Banker Pleads Guilty To Pro Athlete Loan Fraud

Law360, Boston (November 21, 2016, 5:21 PM EST) -- A former banker admitted in Massachusetts federal court Monday to a Ponzi scheme involving false or overstated loans to pro athletes, a week after her co-defendant, a former National Football League player, did the same.

Susan C. Daub pled guilty to conspiracy, two counts of wire fraud and money laundering in a 23-count indictment against her and former football player Will Allen. Prosecutors will recommend a sentence of four years and two months for Daub, below the recommended guideline of 78 to 97 months.

Daub told U.S. District Judge William Young that she was pleading guilty because she was guilty....

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