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Former NBAer Tate George arrested for alleged Ponzi scheme

Sep 23, 2011, 4:56 PM EDT

Tate George AP

Tate George is a University of Connecticut legend — he hit the dramatic buzzer beater to beat Clemson in the 1990 Sweet 16 — who went on to a four-season NBA career, mostly in New Jersey.

George is also in jail as you read this after he turned himself into federal authorities Friday in relation to an alleged $2 million Ponzi scheme he was involved with in New Jersey.

(Prosecutors) say George used his company to get more than $2 million from investors for purported real estate development projects. George’s attorney, Thomas Ashley, says his client is innocent and will plead not guilty.

He got people to invest in real estate right now? I have no idea if George was involved in a scam or not, but if he can sell real estate in New Jersey right now he has a future in infomercials.

George made his first court appearance on Friday. There will be more.

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