Word: rewald
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...Paris show, with some additions and substitutions, has now come to the Metropolitan Museum of Art in New York City-without Balthus's full blessing, it would seem, since he was offended by the number of facts about his life given by Art Historian Sabine Rewald in her catalogue. Balthus hates any biographical disclosures to be made: the Paris catalogue did not even give his date of birth. "Just say," he told the art critic John Russell, who organized a Balthus retrospective at the Tate Gallery in 1968, "that Balthus is a painter about whom nothing is known." However...
Aloha and goodbye: compared with his native Milwaukee, Honolulu must have seemed like Fantasy Island. He came in 1977 to start a new life. He promptly hooked up with Real Estate Salesman Sunlin Wong and created an investment firm grandly named Bishop, Baldwin, Rewald, Dillingham & Wong. Rewald and Wong, however, were the only unmisleading names on the company's letterhead. The others were included to convince investors that the firm was connected to Hawaii's old-line, blue-chip Bishops, Baldwins and Dillinghams, which it was not. Says one local businessman: "It was as if he arrived...
However brazen the bluff, the name-dropping worked. To prospective investors, Rewald looked gilt-edged by association: he bought a $950,000 house previously owned by deposed Cambodian Strongman Lon Nol and became chummy with Jack Lord, star of the 1968-80 Hawaii Five-O TV series. "Investors" included Lieut. General Arnold Braswell, the Air Force's retiring Pacific commander (more than $100,000), and John Kindschi, the former CIA chief in Honolulu...
...three years: earlier investors were paid dividends out of funds forked over by later ones. Of $1.3 million taken in last June, for instance, $326,000 in "interest" was paid out to earlier investors. But that same month a quarter of a million dollars was siphoned off by Rewald. He used the money to pay for exotic travel, his children's full-time tutor, and upkeep for two Hawaiian ranches, where he stabled his 17 or more polo ponies...
When state regulators became aware in July of the firm's false claim that it was FDIC-insured, Rewald's world began to unravel. The IRS and Securities and Exchange Commission started probing Rewald's affairs early this year. State officials issued investigative subpoenas in late July after Rewald's firm published Capital Flight from Hong Kong and How Hawaii Can Benefit, a report so transparently amateurish that it instantly raised eyebrows in Honolulu's financial circles. A few days later Rewald checked into a Waikiki hotel and slashed his wrists. Wong is in Honolulu...