Former NBA Player Convicted Of Fraud In $2M Ponzi Scheme

Law360, New York (September 30, 2013, 8:20 PM EDT) -- A former NBA player was convicted of wire fraud Monday after a New Jersey federal jury decided he operated a Ponzi scheme, bilking his investors, some of whom were fellow players, of $2 million in purported real estate investments that went toward his personal expenses.

C. Tate George was found guilty of all four wire fraud charges against him after federal prosecutors proved he used his real estate company, The George Group LLC, as a personal piggy bank after collecting $2 million from investors, money they...
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