Ex-NY Giant off to prison after running a $35M Ponzi scheme

From NY Post:

Former Giants and Patriots cornerback Will Allen and his business partner have been sentenced to prison for running a Ponzi scheme that took in more than $35 million.

A federal judge in Boston sentenced Allen, of Davie, Florida, and Susan Daub, of Coral Springs, Florida, each to six years in prison and three years of supervised release. They also were ordered to pay restitution totaling $17 million.

Allen and business partner Susan Daub misled investors through their firm Capital Financial Partners by telling them they could profit by funding the athletes’ loans and receiving interest on it of up to 18 percent, according to a Securities and Exchange Commission; they raised $31.7 million from 40 investors from July 2012 to February 2015 but only shelled out $18 million in loans to athletes. They used about $7 million of the ill-gotten gains for personal expenses, including settling tabs they racked up at fancy nightclubs, casinos, pawn shops and limo companies, the feds say.

Interesting case here (for me at least) because an athlete conned other athletes out their money. I remember when they busted Madoff a couple athletes lost out on their investment. Looks like Allen found a way to keep busy after retiring in 2012... After all that now it looks like he'll have even more free-time on his hands.