William Allen, a former cornerback for the New York Giants and Miami Dolphins National Football League football teams, and others were charged by the Securities and Exchange Commission with operating a Ponzi scheme that raised over US $31 million from investors. The SEC’s lawsuit, filed in a US federal court in Massachusetts, claimed that from July 2012 through February 2014 potential investors were promised profits from loans to specific professional athletes. However, not all money raised from investors for specific athletes was loaned to such persons, and in some cases investors were provided incorrect or misleading information about loans they funded, charged the Commission. A substantial portion of the money raised was used for personal purposes by two of the defendants, including Mr. Allen, claimed the SEC. The SEC seeks a court order to stop the alleged wrongful conduct by the defendants, disgorgement and penalties.