Ponzi scheme convictions fail to compensate victims
The fall has come and gone. George Lindell and Holly Hoaeae have appealed their convictions and lost.
With much thanks to the young FBI team that worked so hard to convict them, that part of the system worked. Lawyers have been paid and paid time again. Accountants were paid. Even the document-shredding company has been paid.
Meanwhile, those who have lost so much are still waiting. This part of the system has not worked.
The people who lost so much were given a small amount, about halfway through. The people have moved on. One couple who came here had lost their home, hoping to find their dream, have moved away to start over. Some lost more than their money when they passed away.
When several victims were asked at the trial why they gave George and Holly their money, many responded that George and Holly were honest and had a good reputation.
Please be warned of situations like this as it could happen to anybody. My older generation was so trusting.
I feel betrayed by George Lindell and Holly Hoaeae. It has been 10 years and counting with still no final payment since this case was first presented. I just received the final document that the Tax Department is reviewing.
By the time George and Holly get out of jail and run away and hide on the Mainland, the people who lost so much and trusted them so deeply will still be waiting for their money. The system needs to change.
Nancy Phillips Firestine