Back in July, there was a very strange story involving former Georgia coach Jim Donnan and his supposed involvement in a Ponzi scheme that resulted in a lawsuit against certain members of Donnan’s family.
According to a combination of court documents and testimonies, Donnan was a financial investor in a West Virginia-based company by the name of GLC Ltd., which was reportedly pitched by Donnan as a retail liquidation company. However, the lawsuit filed against Donnan’s family by the current operators of GLC claim that Donnan was an officer in the company.
A report from ESPN claimed “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.”
Investors in GLC included current college football coaches Frank Beamer and Tommy Tuberville.
In a follow up story on the situation, further court documents and sources close to Outside the Lines claim that the FBI and the IRS are now looking into the alleged Ponzi scheme. Federal authorities and Donnan’s representation have declined to comment.
What the two entities are looking for, and what would happen to Donnan if they find it, is still up in the air.
Donnan and his wife, as well as GLC, have already filed for Chapter 11 bankruptcy in an Ohio federal court. Donnan is currently being asked to pay $8.25 million to creditors.
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Ohio State has quietly added Joker Phillips and Brian Knorr — two experienced college coaches — to Urban Meyer’s staff.
Although the athletics department has not made an announcement yet, Phillips is listed in Ohio State’s employee directory as a sports program associate with the working title of “Football QC – kicking,” which presumably means he is a quality control assistant for the Ohio State kicking game.
Knorr is listed simply as an athletics intern.
OSU tonight confirms hire of former UK HC & Browns Asst Coach Joker Phillips to support position for Urban Meyer. Has no on-field duty.
Of the two, Phillips is the more experienced. Now 53, he began his coaching career as a G.A. at Kentucky, his alma mater, and eventually spent six seasons as a full-time receivers coach for the Wildcats in the early 1990s.
He also coached at Minnesota, Notre Dame and South Carolina before returning to Lexington as an assistant and eventually rising to head coach in 2010.
Make that four new additions to Texas’ 2016 recruiting class in late June.
The school announced Wednesday that Patrick Hudson, an in-state offensive lineman from Silsbee, has signed a financial aid agreement and is expected to enroll in Austin in July when the second summer session begins.
Hudson is a four-star prospect and the 50th-best player in the country according to 247Sports’ composite rankings.
He signed with Baylor in February but was granted a release from his letter of intent after a report accusing members of the school and athletics department of mishandling accusations and incidents of sexual assault delved the school into controversy.
J.P. Urquidez and brothers Devin and Donovan Duvernay also signed with the Longhorns in the past week.
“We’re really excited to have Patrick joining our program,” Texas coach Charlie Strong said in a release. “Patrick coming to Texas, along with J.P. and Donovan earlier this week, are tremendous additions to an already impressive class of 2016. Patrick and J.P. are two big, physical, talented linemen, and Donovan is an explosive athlete who has played on both sides. We’re looking forward to getting them on campus and working with the team.”
Urquidez is also a four-star offensive lineman while Devin Duvernay is a four-star receiver and Donovan Duvernay is a three-star athlete per 247Sports.
Texas’ class is ranked seventh nationally and No. 1 in the Big 12 as Strong looks to put a rocky start to his tenure behind him and return the Longhorns to national prominence.
They start the season with a visit from Notre Dame on Sept. 4.
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