Quantcast

Donnan on trial for role in pyramid scheme - abc27 WHTM

Donnan on trial for role in pyramid scheme

Posted: Updated:
Athens, GA - Former University of Georgia football coach Jim Donnan faces conspiracy, mail fraud and wire fraud  charges in Federal court in Athens, GA for his involvement in a pyramid scheme.  Jury selection was scheduled to begin Tuesday.

The 47 count indictment states Donnan and Gregory L. Crabtree of Proctorville, Ohio, promised large returns on investments made by GLC Limited, Inc., a West Virginia based company dealing with wholesale merchandise.

According to the indictment Crabtree is listed as President of GLC and Donnan represented himself as an officer of GLC (Vice President, CEO, CFO, and Co-Secretary).

Between 2007 and 2010 they raised over $81 million through 94 investors.

Donnan reportedly invested almost $5 million in the company with profits over $8 million.

Authorities have said Donnan convinced high-profile college coaches and former players to invest in the company. The money from new investors was continually needed to pay the company's expenses and other investors.

Crabtree, in April, pleaded guilty to one count of conspiracy to commit fraud in the sale of a security.  He faces up to five years in prison.           

Donnan has denied intentionally misleading investors.

  • Central Alabama NewsMore>>

  • Moody High School students mourn death of classmate

    Moody High School students mourn death of classmate

    Tuesday, August 19 2014 3:51 PM EDT2014-08-19 19:51:03 GMT
    Students at Moody High School are mourning the loss of their classmate. 16-year-old Jonathan Harris, a sophomore died Monday night from injuries sustained in a weekend rollover accident on Roberts Mill Pond Road in Pell City. Students wore blue on Tuesday, the school color of Moody High School, the same color he wore on the football field and on the wrestling mat. "Jonathan was always one of those kids who had a smile on his face. You would never catch him frowning or in a bad mood. He was ...More >>
    Students at Moody High School are mourning the loss of their classmate. 16-year-old Jonathan Harris, a sophomore died Monday night from injuries sustained in a weekend rollover accident on Roberts Mill Pond Road in Pell City. Students wore blue on Tuesday, the school color of Moody High School, the same color he wore on the football field and on the wrestling mat. "Jonathan was always one of those kids who had a smile on his face. You would never catch him frowning or in a bad mood. He was ...More >>
  • Alabama alligator hunter demolishes state record with 15-foot, 1000-pound gator

    Alabama alligator hunter demolishes state record with 15-foot, 1000-pound gator

    Tuesday, August 19 2014 12:35 PM EDT2014-08-19 16:35:24 GMT
    A family battled a 1,000-pound alligator for more than five hours, putting several large hooks into the beast before firing a fatal shotgun blast into the gator's head.More >>
    A family battled a 1,000-pound alligator for more than five hours, putting several large hooks into the beast before firing a fatal shotgun blast into the gator's head.
    More >>
  • Essential oils not allowed to be kept in JeffCo schools

    Essential oils not allowed to be kept in JeffCo schools

    Monday, August 18 2014 5:02 PM EDT2014-08-18 21:02:48 GMT
    The latest item to hit school ban lists are essential oils. Parents say these plant oils help their children suffering from seemingly most ailments from asthma to allergies. Jefferson County schools will not allow school nurses to administer them. Students cannot even keep them in lockers.More >>
    The latest item to hit school ban lists are essential oils. Parents say these plant oils help their children suffering from seemingly most ailments from asthma to allergies. Jefferson County schools will not allow school nurses to administer them. Students cannot even keep them in lockers.
    More >>
Most Popular
Stories
Videos
loading...
Powered by WorldNow