BUSINESS

John Elway juked out of $15M by Ponzi scheme

TAGs: John Elway, Mitchell Pierce, Ponzi scheme, Sean Michael Mueller

John Elway and his business partner Mitchell Pierce are making headlines after news broke that Elway had been scammed out of his $15M investment by Sean Michael Mueller who allegedly agreed to hold the money in trust until they agreed on where it would be invested. I guess by “in trust” Mueller really meant as part of his Ponzi scheme.

According to state investigators, Elway isn’t the only one who got sacked, 65 others invested some $71M into Mueller’s Ponzi scheme over the past ten years and now Meuller’s company only has $9.5M in assets and $45M in liabilities to show for it.

Elway would have been better off gambling his $15M online or at a casino, at least he might have got something back in return, at the very least he would have had some free drinks and some casino comps. It gives credence to what industry professionals have been saying for years, there’s other fat cats that have been ruthlessly taking hard working American’s money for years that have operated impunity…And make no mistake, those cats aren’t supplying any forms of entertainment in return.

Perhaps this type of thing happening to an American icon like John Elway will turn more heads and rattle some red, white and blue political feathers.

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