ATHENS, Ga. (AP) - College coaches are testifying they lost money in what prosecutors say was a fraudulent investment scheme run by former University of Georgia football coach Jim Donnan.
Media reports say North Carolina State University basketball coach Mark Gottfried and Texas State football coach Dennis Franchione testified Monday that they lost hundreds of thousands of dollars after investing in West Virginia-based GLC Limited.
The 69-year-old Donnan is on trial on charges including conspiracy, mail fraud and wire fraud. If convicted, he could face a potentially lengthy prison sentence.
Prosecutors say Donnan and another man told investors they were dealing in closeout or overstock merchandise and promised high rates of return, but they paid investors with other investor money.
Prosecutors have said Donnan used his extensive personal and professional network to lure investors.
Advertisement

NCAAF Headlines

More inNCAAF News  

NCAAF Top Stories

Thumbnail College Football Week 1 Betting Guide The 2016 College Football season is underway but the majority of the action begins next week. Here's a look at some of the line movement and odds for Week...
Thumbnail Cal vs. Hawaii College Football Pick California and Hawaii kick off the 2016 college football season from Sydney, Australia tonight. Will the Rainbow Warriors cover as huge...
Thumbnail Cal, Hawaii can put up points Will tonight’s College Football Kickoff between Hawaiiand Californiaprovided plenty of offensive fireworks? Here’s our take on the total.
Thumbnail Bettors backing Cal vs. Hawaii Despite the majority of public bettors backing California for Friday’s college football kickoff contest, the line has moved in favor of Hawaii.
Thumbnail Clemson Season Win Total Prediction   Few would argue that the best player in college football resides in Death Valley. After narrowly missing out on the ultimate prize this past January, will...
More inNCAAF Articles  

NCAAF Team Pages