Former NFL defensive back charged in Ponzi scheme

Former NFL cornerback Will Allen has been accused by the U.S. Securities and Exchange Commission with operating a Ponzi scheme, according to the Los Angeles Times.

According to the SEC, Allen and his business partner Susan Daub allegedly raised $32 million starting in 2012, saying the money would be lent to professional athletes. The complaint alleges Allen and Daub used some money from investors to pay other investors and funneled millions of dollars to themselves.

Allen, 36, played 11 seasons in the NFL with the New York Giants, Miami Dolphins and New England Patriots after being selected in the first round of the 2001 NFL draft out of Syracuse by the Giants. He retired from football in 2012.

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