More details on lawsuit against Coach Rod

Submitted by ATX Wolverine on

http://www.annarbor.com/sports/rich-rodriguezs-business-partner-investi…

A banned Clemson University booster now facing five felony counts was one of Michigan football coach Rich Rodriguez’s business partners in the failed real-estate venture that led to a $3.9 million lawsuit filed last month.

Clegg Lamar Greene, named in the suit accusing Rodriguez, Greene and three others of defaulting on the multi-million-dollar loan in May, was arrested Dec. 29 on five felony counts of breach of trust with fraudulent intent. He faces up to 10 years in prison on each count.

Greene allegedly stole money from investors, including Rodriguez, to pay debts on various business deals, buy furniture and have cosmetic surgery, according to South Carolina Law Enforcement Division arrest affidavits.

Bloody hell...can this week get any worse for Coach Rod?

EDIT: Not arguing that Coach Rod is guilty here, but just the optics keep getting worse for the guy.

bouje

September 1st, 2009 at 10:18 PM ^

NOT ONLY HAS HE RUN THIS FOOTBALL TEAM INTO THE GROUND BUT HE IS ALSO A POOR BUSINESSMAN WHO IS AS GULLIBLE AS ANY OTHER PERSON IN THESE UNSTABLE FINANCIAL TIMES! I FOR ONE WOULD NOT WANT MY SON PLAYING FOR THIS MAN.

(sarcasm)

In all seriousness he should have consulted the space emperor!

ShockFX

September 1st, 2009 at 10:18 PM ^

"Clegg Lamar Greene, named in the suit accusing Rodriguez, Greene and three others of defaulting on the multi-million-dollar loan in May, was arrested Dec. 29 on five felony counts of breach of trust with fraudulent intent. He faces up to 10 years in prison on each count."

Yeah, I don't think RR is the guilty party here.

Big Boutros

September 1st, 2009 at 11:21 PM ^

I love the first reaction shot from the guy in the gray suit; he doesn't scream, his eyes don't bulge in terror and disbelief, and he doesn't even hasten his departure from the grisly scene. He just looks at the exploded head and thinks, "Well, I guess the presentation's over. Time to go home and spray my perm."

tomhagan

September 1st, 2009 at 10:29 PM ^

OP: I think you are missing the point: Based on this...the scammer got RR and some other people on board, betrayed their trust and got them to buy in...

Now that the "investment" has gone boom and bust, RR and others are left holding the bag, and this guy is the ringleader and is to blame.

If anything, RR is "guilty" of getting in business with the wrong people, but he will have to be accountable for the loan co-sign, more than likely.

ATX Wolverine

September 1st, 2009 at 10:41 PM ^

I get what you're saying, but your last point is the concern. The way I initially read the article, it seemed to suggest that RR knowingly associated with this shady character who had already gotten into trouble with Clemson/NCAA.

If this story grows, the fact that RR got scammed by him will probably be ignored by the media and the focus put on why he had the relationship with this guy to begin with. I don't envy RR's position right now. He must be praying that time's constant rate speeds up a bit till Saturday.

bouje

September 1st, 2009 at 11:23 PM ^

Before the SEC found out that it was a Ponzi scheme and sent him to jail... Now he's the most hated guy in America.

This guy probably didn't have a track record of Bernie Madoff but this shit was running rampant here in the U.S. for a long time and a LOT of people got suckered in (many who are a lot smarter than you or I).

To call this guy a "shady character" is a bit... Stupid really because it's after the fact I'm sure that he came off just as Madoff did as a winning businessman with a worthwhile proposition.

ScoobyBlue

September 1st, 2009 at 10:49 PM ^

Clegg Lamar Greene? Now that he's a Michigan man, RR can get swindled by much more respectable and prominent wall street figures...like the Bernie Madoffs of the financial world.

Super Unknown

September 1st, 2009 at 11:16 PM ^

Ridiculous assertion.

tomhagan mentioned this to the OP but there are a few people who are missing missing the point.

The creditor was screwed over as well as Rodriguez and other guarantors. Who does the creditor have the best chance of getting his money from - the criminal debtor who defaulted or the guarantor(s) making millions? Although not always involving criminal investment schemes, this is an everyday occurrence in the business world.

This has absolutely nothing to do with being guilty of a crime or conspiring with shady charactors.

Terrible timing though.