Former Giants defensive back Will Allen helped operate a Ponzi scheme that loaned money to professional athletes, according to a Securities and Exchange Commission complaint that was unsealed late Monday night.

The complaint says that Allen and business partner Susan Daub raised approximately $31.7 million from at least 40 investors, while only advancing about $18 million to athletes.

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The SEC complaint was first filed in a Boston federal court on April 1.

"Allen and [Susan] Daub represent that Capital Financial is in the business of making loans to professional athletes who need money while they wait to get paid under their sports contracts (i.e., during the off-season)," the complaint says. "Allen and Daub tell investors that they can participate in some or all of the funding for a specific loan to a specific athlete."

"In other words, Allen and Daub obtained approximately $13.7 million more from investors than they actually advanced to the athletes whose loans the investors are supposedly funding."

Allen played 10 seasons in the NFL, five with the Giants and five with the Dolphins. He started 71 of 72 games with the Giants from 2001-2005, recording eight interceptions, three fumble recoveries, one sack and 265 tackles. Allen also spent a year with the Patriots, though he didn't play in any games.