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3:11 pm
Sun October 23, 2011

Tribe Wins Federal Settlement

Tulsa, OK – Osage Nation to get $380M in government settlement

TULSA, Okla. (AP) The Osage Nation of Oklahoma is to get a $380 million payment from the federal government to put an end to drawn out litigation over management of the tribe's holdings.

The Justice Department announced Friday that the settlement was reached on handling of the tribe's trust accounts, land trusts and mineral estate.

The Tulsa World reports that the Justice Department said reaching a settlement was a priority of President Barack Obama's administration.

The federal government will pay the tribe $380 million in compensation for claims of historical losses to its trust funds and interest income as a result of the government's management of trust assets.