Nelson N. Waikiki, a former 2014 candidate for Maui mayor, was sentenced Friday by Maui circuit judge Rhonda I. L. Loo to 20 years in prison for securities fraud, the state attorney general’s office announced.
“Mr. Waikiki convinced several people to invest money in a water rights company on Maui,” said Deputy Attorney General Albert Cook. “Following an investigation by the state, it was determined that Mr. Waikiki did not have any such rights to the water, that he was not registered to sell securities in Hawaii, and that the securities he sold were not registered.
“In total, Mr. Waikiki’s schemes scammed up to 21 victims for more than $100,000,” Cook said.
In addition to sentencing Waikiki to two consecutive 10-year prison terms for four counts of securities fraud, Judge Loo has ordered Waikiki to pay restitution to the victims.