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.

  • Anniston - Gadsden Area NewsMore>>

  • Oneonta police need help identifying woman who stole flowers from gravesite (pictures)

    Oneonta police need help identifying woman who stole flowers from gravesite (pictures)

    Wednesday, July 23 2014 12:55 PM EDT2014-07-23 16:55:33 GMT
    Oneonta police have turned to Facebook in trying to identify a woman who apparently stole flowers from a gravesite at a Oakhill Cemetery on Tuesday.More >>
    Oneonta police have turned to Facebook in trying to identify a woman who apparently stole flowers from a gravesite at a Oakhill Cemetery on Tuesday.
    More >>
  • Suspect in Jacksonville shooting from June turns self in

    Suspect in Jacksonville shooting from June turns self in

    Tuesday, July 22 2014 7:06 PM EDT2014-07-22 23:06:38 GMT
    Jacksonville police said the suspect in the June shooting of a Calhoun County man turned himself into police Tuesday afternoon.More >>
    Jacksonville police said the suspect in the June shooting of a Calhoun County man turned himself into police Tuesday afternoon.
    More >>
  • Jacksonville man arrested for child pornography

    Jacksonville man arrested for child pornography

    Tuesday, July 22 2014 7:05 PM EDT2014-07-22 23:05:18 GMT
    William Franklin Harper (Photo: Calhoun County Sheriff's Office)William Franklin Harper (Photo: Calhoun County Sheriff's Office)
    The Alabama Bureau of Investigation’s CyberCrimes Unit arrested a Jacksonville man Tuesday for possession of child pornography.ABI officers served a search warrant at the home of 49-year-old William Franklin Harper. Harper is charged with four counts of possession of child pornography.He is currently in custody at theCalhoun County Jailwith bond setat $100,000 bond.During the search, investigators found methamphetamine. Agents of the Alabama Alcohol Beverage Control Board and the Calhoun Coun...More >>
    The Alabama Bureau of Investigation’s CyberCrimes Unit arrested a Jacksonville man Tuesday for possession of child pornography.ABI officers served a search warrant at the home of 49-year-old William Franklin Harper. Harper is charged with four counts of possession of child pornography.He is currently in custody at theCalhoun County Jailwith bond setat $100,000 bond.During the search, investigators found methamphetamine. Agents of the Alabama Alcohol Beverage Control Board and the Calhoun Coun...More >>
Most Popular
Stories
Videos
loading...
Powered by WorldNow