From Deseret News archives:
Ute Tribe sues its former financial advisers
Says they wrongfully claimed energy assets
The lawsuit, filed in U.S. District Court in Denver, names John P. Jurrius, the Jurrius Group and the Jurrius Ogle Group as defendants. In court records, attorneys for the tribe claim Jurrius and his associates "wrongfully and fraudulently" claimed an interest in the tribe's energy businesses: Ute Energy Holdings and Ute Energy.
"Jurrius used (his) position as our adviser, with full access to our books and records, to fraudulently claim assets and revenue that clearly belong to the tribe," said Ute Tribe Business Committee Chairman Curtis R. Cesspooch, in a written statement released after the lawsuit was filed.
"Given the fact that the revenue from the development of these oil and gas resources on our traditional lands is our primary source of income, Jurrius' actions are a direct threat to the tribe's and our families' well-being," said Cesspooch, who ran for office on an anti-Jurrius platform.
The tribe's lawsuit contends that Jurrius and his firms violated the federal Investment Advisers Act of 1940 and Colorado common law by assuming an equity position in the tribe's investments and projects without investing the firms' own capital.
Jurrius and his firms also failed to properly notify the tribe of the firms' intentions to exercise their participation option, in violation of their contract with the tribe, the lawsuit said. The complaint also accuses Jurrius and employees of his firms of misrepresenting themselves as licensed investment advisers and charging for those services, and violating their fiduciary duties by "wantonly misrepresenting" their intent.
The lawsuit, which also asserts claims under the Indian Mineral Development Act of 1982, was filed in Colorado because Jurrius' businesses were based there.
The tribe is seeking to have the court force Jurrius and his firms to give up their interests in tribal businesses and repay the Ute people for any "ill-gotten monies or profits" from dealings deemed by a judge to be "unlawful or fraudulent." The lawsuit also seeks punitive damages.
The Ute Tribe Business Committee accepted Jurrius' verbal offer to resign during an August 2007 presentation he made to the tribal membership. The move was unpopular with some people on the Uintah-Ouray Indian Reservation who still view Jurrius as their financial savior who refilled the tribe's coffers after years of deficits.
Jurrius said this past week that he had yet to be served with a copy the tribe's complaint.
"Because I haven't been served, I really can't comment," Jurrius told the Deseret News. "I'd like to see the complaint, and then I'd be more than happy to talk."
Jurrius spoke from the Salt Lake City office of his latest venture, Native American Resource Partners, which has the stated purpose of helping American Indian tribes develop their oil, gas, and mineral resources.
Contributing: Lezlee E. Whiting
Recent comments
Tribal members have been filling up local papers opinion's section...
No comments?? | Sept. 7, 2008 at 4:23 p.m.
- Teen girl killed in Kaysville crash 1:22 a.m.
- 1A All-state honorable mention 1:19 a.m.
- 2A All-state honorable mention 1:12 a.m.
- 3A All-state honorable mention 1:10 a.m.
- 4A All-state honorable mention 1:02 a.m.
- 5A All-state honorable mention 12:59 a.m.
- HIV study asks BYU biologist to help 12:57 a.m.
- Orem pair getting a rep for crime 12:56 a.m.
- McCoy to resign from Utah Senate 12:55 a.m.
- USU vs. BYU this decade 12:54 a.m.
- 2 citations issued at Y.-U. game
- BYU says Hall incident resolved
- Max Hall: a fixture in rivalry lore
- Witness: Mitchell wanted attention
- 'Grandfamilies' a growing trend
- Mitchell called intelligent, controlling
- MWC '09 season in review
- Jazz win 6th in 7 games
- Daughter: Mitchell fed me my pet
- Jazz ready to be without Harpring
- Hall mouths off about hate of Utah
906 - Cougars beat Utes in overtime
483 - Hall reprimanded by MWC
404 - Max Hall issues apology
387 - Hall's pain reflects self-betrayal
349 - Utes won't respond to Hall
276 - BYU says Hall incident resolved
238 - 2 citations issued at Y.-U. game
161 - BYU is champion of the state
143 - Religion in politics is tiresome
129
My husband was teaching his 6th-grade class in Salt Lake last year when...
so sorry to hear this terrible news..much sincer condolences to the her family.
Time for him to go. PAST time for him to go.
After reading many comments posted on several stories since the incident...
Hey, I was at that Pres. Holland devotional, too. It was the year after the...
Sometimes when we loose we win, but not in this case. Want a future?...
First Meeting Utah, 12—4 (1896) Last Meeting BYU,...
Max Hall's only mistake was hating the sinner instead of the sin. He...
Kind of refreshing isn't it, Lee.
I voted for Morgan for Vice Chair, and I think he would still be worth voting...

