Seven Cherokee Nation council members filed a lawsuit in federal court, accusing Principal Chief Chad Smith and two tribal business executives of fraud.

The lawsuit stems from the tribe's investment in Global Energy Group, a publicly traded company. Cherokee Nation Industries, the business arm of the tribe, purchased $2.5 million in stock.

The council members allege Smith authorized the purchase without the consent of the CNI advisory board. The suit also names CNI executives Benjamin L. Dixon and James Majewski, who was allegedly given authority to act by Smith.

Get the Story:
Cherokees sue chief, officials in fraud case (The Oklahoma 6/25)
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7 Cherokee councilors sue tribe (The Muskogee Phoenix 6/25)

Relevant Links:
Cherokee Nation - http://www.cherokee.org