Allen And Daud Wire Fraud Case Study
Will Allen a former Miami Dolphins cornerback was charged by the US Attorney for the District of Massachusetts for running a $32 million Ponzi scheme involving professional athletes. Allen and his co-conspirator Susan Daub were indicted on 12 counts of wire fraud, one count of conspiracy to commit wire fraud and six counts of identity theft. Allen and Daub were also charged with money laundering, four counts for Allen and one for Daub.
The scheme involved a private lending firm managed by Allen and Daub and used to advertise private short-term loans to professional athletes. The loans ranged from $75,000 to $600,000 with a 12 month term.
For nearly three years, Allen and Daub raised money from unsuspecting investors, telling them that
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