A lengthy court fight involving clients of a Jacksonville businessman who spent months comatose with millions of dollars unaccounted for has apparently ended with customers recovering about 79 cents of each dollar owed.
He regained consciousness long after the clients had filed claims each demanding tens or hundreds of thousands of dollars they had entrusted him to handle —– but that no one could put their hands on.
Hetsler ran a business that held profits from clients’ real estate deals until they could be reinvested without paying income taxes. But he had used the money to finance other deals without leaving directions for recovering clients’ money if he wasn’t available.after a section of the tax code allowing it, said they had lost about $6.5 million.
Hetsler’s land and accounts eventually yielded almost $8.1 million, but legal fees topped $1.3 million and about $750,000 more went to fees for the liquidator.
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