Thursday, April 29, 2010

Colorado Hedge Fund Manager Accused Of Operating $100 Million Ponzi Scheme

Sean Michael Mueller, 41, of Greenwood Village, Colorado, has been accused of operating an investment fraud scheme that bilked at least 30 investors out of as much as $100 million. Mueller, who operated Mueller Capital Management LLC, claimed he never lost money in eight years and the company purported to have returns of 12 percent to 25 percent per year. According to reports, the Mueller Over-Under Fund claimed $122 million in assets in December. However, in a handwritten note following his threatened suicide, Mueller referred to bank accounts totaling only $15 million indicating, "This is what is left." Last Thursday Mueller was talked down by police after he threatened to jump to his death from his office building. Mueller has been hospitalized and a judge has placed his company under regulator control.

Read the story here, here, here and here.

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