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Mueller Accountants Targeted Over $147M Ponzi Roles

Law360 (April 26, 2011, 7:54 PM EDT) -- The receiver tasked with recovering funds for victims of Mueller Capital Management LLC’s $147 million Ponzi scheme filed more than a dozen clawback suits in Colorado state court Friday, including one implicating the hedge fund’s accountants in the fraud.

C. Randel Lewis claims that William Schaefer and William Saetveit, partners in Greenwood Village, Colo., accounting firm Bailey Saetveit & Co., were instrumental to the swindle, providing $40,000 in startup funding, tax accounting services and scads of investors for convicted fraudster Sean Mueller.

“Schaefer and Saetveit were...
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