According to various reports, Texas Tech coach Tommy Tuberville has been sued in federal court, accused of defrauding investors out of more than $1.7 million in Alabama following his tenure at Auburn.
A federal lawsuit filed Friday in U.S. District Court in Montgomery, Ala., names Tuberville, John David Stroud and eight investment entities as defendants, claiming the two men “employed devices, schemes, and artifices to defraud” seven plaintiffs from Arkansas, Alabama and Tennessee.
The lawsuit apparently alleges that Tuberville and Stroud misappropriated assets, and falsified client statements and fund performance reports as they “unjustly enriched themselves” at the expense of the investors.
The suit purportedly further contends that Tuberville and Stroud “intentionally or recklessly made untrue statements of material facts and omitted to state material facts … to induce plaintiffs to purchase interests in the hedge fund or funds operated and managed by defendants.”
It also appears that TS Capital Management has been the subject of an NFA regulatory investigation. A full copy of that investigation can be found at:
The foregoing information is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
If you have questions about your investments with TS Capital Management, please call The White Law Group’s Chicago office at 312/238-9650 for a free consultation.
For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.