A former member of the New England Patriots was sentenced to six years in prison Wednesday for running a Ponzi scheme that defrauded investors who thought the former defensive back was making loans to other athletes.
Will Allen signed with the Patriots in 2012, but never played a down with the team after suffering an injury before the season started. He entered the National Football League in 2001 with the New York Giants, and also played with the Miami Dolphins.
Allen and business partner Susan Daub pleaded guilty in November in US Federal Court to two counts of wire fraud and one count each of conspiracy and money laundering. They were charged in 2015.
Prosecutors said Allen and Daub ran a Massachusetts company, Capital Financial Partners, that took in more than $35 million from investors between 2012 and 2015, supposedly to loan money and then earn money on the interest.
Some of the loans the duo claimed to issue never existed, authorities said, and in other instances, Allen and Daub exaggerated the size of the loans they made. They used new investments to repay existing investors, claiming the money was coming from loan payments.