Texas Tech Coach Accused of Investment Fraud Related to Hedge Fund
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.
The investment fraud lawyers with Meyer Wilson represent investors nationwide in stockbroker mediation, arbitration, and litigation. We have successfully recovered investment losses for hundreds of clients, and we look forward to discussing your case with you.
If you would like to learn more about protecting yourself and your savings from Ponzi schemes and stock scams, request your free copy of our must-read book Five Signs of Investment Fraud …And What to Do if it’s Happened to You.