Former NBA Player and CEO of the George Group Sentenced to Nine Years in Prison for Role in a $2 Million Ponzi Scheme

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Former NBA Player And CEO Of The George Group Sentenced To Nine Years In Prison For Role In A $2 Million Ponzi Scheme. TRENTON, N.J. – C. Tate George, former NBA basketball player and the CEO of purported real estate development firm The George Group, was sentenced today to 108 months in prison for his role in orchestrating a $2 million investment.

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Former NBA Player and CEO of the George Group Sentenced to Nine Years in Prison for Role in a $2 Million Ponzi Scheme January 21, 2016 Press Federal and International NEW JERSEY-(ENEWSPF.

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TRENTON, N.J. — Former NBA player and University of Connecticut star Tate George was sentenced in a New Jersey federal court Thursday to nine years in prison for running a real estate Ponzi scheme. A federal judge in Trenton also ordered George to pay $2.5 million in restitution and serve three years of supervised release.

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.

UConn basketball icon Tate George was sentenced to the maximum nine years in prison Thursday after being convicted of operating a real estate Ponzi scheme in which investors lost .55 million.

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Tate George. Tate Claude George (born May 29, 1968) is an American former professional basketball player who was selected by the New Jersey Nets with the 22nd overall pick in the 1990 NBA Draft from the University of Connecticut. A 6’5" (1.96 m) and 190 lb (86 kg) guard, he played a total of four years in the NBA for.