Navajo Nation investigates alleged loan misuse

Navajo Nation officials are investigating a $2.2 million loan the tribe extended to a company doing business on the reservation.

BCDS Manufacturing Inc., a metal fabricator and military contractor, received the money last year. CEO Hak Ghun said the money was used to buy inventory but official said it was supposed to be used to expand the company's facility in Shiprock, New Mexico.

The Navajo Nation Council's Navajo Nation Budget and Finance Committee, which approved the loan, will conduct the investigation.

Get the Story:
Nation explores loan to Shiprock company (The Farmington Daily Times 6/6)

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