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FRIDAY, SEPTEMBER 28, 2001

After surviving the attacks on the World Trade Center in New York City, Native Nations Securities has fallen to one committed by an employee.

The brokerage firm, started by actress Valerie Red-Horse in 1999, has suspended trading after failing to make a $60 million payment. The firm's chief spokesperson said a rogue employee doctored books, causing the firm to lose money.

The employee came to Native Nations through an acquisition of Freeman Securities. Native Nations is now seeking to undo the merger, said spokesperson Michael Mandelbaum.

Just last week, Red-Horse told Indian Country Today the firm was ready to reopen after September 11's attacks. Some of Native Nations employees evacuated a building near the fallen World Trade Center towers.

Get the Story:
Valerie Red-Horse's Native Nations Halts Trading (Bloomberg News 9/26)

Related Stories:
Native firm ready to re-open after attacks (9/19)