Sean Mueller pleads guilty in Ponzi scheme that ripped off John Elway, others for $71 million
Last month, we told you about Sean Mueller's alleged Ponzi scheme, which reportedly netted $71 million from 65 investors. Included among them: Hall of Fame quarterback John Elway, whose $15 million loss may have pushed Mueller toward a suicide attempt. Today, Mueller pleaded guilty to multiple counts and faces up to forty years behind bars.
Look below to see details of the plea courtesy of the Denver District Attorney's Office, a larger version of Mueller's mug shot, and the complete arrest warrant, affidavit and offense info:
MUELLER PLEADS GUILTY IN PONZI SCHEME
A former hedge fund manager accused in a multi-million dollar Ponzi scheme has pleaded guilty today in Denver District Court.
Sean Michael Mueller (dob: 08-31-68) pleaded guilty to violating the Colorado Organized Crime Control Act (COCCA) (F2), securities fraud (F3) and one count of theft (F3). In exchange for his guilty plea on those three counts, an additional count of theft was dismissed. The case is being handled by Chief Deputy District Attorney Joseph Morales.
Mueller was arrested and charged last month for knowingly using new investor funds to pay existing investors, failing to deposit investor funds in brokerage accounts as promised, creating phony monthly account statements and creating phony brokerage statements to hide his scheme. Losses are estimated in the tens of millions of dollars.
As part of the guilty plea agreement, Mueller will face up to 40 years in prison when he is sentenced on December 6, 2010, at 1:30 p.m., in Denver District Courtroom 5G.
Mueller remains in custody in the Denver Detention Center.
Arrest warrant, affidavit, offense information:
More from our Sports archive: "John Elway: Should No. 7 be No. 23 on NFL Net's best players list -- and below Brett Favre?"
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