Tate George Faces Sentencing For Ponzi Scheme

Former NBA player Tate George argued his case in federal court in New Jersey on Wednesday as he awaits sentencing on fraud charges.

The former UConn star was convicted in 2013 on four counts of wire fraud in what prosecutors say was a real estate Ponzi scheme.

Each count carries a maximum 20-year sentence. But George likely will face far less time.

George is representing himself at Wednesday's hearing in Trenton. He claims the real estate ventures were legitimate and he didn't mislead anybody.

Some of the scheme's victims included former professional athletes and celebrities. One of them, former NBA player Brevin Knight, allegedly lost $300,000.

George played for the NBA's New Jersey Nets and Milwaukee Bucks. He's best remembered for a buzzer-beating shot for UConn in a 1990 NCAA tournament game against Clemson.

The U.S. attorney's office contended George persuaded victims to invest in real estate opportunities by lying about his company's assets and projects, then took their money and used it for personal expenses and to pay off earlier investors.

In attempts to toss out the verdict, George argued in court filings that the projects were legitimate and that some of the alleged victims still had money invested in some of them and could still reap returns.

He also claimed government prosecutors failed to turn over evidence that could have cleared him, and said his attorney failed to call key witnesses during the trial.

The trial judge rejected those claims.

George, who has been in jail since his conviction in the fall of 2013, has been representing himself since last December when an attorney who had replaced his trial attorney withdrew from the case.

His sentencing is expected to take all of Wednesday and part of Thursday.

Copyright AP - Associated Press
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