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Former NBA star sentenced in Ponzi scheme: Tate George, once a first-round NBA draft pick, will go to federal prison for nine years thanks to his role in a $2.55 million 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.