Mueller Receiver Seeks $26 Million From Brokers

Mar 28 2012 | 11:34am ET

More than a year after Ponzi schemer Sean Mueller was sent to prison for 40 years, the court-appointed receiver in the case is going after his brokers.

C. Randel Lewis earlier this month filed an arbitration claim against Mueller's brokers, including M.S. Howells & Co. He's seeking $26 million.

Lewis alleges that the brokers ignored warning signs that Mueller's Over-Under Fund was insolvent. It was: Mueller was running a $71 million Ponzi scheme, promising investors double-digit returns. He also told investors that he had never lost money in eight years and that he managed $122 million; none of the claims were true.

Mueller pleaded guilty in November 2010 to ripping off some 65 investors, including Hall of Fame quarterback John Elway.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

The time was right

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 ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.