WAILUKU – Lloyd Y. Kimura, 61, president of Maui Industrial Loan & Finance Company and former president of Lloyd Y. Kimura, Inc. in Wailuku, has been charged with two counts of Prohibited Securities Practice and two counts of False or Misleading Financial Statement.
The Department of the Attorney General filed a complaint in the Circuit Court of the Second Circuit on December 20, 2010, alleging that between June 30, 2008, to and including June 30, 2009, Kimura filed false or misleading statements and omitted statements required by law in Verification Statements of Maui Industrial Loan & Finance Company that were filed with the Financial Institutions Division of the Department of Commerce and Consumer Affairs.
The complaint also alleges that between February 2007 and June 2009, Kimura, in connection with the offer, sale, or purchase of any security, employed a device, scheme, or artifice to defraud another in amounts greater than $100,000. A copy of the complaint is attached.
Prohibited Securities Practice is a class A felony with a maximum penalty of twenty years of imprisonment or a fine of $50,000 or both. False or Misleading Financial Statement is a class C felony with a maximum penalty of five years of imprisonment or a fine of $20,000 or both.
Arraignment and plea and a change of plea are scheduled for December 28, 2010, at 8:30 a.m. before the Honorable Joseph Cardoza.
A complaint is only an accusation, and Kimura is presumed innocent unless and until he is found guilty by a judge or jury.
Submitted by Christopher D.W. Young, Supervising Deputy Attorney General for the state of Hawaii