Cherokee Nation may lose $3.6M on failed venture

Tuesday, April 17, 2007  

The Cherokee Nation of Oklahoma could lose $3.6 million on a failed Internet service venture, The Muskogee Phoenix reports.

The tribe loaned $4 million for the Cherokee Connex business. But without customers, the company closed up.

The tribe has been repaid $400,000, with another $1.6 million due this July. “We’re out $3.6 million if we never see any more,” a tribal councilor said, The Phoenix reported.

Get the Story:
Tribe could lose $3.6M on business (The Muskogee Phoenix 4/17)

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

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