Tuesday, 23 September 2014
Last updated 12 hours ago
Oct 13 2010 | 12:07pm ET
Hedge fund manager Sean Mueller, who threatened to kill himself just a week before he was sued by Colorado regulators has bigger problems now.
The Mueller Capital Management founder has been charged with racketeering, securities fraud and theft. Mueller is accused of running a $20 million Ponzi scheme and lying to investors about the size and success of his Mueller Over Under Fund.
An arrest warrant for Mueller was issued in Denver, and bail was set at $2 million. He is expected to appear in court on Friday morning.
According to the state’s lawsuit against him, Mueller admitted he scammed investors in a series of e-mails and notes written prior to his suicide attempt in April, when he was talked down from a building in suburban Denver. In a note written after the suicide attempt, Mueller admitted that documents claiming his Over-Under Fund managed $122 million were falsified. He wrote that only $15 million remained of the $20.6 million he collected.
Mueller also allegedly promised double-digit returns regardless of market conditions, telling potential investors he had never lost money in eight years and consistently returned between 12% and 25% annually.
Among Mueller's 65 alleged victims is former Denver Broncos legend John Elway.
Mueller's assets were frozen in May.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.