Ex-isle man to admit Ponzi guilt
A former Kaneohe man is scheduled to plead guilty to operating a $1.4 million Ponzi scheme in which he allegedly victimized 29 Hawaii families.
Jason Pascua, 38, allegedly promised investors guaranteed returns of 25 percent to 50 percent for investments in Honolulu and Las Vegas concert and nightclub events, the FBI announced Thursday. Pascua allegedly told potential investors he was a concert and nightclub promoter in Honolulu and Las Vegas.
"Many of the alleged victims in this case have been financially ruined from their decision to invest in the defendant’s program," said FBI Special Agent Tom Simon.
Pascua, now living in Arizona, negotiated through his attorney to surrender to federal authorities when he returns to Honolulu in May, the FBI said. He is scheduled to be arraigned and enter a guilty plea May 23 in federal court.
In 2010, Pascua lost in the Hawaii Democratic primary election to state Rep. Ken Ito in a bid for the House District 48 (Heeia-Kaneohe) seat.
NEIGHBOR ISLANDS
Fire damages restaurant at Maui links
Patrons and employees of the Plantation House Restaurant in Kapalua, Maui, escaped injury after fire broke out in the restaurant at about 9 p.m. Wednesday.
Arriving fire crews found a section of the roof at the Plantation Golf Course clubhouse and attic on fire.
Firefighters battled the fire and brought it under control by about 10:30 p.m.
The restaurant was open for business when the fire started.
Damage is estimated at $500,000 to the structure and $100,000 to the contents.
The cause of the fire was under investigation.
The golf course remained open Thursday; the restaurant was closed.
Lahaina Bypass Highway’s first phase opens
A portion of the long-awaited Lahaina Bypass Highway has been opened to traffic.
The Maui News reported that the project has been in the making for more than three decades.
The first part of the 9-mile highway opened Wednesday.
That stretch, nearly a mile long, is between Lahainaluna Road and the Keawe Street extension.
The bypass project is aimed at helping drivers avoid the congestion on Honoapiilani Highway in the Lahaina area.
State Department of Transportation spokeswoman Caroline Sluyter said a key piece of the first phase was construction of the 360-foot-long Kahoma Stream Bridge, which cost more than $24 million to build. The bridge spans the Kahoma Stream gulch.
The first phase cost $77 million, with most of the funding coming from the federal government.
