Tommy Tuberville Named in $1.7 Million Fraud Lawsuit
Recently, Rant Sports reported that Tommy Tuberville’s wife was the subject of an investigation into a fatal accident in which she ran a red light, striking an elderly couple. One of the victims later died as a result of the incident, and an investigation ensued. Earlier today, it was announced that the case has been close with no charges filed, but that isn’t the end of the trouble for the Tuberville family.
Earlier today, The Huntsville Times reported that Tommy Tuberville, current football head-coach at Texas Tech University, has been named as one of the subjects in a $1.7 million fraud lawsuit.
After Tuberville resigned as the head football coach at Auburn University following the 2008 season, he and partner John David Stroud co-founded the Auburn-based investment company, TS Capital Partners, which is run by Stroud Capital.
The former coach’s job was to drum up business for a massive hedge fund run by Stroud Capital.
The suit, filed last Friday in a Montgomery, AL district court, claims that Tuberville and Stroud defrauded investors out of over $1.7 million.
According to the Huntsville Times article, several plaintiffs, including a former employee, allege that Tuberville and Stroud, “mixed their clients’ assets with their own, failed to file tax returns, falsified client statements, falsified fund performance reports and ‘generally disregarded and violated customary practices and procedures followed in the hedge fund and security investments industry’.”
The story goes on to state that the suit lists 16 complaints against the two partners, including “negligence or wantonness,” “fraudulent misrepresentation” and “fraudulent suppression.”
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[...] leveled, and the pressure is firmly on the shoulders of Tommy Tuberville. Given recent reports that Tuberville may be investigated for fraud due to filing of false tax documents, today’s reports are even more damaging to the Texas Tech football [...]
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