User ID
Password
  Forgot User ID
or Register Today!
VegasInsider.com
Follow Us on Facebook Follow Us on Twitter Follow Us on Google+ VI Mobile Scores and Betting Odds
Home
NFL
NBA
NHL
MLB
NCAA FB
NCAA BK
Golf
Auto Racing
Horses
Boxing/MMA
More
Betting Tools

 
Fraud sentencing for George delayed

New Sportsbook.ag customers: Make your 1st bet, get your 2nd bet free, 100%, winnings paid in cash.
Join Now

Already have an account? Click here to view new Exclusive Rewards!

TRENTON, N.J. (AP) - Sentencing for a former NBA player convicted of ripping off investors in a Ponzi scheme was postponed Wednesday as attorneys for each side squabbled over how much money his victims lost.

Advertisement
Tate George was scheduled to be sentenced in federal court in Trenton, but after a status conference between attorneys and U.S. District Judge Mary Cooper, the sentencing was pushed back to Aug. 19-20 to allow for more time to decide the monetary issue.

George, a former UConn star who later played for the New Jersey Nets and Milwaukee Bucks, is best remembered for a buzzer-beating shot in the NCAA Tournament in a 1990 game against Clemson.

George didn't attend the hearing. He has been held in jail in New Jersey since his conviction last fall on four wire fraud counts.

The U.S. attorney's office said George operated a Ponzi scheme by persuading victims, including other pro athletes, to invest in a purported real estate opportunity.

Instead of purchasing the real estate he'd touted, prosecutors said, George used the money to pay off earlier investors and to cover personal expenses.

Wire fraud carries a maximum 20-year sentence, though defendants rarely receive the maximum. Since George had no previous criminal history, his sentence under federal guidelines will depend largely on the total monetary loss to his victims, George's attorney, David Schafer, said Wednesday.

That figure has been estimated at about $2 million, but Schafer said the government is claiming a higher figure based on more victims than the seven who testified at trial. He said he is seeking a sentence of three to four years, while the government is pushing for about nine years.

The U.S. attorney's office, through a spokeswoman, declined to comment on what sentence it was seeking.

''Mr. George had a consulting and development business over many years,'' Schafer said. ''The government is basically going back and seeing who is claiming to be a victim.''

Among the witnesses testifying for the prosecution at George's trial were Detroit Pistons forward Charlie Villanueva and ''The Apprentice'' winner Randal Pinkett.

George's victims will have the opportunity to testify at his sentencing. Schafer said he expects George to speak as well.

---

Follow David Porter at www.twitter.com/DavidPorter-AP

AP NEWS
The Associated Press News Service

Copyright 2014
The Associated Press
All Rights Reserved

  
HEADLINES
News: Updated Rookie Odds
ASA: Fading the Cavs and LeBron
Judge OKs record-setting $2B sale of Clips
Timberwolves get free agent Mo Williams
LeBron's homecoming show is sold out
Rose returns as Team USA opens camp
Lakers finally confirm Scott is new coach
LeBron to go back to No. 23 with Cavs
Kevin Love withdraws from Team USA
MORE HEADLINES
 
Why Buy Picks From VegasInsider.com
NBA Pro Basketball Handicapper Sports Picks Records
VegasInsider.com Gold Membership
2013 NBA SEASON PICK RECORDS
Money Leaders
Handicapper Money
Chip Chirimbes + 3067
Paul Bovi + 2374
Kevin Rogers + 2090
Last 7 Day Leaders
Handicapper Money
No Games Last 7 Days  
   
   
Percentage Leaders
Handicapper Pct
Dave Cokin 59 %
Paul Bovi 58 %
Stephen Nover 56 %
Guaranteed Leaders
Handicapper Money
Paul Bovi + 2013
Michael Black + 1848
Kevin Rogers + 1579
Over-Under Leaders
Handicapper Money
Stephen Nover + 1320
Kyle Hunter + 1080
Joe Nelson + 993
Member Leaders
Handicapper Money
Bruce Marshall + 2114
Mike Rose + 1851
Kyle Hunter + 945
MORE PICK RECORDS
  
corner graphic
With a VI Gold Membership, you can SAVE 10% off a Live Odds subscription, SAVE 20% off Daily Pick packages, and receive access to up to 1,000 Member Plays each month!