A federal grand jury indicted a Kailua man today on 28 criminal counts for allegedly stealing more than $890,000 from people in an investment fraud scheme in which people were told their money would be used to help victims of Hurricane Katrina.

Dan Doyle, 54, was charged with 27 counts of wire fraud and one count of mail fraud relating to a legitimate federal program designed to stimulate investment to rebuild areas of Mississippi damaged in the 2005 storm, the U.S. Attorney’s Office in Hawaii said in a news release.

The victims were people who heard Doyle’s offer on AM radio financial shows broadcast in California. Listeners were encouraged to call Doyle’s office in Kailua for investment information.

The government said Doyle told prospective investors that their money would go toward real estate projects in the federal "Gulf Opportunity Zone" in Mississippi, which provided tax incentives to real estate investors for hurricane reconstruction.

Doyle instead spent the money on personal expenses, such as mortgage payments on his Kailua home and yachting expenses, the indictment said.

Doyle owned and operated a business in Kailua using names including Investment Real Estate Network and Investment Radio Network, the government said.