The former University of Connecticut and NBA star Tate George was sentenced to nine years in prison. George was convicted for running a real estate Ponzi scheme and was asked to pay $2.5 million in restitution and will serve three years of supervised release.
According to ABC News, George was a former player at Milwaukee Bucks and the New Jersey Nets. At 6 foot 5, the Newark native was known for his buzzer-beater shot against Clemson in the NCAA finals in 1990. He got everything going for him, a full scholarship in UConn, NBA first-round draft pick, and the charisma to draw in fellow investors.
It was two years ago when Tate George as convicted for four accounts of wire fraud. NBA player, Charlie Villanueva, 'The Apprentice winner', Randal Pinkett and a former NBA player Brevin Knight are just some of the current victims of George says reports from Fox Sports.
Several days last December during the final day of the sentencing, George argued for more than an hour for consideration while maintaining his innocence. The accused didn't offer any apology to his victims but instead said that his intentions for the business are good, but the real estate projects just didn't fall into place. George also mentioned that his ventures were still on going, and the money is still available but beyond his grasp in jail.
The prosecutors said that George lied to the victims regarding his company's assets and projects. He then took their money and utilized it for either personal use or to pay off earlier investors.
Zach Intrater, assistant US Attorney asked US District, Judge Mary Cooper, to keep George in jail as long as possible to protect the society because he knows that convicted George will commit more crimes in the future. The prosecution also said that George crimes were a result of culture elevation and over the celebration of professional athletes.
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