Friday, 19 December 2014
Last updated 9 hours ago
Oct 11 2013 | 9:05am ET
Prominent college football coach Tommy Tuberville has settled a lawsuit accusing him of defrauding investors in a hedge fund.
The investors in TS Capital Partners had sought more than $1.7 million from the University of Cincinnati coach, alleging that he and partner John David Stroud misled them and used the hedge fund as something of a personal piggy bank. Tuberville has denied any wrongdoing and claimed that he was a victim of the scam, as well.
Stroud pleaded guilty to running a Ponzi scheme at the firm in August, and has said that Tuberville, who was not charged, had nothing to do with its operations. Stroud was sentenced to 10 years in prison.
A lawyer for Tuberville told the Associated Press that following Stroud's guilty plea, it was "in everybody's best interests to resolve the disputes."
Terms of the settlement were not disclosed. A federal judge approved the deal on Tuesday.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.