Jim Donnan Accused Of Recruiting Frank Beamer, Others Into Ponzi Scheme

Friday night news wasn't all positive for those with ties to Georgia Bulldogs football. During the smash recruiting success of Dawg Night, former coach Jim Donnan's name was attached to an accusation of Ponzi scheme involvement in an extensive ESPN report.

We didn't make note at the time of reports of Donnan's family having declared bankruptcy, but it looks like we should have. Both stories have revolved around West Virginia company GLC Limited, which went under after being outed.

The College Football Hall of Fame coach's family is being sued over a decision by Donnan and his wife to transfer assets to their children.

Donnan is accused of having recruited other college football coaches to buy in, including Virginia Tech Hokies coach Frank Beamer and Texas Tech Red Raiders coach Tommy Tuberville -- both of whom defended Donnan in the report, saying he didn't realize exactly what he was pitching. Barry Switzer and Dennis Franchione are also mentioned as having invested.

Donnan coached UGA from 1996 through 2000, compiling a 40-19 career record and 1997 SEC Coach of the Year honors, having made his name as Switzer's offensive coordinator at Oklahoma and the coach responsible for Marshall's early-1990s I-AA dominance. Vince Dooley had hoped to keep him on at UGA, leading to some speculation that Donnan could be considered for the upcoming Kennesaw State Owls job. That's not looking so good now, even though it sounds like he didn't willingly lead anybody astray.

He maintains a residence in Athens, and in recent years has been active on Atlanta sports radio.

For more Georgia spots, visit Dawg Sports. For more college football news, head to SB Nation NCAA Football.

Trending Discussions

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

Join SB Nation Atlanta

You must be a member of SB Nation Atlanta to participate.

We have our own Community Guidelines at SB Nation Atlanta. You should read them.

Join SB Nation Atlanta

You must be a member of SB Nation Atlanta to participate.

We have our own Community Guidelines at SB Nation Atlanta. You should read them.

Spinner

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.