Steve Neavling
ticklethewire.com
Former University of Georgia football coach Jim Donnan faces financial penalties and potential criminal charges in connection with a business venture, the Atlanta Journal-Constitution reports.
“He capitalized on his influence over one former player by telling him, ‘Your Daddy is going to take care of you’ … ‘if you weren’t my son, I wouldn’t be doing this for you,'” the Securities and Exchange Commission said in a civil complaint filed Thursday, according to the Journal Constitution.
The SEC says Donnan, 67, turned his venture, a liquidation business called GLC Limited, into a Ponzi scheme that defrauded investors, according to authorities.
Donnan, who is in the College Football Hall of Fame, coached the Bulldogs from 1996 to 2000.
