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Writer's pictureStephen Wick

Semisub's CEO, Resident of Honolulu, Convicted for Over $28M Investment Fraud Scheme

Jackson and his accomplice utilized investor funds to purchase upscale properties in Hawaii and California, a Mercedes-Benz car, extravagant trips, psychic services, and marijuana as part of their scheme.



Yesterday, a federal jury found a man from Hawaii guilty for his involvement in a long-running scam that swindled investors of Semisub Inc. and Semisub LLC out of more than $28 million.


Court documents and evidence presented during the trial revealed that Curtiss E. Jackson, a 71-year-old resident of Honolulu, not only served as Semisub's CEO but also held various other corporate positions. He deceitfully sought investments in Semisub, misleading investors for years by falsely claiming that the prototype vessel, Semisub One, was on the verge of commencing operations within a matter of "weeks" or "months."


In addition, Jackson deceitfully sought financial contributions by making untrue claims that Semisub had forged partnerships with government agencies and a private investment firm to construct and market a collection of "Semisubs" worth millions of dollars. These were just a few of the many falsehoods he propagated. As part of their elaborate plan, Jackson and his partner-in-crime misused investor funds to indulge in lavish lifestyles, including luxurious homes in Hawaii and California, a fancy Mercedes-Benz, extravagant vacations, psychic consultations, and even marijuana.



Jackson not only sent a death threat to his co-conspirator while under investigation, but he also included a link to an online video titled “Death of FBI Informants” in the text message. The video featured scenes from a TV show showing the demise of characters who had worked with the FBI. Additionally, Jackson tried to evade an official proceeding by trying to escape the country on the Semisub One, which was facing criminal forfeiture, just a day before his bond revocation hearing.


Jackson was found guilty by the jury on multiple charges including securities fraud, mail fraud, wire fraud, witness tampering, and obstructing an official proceeding. His sentencing is set for Sept. 23, with a potential maximum penalty of 20 years in prison for each offense, plus an additional 10 years for committing a crime while on pretrial release. The final sentence will be determined by a federal district court judge, taking into account various factors including the U.S. Sentencing Guidelines.





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