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Texas Tech Coach Accused of Investment Fraud Related to Hedge Fund

Marnie C. Lambert

Tommy Tuberville, coach for the Texas Tech football team, has been named in a federal lawsuit related to an alleged hedge fund scam. Tuberville, along with his partner John David Stroud and eight investment entities, are accused of taking more than $1.7 million from investors in Alabama, Tennessee, and Arkansas.

Tuberville and Stroud were the cofounders of TS Capital Management, and they allegedly lured investors into a hedge fund and other funds operated by the company. Tuberville and Stroud are accused of instead using investors’ cash for personal expenses and making false statements to investors. The lawsuit alleged that the pair “employed devices, schemes, and artifices” to intentionally defraud their investors. Of the seven investors involved in the suit, most had already asked for their cash to be returned and have not yet been paid. At least two of those investors were told by Tuberville that they would receive their money by October 7th, 2011.

The lawsuit alleged that Tuberville ran the hedge fund scam after leaving Auburn in 2008.

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