Former NFL player and University of Georgia standout Kendrell Bell has accused former Georgia coach Jim Donnan of convincing him to invest $2 million dollars in what turned out to be a Ponzi scheme.
The story goes that Donnan convinced his former player to invest the money in GLC Limited which is a resale company that deals in used appliances and electronics. Donnan allegedly convinced many of his college peers to invest in the company that has since filed for bankruptcy protection.
Donnan has also filed for bankruptcy protection and Bell has filed a claim in bankruptcy court looking to recover his money.
The relationship between a college football player and his players "is very intimate and is built on trust," Bell said in a court filing. Even as GLC and Donnan and his wife filed for bankruptcy, Donnan repeatedly assured him, "Coach is going to take care of you," Bell said. Because Donnan told him not to speak to lawyers or reporters, Bell missed a deadline to keep Donnan's alleged debts to him from being wiped out by bankruptcy proceedings, according to the court filing.
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