Former NFL cornerback Will Allen reportedly has been indicted on 23 felony charges following his arrest last month on suspicion of selling fraudulent loans to professional athletes.
Allen, 36, was charged last week with 12 counts of wire fraud, six counts of aggravated identity theft, four counts of illegal monetary transactions and one count of conspiracy to commit wire fraud, according to the Palm Beach Post. He faces up to 20 years in prison on each of the wire fraud counts alone.
The indictments were handed down by the U.S. Attorney's Office in Massachusetts, and they are not related to a separate federal investigation into Allen's alleged involvement in a Ponzi scheme. In April, the Securities and Exchange Commission accused Allen and a business partner of funneling money from investors to themselves.
The new charges claim that Allen sold three fraudulent loans to football players and two to baseball players, the Post reported. Prosecutors say Allen raised $4.1 million for the loans via investors before spending the money on personal expenses.