Among Those Scammed By Recently-Sentenced Ripoff Artist Were Victims Who Lost Their Home Equity By Borrowing Against It To Invest In Phony Venture

From the Office of the U.S. Attorney (Honolulu, Hawaii):

• Turk K. Cazimero, 57, a resident of Waimanalo, Oahu, was sentenced today [May 2] to serve eight years in federal prison, and ordered to pay restitution of $857,760 for committing fraud offenses over a period of twelve years.
  
  Elliot Enoki, Acting United States Attorney for the District of Hawaii, said that according to court documents, Cazimero operated Hawaiian Hurricane Productions, a company that promoted concerts and special events, including surfing competitions.
  
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  In December 2016, Cazimero pled guilty, admitting that he had promoted fake concerts, and intended to use, and did use, money from investors to pay his own living expenses, or to pay back earlier investors who were owed money. Cazimero agreed that he obtained $901,000 from his victims, and agreed to the entry of an order directing him to pay restitution to eleven victims.
  
  Cazimero was previously convicted in 2003 of Hawaii state securities fraud violations. Cazimero received probation on that charge, and began his federal violations shortly thereafter.
  
  At today’s sentencing before United States District Judge Derrick K. Watson, the government presented information that some of Cazimero’s victims took out home equity loans to generate money for him, lost their life savings and retirement accounts, and suffered emotional distress leading to depression and divorce.
  
  In imposing a 96 month sentence, Judge Watson noted that Cazimero has been committing ongoing fraud offenses for nearly two decades, and used the proceeds to support himself. Judge Watson ordered Cazimero into federal custody immediately to begin service of his sentence.

Source: Waimanalo Event Promoter Sentenced To Eight Years In Federal Prison For Fraud Offense.