Triathlete Magazine Swimsuit Issue (courtesy
Triathlete Magazine Swimsuit Issue (courtesy

David T. Low, owner of Hawaii Capital Management, promoted himself in the community and on his web site as an investment expert and as “Hawaii’s Fittest CEO.”

He was featured in the in an October 2007 Hawaii Business Magazine article entitled “Top Male and Female Fittest CEO.”

On Tuesday, August 6, Low was arrested on a $110,000 bench warrant for violating State securities laws and charged with 5 counts of Theft in the first degree, class B felonies.

According to the state Department of Commerce and Consumer Affairs Securities Division, Low obtained $257,000 from three investors, telling them he would purchase securities in the form of investment contracts from Hawaii Capital Management, LLC., and that their money would be invested in an annuity, Roth IRA, or “pooled” investment for their future use and benefit.

Instead, the DCCA said Low used their money to purchase securities for himself and for personal expenses, including payments to Mercedes Benz, Audi Hawaii, and the City & County of Honolulu for registration of a Ferrari.

Low also used money for retail purchases, groceries, dining and entertainment, gym membership, rent, credit card payments, and cash withdrawals, the DCCA said.

Low also employed “deceptive schemes and devices to conceal the fraud such as forging documents, using one investor’s money to pay a return to another investor, and issuing false financial statements of fictitious accounts and account balances,” the DCCA said.

(Update:On Monday, Low pleaded not guilty to the charges against him). Low faces a maximum jail sentence 10 years for each of the 5 counts.

Hawaii Commissioner of Securities Tung Chan also issued a Preliminary Order to Cease and Desist and Notice of Right to Hearing against Low, his company.

“The order alleges that Low was not registered to transact securities in Hawaii, that the securities he sold to the three investors were also unregistered, and that Respondents violated the State’s anti-fraud provisions,” the DCCA said.

The order seeks total penalties of $200,000 in addition to a permanent injunction against transacting securities in the State, rescission, and restitution for the investors.

The DCCA asks that anyone solicited by or transacted business with David T. Low or Hawaii Capital Management, LLC is urged to contact the State Securities Enforcement Branch at (808) 586-2740
or by email at



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Hawaii Reporter is an award-winning, independent Hawaii-based news and opinion journal founded in 2001 and launched in February 2002. The journal's staff have won a number of top awards from the Society of Professional Journalists, including the top investigative news reporting awards, business reporting awards, government reporting awards, and online news reporting awards. Hawaii Reporter has a weekly television news show, News Behind the News, which airs on Mondays at 1:30 p.m. and Wednesdays at 6:30 p.m.