California enters investigation into possible Ponzi scheme

05/21/2009 | Fresno Bee (Calif.) (free registration), The

The California Department of Corporations joined the FBI in investigating HL Leasing, which was accused of running a Ponzi scheme. The equipment-leasing firm in Fresno, Calif., closed after its owner, John W. Otto, committed suicide last week. The FBI said more than 1,000 investors might have been affected, with potential losses reaching $138 million.

View Full Article in:

Fresno Bee (Calif.) (free registration), The