TRENTON, N.J. — Another day has passed in the New Jersey sentencing hearing for a former NBA player convicted of running a real estate Ponzi scheme.
Former University of Connecticut and New Jersey Nets guard Tate George appeared in federal court in Trenton on Tuesday for the continuation of a hearing that began earlier this month.
George has been jailed since his 2013 conviction on four counts of wire fraud. Each count carries a maximum 20-year sentence, but George is expected to face considerably less time.
Prosecutors contend he convinced people including NBA players to invest in his company but used their money to pay off earlier investors.
George is representing himself and disputing the amount of money prosecutors say people lost. The outcome could determine the length of George’s sentence.
This hearing will continue Wednesday.
