Former UConn Star Tate George Charged In $2 Million Ponzi Scheme

Tate George is best known for the play you see above, a turnaround buzzer-beater off a length-of-the-court pass from Scott Burrell that beat Clemson in the Sweet 16 of the 1990 NCAA tournament's East Regional. It happened two years before Christian Laettner's shot to beat Kentucky, and it's one of those March Madness memories that's now a perpetual part of the "One Shining Moment" archive loop. It was also the defining play of the first extended NCAA run of Jim Calhoun's coaching career in Storrs.

Now, however, George, 43, has turned himself in to federal investigators on a charge of wire fraud for allegedly bilking investors for more than six years. From the Hartford Courant:

George is accused of placing the money in both his firm's and his personal bank account.

Rather than using the money to fund real estate development projects as promised, George is accused of using money from new investors to pay existing investors, in Ponzi scheme fashion. He also used some of the money for home improvement projects, meals at restaurants, clothing and gas.

Authorities say the The George Group had virtually no income generating operations.

If convicted, George is looking at a $250,000 fine and 20 years in prison. That's a lot of time to watch replays of his game-winner.