Federal prosecutors are asking a judge to sentence Will Allen to 78 months in federal prison for running a Ponzi scheme.
Allen, a former cornerback for the New York Giants and Miami Dolphins, pleaded guilty to defrauding investors by raising cash for phony loans to professional athletes.
The feds are seeking a 50-month sentence for Susan Daub, a former banker and Allen’s partner in the scheme. Allen responded by seeking a 30-month sentence — and throwing his co-defendant under the bus.
“Ms. Daub was the professional banker at [Capital Financial Partners] and Mr. Allen unequivocally did not have the expertise necessary to deceive her about any aspect of their business,” wrote Oscar Cruz, Allen’s public defender. “In fact, the opposite is likely true as Ms. Daub had the greater ability to quietly siphon money from investors for herself and or members of her family such as Joshua Daub whom she involved in the business.”
The feds want Daub and Allen to make restitution of nearly $17 million.
Allen and Daub are scheduled to be sentenced Wednesday, and the feds are breaking out the stories of victims of the scam.
“Most of my retirement funds have been stolen by Sue and Will,” went one testimonial from an unnamed victim. “My retirement lifestyle has been seriously affected.”
Allen’s wife, Roshanda Allen, wrote a letter pleading for leniency.
“I know he realizes what he did wrong and I know he is truly embarrassed and heartbroken,” she wrote.
A few more details trickled out about Allen’s business, including a client list that’s a who’s who of pro athletes.
For instance, Allen said a $1.7 million loan to Karlos Dansby, the Cincinnati Bengals linebacker who once played for the Dolphins, was legit. Allen disputed prosecutors’ assertion that a loan to Dansby was fake.
Allen also made a $250,000 loan to Aroldis Chapman, the former closer for the New York Yankees and Chicago Cubs, according to court documents.
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