{"id":4207,"date":"2017-03-06T16:50:11","date_gmt":"2017-03-06T22:50:11","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4207"},"modified":"2017-03-06T16:50:11","modified_gmt":"2017-03-06T22:50:11","slug":"defendants-convicted-ponzi-scam-touted-loans-professional-athletes-sentenced-prison","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/defendants-convicted-ponzi-scam-touted-loans-professional-athletes-sentenced-prison\/","title":{"rendered":"Defendants Convicted of Ponzi Scam That Touted Loans to Professional Athletes Are Sentenced to Prison"},"content":{"rendered":"

\t\t\t\tSusan C. Daub and William D. Allen have each been sentenced to six years in prison for running a Ponzi scam <\/a>that involved issuing loans to professional athletes. Allen, a former NFL player with the Miami Dolphins and the New England Patriots, and Daub have been both the subject of a criminal case and an Securities and Exchange Commission case over this matter. <\/p>\n

The two of them were arrested in 2015 on criminal charges of wire fraud, conspiracy, and charging money related to a specified illegal act. Along with their Capital Financial Partners Enterprises, Capital Financial Holdings, and Capital Financial Partners, the two of them raised nearly $32M from investors, who were told that they were providing loans professional athletes but would get back their money in full along with interest when the loans were repaid.<\/p>\n

In its civil case, SEC said that Daub and Allen only advanced about $18M to the athletes even though they\u2019d raised over $31M from investors. The regulator said that from 7\/2012 through 2\/2015, even though the defendants had only gotten back a little over $13M in loan repayments from the pro athletes, they paid back about $20M to investors by using investors\u2019 funds to make up for the almost $7M deficit. <\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Susan C. Daub and William D. Allen have each been sentenced to six years in prison for running a Ponzi scam that involved issuing loans to professional athletes. Allen, a former NFL player with the Miami Dolphins and the New England Patriots, and Daub have been both the subject of a criminal case and an […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792,3760,3741],"tags":[],"class_list":["post-4207","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams","category-sec-enforcement","category-securities-fraud"],"yoast_head":"\nDefendants Convicted of Ponzi Scam That Touted Loans to Professional Athletes Are Sentenced to Prison — Investor Lawyers Blog — March 6, 2017<\/title>\n<meta name=\"description\" content=\"Susan C. Daub and William D. 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