Football Horse Face Boofed Out of $15 Mill

**gblowfish** · 10-14-2010, 10:48 AM

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 · 10-14-2010, 10:52 AM

LaChapelle · 10-14-2010, 10:52 AM

helicoptering into the ground

Hootie · 10-14-2010, 10:55 AM

Quote:

Originally Posted by gblowfish

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** · 10-14-2010, 10:58 AM

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 · 10-14-2010, 11:01 AM

"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 · 10-14-2010, 11:02 AM

Quote:

Originally Posted by 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.

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

Quesadilla Joe · 10-14-2010, 11:03 AM

Quote:

Originally Posted by 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.

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 · 10-14-2010, 11:03 AM

Quote:

Originally Posted by gblowfish

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.

Otter · 10-14-2010, 11:06 AM

Quote:

Originally Posted by 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.

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

**pr_capone** · 10-14-2010, 11:06 AM

Quote:

Originally Posted by KnowMo2724

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 · 10-14-2010, 11:08 AM

Quote:

Originally Posted by KnowMo2724

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 · 10-14-2010, 11:15 AM

Quote:

Originally Posted by KnowMo2724

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 · 10-14-2010, 11:17 AM

Quote:

Originally Posted by pr_capone

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** · 10-14-2010, 11:32 AM

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.

10-14-2010, 10:48 AM
gblowfish Be Kind To Your Pets Join Date: Jun 2002 Location: Glorious Independence, MO Casino cash: $17596178 VARSITY	Horse Face Boofed Out of $15 Mill 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.
Posts: 40,843

10-14-2010, 10:52 AM	#2
Hog's Gone Fishin Fish are scared of me Join Date: Nov 2001 Casino cash: $1400477
Posts: 40,400

10-14-2010, 10:52 AM	#3
LaChapelle Banned Join Date: Mar 2009 Casino cash: $10004900	helicoptering into the ground
Posts: 8,588

10-14-2010, 10:58 AM	#5
pr_capone ** SOC & ** YOU Join Date: Jan 2006 Location: Chiefs Hell Casino cash: $10018214	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.
Posts: 19,884

10-14-2010, 11:01 AM	#6
vailpass Psycho Bag Of Squanch Join Date: Sep 2001 Casino cash: $9594244	"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.
Posts: 69,591

10-14-2010, 11:32 AM	#15
Rain Man NFL's #1 Ermines Fan Join Date: Jul 2001 Location: My house Casino cash: $2998491 VARSITY	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. __________________ I'm putting random letters here as a celebration of free speech: xigrakgrah misorojeq rkemeseit.
Posts: 141,692