There’s a very bizarre story coming out of Ohio this week as former Georgia coach Jim Donnan has been accused of making millions of dollars off a Ponzi scheme stemming from a company by the name of GLC Ltd. (known as GLC Enterprises upon its foundation in 2004).
Court documents obtained by ESPN state that Donnan and his wife “solicited investments from more than 50 individuals and entities to GLC”, which Donnan reportedly “pitched” as a retail liquidation company and a re-seller of consumer products. In all, Donnan and his family — including Donnan’s children and their spouses — reportedly made roughly $14.5 million from GLC in the form of several “fraudulent transfers” to “James and Mary Donnan or their immediate family members.”
The company, however, filed for Chapter 11 bankruptcy in an Ohio federal court in February. Donnan and his wife then filed for bankruptcy earlier this month. The current operators of GLC filed a lawsuit against Donnan’s children and their spouses Thursday (Donnan’s lawyer, Edward Tolley, claims a suit against Donnan and his wife would be a direct violation of federal bankruptcy law).
Donnan’s role in GLC is currently being disputed in the suit. Tolley confirms that Donnan was an investor of over $5 million in GLC, but denies that his client was ever an officer in the company. Tolley also denies that Donnan knew he was involved in a Ponzi scheme.
Surprisingly, a few high-profile coaches were also mentioned as investors in GLC — Oklahoma coach Barry Switzer, Virginia Tech coach Frank Beamer, Texas State coach Dennis Franchione and Texas Tech coach Tommy Tuberville.
According to the ESPN report, “investors sank nearly $82 million dollars into GLC Enterprises but less than $12 million was spent on inventory and at least $13 million in investor money remains unaccounted for. With dwindling revenues, GLC eventually used money from new investors to pay old investors, which, according to the court documents, constituted a Ponzi scheme.”
Donnan, who is an ex-ESPN analyst, also coached under Switzer at Oklahoma and was the head coach of Marshall from 1990-95 before moving on to Georgia.
‘No timetable’ for Wisconsin LB T.J. Edwards’ return from foot injury
Wisconsin will need all hands on deck if they hope to contain LSU’s Leonard Fournette in the 2016 opener at Lambeau field. Unfortunately for the Badgers, a key hand may be unavailable.
A report emerged late last week that T.J. Edwards would be sidelined indefinitely because of a foot injury. The Milwaukee Journal Sentinel wrote that “Edwards was seen wearing a walking boot this week and a source confirmed the redshirt sophomore is out” for the foreseeable future.
During the Big Ten Media Days Tuesday, head coach Paul Chryst somewhat addressed the linebacker’s status.
Paul Chryst said in local media session that there isn’t a timetable for ILB T.J. Edwards’ return from an injured foot. #Badgers
Leidner was one of the Gophers’ player representatives at the Big Ten Media Days Tuesday, and decided he’d share a post-operation picture of his surgically-repaired foot. Again, if your squeamish, look away.
Here’s what Minnesota QB Mitch Leidner endured this offseason. It’s amazing he’s healthy. This photo is likely NSFW. pic.twitter.com/3HmVyb9f0x
As if the photo doesn’t paint this picture, head coach Tracy Claeys acknowledged that the starter was worse off health-wise than the football program let on last year.
“We hid his injuries pretty good a year ago,” Claeys said according to the Minneapolis Star-Tribune. “He was banged up pretty good. The foot injury he had was tough and really limited him.”
Now, though, Leidner proclaims himself, “[p]hysically, I’m in the best shape of my life, by far.” The fifth-year senior, projected by some to be a first-round quarterback prospect in the 2017 NFL draft, added that he feels “like I’m throwing the ball better than I ever have before.”
VIDEO: Body cam footage shows Iowa football player’s encounter with police
The story of an Iowa football player, Pokemon Go and Iowa City police now has some visuals to go along with the oral narrative.
Over the weekend, officers in that police department were searching for a suspect in a bank robbery. Hawkeyes defensive lineman Faith Ekakitie (pictured, No. 56) just happened to be in a park in that area and seemingly matched the description of the suspect — black man in black clothing wearing something on his head — prompting the officers to approach the lineman. When Ekakitie failed to respond to the officers’ commands, because he was wearing headphones, weapons were drawn.
Because of the national attention the incident has received, the ICPD on Tuesday released two body cam videos that shows exactly how the encounter between their officers and Ekakitie went down.
“I think it’s critical we get the information out so people can actually see the events as they actually occurred in real time,” says ICPD Sgt. Scott Gaarde in regards to releasing the videos.
In his social media missive, Ekakitie thanked the police officers involved for how they handled the situation.
“I would like to thank the Iowa City Police department for handling a situation very professionally,” the lineman wrote. “I would also urge people to be more aware of their surroundings because clearly I wasn’t.
“Lastly, I would urge us all to unlearn some of the prejudices that we have learned about each other and now plague our minds and our society. I am convinced that in the same way that we learned these prejudices, we can also unlearn them.”
Arrest on UCLA campus led to USC CB’s suspension for opener vs. Alabama
The Los Angeles Times reported that USC cornerback Isaiah Langley was arrested back in May at a frat party at rival UCLA on three misdemeanor charges — suspicion of trespassing, intoxication and resisting arrest. USC head coach Clay Helton subsequently confirmed that Langley will be suspended for the opener against Alabama because of the incident.
From the Times on the events surrounding the arrest:
Langley was attending a fraternity party at UCLA when he was arrested, according to Greenstein. She said Langley gave responding officers the wrong age and resisted arrest.
“When he was asked to leave, he refused,” Greenstein said. “Police were called and he was arrested for misdemeanor trespassing.”
As a true freshman last season, Langley appeared in 11 games as a backup corner. He was credited with 12 tackles in limited action.
On his official bio, the school wrote that “Langley will battle for key playing time at cornerback as a sophomore in 2016.”