Elway Sacked In Bid To Get Mueller Money Back

Nov 24 2010 | 5:01am ET

Football great John Elway won't get any court-ordered special treatment to recoup his losses in a Colorado Ponzi scheme.

A Denver District Court judge denied the Hall of Fame quarterback's motion, in the city where his legend was made, to be put ahead of other victims of Sean Mueller's fraud. Elway and his business partner, Mitch Pierce, argued that Mueller had promised to keep the $15 million they invested earlier this year separate from the funds of other investors.

Judge Brian Whitney told Elway and Pierce to take up that argument with the court-appointed receiver in the case.

Mueller pleaded guilty last month to ripping about 65 investors off to the tune of $71 million. There is only about $9.5 million left in the accounts of Mueller Capital Management to cover the estimated $140 million in liabilities.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR