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 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 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 has written for Westword since October 1990, serving stints as music editor and media columnist. He currently covers everything from breaking news and politics to sports and stories that defy categorization.
Contact: Michael Roberts