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2 clusters · 12 sources · 4 days · First seen · Last updated
Lawsuit against Emmitt Smith regarding loan misappropriation
Overview
NFL Hall of Famer Emmitt Smith and business partner David Mosley are facing a lawsuit in Delaware’s Chancery Court filed by Kituwah LLC, the economic development arm of the Eastern Band of Cherokee Indians.
The lawsuit alleges that Smith and Mosley, through their firm 4 13 Solutions Inc., misappropriated a $2.5 million loan provided in 2023. While the funds were intended for ‘Project Exodus’—a renewable energy venture involving solar or wind projects in Texas—the plaintiffs claim the money was instead used to improperly repay a different company, Wilson Holdings.
Attorneys for Kituwah LLC have described the alleged diversion of funds as being ‘essentially, like a Ponzi scheme.’ The complaint further alleges that the defendants misrepresented their progress in securing a U.S. Department of Energy loan and eventually ceased communication. Kituwah LLC is seeking the return of the principal amount, approximately $600,000 in accrued interest, legal fees, and additional damages.
Entities
Kituwah LLC · Emmitt Smith · Eastern Band of Cherokee Indians · David Mosley · Wilson Holdings
Timeline
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7 days ago
[BUSINESS] 4 sourcesEmmitt Smith sued over alleged misappropriation of wind farm loanEmmitt Smith and partner David Mosley are being sued by Kituwah LLC for allegedly misappropriating a $2.5 million loan intended for a Texas wind farm project.
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10 days ago
[BUSINESS] 9 sourcesEmmitt Smith accused of defrauding Native American investorNFL legend Emmitt Smith and his partners are accused in a Delaware lawsuit of defrauding the Eastern Band of Cherokee Indians of $2.5 million intended for a solar energy project.
Sources
breitbart.com · brobible.com · deadspin.com · elclarinete.com.mx · exame.com · fortune.com · independent.co.uk · mymotherlode.com · parismatch.com · theathletic.com · thelutheran.com.au · tmspn.com