Bail denied for Tate George after Ponzi scheme conviction

 

A former NBA player convicted in a real estate Ponzi scheme has been denied bail by a federal judge in New Jersey.

Tate George has been jailed since his conviction last fall on four mail fraud counts. His motion to be released on bail was denied by U.S. District Judge Mary Cooper on Wednesday.

George starred for the University of Connecticut and played for the New Jersey Nets and the Milwaukee Bucks.

The U.S. attorney’s office contends George persuaded pro athletes and other victims to invest in a purported real estate opportunity. Prosecutors say instead of buying the real estate he’d touted he used the money to pay off earlier investors and to cover personal expenses.

George accuses the government of prosecutorial misconduct. He has filed to have his conviction reversed.