Ex-NFL player William Allen, 1st-round pick in 2001, charged with running $32M Ponzi scheme

Published May 03, 2016

A former NFL player and an associate have been charged with running a Ponzi scheme through companies created to provide loans to professional athletes.

The Securities and Exchange Commission said in a complaint filed Tuesday in Boston that William D. Allen and Susan Daub raised almost $32 million from investors in 2012, gave out about $18 million in loans, and used about $7 million for personal expenses.

The complaint says they "used money from some investors to pay other investors, while ... funneling millions of dollars of investor money to themselves — the hallmarks of a Ponzi scheme."

Allen, a first-round draft pick in 2001, had an 11-year career with the New York Giants, Miami Dolphins and New England Patriots.

The complaint did not list attorneys for Allen and Daub.

URL

https://www.foxnews.com/us/ex-nfl-player-william-allen-1st-round-pick-in-2001-charged-with-running-32m-ponzi-scheme