CENTENNIAL, Colo. - A firm that hired NFL Hall of Fame quarterback John Elway is under investigation by federal authorities.
The Denver Post reports Speed of Wealth, based in Centennial, had its assets frozen Monday. The company is accused of helping raise $30 million in a ponzi-like scheme.
Elway was hired to attract investors for the firm and spoke at investment conferences in Denver and Colorado Springs.
But his business agent, Jeff Sperbeck, says Elway did not promote specific investments or endorse the company. He said Elway is aware of the Securities and Exchange Commission investigation and he has no ongoing relationship with the companies involved.
The Post reports Elway spoke about Football, his parents and family, and his successes and failures in business at the investor conferences.
Wayde and Donna McKelvy founded Speed of Wealth. They are co-defendants in the SEC complaint filed in Denver Monday. Investigators accuse the company of using funds from recent investors to pay off earlier investors.
The Denver Post reports Speed of Wealth, based in Centennial, had its assets frozen Monday. The company is accused of helping raise $30 million in a ponzi-like scheme.
Elway was hired to attract investors for the firm and spoke at investment conferences in Denver and Colorado Springs.
But his business agent, Jeff Sperbeck, says Elway did not promote specific investments or endorse the company. He said Elway is aware of the Securities and Exchange Commission investigation and he has no ongoing relationship with the companies involved.
The Post reports Elway spoke about Football, his parents and family, and his successes and failures in business at the investor conferences.
Wayde and Donna McKelvy founded Speed of Wealth. They are co-defendants in the SEC complaint filed in Denver Monday. Investigators accuse the company of using funds from recent investors to pay off earlier investors.
