Post-coaching Career
After coaching, Donnan worked as a college football analyst for ESPN.
In June 2011, Donnan and his wife, Mary filed for Chapter 11 bankruptcy in the middle district of Georgia. The financial disclosures indicate the Donnans owed $8.25 million to GLC Limited, the same company that also filed for bankruptcy in the spring.
In July 2011, Donnan was accused in court documents of making millions of dollars from a Ponzi scheme involving GLC Limited.The federal documents filed in bankruptcy court in Ohio contend that Jim Donnan and his wife, Mary, attracted investments for GLC Limited. The documents claimed the Donnans made commissions for new investments. It claimed Donnan invested more than $5.4 million in the company and that his family ultimately made more than $14.5 million.
On August 16, 2012, Donnan was charged by the Securities and Exchange Commission (SEC) for orchestrating an $80 million Ponzi scheme.
Read more about this topic: Jim Donnan
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