A self-proclaimed concert promoter was sentenced Tuesday to eight years in prison, and was immediately ordered into federal custody.
Turk K. Cazimero, 57, of Waimanalo, will also have to pay restitution of $857,760 for committing fraud offenses over a period of 12 years.
Cazimero operated Hawaiian Hurricane Productions, a company that promoted concerts and special events, including surfing competitions.
He was charged in an indictment with wire fraud offenses involving the solicitation of money from “investors” between September 2013 and September 2015, by falsely promising that the money would be used to pay artists and costs associated with various concerts.
According to court documents, Cazimero promised investors either high rates of return, ownership in the concerts, or the chance to be corporate sponsors. Cazimero also showed the investors posters that he had prepared, which made it appear that particular artists would perform concerts at certain venues, and that large corporations were sponsoring the concerts, when in fact the concerts had not actually been arranged.
In December 2016, Cazimero pleaded guilty to the charges. He admitted that he had promoted fake concerts, racking up $901,000 from investors, which he used to pay his own living expenses, or to pay back earlier investors who were owed money.
The U.S Attorney’s office says some of his 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.
Cazimero was previously convicted in 2003 of Hawaii state securities fraud violations. He received probation on that charge, and authorities say he began his federal violations shortly thereafter.