Tate George Rumors

More than two years after his conviction in a $2 million Ponzi scheme that targeted professional athletes, former New Jersey Nets player Tate George was sentenced Thursday to a prison term nearly twice as long as his professional basketball career. The 6-foot-5 former point guard, who played professionally from 1990 to 1995, was sentenced to nine years in prison by U.S. District Judge Mary L. Cooper. George also will have make $2.55 million in restitution, according to the office of U.S. Attorney Paul J. Fishman. George was charged in a financial scam involving a bogus plan to purchase and develop real estate projects in Florida, Illinois, Connecticut and New Jersey.
The case apparently grew out of a 2008 lawsuit involving Brevin Knight, a former NBA player for the Cleveland Cavaliers, who sued George and the George Group over thousands of dollars in loans for a development project that were never repaid. George has been in jail since his conviction on four wire fraud counts in 2013. He represented himself while awaiting sentencing, attempting to toss out the verdict, after dismissing a series of attorneys.
Another day passed Tuesday without a sentence in the fraud case of a former NBA player convicted of running a real estate Ponzi scheme. Former University of Connecticut and New Jersey Nets guard Tate George appeared in federal court in Trenton on Tuesday for the continuation of a hearing that spanned two days earlier this month. The parties are scheduled to return to court Wednesday morning. George has been jailed since his 2013 conviction on four counts of wire fraud. Each count carries a maximum 20-year sentence, but George is expected to face considerably less time.