A complaint was unsealed Monday night, according to the Wall Street Journal, and Allen along with his business partner, 54-year-old Susan Daub, managed multiple companies they founded under the umbrella of "Capital Financial." The pair gave questionable loans to athletes after raising money from investors, telling them they could receive up to 18 percent interest in returns. Then, Allen and Daub used money for personal expenses that included night clubs and pawn shops.
Allen and Daub reportedly ripped off over 40 investors for approximately $31 million. For example, Allen ripped off investors after giving an NHL player a $3.4 million loan but telling investors they were giving a $5.56 million loan, using the extra cash for personal use, according to the WSJ.
These aren't Bernie Madoff numbers by an means, but you can expect that Allen will be in some serious trouble after making these shady deals. Allen can definitely expect prison time for stealing millions of dollars from investors that were easily persuaded with the positive returns on large investments.
Will Allen became an NFL cornerback when he was drafted 22nd overall in the 2001 NFL Draft out of Syracuse. Allen played five years with the Giants, six with the Dolphins and played his final NFL season in 2012 with the Patriots before retiring.
The 36-year-old had an NFL career comprised of 525 tackles, 15 interceptions and five sacks. Now, he's likely spend some time behind bars for his serious offenses.
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Former NFL cornerback Will Allen charged in ponzi scheme
INDIANAPOLIS, IN - APRIL 04: The Wisconsin Badgers celebrate after defeating the Kentucky Wildcats as Willie Cauley-Stein #15 looks on during the NCAA Men's Final Four Semifinal at Lucas Oil Stadium on April 4, 2015 in Indianapolis, Indiana. Wisconsin defeated Kentucky 71-64. (Photo by Andy Lyons/Getty Images)
ATLANTA, GA - MARCH 30: Jeff Teague #0 of the Atlanta Hawks drives under Michael Carter-Williams #5 of the Milwaukee Bucks at Philips Arena on March 30, 2015 in Atlanta, Georgia. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Kevin C. Cox/Getty Images)
UNIONDALE, NY - MARCH 29: Tyler Kennedy #26 of the New York Islanders skates in warm-ups prior to the game against the Detroit Red Wings at the Nassau Veterans Memorial Coliseum on March 29, 2015 in Uniondale, New York. The Islanders defeated the Red Wings 5-4. (Photo by Bruce Bennett/Getty Images)
Los Angeles Lakers' Wesley Johnson, left, and Philadelphia 76ers' Thomas Robinson struggle for position on a rebound during the second half of an NBA basketball game, Monday, March 30, 2015, in Philadelphia. Los Angeles won 113-111 in overtime. (AP Photo/Matt Slocum)
Miami's Omar Sherman (22) swats the ball away from Temple's Jesse Morgan (3) during the second half of a semifinal at the NIT college basketball tournament Tuesday, March 31, 2015, in New York. Miami won 60-57. (AP Photo/Frank Franklin II)
CHICAGO, IL - APRIL 05: Jason Heyward #22 of the St. Louis Cardinals scores a run in the first inning against the Chicago Cubs during the Opening Night game at Wrigley Field on April 5, 2015 in Chicago, Illinois. (Photo by Jonathan Daniel/Getty Images)
PHILADELPHIA, PA - APRIL 05: Ian Cole #28 of the Pittsburgh Penguins checks Pierre-Edouard Bellemare #78 of the Philadelphia Flyers in the second period on April 5, 2015 at the Wells Fargo Center in Philadelphia, Pennsylvania. (Photo by Elsa/Getty Images)
Los Angeles Lakers guard Jordan Clarkson, left, fouls Los Angeles Clippers guard Austin Rivers during the second half of an NBA basketball game, Sunday, April 5, 2015, in Los Angeles. The Clippers won 106-78. (AP Photo/Mark J. Terrill)
Texas Rangers Nick Williams (50) slides in at home as plate umpire Anthony Johnson prepares to signal safe as New York Mets' Anthony Recker (20) holds the ball in his glove in the fourth inning of an exhibition baseball game Saturday April 4, 2015, in Arlington, Texas. (AP Photo/Tony Gutierrez)
Napoli's Britos performs an overhead kick as Roma's Juan Iturbe challenges him, during a Serie A soccer match at Rome's Olympic stadium, Saturday, April 4, 2015. (AP Photo/Alessandra Tarantino)
NEWARK, NJ - APRIL 03: Dustin Tokarski #35 of the Montreal Canadiens lies on the ice following a shootout goal by Patrik Elias #26 of the New Jersey Devils at the Prudential Center on April 3, 2015 in Newark, New Jersey. The Devils defeated the Canadiens 3-2 in the shootout. (Photo by Bruce Bennett/Getty Images)
LONDON, ENGLAND - APRIL 01: Tom Daley of Great Britain in action during a training session at the London Aquatics Centre on April 1, 2015 in London, England. (Photo by Clive Rose/Getty Images)
AT SEA - APRIL 4: In this handout image provided by the Volvo Ocean Race, Leg 5 to Itajai onboard Team SCA. Day 17. Birds and showers. Nature. The Volvo Ocean Race 2014-15 is the 12th running of this ocean marathon. Starting from Alicante in Spain on October 04, 2014, the route, spanning some 39,379 nautical miles, visits 11 ports in eleven countries (Spain, South Africa, United Arab Emirates, China, New Zealand, Brazil, United States, Portugal, France, The Netherlands and Sweden) over nine months. The Volvo Ocean Race is the world's premier ocean yacht race for professional racing crews. (Photo by Anna-Lena Elled/Team SCA/Volvo Ocean Race via Getty Images)April 04, 2015. Leg 5 to Itajai onboard Team SCA. Day 17. Birds and showers. Nature.
Carolina Hurricanes' John-Michael Liles (26) pushes Philadelphia Flyers' Nick Cousins (52) to the ice during the third period of an NHL hockey game in Raleigh, N.C., Saturday, April 4, 2015. Carolina won 3-2 in a shootout. (AP Photo/Gerry Broome)
SYDNEY, AUSTRALIA - APRIL 03: Joel Reddy of the Rabbitohs is tackled by is tackled by the Bulldogs defence during the round five NRL match between the Canterbury Bulldogs and the South Sydney Rabbitohs at ANZ Stadium on April 3, 2015 in Sydney, Australia. (Photo by Brendon Thorne/Getty Images)
DALLAS, TX - APRIL 03: Antoine Roussel #21 of the Dallas Stars jumps over Alex Pietrangelo #27 of the St. Louis Blues in the first period at American Airlines Center on April 3, 2015 in Dallas, Texas. (Photo by Ronald Martinez/Getty Images)
TAMPA, FL - APRIL 05: Tiffany Mitchell #25 of the South Carolina Gamecocks makes contact with Jewell Loyd #32 of the Notre Dame Fighting Irish as she defends in the second half during the NCAA Women's Final Four Semifinal at Amalie Arena on April 5, 2015 in Tampa, Florida. (Photo by Mike Carlson/Getty Images)