Broncos Great John Elway Loses 15 Million Dollars in Ponzi Scheme | Robert Littal Presents BlackSportsOnline

Broncos Great John Elway Loses 15 Million Dollars in Ponzi Scheme

by Robert Littal | Posted on Thursday, October 14th, 2010
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$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.

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