We know John Elway as not only one of Denver's most beloved athletes but also as a successful businessman and outstanding community member. That's why companies pay Elway thousands of dollars to speak at their events and individuals flock to hear him speak about the secret sauce to his success.
Elway is likely having second thoughts about one of his speaking roles after reports have surfaced that the firm he was paid to speak at, Centennial-based Speed of Wealth, LLC, is under investigation by the SEC.
The firm paid the winning quarterback to speak at a seminar to attract investors; however, the Denver Post today reports that the firm is now being accused by federal authorities of being involved in a Ponzi-like scheme. The company's assets have been frozen by a federal court.
According to The Denver Post, an Elway spokesperson says that Elway only spoke about his success and failures in business and in life at the September 26 event, and "did not promote specific investments, endorse the company or invest personally" in anything the company touted.
The Denver Post has the full details in its front page article today titled, "Elway was paid to speak by firm now probed by SEC."
What do you think of Elway's involvement in this matter? Speaking at the event certainly brought credibility to the business, but was Elway allegedly just as duped as the investors who bought into the promises of riches if this Ponzi-like scheme bears truth? Leave a comment and let's discuss.