BOSTON (AP) — A former NFL player and his business partner have pleaded guilty to running a multi-million-dollar Ponzi scheme involving fraudulent loans to professional athletes.
Prosecutors say Will Allen, a former cornerback for the New York Giants, Miami Dolphins and New England Patriots, and Susan Daub, pleaded guilty to federal fraud, conspiracy and money laundering charges in federal court in Boston.
Daub, 56, of Coral Spring, Florida, pleaded guilty Monday while Allen, 38, of Davie, Florida, pleaded guilty last week.
Prosecutors say they got money from investors by saying they were making high-interest loans to professional athletes. In some cases, the loans were for less than they claimed or were non-existent.
Prosecutors said they took in more than $35 million and repaid less than $22 million.
Sentencing is scheduled for February.
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