"U.S. Pays $1B To Settle Indian Fund-Mismanagement Suits"

"YAKIMA -- The U.S. will pay more than $1 billion to settle a series of lawsuits brought by American Indian tribes over mismanagement of tribal money and trust lands, under a settlement announced Wednesday. The agreement resolves claims brought by 41 tribes -- including some in Washington state -- to reclaim money lost in mismanaged accounts and from royalties for oil, gas, grazing and timber rights on tribal lands."

"Negotiations continue on dozens of other cases.

The settlement was announced by the Justice Department and the Interior Department, which manages more than 100,000 leases on tribal trust lands and about 2,500 tribal trust accounts for more than 250 federally recognized tribes."

Shannon Dininny reports for the Associated Press April 11, 2012.

Source: AP, 04/12/2012