Late last week, a judge shut down Mueller Capital Management, a hedge fund they believe was a ponzi scheme set up by Sean Mueller.
They had been investigating the fund for about a month and then last Thursday, the investigation got weird. According to Denver’s Channel 9 News, the police learned that Mueller tried to jump off a 19-story building on Thursday. (Investigators stopped him.) Then they obtained combination suicide-confession emails that Mueller sent to his clients before his attempt.
We don’t have the emails but it sounds like each client got a different note. One was titled, “thank you and sorry.”
An excerpt from one of the emails says, “Nobody had any idea what was happening…Nobody except myself had any access to the statements.”
“Just based on the wording of the letters, he has in fact lost the money and there is no hope,” Joseph told 9 News.
In the note, he said that the money was gone. This is definitely the saddest, most unfortunate email story we’ve ever heard: A combination of your money and your money manager is gone.
Mueller had apparently asked clients for a $500,000 minimum investment. “He purports to day trade the market and be in cash every night,” an anonymous whistle-blower told the SEC. “In eight years he shows clients he has never lost money in any monthly period. His returns are 12 per cent to 25 per cent a year. Quite remarkable for someone that you have never heard about.”
His scheme includes claims that sound similar to the Gryphon Fund’s, who claimed to have incredible 1500% returns until we found out last week had set up a hugely fake operation out of Staten Island.
Investigators told 9 News that Mueller was not arrested but was instead taken to the hospital.
The network couldn’t contact Mueller or his lawyer for a comment.
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