DES MOINES, Iowa (CBS/AP) -- Former Michigan basketball star Rumeal Robinson has been sentenced to 6 1/2 years in jail for financial fraud.

A jury found Robinson guilty in September of 11 charges, including bank bribery, wire fraud, conspiracy to commit bank fraud and making a false statement to a financial institution.

Prosecutors say Robinson schemed between 2004-05 to borrow more than $700,000 from a bank in Ankeny, Iowa, with the help of a loan officer.

They say he claimed the money was for a business but that he actually bought a condominium, cars, furniture and invested in an energy company.

Robinson was also ordered to pay nearly $1.2 million in restitution.

In the 1989 national title game, Robinson hit two free throws with 3 seconds left to give Michigan a win over Seton Hall.

He also spent six seasons in the NBA, including the 96'-97' season with the Los Angeles Lakers.

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