Tuberville settles fraud lawsuit - KCBD NewsChannel 11 Lubbock

Tuberville settles fraud lawsuit

Former Texas Tech Head Football Coach Tommy Tuberville Former Texas Tech Head Football Coach Tommy Tuberville

MONTGOMERY, Ala. (AP) - Cincinnati football coach Tommy Tuberville has settled a lawsuit filed by investors seeking to recover money lost in business deals.

U.S. District Judge Myron Thompson approved the settlement on Tuesday, according to online court filings. Details weren't released.

The lawsuit alleged that a hedge fund Tuberville helped manage defrauded clients of more than $1.7 million. Devin Dolive, an attorney representing Tuberville, declined to comment.

Attorneys for Tuberville had denied the allegations. A onetime business partner of Tuberville, John David Stroud, pleaded guilty to securities fraud in August. Tuberville was not charged but the federal lawsuit had been scheduled for trial on Oct. 15.

Stroud was ordered to serve 10 years in jail and pay more than $2.1 million in restitution.

Tuberville is a former Auburn and Texas Tech coach.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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