Business / In Brief • Aug. 10, 2013
Investors plan Coco Palms restoration
WAILUA – Oahu-based investors are preparing to revive a Hawaii resort made famous by Elvis Presley.
The investors said the Coco Palms Resort property, which has sat in ruins since Hurricane Iniki destroyed the hotel in 1992, is in escrow. They say they’ve already secured demolition permits.
Construction will begin in the first or second quarter of next year if all goes well, Chad Waters, a member of the newly-formed Coco Palms Hui LLC, told The Garden Island newspaper. Workers from Craig Kawakami Builders gathered for a blessing Thursday before they started removing overgrown weeds on the property’s perimeter to install dust screens.
Man sentenced for gambling ring
HONOLULU – A federal judge has sentenced a Kailua-Kona man to a year and eight months in prison for running an illegal gambling business.
U.S. District Court Judge Leslie Kobayashi sentenced 45-year-old Eric Ford on Thursday.
Prosecutors say Ford also forfeited nearly $130,000 in cash, a Rolex watch and a vehicle as part of a plea agreement.
Ford pleaded guilty in February to the gambling charge and to structuring financial transactions so they wouldn’t be reported to the federal government.