Car Dealer Leaves CUs Holding TheBag

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HONOLULU - (11/23/04) -- A local car dealer beinginvestigated for fraud by state authorities filed for Chapter 7bankruptcy earlier this month, leaving hundreds of thousands ofdollars in unpaid debts with area credit unions. Among those leftholding the bag by Jason Kim was Hickham FCU, listed on the federalbankruptcy petition as the biggest creditor of Kim's owner Dae HanAutos, with claims of $534,000, including car loans, a personalloan and credit card debt. Authorities are investigating claimsthat Kim accepted down payments and trade-ins for cars but failedto deliver the vehicles. The bankruptcy petition lists 101creditors with claims exceeding $1 million. Officials at HickhamFCU did not return phone calls seeking comment.

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