article_snippet.sent: Will Allen are facing civil fraud charges from federal regulators over allegations Former NFL cornerback Will Allen and his business partner Susan Daub ran a multi-million dollar Ponzi scheme.
article_snippet.sent: Former NFL cornerback Will Allen and his business partner Susan Daub're accused of reaping more than $31 million in a Ponzi scheme that promised high returns to investors from funding loans to cash-strapped pro athletes.
article_snippet.sent: The Securities and Exchange Commission announced civil fraud charges from federal regulators Monday against Former NFL cornerback Will Allen and his business partner Susan Daub.
article_snippet.sent: Will Allen his business partner are facing civil fraud charges from federal regulators over allegations Former NFL cornerback Will Allen and his business partner Susan Daub ran a multi-million dollar Ponzi scheme (file photo)
article_snippet.sent: the SEC the SEC said Will Allen paid about $20 million to investors but received only around $13 million in loan repayments from athletes.
article_snippet.sent: To make up the gap Former NFL cornerback Will Allen and his business partner Susan Daub paid investors with other investors' money rather than actual profits on the investments, in a classic Ponzi scheme, the SEC said.
article_snippet.sent: the SEC the SEC said Will Allen misled investors about the terms and even the existence of some of the loans, telling investors investors could receive interest on the loans of up to 18 percent from the athletes.
article_snippet.sent: Former NFL cornerback Will Allen and his business partner Susan Daub used some funds from investors to cover personal charges at casinos and nightclubs and to finance other business ventures, the SEC alleged.
article_snippet.sent: the SEC the SEC alleges that Allen and Allen business partner Susan Daub used some funds from investors to cover personal charges at casinos and nightclubs and to finance other business ventures (file photo) the SEC the SEC is seeking an injunction against Allen and Daub and the firms, as well as unspecified penalties and restitution of allegedly ill-gotten gains.
highlights_snippet.sent: Former NFL cornerback Will Allen and his business partner Susan Daub are facing civil fraud charges from federal regulators .
  
highlights_snippet.sent: Will Allen and his business partner Susan Daub allegedly reaped over $31 million in a Ponzi scheme that promised high returns to investors from funding loans to cash-strapped pro athletes .
  
highlights_snippet.sent: The SEC said Will Allen paid about $20 million to investors but received only around $13 million in loan repayments from athletes .
  
highlights_snippet.sent: To make up the gap Former NFL cornerback Will Allen and his business partner Susan Daub paid investors with other investors' money rather than actual profits on the investments, The SEC said .