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Post by Jet Nut Sauce on Jul 14, 2015 20:14:11 GMT -5
www.cbssports.com/nfl/eye-on-football/25241440/ex-nfl-db-will-allen-indicted-on-23-felonies-faces-over-200-years-in-prisonFormer NFL defensive back Will Allen has been indicted on 23 federal charges, stemming from a $32 million Ponzi scheme he allegedly ran from July 2012 to February 2015. If convicted, the 36-year-old could be spending the rest of his life in prison. Allen was originally hit with civil fraud charges in April after authorities uncovered the scheme, which involved Allen making high-interest, short term loans to other athletes during the offseason. Allen didn't personally have the money to loan, so he would raise the money from investors, who would pay him because Allen would promise an 18 percent return. Once Allen had the money from the investors, he would use it on himself. Authorities believe that Allen and his business associate, Susan Daub, made almost $32 million while running the Ponzi scheme. Under the federal indictment, which was first obtained by the Palm Beach Post, Allen is facing a total of 23 felonies for his role in the Ponzi scheme. The indictment includes "12 counts of wire fraud, six counts of aggravated identity theft, one count of conspiracy to commit wire fraud and four counts of illegal monetary transactions." According to the Palm Beach Post, Allen is facing up to 20 years in prison for each count of wire fraud, which means Allen's looking at 240 years behind bars for those charges alone. The former first round pick has been behind bars since his arrest in June. Allen, who spent 10 years in the NFL after being selected by the Giants with the 22nd overall pick in 2001, played five seasons in New York and five seasons in Miami.
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Post by Trades on Jul 15, 2015 6:12:38 GMT -5
www.cbssports.com/nfl/eye-on-football/25241440/ex-nfl-db-will-allen-indicted-on-23-felonies-faces-over-200-years-in-prisonFormer NFL defensive back Will Allen has been indicted on 23 federal charges, stemming from a $32 million Ponzi scheme he allegedly ran from July 2012 to February 2015. If convicted, the 36-year-old could be spending the rest of his life in prison. Allen was originally hit with civil fraud charges in April after authorities uncovered the scheme, which involved Allen making high-interest, short term loans to other athletes during the offseason. Allen didn't personally have the money to loan, so he would raise the money from investors, who would pay him because Allen would promise an 18 percent return. Once Allen had the money from the investors, he would use it on himself. Authorities believe that Allen and his business associate, Susan Daub, made almost $32 million while running the Ponzi scheme. Under the federal indictment, which was first obtained by the Palm Beach Post, Allen is facing a total of 23 felonies for his role in the Ponzi scheme. The indictment includes "12 counts of wire fraud, six counts of aggravated identity theft, one count of conspiracy to commit wire fraud and four counts of illegal monetary transactions." According to the Palm Beach Post, Allen is facing up to 20 years in prison for each count of wire fraud, which means Allen's looking at 240 years behind bars for those charges alone. The former first round pick has been behind bars since his arrest in June. Allen, who spent 10 years in the NFL after being selected by the Giants with the 22nd overall pick in 2001, played five seasons in New York and five seasons in Miami. Those Giants sure are classy. I wish Jets players could be more like them. |
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Post by DDNYjets on Jul 15, 2015 6:19:44 GMT -5
Ponzi schemes are so 2008.
Would love to find out who the morans are that gave him money.
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Post by gibby on Jul 15, 2015 7:38:25 GMT -5
Wow! He's going to be like - what ? 230 or so when he gets out!!
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Post by Deleted on Jul 15, 2015 10:08:08 GMT -5
Wow! He's going to be like - what ? 230 or so when he gets out!! $32MIL could grow into a nice retirement fund. Which is good, because replacing his butt will be expensive. |
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Post by Jet Nut Sauce on Jul 15, 2015 23:34:06 GMT -5
Ponzi schemes are so 2008. Would love to find out who the morans are that gave him money. The Irish? |
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Post by Jet Nut Sauce on Jul 15, 2015 23:36:13 GMT -5
www.cbssports.com/nfl/eye-on-football/25241440/ex-nfl-db-will-allen-indicted-on-23-felonies-faces-over-200-years-in-prisonFormer NFL defensive back Will Allen has been indicted on 23 federal charges, stemming from a $32 million Ponzi scheme he allegedly ran from July 2012 to February 2015. If convicted, the 36-year-old could be spending the rest of his life in prison. Allen was originally hit with civil fraud charges in April after authorities uncovered the scheme, which involved Allen making high-interest, short term loans to other athletes during the offseason. Allen didn't personally have the money to loan, so he would raise the money from investors, who would pay him because Allen would promise an 18 percent return. Once Allen had the money from the investors, he would use it on himself. Authorities believe that Allen and his business associate, Susan Daub, made almost $32 million while running the Ponzi scheme. Under the federal indictment, which was first obtained by the Palm Beach Post, Allen is facing a total of 23 felonies for his role in the Ponzi scheme. The indictment includes "12 counts of wire fraud, six counts of aggravated identity theft, one count of conspiracy to commit wire fraud and four counts of illegal monetary transactions." According to the Palm Beach Post, Allen is facing up to 20 years in prison for each count of wire fraud, which means Allen's looking at 240 years behind bars for those charges alone. The former first round pick has been behind bars since his arrest in June. Allen, who spent 10 years in the NFL after being selected by the Giants with the 22nd overall pick in 2001, played five seasons in New York and five seasons in Miami. Those Giants sure are classy. I wish Jets players could be more like them. I wonder if Fatcessa approved? |
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Post by cgjet on Jul 16, 2015 9:15:21 GMT -5
Moral of the story, if anyone ever offers you a guaranteed 18% return on your money, walk away.
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Post by southside on Jul 17, 2015 10:05:12 GMT -5
Ponzi schemes are so 2008. Would love to find out who the morans are that gave him money. Seriously, like at what point do you stop giving people money.... up to 32M?!?! |
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Post by i against i on Jul 17, 2015 17:00:41 GMT -5
So I guess they'll defer the rest of David Wright's contract and pay him until 2050. Fool me twice, let's go Mets!!
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Post by Jet Nut Sauce on Jul 17, 2015 17:05:52 GMT -5
So I guess they'll defer the rest of David Wright's contract and pay him until 2050. Fool me twice, let's go Mets!! 1. What does this have to do with the Mets? 2. They won't have to defer any money. |
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Post by i against i on Jul 17, 2015 21:11:05 GMT -5
So I guess they'll defer the rest of David Wright's contract and pay him until 2050. Fool me twice, let's go Mets!! 1. What does this have to do with the Mets? 2. They won't have to defer any money. Bernie Madoff, Fred Wilpon, Bobby Bonilla, 1.5 million/year until 2035. They've done it already. |
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Post by Jet Nut Sauce on Jul 18, 2015 1:30:15 GMT -5
1. What does this have to do with the Mets? 2. They won't have to defer any money. Bernie Madoff, Fred Wilpon, Bobby Bonilla, 1.5 million/year until 2035. They've done it already. Which has nothing to do with this story. Especially deferring Wrights contract, which will never happen. BTW, other than giving ammo to clueless writers, the deferment of Bonillas contract was smart by thenMets, cost Bonilla millions. |
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