Jury Orders Major U.S. Bank to Pay $826 Million to Seminole Tribe’s Children for Trust Mismanagement
FORT LAUDERDALE, Fla. — In a landmark decision, a Broward County jury has awarded a massive $826 million to the descendants of the Seminole Tribe of Florida. This historic verdict, considered one of the largest in county history, comes after claims that a major American bank mismanaged a tribal trust fund over more than a decade, resulting in subpar returns. The lawsuit centered on the Minors Per Capita Payment Trust, initially set up in 2005 with Wachovia Bank, which later came under the control of Wells Fargo in 2008. The trust, designed to financially benefit … Read more