of college football. >> in their second year under coach jim donnan. >> in the late 1990s, jim donnan one of the hottest football coaches in the southeastern conference. today it's a different s.e.c. that's interested in him. >> we have charged donnan and his business partner, mr. crabtree, with quarterbacking a ponzi scheme. >> reporter: on thursday, the u.s. securities and exchange commission charged donnan with allegations of fraud, shaming the name of a once popular head coach. >> jim donnan pulling out all the stops. who expected that to happen? >> reporter: donnan started coaching football in 1990 at marshall university. well liked and respected, he went on to become the university of georgia's head coach in 1996. but after five seasons and no titles, his coaching career ended, and he went on to become a tv sports commentator. in mid 2007, the s.e.c. alleges that donnan began putting all those power. connections to use in an elaborate ponzi scheme with another business partner. >> there was approximately 100 investors invested, approximately $80 million. there was a group of foo