Tate George accused of Ponzi scheme
September 18, 2013
TRENTON, N.J. (AP) - A former NBA player best known for his 1990 tournament buzzer-beater for Connecticut is on trial in Trenton, N.J., on federal charges of wire fraud.
Tate George is accused of carrying out a Ponzi scheme from 2005 to early 2011, netting him $2 million. He has denied wrongdoing.
Prosecutors say George used money investors sank into his purported real estate firm to pay previous investors or for home improvements and personal expenses.
Detroit Pistons forward Charlie Villanueva testified Tuesday that he was swindled out of $250,000 by his fellow Connecticut alum, The Trentonian newspaper (http://bit.ly/19f8DrV ) reports.
George spent four seasons in the NBA, with the New Jersey Nets and Milwaukee Bucks. But he's best known for catching a full-court pass and sinking a jumper at the buzzer to give UConn a victory in a 1990 NCAA regional semifinal against Clemson.
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