Emmitt Smith Sued Over Wind Farm Loan | Dallas Cowboys News

0:00On September 4, NFL legend Emmett Smith is facing a lawsuit from a Native American investment company, Kituwa LLC. They are accusing Smith and his business partners of misusing a $2.5 million loan. This money was supposed to go towards a wind farm project in Texas, but Kituwa claims it was used to pay off an investor from a prior deal. Kituwa, which aims to invest in opportunities for the eastern band of Cherokee Indians, alleges that Smith and his longtime partner, David Mosley, misled them about securing government funding. Their attorneys claim that the funds were paid to another company. Wilson Holdings, without Kituwa's knowledge of what triggered the payment. Describing the situation as similar to a Ponzi scheme, the core of the issue is that Wilson Holdings was only supposed to be repaid after the wind farm project, known as Project Exodus. Secured its own, permanent financing. Kituwa's lawsuit states that Smith and Mosley knew this was wrong, and instead told Kituwa that the money was used for the project acquisition even.

1:02Though it was supposedly delayed, according to the suit, Smith's group never met the requirements for government funding and kept making excuses. Kituwa provided the funds on September 1, 2023, expecting repayment within months, but by December, just a month before the. Project was supposed to be operational. They saw no proof it even existed. The wind farm project was reportedly valued at $396 million, and projected to bring in nearly $14 million in. Net income, its first year. Smith, a pro football hall of famer, holds the NFL's all-time rushing record with 18,355 yards. That's the story for today. Dallas Cowboys News Today, driven by AI. I'm Cory with the Story.