Emmitt Smith Accused of Ponzi Scheme Involving Cheating Native American Tribe Out of $2.5M

Loading Twitter/X Embed...
If tweet fails to load, click here.

quote:

---

NY Post –NFL legend Emmitt Smith is being accused of conning a Native American investor out of $2.5 million as part of an alleged solar project scheme.

The lawsuit, which was filed in Delaware on Monday, alleges that Kituwah LLC, the investment and economic development arm of the Band of Cherokee Indians, loaned the $2.5 million after it was convinced to join the project by Smith, his business partner David Mosley, and their real estate company, 4 13 Solutions Inc., Front Office Sports reported.

The suit against the Hall of Famer and NFL all-time rushing leader is seeking at least $2.5 million, along with interest, costs, expenses, and any additional damages to be determined at trial.

The loan is now more than two years past due, and Kituwah alleges that it has “not recovered a penny.” It also alleges that the money was really used to pay back a company that had previously invested in a venture.

---

quote:

---

The lawsuit also labeled the whole thing a “ploy,” and Kituwah found itself being given a “steady stream of lies” about a deal that first came onto the radar in early 2023.

Kituwah was told it would be a partner in the Project Exodus solar farm that was being planned, and it would eventually receive funding from the U.S. Department of Energy.

The suit claims the loan was made with “false projections and data” and that it had been promised a loan repayment “in a matter of months.” It also expected the solar farm to be up and running by 2024.

Kituwah describes the whole thing “essentially, like a Ponzi scheme” and claims that after it launched its own investigation into what happened with the money, it discovered the money was earmarked to “improperly pay” Wilson Holdings, which had partnered with Smith and the other defendants on other investments.

---