The chief executive officer of the Cherokee Nation's corporation was fired on Monday.

Cherokee Nation Industries CEO Jim Majewski had been on leave since June. He came under criticism for CNI's purchase of $2.5 million in stock of company called Global Energy Group.

That money is now gone, according to CNI. Combined with other expenses and investments related to the deal, CNI has lost more than $6.3 million.

Majewski was paid $75,000 during his leave. He is no longer on the payroll but he was named a defendant in a federal court case that Cherokee Nation councilors filed over the failed deal.

Get the Story:
CNI sacks CEO Majewski (The Tahlequah Daily Press 11/2)
Board fires Cherokee business exec (The Tulsa World 11/1)

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

Related Stories:
Cherokee Nation businesses losing millions (07/28)
Cherokee councilor sue chief, executives for fraud (06/26)