Elk Valley Rancheria warns investors about former partner

The Elk Valley Rancheria of California issued a warning to the public about one of its former partners

The tribe loaned $480,000 to R. Shawn Ellis for a casino resort in Las Vegas. The plans fell through and Ellis and his companies have declared bankruptcy.

Ellis is now starting up a new venture. The tribe says people should think twice about investing with him.

"We want potential investors to understand the full-scope of the R. Shawn Ellis business," Chairman Dale Miller said in a press release.

The tribe says it's owed more than $1 million for the loan, interest and attorney's fees.

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