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Now Mr. Tuberville in the News...Not Good.

yeaauburn

By yeaauburn
in Rivals Football

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keesler Founding Father

keesler 5,934

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I wonder why al.com's article title doesn't read "Texas Tech head coach Tommy Tubberville"?

He is our former head coach, and the lawsuit is for an Alabama based company, the article is written by an Alabama media outlet, what does Texas Tech have to do with it? Was he part of a similar company in Texas too?

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auburn4ever Founding Father

auburn4ever 1,266

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Texas Tech coach Tommy Tuberville is being accused in a federal lawsuit of defrauding investors out of more than $7.1 million.

Peter G. Aiken/US PRESSWIRELUBBOCK, Texas (AP) -- Texas Tech coach Tommy Tuberville is being accused of defrauding investors out of more $1.7 million in Alabama following his tenure at Auburn.

A federal lawsuit filed Friday 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 suit says Tuberville and Stroud misappropriated assets, and falsified client statements and fund performance reports as they "unjustly enriched themselves" at the expense of the investors.

Tuberville, who spent two seasons away from coaching after leaving Auburn in 2008, did not immediately return a message left with Texas Tech seeking comment.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Read more: http://sportsillustrated.cnn.com/2012/football/ncaa/02/28/tuberville-fraud-lawsuit.ap/index.html#ixzz1niSVVFa1

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Pablo Proficient

Pablo 0

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I don't believe Tubbs was involved, but that 5 mill. Buyout just got spent, this one is going to cost him

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dpwspringer Veteran

dpwspringer 0

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I don't believe Tubbs was involved, but that 5 mill. Buyout just got spent, this one is going to cost him

IMO, these high paid coaches and professional athletes are often targeted by flim-flam artists, con men, and other folks of questionable ethics wanting a piece of their pile of money who play on their inflated egos and/or their 'financial immaturity'.  Often they are 'financially immature' because so much money came their way too fast and the money train seems endless to them.

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bird36 Veteran

bird36 5

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I once had a business professor tell me the most vulnerable people to fall victim to financial fraud or bad investments were doctors.  He said doctors are experts in their field, are very intelligent and believe in their decision making ability.  The problem is they often forget that high finance is not their field.  I wonder if CTT got taken for a ride. 

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yeaauburn Veteran

yeaauburn 21

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Whatever the case maybe, the Tuberville's are getting ready to have their faith tested. "It's not the load that weighs you down. It's how you carry it." Good luck CTT.     

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keesler Founding Father

keesler 5,934

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Tommy Tubberville is a smart man, I've always thought of him as a honest, truthful, Christian man as well.

It's hard for me to believe that he would step into this buisness venture with blinders on and allow another individual to run a scheme/scam on honest people and take their money. 

Tubbs dang sure didn't need the income from this venture, he just needed something to keep him occupied until he could get another multi-million dollar a year coaching gig.

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Guest Tigereagle03

Guest Tigereagle03

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Anything to hurt Auburn in that article?

Seriously?  Did you even read the article?

Nope so deal with it..

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