Sunday, October 19, 2014

News
Former Tuberville Partner Sentenced to Prison
By Alabama News Network


A former business associate of football coach Tommy Tuberville is headed to prison for defrauding investors of millions of dollars in a fraud scheme.

The Opelika-Auburn News reports a Lee County judge sentenced 42-year-old David Stroud to 10 years in prison on Monday.

Stroud and Tuberville became associates after Tuberville was hired as the head football coach at Auburn.

Tuberville wasn't part of the criminal case in Lee County, but he was named in a federal lawsuit filed by investors who claimed some $1.7 million in losses. Tuberville settled the suit and was dropped from the case.

Stroud pleaded guilty to fraudulent securities trading. The judge ordered him to pay more than $2.1 million to a dozen investors.

State regulators say Stroud falsely portrayed himself as a commodities trader.

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