Thursday, October 27, 2022

Tuberville Justice vs. "Just Us"


The AP reported:

Sen. Tommy Tuberville asserted Democrats support reparations for the descendants of enslaved people because “they think the people that do the crime are owed that.”
Red Team Senator Tommy Tuberville defended his characterization of the Blue Team.

“We don’t have enough people right now paying the price for a lot of the crimes that are being made,” he said. “They don’t need to be rewarded for it. They need to understand that we can’t run a country — it’s like a football team. If you’ve got people going in different directions breaking all the rules, you’re not going to win."

Cincinnati.com reported in 2020:

A little more than a decade ago, after departing from Auburn University where he was head coach, Mr. Tuberville entered into a 50-50 partnership with a former Lehman Brothers broker named John David Stroud. Their ventures, which included TS Capital Management and TS Capital Partners — T for Tuberville and S for Stroud — turned out to be a financial fraud. Mr. Stroud was sentenced to 10 years in prison, and Mr. Tuberville was sued by investors, who accused him of fraud and violating his fiduciary duty to take care of their investments; he reached a private settlement in 2013.

A lawsuit declared Tuberville 50-50 partnered with a criminal and that their enterprise engaged in fraudulent activity:

Stroud used bank accounts held in the name of TS Capital Partners, TS Capital Partners, LLC, TS Capital Management, LLC, TS Capital Fund, L.P., and TS Capital GP, LLC or their predecessors to pay for lavish travel and personal expenses utterly unassociated with the business operations of TS Capital Partners, TS Capital Partners, LLC, TS Capital Management, LLC, TS Capital Fund, L.P., and TS Capital GP, LLC and frequently withdrew substantial amounts of cash from accounts holding investor funds, which sums he did not repay. 

Stroud and TS Capital Partners, TS Capital Partners, LLC, TS Capital Management, LLC, TS Capital Fund, L.P., and TS Capital GP, LLC solicited plaintiffs’ investments in TS Fund managed and operated by defendants, through untrue representations, omissions, and fraudulent measures.

Stroud also made false and misleading oral statements to plaintiffs to induce them to invest or to keep their investments in place.

Stroud and TS Capital Partners, TS Capital Partners, LLC, TS Capital Management, LLC, TS Capital Fund, L.P., and TS Capital GP, LLC commingled personal, operating, and investor funds and disregarded the separate legal identities of TS Capital Partners, TS Capital Partners, LLC, TS Capital Management, LLC, TS Capital Fund, L.P., and TS Capital GP, LLC and their predecessor entities.

Plaintiffs received judgements for their investment losses plus $ 5,481,792.18 in punitive damages against Stroud, TS Capital Partners, TS Capital Partners, LLC, TS Capital Management, LLC, TS Capital Fund, L.P., and TS Capital GP, LLC. 

This amount represents three times the aggregate net losses of all plaintiffs ($ 1,827,264.06) and is intended to punish Stroud, TS Capital Partners, TS Capital Partners, LLC, TS Capital Management, LLC, TS Capital Fund, L.P., and TS Capital GP, LLC for their egregious misconduct and to deter Stroud, TS Capital Partners, TS Capital Partners, LLC, TS Capital Management, LLC, TS Capital Fund, L.P., and TS Capital GP, LLC from future misconduct.

Tommy Tuberville, like fellow Red Team Senator Rick Scott, walked away from fraud with little legal consequences.  Tommy's correct.  Not enough U.S. Senators paid the price for crimes they committed.

Update 3-31-23:  Senator Tuberville is stalling the promotion of 160 generals and flag officers and two civilian Pentagon nominations because he doesn't like the Pentagon's time off benefit for soldiers seeking legal abortions.  

Update 4-27-23:  The Tuberville hold on military promotions remains in place and some of his Red Team colleagues are becoming concerned. 

Update 5-6-23:   Seven former defense secretaries panned Insane Red Tommy Tuberville's hold on some 200 military promotions.  Mark Esper joined venture capital firm Red Cell Partners in 2022.  Chuck Hagel became a PEU in 2009 with McCarthy Capital.

Update 8-16-23:  Moneywise reported:

United States Senator Tommy Tuberville (R-AL) has just disclosed $250,000 in futures trading in wheat, corn, soy and cattle.

On August 14, Tuberville — who sits on the Senate Committee for Agriculture, Nutrition, and Forestry — reported multiple agricultural trades through June and July, all in the range of $1,000 to $15,000.

“He literally influences agricultural futures via legislation and is trading it actively,” Unusual Whales wrote on X, formerly known as Twitter — before pointing out Tuberville has “previously, scored some big gains on futures in wheat, corn and soy.”

Rich men north of Richmond... 

Update 9-24-23:  Tuberville disclosed $250,000 in agriculture futures trades in wheat, corn, soy and cattle.  He sits on the Senate Committee on Agriculture, Nutrition and Forestry.  Legislation can influence the value of his holdings.  In most sane worlds this would be a conflict of interest.  Not in our PEU world where insider connections and knowledge are used to change the system to juice returns.  

Update 10-9-23:  Tuberville won't lift his blockade on U.S. military promotions even in the midst of an Israel-Hamas war.  His blockage impacts senior officers serving in the Middle East.