The San Francisco Chronicle is reporting that Tate George, a former New Jersey Nets guard and the CEO of purported real estate development firm The George Group, was indicted today on charges of running a $2 million Ponzi scheme that targeted ex-professional athletes.
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 Madoff is serving a 150-year sentence.  As of Sept. 30, 2018, over $13 billion, or more than 75 percent, of the lost principal (estimated to be just under $18 billion) has been recovered.
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.
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Former NBA All-Star and first-round pick Chris Gatling has been sentenced to 2.5 years in prison for running a fraud scheme. Gatling, 50, pleaded guilty in September to two counts of fraudulent.
Former NBA player may get 9 years in prison, sentencing postponed June 19, 2014 19:52 Views: 117 Fraud sentencing for former NBA player Tate George has been postponed until August 19-20, while he was scheduled to be sentenced in federal court in Trenton, NJ.
PHILADELPHIA, PA – Former University of Connecticut basketball star and NBA player Tate George on Wednesday lost his appeal of the nine-year prison sentence he received for his role in orchestrating a.
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"This former NBA player abused his fame and status to. was sentenced to six years in federal prison.. an investigation into a piracy scheme "in excess of $100 million worth of illicit.