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GREENWOOD VILLAGE, Colo.—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. A 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.
