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Broken Trust: Greed, Mismanagement, & Political Manipulation at America's Largest Charitable Trust (Latitude 20 Books)
 
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Broken Trust: Greed, Mismanagement, & Political Manipulation at America's Largest Charitable Trust (Latitude 20 Books) [Paperback]

Samuel P. King (Author), Randall W. Roth (Author)
4.2 out of 5 stars  See all reviews (12 customer reviews)

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Book Description

Latitude 20 Books March 2006
Princess Bernice Pauahi Bishop was the largest landowner and richest woman in the Hawaiian kingdom. Upon her death in 1884, she entrusted her property--known as Bishop Estate--to five trustees in order to create and maintain an institution that would benefit the children of Hawai`i: Kamehameha Schools. A century later, Bishop Estate controlled nearly one out of every nine acres in the state, a concentration of private land ownership rarely seen anywhere in the world. Then in August 1997 the unthinkable happened: Four revered kupuna (native Hawaiian elders) and a professor of trust-law publicly charged Bishop Estate trustees with gross incompetence and massive trust abuse. Entitled "Broken Trust," the statement provided devastating details of rigged appointments, violated trusts, cynical manipulation of the trust's beneficiaries, and the shameful involvement of many of Hawai`i's powerful.

No one is better qualified to examine the events and personalities surrounding the scandal than two of the original "Broken Trust" authors. Their comprehensive account together with historical background, brings to light information that has never before been made public, including accounts of secret meetings and communications involving Supreme Court justices.

--This text refers to the Hardcover edition.

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Editorial Reviews

From the Publisher

"Broken Trust reads like a political thriller with a whole assortment of characters straight out of a Tom Clancy novel and plot twists that are always unexpected. I really enjoyed this book; it was hard to put down. A great read!" --Scott Simon, author of The Prudent Investor Act: A Guide to Understanding

"I loved this book! Some of the characters are truly unforgettable. I am still shaking my head at the fiduciary breaches and the conflicts of interest." --Professor Mary LaFrance, University of Nevada School of Law

"King and Roth build tension and suspense by describing how the trustees react to the tightening grip of at least four separate civil and criminal investigations. Subpoenas fly, surveillance photos are snapped, phones are bugged, tires are slashed, judges cry in court, suicide factors in. The IRS swoops in like a huge predatory bird and threatens to revoke the trust's tax-exempt status, which would cripple the schools. Is paradise lost?" --Eve Lichtgarn, Hawaii Reporter

"The players in Broken Trust jump off the page. . . . What makes Broken Trust so fascinating is that it works on multiple levels. It's a well-researched book about Hawaii's history and culture; a dramatic story of judicial, political, and corporate corruption; and a cautionary tale for acting or future charitable trust board members." --Christopher Quay, Exempt Organization Tax Review

"The two-year, emotionally charged crisis, which made headlines almost every day in the Islands, and was called `the biggest story in Hawaii since Pearl Harbor' by 60 Minutes, is an arguably more absorbing story in book form, with new details and accounts of secret meetings, than it was in the slow-developing daily newspaper drama. Almost certainly Hawaii's book of the year, a morality tale for each and every one of us." --Spirit of Aloha Magazine

"A breath-taking panoramic view, not only of the post-contact history of Hawaii, but also an intimate portrait of the birth, development, and travails of the world's wealthiest charitable trust. . . . An inspiring universal story of corruption and hubris, personal courage and integrity, civic responsibility, and cautious hope for an informed community committed to democratic process and ideals." --David Farmer, Hawaii Bar Journal

"Broken Trust brought me through every emotion. It is a straightforward lesson in trust obligation and accountability for sure, but it is also a glimpse into the communal conscience and value system of our ancestors and the Hawaiian community today. Whatever one takes away from the reading of this book--you cannot miss the opportunity to be inspired by everyday community members who put a stake in the ground, tied themselves to it, and faced the storm." --Robin Danner, President, Council for Native Hawaiian Advancement

"The book is quite extraordinary. I'm amazed at the level of detail--both in terms of the information and the authors' willingness to share it given the politicized nature of the subject matter. I'm also astonished that, with so much factual information, the book is incredibly engaging. It reads like a story--with the figure of B. P. Bishop looming silently in the background--rather than a historical text. Perhaps most importantly, I appreciate the apparent balance represented in the work. My inclination is to be sympathetic to the plight of Native Hawaiians. Yet, whenever I began to think the book reflected a pro-Western bias, the pendulum would swing almost immediately in the other direction. Or, maybe, it's just that I began to see as I turned the pages, how the issues surrounding the Bishop Estate and Native Hawaiians are not black and white, but clouded with all sorts of complications and shades of gray." --Professor Trina Jones, Duke University

"I just finished Broken Trust last night. I couldn't put it down! It read like a novel and I couldn''t wait to get to the ending." --Martin D. Begleiter, Distinguished Professor of Law, Drake University

"It is hard to imagine a better poster child for charitable malfeasance. . . . [F]inancial skullduggery looks to be only the consequence, not the cause, of a deeper rot." --Albert Keith Whitaker, Philanthropy Roundtable --This text refers to the Hardcover edition.

About the Author

Samuel P. King is Senior U.S. District Judge, District of Hawai`i, appointed in 1972, following eleven years as a Hawai`i State Circuit Court judge.

Randall W. Roth is professor of law at the University of Hawai`i. --This text refers to the Hardcover edition.


Product Details

  • Paperback: 324 pages
  • Publisher: University of Hawaii Press (March 2006)
  • Language: English
  • ISBN-10: 082483044X
  • ISBN-13: 978-0824830441
  • Product Dimensions: 8.8 x 5.9 x 0.9 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (12 customer reviews)
  • Amazon Best Sellers Rank: #66,160 in Books (See Top 100 in Books)

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Customer Reviews

12 Reviews
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Average Customer Review
4.2 out of 5 stars (12 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

14 of 16 people found the following review helpful:
5.0 out of 5 stars A riveting read about unbridled greed for money and power, March 10, 2006
By 
PsyKailuan "Keoki" (The Big Big Island) - See all my reviews
As a former 20 year resident of Hawaii and student of Professor Roth, I found this book to be as entertaining as any fictional crime story, but unfortunately more than true to life. It is easy to read yet full of detail and background. We lived in Hawaii during the period of time when the Bishop Estate and its trustees went from merely connected and powerful to arrogant, abusive and above the law. It was amazing to watch the speaker of the house become a trustee and continue to hold his speaker's position and vote on legislation directly affecting the trust. Professor Roth and Judge King provide the historical backgound to help the reader understand the origins of the trust and how the combination of immense wealth, control of large tracts of residential land, a one-party state, and a trustee nominating process linked hand in glove with the courts and the political process lead to such gross mismanagement and personal hubris. What is difficult to convey in just words to those who did not live in Hawaii during these times is just how untouchable the estate and the trustees were until the students and their families began to speak out, and how unprecedented the march on the trustees offices and the publication of the Broken Trust essay in the Star-Bulliten were. The book also provides additional insight into how the very political process that lead to the abuses then fostered the downfall of the trustees, as attacks on the unattackable (the trustees) became a way for an incumbent Democratic governor to distance himself from a party that had become synonymous with the excesses of the trustees. The only short-coming of the book is one that the authors cannot directly control - and that is the fact that many of the documents created during the investigation of the trustees are still blocked from publication. One can only hope that at some point in time the courts will see fit to honor Pauahi's request that there be a full accounting of the activities of the trust and its trustees. I will now probably go back to my bookshelf and pull out George Cooper's and Gaven Daws" "Land and Power in Hawaii" (a much denser read) and re-read chapter 13 -The Maryland Law.

Highly recommended.
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7 of 7 people found the following review helpful:
4.0 out of 5 stars A Must-Read for Followers of Non-Profit Organizations, August 29, 2006
This review is from: Broken Trust: Greed, Mismanagement, & Political Manipulation at America's Largest Charitable Trust (Latitude 20 Books) (Paperback)
As an attorney who serves on and counsels boards of non-profit institutions, I was espcially interested in this compelling tale of what amounts to a worst-case scenario. Princess Pauahi's last will left a trust corpus so large that it called for persons most experienced in management of investments. But for decades, the judge-appointed trustees (a decidedly amateurish lot) were insensitive to their awesome responsibility for providing high-level academic and cultural education to thousands of Hawaiian children, the beneficiaries under the last will of the Princess. This is a close account of the bumps and warts of trustees who have succumbed to temptation, from which we learn that trustees, regardless of the scale of assets under their administration, and regardless of the particular political system and the courts that have the duty to supervise them, need to be held to account regularly.
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6 of 6 people found the following review helpful:
5.0 out of 5 stars Very highly recommended reading, January 5, 2007
This review is from: Broken Trust: Greed, Mismanagement, & Political Manipulation at America's Largest Charitable Trust (Latitude 20 Books) (Paperback)
Written by district court judge Samuel P. King and law teacher Randall W. Roth, Broken Trust: Greed, Mismanagement & Political Manipulation at America's Largest Charitable Trust is the true story of greed, corruption, and mismanagement that plagued the "nation's wealthiest charity" according to the Wall Street Journal circa 1995 - the Bishop Estate, legacy of Hawaiian Princess Bernice Pauahi Bishop, who created the trust to maintain the educational institution of Kamehamea Schools and therefore benefit the children of Hawaii. In August 1997, four respected leaders of the native Hawaiian community and a professor of trust law publically accused the Bishop Estate's trustees with gross incompetence and severe trust abuse, to the point of being criminal, in a statement titled "Broken Trust". Now Broken Trust: Greed, Mismanagement & Political Manipulation gathers never-before-public information concerning the entire sordid matter, especially highlighting how corruption flourished in the legislature, courts, and legal profession, and how the media and the native Hawaiian community neglected to take a stand against it - virtually the opposite; the community would often be coaxed into protesting attempts to reform the trust or limit the power of the trustees. Broken Trust is not only a case study, but also offers larger lessons about the dangers of unchecked power and civil responsibility, and is very highly recommended reading for American and Hawaiian history shelves in public, college, and private libraries alike.
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