Former New York Giants cornerback Will Allen ran a Ponzi scheme that bilked investors out of $32 million through fraudulent loans to professional athletes, regulators alleged in a lawsuit Tuesday.
Allen and his partner, Susan Daub, formed Capital Financial Partners, a firm that purported to make short-term loans to athletes during the off-season — a potentially lucrative business with high interest rates, the Securities and Exchange Commission said in its civil suit.
Read more