The Denver Post recently reported that legendary quarterback John Elway was recently the victim of a Ponzi scheme that lost the former Bronco $15 million.
Allegedly, Elway and his business manager Mitchell Pierce invested the millions with hedge fund manager Sean Mueller back in March. An ensuing investigation revealed that Mueller had collected $71 million in investments from 65 different people, yet only had $9.5 million in assets.
Elway is not the first athlete to lose millions through bad investments, as every year we hear stories about crooked accountants, thieving agents and a slew of poor investments.
With that in mind, we examine the 20 worst jock money flushes of all time.