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Aloha Financial New Chief Financial Officer and SEC Investigation

Honolulu, Hawaii, December 18, 2013 --- Aloha Financials, Inc. announced today that Gidget Jones has joined Aloha Financial as the Chief Financial Officer. Jones is replacing Surfer Joe, who resigned a few weeks ago. This announcement comes on heels of a Securities and Exchange Commission investigation.

The SEC filed charges against Aloha Financials regarding past revenue recognition. The company maintains that they are unaware of any misreporting done by the prior CFO. They have disclosed they are in full cooperation and are voluntarily providing any applicable records to the Commission. Don Ho, the founder and CEO of Aloha Financials said, “We wish to assure our investors, as well as the public that our internal personnel changes will result in a stronger and more stable company.”

Jones brings over 20 years’ experience in finance operations and business law on the Islands. Her experience also includes several years as an auditor for the State of Hawaii. “Our executive committee is excited to have Ms. Jones on board,” said Don Ho. “Her innovative methods of finance management are a perfect fit for our existing team.”

“I am thrilled at the opportunity to join this team of professionals. Aloha Financials has a stellar reputation as a leader in our industry. I know that my years as an auditor will be an asset as we work with the SEC on providing records of revenue recognition. We intend to see the investigation through to the end and take full responsibility should any inaccurate reporting be discovered. However, I am confident that our full cooperation during this investigation will result in clearing our name of any wrongdoing.”

About Aloha Financials

Founded in 1974, Aloha Financials started as a small, family run business and exploded on the public...