Grand jury indicts 5 Maui residents for fraud - Hawaii News Now - KGMB and KHNL

Grand jury indicts 5 Maui residents for fraud

HONOLULU (AP) - A federal grand jury has indicted five Maui residents for fraud and tax offenses, alleging they falsely told people they could eliminate debts by zeroing them out with "special reserves" at the U.S. Treasury.

The indictment issued Thursday charges Mahealani Ventura Oliver, John D. Oliver, Pilialoha K. Teves, Leatrice Lehua Hoy, and Peter Hoy with conspiracy and 16 mail fraud offenses.

Ventura Oliver and Oliver are also charged with one count of money laundering, based on their alleged usage of funds obtained from participants to pay off a credit card debt. The indictment also charges Ventura-Oliver and Oliver with conspiring to submit false tax returns to the Internal Revenue Service and seeking tax refunds based on false information on IRS forms.

Attorneys for the five could not immediately be reached.

Copyright 2011 by The Associated Press. All Rights Reserved.

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