Feds file complaint against man accused of cheating 2 Tech coach - KCBD NewsChannel 11 Lubbock

Feds file complaint against man accused of cheating 2 Tech coaches

Jim Donnan Jim Donnan

The Securities and Exchange Commission accuses University of Georgia football coach Jim Donnan of cheating other coaches and former players out of millions of dollars.  The complaint filed in Atlanta on Thursday is a civil charge, not criminal. 

The SEC complaint does not list victims but a related bankruptcy case filed several months ago indicates that Donnan owes Texas Tech football coach Tommy Tuberville $800,000 and Texas Tech basketball coach Billie Gillespie about $2,000,000. 

The complaint also names Donnan's adult children and his business associate Gregory Crabtree. 

"Donnan and Crabtree raised a total of approximately $80 million from ninety-seven investors," the complaint says.  It also says Donnan was highly manipulative.  In one circumstance it quotes Donnan as telling one of his former players, "Your Daddy is going to take care of you. … If you weren't my son, I wouldn't be doing this for you." The complaint says that player later invested $800,000.

The SEC wants a court order "requiring the disgorgement … of all ill-gotten gains or unjust enrichment."

Copyright 2012 KCBD. All rights reserved.

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