Friend says he trusted Georgia coach in investment
MAY 07, 2014 4:50p ET
ATHENS, Ga. (AP) A friend of Jim Donnan has testified that the former University of Georgia coach told him about an investment opportunity with high returns but didn't pressure him into investing.
But Nelson E. Bowers III testified Wednesday that the fact that Donnan told him about the investment carried great weight because he trusted the coach.
Donnan is on trial on charges including conspiracy, mail fraud and wire fraud.
A federal indictment against Donnan and Gregory L. Crabtree, of Proctorville, Ohio, says the pair ran a fraudulent investment scheme through GLC Limited Inc., a West Virginia-based company dealing in closeout merchandise.
According to bank records submitted in court, Bowers lost more than $1 million when GLC crumbled in 2010.
Prosecutors say Donnan used his relationships to lure investors into a fraudulent scheme.