In this earlier post, I linked to a Fresno Bee article about the FBI's investigation of HL Leasing as a Ponzi Scheme and the suicide of its owner John Otto. An investor/victim who reports holding "leases" from HL Leasing has started this John Otto/HL Leasing blog designed for investors to share information about HL Leasing.
In a Fresno KMPH story, a lawyer, who was retained by HL Leasing Owner John Otto just days before Otto's suicide, says he will find investors missing funds, which feds believe were stolen through a long-running ponzi scheme. [May 27 update: Other lawyers file Class Action Lawsuit Targeting HL Leasing in Fresno County Superior Court].
In a statement given to KMPH news, Daniel Callahan of the Orange County law firm of Callahan and Blaine, said:
"There aren't any warning signs that would indicate this is a Ponzi scheme. I don't see any evidence to support that."
He adds:
"I believe the money will be located in the accounts where it belongs," Callahan said.
It should be mentioned Callahan says he was hired by John Otto last Friday. Only a couple of days before Otto took his own life.
Callahan says he still needs to find all the paperwork pertaining to HL Leasing, and he is pleading for investors to remain calm.