From the Sioux Falls Argus Leader, it sounds as if a lot of money is inexplicably missing from the Lower Brule Tribe, which is generally viewed as one of the more stable reservations in SD, some of which is for poverty alleviation:
Between 2007 and 2013, an estimated $25 million that was intended for essential services, economic development and the alleviation of poverty was unaccounted. Millions of dollars meant for specific programs were instead diverted to the tribe’s general fund and spent on “unexplained expenditures.” At the same time, the education quality in the tribe’s schools collapsed.
Taxpayers, meanwhile, are on the hook for an additional $22.5 million in the form of a loan guarantee that the Bureau of Indian Affairs extended to a tribal company. Money from the loan guarantee, which was sold to an insurance company, was used for a tribal-owned Wall Street brokerage firm that went bankrupt amid mismanagement and fraud, according to the report.
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