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MONDAY, MARCH 3, 2003

Federal officials are reviewing an $80 million loan the Seneca Nation of New York obtained from Malaysian financiers but might not be able to do much about it.

The tribe secured the loan to build a new casino facility in Buffalo. It comes with a 29 percent interest rate but The Buffalo News discovered additional terms that raise suspicion, said to a former Bush administration official.

"The secretary of the interior [Gale Norton] has a trust responsibility to the tribe," said Wayne Smith, ousted last year for refusing to rubber-stamp a casino-related decision. "Where is she?"

The paper reported that the loan has an adjustable rate even above the 29 percent. If taxes are due on the loan, the agreement calls for the tribe to pay them.

Get the Story:
Additional costs to casino loan deal revealed (The Buffalo News 3/2)

Relevant Links:
Seneca Nation - http://www.sni.org

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