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Many in the George Washington High School community are reflecting and appreciating the positive impact Chauncey Billups made on and off the court and supporting local youth. It comes after Billups, a Denver sports legend and native, was arrested by the FBI in connection with two investigations involving a sports betting scheme and an organized crime ring.

Billups grew up in Denver's Park Hill neighborhood. While he played four years of basketball at George Washington High School, Billups was a 4x all-state first-team pick and led the team to state championships. He also played for the Colorado Buffaloes in college in Boulder from 1995 to 1997. Billups then had a very successful NBA career, including two stints with the Denver Nuggets, and was inducted into the Colorado Sports Hall of Fame in 2015. He is currently the head coach of the Portland Trail Blazers.

All around George Washington High School are reminders of the legacy and impact of Billups. His jersey hangs in the gymnasium, plus signs of his name as player of the year, along with the high school's gym named after him, called the "Chauncey Billups Court."

"Everything that I can say about Chauncey and his family is positive," said Steve Finesilver, a teacher and coach at the high school. Finesilver met Billups when the basketball star was 14.

"Chauncey took my class as a freshman, and then I noticed right away that Chauncey Billups was going to outwork everybody," said Finesilver. "As he developed into quite a high school player, it became obvious that he was just going to work and study and achieve greatness."

Dr. Dackri Davis, the principal at George Washington, said Billups still makes an effort to stop by the high school often, making a positive impact, by mentoring and supporting local youth.

"I think when he took basketball (seriously) here, he impacted our community, not just those that are on his team and that state title that they achieve, but the way that he continues to give back through basketball in the state of Colorado," said Davis.

"His impact has been monumental, and it centers more about what he's done for and in the community than it does about his ability as a basketball player and I love that," said Finesilver.

Billups was inducted into the Naismith Basketball Hall of Fame last year, and his hometown was never far from his heart. In an interview about it last year with CBS Colorado's Michelle Griego, Billups said, "I'm Colorado through and through and Denver through and through."

The high school named their basketball court in his honor two years ago.

"That was pretty exciting for us, just the embeddedness into this community in Park Hill," said Davis. "He is very well revered in our community."

While the community is respecting the investigation and legal process moving forward, they are still remembering Billups' impact.

"It doesn't and won't change anything that I feel about Chauncey," said Finesilver.

"I think the world of him... Until we know the facts and how things kind of play out, we'll continue to share that message that people make mistakes, and yes, our heroes can, too," said Davis.

Federal investigators dropped two indictments, including one where Billups, and more than two dozen others, are accused of rigging underground poker games, cheating victims out of as much as $7 million. The feds claim it was backed by the Italian mafia.

The technology included a rigged shuffling machine, an X-ray device, and special glasses to see pre-marked cards. The second indictment accuses NBA players of withholding information allowing people to win big on prop bets.

The Portland Trail Blazers say they are cooperating with the investigation.

A leadership Academy also carries Billups' name at Regis University, called Porter-Billups Leadership Academy. In a statement on behalf of Regis University and PBLA, they say: "We are deeply troubled by the indictment against Chauncey Billups, co-founder of the Porter Billups Leadership Academy. We respect the legal process and will closely monitor developments as the facts emerge. Our unwavering commitment to the underserved youths through the PBLA program and our institutional integrity remains steadfast."

In a statement from the CU Athletic Department, they say: "Chauncey Billups has been a valued member the CU Buffs community. CU Athletics learned today through the media about the allegations against him. As this is an ongoing investigation which does not involve CU, we have no further comment."

Denver community members reflect on positive impact of Chauncey Billups following sports gambling arrest