Judge releases money to Able Industries - KUAM.com-KUAM News: On Air. Online. On Demand.

Judge releases money to Able Industries

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by Mindy Aguon

Guam - Superior Court Judge Vern Perez has released the remainder of money that was sitting in a trust account to Able Industries. In a decision handed down last Friday, the judge granted Able's request for nearly $300,000 to pay an outstanding debt with First Hawaiian Bank, make payroll and pay retirement benefits to ASC Trust. 

The decision was immediately appealed by Eddie Yokeno, who filed suit against Able's management and board.  As we reported, Yokeno argues the organization is being mismanaged and that he and several others were improperly removed from the board.  Yokeno has asked the court to impose a receiver and to order the defendants to pay back the money he alleges was misspent by CEO Joaquin Leon Guerrero, board chair Elmore Cotton and board member Jennifer Duffie.  

Able Industries is currently under investigation by the U.S. Department of Labor and the organization that once boasted being the largest employer of disabilities on Guam has lost two federal contracts.

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