Those feelings stem from a class action lawsuit. The document states investors like Hutchinson gave Otto money. In turn, Otto secured the investment with a fake lease. Attorneys believe the scheme operated out of a West Fresno Business: Heritage Pacific Leasing. Hutchinson said he was getting a 9-percent return, "11 years, one hundred 30 something payments. They were never a day late. They were right on time."
Then last month, Otto sent a letter to investors saying the payments dried up. Attorneys believe Otto made pay outs not with lease revenues but with money from other investors. It's called a "Ponzi" scheme. Hutchinson said, "Your dreams are readjusted. That was a big chunk of money that went to a lot of things I planned. I am not upside down. I still have a job. I still have a 401k."
Just a few days after the letter, Otto committed suicide. Now attorneys want to get money from his estate to pay investors for their loss.
We attempted numerous times to get a comment from Otto's employees, but no one responded. The FBI is also investigating.
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