Tate George Found Guilty On All Counts
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The U.S. Attorney’s office in New Jersey confirms that former UConn basketball star Tate George has been found guilty on all counts in a Ponzi scheme.
He was charged with carrying out a Ponzi scheme from 2005 until 2011, bringing in $2 million dollars. Prosecutors said he convinced investors — including another former Husky, Charlie Villanueva — to invest in purported real estate projects, but instead, used the money to pay previous investors or for his personal expenses.
The trial before U.S. District Judge Mary Cooper lasted three weeks.
George is best-known for his buzzer-beating shot for the Huskies in the 1990 NCAA regional semifinal game against Clemson.
Sentencing was scheduled for Jan, 16, 2014.