Hawaii Promoter Trouble

Commissioner Ty Nohara’s cease-and-desist order claims P.B.C. Productions, which includes principals Ferdinand Jacobe and Gina Carlos, sought funds from the Filipino community to produce three concerts between 2012 and 2013, promising up to 40 percent returns on investment.

The pair has been accused of violating anti-fraud provisions by using deceptive schemes and of selling unregistered securities to investors. P.B.C. collected some $666,000 from 30 people, but failed to disclose “to investors that they were substantially in debt to numerous past investors, and the proceeds of a future concert, as well as a portion of new investors’ funds, were needed to repay past investors,” a statement said.

The promoters also allegedly failed to inform investors that Carlos would receive a 5 to 15 percent commission on the funds that were collected. Nohara’s order is seeking penalties of $200,000 plus a permanent injunction against the promoters for transacting securities in the state, disgorgement of commissions received, and rescission of the sales of the securities.