Broncos Great John Elway Loses 15 Million Dollars in Ponzi Scheme
$15,000,000 is a lot of money to “invest”.
Before I handed over a “Haynesworth” style check of that amount, a DEEP background check would have to done on the person I was doing business with.
I know Elway isn’t hurting for money, but if you had a $100 and someone took $15, you would be heated.
Here are the details:
The Denver Post reported that the two invested $15 million with Sean Mueller in March with the understanding that the money would be placed in a trust until a final decision was made about where it would be invested.
About 65 people had invested $71 million with Mueller over the past decade. Yet in April, Mueller only had $9.5 million, according to a state investigator. He turned himself in to authorities on Wednesday on charges of racketeering, securities fraud and theft, and is being held in prison on $2 million bond.
I wonder what these guys are thinking when they take 90% of the money invested and spend it on themselves.
Do they think they won’t get caught?
You have to have an exit strategy.
I am not criminal, but at some point I would be like:
“You know something at some point these people are going to figure out their money is gone, I think I am going to fade into Bolivia with Mike Tyson.”
Maybe that is just me.