The Navajo understood early on how they were being hoodwinked out of billions by their overlord. Funny how that works. A sovereign that has trust responsibility totally fails in it's mission to provide trust and accountability to a Native nation.
Check this settlement. Easy to believe, just hard to swallow.
On May 30, 2014, the Navajo Nation Council approved a $554 million settlement
that the tribe reached with the United States for its historical mismanagement
of the tribe’s trust fund assets. It is the largest trust mismanagement
settlement ever obtained by a single tribe against the U.S.
The settlement is the culmination of years of negotiation between the Navajo Nation and the U.S. after the Navajo
Nation sued the U.S. Department of Interior in 2006 for breaching its trust
obligations to the tribe in failing to adequately manage, invest and account for
tribal trust funds and resources and maximize the related trust income. Claims
under the lawsuit dated back to 1946.
Internally, the Navajo Nation
established the Historical Trust Asset Mismanagement Litigation Trust Fund,
which helped finance the lawsuit. The tribe also established the Trust
Management Litigation Taskforce comprised of eight council delegates to guide
the Navajo Nation Department of Justice and the tribe’s outside counsel, the
BuckleySandler LLP firm and co-counsel the Nordhaus Law Firm, during the
litigation.
The settlement will be executed and payment made to the
Navajo Nation once Navajo Nation President Ben Shelly and the U.S. Departments
of Justice, Interior and Treasury provide a final review and approval of the
terms of the agreement.
No comments:
Post a Comment