GUILTY IN HAWAII INVESTOR FRAUD

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP90-00494R001100710191-7
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 22, 2016
• Document Release Date: July 26, 2010
• Sequence Number: 191
• Publication Date: October 22, 1985
• Content Type: OPEN SOURCE

Approved For Release 2010/07/26: CIA-RDP90-00494RO01100710191-7
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Guillyir:Hawaii Investor Fraud
HONOLULU Oct. 22'r- Ronald Re-
wald, an investmebt counselor who
said his firmwas connected with the
Central Intelligence ~ was found
Monday on 94 felony counts of
. perjury and embezzlement.
Federal prosecutors said more than
400 investors had lost a total of $22 mil
lion in a scheme in which some inves.
tots were paid with funds raised from
other investors whi% Mr. evWd used
the oar m'_ '~'?P
One 'per, 7ti;un'lytbit
..Justice has prevailed." Re indicated
more charges might bi~fbrthcomft. A
Federsl grand now is in session in
Ronokl u. ' .
Mr. Rewald's chief defense attorney,
Michael Levine, said the verdict would
be appealed.
The esm took 11 weeft4nd involved
more than In ?wlt. and 2;000 ex-
hibits. The jury retmsad the verdicts
attar two sad a bait My. of delibera-
tions, fisdift him guilty of : the 94
Viand not guilty of 4 misdamewo
Mr. Rewu$ faceil*mtaimmn
term of 900 yearsv SnteodN Is achett
uled for Do& 9.
The defense contended that the Cen-
tral
Mhad engaged
r.lik; hhelp fahie
titiss for its. Clandestine : over.
seas. Accthis theory, the
agents would say they were empiom
, - U6 Rewald's, fires Bald.
,,ltnwe~td, Dill R.. ang, or
two other concerns he established.
To further the charade, the defense
said, the agency wanted Mr. Rewald to
use the investors' money to become a
friend of such, figures as the Sultan of
Brunei, the Filipino business executive
Enrique Zabel and others in the world
of internatlooa finance and govern.
them. The agency denied this.
Mr. Rewald owned several automo.
biles, inciudleg a! Rms. , and had
estpenslire hawb" in BCi ri ac a
polo club anti, several ;polo poles.
One d~-~ introduced as evi-
What makes
Friday more fun?
l
Friday in
souk
Approved For Release 2010/07/26: CIA-RDP90-00494RO01100710191-7