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Jim Donnan charged in Ponzi scheme

Updated: August 16, 2012, 3:37 PM ET
Associated Press

ATLANTA -- Former Georgia football coach Jim Donnan is accused of orchestrating an $80 million Ponzi scheme, using his own prominence to get high-profile college coaches and former players to invest, the U.S. Securities and Exchange Commission said Thursday.

Donnan and business partner Gregory Crabtree, of Proctorville, Ohio, convinced investors to pour millions of dollars into a business they said was unique and profitable with huge potential and little risk, said William P. Hicks, associate ...

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