Thursday, August 16, 2012

Former UGA Coach now facing Federal Fraud Charges

Jim Donnan

Jim Donnan, apparently everyone hardly new ya.

The former University of Georgia head coach and briefly ESPN analyst who actually made it to the College Football  Hall of Fame (who knew?) is now facing a slew of Federal Fraud Charges after being officially tied to a Ponzi scheme. The charges were announced by the SEC (No, not the football conference) in an announcement Thursday.

He is accused of trying to bring multiple coaches and players he had ties to into the scheme, some of whom did and some who lost a lot of money.

Read more from RIGHT HERE

In June, we reported Donnan had settled bankruptcy claims with the company he appears to have helped create to start the scheme in the first place.

You can read that story RIGHT HERE

The whole issue came to light back in 2011 when Donnan filed for bankruptcy. It was then, auditors discovered he owed a ton of money to the GLC Corporation. Investigators would later find out that he was a partner in that business and had sunk money in thinking he could create profitable returns for he and other investors.

Read the initial story we filed RIGHT HERE

Needless to say and without judging Donnan's innocence or guilt, you won't be seeing him on a coaching sideline...probably ever again. And if the allegations are proven to be true, he stands a chance of ending up in jail.

Certainly a turn nobody could predict for a guy who had a pretty decent run as a coach before his firing at UGA. the saying always goes, "You never really know about someone...until you know".

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