Follow CBSMIAMI.COM: Facebook | Twitter

MIAMI (CBSMiami) – Former Miami Dolphins cornerback Will Allen is facing quite a bit of jail time after being indicted on 23 federal felonies.

READ MORE: Florida Gov. Ron DeSantis Signs Unemployment, Vaping Bills

The 36-year-old Allen was arrested in June on criminal charges related to defrauding investors as part of a Ponzi scheme.

The indictment lists Allen on 12 counts of wire fraud, six counts of aggravated identity theft, four counts of illegal monetary transactions and one count of conspiracy to commit wire fraud.

READ MORE: Area Businesses Looking To Benefit From Fort Lauderdale Air Show

Allen offered high-interest, short-term loans to multiple professional athletes.  While the loans were funded by investors, Allen pocketed most of the profits.

If he is convicted, Allen will face up to 20 years on each count of wire fraud and shorter sentences for the remaining felonies.

MORE NEWS: Going To The Fort Lauderdale Air Show This Weekend? Here's What You Need To Know

Follow David on Twitter (@DavidDwork