Former NBA Player’s Nine-Year Prison Sentence Affirmed for Role in a $2 Million Ponzi Scheme

Former NBA star sentenced in Ponzi scheme: Tate George, once a first-round NBA draft pick, will go to federal prison for nine years thanks to his role in a $2.55 million Ponzi scheme.

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The San Francisco Chronicle is reporting that Tate George, a former New Jersey Nets guard and the CEO of purported real estate development firm The George Group, was indicted today on charges of running a $2 million Ponzi scheme that targeted ex-professional athletes.

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Former NBA player C. Tate George was sentenced Thursday to nine years in prison for bilking investors, including fellow players, out of $2 million in purported real estate investments that went.

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On Monday, it was announced that a former professional basketball player had been sentenced to prison on charges related to an extensive charity fraud scheme. 66-year-old Kermit Alan Washington of Las Vegas, Nevada was sentenced to six years in federal prison without parole. The defendant has also been ordered to pay $967,158 in restitution.

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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.

Former NBA player may get 9 years in prison, sentencing postponed June 19, 2014 19:52 Views: 117 Fraud sentencing for former NBA player Tate George has been postponed until August 19-20, while he was scheduled to be sentenced in federal court in Trenton, NJ.

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Former NBA Player’s Nine-Year Prison Sentence Affirmed for Role in a $2 Million Ponzi Scheme 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.