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Sources: FBI, IRS investigating Donnan

Updated: August 4, 2011, 5:38 PM ET
By John Barr | ESPN

ATHENS, Ga. -- The FBI and IRS are investigating an alleged Ponzi scheme that may have involved former University of Georgia football coach and ex-ESPN college football analyst Jim Donnan, according to court documents obtained by Outside the Lines and sources with knowledge of the investigation.

According to court documents, federal agents with the FBI and IRS began making inquiries as far back as April into the business dealings of West Virginia-based GLC Enterprises.

Federal bankruptcy ...

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