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DAILYALTS: Blaine Rollins: The Week Of Sand And Dollars:
FYI: May is now in the books and it was only forgettable if you were investing in non-US$ equities, bonds or commodities. U.S. stocks did fine and some managers found a few big hits in the many takeovers that hit the tape. The most important move during the month was the bounce in the U.S. dollar which was treading on thin ice at mid-month. Regards, Ted http://dailyalts.com/the-week-of-sand-and-dollars/
Former manager from Janus. Short piece from Denver Post in 2014.
In perhaps his biggest misstep, he invested with a neighbor from Cherry Hills Village named Sean Mueller, who promoted a day-trading system offering returns of 12 percent to 20 percent a year.
In 2009, Rollins signed on as Mueller's director of research. But Mueller, like Armstrong, hid a much darker side than the charismatic persona projected in public.
In 2010, Mueller received a 40-year prison sentence for running a $71 million Ponzi scheme that defrauded 65 investors, including former Denver Broncos quarterback John Elway.
Sven & John Chisum: Let's get our facts straight !
Mr. Mueller used one of Denver's most elite organizations to find potential investors. He wooed members of the tony Cherry Hills Country Club, an opulent golf club in a Denver suburb that is dotted with mansions, according to investors. He also wooed neighbors from Cherry Hills Village where he lived and relied on the names of his most prominent clients to promote his own fund, investors said.
One such prominent investor was former Janus Capital money manager Blaine Rollins who once oversaw $11 billion in the Janus Fund. Mr. Rollins not only invested in Mr. Mueller's fund, but he also worked for the business, becoming the director of research last year, according to his attorney, Dan Shea of Hogan & Hartson LLP.
Mr. Shea said that Mr. Rollins had no knowledge of the alleged fraud, adding that his client also lost money. "Blaine invested a substantial amount of money and never made a withdrawal," Mr. Shea said. "He still to this day does not know what Mueller did." Regards, Ted
My opinion of Janus remains the same. Mr. Rollins is unlucky that his name was involved in the scheme. He doubled his lack of luck by being involved with Lance Armstrong of the Livestrong Foundation.
Hopefully he will do well on his own. I won't invest with him.
Comments
Mr. Mueller used one of Denver's most elite organizations to find potential investors. He wooed members of the tony Cherry Hills Country Club, an opulent golf club in a Denver suburb that is dotted with mansions, according to investors. He also wooed neighbors from Cherry Hills Village where he lived and relied on the names of his most prominent clients to promote his own fund, investors said.
One such prominent investor was former Janus Capital money manager Blaine Rollins who once oversaw $11 billion in the Janus Fund. Mr. Rollins not only invested in Mr. Mueller's fund, but he also worked for the business, becoming the director of research last year, according to his attorney, Dan Shea of Hogan & Hartson LLP.
Mr. Shea said that Mr. Rollins had no knowledge of the alleged fraud, adding that his client also lost money. "Blaine invested a substantial amount of money and never made a withdrawal," Mr. Shea said. "He still to this day does not know what Mueller did."
Regards,
Ted
Source:
Al Lewis, WSJ 4/29/10
http://www.denverpost.com/ci_14994090
My opinion of Janus remains the same. Mr. Rollins is unlucky that his name was involved in the scheme. He doubled his lack of luck by being involved with Lance Armstrong of the Livestrong Foundation.
Hopefully he will do well on his own. I won't invest with him.