ATHENS, Ga. – A jury could begin deliberations as soon as Wednesday for the trial of Jim Donnan, the former Marshall and Georgia football coach accused of running an investment scam through his now defunct business, GLC Limited.

Donnan, 69, is charged with conspiracy, money laundering, wire fraud, mail fraud and security fraud for an alleged scheme that cost investors an estimated $23 million.

Many of his investors—including fellow coaches and former players—have testified that they trusted Donnan and put money into his closeout merchandise business amid promises that they wouldn’t lose money and stood to see huge returns.

Donnan’s attorneys claimed the coach was himself a victim of fraud. They said he believed he was promoting a legitimate business and was not trying to defraud investors. Reports Tuesday indicated Donnan would not testify during his trial.

The trial started last week and, among those testifying, was Donnan’s former business partner, Gregory Crabtree, who has pleaded guilty to conspiracy and will be sentenced later this year.

GLC Limited was located in both Huntington and Proctorville, Ohio.

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Comments

  • Ron - from Morgantown

    Closeout merchandise business ? Are you kidding me ? This proves my point - Coaches can coach , but are absolutely stupid about finance , business , politics , real estate , world affairs , law , science , ect ect . Please- coaches should coach and remain quiet about everything else . How can you possible invest in something called , "Close out merchandise " ?

    • pc

      Ever hear of a company called Big Lots, Ron? Their whole inventory is close out merchandise which they purchase and then re-sell in their stores.

      • William

        Plus Gabes, TJ Maxx, Marshalls, Close out factory wearhouse stores are everywhere!