$9M Loan \u2018Misappropriated\u2019<\/strong><\/h2>\nMoreover, the plaintiffs said they gave the tribe\u2019s Kewadin Casinos Gaming Authority a $9 million loan, which was supposed to be used to acquire land and begin construction work. But the lawsuit claims this sum was misappropriated.<\/p>\n
The money was spent \u201cas the Gaming Authority saw fit and not based on any mutually-approved budget,\u201d\u00a0it claimed.<\/p>\n
Judge Joyce Draganchuk has yet to issue a final judgement, although on Monday she awarded the plaintiffs damages of $60 million for the collapsed Huron County project and $28.8 million for the failed Lansing venture.<\/p>\n
The tribe is expected to appeal.<\/p>\n","protected":false},"excerpt":{"rendered":"
Michigan\u2019s largest Native American tribe must pay investors in two derailed casino projects more than $88 million in damages, an Ingham County Circuit Court judge ruled this week. Investors sued the Sault Ste. Marie Tribe of Chippewa Indians in April 2020 for breach of contract and fraudulent misrepresentation. The plaintiffs claimed the tribe made false […]<\/p>\n","protected":false},"author":36,"featured_media":251615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60,18456],"tags":[84398,81863,84397],"acf":[],"yoast_head":"\n
Sault Chippewa Tribe on Hook for $88M Over No-Go Michigan Casinos<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n