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Ponzi scheme operator sentenced to 4 years in prison

By Star-Advertiser staff

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.

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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
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