Business/In Brief • Sept. 14, 2013
Man sentenced to 4 years for wire fraud
HONOLULU – A Kaneohe man convicted of creating a Ponzi scheme has been sentenced to four years in prison.
KITV-TV reports Jason Pascua also was ordered to pay more than $1 million in restitution.
Pascua in May pleaded guilty to fleecing 31 Hawaii families out of about $1.5 million over three years. He promised returns of 25 to 50 percent for investing in his company, J2 Productions, which promoted concerts. Some investors received money came from the investments of others.