Business/In Brief • Nov. 15, 2013
44-month sentence for Ponzi scheme
HONOLULU – A man who operated a Ponzi scheme on Kauai has been sentenced to nearly four years in prison.
Peter Heckmann was sentenced Thursday to 44 months in federal detention. He must also pay about $1.6 million in restitution. He pleaded guilty in April to wire fraud.
A Honolulu grand jury indicted Heckmann on wire fraud charges five years ago. Prosecutors say he fled to Bali, where he was operating a recording studio and record label.
The FBI launched a social media campaign to generate interest in an international manhunt. He surrendered at the airport after voluntarily returning to Honolulu.