The U.S. Securities and
Exchange Commission is accusing former University of Georgia football
coach Jim Donnan of conducting a Ponzi scheme.
The S.E.C. said in a
statement Thursday that Donnan worked with an Ohio man to conduct an
$80 million Ponzi scheme. The agency said other college coaches and
former players lost millions of dollars in the scheme.
Federal regulators say Donnan orchestrated the fraud with his business partner through West Virginia-based GLC Limited.
Donnan led teams at Marshall University and the University of Georgia and later became a television commentator.
William
P. Hicks, associate director of the SEC's Atlanta office, says Donnan
and his partner convinced investors to pour millions of dollars into a
business they said was unique and profitable with huge potential and
little risk.
Thursday, May 23 2013 8:45 PM EDT2013-05-24 00:45:30 GMT
Cody Chaffins' "Old School" blog is a place where he'll share some of his favorite treasures from the FOX 5 Sports archive.
Cody Chaffins' "Old School" blog is a place where he'll share some of his favorite treasures from the FOX 5 Sports archive. Every week, he will blow the dust off of 3/4'' and Beta tapes to uncover video that hasn't seen the light of day in decades. If you don't believe us, check out his first post!
It could have been the perfect matchup to cap an unforgettable game. LeBron James driving to the rim to face Roy Hibbert, one play to decide Game 1 of the Eastern Conference finals.
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A.J. Murray and Mott Hyde hit back-to-back homers in the top of the ninth inning to help reigning champion Georgia Tech beat Florida State 4-3 on Wednesday in pool play at the Atlantic Coast Conference tournament.
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