HedgeCo.net – The Denver Post reports that authorities have seized the assets of local hedge fund manager Sean Mueller. The State is accusing him of running a Ponzi scheme involving approximately $122 million.
An investment statement released by investigators showed only $15 million in his account, after the hedge fund had claimed assets of $122 million.
Mueller Capital’s Over-Under Fund raised more than $20 million from three investors and that at least 30 more also may have made “substantial investments”, the Denver Post reported.
“I’m very sorry for the damage I have done.” Mueller said in a handwritten note, according to the Post.” I always thought I could make it back. Nobody else had any involvement except me.”
After threatening to kill himself, it is reported that Mueller was found by police last Thursday considering a jump from about 19 stories. Mueller had also apologized to his clients for financial losses by Email.
The hedge fund manager was taken to a hospital by the Greenwood Village police.