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Rich Rodriguez Under The Gun Again!

Discussion in 'The Cheap Seats' started by jmillhimes, Sep 2, 2009.

  1. jmillhimes

    jmillhimes Walk On

    May 18, 2009
    Rich Rodriguez Under The Gun Again!

    ANN ARBOR, Mich. (AP)â€â€ÂMichigan coach Rich Rodriguez was business partners with a banned Clemson booster in a failed real-estate venture that led to a $3.9 million lawsuit.

    Clegg Lamar Greene was part of the deal tied to a federal lawsuit accusing Rodriguez of defaulting on a multimillion-dollar loan tied to a Virginia condo development.

    The news site AnnArbor.com first reported the connection late Tuesday.

    Greene, 71, was arrested Dec. 29 on five felony counts of breach of trust with fraudulent intent. He is accused of stealing money from investors, including Rodriguez, to pay debts on various business deals, buy furniture and have cosmetic surgery.

    Greene, who lives in Clemson, S.C., faces up to 10 years in prison on each count.

    He also was accused in 2000 of providing a $1,300 loan and use of his boat to two Clemson recruits. A university investigation found two minor infractions, and officials disassociated Greene from the football program. Greene was reinstated to the program and later banned again, Clemson associate athletic director Tim Bourret said.

    Rodriguez, who was the offensive coordinator and associate head coach at Clemson from 1999-2000, wouldn’t discuss his relationship with Greene when asked about it Tuesday on the weekly Big Ten coaches teleconference.

    “As mentioned, we haveâ€â€Âmy financial adviser and his representativeâ€â€Âhave taken care of that, and I would prefer just to talk about the football and Western (Michigan) and our upcoming game,†he said.

    Rodriguez’s agent did not immediately return a message Wednesday.

    The lawsuit against Rodriguezâ€â€Âfiled Aug. 13 in U.S. District Court in Spartanburg, S.C., and served on Rodriguez at his Ann Arbor office last week says the coach owes a bank $3.9 million for defaulting on a loan to build condos near Virginia Tech’s Lane Stadium in Blacksburg, Va.

    Rodriguez said the case won’t hinder his Michigan’s preparations for the season, which begins Saturday.

    “This is something that’s ongoing,†Rodriguez said during the Big Ten call. “It’s not anything that will take our attention away from getting ready for the season.â€ÂÂ

    Under the corporate name of The Legends of Blacksburg, LLC, Rodriguez and four partners borrowed more than $26 million for the project in September 2007, when Rodriguez was coaching at West Virginia. But as the luxury condo project struggled amid the economic downturn, that amount was amended down to about $3.63 millionâ€â€Âthe cost of only the land itself, according to loan documents filed with the court.

    Mike Wilcox, a Toledo, Ohio-based adviser to Rodriguez, issued a statement Tuesday saying the coach had been the victim of fraud dating back to 2004.

    “Coach Rodriguez is the victim of a fraudulent real estate Ponzi scheme that has unfortunately affected many Americans,†Wilcox said. “Several other coaches and prominent individuals are involved in this transaction.â€ÂÂ

    Wes Few, an attorney representing the bank, said his client was the one out $3.63 million.

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