Emmitt Smith, a Hall of Fame running back, faces serious accusations involving a lawsuit claiming he conned a Native American investor out of $2.5 million. The case was filed in Delaware on Monday.
The lawsuit describes that Kituwah LLC, which represents the investment branch of the Band of Cherokee Indians, loaned $2.5 million for what was supposed to be a solar project. The venture was pitched by Smith, his partner David Mosley, and their real estate company, 413 Solutions, Inc., according to Front Office Sports.
Kituwah alleges it has not received any return from this investment, which is now more than two years overdue. Additionally, the suit claims the loan funds were used to compensate a different company that previously contributed to the project.
Named Project Exodus, the solar farm venture was presented with assurances of partnership and funding from the U.S. Department of Energy. Kituwah LLC demands at least $2.5 million in damages, including interest, costs, and further amounts deemed appropriate during the trial.
Kituwah stated, “Substantial time, efforts, and resources have been devoted to the supposed joint venture.” Despite its involvement, the firm claims that it has incurred additional costs in attempting to recover its investment and determine the usage of its funds.
Allegations suggest operations were “essentially, like a Ponzi scheme,” highlighting “false projections and data” leading Kituwah to make the loan. They insist the loan repayment was to occur “in a matter of months.” The investigation revealed the funds moved to Wilson Holdings, linked with Smith and other defendants on distinct investments.
Notably, Emmitt Smith holds NFL records, including the all-time rushing record of 18,355 yards, throughout a celebrated career primarily with the Dallas Cowboys. A three-time Super Bowl winner, Smith concluded his career with the Arizona Cardinals after 13 seasons in Dallas.