Advertisement - Click to support our sponsors.

Court bars isle
man’s ‘Enenkio’
bond sales

SEC wins a restraining order
against marketing the
'Enenkio' war bonds

---

By Russ Lynch
Star-Bulletin

A federal agency has acted to stop a Honolulu man from marketing $1 billion of bonds for what he calls the Kingdom of Enenkio, better known as Wake Island.

Claiming that Wake and four other atolls were seized illegally by the United States from their rightful native owners, Robert F. Moore of an Ala Wai address has listed bonds for sale on a Web site.

The "kingdom" has been marketing the "Enenkio Gold War Bonds" to raise funds for development, the Securities and Exchange Commission said today.

The SEC won a restraining order yesterday in federal court in Honolulu against Moore, who lists himself on the Web site as Minister Plenipotentiary of the kingdom. U.S. Judge Susan Mollway ordered Moore not to violate anti-fraud and securities registration regulations and to account for what he did with any money received for the bonds. She also ordered his assets frozen until the case is investigated.

The Enenkio.org Web site offered bonds for sale.

Moore could not be reached for comment. Neither could Kermit Rydell, another Honolulu resident, who has listed himself in emails as Enenkio State Secretary.

Mollway based her restraining order on an SEC complaint that said the kingdom "asserts ancestral tribunal rights to Wake Island and atolls in the Marshall Islands chain and claims an intention to develop its territories."

Moore has been claiming that the bonds are "backed by gold reserves, guarantees, real property or other assets." But Moore has no gold reserves, and no security -- real property or otherwise -- exists to back up the bonds, the SEC said.

The bonds were not registered with the SEC, as required by law, the commission said.

The SEC said the Enenkio materials promoting the bonds claim that they will pay a compound interest rate of 10 percent after five years.

The Web site -- http://www.enenkio.org -- is, among other things, selling Enenkio citizenship and "Diplomatic Service Corps" certificates. It asserts that His Majesty King Remios Hermios, a traditional chief in the Marshall Islands, is the rightful monarch of Enenkio.