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.
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 the Nets and Milwaukee Bucks, averaging 4.2 points per game in his career.
Ponzi scheme. On January 21, 2016, in New Jersey federal court, George was sentenced to nine years in prison for his involvement in the aforementioned ponzi scheme. Upon his release he is ordered to pay $2.5 million in restitution. He will also be on three years of supervised release after serving his sentence.
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 In the year after Madoff was arrested, more than 150 ponzi schemes collapsed, totaling over $16.5 billion across all 50 states – nearly three and a half times that of 2008. See Busted Ponzi Schemes Quadrupled in 2009, CBS Money Watch (Dec. 28, 2009).
TRENTON, N.J. (AP) – 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.
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.
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Former NBA player and University of Connecticut star Tate George was sentenced Thursday to nine years in prison for running a real estate Ponzi scheme.
Ex-NBA player Tate George gets 9 years for Ponzi scheme Basketball January 22, 2016, by Mark leslie barbaro/ap tate george, the former NBA player, was sentenced Thursday to nine years in prison . george groves reckons david Haye is two fights away from making a.
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