U.S. offers to pay Native Americans $1.4 billion for lost funds

Washington (CNN) — Thousands of American Indians would receive as much as $1,000 each if they accept a proposed $1.4 billion to settle a class-action lawsuit over government mismanagement of tribal lands.

The suit, filed in 1996, accused the U.S. Department of the Interior of failing to account for and provide revenue from a trust fund representing the value of Indian assets managed by the government.  To read the full story click here.

U.S. offers to pay Native Americans $1.4 billion for lost funds

By Paul Courson, CNN
December 8, 2009 11:21 p.m. EST

Attorney General Eric Holder says the proposal addresses  allegations the U.S. mismanaged Native Americans' money.

Attorney General Eric Holder says the proposal addresses allegations the U.S. mismanaged Native Americans’ money.

STORY HIGHLIGHTS

  • Lawsuit from 1996 accused U.S. of mismanaging Individual Indian Money funds
  • The funds represent the value of Indian assets managed by the government
  • Settlement would give American Indians as much as $1,000 each
  • Litigant: Deal is “significantly less than the full amount to which the Indians are owed”

RELATED TOPICS

Washington (CNN) — Thousands of American Indians would receive as much as $1,000 each if they accept a proposed $1.4 billion to settle a class-action lawsuit over government mismanagement of tribal lands.

The suit, filed in 1996, accused the U.S. Department of the Interior of failing to account for and provide revenue from a trust fund representing the value of Indian assets managed by the government.