Former NBA player to be sentenced for Ponzi scheme - Dallas News | myFOXdfw.com

Former NBA player to be sentenced for Ponzi scheme

Posted: Updated:
Tate George (AP photo) Tate George (AP photo)

TRENTON, N.J. (AP) - A former NBA player known for a buzzer-beating shot in the NCAA Tournament more than 20 years ago faces sentencing in New Jersey.

A federal jury convicted Tate George on four counts of wire fraud last fall. Each count carries a maximum 20-year prison sentence.

Prosecutors say George got investors - including other pro athletes - to put money into what they thought was a real estate investment opportunity.

The U.S. attorney's office says George didn't invest in real estate but ran a Ponzi scheme by using the money to pay back other investors and for personal expenses.

George made his famous shot for the University of Connecticut to beat Clemson in the 1990 NCAA Tournament. He later played for the NBA's New Jersey Nets and Milwaukee Bucks.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New Jersey NewsNew Jersey NewsMore>>

  • NJ store clerk accused of kissing customer

    NJ store clerk accused of kissing customer

    Wednesday, August 27 2014 8:41 AM EDT2014-08-27 12:41:29 GMT
    Police say a convenience store clerk in New Jersey hugged and kissed her against her will.
    Police say a convenience store clerk in New Jersey hugged and kissed her against her will.
  • NJ girl accidentally kills gun instructor

    NJ girl accidentally kills gun instructor

    Wednesday, August 27 2014 7:24 AM EDT2014-08-27 11:24:14 GMT
    A 9-year-old girl from New Jersey accidentally killed an Arizona shooting instructor as he was showing her how to use a fully automatic Uzi. Charles Vacca, 39, was standing next to the girl at the Last Stop outdoor shooting range when she pulled the trigger and the recoil sent the gun over her head, investigators said.
    A 9-year-old girl from New Jersey accidentally killed an Arizona shooting instructor as he was showing her how to use a fully automatic Uzi. Charles Vacca, 39, was standing next to the girl at the Last Stop outdoor shooting range when she pulled the trigger and the recoil sent the gun over her head, investigators said.
  • Potential buyer looks at Showboat Casino

    Potential buyer looks at Showboat Casino

    Tuesday, August 26 2014 3:05 PM EDT2014-08-26 19:05:43 GMT
    Caesars Entertainment is showing the soon-to-close Showboat Casino Hotel to "an interested party," but won't say who it is.Company spokesman Gary Thompson told The Associated Press that Caesars officials were showing the Showboat on Tuesday to a party that had expressed interest.
    Caesars Entertainment is showing the soon-to-close Showboat Casino Hotel to "an interested party," but won't say who it is.Company spokesman Gary Thompson told The Associated Press that Caesars officials were showing the Showboat on Tuesday to a party that had expressed interest.
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices