Former NFL Player, Banker Get 6 Years For Ponzi Scheme

Law360, Boston (March 1, 2017, 11:01 AM EST) -- Former NFL player Will D. Allen and a former banker were sentenced to six years in prison Wednesday for running a Ponzi scheme that targeted investors with bogus or oversubscribed loans to professional athletes.

Allen, a defensive back who played for the New York Giants, Miami Dolphins and New England Patriots, and Florida resident Susan Daub had pled guilty in Boston federal court to ripping off investors and using the proceeds for personal expenses and other business ventures. When the walls started closing in, Allen and Daub paid off older investors with new investors’ money.

Allen told the court Wednesday he...

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