Former NFL player Will D. Allen and a former banker were sentenced to six years in prison Wednesday for running a Ponzi scheme that targeted investors with bogus or oversubscribed loans to professional athletes.

Allen whose NFL career spanned playing for Miami Dolphins and New England Patriots will also have three years of supervised release. He was as ordered to pay $16.8 million in restitution by a federal judge on Wednesday for his role in the multi-million dollar scam.
Co-defendant Susan Daub received the same sanctions when U.S. District Court Judge William G. Young announced the sentence in Boston. Allen, 38, and Daub, 56, pled guilty in November, 2016 to two counts of wire fraud, one count of conspiracy and one count of money laundering as part of a $35 million fraudulent loan scheme targeted at professional athletes.
The duo admitted using the proceeds for personal expenses and other business ventures. According to the SEC complaint, Allen and Daub spent the money they made from the scheme on personal expenses. The SEC recorded credit card charges totaling $1.4 million were made at “casinos, pawn shops, jewelers, grocery stores, cigar shops and clothing retailers.”
The SEC report detailed additional purchases made at “storage facilities, airlines, hotels, restaurants, night clubs and limousine companies” that were not included in the $1.4 million.

Allen’s partner Susan Daub: The SEC said the two ran up $1.4 million in credit card charges at “casinos, pawn shops, jewelers, grocery stores, cigar shops and clothing retailers.”

According to USAToday. The former cornerback was hoping to catch  a break from the judge and his attorneys were seeking a 30 month sentence for pleading guilty to four of the 23 counts against him.
Allen, 38, and Daub, 56, pled guilty in November, 2016 to two counts of wire fraud, one count of conspiracy and one count of money laundering as part of a $35 million fraudulent loan scheme targeted at professional athletes,in November 2016.
The duo admitted using the proceeds for personal expenses and other business ventures.He pleaded guilty to wire fraud and other charges

Instead he was told by the judge he was “in denial.”
The Sporting News reported that Allen and his business partner Susan Daub were obtaining loans from investors saying they’d use them for athletes. Instead, the duo ended up only paying out $22 million of the $35 million they collected.
After sentencing, Special Agent in Charge of IRS Criminal Investigation Joel P. Garland announced “The sentences imposed by the court today send a strong message – those who defraud investors to unjustly enrich themselves will pay a hefty price,” Garland said in a statement.
“As a former professional football player, Mr. Allen’s conduct is especially egregious.  He used his status as an NFL athlete to legitimize his dealings with investors.  We are proud to bring our financial expertise to joint investigations of this magnitude, and help prevent future victims of such schemes.”
“The defendants’ elaborate Ponzi scheme robbed many of the investors of a stable financial future,” Acting United States Attorney William D. Weinreb said in a statement.  “The significant sentences the court imposed today should remind investment professionals to handle their clients’ money with the transparency and integrity that the law requires.”
Allen, who played football at Syracuse, was selected by the Giants with the 22nd pick of the 2001 NFL draft. He played five seasons with the Giants before continuing his career with the Dolphins for another five seasons and spent his final season on injured reserve with New England Patriots in 2012.