Buzzing on Yahoo Sports:
Daily Fantasy

John Elway invested $15 million in a Ponzi scheme

Shutdown Corner

View photo


Hall of Fame quarterback John Elway and a business partner invested $15 million with a hedge-fund manager who was recently arrested for running a Ponzi scheme.

The Denver Post reported that the two invested $15 million with Sean Mueller in March with the understanding that the money would be placed in a trust until a final decision was made about where it would be invested.

[Related: Michael Vick, other NFLers, lose millions in scheme]

About 65 people had invested $71 million with Mueller over the past decade. Yet in April, Mueller only had $9.5 million, according to a state investigator. He turned himself in to authorities on Wednesday on charges of racketeering, securities fraud and theft, and is being held in prison on $2 million bond.

[Photos: More images of Broncos legend John Elway]

Elway and his partner have asked that their claim be processed ahead of any other investors' because their $15 million was supposed to be placed in a trust, not pooled with the money of the rest of the hedge fund. According to an April filing, $12 million of Elway's money was placed into a Morgan Stanley trust account, as expected. The other $3 million has gone missing.

Since retiring from football, Elway's personal life has veered toward the tragic. His father died of a heart attack, his twin sister passed away due to cancer and his wife left him all in a span of 15 months.

Other popular stories on Yahoo!:
Video: Justin Bieber disses Tom Brady in rap
Golfer challenges LPGA rule that you have to be born a woman
Trapped miner comes out waving soccer flag

Win cash prizes, pick a fantasy roster for just one day, join in minutes!

Learn how to play

Contest Entries Entry Fee Prizes Starts (EDT)
NFL $750K Baller 30880/85227 $10 $750000 Sunday 1:00 PM Enter
NFL $1 Single Entry 50/50 [Top 2,500 Win] 2668/5000 $1 $4500 Sunday 1:00 PM Enter
NFL $100K Tournament [$10K to 1st] 2246/4545 $25 $100000 Sunday 1:00 PM Enter
View Comments (0)