Jim Donnan, former University of Georgia football coach, has been accused in court documents of making millions of dollars from a Ponzi scheme, according to The Associated Press.
The AP obtained documents filed in a bankruptcy court in Ohio. The papers contend Donnan and his wife, Mary, attracted investments for GLC Ltd., which filed for bankruptcy in February. And those documents also claim the Donnan’s made commissions for new investments and eventually earned over $8 million doallars, according to the AP.
The Donnan’s lawyer has denied any allegations of wrongdoing.
Donnan served as the head football coach at Marshall University (1990–1995) and the University of Georgia (1996–2000). He retired with a career record of 104–40–1. He led the 1992 Marshall team to a NCAA Division I-AA National Championship.
Donnan was later inducted into the College Football Hall of Fame in 2009.
Currently, GLC is being restructured and the documents were filed by the company’s current operators.
Leave a Reply