06/18/2014 11:44 EDT | Updated 08/18/2014 05:59 EDT

Ponzi scheme sentencing delayed for former UConn, NBA player Tate George

TRENTON, N.J. - A sentencing for a former NBA player convicted of ripping off investors in a Ponzi scheme has been pushed back.

Tate George was to have been sentenced in federal court in Trenton on Wednesday. But after a status conference between attorneys and the judge, it was decided to hold the sentencing in August.

Prosecutors say that will give more time for both sides to file pre-sentencing papers.

George was known for a buzzer-beating shot in the NCAA Tournament for UConn in 1990.

He was convicted last fall on four wire fraud counts.

Prosecutors say George got others — including other pro athletes — to invest in what they thought was a real estate opportunity.

George allegedly used the money to pay back other investors and for personal expenses.

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