Thursday, 26 November 2015
Last updated 14 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…