Colton Iverson was drafted in the 2nd round by the Celtics. They didn't actually have a 2nd rounder to use but bought one to use on the young seven footer. The thought on draft night was that he would provide depth at center on a young roster. Turns out that wasn't meant to be and he signed a contract to play overseas. The Celtics still own his rights so if he wants to play in the NBA next year, he'll have to get agree to terms with the Celtics or be acquired by another team to do so.
This isn't a new strategy by any means, but I've never done any research into how effective it can be. Obviously it depends on the player, the team that drafted him, the team that he plays for in another country, and dozens of other variables. But Scott Schroeder decided to look back at the league's past success and failure stories. Go read the whole thing for proper perspective, but here's the bulk of his conclusion.
Looking at the evidence, it's difficult to think that all of this year's second-round picks currently signed overseas are going to someday have successful stateside returns. Players like Singler, Songaila, Turiaf and Bonner have shown it's possible, however, to go overseas and return to the team that drafted you, thereby proving that the non-international draft and stash process can sometimes work out for the player. And even if these second-round picks don't make it on their first run under an NBA contract, there's still potential for an NBA future. Patrick Beverley was originally drafted and stashed by the Miami Heat in 2009, but was cut when he returned for training camp in 2010.