Former NFL player indicted for 23 federal charges linked to Ponzi scheme

07/14/2015 // JusticeNewsFlash // (press release)

Florida – A former NFL player is facing more than 200 years in prison following an indictment on multiple felony charges stemming from a Ponzi scheme. CBSSports.com reported ex defensive back Will Allen was indicted on 23 federal charges for his alleged role in the $32 million scam.

Allen, 36, stands accused of making high-interest short-term loans to athletes using money raised from investors after promising them a return of 18 percent. He allegedly used the money obtained for himself.

The indictment, which was initially obtained by the Palm Beach Post, 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.”

The news source says that Allen faces up to 20 years prison confinement for each wire fraud count. He has been jailed since his June arrest.

Allen spent ten years playing for the NFL.

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