Hawaii hits concert promoters with cease and desist order for failing to pay back investors

The Hawaii state Department of Commerce and Consumer Affairs’ Commissioner of Securities has issued a preliminary order to cease and desist against concert promoters Ferdinand C. Jacobe, Gina T. Carlos and P.B.C. Productions LLC for violating state securities laws related to unpaid investors for concerts held more than two years ago. The orders seek total penalties of $200,000 in addition to a permanent injunction against Jacobe and Carlos for transacting securities in the state, disgorgement…