Cannon went to dental school during the offseason, and after retiring became an orthodontist and also dabbled in real estate, The Advocate reported.
But in July 1983, he was identified as the main figure in a $6 million counterfeiting scheme after FBI agents found phony money in ice coolers buried on one of Cannon’s properties, the newspaper reported. Cannon was sentenced to five years in prison and fined $10,000, the Advocate reported. He served nearly three years in federal prison.
Cannon was elected to the College Football Hall of Fame in 1983. His honors were rescinded after his conviction, but he was reinstated into the Canton, Ohio, shrine in 2008, ESPN reported.
"Billy Cannon was LSU football through and through," Tigers coach Ed Orgeron tweeted Sunday. "He will be missed and never forgotten."