Texas Tech Red Raider football coach Tommy Tuberville has been named in a federal suit alleging that he and his business partner John David Stroud defrauded investors of over $1.7 million, according to John Turner of The Huntsville Times.
Seven plaintiffs are seeking damages against TS Capital, an investment company that Tuberville worked for alongside Stroud. The complaint was filed against the two men on Friday afternoon.
Neither party returned a call from The Huntsville Times as of Tuesday afternoon.
The 32-page lawsuit accuses Tuberville’s company of negligence and other inappropriate business tactics.
The following excerpt lists the major allegations.
"[Tuberville and Stroud] mixed their clients' assets with their own, failed to file tax returns, falsified client statements, falsified fund performance reports and "generally disregarded and violated customary practices and procedures followed in the hedge fund and security investments industry."
It’s unknown how all of this will affect the Red Raiders coach for the 2012 season if he is indeed found guilty.
Keep it tuned to Bleacher Report for the latest breaking news and opinion on the Tommy Tuberville scandal as it breaks.