WAILUKU Wailuku businessman Lloyd Kimura pleaded guilty to four counts of securities violations in 2nd Circuit Court Tuesday morning.
Judge Joseph Cardoza accepted a plea agreement by which Kimura, 61, will be sentenced to up to two 20-year terms and two five-years terms, to run concurrently.
However, it was revealed that Kimura also plans to enter a plea to as-yet unannounced federal charges in U.S. District Court in Honolulu on Jan. 5.
Kimura’s Maui Industrial Finance Co. failed earlier this year. He was charged with making false or misleading financial statements, and with prohibited securities practices — defrauding two couples of amounts exceeding $100,000 each.