Advertisement - Click to support our sponsors.

Waikiki man
halts kingdom’s
$1 billion bond
sale on ’Net

---

By Russ Lynch
Star-Bulletin

The self-proclaimed Kingdom of Enenkio has halted its $1 billion bond sale and a Honolulu representative of the "kingdom" said in federal court that he will not try to sell the bonds.

Waikiki resident Robert F. Moore, 67, was in court yesterday as a result of a Securities & Exchange Commission action that won a temporary order earlier this month, stopping the promotion through the Web site www.enenkio.org.

The site claims that Wake Island and four nearby atolls rightfully belong to an ancient Marshall Islands kingdom called Enenkio. Moore is listed on the Web site as Minister Plenipotentiary to His Majesty King Remios Hemios, a traditional Marshallese chief.

The bonds initially were promoted to raise money for physical and economical development and the organizers claimed they were backed by gold reserves and real property. The SEC said in an Oct. 6 statement that there are no such gold reserves or property. Moore's attorney, Thomas P. Dunn, said no bonds were actually sold.

SEC officials have said that as far as they know, that is correct. If bonds were sold the SEC could have taken criminal action against Moore and others. Instead it acted to halt what it said was promotion of an unregistered security.

U.S. Judge Susan Mollway yesterday accepted an agreement between Moore and the SEC, in which Moore agreed to drop the program.

An "advisory" on the Enenkio Web site says the bond program has been suspended until further notice, since "certain unresolved legal issues have arisen."