Tuberville's Business Partner Charged With Fraud
MONTGOMERY, Ala. (AP) - Federal authorities say a business partner of Texas Tech coach Tommy Tuberville has been charged with fraud.
The U.S. Commodity Futures Trading Commission announced Wednesday that John David Stroud and his companies have been charged with fraud and misappropriation in taking $2.2 million of investors' money and using it for personal expenses, such as car payments, travel and entertainment.
Tuberville was not charged.
Tuberville and Stroud are party to a separate civil lawsuit by seven plaintiffs from Arkansas, Alabama and Tennessee that alleges the two defrauded investors out of more than $1.7 million. Stroud has denied that Tuberville was involved in dealings that led to the lawsuit. Both men have denied any wrongdoing.
Tuberville and John David Stroud co-founded TS Capital Management in Alabama while Tuberville coached at Auburn.
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