New York (HedgeCo.net) – Hedge fund manager Sean Mueller, who pleaded guilty last month to securities fraud and stealing $71 million from investors, was sentenced yesterday to 40 years behind bars.
Mueller Capital’s Over-Under Fund raised more than $20 million from three investors including former Broncos’ quarterback John Elway. An investment statement released by investigators showed only $15 million in his account, after the hedge fund had claimed assets of $122 million. Elway lost $15 million in the scam.
Mueller was found by police in April, where he is reported to have been considering a jump from about 19 stories. Mueller had also apologized to his clients for financial losses by Email.
“I’m very sorry for the damage I have done.” Mueller had left in a handwritten note, “I always thought I could make it back. Nobody else had any involvement except me.”
Alex Akesson
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