them.
on September 12,2013 | 05:43PM
omd111 wrote:
After he serves his 4 years he would fit in perfectly as a member of Hawaii's legislature.
on September 12,2013 | 04:07PM
tiki886 wrote:
Wow. Read the line up of previous articles of other swindlers. There are as many as 10 more besides Pascua.

That means there are dozens more out there that haven't been caught yet!


on September 12,2013 | 05:31PM
sailfish1 wrote:
What happens if he doesn't repay the $1 million restitution? Does he get a longer sentence?
on September 12,2013 | 05:38PM
rayhawaii wrote:
U.S. District Judge Leslie Kobayashi also ordered Jason Pascua to pay $1 million in restitution to the victims...... Should also pay the taxpayers $240,000.00 for his 4 years of room and board.
on September 12,2013 | 09:23PM
IN OTHER NEWS
Breaking News