Former NFL defensive back Will Allen has been accused of being involved in a $37 million Ponzi scheme and faces a 23-count indictment related to it. He has reportedly pleaded guilty to four of those counts, per Law360.com.
Allen “entered a guilty plea to two counts of wire fraud, one count of conspiracy to commit wire fraud, and one count of monetary transactions in proceeds of specified unlawful activity” (h/t Pro Football Talk).
The Ponzi scheme that Allen and co-defendant Susan C. Daub are alleged to have put together targeted investors who thought their money was being used to make loans to athletes, per PFT. The investors would then make the money back, and more, when the athletes paid them back, plus a high interest rate.
Among the investors are reportedly several athletes, who were not named in the indictment.
Allen played for three teams in his 10-year career. He was drafted by the New York Giants in 2001 and spent five seasons with the franchise, starting 71 games. He then played five more years with the Miami Dolphins, starting 59 games. He finished his career with 15 interceptions, seven forced fumbles, six fumble recoveries and five sacks.