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John Elway Thrown for $15 Million Loss in Ponzi Scheme? NFL Great Wants His Money Back ASAP

John Elway (Wikipedia)
John Elway Thrown for $15 Million Loss in Ponzi Scheme? NFL Great Wants His Money Back ASAP
John Elway (Wikipedia)

DENVER (CBS/AP) Football Hall-of-Famer John Elway and his business partner gave $15 million to a hedge-fund manager now accused of running a Ponzi scheme.

The Denver Post reported Thursday that Elway, the former Denver Broncos superstar, and Mitchell Pierce filed a motion saying they wired the money to Sean Michael Mueller in March. They said Mueller agreed to hold the $15 million in trust until they agreed on where it would be invested.

A state investigator says 65 people invested $71 million with Mueller's company over 10 years, and it only had $9.5 million in assets in April and $45 million in liabilities.

Elway's filing asks that the court put their claims ahead of others so they can collect their money first. His lawyer declined to comment.