HONOLULU FIRM'S BANKRUPTCY IS LINKED TO POSSIBLE SUICIDE ATTEMPT, CIA DATA

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP85B01152R000100070020-0
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 2
• Document Creation Date: December 22, 2016
• Document Release Date: July 28, 2008
• Sequence Number: 20
• Content Type: OPEN SOURCE

Approved For Release 2008/07/28: CIA-RDP85BO1152R000100070020-0
STAT
Approved For Release 2008/07/28: CIA-RDP85BO1152R000100070020-0
 Approved For Release 2008/07/28: CIA-RDP85BO1152R000100070020-0
Honolulu Finns Bankruptcy Is Linked
To. Possible Suicide Attempt, CIA Data
? By Scar J. PA-LTRow
Staff Reporter of TIIJ WALL STatter JOURNAL
The Involuntary bankruptcy of a Hono-
lulu-based investment firm that allegedly
defrauded investors apparently has trig-
gered a number of bizarre events, including
the attempted suicide of the firm's chair-
man. It also has prompted an investigation
to determine whether the firm's records
might disclose sensitive information relating
to the Central Intelligence Agency.
The firm, Bishop, Baldwin, Rewald, Dil-
lingham & Wong Inc., is accused by the Se-
curities and Exchange Commission of de-
frauding private investors, whom it encour-
aged to invest in "tax-deferred Investment
'savings accounts."
WASHINGTON, D.C.
A Renaissance of
Graciousness
A luxury hotel in the great
European tradition. Elegant, quiet,
unruffled-never a convention.
THE MADISON
Wastnnglon's Correct -rddrns
15th a M Street,,N.W.,Washiegton,D.C 20003
Phone (Toll-free) H00-424-$577
or see your travel agent
74anhdi B. Coyne, Proprietor
How long must you keep
.-important papers?
Write for free booklet, RECORD
RETENTION TIMETABLE,
describing Retention Periods
as required by government
authorities, and how to
dispose of records safety
without loss or worryt
The MOST In Papa,
Shredders. On your
business tetterheed,
please. .
SHOWN 2-WAr
SHREDDER
^ WNE810
Electric Wastebaket Corp,145W 45thSr N.Y.10036
Growth Capital For
Private Companies
HOWARD & COMPANY
Corporate Finance Specialists
CALL- Thomas R. Morse [phone]
1528 Walnut Street, Philadelphia, PA 19102
On Monday, the Los Angeles regional of-
fice of the SEC filed a lawsuit and obtained
a court order in federal court in Honolulu,
freezing Bishop Baldwin's assets and the
personal assets of its chairman, Donald R.
Rewald.
According to documents filed with the
suit, the amount that investors put in totaled
about $17 million. But SEC,cfficials said a
preliminary investigation by a court-ap-
pointed bankruptcy trustee indicates that
the total may have been much larger. The
SEC said in court documents that the bank-
ruptcy trustee so far has been able to locate
only about $200,000 of the firms assets.
Claims Link to CIA
Bishop Baldwin was forced into involun-
tary bankruptcy last Thursday by four cli-
ents who claim they were victimized by the
firm. The following day, Mr. Rewald report-
edly slashed his wrists. He remained hospi-
talized until Monday night, when he was dis-
charged and arrested by Honolulu police on
theft charges related to. his activities at
Bishop Baldwin. One of Mr. Rewald's law-
yers, Peter C. Wolff Jr., said Mr. Rewald re-
mained in custody last night.
Mr. Rewald reportedly has claimed pub-
licly that he did work on behalf of the CIA.
Two weeks ago, according to SEC court doc-
uments, one of Mr. Rewald's bodyguards re-
moved files from the firm's office. The firm
subsequently refused to turn over the docu-
ments to the bankruptcy trustee," claiming
that they related to national security mat-
ters. But the documents finally were turned
over to a federal judge on Sunday.
The SEC evidently isn't discounting en-
tirely the possibility of CIA involvement by
the firm. When the documents were turned
over, the SEC asked Judge Martin Pence to
seal them and has asked U.S. intelligence of-
ficials to fly from Washington to review the
documents to determine if they do indeed re-
late to intelligence matters.
Mr. Wolff declined to comment on, any of
the accusations pending against Mr. Rewald
or on the alleged CIA involvement. Asked
whether there was any solid indication of
the firm's involvement with intelligence ac-
tivities, Mr. Wolff said: "It's too confused to
be able to make a responsible comment at
this point."
A spokesman for the CIA in Washington
said the agency wouldn't have any comment
on the thatter while it still is the subject of a
federal law enforcement investigation.
Promised Return of 20%
According to court documents, Bishop
Baldwin promised investors an annual re-
turn of at least 20% and claimed falsely that
its accounts were insured by the Federal
Deposit Insurance Corp. The firm claimed
that it could obtain such high returns in part
by investing in highly profitable investments
in Hong Kong and elsewhere overseas.
The full name of the firm. Bishop,
Baldwin, Rewald, Dillingham & Wong, con-
tains the names of three very prominent Ha-
waiian families, the Bishop, Baldwin and
Dillingham families. But an SEC official
said that, apparently, no one related to those
families was affiliated with the firm.
The bankruptcy trustee has located re-
cords showing that Mr. Rewald "has been
actively misappropriating investors' funds
in the account by using the funds to pay, at
a minimum, $30,000 of personal expenses a
month," the SEC documents stated.
_
M
-oll
W
To you. I'm Jack Klugman the Actor.
To my agent, business manager,
and accountant, I'm Jack Klugman the
Corporation.
They have copiers. Why shouldn't I?
Now I can. A Canon Personal
Cartridge copier. And it's so small, it's
perfect for people in almost any business.
Even if their business is at home.
Ifs like no other copier ever.
Because Canon put the entire copying
process-the toner, the drum and the
developer-in one neat cartridge. Each
cartridge is good for about 2,000
Approved For Release 2008/07/28: CIA-RDP85BO1152R000100070020-0