The Seminole Tribe of Florida has been awarded more than $800 million for trust fund mismanagement.
FT. LAUDERDALE, Fla.—A Broward County, Florida, jury has awarded more than $800 million to the Seminole Tribe of Florida after finding that Wachovia Bank and its new owner, Wells Fargo Bank, charged more than $7 million in unauthorized fees and mishandled a trust fund set up for the tribe's children.
The Florida tribe first set up the Seminole Minors Per Capita Payment Trust in 2005 as it prepared to purchase Hard Rock International, the music-themed chain of restaurants, hotels and casinos.
As the purchase prospered, the tribe set up funds for the tribal children, which they could collect whe...
