Former NBA Player and CEO of the George Group Convicted on All Counts in $2 Million Ponzi Scheme. The jury deliberated four hours before convicting George, 45, of Newark, of four counts of wire fraud after a three-week trial before U.S. District Judge Mary L. Cooper. George was immediately remanded into federal custody to await sentencing, which is scheduled for January 16, 2014.
Law360, New York (January 21, 2016, 9:12 PM EST) — Former NBA player C. Tate George was sentenced Thursday to nine years in prison for bilking investors, including fellow players, out of $2.
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Ex-NBA player Tate George has been sentenced to nine years in prison and ordered to pay $2.5 million in restitution for operating ] a real estate Ponzi scheme that cheated other current and former NBA players. George is a former uconn basketball standout and played in the NBA for the New Jersey Nets and Milwaukee Bucks.
Former NBA player Tate George has been sentenced to nine years in prison by a federal court judge in New Jersey. The Associated Press (via ESPN.com) reported Thursday that Tate was convicted for "running a real estate Ponzi scheme," and the judge also "ordered George to pay $2.5 million in restitution and serve three years of supervised release.".
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Former NBA Player’s Nine-Year Prison Sentence Affirmed for Role in a $2 Million Ponzi Scheme 3 Jack Molinas – Bribing Other Players. Due to his actions at Columbia, he was banned from the NBA after 32 games, and due to his actions in 1961, he was sentenced to 15 years in prison, which he only ended up serving five years of.