John Elway pitches for Speed of Wealth, alleged Ponzi scheme: If it looks like a scam...

Channel 7 led its newscast last night with a John Elway story -- not exactly a unique occurrence. Number 7 probably didn't enjoy it much, however, since it focused on Speed of Wealth LLC, an organization that paid Big John to appear at assorted events -- and which the Securities...

By Michael Roberts

November 18, 2009

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Channel 7 led its newscast last night with a John Elway story -- not exactly a unique occurrence. Number 7 probably didn't enjoy it much, however, since it focused on Speed of Wealth LLC, an organization that paid Big John to appear at assorted events -- and which the Securities and Exchange Committee accuses of being a $30 million Ponzi scheme.

No comments from Elway yet in the report linked above or similar ones offered by Channel 4 or the Denver Post. But one look at numerous Speed of Wealth videos starring Wayde McKelvy, who's accused of being behind the scheme (along with his wife, Donna), and the average person's bullshit detector will likely go off the charts.

The one above, which continues to linger on the SpeedOfWealth.com website, tries to lure saps to seminars by offering (I'm not making this up) home sites in Eastern Tennessee allegedly worth $25,000 -- and they're going to appreciate in value, you can bet! Look below for more, including the humorously titled (unless you lost a ton of cash) "Your Wealth Building IQ Sucks," and decide if Elway should have taken one look at this guy and run the other way.

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Michael Roberts began his career with Westword in 1990 as music editor. In 1999, he took on a new role, full-time media reporter, as author of a column called The Message. In 2008, he became the lead writer for Westword's news blog, The Latest Word, a position he held until January 2023. Michael continues to freelance for Westword, covering everything from business to sports and the media; he also contributes to Jazziz, a national music magazine. He holds a bachelor's degree from what is now Colorado Mesa University and master's degrees from the University of California, Los Angeles, and Northwestern University.

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