Federal prosecutors have charged former University of Georgia football coach Jim Donnan and a business partner with operating a Ponzi scheme.
U.S. District Attorney Michael J. Moore in Macon announced the 85-count indictment that was unsealed Tuesday. The indictment says Donnan and Gregory L. Crabtree of Proctorville, Ohio, ran the scheme between 2008 and 2010.
Lawyers for Donnan and Crabtree did not immediately respond to calls and emails seeking comment. They were set to appear in federal court in Macon Tuesday afternoon.
The U.S. Securities and Exchange Commission last year filed a complaint against Donnan in federal court in Atlanta. It said Donnan used his influence to get high-profile college coaches and former players to invest $80 million into a pyramid scheme. That case is still pending. Copyright 2013 Associated Press. All rights reserved.
Monday, September 1 2014 11:00 PM EDT2014-09-02 03:00:16 GMT
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