Blog Entry

Tuberville named in $1.7M fraud lawsuit

Posted on: February 28, 2012 2:06 pm
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Posted by Jerry Hinnen

Texas Tech is in the middle of its third spring practice under Tommy Tuberville. But no matter how well the Red Raiders may be doing on the Lubbock practice fields, it's been a tough month for Tuberville away from football.

A police investigation into Tuberville's wife, Suzanne Tuberville, following the death of an 87-year-old man who was injured in a November accident in which Suzanne was involved only reportedly closed Monday. Tuberville's legal stress isn't going away anytime soon, though: the Huntsville (Ala.) Times reported Tuesday that Tuberville is near the center of a lawsuit alleging more than $1.7 million worth of fraud on the part of Tuberville and his investment partners at the hedge fund TS Capital Partners.

The suit was filed by a collection of seven plaintiffs in U.S. District Court in Montgomery (Ala.) Friday. The Times details some of the allegations against Tuberville and TS Capital co-founder John David Stroud:

The 32-page suit alleges 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."

Several plaintiffs, including at least one former employee of TS Capital, have demanded their money be returned, yet, according to the complaint, none of the money invested has been accounted for. The suit also states that investors listed "have reason to believe that most, and possibly all, of their invested funds have been misappropriated, improperly converted and/or squandered."

The suit lists 16 complaints against Tuberville and Stroud, including "negligence or wantonness," "fraudulent misrepresentation" and "fraudulent suppression."
Tuberville was the subject of a 2009 Birmingham News story which touted him as an "amateur stock guru" and detailed his role within the Auburn-based TS Capital, where he maintained an office between his departure from the Auburn head coaching position and his hire at Tech.

Whatever the results of the suit, it won't keep Tuberville from performing his duties with the Red Raiders, and won't prevent his team from rebounding from their disappointing 5-7 2011 season. But that mark showed how much work there is to be done in Lubbock, and anything that might blur their head coach's focus -- and you would think a $1.7 million lawsuit would do it -- certainly won't be welcome news either for Tuberville or his program.

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Comments

Since: Jan 16, 2012
Posted on: February 29, 2012 10:42 am
 

Tuberville named in $1.7M fraud lawsuit

TT needs to get rid of Tuberville and hire a capable coach.....crooks have no place in the Big 12.



Since: Nov 9, 2008
Posted on: February 29, 2012 9:58 am
 

Tuberville named in $1.7M fraud lawsuit

As I've said before and will say again... only Texas Tech would run out and hire a guy that had gotten fired at his last job after back to back losing seasons. Credit Kent Hance and Larry Anders for the bigger and bigger mess that is evolving at Tech.

Tommy Tub-A-Dump rides again... this time to Jail!      



Since: Dec 1, 2009
Posted on: February 29, 2012 5:19 am
 

Tuberville named in $1.7M fraud lawsuit

CrimsnTide, now I'm just guessing here, but color me mighty doubtful that Bear Bryant would EVER, under any circumstances whatsoever, apologize to that lightweight SOS Craig James. Now, if things have fallen so far that doing so is the new standard of "manhood," then our men oughta give the job over to somenone qualified. Say, the ladies with the lumberjack shirts and the sensible shoes.



Since: Oct 29, 2009
Posted on: February 29, 2012 12:52 am
 

Tuberville named in $1.7M fraud lawsuit

I only follow Tech because I have to - my wife went there.  I'm a Leach fan, and hated to see him go, but I have to say that Tech has found a way to stay in the spotlight the last couple years (even if it doesn't involve football directly).  This will will continue to help with recruiting in a sad sort of Texas way.  Regardless, it's nice to see TT getting some publicity and more than 1-2 comments.  GUNS UP! 



Since: Nov 29, 2006
Posted on: February 28, 2012 10:20 pm
 

Tuberville named in $1.7M fraud lawsuit

Did somebody actually post that Tuberville was one of the "premiere" coaches in the nation? Seriously? Tommy Tuberville is coaching at Texas Tech, a place no premiere coach would be. Lubbock is a place that coaches "settle" for, when their options are limited. Is Mike Leach also premiere? Texas Tech is one of the dregs of the Big 12, and will be pushed even further down the ladder with the addition of TCU and WVU. In the state of Texas they are looking up at Texas, Texas A&M, and TCU and about even with Baylor. Tommy is going to have a tough time with this one. When you add in his wife's vehicular homicide problem, it doesn't make for happy times at the Tuberville household. Premiere coach indeed. Anybody think the Red Raiders are headed to the BCS anytime soon?



Since: Feb 11, 2010
Posted on: February 28, 2012 9:59 pm
 

Tuberville named in $1.7M fraud lawsuit

College football is such a mess.  I think a minor league NFL/college football relationship is in order.  I know it sounds impossible to set up, but the current situation is falling apart.

As for the necks that invested with a college football coach/"amateur stock guru" deserve their fate....unless there was fraud. 




Since: Jul 5, 2008
Posted on: February 28, 2012 7:43 pm
 

Tuberville named in $1.7M fraud lawsuit

Its getting uglier and uglier for college athletics. 



Since: Jul 23, 2009
Posted on: February 28, 2012 7:32 pm
 

Tuberville named in $1.7M fraud lawsuit

Whatever his off the field problems Tommy Tuberville is one of the priemere coaches in the country and after one more season with the red raiders he will be competing for the big-12 yearly.He is just now getting his players with another very solid recruting class and he will be a winner there given the chance.He came to Auburn after Bowden destroyed a great program recruting some shady guys and not controlling his guys to the point of letting controll of his team go.Tuberville came in and kicked several of the best players off of the team because of detremental behaviour,installed disipline and brought in his style players and he started winning quick.His 1st and last season were 5-7 but the rest were solid.He won out right or shared the SEC west title 5 times,won 1 SEC title and 1 BCS game.(should have been the bcs title game) in 2004,he brought better facilitys to AU and he made it to where Auburn has won more sec west confrence games since the SEC split into two divisions in 92' with the games he won.He was 7-3 over rival bama, thats always good for an Auburn coach.

      
;     &nbs
p;     &nb
sp;   I hate the way coach Tubbs left Auburn but I do think he was a bit tired of the good ole boy polititcs of the big sec schools, and Auburn did him wrong in 03' talking to Petrino behind Tubbs back.I still think it was his time to move on and some of his Auburn teams and players will forever be remembered in Auburn history.I also think the next school that gives him a bit of time they will all of the sudden see thier team winning and competeting for titles. 



Since: Jul 9, 2010
Posted on: February 28, 2012 6:46 pm
 

Tuberville named in $1.7M fraud lawsuit

Crimson Tide............There have been a number of college football head coaches involved in different type of money making failures over the past several years.  I will not list them by name, but they have been in the news over the past several years too ! 



Since: Dec 24, 2009
Posted on: February 28, 2012 6:05 pm
 

Tuberville named in $1.7M fraud lawsuit

The TT regents can get that out of the money they wont have to pay Coach Leach because of the bogus sovereign immunity ruling....

LOL '-)

They would have to get it from somewhere if they've put the football program on a pay-as-you-go basis. I doubt if Tuberville has made enough in bowl payouts to even pay his own salary. Not a very good ROI guy.

Leach on the other hand probably had such a high ROI as to be among the highest in the division 1 coaching ranks. Refusing to pay your cash cow doesn't sound like a very good business practice.

But then, I guess TTech isn't trying to sell itself as a business school.


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