Hawaii Couple Sentenced in Multi-Million Dollar Semisub Investment Fraud

A former married couple who led a Hawaii-based maritime company has been sentenced for orchestrating a decade-long fraud scheme that bilked investors out of millions of dollars through false claims about their semi-submersible vessel business.

Curtiss E. Jackson, 72, and Jamey Denise Jackson, 62, respectively the CEO and President of Semisub Inc., repeatedly misled investors by falsely claiming their prototype vessel, Semisub One, was “weeks” or “months” away from beginning operations. The couple fabricated business relationships with government agencies and a private investment firm, telling investors they had secured deals to build and sell a fleet of semi-submersible vessels worth tens of millions of dollars.

Evidence presented at trial showed the defendants diverted investor funds to finance luxury residences in Hawaii and California, a Mercedes-Benz automobile, luxury vacations, psychics, and marijuana purchases.

The case took a dramatic turn when Curtiss Jackson attempted to obstruct justice by fleeing U.S. territorial waters aboard the Semisub One vessel, which was subject to criminal forfeiture proceedings, just one day before his bond revocation hearing. He also sent a death threat to his ex-wife during the investigation.

In May 2024, Curtiss Jackson was convicted of securities fraud, conspiracy, mail fraud, wire fraud, witness tampering, and obstructing an official proceeding while on pretrial release. He received a 13-year prison sentence. Jamey Denise Jackson, who pleaded guilty in January 2023 to conspiracy to commit mail fraud and wire fraud, was sentenced to two years in prison.

The investigation was conducted by the U.S. Postal Inspection Service and IRS Criminal Investigation, with prosecution handled by the Justice Department’s Criminal Division’s Fraud Section and the District of Hawaii.

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