Atlanta Bankruptcy Law Blog

Former Georgia coach reaches bankruptcy deal

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, June 27, 2012.

The former football coach for the University of Georgia has reportedly agreed to a bankruptcy settlement with a retail liquidation company and several of its former investors who are accusing the coach of illegally profiting off of a Ponzi scheme. Under the agreement, Jim Donnan will pay nearly $30 million to both the company and its investors.

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Tags: Georgia, Ponzi scheme, bankruptcy

Donnan facing new bankruptcy claims from SEC

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Saturday, March 31, 2012.

There have been new developments in the bankruptcy case of former University of Georgia football coach Jim Donnan. Court documents filed earlier this month indicate that the Securities and Exchange Commission has asked a bankruptcy judge to reject Donnan's plan to repay some of his creditors and also intends to file a claim against him for as much as $13 million, for alleged violations of federal securities laws involving a Ponzi scheme.

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Tags: Ponzi scheme, assets, bankruptcy, creditors

Bankruptcy judge rules in favor of Georgia coach

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, February 27, 2012.

A federal bankruptcy judge has reportedly rejected a fraud claim made by a former University of Georgia football player against former UGA coach Jim Donnan. In the ruling, the judge stated that there was no evidence that Donnan engaged in deceptive conduct and, as such, that the player was not eligible to have access to Donnan's assets before other investors.

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Tags: Georgia, Ponzi scheme, bankruptcy, bankruptcy fraud

Former UGA coach files bankruptcy after investors demand millions

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, July 6, 2011.

After becoming involved in an allegedly fraudulent investment scheme, former University of Georgia football coach Jim Donnan and his wife, Mary, have filed for personal bankruptcy in a federal court in Georgia. Although the Donnans are not accused of wrongdoing in connection with the alleged Ponzi scheme, they have been asked to repay more than $8 million to other investors in the scheme. Their inability to pay back such a large amount sparked their bankruptcy filing, although they reportedly also owe several hundred thousand in other debts.

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Tags: Georgia, Ponzi scheme, bankruptcy, debt, investment