Former NBA player Tate George gets 9 years for running real estate Ponzi scheme

Ex-nba player tate george sentenced to 9 years for fraud. court Thursday to nine years in prison for running a real estate Ponzi scheme.

But the 80-year-old has admitted she still needs the money. who swindled thousands out of an estimated $50bn with a Ponzi scheme. She was introduced to the former Wall Street financial expert by.

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Ex-ballers to NBA stars: Don’t let RE investors scam you. The main culprits: bad financial advice, divorces and extravagant lifestyles. Fraud was another issue. Earlier this year, former NBA player Tate George was sentenced to nine years in prison for defrauding fellow athletes like Charlie Villanueva and Brevin Knight in a real estate Ponzi scheme.

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TRENTON, N.J. – Former NBA player and University of Connecticut star Tate George has been sentenced to nine years in prison for running a real estate Ponzi scheme. George, who played for New Jersey.

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Police later found out that Colonial Realty was a ponzi scheme and around 7,000 investors lost. except the stripper poles,’ said a real estate agent in 2007. That same year, 50 Cent listed the home.

 · Former NBA player Tate George was sentenced to nine years in prison on Thursday by a federal judge in Trenton, N.J., for running a $2 million Ponzi scheme. Former NBA player tate george sentenced to 9 Years for Real Estate Ponzi Scheme. Former NBA player Tate George was sentenced Thursday to nine years in prison for orchestrating a Ponzi scheme for more than $2 million, the New.

Victims include current NBA players. Tate George, a former basketball star at the University of Connecticut who spent four years in the NBA in the early-mid 90s, will spend the next nine years in prison for "orchestrating" a $2 million real estate Ponzi scheme, the Department of Justice announced last week.