Colorado

Apr 28, 2010 3:42 PM by Bea Karnes, News First 5

Denver-area man accused in Ponzi scheme

A hedge fund manager who claimed his investments never lost money even during the downturn faces allegations of running a Ponzi scheme.

Sean Mueller claimed assets of $122 million in one fund in December. Bank accounts seized by Colorado Tuesday showed a balance of $15 million, regulators said Tuesday.

Authorities say Mueller was rushed to a hospital on April 22 for treatment and evaluation after threatening to kill himself. In a lawsuit filed by the Colorado Attorney General on behalf of regulators in Denver District Court, Mueller is accused of recently raising at least $15 million from two investors and an unknown amount from others.

The case was first reported by The Denver Post.

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