POSTED: 03:23 p.m. HST, Sep 12, 2013
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.