Eastern Cherokee 'mob' upset over per capita fund losses

Wednesday, April 15, 2009  

Members of the Eastern Band of Cherokee Indians met last week to discuss losses to the tribe's gaming per capita fund.

The North Carolina tribe invested profits from the Harrah's Cherokee Casino in the stock market. When the economy took a big dive last year, a $57 million loss showed up in the trust accounts for tribal children.

"I’m embarrassed to say that I didn’t know what was going on, and that’s my fault,” said Cynthia Grant, whose son's account lost $21,000, The Smoky Mountain News. “Now we need to find out what we can do for the children.”

Only one tribal leader attended the meeting. Chief Michell Hicks halted the stock investments last month but angry members say he should be impeached.

Get the Story:
Cherokee parents protest losses in children’s trust fund (The Smoky Mountain News 4/15)