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In reply to the discussion: 'Oh my God': Morning Joe panel stunned by Tommy Tuberville's latest display of ignorance [View all]marble falls
(72,546 posts)... he resigned from Auburn after a 5-7 season.
"After resigning from Auburn in December 2008, Tuberville formed a 50-50 partnership with former Lehman Brothers broker John David Stroud, creating TS Capital Management and TS Capital Partners,[46] where he had an office and helped find investors.[47] In February 2012, seven investors sued Tuberville and Stroud, saying they were defrauded of more than $1.7 million[48] that they invested from 2008 to 2011.[49] Tuberville's attorneys denied the allegations.[50]
In May 2012, Stroud was indicted for fraudulent use of $5.2 million from various Auburn investment companies, including his partnerships with Tuberville;[51] Tuberville was not charged.[52] Tuberville said in court filings that he was also a victim, and had lost $450,000; he settled the investor lawsuit in October 2013 on undisclosed terms.[53][54] In November 2013, Stroud pleaded guilty and received a 10-year sentence.[51]
Tommy Tuberville Foundation
In 2014, Tuberville founded the Tommy Tuberville Foundation. Its website said its purpose was "to recognize and support organizations and causes that connect with the beliefs and values of the Tuberville family: assisting our military and veterans; awareness, education and prevention of health issues, particularly among women and children; and, education and community initiatives."[55]
Through its first five years, the foundation raised $289,599 but spent just $51,658 on charitable causes, tax records showed.[56] This rate of 18% is less than the 65% that the Better Business Bureau says ethical charities should spend on their causes.[57] In 2020, the Associated Press called the Tuberville Foundation "a questionable charity that raises money but gives very little away".[58] Foundation officials said the tax filings did not reflect volunteer labor and donated materials used to refurbish veterans' homes.[59]
In 2020, The New York Times reported that Tuberville campaign and foundation officials "produced internal records for 2018 that showed nearly $20,000 was raised for a temporary project to provide a retreat for veterans. But the records raised bookkeeping questions, since they showed more than $61,000 of 2018 revenue, roughly twice what the charity reported to the I.R.S. that year".[60]
In 2021, the Washington Post reported, the foundation "reported it had $74,101 in revenue and spent just 12 percent of that, or $9,000, while $32,000 went to administrative costs (including nearly $12,400 to pay off a truck the charity purchased in 2018 for $27,369)".[61] By the end of 2021, the foundation's website had gone defunct.[62]
In July 2023, a spokesperson for Tuberville said that the foundation had been under audit and had paused its activities, but that Tuberville was reforming it.[61]
U.S. Senate
https://en.wikipedia.org/wiki/Tommy_Tuberville
He was even a mediocre fraudster.