FORT WORTH, Texas \u2014 Former Dallas Cowboys running back and Pro Football of Famer Emmitt Smith is in some hot water this week, as he is being accused of scheming $2.5 million from an investor tied to a Native American group, according to a report from Front Office Sports.<\/p>\n
A lawsuit filed in Delaware\u2019s Chancery Court on Monday by Kituwah LLC, an investment group of the Eastern Band of Cherokee Indians, is accusing the NFL\u2019s all-time leading rusher along with his business partner David Mosley of failing to pay back a $2.5 million loan for what was supposed to go to a solar project in Texas. The lawsuit alleges that Smith and Mosley instead used the money to pay back a different company that they owed money to, implying that they engaged in a Ponzi scheme.<\/p>\n
Kituwah says it has \u201cnot recovered a penny\u201d of reimbursement from the loan after years of “steady streams of lies\u201d when making efforts to begin repayments. The report from Front Office Sports says that Kituwah was convinced to provide the loan due to \u201cfalse projections and data\u201d and a misrepresentation of the level of interest and potential investments from others. It was promised repayment \u201cin a matter of months.\u201d The initial loan was given in 2023 and was due on Feb. 1, 2024.<\/p>\n
\u201cKituwah poured substantial time, efforts, and resources in the purported joint venture,\u201d the lawsuit states. \u201cNot only has Kituwah not seen any returns on its investment, Kituwah has been forced to expend additional costs in efforts to reclaim the amounts it is still owed pursuant to its investment, including to investigate what happened to its money.\u201d<\/p>\n
Kituwah further explains that it \u201chas not seen any evidence that Project Exodus has made any meaningful progress towards completion.\u201d The loan has accrued over $600,000 in interest, and Kituwah said that it was willing to waive the interest in an effort to \u201cwork out a resolution\u201d but that it was \u201ceffectively ignored\u201d by Smith and Mosley.<\/p>\n
The lawsuit seeks at least $2.5 million, plus interest and additional damages related to the financial burden to go along with any attorneys\u2019 fees that the suit will require.<\/p>\n
This lawsuit comes after Smith\u2019s restaurant in Las Vegas, named Emmitt\u2019s, was closed last September by the building\u2019s landlord after failing to pay over $400,000 in past rent.<\/p>\n","protected":false},"excerpt":{"rendered":"FORT WORTH, Texas \u2014 Former Dallas Cowboys running back and Pro Football of Famer Emmitt Smith is in…\n","protected":false},"author":2,"featured_media":989640,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2066],"tags":[129948,129947,50135,129934,129935,129937,129938,32374,230,9488,129940,229,257,2461,43650,21847,7,48740,42187,98332,129939,129936,129945,1744,129664,41584,122,129943,2699,6,38644,129944,119140,12774,129941,9,129946,638,51,686,129942],"class_list":["post-989639","post","type-post","status-publish","format-standard","has-post-thumbnail","category-dallas-cowboys","tag-adverse-events","tag-adverse-media","tag-americas","tag-business-and-commerce","tag-business-crime","tag-business-impact","tag-business-litigation","tag-business-operations","tag-cowboys","tag-crime","tag-crimes-impacting-business","tag-dallas","tag-dallas-cowboys","tag-dallascowboys","tag-environment","tag-environmental","tag-football","tag-football-american","tag-fraud","tag-hall-county","tag-important-company-events","tag-investment-fraud","tag-judicial-system","tag-las-vegas","tag-life-and-society","tag-litigation","tag-national-football-league","tag-natural-resources","tag-nevada","tag-nfl","tag-north-america","tag-politics-and-government","tag-ponzi-scheme","tag-professional-sports","tag-social-and-governance","tag-sports","tag-structured-content","tag-team-sports","tag-texas","tag-united-states","tag-water-resources"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/posts\/989639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/comments?post=989639"}],"version-history":[{"count":0,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/posts\/989639\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/media\/989640"}],"wp:attachment":[{"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/media?parent=989639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/categories?post=989639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rawchili.com\/nfl\/wp-json\/wp\/v2\/tags?post=989639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}