Tommy Tuberville settles fraud suit

Updated: October 10, 2013, 6:18 PM ET
Associated Press

MONTGOMERY, Ala. -- Cincinnati football coach Tommy Tuberville has settled a lawsuit filed by investors seeking to recover money lost in a hedge fund Tuberville helped manage.

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

The lawsuit alleged clients were defrauded of more than $1.7 million.

Attorneys for Tuberville denied the allegations. The ex-Auburn and Texas Tech coach's former business partner, John David Stroud, pleaded guilty to securities fraud in August. Tuberville was not charged but the suit was scheduled for trial Oct. 15.

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

Victor Hayslip, an attorney for Tuberville, said with Stroud's plea, parties in the suit "found it in everybody's best interests to resolve the disputes."


Copyright 2013 by The Associated Press

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