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Advertiser: The FBI yesterday raided four Maui homes as part of its investigation into allegations that several local companies bilked homeowners out of more than $300,000 on O'ahu, the Big Island and Maui with false promises to help them avoid foreclosure.
The FBI executed search warrants yesterday at a home on Ho'okahi Street in Wailuku, another on Mo'olu Circle in Waikapu and two other locations on Maui. Agents seized computer records, boxes of files and other evidence....
The bogus bonds are not sold through an investment firm or brokerage house, as legitimate bonds are. They also purport to represent ownership in a fictitious Hawaiian nation named Ko Hawaii Pae Aina, sponsored by the Hawaiiloa Foundation.
The companies pushing the bogus bonds, several claiming to be affiliated with Native Hawaiian sovereignty movements, are targeting Native Hawaiian homeowners and others who are facing foreclosure.