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Bad news continues to plague Michigan coach Rich Rodriguez.
The Associated Press reported Tuesday that Rodriguez has been sued in federal court by a South Carolina bank. The suit, filed Aug. 13 in U.S. District Court in Spartanburg, S.C., says the coach owes the bank $3.9 million for defaulting on a loan to build condos near Virginia Tech’s Lane Stadium in Blacksburg, Va.
“Coach Rodriguez is the victim of a fraudulent real estate Ponzi scheme that has unfortunately affected many Americans,” said Mike Wilcox, an adviser to Rodriguez.
Wes Few, a Columbia, S.C., attorney representing the bank, disagreed: “It’s not a Ponzi scheme. The victim is my client.”
