Donnan goes from Hall of Fame to ‘real SEC’ Hall of Shame
It turns out life was a lot simpler when Jim Donnan was just a football coach. (Getty Images)
As Georgia football coaches go, Jim Donnan is the only one who collapsed under the weight of the SEC.
Not that SEC — the real one.
The Securities and Exchange Commission has charged Donnan with conducting an $80 million Ponzi scheme with an Ohio partner through a West Virginia company, GLC Limited.
This is even worse than losing to Kentucky in your first season.
Donnan mostly made his mark as a football coach at Marshall, where he won Division 1-AA championships. At Georgia, he was a step up from Ray Goff but not nearly as good as his replacement, Mark Richt. He had an impressive enough career to be inducted into the College Football Hall of Fame in 2009. What happened after that, I don’t know.
Once a coach or an athlete has achieved a certain level in sports and made a fair amount of money, it should not be that difficult to capitalize on your name — legally.
Donnan never coached again after getting fired following the 2000 season. He went into broadcasting. He got a job at ESPN. He did local sportstalk radio. Everything seemed fine. But often that competitive edge, the need for a thrill, that drives coaches and athletes doesn’t leave them post-career. That can become their undoing. It’s the simplest explanation I can think of for what Donnan has been accused of.
If the allegations are true, Donnan did the worst possible thing: He used his name to commit fraud against those who considered him a friend. He duped coaches and former players.
Among the SEC’s claims: “Donnan recruited the majority of investors by approaching contacts he made as a sports commentator and as a coach. For instance, he capitalized on his influence over one former player by telling him, ‘Your Daddy is going to take care of you. … If you weren’t my son, I wouldn’t be doing this for you.’ The player later invested $800,000.”
Imagine if Donnan didn’t consider him a son.
This story first broke last year. GLC Limited filed for bankruptcy in March of 2011. Donnan filed for bankruptcy a few months later. Financial disclosures indicated he owed $8.25 million to GLC Limited, according to a story in the Journal-Constitution. The court filing included 65 pages of creditors from several states.
In July of 2011, our Tim Tucker quoted Donnan’s attorney, Edward Tolley, as saying: “If this was a phony scheme, a lot of people were fooled, including, I submit to you, Jim Donnan.”
That defense apparently did not sway the SEC.
According to a news release on the charges, Donnan and his partner, Gregory Crabtree, ran a wholesale liquidation business that earned “substantial profits by buying leftover merchandise from major retailers and reselling those discontinued, damaged, or returned products to discount retailers. They promised investors exorbitant rates of return ranging from 50 to 380 percent. However, only about $12 million of the $80 million raised from nearly 100 investors was actually used to purchase leftover merchandise, and the remaining funds were used to pay fake returns to earlier investors or stolen for other uses.”
So much for the simple and stress-free life of a football coach. Maybe Donnan should’ve just followed Goff into the chicken business.
By Jeff Schultz
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209 comments Add your comment
jim, meet your cell mate, quincy.
August 16th, 2012
12:49 pm
i liked JD until he put all his eggs in quincy carter’s nose.
now I say, lock him up and throw away the key.
maybe CMR can pay him a visit in the pen and learn how to recruit…..because without JD’s players…CMR’s first four years would have been more like the last four.
Dawglasville
August 16th, 2012
12:49 pm
Tide Rising
August 16th, 2012
12:41 pm
“Just more proof that THuga is nothing but a rotten, cheatin’ program. Thugs and crooks. All of ‘em!!”
Its a rarity when a Tide fan and an Auburn fan agree on anything. But we certainly agree on this.
I’m not shocked that an Alabama fan and an Auburn fan can agree on a racist statement. If you Bama and Auburn guys don’t like me calling out these two, maybe you should police your own.
DawgNole
August 16th, 2012
12:50 pm
Tide Rising
August 16th, 2012
12:39 pm
Damon Evans was embarrassing enough for Dawg fans. And now a former coach ripped off folks to the tune of 80 million? I remember dawg fans laughing about the Mike Price fiasco. What goes around comes around dawg fans. Aint laughing now are ya?
_____________________
Don’t forget about the Dubose fiasco.
And no, I’m not laughing. Just relieved the alleged criminal activity didn’t occur during his time at UGA. And feeling empathy for any innocent victims.
Ted M
August 16th, 2012
12:52 pm
Yep, when Saban was being hired by the AL administration they asked questions like: Are you a thief? Do you steal from your friends? Do you intend to run a ponzi scheme after retirement?
Yep those are the questions asked of Saban.
Coach Ralph Fontaine
August 16th, 2012
12:54 pm
Tide you do realize that Donnan did not committ these alleged crimes while coaching at UGA? Are you aware of that? I know you Bama boys need a little more time to catch up. So to get you up to speed, the current Coach is Mark Richt, pronounces Rikt not liked its spelled. Donnan was let go many years ago. That means he was “fired”. These crimes were committed, and this is important, AFTER he was associated with UGA. I will let this sink in and give you a little more information later because i know you will need a nap if you are able to understand this simple concept. nighty night!
Well
August 16th, 2012
12:56 pm
“I’m not shocked that an Alabama fan and an Auburn fan can agree on a racist statement. ”
Project much?
Well
August 16th, 2012
12:57 pm
Didn’t a certain Bama coach get fired for prostitution?
gt4ever
August 16th, 2012
12:58 pm
It looks as if everyone has already judged Coach Donnan…. I for one would put Donnan’s football record against Richt’s…. I think Donnan was fired at UGA for losing to GT to many times… His overall percentage was very good… As good as Richt’s, and hey the only SEC championship that Richt has won was with Coach Donnan’s recruits….
tiny
August 16th, 2012
1:01 pm
I liked Donnan okay as a coach, but I swear – every picture I see of him he’s wearing a ball cap that his melon-sized head makes look like a youth, extra-small. Get that guy an adult-sized hat, please.
done
August 16th, 2012
1:01 pm
He also put that ugly black stripe down the middle of the helmet. He should get 3-5 years just for that.
Red Stick
August 16th, 2012
1:04 pm
He’s innocent until proven otherwise. Nevertheless another embarrassing moment for UGA.
Jeff, I’m surprised you haven’t chimed in on the student newspaper fiasco in Athens.
Geaux Tigers
Go SEC (the conference that is)
DawgNole
August 16th, 2012
1:04 pm
gt4ever
August 16th, 2012
12:58 pm
It looks as if everyone has already judged Coach Donnan…. I for one would put Donnan’s football record against Richt’s…. I think Donnan was fired at UGA for losing to GT to many times… His overall percentage was very good… As good as Richt’s, and hey the only SEC championship that Richt has won was with Coach Donnan’s recruits….
____________________
“His overall percentage was very good . . . As good as Richt’s . . . .”
Actually, it was NOT as good as Richt’s at all. You might want to read the previous comments before making an uninformed one of your own. I’ll save you some time–go to 12:05 p.m.
Dawglasville
August 16th, 2012
1:04 pm
Well – You don’t know me.
“Thuga,” is racist. Bama, Auburn, Tenn, Tech, UF use it on UGA blogs every day. I’m stating facts. If you want to defend that, then I guess we all know where you stand.
graphite
August 16th, 2012
1:05 pm
That explains the Lake Oconee mansion.
graphite
August 16th, 2012
1:05 pm
That explains the Lake Oconee mansion.
graphite
August 16th, 2012
1:05 pm
That explains the Lake Oconee mansion.
Coach Ralph Fontaine
August 16th, 2012
1:06 pm
Tide is still thinking, i can hear the wheels turning
Paddy
August 16th, 2012
1:07 pm
JD is going to be a very old man when he gets out of federal prison.
Danny O
August 16th, 2012
1:07 pm
For clarity’s sake, Jim Donnan has not been indicted on criminal charges. Only the DOJ can do that, not the SEC. The SEC sued him for civil violations. Getting sued by the SEC means that you may have to pay fines and restitution, as well as possibly losing the privilege of dealing in securities. But no prison or criminal record.
If the violations are of a criminal nature then he could get indicted by the DOJ and face jail time.
Sam
August 16th, 2012
1:07 pm
He will soon be taking showers with Sandusky.
Bar of soap hall of fame
Sam
August 16th, 2012
1:07 pm
He will soon be taking showers with Sandusky.
Bar of soap hall of fame
yo mama
August 16th, 2012
1:09 pm
the downfall started early. right after he got into a heated radio interview with Loran Smith over players
not being fit enough in Donnan’s first game. anyone remember that outburst.
there is no way richt benefitted from donnan’s recruiting. heck in was three years later they finally won something. 2002 was not Donnan’s team.
GALSUTIGER
August 16th, 2012
1:10 pm
Man, the players AND coaches at UGA are criminals! Amazing and sad at the same time.
GTBob
August 16th, 2012
1:12 pm
Man, the players AND coaches at UGA are criminals! Amazing and sad at the same time.
Don’t forget the Athletic Director also. All that’s left is to catch the President of the University doing something stupid. It will happen eventually.
DawgNole
August 16th, 2012
1:12 pm
Coach Ralph Fontaine
August 16th, 2012
1:06 pm
Tide is still thinking, i can hear the wheels turning
________________
Based on his contributions to these blogs, I’m not so sure his wheels even turn any more–at least not without creaking. Perhaps that’s what you heard.
yo mama
August 16th, 2012
1:12 pm
GALSUTIGER, is a slut. cmon, you can;t sling that attitude, hell do you remember what happened to your QB last year, and now honey badger?
you have been smoking the stuff too long to know what you are talking about. GEAUX DAWGS!
JB
August 16th, 2012
1:13 pm
This won’t end good for Jim. Might of starting out legit and the money got so big and easy the “work” part of the plan never took off. Good intentions gone way bad. Jim is done I’m afraid. Son of Bernie part 2.
DawgNole
August 16th, 2012
1:14 pm
yo mama
August 16th, 2012
1:09 pm
the downfall started early. right after he got into a heated radio interview with Loran Smith over players
not being fit enough in Donnan’s first game. anyone remember that outburst.
there is no way richt benefitted from donnan’s recruiting. heck in was three years later they finally won something. 2002 was not Donnan’s team.
___________________
I remember the one when he invited a student caller to his radio show to meet him in his (Donnan’s) office to stack furniture–i.e., handle it face to face.
BobDawg
August 16th, 2012
1:15 pm
You can take the Man out of “West Va.” but you can’t take the “West Va” out of the man…..
Donnan
August 16th, 2012
1:16 pm
Living in Athens, I’ve met him several times. Always a little standoffish, almost shy. Never impolite, though.
The comments from Alphare about Donnan and Harrick were interesting. JD is involved in federal
charges. Harrick was only involved with the NCAA, much like, say, Paul Hewitt getting Yech involved in probation, or O’Dreary lying about his academic accomplishments to get head coaching jobs.
DawgNole
August 16th, 2012
1:19 pm
GTBob
August 16th, 2012
1:12 pm
Don’t forget the Athletic Director also. All that’s left is to catch the President of the University doing something stupid. It will happen eventually.
________________
Man, where ya been, GT Bob. It’s been dang near two hours. You slowin’ down in your old age?
Not so sure that catching Adams in something stupid would be a bad thing for UGA athletics.
Mr. Hankey
August 16th, 2012
1:19 pm
What a disgusting, pathetic punk. I’ve been a court reporter for 26 years and have worked close to a hundred trials involving criminal matters. There’s a good news/bad news scenario here. Crimes of fraud are the way to go if you want to stay out of prison. You can’t pay anybody back if you’re rotting in jail, right? They usually plea deal for 20 or so years of probation with a monthly pay off scale. However, hopefully the victims will want this fat slob housed up with the largest member of the Black Gorilla prison gang for the rest of his despicable life. It’s definitely true that they don’t bring criminal cases, especially high profile, without a pretty smokey smoking gun. Rot in hell, Jim Donnan. You sorry son of a bitch. F’ing thief.
Donnan
August 16th, 2012
1:19 pm
DawgNote…you’re wrong. 2002 was full of juniors and seniors who started in most spots. David Greene, Musa Smith, Stinchcomb, Breedlove, Bailey, and on and on. I mean come on, you think Richts freshmen and sophomores carried the ‘02 team. Keep thinking it, but you are wrong, incorrect, not right, inaccurate. Period.
Donnan
August 16th, 2012
1:24 pm
Al Phare
We know that. Why do you think JD was run off? Losing to the fleas isn’t natural.
It results in fired coaches.
Fair n Balanced
August 16th, 2012
1:24 pm
Tired. Ga football and all the spin off stories makes me tired.
DawgNole
August 16th, 2012
1:27 pm
Donnan
August 16th, 2012
1:19 pm
DawgNote…you’re wrong. 2002 was full of juniors and seniors who started in most spots. David Greene, Musa Smith, Stinchcomb, Breedlove, Bailey, and on and on. I mean come on, you think Richts freshmen and sophomores carried the ‘02 team. Keep thinking it, but you are wrong, incorrect, not right, inaccurate. Period.
____________________
And you’re ignorant. Period. I’m DawgNole (not DawgNote). More importantly, I didn’t make any of the claims you’re referring to. You must have intended to address someone else. Dumbazz.
Donnan
August 16th, 2012
1:29 pm
DawgNole,
I agree that Richt won’t win a title. Not because of his coaching….well, ok, maybe his clock management and misuse of timeouts. Mainly because of our predictable offense, no better now than
when he was calling plays. Last two minutes of each half, dynamic. First 28 mins of each half, predictable.
BUT, he won the SEC in 05 w/ a roster full of his own recruits, including the 5th year seniors.
SEC #1
August 16th, 2012
1:29 pm
Well, well, well. It’s a REFRESHING change to hear crickets chirping from THUGA. Who’s the most cheatin, dirtiest school NOW? LMAO. But we always knew you puppies were the REAL cheats. You were all simply in denial. Now the WHOLE country knows it to…HEADLINE NEWS tell all.
Coach Ralph Fontaine
August 16th, 2012
1:33 pm
I guess Tide had to go poison some more trees or he is really confused. 50/50 either way according to Vegas.
Dawglasville
August 16th, 2012
1:34 pm
Donnan – You may or may not know this but Alphare is a Carolina fan who is high and mighty because his team just beat UGA twice in a row and they won their 5th bowl game in school history.
GTBob – Nice to see you’ve come for your daily dose of attention. Glad we could oblige.
Donnan
August 16th, 2012
1:35 pm
On. better note,
Hey GTBob, have you noticed that the longer Paul Johnson is at GT, the better Chan Gailey looks?
This year, THE game should be really fun, b/c the Dawgs get a warm up the week before against Ga
Southern, the best option offense in the state! Facing the Yaller Jacket option will be cake after that!!!
Of course, I’d be remiss without closing with
HBTD!
Froggy The Gremlin
August 16th, 2012
1:36 pm
I think every blogger here knows where he stands…… except Dawglesville.
sheepdawg
August 16th, 2012
1:37 pm
typical sec story
DawgNole
August 16th, 2012
1:38 pm
Donnan
August 16th, 2012
1:29 pm
DawgNole,
I agree that Richt won’t win a title . . . .
____________________________
I think you’re having a problem with reading comprehension. Nowhere did I say that Richt won’t win a title, so you can’t “agree” with me on that one. Certainly I hope he does–being a Dawg fan–but I haven’t spoken to that issue at all in today’s posts.
At least you spelled my handle correctly this time.
Donnan
August 16th, 2012
1:40 pm
DawgNole,
My apologies. It was ‘yo mama’ who made the ridiculous claim, you were simply remarking on them.
On another note, thanks for the kind words. Didn’t have my glasses on, so the l looked like a t.
I’m sure your folks are proud they raised such an understanding fellow. D Bag
Donnan
August 16th, 2012
1:48 pm
DawgNole,
Yep. Guilty as charged. I’ve attributed others’ comments to you. Sorry about that.
As far as the ‘dumbazz’ comment? Well, I’ll forgive you for that. I had it coming, and your vocabulary,
as well as your character, are obviously challenged.
HBTD
Dawglasville
August 16th, 2012
1:48 pm
Froggy The Gremlin – Well accused me of being a racist. Am I up to speed now with the rest of the bloggers? You and Well make a great team.
Messed up
August 16th, 2012
1:51 pm
it takes two to know. I personally think Donnan as much as I didn’t like his attitude at Georgia He was okay with what he had to work with. I do think that he did have quincy either throw that game or someone was paid off when he threw those five interceptions against USC. With that said….do I think he defrauded his own players in a ponzi scheme. NO. Inexplicable NO!!! He is the result of an economy gone bad and bankrupt. You know what you can say that the owner of a Subway is running a ponzi scheme at prices that gouge customers and never really get their money’s worth. You can say Social Security is a ponzi scheme and that’s a fact. You can say the oil and gas industry is a ponzi scheme. I personally think all the schemes should be named FONZI with two thumbs up!!!!! Its a messed up system and something needs to replace it.
LakeDawg
August 16th, 2012
1:54 pm
Jim Donnan is in the College Football Hall of Fame?! How in the heck did that happen? His last team might have been the most talented in the history of UGA(20+ PLAYERS FROM THAT TEAM PLAYED AT LEAST 1 YEAR IN THE NFL). And yet, they finished 8-4.
C from Marietta
August 16th, 2012
1:56 pm
I have questions for all the jerks coming here and spewing vemon at UGA.
1) What does UGA have to be embrassed about?
2) There are crooks at ALL unversities. The guy didn’t even attend the college. He was just an employee. Do you really think everyone that has attended the college are bad people?
3) Are you lives really that rotten. That you have to come to another schools blog and talk crap? If so, you need to look in the mirror and take care of yourself.