Federal regulators have accused a Hall of Fame college football coach of running a Ponzi scheme that defrauded fellow coaches and his former players, the New York Times DealBook blog reported yesterday. Jim Donnan, a head coach of both Marshall University and the University of Georgia during the 1990s, is accused of teaming up with an Ohio businessman to cheat investors out of $80 million. The Securities and Exchange Commission filed a civil lawsuit in Federal District Court in Atlanta yesterday seeking to recover the ill-gotten gains and impose a penalty on Donnan, who lives in Athens, Ga., and his Cincinnati-based partner, Gregory L. Crabtree.
