Not that SEC. The Securities and Exchange Commission.
Still, what a coincidence.
Not so cool? The fraud charges former Georgia coach Jim Donnanis facing from the SEC related to an $80 million Ponzi scheme in which he participated with co-defendant Gregory L. Crabtree.
You can check out the entire summary HERE, but Donnan (as one of the defendants) has been hit with three counts of fraud and one count of unregistered offering of securities.
Donnan was a financial investor in a West Virginia-based company by the name of GLC Ltd., which was reportedly pitched by Donnan to others, including other football coaches, as a retail liquidation company. Instead, other investors sunk millions upon millions of dollars into the company, which never produced the ROI it promised.
Donnan and his wife, as well as GLC, have already filed for Chapter 11 bankruptcy. Donnan recently reached a settlement in that bankruptcy case.