The Osage Nation of Oklahoma has approved a $380 million trust settlement and the money will start flowing in time for Christmas.

The tribe sued the federal government in the U.S. Court of Federal Claims 11 years ago. A federal judge ruled that the tribe was owed $330 million for mismanagement of its trust assets and trust funds.

The Obama administration agreed to resolve the case and will deposit $345.8 million into the Osage trust account on November 14, The Osage News reported. The remainder of the settlement, $34.2 million, will go to attorneys.

Once the $345.8 million is in the account, the tribe will distribute it equally to every "headright" on December 5. With 2,229 headrights in the trust, each will receive $155,136.

However, not all headrights are intact so the money might be distributed among multiple heirs. Additionally, about 30 percent of headrights were willed or transferred to non-Indian entities, so they too will get a share.

“Well, the settlement includes the non-Osage shareholders for $69 million, and no one tried to stop it,” Charles Pratt, who is a plaintiff in a separate trust case, told The Osage News.

Get the Story:
Osages to receive $380 million in December from U.S. Gov (The Osage News 9/26)

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Osage Nation to settle trust mismanagement lawsuit for $380M (08/18)