((HT: CFT/AP))
We've talked about the alleged Ponzi scheme that former college football analyst Jim Donnan has been embroiled in since July of 2011...
As seen here from the state of Ohio, the settlement in the state of Ohio, and how it seemed to travel (or trickle) down to the state of Georgia.
Donnan, the former UGA coach, has agreed to a bankruptcy settlement with GLC Limited- which used to be known as GLC Entertprises wehn this whole thing started.
If the deal is signed off on, Donnan repays a little over US$7-million to GLC, which says it’s owed almost twice that. Donnan has agreed to repay 80 percent of the losses of investors he recruited for GLC- which included coaches, both current and retired like Barry Switzer, Dennis Franchione, Frank Beamer and Tommy Tuberville. Investors, both known and unknown claim Donnan owed them about $27 million.
A hearing is scheduled for July 19th to see if all parties and a judge will sign off on all of this.
Here's a refresher from Joyce Oscar and the Southern Free Press...
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