Maui News

Court date for Maui man accused of Securities Fraud

December 27, 2010, 9:44 PM HST
* Updated December 28, 12:11 PM
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By Wendy Osher

A Maui man accused of securities fraud is scheduled to be arraigned in Circuit Court on Tuesday, December 28, 2010. Lloyd Y. Kimura, 61, faces two counts of Prohibited Securities Practice and two counts of False or Misleading Financial Statements.

Kimura is the president of Maui Industrial Loan & Finance Company, and the former president of Lloyd Y. Kimura, Inc. in Wailuku.

The complaint was filed on December 20, 2010.

Prohibited Securities Practice is a class A felony punishable by up to 20 years in prison and/or a $50,000 fine. False or Misleading Financial Statement is a class C felony punishable by up to 5 years in prison and/or a fine of $20,000.

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A formal reading of the criminal complaint, plea, and change of plea are scheduled for 8:30 a.m. before Judge Joseph Cardoza.

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The complaint from the state Attorney General’s office is only an accusation. Kimura is presumed innocent unless and until he is found guilty by a court of law

(Supporting information courtesy State of Hawaii)

 

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