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John Elway Invested Almost $15 Million In A Ponzi Scheme

John Elway and business partner Mitchell Pierce are fighting to get back almost $15 million dollars that the two gave to hedge-fund manager Sean Mueller for "future investments". The money was given to Mueller in March of 2010 and was to be held in a trust until investment decisions were finalized. 

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Yesterday, Mueller turned himself in to the Denver Police

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Mueller, 42, of Cherry Hills Village, turned himself in Wednesday morning, a day after being charged with racketeering, securities fraud and theft in a case that cost investors "tens of millions of dollars," authorities said. He is being held at the Van Cise-Simonet Detention Center in Denver on $2 million bond. He faces an advisement hearing Friday morning.

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Elway and business partner Mitchell Pierce said in a motion filed Tuesday that they met with Mueller in Denver on Feb. 22 to discuss an investment with his company, Mueller Capital Management.
In March, Elway and Pierce each wire-transferred funds to Mueller to be held in trust until they agreed on where to invest the money, the men said in the filing. On March 30, Mueller advised them he was still setting up managed accounts in their names, they said.

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