Former NBA Player and CEO of the George Group Sentenced to Nine Years in Prison for Role in a $2 Million Ponzi Scheme

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January 21, 2016. 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 fraud scheme, announced U.S. Attorney Paul J. Fishman for the District of New Jersey.

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NBA players schooled on real estate investing by former stars. who was sentenced to nine years in prison for "orchestrating" a $2 million real estate Ponzi scheme.

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 and CEO of the george group convicted on All Counts in $2 Million Ponzi Scheme. The jury deliberated four hours before convicting George, 45, of Newark, of four counts of wire fraud after a three-week trial before U.S. District Judge Mary L. Cooper. George was immediately remanded into federal custody to await sentencing, which is scheduled for January 16, 2014.

Former nba player tate george Sentenced For Ponzi Scheme The Newark resident and ex-Nets and Bucks player ran a Ponzi scheme that nabbed $2 million, authorities say. By Eric Kiefer, Patch Staff

Getting to know you all over the past eight years has been an incredibly rewarding and.. Stanford, and whispers that the CD program might be a Ponzi scheme.. In 2008, the financial crisis prompted $2 billion in CD redemptions6, forcing the firm to. Stanford is serving a 112-year sentence at a federal prison in Florida.

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