ATHENS, Ga. – A prosecutor says former University of Georgia football coach Jim Donnan abused the trust of friends and professional contacts to get them to invest in a fraudulent investment scheme.
Donnan's defense attorney argued Tuesday during opening statements in Donnan's federal trial that the former coach was, himself, a victim of the scheme.
A federal indictment last year charged Donnan and Gregory Crabtree with conspiracy, mail fraud and wire fraud. Prosecutors say the pair ran a scheme through GLC Limited, Inc., a West Virginia-based company that dealt in closeout merchandise.
Authorities have said Donnan convinced high-profile college coaches and former players to invest $80 million in the company, much of which was later lost. Donnan has denied intentionally misleading investors.
Crabtree pleaded guilty to a conspiracy charge last month.