Former UCONN basketball player Tate George has turned himself in to the FBI on charges of defrauding investors of $2 million in a ponzi scheme, according to the Hartford Courant.Between 2005 and 2011, George secured $2 million that he said was going toward real estate investments.
Instead, he deposited some of the money in his personal bank account, and used the rest to repay more senior investors.
If the allegations are true, that’s about as ponzi-schemey as they come.
George played for UCONN from 1986-1990. He briefly played for the Nets and Bucks in the NBA.
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