Ex-Patriots Cornerback Headed to Prison for Ponzi Scheme - NECN


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Ex-Patriots Cornerback Headed to Prison for Ponzi Scheme



    Ex-Patriots Cornerback Headed to Prison for Ponzi Scheme
    Cornerback Will Allen while playing for the Miami Dolphins on Nov. 20, 2011.

    Will Allen, a former NFL player with Patriots ties, was sentenced to six years in prison along with a former bank executive for a Ponzi scheme targeting professional athletes.

    Allen, 38, was a cornerback for the Giants from 2001 through 2005, then played for the Dolphins between 2006 and 2011, starting 130 games. He signed a one-year contract with the Patriots, but was placed on injured reserve before the 2012 season and never played another game.

    It was also in 2012 that Allen and 56-year-old Susan Daub began defrauding investors out of millions at Massachusetts-based Capital Financial Partners. Both were arrested in June of 2015, a few months after being sued by the Security and Exchange Commission.

    CFP claimed investors' funds would back high-interest, short-term loans to athletes. While some loans were made, authorities say Allen and Daub diverted millions of dollars to themselves and other ventures.

    The company received $35 million in investments and repaid under $22 million, according to acting U.S. Attorney William Weinreb.

    Allen and Daub pleaded guilty to wire fraud, conspiracy and money laundering charges in November of 2016. Wednesday, both were sentenced to six years in prison with three years of supervised release. They were ordered to pay about $16.8 million combined in restitution.

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