In its 2010 filing with the government, G Fiduciary, by then called BenefitGuard, reported transfers from the plan of $677,201 in 2010. Later in the filing, the only entity listed as getting a transfer is "West Coast Bank Pension Liquidity Plan and Trust Attn Matthew D. Hutcheson, Trustee."
'Suspicious'
Turlington, the consultant, said he got a $15,000 wire transfer from an account by that name at West Coast Bank in Oregon in October 2010, for work on the resort purchase. He said he didn't even look at the transaction details, figuring the money had come from Hutcheson, as planned.
"It wasn't until much later that we got suspicious," Turlington said. He has passed the information along to the Department of Labor, he said.
Hutcheson resigned as fiduciary of the NRSP in September, according to a letter to participants from Ary Rosenbaum, a New York attorney who replaced him.
"Mr. Hutcheson has been working on health-care reform with some in Washington, D.C., for over a year, and has finally acknowledged the wear and tear that has accumulated over many years of championing the cause of American workers' retirement security," Rosenbaum wrote on Sept. 12. "You should refrain from any negative conclusions."
More people came looking for money. John Fitzgerald, a former employee of Hutcheson's filed a complaint in state court in Ada County on Sept. 23, seeking $138,814 in damages for unpaid wages of $46,271.
$425,000 Loan
On Sept. 19, James Fletcher III sued Hutcheson and Green Valley Holdings LLC in Rappahannock County, Virginia, alleging that Hutcheson had failed to repay a $425,000, one-month loan made by Fletcher on March 29. Hutcheson pledged as collateral the $3.5 million mortgage on Tamarack's golf course, the complaint said. The interest rate was 5 percent per month.
Hutcheson failed to pay the loan within 30 days, as planned, Fletcher said in his complaint, then negotiated an extension until July 5, personally guaranteeing the modified loan. He missed that deadline, too, the complaint said.
In September, Hutcheson wrote to Idaho Governor C.L. "Butch" Otter and told him that Green Valley was struggling to acquire Tamarack because bankers were skittish.