John Elway invested $15 million with Sean Mueller, a hedge fund manager who turned himself into authorities yesterday on charges of racketeering, fraud and theft, the Denver Post reported.You may remember Mueller as the fund manager who threatened to throw himself off a building earlier this year, after emailing his clients a confession/suicide note.
He invested the money with a business partner back in March, and requested that the funds temporarily be placed in a trust account. While $12 million of Elway’s was found in a Morgan Stanley account, the remaining $3 million has gone missing.
Elway is just one of many athletes whose wealth disappeared into a Ponzi scheme. Allen Stanford’s ploy affected several major leaguers last year, including Phillies reliever Scott Eyre, whose salary was advanced because he couldn’t even afford his basic bills.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.