Lawyers for former University of Georgia star Kendrell Bell said former UGA football coach Jim Donnan duped him into investing $2 million in a Ponzi scheme.
Bell played for Donnan at UGA, then later played for the Pittsburgh Steelers and Kansas City Chiefs before injuries ended his career in 2007.
"James Donnan guaranteed (Bell) that his investment was safe and that James Donnan would protect him," according to legal documents filed by Bell's lawyers and obtained by the Athens Banner-Herald. "James Donnan was a father-figure to (Bell), and (Bell) trusted him implicitly."
Donnan was a key figure in fund-raising for the company, GLC Limited, which filed for bankruptcy last year.
“James Donnan, as one of the two architects of the Ponzi scheme, was the prime salesman and largest beneficiary of the scheme,” Bell’s attorneys said. “In short, James Donnan duped (Bell) into investing $2 million, and then diverted his money from GLC to (Jim and his wife Mary Donnan) or other investors,” according to the Banner-Herald's report.
Donnan's lawyers say he acted in good faith, and believed GLC was a good investment opportunity.
About the Author
