Ex-UConn star and NBA veteran Tate George was sentenced to nine years in prison Thursday for his role in a real estate Ponzi scheme.
George made off with $2.55 million from 17 different investors, including NBA players Charlie Villanueva and Brevin Knight, and was also ordered to pay back in full what was owed to each individual. He was originally arrested in 2011, and later convicted back in September 2013. The case was adjudicated in New Jersey and the state’s U.S. Attorney, Paul J. Fishman, threw his support behind the judge’s decision.
“Those who perpetrate Ponzi schemes shamelessly trade on relationships with those who trust them. In this case, George relied on his sports stardom to attract unwitting investors. His crimes justified today’s lengthy sentence.”
Throughout his sentencing defense, George went through two different defense lawyers before eventually representing himself. He maintained he was an honest businessman whose investments had failed spectacularly.
However, evidence gathered by the FBI indicated he lied to investors about what their money would be used for. Instead of using the funds to invest in real estate holdings, he put them to personal use and paid off previous investors. Some of those personal uses included spending $60,000 on home renovations, $6,000 on his daughter’s birthday party and a “Tate George” reality show pilot, among other things.
https://www.youtube.com/watch?v=K4WyABcetSM
George also attempted to produce three letters in court to serve as character references to support a more lenient sentence. Those letters were quickly found to be fabricated, and the individuals whose signatures appeared on the documents claimed they did not sign or offer the documents.
In addition to Villanueva and Knight, George also duped a municipal judge, a Rhodes Scholar, and “The Apprentice” winner Randal Pinkett.
The former first-round pick played just four seasons in the NBA. He never averaged more than six points or 15 minutes per game. However, he will forever go down in UConn basketball lore for this shot against Clemson in the 1990 Sweet Sixteen.
George, 47, still maintains his innocence and will appeal his conviction and sentencing.
