Will Allen—Ponzi Scheme
Will Allen, Former NFL Defensive Back, Allegedly Ran $32 Million Ponzi Scheme
Will Allen, former NFL defensive back, allegedly ran a $32 million Ponzi scheme from July 2012 to February 2015, according a recent Federal Indictment.
Will Allen, 36, allegedly ran a detailed Ponzi scheme which entailed Allen making high-interest, short term loans to other athletes during the offseason, the Indictment further alleges. As it turns out, the Indictment also notes, Allen reportedly did not have sufficient funds to make the loans, so he allegedly raised the capital money from other investors, who would pay him.
Once Allen had the money from the investors, to who he had purportedly promised an 18 percent return, he would then allegedly use the funds for his own personal use, according to the Indictment.
Ex-NFL Defensive Back Will Allen Indicted on 23 Felonies, Facing over 200 Years in Prison
Former NFL defensive back Will Allen has been indicted on 23 federal charges, disseminating from an alleged $32 million Ponzi scheme which he allegedly ran from July 2012 to February 2015, according to a Federal Indictment.
Authorities report that Allen and his business associate, Susan Daub, made almost $32 million while running the Ponzi scheme, according to said Indictment.
In sum, the indictment 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 Peiffer Rosca Wolf Securities Lawyers Working to Help Investors
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged Ponzi schemes. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of alleged Ponzi schemes may contact the investor rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.