Thursday, May 15, 2014
ATHENS, Ga. (AP) — Jurors have resumed deliberations in the trial of former University of Georgia football coach Jim Donnan, who's accused of running a fraudulent investment scheme.
Jurors began deliberating Wednesday after about five days of witness testimony. They resumed deliberations Thursday morning.
Prosecutors say the 69-year-old and another man ran the scheme from September 2007 to December 2010 through GLC Limited, a West Virginia-based company dealing in wholesale and closeout merchandise. Prosecutors say the pair promised high rates of return but paid investors with other investor money.
Prosecutors have said Donnan used his extensive personal and professional network to lure investors.
Donnan's lawyers have said he thought he found a really good investment opportunity and wanted to share the good fortune with friends.
If convicted, Donnan could face a lengthy prison sentence.