4
| Crime |

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

^
Keep Westword Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Denver and help keep the future of Westword free.

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.

Keep Westword Free... Since we started Westword, it has been defined as the free, independent voice of Denver, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Denver with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.

 

Join the Westword community and help support independent local journalism in Denver.

 

Join the Westword community and help support independent local journalism in Denver.