Ex-NFL Player Headed to Prison for 6 Years in Ponzi Scheme
BOSTON (AP) — Ex-NFL cornerback Will Allen and his business partner have been sentenced to prison for running a Ponzi scheme that took in more than $35 million.
A federal judge in Boston Wednesday sentenced Allen, of Davie, Florida, and Susan Daub, of Coral Springs, Florida, each to six years in prison and three years of supervised release. They also were ordered to pay restitution totaling $17 million.
Allen and Daub collected millions from investors between 2012 and 2015, saying it would be used for high-interest loans to professional athletes. Their Massachusetts business made some loans but they also diverted money to themselves and other ventures.
Both pleaded guilty in November to charges including wire fraud and money laundering.
A first-round pick, Allen played for the New York Giants and Miami Dolphins from 2001-11. He also played briefly for the Patriots before retiring in 2013.