Thursday, 28 August 2014
Last updated 54 min ago
Dec 6 2010 | 4:21am ET
Just one month after pleading guilty to running a $71 million Ponzi scheme, Sean Mueller will learn his fate.
The Colorado hedge fund fraudster will be sentenced today in Denver. He faces up to 40 years in prison on the securities fraud, theft and organized crime convictions.
Mueller's scam victimized some 65 investors, including Hall of Fame quarterback John Elway. According to prosecutors, Mueller lied to investors about the size and success of his Mueller Capital Management and its Mueller Over-Under Fund. According to the state’s lawsuit against him, Mueller admitted he scammed investors in a series of e-mails and notes written prior to an April suicide attempt, 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.
Only about $9.5 million remains in Mueller Capital's accounts, against some $140 million in liabilities.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...