An Orange County man who admitted running a multi-faceted fraud scheme that bilked hundreds of victims out of approximately $55 million was sentenced today to 27 years in federal prison.

Colin Nathanson, 62, who lived in Coto De Caza until his arrest in 2005, was sentenced to 324 months in prison by United States District Judge Cormac J. Carney. Prior to his arrest, Nathanson was the president and chief executive officer of Giant Golf Company and Play Big Enterprises, Inc., both of which sold golf clubs and golf accessories out of Irvine and Rancho Santa Margarita.

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A former player with the Tennessee Titans pleaded guilty this afternoon to federal fraud charges related to a $5 million Ponzi scheme in which he collected funds with promises of high rates of returns on investments in loan programs, including multimillion dollar condominium projects in Mexico.

Reed Kyle Diehl, 30, of Coto de Caza, pleaded guilty this afternoon in United States District Court to three counts of wire fraud and one count of money laundering.
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