Horse Face Boofed Out of $15 Mill

[gblowfish]

Guess that deal he made with the Devil is coming home to roost:

http://tinyurl.com/22waaf2

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.

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.

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.

[Hog's Gone Fishin]

:loser:

[LaChapelle]

helicoptering into the ground

[Hootie]

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.

Damn that's terrible...

[pr_capone]

I swear... I will never understand why athletes with 7 digits in the bank ever try to make more money. They don't need any more money and when they do try to invest... 9 times out of ten they win up losing it.

I'd buy a modest house, a nice car, a 120 inch tv, and a PS3. Put the rest of that shit in the bank and go see the world.

[vailpass]

"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."

Sounds like he is out $3 million. Still a good chunk of change.

[kepp]

I swear... I will never understand why athletes with 7 digits in the bank ever try to make more money. They don't need any more money and when they do try to invest... 9 times out of ten they win up losing it.

I'd buy a modest house, a nice car, a 120 inch tv, and a PS3. Put the rest of that shit in the bank and go see the world.

This. You could probably live mostly off of the interest.

[Quesadilla Joe]

I swear... I will never understand why athletes with 7 digits in the bank ever try to make more money. They don't need any more money and when they do try to invest... 9 times out of ten they win up losing it.

I'd buy a modest house, a nice car, a 120 inch tv, and a PS3. Put the rest of that shit in the bank and go see the world.

Elway has made more money off the field than on it. Why should he waste his Economics degree that he got at Stanford.

[Mi_chief_fan]

http://tinyurl.com/22waaf2

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.

Good God, I may become permanently flacid.:eek:

[Otter]

I swear... I will never understand why athletes with 7 digits in the bank ever try to make more money. They don't need any more money and when they do try to invest... 9 times out of ten they win up losing it.

I'd buy a modest house, a nice car, a 120 inch tv, and a PS3. Put the rest of that shit in the bank and go see the world.

Lifestyles tend to mirror expendable cash no matter how modest you think you're going to live before you acquire the wealth.

[pr_capone]

Elway has made more money off the field than on it. Why should he waste his Economics degree that he got at Stanford.

He he gone into the business of economics right after school instead of the NFL sure. His degree would be useful to him because he has been able to keep up with the field and learned as he went.

Having a degree of economics, even from the prestigious Stanford, from 30 years ago is the equivalent of a person trying to get into the IT field now because he was MCSE certified for Windows 95.

[King_Chief_Fan]

Elway has made more money off the field than on it. Why should he waste his Economics degree that he got at Stanford.

he must have skipped class the day watch out for crooks and thier schemes were discussed.

[Hootie]

Elway has made more money off the field than on it. Why should he waste his Economics degree that he got at Stanford.

Very true.

[Hootie]

He he gone into the business of economics right after school instead of the NFL sure. His degree would be useful to him because he has been able to keep up with the field and learned as he went.

Having a degree of economics, even from the prestigious Stanford, from 30 years ago is the equivalent of a person trying to get into the IT field now because he was MCSE certified for Windows 95.

I disagree...

SOME people are content with $20M...

Sure...that's more than enough to live on...

But if he thinks his brand and his knowledge can turn that $20M into $200M...who are you to say otherwise?

KnowMo is right...dude has a Stanford degree...why can't he put it to use? Life doesn't die when football is over...

[Rain Man]

His wife left him? Didn't she "leave him" because he was "dating" that cheerleader while she was recovering from surgery for Crohn's Disease?


And while you hate to see someone have money stolen from them, you also hate to see someone steal a Lombardi trophy because they cheated on the salary cap. I suspect these losses are just karma taking back the under-the-table money he got after "playing for the league minimum" his last couple of years. Cheater. This wouldn't have happened if he had played for the Colts.

[Donger]

Oh, and he's engaged to a former cheerleader. A Raider cheerleader.

[Rain Man]

Maybe my timeline's off a little on the dating (not sure), but I really don't think as a wife you can trust a guy who won't play for the team that drafted him.

This whole financial thing is just another case of one criminal preying on another.

[HemiEd]

Sorry about his Father, Sister and Wife, but I find it funny as hell that he got screwed for some cash.

['Hamas' Jenkins]

http://img120.imageshack.us/img120/609/smallestviolinwz4.jpg

[manchambo]

Do you people have any idea how much money he's made? If I recall correctly, he sold his car dealerships for well over $50 million ( I did a quick Google and couldn't find the exact amount of the sale, but saw an article indicating that his dealerships grossed $130 million in 1994). Back when he was playing, he was making far more money from his business interests than from football. He currently owns two very successful steak houses in Denver (a local magazine named it the best steak joint in town recently).
I don't know what all else he's involved in, but I'm pretty confident he's doing just fine,even with this loss.

[vailpass]

$2 million loss will make his accountant happy this tax season.

['Hamas' Jenkins]

I still should have killed him when I saw him at the Mirage in 2005. I'll never fucking forgive myself for that.

[boogblaster]

Too bad .. guess its a life lesson ..

[blaise]

You can lead a horse to water and then to the bank and swindle him out of his money.

[Rain Man]

Do you people have any idea how much money he's made? If I recall correctly, he sold his car dealerships for well over $50 million ( I did a quick Google and couldn't find the exact amount of the sale, but saw an article indicating that his dealerships grossed $130 million in 1994). Back when he was playing, he was making far more money from his business interests than from football. He currently owns two very successful steak houses in Denver (a local magazine named it the best steak joint in town recently).
I don't know what all else he's involved in, but I'm pretty confident he's doing just fine,even with this loss.


Plus, he made a lot more money in football than was reported in the salary cap figures. Don't forget that.

[PunkinDrublic]

Oh I love it when bad things happen to people I hate.

[Quesadilla Joe]

Sooner or later Elway is going to own the Denver Broncos or at least own a very big chunk of the Broncos.

[Rain Man]

Sooner or later Elway is going to own the Denver Broncos or at least own a very big chunk of the Broncos.


Was that part of the deal when they were cheating on the salary cap with him?





As an aside, I have to reference the salary cap stuff three more times to meet the quota I have for any Elway-related thread.

[Hog's Gone Fishin]

Elway has made more money off the field than on it. Why should he waste his Economics degree that he got at Stanford.

Don't know why but the dumb fuck is obviously doing it.

[Sweet Daddy Hate]

Elway has made more money off the field than on it. Why should he waste his Economics degree that he got at Stanford.

ROFL My God; you can "KnowMo" ANYTHING!

His wife is coming back too, right? :)

[Slainte]

Sooner or later Elway is going to own the Denver Broncos or at least own a very big chunk of the Broncos.

Wonder how many of them will die in a tragic 15-month time span?

[Mile High Mania]

Do you people have any idea how much money he's made? If I recall correctly, he sold his car dealerships for well over $50 million ( I did a quick Google and couldn't find the exact amount of the sale, but saw an article indicating that his dealerships grossed $130 million in 1994). Back when he was playing, he was making far more money from his business interests than from football. He currently owns two very successful steak houses in Denver (a local magazine named it the best steak joint in town recently).
I don't know what all else he's involved in, but I'm pretty confident he's doing just fine,even with this loss.

It was roughly $80M dollars or so... I forget all the details.

I don't know the details of what happened with him and his wife, and it's none of my business. And yeah, he's engaged to a hottie former cheerleader now - Paige Green.

[Hog's Gone Fishin]

He had a twin sister. So that means there was Horse face and Horses ass.

[JohnnyV13]

As much as I hate to admit it, but super homer KnoMo is right about Elway.

Elway has been a tremendously successful businessman. Last I heard, he has a net worth over 250million.

Elway hasn't just sat on his economics degree, he used it to get into all kinds of ventures. I read about a guy who has been in business with Elway, and said he's a very analytical guy that knows his numbers (hello, an economics degree involves a hell of a lot of math).

Elway was into multiple car dealerships, endorsements, real estate deals. He's made more money in business than he did from his NFL salary by a factor of 5 to 10 times. Obviously, he leveraged his fame in things like his car dealerships and endorsements, but he's no idiot.

Yeah, he got screwed on a hedge fund, but 15 million isn't anywhere close to his whole piggy bank.

[Mile High Mania]

In the grand scheme of things, it's not near as bad as how Hunt and Pioli were hoodwinked by Cassel and his agent.

[JohnnyV13]

In the grand scheme of things, it's not near as bad as how Hunt and Pioli were hoodwinked by Cassel and his agent.

ROFL. Crap, that's gallows humor, because I'm sick of Cassel and can't wait 'til he's gone.

Something is fundamentally wrong today, because now I'm agreeing with TWO donk fans. I might require an exorcism.

[beach tribe]

I still should have killed him when I saw him at the Mirage in 2005. I'll never ****ing forgive myself for that.

ROFLROFL:clap:ROFL

[googlegoogle]

Hedge fund managers = shady.

[Wyndex]

In the grand scheme of things, it's not near as bad as how Hunt and Pioli were hoodwinked by Cassel and his agent.
Lmao

[Sweet Daddy Hate]

He had a twin sister. So that means there was Horse face and Horses ass.

ROFL

In the grand scheme of things, it's not near as bad as how Hunt and Pioli were hoodwinked by Cassel and his agent.

Get fucked, Sir.

[Marcellus]

In the grand scheme of things, it's not near as bad as how Hunt and Pioli were hoodwinked by Cassel and his agent.

Damn that's the funniest post in this thread, and the truest.

Though Cassel won't see but half that $. Still 10x more than Elway "lost".

[Chief Chief]

To a true Chiefs fan, the definitive definition of "Schadenfreude" is found in this thread.