Tuesday, 2 September 2014
Last updated 5 hours ago
May 24 2012 | 3:21am ET
The hedge fund partner of Texas Tech University football coach Tommy Tuberville has been arrested and charged with fraud.
John David Stroud was indicted on May 7 on 21 criminal counts, including unregistered sale of securities, fraud and theft. He was arrested on May 15 and posted bail the following day.
According to the Alabama Securities Commission, Stroud ran a Ponzi scheme at TS Capital Partners from 2008 until last year. Prosecutors say he stole some $5.2 million from investors to cover personal expenses.
Tuberville was not charged in the case; the former Auburn University coach was also not named by the Commodity Futures Trading Commission when it announced its investigation into Stroud in March. But he does face a lawsuit filed by TS investors, accusing him of commingling his assets with those of investors and of lying to clients.
For his part, Tuberville claims to be a victim of the fraud, saying he lost $450,000. Stroud has seconded the coach's protestation that he had little to due with the operations of the Auburn, Ala.-based firm.
Stroud is set to go on trial on Oct. 1.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...