DENVER -- Federal regulators have accused four people and two companies of fraud in an alleged $30 million Ponzi scheme that lured 300 investors nationwide in purported eco-friendly investments.

The Securities and Exchange Commission alleges Wayde McKelvy and Donna McKelvy, who were married and living in Sunny Isle Beach, Fla., used their Centennial, Colo.-based company Speed of Wealth to find investors for Pennsylvania-based Mantria Corp.

The SEC filed a complaint in federal court Monday in Denver alleging the McKelvys and Mantria executives Troy Wragg and Amanda Knorr of Philadelphia overstated Mantria's successes to lure investors.

Speed of Wealth seminars were heavily advertised on TV, and even featured former Bronco John Elway. Elway's agent said he is aware of the investigation and that Elway is not affiliated with Speed of Wealth in any way, and that he was brought on only as a guest speaker to talk about football and team-building principles.

In the commercials, Wayde McKelvy promised people could get rich quick and save the environment at the same time.

"It's not your fault that you're not wealthy because you don't know what you don't know," McKelvy said in one of his video pitches.

Speed of Wealth promised returns of 17 percent or more. But the government said it took millions of dollars from hundreds of investors and used new money to pay off past investors. The SEC alleges the McKelveys used high-pressure tactics and short-term incentives in a green Ponzi scheme.

The program targeted people close to retirement and the McKelvys convinced people to liquidate their 401ks and home equity and invest in Mantria.

The SEC said the McKelvys lied to people on video saying, "We've built the world's first biorefinery plant." When in fact, "that plant has not been built," the SEC complaint said.

The company encouraged investment in the Mantria Corp., which it said was developing a charcoal substitute made from organic waste, called biochar.

In reality, the SEC said "It has not sold any biochar ... holds no patents on the process and the technology is at best in the testing phase.'"

One of the claims cited by the SEC involves a May 21, 2009, seminar where Wragg allegedly claimed that Mantria's biochar manufacturing system at Hohenwald, Tenn., is "producing $6.2 million annually." The SEC said that Amanda Knorr admitted that the Tennessee facility has never been operational and that it has never produced any revenues for Mantria.

The government has now frozen Speed Of Wealth's assets. An emergency court order also prohibits Speed of Wealth from taking any more money from people.

Until Tuesday, the company had an A on the Better Business Bureau Web site.

"When you alerted us to this information ... that is an indication for us to take them into a suspension status. If you look on the site now, they've actually been suspended," said BBB's Dale Mingilton. "If a company or investment folks start steering you to one product, be nervous."

Wragg and Knorr didn't return a phone message seeking comment. Donna McKelvy's voice mail wasn't accepting messages. Wayde McKelvy's phone number wasn't listed.

A man with a similar name -- Wayne L. McKelvy of Littleton -- also has a wife named Donna. He told 7NEWS he started getting calls from friends about 7 a.m. Tuesday, asking if he was in jail.

"This is a crazy situation and extremely frustrating," Wayne McKelvey said.