Found September 01, 2009 on MyTeamRivals.com: Yardbarker Blogger Network
As if this week was already bad enough for Michigan head coach Rich Rodriguez now this comes out in the wake of the Ncaa Allegations. Annarbor.com reports that Rodriguez is being sued for defaulting on a loan he and four partners used to build a gated community of luxury condominiums near Virginia Tech's Lane Stadium in Blacksburg, Va. According to court records, Nexity Bank wants to collect $3,930,103.59 from Rodriguez and his partners, a sum that includes funds from a promissory note as well interest and late fees totaling approximately $300,000. The amount doesn't include attorney fees or court costs. Records show The Legends of Blacksburg LLC signed a promissory note for $26,100,000 in September 2007. Rodriguez's financial adviser, Mike Wilcox, issued a statement through Michigan on Monday night saying Rodriguez is the victim of a real-estate Ponzi scheme. "Several other coaches and prominent individuals are involved in this transaction that was initiated in 20...
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