Former Miami Dolphins, New York Giants and New England Patriots cornerback Will Allen, along with a Florida woman, 54-year old Susan Daub, were charged by the Securities and Exchange Commission for running a ponzi scheme from 2012 until February of 2015.
A complaint was unsealed Monday night, according to the Wall Street Journal, and Allen along with his business partnerDaub, managed multiple companies they founded under the umbrella of “Capital Financial.” The pair gave questionable loans to athletes after raising money from investors, telling them they could receive up to 18 percent interest in returns. Then, Allen and Daub used money for personal expenses that included night clubs and pawn shops.
Allen and Daub reportedly ripped off over 40 investors for approximately $31 million and will certainly face jail time.
Source: FanSided
