And now this article today from Ann Arbor, Rich is now being sued becuase he was a part of a real estate scheme. From the article:
University of Michigan football coach Rich Rodriguez is being sued for
defaulting on a real-estate loan to build high-end condominiums in the shadows
of Virginia Tech’s Lane Stadium.
One of five guarantors for a proposed
80-condominium gated community called The Legends of Blacksburg, Rodriguez and
his partners allegedly owe Nexity Bank
$3.9 million, including interest and penalties.
Rodriguez was served a
summons and complaint in his football office at 5:27 p.m. on Aug. 24, court
papers show. Michigan practiced earlier in the day.
According to court
filings, The Legends of Blacksburg, LLC, signed a loan promissory note for $26.1
million in September 2007, when Rodriguez was coach at West Virginia.