Eastern Cherokee teens sue over casino per capita trust

Wednesday, April 18, 2012  

Minors of the Eastern Band of Cherokee Indians in North Carolina are suing the tribe over their casino per capita payments.

Since 1995, every tribal member has received a share of gaming revenues. The tribe invests the payments in a trust fund for minors, who get the money when they turn 18.

The trust fund lost millions of dollars when the stock market crashed in 2008. The class action claims tribal officials mismanaged the money.

The plaintiffs are 138 teens who each lost about $22,000, The Smoky Mountain News reported. The lawsuit was filed in tribal court.

Get the Story:
Cherokee teens sue in class action for money lost in stock market crash (The Smoky Mountain News 4/18)