former nfl cornerback will allen and his business partner susan daub are facing civil fraud charges from federal regulators .
they allegedly reaped over $ 31 million in a ponzi scheme that promised high returns to investors from funding loans to cash-strapped pro athletes .
allen , 36 , was a cornerback in the nfl from 2001 to 2012 , playing for the new york giants and the miami dolphins .
the sec said allen and daub paid about $ 20 million to investors but received only around $ 13 million in loan repayments from athletes .
to make up the gap they paid investors with other investors ' money rather than actual profits on the investments , the agency said .