iOS app Android app More

John Elway Was Paid To Attract Investors To Alleged Ponzi Scheme

First Posted: 03/18/10 06:12 AM ET Updated: 05/25/11 03:40 PM ET

Super Bowl Xliii

Speed of Wealth LLC, the Centennial financial firm that was accused Monday of orchestrating a $30 million Ponzi scheme targeting green investors, had a secret weapon: Broncos legend John Elway.

Elway, a Superbowl-winning quarterback turned pitch man, was paid by Speed of Wealth LLC to represent the firm at conferences, and attract investors.

KDVR reports that Elway "did not promote specific investments or endorse the company." Elway's agent told KDVR that the quarterback has severed his relationship with Speed of Wealth LLC.

The Denver Post
adds that, while speaking on Speed of Wealth LLC's behalf at a conference in Colorado Springs, Elway ironically explained how fear plays into investing, saying:

"When you make an investment and you get a knot, that knot is telling you something. Understand where that fear is coming from."

See a slide show below of John Elways's illustrious second career as a pitch man.

The CELL

FOLLOW HUFFPOST DENVER

Filed by Ethan Axelrod  |