The tribal-issued license for First Green Loans. Image from Chippewa Cree Tribe
The Chippewa Cree Tribe of Montana only receives 4.5 percent of revenues from its online loan business, according to a former executive. The tribe owns Plain Green Loans. A company called Think Finance provides the technology for the service and receives 95.5 percent of the revenue, the former executive said. "Who owns and controls what?” Neal Rosette Sr., who used to work for Plain Green, said in a statement to The Havre Daily News. Rosette left Plain Green in January 2012 but continued to receive 2.5 percent of the company's revenues under a fee agreement that was kept secret from other tribal members. The payments stopped in August 2013 when the tribe objected to them. Rossette is now suing the tribe, Think Finance and other associated companies in tribal court to reinstate the payments. According to the Associated Press, he and another executive received $1.1 million under the secret agreement. The tribe won an arbitration award of $1.1 million from Encore Services, its partner in the loan business. But the tribe is seeking even more from the firm -- around $13.1 million -- as part of a lawsuit in federal court. Get the Story:
Tribal member defends receiving hidden payments (AP 9/9)
Rosette defends 'secret' payments (The Havre Daily News 9/10)
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