REWALD TAKEN INTO CUSTODY

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP90-00552R000505400020-7
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 22, 2016
• Document Release Date: August 9, 2010
• Sequence Number: 20
• Publication Date: August 9, 1983
• Content Type: OPEN SOURCE

= xewaia :araa~at~-cumpany~.- : _ ".. ,~-~ -._~~
"~ = ?$ut no -new_:~nformation surface;
In just l0~days, investment ~caunse- ? yesterday;?on=fhe-two~znain~aquesticut~~l
.the pinnacle of .business .:success i.o: , .~ u*ald: ''Where xiid. some 'SI:?:.million .i~.
attempted suicide: the>collapse of -his '' investors -;nonEy -go~~ What is the `
multi-million dollar company: and ~=truth :.about 33ewalds.-reputed con~_:
last night -into custody in the Hono- - i3ectioi:~s:.to ?.t}e:CIA'. ~~ "
lulu Police Department cellbiock. The`&~C ~alleger}- in its complains;-;
~brought~ before. U.S. District Judge-;
Rewald was ..disc"harged .from .,~_.~gartin_.Pence`that the company Nadi
,Queen's Medical Center aAto ahe ~-,committed ~~.fraud and that Rewald
custod~? of detectives from the White 'had .made:-false .reports to the,.SEC.~
Collar Crime Unit. Police last: night_ pn the basis -bf the SEC's-complaint=;
said that Rewald .spoke ~wiih~ .detec- .: pence~ssued-a temporary restrainingry
rives earlier in the evening and then . order ~irolvbiting .Rewald, his fami2y_
turned himself over to them ~at.'10:30 ~
or his..ag.es~s and representatives-.
..p?m? ~ ~ ~ ~ ~. from.disbuising any personal-assets.-=
Looking pale and dejected,-'Rewald ~- ~ Corporate assets have?been `tied up
was wearing a blue T=shirt ?and -since Thursday, ?when '.a .group of
shorts when he . emerged ~ from a investors `successfully asked a federal ,
Queen"s emergency entrance and ? bankruptcy: court'to take 'control ~of _i
stepped into a waiting police car... ~ the ?company's :affairs. On Friday.-
Lt. Tony Granito; head ~of the"-L.S. Dzstrict Judge Harold I~'ong, act=
~~'hite Collar CrimeUnit; ~sai~d- Re-- ing for, the. bankruptcy court, issued
Wald was being held for. questioning ' a temporary order restraining Re-
. in a theft investigation: No. charges _ wald.and his-wife from .spending per-i
were brought against him..last night.. sonal-assets: ~ - ,
It was learned that Hugh F. Fong's :-order was similar io the?
Fraser, an investor in Rewald's.firm, order issued"yesterday by Pence at;
Bishop, Baldwing, Rewald, Dillirig-.. the request of the..SEC. A full ~hear~.
ham and Wong, Inc., lodged a theft ing :on .both orders is .scheduled ;foi-
complaint against Rewald with the b4onday. " ~~
;police yesterday. _. Attorney 'Michael Wilson, a mem-~
Fraser last week was one of five ber of.. the law -firm .representing Re'-
investors who forced the company wald, .asked Pence ~ in yesterday's .
into involuntary bankruptcy proceed- hearing to ~-allow his client to spend"
ings when they petitioned federal? ~S20,000 for attorneys' fees and adds=:.
bankruptcy court Judge Jon Chinen ~ tional unspecified ..amounts for.:Re=;
to take control of the firm. wald's hospital fees and incidental
The company is being investigated expenses. ? ' ~ -?
- b}? a variety '?of federal, state and Pence turne8 the request down for:
local agencies. the lime being. .~
Earlier yesterday, the federal Se- ~- Rewald attempted suicide July 30.
Sanitized Copy Approved for Release 2010/08/09 :CIA-RDP90-005528000505400020-7
HONOLULU ADVERTISER (HI) J
9 August 1983
By fames Cooley
:1 d certiur Slajf :1l'siter
' curities and Exchange Comnuss~on ..
_~oined the legal.fray,andtiled a fraud~>
~'011rI-.I11ZI,F~
Sanitized Copy Approved for Release 2010/08/09 :CIA-RDP90-005528000505400020-7
STAT