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

PHILADELPHIA, P.A. – C. Tate George, former NBA basketball player and the CEO of purported real estate development firm The George Group, today lost his appeal of the nine-year prison sentence he received for his role in orchestrating a $2 million real estate investment ponzi scheme, Acting U.S. Attorney William E. Fitzpatrick announced.

Former NBA Player and CEO of a purported real estate development firm C. Tate George (Photo: The Star Ledger) A federal judge sentenced former NBA Player and CEO of a purported real estate development firm, C. Tate George, to nine years in prison for orchestrating a $2 million investment fraud scheme, according to officials.

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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 "running a real estate Ponzi scheme," and the judge also "ordered George to pay $2.5 million in restitution and serve three years of supervised release.".

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Ex-NBA player Tate George has been sentenced to nine years in prison and ordered to pay $2.5 million in restitution for operating ] a real estate Ponzi scheme that cheated other current and former NBA players. George is a former UConn basketball standout and played in the NBA for the New Jersey Nets and Milwaukee Bucks.

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