Business & Finance
Emmitt Smith and business partners sued over alleged $2.5 million solar farm fraud
An economic development entity affiliated with the Cherokee Indians alleges the Pro Football Hall of Famer diverted loan funds to another investor.
The short version
- Kituwah LLC filed a lawsuit in Delaware against Emmitt Smith, business partner David Mosley, and their real estate firm 413 Solutions, Inc.
- The plaintiff alleges it was misled into providing a $2.5 million loan for a solar energy initiative termed Project Exodus.
- The suit claims the borrowed funds were improperly diverted to repay a previous investor rather than funding the project.
- Kituwah LLC is seeking at least $2.5 million in damages, interest, and legal expenses, while the defendants have yet to publicly respond.
Key facts
- Kituwah LLC, an investment arm of the Band of Cherokee Indians, filed a lawsuit in Delaware against former NFL player Emmitt Smith, David Mosley, and 413 Solutions, Inc.[Fox News]
- The lawsuit alleges Kituwah loaned $2.5 million for a solar development called Project Exodus under the belief that it would become a partner and receive U.S. Department of Energy funding.[Fox News]
- The plaintiff asserts the loan is more than two years overdue and that no returns or repayments have been provided.[Fox News]
- Kituwah alleges the defendants used the loan funds to repay Wilson Holdings, an earlier investor connected to the defendants in other ventures.[Fox News]
- The plaintiff is seeking at least $2.5 million in damages alongside interest, legal fees, and investigation expenses.[Fox News]
What remains uncertain
- Emmitt Smith, David Mosley, and 413 Solutions, Inc. have not yet issued a formal legal response or public statement regarding the allegations.[Fox News]