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  • MIL-OSI: K&F Growth Acquisition Corp. II Announces Completion of $287.5 million IPO

    Source: GlobeNewswire (MIL-OSI)

    Each Unit Includes One Class A Ordinary Share and One Share Right to Receive 1/15th of a Class A Ordinary Share

    MANHATTAN BEACH, CA, Feb. 06, 2025 (GLOBE NEWSWIRE) — K&F Growth Acquisition Corp. II (the “Company”), today announced the closing of its initial public offering of 28,750,000 units, at a price of $10.00 per unit, which includes 3,750,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, resulting in gross proceeds of $287,500,000. Each unit consists of one Class A ordinary share and one right (the “Share Right”) to receive one fifteenth of one Class A ordinary share upon the consummation of an initial business combination. There are no warrants issued publicly or privately in connection with this offering. The units are listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “KFIIU” as of February 5, 2025. After the securities comprising the units begin separate trading, the Class A ordinary shares and Share Rights are expected to be listed on Nasdaq under the symbols “KFII” and “KFIIR,” respectively.

    The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but is focused on acquiring a compelling business in the experiential entertainment industry underpinned by strong secular growth, a skilled management team, and that is competitively positioned and capitalized to grow through organic and M&A-driven opportunities.

    The Company’s management team is led by Edward King, its Co-Chief Executive Officer and Co-Chairman, and Daniel Fetters, its Co-Chief Executive Officer, Chief Financial Officer and Co-Chairman. In addition, the Board includes James J. Murren, Joyce Arpin and Geoff Freeman.

    BTIG, LLC is acted as sole book-running manager for the offering.

    The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BTIG, LLC, Attention: 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@btig.com.

    A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 4, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

    Cautionary Note Concerning Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Company Contact:

    K&F Growth Acquisition Corp. II
    1219 Morningside Drive, Suite 110
    Manhattan Beach, CA 90266
    www.kfgrowthcapital.com
    email: contact@kfgrowth.com
    Attention: Daniel Fetters, Co-CEO
    (310) 545-9265

    The MIL Network –

  • MIL-OSI Global: Canadian supply chains are at the epicentre of Trump’s potential trade war

    Source: The Conversation – Canada – By Hassan Wafai, Associate Professor, Faculty of Management, Royal Roads University

    United States President Donald Trump has temporarily halted his trade war with Canada and Mexico, agreeing to pause his proposed tariffs for at least 30 days.

    Regardless of whether Trump will impose the tariffs once the 30 days are up, Canadian supply chains have become the epicentre of these looming disruptions. The country urgently needs to strengthen its supply chain resilience.

    If the tariffs were to go into effect, they would reshape the geo-political ecosystem of North America and beyond by disrupting global supply chains. These supply chains are a direct reflection of the geo-political ecosystem in which they operate, and they require stability to establish and thrive.

    With approximately $3.6 billion in trade crossing the U.S.-Canada border daily, a sweeping 25 per cent tariff on non-energy goods would have catastrophic effects on the Canadian economy, including shaving 2.6 per cent off Canada’s GDP.



    Read more:
    U.S. tariff threat: How it will impact different products and industries

    While the list of affected goods and services would be long, the auto industries are likely to be among the hardest hit sectors. Businesses on both sides of the border would be seriously hurt, including major U.S. automakers General Motors, Ford and Stellantis.

    The outlook is equally bleak for Mexico, where 83 per cent of exports go to the U.S.

    Canadian supply chain resilience

    Trump’s potential trade war represents an unconventional, top-down approach to redesigning North American supply chains, which took decades to establish. His aggressive trade policies are disrupting the status quo with devastating and irreversible effects.

    Canadian supply chains have historically been prone to major disruptions. Past responses to these disruptions have focused on helping firms build resilience. While this is important, insufficient attention has been given to establishing effective provincial and national governance structures to support and guide supply chain resilience.

    There is growing recognition that supply chain resilience should be addressed at the system level. This resilience emerges from both the actions of individual organizations and from the relationships and interactions between them.

    System-level supply chain resilience is influenced by governmental or regulatory bodies that set policies to manage long-term supply risks. These are known as governance structures or mechanisms.

    Canada’s long-term strategic response must go beyond helping Canadian companies integrate into alternative global supply chains outside the U.S. The country must also explore new governance structures that can strengthen the collective resilience of Canadian firms.

    Improving supply chain resilience

    Trump has been a destabilizing force for international trade and free trade agreements, particularly the Canada-United States-Mexico Agreement, which may have a shorter lifespan than initially agreed upon.

    One of the most effective ways for Canada to strengthen its supply chain resilience is to reduce its heavy trade reliance on the U.S., which can be done through free trade agreements. Despite this, Canada has been slow to diversify beyond the U.S., which remains its largest trading partner, accounting for 76 per cent of exports and 64 per cent of imports.



    Read more:
    Trump’s tariff threat is a sign that Canada should be diversifying beyond the U.S.

    Canada is currently part of 15 free trade agreements that collectively cover 61 per cent of the world’s GDP and provide access to 1.5 billion consumers globally. However, it’s not yet clear how free trade agreements can enhance supply chain resilience.

    Canada must look beyond its existing free trade agreements and pursue new markets such as the ASEAN (Association of Southeast Asian Nations) and the Pacific Alliance. Expanding into these regions would allow Canadian companies and supply chains to join global value chains, creating opportunities for knowledge spillovers and productivity boosts.

    As Canada diversifies its trade, it must do so with a supply chain mindset, carefully considering the implications of specific trade policies and how they will enhance the resilience of Canadian supply chains.

    Future free trade agreements should incorporate clear and specific clauses that anticipate disruptions and help with swift supply chain recovery. A prime example of such an agreement is the Indo-Pacific Economic Framework for Prosperity, which came into effect in October 2024.

    Beyond international trade, Canada should also eliminate interprovincial trade barriers to facilitate easier business operations across Canadian provinces and territories.

    Stronger supply chain governance

    More research is needed to determine exactly which governance structures should be put in place to support Canada’s supply chain resilience.

    The Canadian government may need to establish a multi-level governance structure encompassing sectoral, provincial and national levels, such as supply chain councils.

    Supply chain councils could connect supply chains with small and medium-sized enterprises, leverage existing networks, co-ordinate resilience strategies and address supply chain and trade policy issues of national significance.

    With Trump back in the White House, Canada must be prepared to protect its supply chains against an evolving trade war. Whether his policies are driven by his imperialist ideology, a protectionist agenda, border security concerns or the pursuit of more revenue from slapping tariffs on America’s closest allies, the threat to Canadian supply chains is real.

    To withstand these pressures, Canada must build resilience at the systemic level, where top-down governance ensures the private sector can respond quickly and effectively to disruptions. It is never too late to start, but waiting any longer is no longer an option for Canada.

    Juan Navarro is the president and principal researcher of CMX Partnerships, a business and research consultancy that provides advice and conducts studies for companies, institutions, and governments.

    Kimberly Tholl consults for Nexus Insights Consulting Ltd. and is a member of the non-profit Association for Supply Chain Management (ASCM).

    Hassan Wafai does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Canadian supply chains are at the epicentre of Trump’s potential trade war – https://theconversation.com/canadian-supply-chains-are-at-the-epicentre-of-trumps-potential-trade-war-248987

    MIL OSI – Global Reports –

  • MIL-OSI Global: The hidden truth about migrant deaths at the Canada-U.S. border

    Source: The Conversation – Canada – By Julie Young, Canada Research Chair in Critical Border Studies and Associate Professor of Geography and Environment, University of Lethbridge, University of Lethbridge

    The return of Donald Trump as United States president has sparked new security measures along the Canada-U.S. border.

    After Trump threatened to slap tariffs on Canadian imports if irregular migration and illegal drugs were not curtailed, Canadian federal and provincial governments pledged new border enforcement resources. Trump may still go ahead with his tariff threats despite a reprieve.

    Research shows that tighter border policies don’t deter migration. Policing borders pushes migrants into more remote and dangerous crossing points, and difficult crossings lead migrants to rely more heavily on human smuggling operations. One outcome of heightened border security is clearly an increase in human suffering and death.

    Asylum-seekers from Congo cross the border at Roxham Road into Québec in February 2023 in Champlain, N.Y.
    THE CANADIAN PRESS/Ryan Remiorz

    Our work documenting deaths at the Canada-U.S. border shows that irregular crossings have taken the lives of at least 38 people. The actual number of migrant fatalities is likely much higher.

    We’re concerned that additional border security measures will lead to more danger and death for migrants attempting to cross between the two countries. Recent incidents lend weight to these concerns: one migrant died in a car chase with RCMP on Feb. 4, while another nine people were arrested as they tried to cross into Canada in dangerous winter conditions on Feb. 3.

    Crossing the Canada-U.S. border

    People from around the world cross the Canada-U.S. border daily. Most people enter Canada and the United States formally through official ports of entry. Still, some migrants also travel across the border, in both directions, without official permission.

    Because irregular border crossings are hidden by nature, we will never know how many people enter Canada or the U.S. unofficially. Agencies charged with border security track “encounters” and “apprehensions” in the U.S. and the “interception” of asylum-seekers in Canada. But there is no common measurement used to estimate irregular crossing in either country.

    Irregular border crossing cases are affected by policy changes in both countries. In recent years, they appear to have been affected by migrants’ perceptions of American immigration policy and changes to the Canada-U.S. Safe Third Country Agreement.



    Read more:
    Tragedies, not accidents: Tougher Canadian and U.S. border policies will cost more lives

    Death at the border

    Our research identified 15 deaths at the Canada-U.S. border between 2020 and 2023, and another 23 deaths going back to 1989. Given the lack of official records, the actual number is likely higher.

    We filed access-to-information requests on both sides of the border. The RCMP acknowledged just one death in Canada, and the U.S. Customs and Border Protection (CBP) produced no results. Instead, we systematically collected media reports on border deaths and analyzed that data.

    Roughly three-quarters of migrants whose deaths were covered in news reports were travelling towards the U.S. Their remains were mainly recovered on the Canadian side of the border.



    Read more:
    Roxham Road: Asylum seekers won’t just get turned back, they’ll get forced underground — Podcast

    Migrants face a range of dangers when crossing the Canada-U.S. border irregularly, but drowning represents the most significant threat, followed by hypothermia — 23 and six of the 38 recorded deaths, respectively.

    Three people died in encounters with border patrol agents, with two fatally shot on the American side and one dying in a car crash while being chased by Canadian agents.

    An RCMP officer stops people as they enter Canada via Roxham Road near Hemmingford, Que., hours after amendments to the Safe Third Country agreement enabled authorities to turn asylum-seekers away from unofficial border crossings.
    THE CANADIAN PRESS/Graham Hughes

    Invisible deaths

    Our requests for official data on border deaths in both the U.S. and Canada came up empty-handed. After more than a year and the conclusion of an independent complaint investigation into the RCMP’s lack of response to our Canadian request, we were provided with information on one single death. The request filed in the U.S. returned no information.

    Researchers in both countries regularly report frustration with slow processes and a lack of results from such requests.

    This experience led us to believe that border enforcement agencies do not track deaths along the Canada-U.S. border in either country. This is a problem. The public is left in the dark, while potential migrants are not provided with information about the dangers of irregular crossings.

    It is particularly odd that American authorities don’t provide information on deaths at this border, given that deaths along the U.S.-Mexico border are tracked and publicly reported.

    If there’s been a policy decision not to track deaths at the Canada-U.S. border, it reveals a lack of concern and a willingness to obscure the full picture from the public. Both the Canadian and American governments need to change their approach to documenting border deaths, detailing all known cases publicly.

    More death on the horizon

    Trump’s return to the American presidency might lead to an increase in irregular migration between Canada and the U.S. The Canadian government’s move to beef up border security enforcement, in turn, makes it more likely that migrants will perish after choosing dangerous crossing points.

    Even when migrants die amid human smuggling operations, a lot of the responsibility lies with government decisions.

    As Public Safety Canada warned in 2023, more difficult border crossings lead to increased criminality in human smuggling. Government decisions drive people away from safer crossing points and into the influence of criminal organizations.

    The governments of Canada and the United States have a moral obligation to inform the public about deaths — and do everything in their power to prevent further tragedies.

    Julie Young receives funding from the Canada Research Chairs Program.

    Daniel E. Martinez, Dylan Simburger, and Simon Granovsky-Larsen do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. The hidden truth about migrant deaths at the Canada-U.S. border – https://theconversation.com/the-hidden-truth-about-migrant-deaths-at-the-canada-u-s-border-247782

    MIL OSI – Global Reports –

  • MIL-OSI Global: Anti-LGBTQ+ policies harm the health of not only LGBTQ+ people, but all Americans

    Source: The Conversation – USA – By Nathaniel Tran, Assistant Professor of Health Policy and Administration, University of Illinois Chicago

    Courts across the nation are debating whether LGBTQ+ people should be protected from discrimination. Kevin Dietsch/Getty Images

    In 2024, state legislatures introduced an all-time record of 533 bills targeting LGBTQ+ populations. These policies create a patchwork of legal landscapes that vary widely between and within states, affecting aspects of everyday life ranging from how kids learn and play to where adults live and work.

    All of these policies have implications for the health of not only LGBTQ+ people but also the general public.

    I am a health policy researcher who studies how state and federal legislation affect public health. Research has shown that the social determinants of health – the opportunities and resources that affect how people live, learn, play, work and age – play a significant role in LGBTQ+ well-being. Newly published work from my colleagues and I show how anti-LGBTQ+ public policies can have lasting effects on everyone’s health.

    Existing policies and LGBTQ+ health

    Same-sex marriage provides a clear example of the direct and indirect ways public policies affect LGBTQ+ health.

    Most people in the U.S. have health insurance through their employer, which usually offers coverage for employees and their family, including a spouse and children. A landmark 2015 study found that health coverage significantly increased for adults in same-sex marriages after its legalization in New York state. After same-sex marriage was legalized nationwide, a follow-up study also showed an increase in health insurance coverage among gay and lesbian couples.

    Even among single LGBTQ+ people who did not get married, same-sex marriage may have also improved their health by improving social attitudes toward LGBTQ+ people overall. Researchers found that gay and bisexual men, regardless of whether they were single or married, spent less on medical visits, mental health visits and overall health care spending after Massachusetts legalized same-sex marriage in 2004.

    Massachusetts was the first state to legalize same-sex marriage.
    Victoria Arocho/AP Photo

    Access to gender-affirming care provides another example of how public policies affect the health of LGBTQ+ people.

    A 2020 national study of nearly 30,000 transgender and nonbinary people found that suicide attempts and mental health hospitalizations declined in states that passed policies requiring private insurers to equally cover services they already provide for cisgender people for transgender people. No other studies directly analyze how policies regulating access to care affect the health of trans and nonbinary people.

    However, a large body of clinical research supports the health benefits of gender-affirming care. A randomized clinical trial and prospective study found that starting gender-affirming hormone therapy reduced depression and suicidality in transgender and nonbinary people. Several recent systematic reviews analyzing 124 peer-reviewed studies conducted over the past 50 years also found that gender-affirming surgery and hormone therapy improved quality of life and mental health.

    Policies outside health affect LGBTQ+ well-being

    Policies outside of health care – such as nondiscrimination, education and workplace protections – also affect LGBTQ+ well-being.

    For example, transgender and nonbinary people living in states with policies that specifically include gender identity in hate crime and discrimination protections reported better mental health than those in states without protections. Similarly, LGBTQ+ students in schools with designated safe spaces reported lower rates of suicidal thoughts.

    However, the surge in anti-LGBTQ+ policies in the U.S., initially focusing on youth, has significantly increased polarization between and within states. For example, while 17 states have implemented guidances to make schools safer and more inclusive for transgender youth, 25 states have banned transgender youth from using bathrooms and playing on sports teams that align with their gender. Meanwhile, South Dakota and Missouri have enacted laws to preempt progressive schools and districts from adding LGBTQ+ student protections and supportive resources.

    The Trump administration is also actively targeting resources that support LGBTQ+ students by reducing funding to schools that offer these programs.

    Inclusive spaces can help support the health of LGBTQ+ students.
    Jessica Hill/AP Photo

    In 2020, the Supreme Court ruled 6-3 in Bostock v. Clayton County that federal sex-based nondiscrimination protections in the workplace included discrimination based on gender identity and sexual orientation. Researchers found that LGBTQ+ older adults with co-workers supportive of their gender and sexuality experienced less workplace conflict and cognitive health problems compared with those who did not.

    The Trump administration is working to restrict the scope of federal antidiscrimination protections to exclude LGBTQ+ people.

    Harms of emerging anti-LGBTQ policies

    Emerging anti-LGBTQ+ policies could also have consequences for large swaths of the population beyond LGBTQ+ people.

    In 2025, the Supreme Court will hear Braidwood v. Becerra, a case arguing that requiring employers to cover PrEP – a once-a-day pill that is highly effective at preventing HIV infection – as part of the insurance plan they offer employees violates their religious freedom. Texas District Judge Reed O’Connor agreed that mandating PrEP coverage requires the plaintiffs to “facilitate and encourage homosexual behavior.”

    O’Connor ruled in 2023 to overturn the Affordable Care Act’s requirement that insurers fully cover preventive care. He argues this can be done on the grounds that the U.S. Preventive Services Task Force – a group of physicians and researchers that evaluates the quality and efficacy of preventive services – is unconstitutional. This legal challenge puts free coverage of mammograms, vaccinations and other preventive services into limbo for millions of Americans.

    The Trump administration has taken down CDC pages providing information about HIV.

    The Trump administration has scrubbed federal web pages of resources, programs and documents that reference gender and LGBTQ+ people. This order includes removing datasets that have been continuously updated since the 1980s to track public health issues such as homelessness, bullying in schools, and smoking and drinking, likely because they include LGBTQ+ demographic information.

    The administration has also ordered federal health agencies to retract scientific research that may be inclusive of LGBTQ+ people by searching for specific keywords, such as “gender.” The National Science Foundation is also screening active scientific research projects that use words like “women,” “trauma” and “disability.” Removing this data not only hamstrings public health research and programming for LGBTQ+ populations, but also restricts it for all Americans.

    These decisions are in stark contrast to countries such as England, Wales, New Zealand and Australia, which have collected or are planning to collect LGBTQ+ demographic data as part of their national census. Including LGBTQ+ people in demographic data reflects best practices that were outlined in the Federal Evidence Agenda on LGBTQI+ Equity issued under the Biden administration. These guidelines have since been removed.

    Far-reaching consequences

    The rapid escalation of anti-LGBTQ+ policies in recent years is already taking its toll on youth, with negative news coverage of LGBTQ+ issues causing spikes in suicidal thoughts.

    These policies also have far-reaching consequences for the broader public. Rigorous and long-standing research demonstrates that LGBTQ+-inclusive policies support safer communities and stronger economies for everyone, while exclusionary laws worsen and limit access to essential services.

    Ongoing legal battles and policy shifts will shape the future of LGBTQ+ rights, with rippling effects on public health, workplace protections and health care access for all Americans.

    Nathaniel Tran does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Anti-LGBTQ+ policies harm the health of not only LGBTQ+ people, but all Americans – https://theconversation.com/anti-lgbtq-policies-harm-the-health-of-not-only-lgbtq-people-but-all-americans-248992

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: UK project will improve livelihoods and climate resilience of communities in Alta Verapaz and the dry corridor

    Source: United Kingdom – Executive Government & Departments

    A three-year project will provide tools for families in climate sensitive areas to better plan the management of their landscapes and improve well-being of indigenous and ladino communities.

    Edwin Castellanos, Viceministro de Recursos Naturales y Cambio Climático; Juliana Correa, Embajadora del Reino Unido; Jeremy Haggar, Universidad de Greenwich

    The British Ambassador to Guatemala, Juliana Correa, and the Vice Minister of Environment and Climate Change, Edwin Castellanos, attended on 6 February in Chiquimula the launch of workshop for the project “Nature-based solutions for climate resilience of indigenous and local communities in Guatemala”, a UK Official Development Assistance (ODA) programme funded through the Global Centre on Biodiversity for Climate (GCBC) by the Department for Environment, Food and Rural Affairs (Defra) in the United Kingdom.

    The project has a duration of three years and will invest more than US$1million (£847,784) in communities in the Departments of Alta Verapaz and Chiquimula.  Activities on the ground will be implemented by the University of Greenwich, the Tropical Agricultural Research and Higher Education Centre (CATIE), the University of Valle of Guatemala (UVG), and the Federation of Cooperatives of the Verapaces R.L. (FEDECOVERA).

    The project aims to facilitate the integration of traditional and scientific knowledge about nature to plan a more climate-resilient landscape through the implementation of nature-based solutions. It will assess the effectiveness of different reforestation systems and their contribution to climate resilience; support indigenous and local communities to document their understanding of nature’s contribution to their livelihoods; and develop guidelines and tools for the co-design of nature-based solutions for climate resilience and justice at a multi-stakeholder level.

    In Alta Verapaz activities will focus on a high rainfall montane region populated by Q’eqchi’ communities whose main income sources come from cardamom, coffee and timber production. FEDECOVERA represents some 40,000 Q’eqchi’ families supporting their access to Fairtrade, Organic, and Forest Stewardship Council certified markets.

    Interventions in Chiquimula will cover the “dry corridor” populated with Maya Chorti and ladino communities near the border with Honduras and El Salvador. The project will identify with local communities how to improve environmental resilience to flooding and drought that affects traditional and commercial cropping systems. 

    The evidence collected will contribute to building capacity in local and national environmental planning processes, and environmental regulations and incentives adapted to the needs of local communities in Guatemala. Lessons from the application of these processes will be shared to inform climate change planning processes in the country and Central America.

    Juliana Correa, British Ambassador to Guatemala, said:

    A top priority of our Foreign Secretary is to support indigenous peoples’ rights and their role in protecting forests. The UK is committed to provide funding for nature, forests, and forest communities, particularly their livelihoods and their rights to protect that nature.  I’m looking forward to seeing the wider impact of this project in Guatemala.

    Updates to this page

    Published 6 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: WFP Deputy Executive Director calls for urgent action to rebuild Gaza after visit

    Source: World Food Programme

    JERUSALEM/ROME – The United Nations World Food Programme (WFP) Deputy Executive Director Carl Skau appealed today for an increase in international support to boost humanitarian assistance for millions of people in Gaza as they seek to rebuild their lives.

    WFP has sent in more than 15,000 tonnes of food since the ceasefire began on 19 January, reaching more than 525,000 people with food parcels, hot meals and cash. Meeting with families, Skau noted a sense of relief as families are able to reunite and eat together – often amidst the rubble of their homes. With flour and fuel, WFP is now operating 22 bakeries across Gaza and is providing cash so that families can decide for themselves how to meet their most basic needs – beyond food.

    “This is a strong step in the right direction but it is not enough,” said Skau. “The scale of the needs is enormous and progress must be maintained. The ceasefire must hold. We cannot go back. And in critical sectors beyond food – water, sanitation, shelter, even getting children back into school – we need to work together. WFP, with its logistics expertise, is ready to support all efforts.” 

    While it is too early to focus on recovery, Skau noted that it is critical that WFP and the entire humanitarian community assist Gazans to become self-sufficient and boost their long-term resilience against hunger. This may be through helping them re-establish commercial markets and local food systems – from farming and food processing to fishing.

    “The people of Gaza are unique in their strength, resilience and capacity to rebuild. Our assistance should increasingly be geared towards supporting them in their first steps towards rebuilding their lives. But this requires funding,” added Skau. “We call on the international community and all donors to continue supporting WFP’s life-saving assistance at this pivotal moment.”

    During his two-day visit to Gaza, Skau went to Jabalia, Gaza City and Khan Younis where he met families impacted by the conflict, visited WFP operations and met heads of UN agencies. Skau’s previous visit to Northern Gaza was in June 2024. 

    Note to the editor: Broadcast quality footage here.

    #                     #                         #

    The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.

    Follow us on X, formerly Twitter, via @wfp_media 

    MIL OSI United Nations News –

  • MIL-OSI USA: Caspian Sea Regional Brief

    Source: US Energy Information Administration

    Petroleum & Other Liquids

    Crude oil, gasoline, heating oil, diesel, propane, and other liquids including biofuels and natural gas liquids.

    Natural Gas

    Exploration and reserves, storage, imports and exports, production, prices, sales.

    Electricity

    Sales, revenue and prices, power plants, fuel use, stocks, generation, trade, demand & emissions.

    Coal

    Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports.

    Total Energy

    Comprehensive data summaries, comparisons, analysis, and projections integrated across all energy sources.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Alan Wilson says planned ‘mass resistance’ to ICE operations will be met with serious consequencesRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) — It has come to the attention of Attorney General Alan Wilson that an organization is planning a meeting on Saturday, February 8, with the stated goal of organizing a “mass resistance” and forming a “Community ICE Raid Response Network.” While every South Carolinian has the constitutional right to peacefully assemble and express their views, any efforts to obstruct or interfere with law enforcement will have serious consequences. 

    In recent years, South Carolina, along with the rest of the nation, has faced an unprecedented amount of illegal immigration. However, with the new Trump administration in 2025, there is a renewed commitment to ensuring that those who entered the country illegally, especially those who pose a risk to public safety, are deterred and removed. The Attorney General’s Office remains steadfast in its dedication to working with President Donald Trump and enforcing federal immigration laws without interference or obstruction. 

    Recent events serve as a reminder of the dangers associated with unlawful resistance. Just last week, during an anti-deportation protest in Greenville, a demonstrator crashed a vehicle into a crowd, injuring two people. This reckless behavior, which showed a complete disregard for public safety, will not be tolerated. The Attorney General’s Office emphasizes that we cannot, and will not, allow any actions that threaten the safety of our communities, law enforcement officers, or innocent bystanders. 

    Let it be clear: any individual who engages in illegal activities, whether by obstructing law enforcement, interfering with investigations, or attempting to disrupt lawful immigration enforcement efforts, will face prosecution to the fullest extent of the law. 

    Attorney General Wilson urges all parties involved to respect the legal process and act within the bounds of the law. We will continue to collaborate with local and state law enforcement agencies to ensure the safety and security of all South Carolinians. 

    You can read his letter to the Columbia, SC Chapter of the Democratic Socialists of America here.

    MIL OSI USA News –

  • MIL-OSI USA: El Fiscal General Bonta Ofrece Información a Estudiantes y Educadores Sobre la Aplicación de las Leyes de Inmigración en Las Escuelas

    Source: US State of California

    Wednesday, February 5, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    SACRAMENTO — A raíz de las nuevas preocupaciones por la aplicación de las leyes de inmigración en las escuelas, el fiscal general de California, Rob Bonta, destacó hoy información para estudiantes, familias, educadores y funcionarios escolares con el propósito de ayudar a garantizar un entorno escolar seguro para todos. El primer documento ofrece información a los funcionarios escolares sobre cómo responder si un oficial de inmigración se presenta a las instalaciones de sus escuelas. El segundo documento ofrece información y políticas modelo para las escuelas públicas K–12 con el fin de aayudarlas a cumplir con las leyes estatales. El último documento proporciona a los estudiantes inmigrantes y a sus familias información sobre sus derechos educativos y las protecciones que les otorga la ley. Estos recursos pueden encontrarse en varios idiomas en oag.ca.gov/immigrant/resources.

    “Todos los niños tienen el derecho constitucional de acceder a una educación pública, sin importar su estatus migratorio,” señaló el fiscal general Bonta. “Las escuelas deben ser un lugar seguro para que los niños aprendan y crezcan. Lamentablemente, las recientes órdenes del presidente han provocado miedo e incertidumbre en nuestras comunidades de inmigrantes. Mi oficina está comprometida a garantizar que nuestros educadores cuenten con la información necesaria para responder adecuadamente si oficiales de inmigración vienen a su centro escolar, y a que los estudiantes inmigrantes y sus familias entiendan sus derechos y protecciones conforme a la ley. Le pido a los centros escolares que mantengan informada a mi oficina sobre las medidas de control de inmigración que se lleven a cabo en las instalaciones de sus escuelas un correo electrónico a immigration@doj.ca.gov. Seguiremos vigilando de cerca este asunto, y no dudaremos en actuar si creemos que esta aplicación de la ley abusa de la autoridad federal.” 

    Información para funcionarios escolares en caso de que un oficial de inmigración se presente a su escuela

    1. Notifique al administrador designado de la agencia educativa local de la solicitud e informar al oficial de inmigración de que, antes de proceder con la solicitud, y en ausencia de circunstancias apremiantes, debe recibir primero instrucciones del administrador de la agencia educativa local.
    2. Pida ver, y haga una copia o anote, las credenciales del oficial (nombre y número de placa) y el número de teléfono de su supervisor.
    3. Pregúntele al oficial cuál es el motivo de su presencia y pídale que presente la documentación que autorice su ingreso a la escuela. Haga una copia de todos los documentos proporcionados por el oficial.
    4. Si el oficial no declara que existen circunstancias apremiantes, responda de acuerdo con los requisitos de la documentación del oficial.
    5. Si bien no debe dar su consentimiento para el acceso de un oficial de inmigración a menos que declare circunstancias apremiantes o tenga una orden judicial federal, no intente impedírselo físicamente, incluso si parece no tener autorización para entrar. Si un oficial ingresa a las instalaciones sin consentimiento, documente sus acciones mientras está en las instalaciones.
    6. Notifique a los padres o tutores tan pronto como sea posible (a menos que lo impida una orden judicial o citación), y hágalo antes de que un oficial interrogue o retire a un estudiante con fines de aplicación de la ley de inmigración (a menos que se haya presentado una orden judicial).
    7. Proporcione una copia de esas notas, y los documentos asociados recopilados del oficial, al asesor legal de la agencia educativa local, al superintendente u otro administrador designado.
    8. Informe al Departamento de Justicia de California de cualquier intento por parte de un oficial de inmigración de ingresar a un centro escolar o contactar a un estudiante con fines de aplicación de la ley de inmigración enviando un correo electrónico a immigration@doj.ca.gov.

    El documento completo titulado “Referencia rápida para funcionarios escolares” está disponible en inglés y español. 

    Derechos de los estudiantes inmigrantes y sus familias

    • Derecho a una educación pública gratuita: Todos los niños tienen a un acceso igualitario a la educación pública gratuita, independientemente de su estatus migratorio o la de sus padres o tutores, en virtud de la cláusula de igualdad de la Constitución de los Estados Unidos.
    • Información necesaria para la inscripción escolar: Las escuelas deben aceptar una variedad de documentos de los padres o tutores del estudiante para demostrar la edad o residencia del niño y las escuelas no están obligadas a conservar una copia del documento utilizado como prueba de la edad del niño.
    • Confidencialidad de la información personal: Las leyes federales y estatales protegen los registros educativos y la información personal de los estudiantes. Estas leyes generalmente requieren que las escuelas obtengan el consentimiento por escrito de los padres o tutores antes de divulgar información de los estudiantes, a menos que la divulgación de información sea para fines educativos, ya sea pública o sea en respuesta a una orden judicial o citación.
    • Derecho a presentar una queja: Su hijo tiene derecho a denunciar un delito de odio o presentar una queja ante el distrito escolar si es discriminado, acosado, intimidado u hostigado debido a su nacionalidad, etnia o estatus migratorio real o percibido.

    La guía completa para estudiantes y familias está disponible en inglés, español, chino (simplificado), coreano, tagalo y vietnamita.

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: Maine Return Preparer Charged with Preparing False Tax Returns for Clients

    Source: US State of California

    A grand jury returned an indictment yesterday charging a Maine man with preparing false tax returns for clients and scheming to defraud clients, among other crimes.

    According to the indictment, Thierry Musese, a paid return preparer, ran a tax preparation business out of a barbershop he owned and operated in Auburn, Maine. During the 2021 and 2022 tax years, Musese allegedly prepared and filed with the IRS false tax returns on behalf of 17 taxpayers. These tax returns allegedly included false business losses, fuel tax credits and residential energy credits, resulting in tax refunds these clients were not entitled to receive. For the 2023 tax year, Musese allegedly continued to prepare false tax returns for clients even after his electronic filing identification number was revoked by the IRS. According to the indictment, Musese also falsified his own tax returns for 2021 and 2022.

    Musese also allegedly defrauded some of his clients by diverting to himself a portion of their tax refunds without their permission. According to the indictment, he provided these clients with copies of their tax returns that differed from the versions he filed with the IRS.

    Musese will make his initial court appearance before a U.S. Magistrate Judge for the District of Maine at a later date. If convicted, Musese faces up to three years in prison for each count of filing a false tax return and a maximum penalty of up to 20 years in prison for each count of wire fraud. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen Kelly of the Justice Department’s Tax Division and U.S. Attorney Darcie N. McElwee for the District of Maine made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorney Likhitha Butchireddygari of the Tax Division and Assistant U.S. Attorney Daniel Perry for the District of Maine are prosecuting the case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI USA: California CPA Indicted for Filing False Tax Returns

    Source: US State of California

    A grand jury in San Francisco returned an indictment yesterday charging a California man with filing false tax returns with the IRS.

    According to the indictment, Michael M. Gilbert, of San Rafael, filed false tax returns for himself and two business entities he controlled. Gilbert, a Certified Public Accountant since 1985, allegedly underreported the total income his accounting and tax preparation business, M.M. Gilbert & Company Inc. (M.M. Gilbert), received during the years 2017 through 2020. Gilbert allegedly solicited payments from clients of M.M. Gilbert for “tax strategies” and “donations,” among other things, which the clients paid to White Mountain Properties Inc. (White Mountain), another entity Gilbert controlled. Gilbert allegedly did not report these payments as income on White Mountain’s 2017 through 2021 business tax returns. According to the indictment, in 2020 and 2021, Gilbert also transferred more than $5 million from White Mountain to himself and then did not report that income on his individual tax returns.

    Gilbert is scheduled for his initial court appearance on Feb. 19 before U.S. Magistrate Judge Laurel Beeler for the Northern District of California. If convicted, Gilbert faces a maximum penalty of three years in prison for each count of filing a false tax return. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen Kelly of the Justice Department’s Tax Division made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorneys Julia M. Rugg and Patrick Burns of the Tax Division are prosecuting the case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI Security: Jasper County felon guilty of federal firearms and drug trafficking crimes

    Source: Office of United States Attorneys

    BEAUMONT, Texas – A Buna man has been convicted of federal firearms and drug trafficking violations in the Eastern District of Texas, announced Acting U.S. Attorney Abe McGlothin, Jr.

    Leotis Cornelius McMahon, 48, was convicted of being a felon in possession of a firearm and possession of methamphetamine with intent to distribute following a three-day trial before U.S. District Judge Marcia A. Crone on February 5, 2025.

    According to information presented in court, in 2023, law enforcement was investigating McMahon for distributing narcotics within Southeast Texas.  After a prolonged surveillance operation, a traffic stop was conducted on McMahon where he was found to be transporting large amounts of marijuana, cocaine, and nearly a kilogram of “actual” methamphetamine.  After the traffic stop, a search warrant for McMahon’s residence in Buna was obtained and executed.  Law enforcement discovered materials used in the distribution of narcotics as well as four separate firearms, one being an AR style pistol. One of the firearms seized from McMahon’s residence was stolen.

    McMahon was operating what was described as a mobile illegal drug shop.  The amounts of controlled substances, along with the tools used in trafficking such as scales and bags used for distribution, seized from McMahon indicated that he was dealing significant quantities of drugs for profit.

    Further investigation revealed McMahon is a convicted felon and prohibited by federal law from owning or possessing firearms or ammunition.

    McMahon was indicted by a federal grand jury on July 10, 2024.  He faces up to life in federal prison at sentencing. The maximum statutory sentence prescribed by Congress is provided here for information purposes, as the sentencing will be determined by the court based on the advisory sentencing guidelines and other statutory factors.  A sentencing hearing will be scheduled after the completion of a presentence investigation by the U.S. Probation Office.

    This case was prosecuted as part of the joint federal, state, and local Project Safe Neighborhoods (PSN) Program, the centerpiece of the Department of Justice’s violent crime reduction efforts.  PSN is an evidence-based program proven to be effective at reducing violent crime.  Through PSN, a broad spectrum of stakeholders work together to identify the most pressing violent crime problems in the community and develop comprehensive solutions to address them.  As part of this strategy, PSN focuses enforcement efforts on the most violent offenders and partners with locally based prevention and reentry programs for lasting reductions in crime.

    This case was investigated by the Texas Department of Public Safety – Criminal Investigations; Lumberton Police Department; Jasper County Sheriff’s Office; Beaumont Police Department; U.S. Drug Enforcement Administration; and Bureau of Alcohol, Tobacco, Firearms, and Explosives.  This case is being prosecuted by Assistant U.S. Attorneys Jonathan Lee and John B. Ross.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Former Utah Gymnastics Coach Admits to Having a Hidden Camera to Produce Child Sexual Abuse Materials

    Source: Office of United States Attorneys

    SALT LAKE CITY, Utah – A Utah gymnastics coach and owner of USA Gymnastics World pleaded guilty to transportation of a minor with intent to engage in criminal sexual activity.

    Adam Richard Jacobs, 34, of Woods Cross, Utah, was charged by indictment in April 2023. See press release: Utah Gymnastics Coach Arrested on Child Exploitation Charges

    According to court documents and admissions made at the change of plea hearing, Jacobs, beginning on a date unknown and continuing until March 2023, transported a minor from Utah to other states including Florida and Texas as his gymnastics coach. During this time, he placed a hidden camera in the minor’s hotel room and bathroom to produce child sexual abuse materials. Jacobs further admitted that all electronic devices seized pursuant to a search warrant served in March 2023 were used to further participate in the production of child sexual abuse materials.

    As stated in court documents, a USA Gymnastics World employee discovered a hidden camera twice in a unisex restroom at the facility and contacted police. A subsequent investigation recovered approximately 120 video files of victims in the restroom. Approximately 40 videos showed Jacobs setting up the cameras in his home and at USA Gymnastics World.

    Jacobs is scheduled to be sentenced August 14, 2025, at 3:00 p.m. before a U.S. District Court Judge at the Orrin G. Hatch United States District Courthouse in downtown Salt Lake City.

    U.S. Attorney, Trina A. Higgins, of the District of Utah made the announcement.

    The case is being investigated jointly by Homeland Security Investigations (HSI), Woods Cross Police Department, the Utah Attorney General’s Office Internet Crimes Against Children Task Force, Kaysville Police Department, Clearfield Police Department, the United States Secret Service, and the Davis County Attorney’s Office.

    Special Assistant United States Attorney Carl Hollan and Assistant United States Attorney Carol Dain of the U.S. Attorney’s Office for the District of Utah are prosecuting the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit https://www.justice.gov/psc.

    MIL Security OSI –

  • MIL-OSI Security: Eleven Members And Associates Of Paterson Based Gang Known As “100k” Indicted For Racketeering For Their Roles In A Murder, Three Shootings, Two Robberies, Drug Trafficking Activities, Bank Fraud, And Other Crimes

    Source: Office of United States Attorneys

    NEWARK, N.J. – Eleven members of the Paterson based neighborhood street gang known as “100k” were indicted for their roles in a violent racketeering conspiracy, Acting U.S. Attorney Vikas Khanna announced today.

    The Indictment charges Jasun Allah, a/k/a “Rackz,” 21, of Paterson (“J.Allah”); Christopher Thomas, a/k/a “CJ,” 27, of Hackensack; Michael Davis, a/k/a “Baby 3,” 27, of Paterson; Jazmeir Reyes, a/k/a “Baby Joe,” a/k/a “Joe,” 19, of Paterson; Kyzeik Robinson, a/k/a “Doo Doo,” a/k/a “King Sparks,” a/k/a “Sparks,” 19, of Paterson; Jacim Pitts, a/k/a “Jefe,” 24, of Paterson; Born Allah, a/k/a “Freedom,” 23, of Paterson (“B.Allah”); Elijah Rubio, a/k/a “Lottery,” 20, of Paterson; Trasean Short, a/k/a “Hound,” 19, of Elmwood Park; Elijah Byrd, a/k/a “CEO,” 19, of Paterson; and Quincy Franklin, a/k/a “Double O,” 27, of Paterson with one count of conspiracy to violate the Racketeer Influenced Corrupt Organizations statute (“RICO”), in violation of Title 18, United States Code, Section 1962(d) (“RICO conspiracy”). The Indictment also incorporates charges connected to a drug conspiracy involving Reyes, Davis, Robinson, and Pitts and the attempted armed robbery of a postal inspector by Reyes, which were previously charged on complaint.

    These charges are the result of a long-running investigation coordinated between the Bureau of Alcohol, Tobacco, Firearms and Explosives, the New Jersey State Police, the United States Postal Inspection Service, and the Passaic County Sheriff’s Office, among other law enforcement agencies.

    According to documents filed in this case and statements made in court:

    J.Allah, Thomas, Davis, Reyes, Robinson, Pitts, B.Allah, Rubio, Short, Byrd, and Franklin are all members and associates of the neighborhood based street gang known as “100k,” which operates in the area of North Main Street and Jefferson Street in Paterson, New Jersey (the “100k Enterprise”).  Since in or around January 2022, these members and associates of the 100k Enterprise have engaged in numerous criminal acts in furtherance of their gang, including murder, shootings, robberies, drug trafficking, and bank and wire fraud.

    Since the gangs founding in 2016, members and associates of the 100k Enterprise have engaged in acts of violence against members of rival gangs, such as their primary rival, “the Blockboyz,” which operates out of the Presidential Tower Housing Complex in Paterson, among other rival gangs, such as “4k,” which operates in the area of Rosa Parks Boulevard near Lyon Street, Keen Street, and Mercer Street, also in Paterson.

    Several of these acts of violence are charged in the Superseding Indictment. Specifically, on or about October 1, 2023, in retaliation for the death of a high ranking member of the 100k Enterprise, J.Allah, Thomas, Davis, and other members and associates of the 100k Enterprise shot and killed Victim-2, in territory controlled by the Blockboyz.

    On or about May 27, 2024, Pitts and other members and associates of the 100k Enterprise shot and injured Victim-3, a member of the rival gang “4k.”

    On or about October 3, 2024, Short exchanged fire with Victim-4 in territory controlled by the 100k Enterprise. Weeks later, on or about November 17, 2024, Short shot and injured Victim-5, a member of the Blockboyz, in territory controlled by the Blockboyz, and Byrd acted as the driver in that November shooting.

    The defendants raised money for themselves and the 100k Enterprise by engaging in robberies, drug trafficking, and bank fraud and other financial schemes. Two such robberies are charged in the Indictment, including the armed robbery of a commercial marijuana store on or about January 13, 2022 by Reyes, B.Allah, Short, Rubio, and others; and the attempted armed robbery of Victim-1, a United States Postal Service employee, on or about July 28, 2023 by Reyes, who tried to obtain an arrow key from the victim. This arrow key would have allowed members of the 100k Enterprise to gain access to United States Postal Service mailboxes within a certain geographic area or postal route.

    The gang’s drug trafficking activities were extensive, with investigators conducting 16 controlled buys with Reyes, Robinson, Davis, and Pitts by utilizing undercover officers and observing countless more drug deals committed by the defendants within and around the territory of Paterson controlled by the 100k Enterprise through physical surveillance and review of cell phone records and social media accounts controlled by the defendants.  

    The charge of RICO conspiracy in the Indictment carries a maximum statutory penalty of life in prison as to J.Allah, Thomas, and Davis, and a maximum statutory penalty of 20 years in prison as to Reyes, Robinson, Pitts, B.Allah, Rubio, Short, Byrd, and Franklin.

    The count of conspiracy to distribute controlled substances charged in the Indictment against Reyes, Robinson, Davis, and Pitts carries a mandatory minimum term of 5 years in prison and a maximum penalty of 40 years in prison and a fine of at least $5 million. On each of the counts of distribution and possession with intent to distribute controlled substances, Reyes, Robinson, Davis, and Pitts face a maximum penalty of 20 years in prison and a maximum fine of $1 million.

    On each of the counts of attempted Hobbs Act robbery and assaulting or impeding certain United States officers or employees, Reyes faces a maximum penalty of 20 years’ imprisonment and up to a $250,000 fine, or twice the gain or loss from the offense, whichever is greatest. On the count of brandishing a firearm in connection with a crime of violence, Reyes faces a mandatory minimum term of 7 years and a maximum term of life imprisonment, which must run consecutively to any other prison sentence imposed, and a fine of up to $250,000.  

    Acting U.S. Attorney Khanna credited law enforcement members with the Bureau of Alcohol, Tobacco, Firearms and Explosives, Newark Field Division, under the direction of Special Agent in Charge L.C. Cheeks, Jr.; the New Jersey State Police, Gangs and Organized Crime North Unit, under the direction of Col. Patrick J. Callahan; the United States Postal Inspection Service, under the direction of Inspector in Charge Christopher Nielsen; the Passaic County Sheriff’s Office, under the direction of Sheriff Thomas Adamo; the Paterson Police Department, under the direction of Officer In Charge Patrick Murray; the Bergen County Sheriff’s Office under the direction of Sheriff Anthony Cureton; the Passaic County Prosecutor’s Office under the direction of Prosecutor Camelia Valdes; and the Bergen County Prosecutor’s Office under the direction of Prosecutor Mark Musella with the investigation leading to today’s charges.

    This case is part of the Paterson Violent Crime Initiative (VCI), which was formed in 2020 by the U.S. Attorney’s Office for the District of New Jersey, the Passaic County Prosecutor’s Office, and the City of Paterson’s Department of Public Safety for the purpose of combatting violent crime in and around Paterson. As part of this partnership, federal, state, county, and city agencies collaborate and pool resources to prosecute violent offenders who endanger the safety of the community. The VCI is composed of the U.S. Attorney’s Office, the FBI, the ATF, the Drug Enforcement Administration, the U.S. Marshals, the Paterson Department of Public Safety, the Paterson Police Department, the Passaic County Prosecutor’s Office, the Passaic County Sheriff’s Office, N.J. State Parole, Bergen County Jail, N.J. State Police Regional Operations and Intelligence Center/Real Time Crime Center, and N.J. Department of Corrections.

    The government is represented by Assistant U.S. Attorney Jake A. Nasar of the Criminal Division in Newark.
     

    MIL Security OSI –

  • MIL-OSI: Glen Burnie Bancorp Announces Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    GLEN BURNIE, Md., Feb. 06, 2025 (GLOBE NEWSWIRE) — Glen Burnie Bancorp (“Bancorp”) (NASDAQ: GLBZ), the bank holding company for The Bank of Glen Burnie (“Bank”), announced today net loss of $39,000, or -$0.01 per basic and diluted common share, for the three-month period ended December 31, 2024, compared to net income of $167,000, or $0.06 per basic and diluted common share, for the three-month period ended December 31, 2023. Bancorp reported a net loss of $112,000, or -$0.04 per basic and diluted common share, for the twelve-month period ended December 31, 2024, compared to net income of $1.4 million, or $0.50 per basic and diluted common share, for the same period in 2023. On December 31, 2024, Bancorp had total assets of $358.9 million. Bancorp is the oldest independent commercial bank in Anne Arundel County.

    “Our financial performance in 2024 is disappointing and represents the challenges inherent in navigating the interest rate environment of the last several years. The Company’s focus on generating additional interest-earning assets at higher current market interest rates and rebuilding our base of core, low-cost deposits was moderately successful,” said Mark C. Hanna, President, and Chief Executive Officer. “Despite the challenges of declining net interest income, the Company’s financial strength is reflected in a strong capital position, available liquidity, and prudent expense management. Although interest expense increased significantly in year over year comparisons, loan growth of $28.9 million and higher yields on earning assets contributed to expanded interest income that partially offset higher interest expense and helped mitigate margin compression.”

    In closing, Mr. Hanna added, “To invest in strategic opportunities that will benefit the long-term performance of the Bank, the difficult decision was made to change the longstanding practice of approving quarterly cash dividends for shareholders. As the Bank evaluates our next 75 years, we are committed to our business model and the economic strength of the communities we serve. To better serve the evolving needs of our clients, there is a need to reinvest in our people, technology, products, and facilities. Based on our capital levels, conservative underwriting policies, on- and off-balance sheet liquidity, strong loan diversification, and current economic conditions within the markets we serve, management expects to navigate the uncertainties and remain well-capitalized. Our focus remains continued execution on our strategic priorities to generate organic loan and deposit growth.”

    Highlights for the Quarter and Year ended December 31, 2024

    Despite growth in loans and deposits for the twelve-month period ending December 31, 2024, net interest income decreased $1.2 million, or 9.84% to $10.9 million through December 31, 2024, as compared to $12.1 million during the same period of 2023. The decrease resulted primarily from a $3.1 million increase in interest expenses, offset by a $1.9 million increase in interest and fees on loans. The $2.0 million increase in interest on deposits was driven by the higher cost of money market deposit balances. The $1.0 million increase in interest on borrowings was driven by a $20.1 million increase in the average balance of borrowed funds due to the elevated level of deposit runoff that occurred in 2023.

    Total interest income increased $1.9 million to $15.2 million for the twelve-month period ending December 31, 2024, compared to the same period in 2023 as the result of a $1.9 million increase in interest and fees on loans. The increase in interest income was driven by rate adjustments on loans offerings consistent with the higher interest rate environment. However, loan pricing pressure/competition will continue to place pressure on the Company’s net interest margin.

    The Company expects that its strong liquidity and capital positions, along with the Bank’s total regulatory capital to risk weighted assets of 16.40% on December 31, 2024, compared to 18.40% for the same period of 2023, will provide ample capacity for future growth.

    Return on average assets for the three-month period ended December 31, 2024, was -0.04%, compared to 0.19% for the three-month period ended December 31, 2023. Return on average equity for the three-month period ended December 31, 2024, was -0.75%, compared to 4.65% for the three-month period ended December 31, 2023. Lower net income and higher average balances drove the lower return on average assets and the lower return on average equity.

    The cost of funds was 1.38% for the quarter ended December 31, 2024, compared to 0.64% for the quarter ended December 31, 2023. The 0.74% increase was primarily driven by the increase in the cost of money market deposits and borrowed funds.

    The book value per share of Bancorp’s common stock was $6.14 on December 31, 2024, compared to $6.70 per share on December 31, 2023. The decrease was primarily due to the increase in unrealized losses on available for sale securities caused by higher market interest rates.

    On December 31, 2024, the Bank remained above all “well-capitalized” regulatory requirement levels. The Bank’s tier 1 risk-based capital ratio was approximately 15.15% on December 31, 2024, compared to 17.37% on December 31, 2023. Liquidity remained strong due to managed cash and cash equivalents, borrowing lines with the FHLB of Atlanta, the Federal Reserve and correspondent banks, and the size and composition of the bond portfolio.

    Balance Sheet Review

    Total assets were $358.9 million on December 31, 2024, an increase of $7.1 million or 2.03%, from $351.8 million on December 31, 2023. Investment securities decreased by $31.5 million or 22.58%, to $107.9 million as of December 31, 2024, compared to $139.4 million for the same period of 2023. Loans, net of deferred fees and costs, were $205.2 million on December 31, 2024, an increase of $28.9 million or 16.40%, from $176.3 million on December 31, 2023. Cash and cash equivalents increased $9.2 million or 60.51%, from $15.2 million on December 31, 2023, to $24.4 million on December 31, 2024.

    Total deposits were $309.2 million on December 31, 2024, an increase of $9.1 million or 3.04%, from $300.1 million on December 31, 2023. Noninterest-bearing deposits were $100.7 million on December 31, 2024, a decrease of $16.2 million or 13.83%, from $116.9 million on December 31, 2023. Interest-bearing deposits were $208.4 million on December 31, 2024, an increase of $25.3 million or 13.81%, from $183.1 million on December 31, 2023. Total borrowings were $30.0 million on December 31, 2024, unchanged from December 31, 2023.

    As of December 31, 2024, total stockholders’ equity was $17.8 million (4.96% of total assets), equivalent to a book value of $6.14 per common share. Total stockholders’ equity on December 31, 2023, was $19.3 million (5.49% of total assets), equivalent to a book value of $6.70 per common share. The decrease in the ratio of stockholders’ equity to total assets was primarily due to the $1.5 million decline in net earnings for the year ended December 31, 2024 compared to the prior year, the $0.6 million after-tax increase in market value loss on the Company’s available-for-sale securities portfolio and a $7.1 million increase in total assets. The increase in unrealized losses primarily resulted from increasing market interest rates year-over-year, which decreased the fair value of the investment securities.

    Asset quality, which has trended within a narrow range over the past several years, remained sound on December 31, 2024. Nonperforming assets, which consist of nonaccrual loans, loans to borrowers experiencing financial difficulty, accruing loans past due 90 days or more, and other real estate owned (“OREO”), represented 0.10% of total assets on December 31, 2024, compared to 0.15% on December 31, 2023. The $7.1 million increase in total assets from December 31, 2023, to December 31, 2024, and the $167,000 decrease in nonperforming assets drove the 0.05% decline. The allowance for credit losses on loans was $2.8 million, or 1.38% of total loans, as of December 31, 2024, compared to $2.2 million, or 1.22% of total loans, as of December 31, 2023. The allowance for credit losses for unfunded commitments was $584,000 as of December 31, 2024, compared to $473,000 as of December 31, 2023.

    Review of Financial Results

    For the three-month periods ended December 31, 2024, and 2023

    Net loss for the three-month period ended December 31, 2024, was $39,000, compared to net income of $167,000 for the three-month period ended December 31, 2023.

    Net interest income for the three-month period ended December 31, 2024, totaled $2.8 million, a decrease of $128,000 from the three-month period ended December 31, 2023. Despite a $520,000 increase in interest income, the decrease in net interest income was primarily due to a $648,000 increase in interest expenses predominantly related to the advantage money market deposit product.

    Net interest margin for the three-month period ended December 31, 2024, was 2.98%, compared to 3.17% for the same period of 2023. Higher average yields and balances on interest-earning assets combined with higher average interest-bearing funds, lower average noninterest-bearing funds, and higher cost of funds were the primary drivers of year-over-year results.

    The average balance of interest-earning assets increased $7.1 million while the yield increased 0.50% from 3.77% to 4.27%, when comparing the three-month periods ending December 31, 2023, and 2024, respectively. The average balance of interest-bearing funds increased $28.9 million, the average balance of noninterest-bearing funds decreased $21.3 million, and the cost of funds increased 0.74%, when comparing the three-month periods ending December 31, 2023, and 2024, respectively.

    The average balance of interest-bearing deposits in banks and investment securities decreased $22.1 million from $185.9 million to $163.8 million for the fourth quarter of 2024, compared to the same period of 2023 while the yield increased 0.01% from 2.68% to 2.69% during that same period.

    Average loan balances increased $29.2 million to $204.7 million for the three-month period ended December 31, 2024, compared to $175.5 million for the same period of 2023, while the yield increased from 4.96% to 5.54% during that same period. The increase in loan yields for the fourth quarter of 2024 reflected continued runoff of the low-yielding indirect automobile loan portfolio and new loan originations at higher yields.

    The provision of allowance for credit loss on loans for the three-month period ended December 31, 2024, was $71,000, compared to $103,000 for the same period of 2023.

    Noninterest income for the three-month period ended December 31, 2024, was $332,000, compared to $299,000 for the three-month period ended December 31, 2023, an increase of $33,000 or 11.04%. The increase was primarily driven by a $31,000 casualty gain due to insurance proceeds exceeding the book value of assets destroyed by water damage.

    For the three-month period ended December 31, 2024, noninterest expense was $3.1 million, compared to $2.9 million for the three-month period ended December 31, 2023, an increase of $171,000 or 5.82%. The primary contributors to the $171,000 increase, when compared to the three-month period ended December 31, 2023, were increases in salary and employee benefits, legal, accounting, and other professional fees, data processing and item processing services and other expenses.

    For the twelve-month periods ended December 31, 2024, and 2023

    Net loss for the twelve-month period ended December 31, 2024, was $112,000, compared to net income of $1.4 million for the twelve-month period ended December 31, 2023.

    Net interest income for the twelve-month period ended December 31, 2024, totaled $10.9 million, a decrease of $1.2 million from $12.1 million for the twelve-month period ended December 31, 2023. The decrease in net interest income was primarily due to a $3.1 million increase in interest expenses related to growth of the advantage money market deposit product balances and short-term borrowings necessitated by the deposit runoff during 2023, offset by $1.9 million higher interest and fees on loans.

    Net interest margin for the twelve-month period ended December 31, 2024, was 2.98%, compared to 3.31% for the same period of 2023. Higher average yields and lower average balances of interest-earning assets combined with higher average interest-bearing funds, lower average noninterest-bearing funds, and higher cost of funds were the primary drivers of year-over-year results.

    The average balance of interest-earning assets decreased $252,000, while the yield increased 0.52% from 3.63% to 4.15%, when comparing the twelve-month periods ending December 31, 2023, and 2024, respectively. The average balance of interest-bearing funds increased $20.2 million, the average balance of noninterest-bearing funds decreased $20.3 million, and the cost of funds increased 0.90%, when comparing the twelve-month periods ending December 31, 2023, and 2024, respectively.

    The average balance of interest-bearing deposits in banks and investment securities decreased $13.1 million from $187.4 million to $174.3 million for the twelve-month period ending December 31, 2024, compared to the same period of 2023. The yield increased 0.16% from 2.55% to 2.71% during that same period. The increase in yields for the twelve-month period can be attributed to the change in the mix of cash balances held in interest-bearing deposits in banks and investment securities available for sale and increases in the overnight federal funds rate between the years.

    Average loan balances increased $12.8 million to $192.6 million for the twelve-month period ended December 31, 2024, compared to $179.8 million for the same period of 2023. The yield increased 0.69% from 4.76% to 5.45% during that same period. The increase in loan yields for the twelve-month period ending December 31, 2024, reflected continued runoff of the low-yielding indirect automobile loan portfolio and new loan originations at higher yields.

    The Company recorded a provision of allowance for credit loss on loans of $844,000 for the twelve-month period ending December 31, 2024, compared to $96,000 for the same period in 2023. The $748,000 increase in the provision in 2024 compared to 2023, primarily reflects a $61,000 increase in net charge offs, a $28.2 million increase in the reservable balance of the loan portfolio and a 0.16% increase in the current expected credit loss percentage. As a result, the allowance for credit loss on loans was $2.8 million on December 31, 2024, representing 1.38% of total loans, compared to $2.2 million, or 1.22% of total loans on December 31, 2023.

    Noninterest income for the twelve-month period ended December 31, 2024, was $1.2 million, compared to $1.1 million for the twelve-month period ended December 31, 2023, an increase of $57,000 or 5.20%. The increase was driven primarily by a $52,000 increase in other fees and commissions which included a $31,000 casualty gain due to insurance proceeds exceeding the book value of assets destroyed by water damage.

    For the twelve-month period ended December 31, 2024, noninterest expense was $11.9 million, compared to $11.6 million for the twelve-month period ended December 31, 2023. The primary contributors to the $253,000 increase when compared to the twelve-month period ended December 31, 2023, were increases in legal, accounting, and other professional fees, occupancy and equipment expenses, and other expenses which included the allowance for unfunded commitments, partially offset by decreases in salary and employee benefits costs.

    Glen Burnie Bancorp Information

    Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally owned community bank with seven branch offices serving Anne Arundel County. The Bank is engaged in the commercial and retail banking business including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships, and corporations. The Bank’s real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. The Bank also originates automobile loans through arrangements with local automobile dealers. Additional information is available at www.thebankofglenburnie.com.

    Forward-Looking Statements

    The statements contained herein that are not historical financial information may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, which could cause the company’s actual results in the future to differ materially from its historical results and those presently anticipated or projected. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. For a more complete discussion of these and other risk factors, please see the company’s reports filed with the Securities and Exchange Commission.

             
    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
    (dollars in thousands)
               
               
      December 31,   September 30,   December 31,
      2024   2024   2023
      (unaudited)   (unaudited)   (audited)
    ASSETS          
    Cash and due from banks $ 2,012     $ 2,255     $ 1,940  
    Interest-bearing deposits in other financial institutions   22,452       20,207       13,301  
    Total Cash and Cash Equivalents   24,464       22,462       15,241  
               
    Investment securities available for sale, at fair value   107,949       119,958       139,427  
    Restricted equity securities, at cost   1,671       246       1,217  
               
    Loans, net of deferred fees and costs   205,219       206,975       176,307  
    Less: Allowance for credit losses   (2,839 )     (2,748 )     (2,157 )
    Loans, net   202,380       204,227       174,150  
               
    Premises and equipment, net   2,630       2,723       3,046  
    Bank owned life insurance   8,834       8,789       8,657  
    Deferred tax assets, net   8,548       6,879       7,897  
    Accrued interest receivable   1,345       1,478       1,192  
    Accrued taxes receivable   148       497       121  
    Prepaid expenses   471       486       475  
    Other assets   516       614       390  
    Total Assets $ 358,956     $ 368,359     $ 351,813  
               
    LIABILITIES          
    Noninterest-bearing deposits $ 100,747     $ 115,938     $ 116,922  
    Interest-bearing deposits   208,442       198,335       183,145  
    Total Deposits   309,189       314,273       300,067  
               
    Short-term borrowings   30,000       30,000       30,000  
    Defined pension liability   330       329       324  
    Accrued expenses and other liabilities   1,620       2,597       2,097  
    Total Liabilities   341,139       347,199       332,488  
               
    STOCKHOLDERS’ EQUITY          
    Common stock, par value $1, authorized 15,000,000 shares, issued and outstanding 2,900,681; 2,900,681; 2,882,627; shares as of December 31, 2024, September 30, 2024, and December 31, 2023 respectively.   2,901       2,901       2,883  
    Additional paid-in capital   11,037       11,037       10,964  
    Retained earnings   22,882       22,921       23,859  
    Accumulated other comprehensive loss   (19,003 )     (15,699 )     (18,381 )
    Total Stockholders’ Equity   17,817       21,160       19,325  
    Total Liabilities and Stockholders’ Equity $ 358,956     $ 368,359     $ 351,813  
               
    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF INCOME
    (dollars in thousands, except per share amounts)
    (unaudited)
                     
         Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
          2024       2023       2024       2023  
    Interest income                                
    Interest and fees on loans   $ 2,851     $ 2,192     $ 10,498     $ 8,559  
    Interest and dividends on securities     773       1,082       3,379       4,147  
    Interest on deposits with banks and federal funds sold     332       162       1,335       631  
    Total Interest Income     3,956       3,436       15,212       13,337  
                                     
    Interest expense                                
    Interest on deposits     818       176       2,533       513  
    Interest on short-term borrowings     375       369       1,738       689  
    Total Interest Expense     1,193       545       4,271       1,202  
                                     
    Net Interest Income     2,763       2,891       10,941       12,135  
    Provision of credit loss allowance     71       103       844       96  
    Net interest income after release of credit loss provision     2,692       2,788       10,097       12,039  
                                     
    Noninterest income                                
    Service charges on deposit accounts     42       39       150       159  
    Other fees and commissions     245       217       829       777  
    Income on life insurance     45       43       178       164  
    Total Noninterest Income     332       299       1,157       1,100  
                                     
    Noninterest expenses                                
    Salary and employee benefits     1,708       1,621       6,580       6,710  
    Occupancy and equipment expenses     330       339       1,325       1,294  
    Legal, accounting and other professional fees     346       301       1,115       993  
    Data processing and item processing services     260       250       1,016       1,005  
    FDIC insurance costs     42       40       161       163  
    Advertising and marketing related expenses     29       25       117       97  
    Loan collection costs     13       8       25       22  
    Telephone costs     44       39       154       151  
    Other expenses     346       324       1,398       1,203  
    Total Noninterest Expenses     3,118       2,947       11,891       11,638  
                                     
    (Loss) income before income taxes     (94 )     140       (637 )     1,501  
    Income tax (benefit) expense     (55 )     (27 )     (525 )     72  
                                     
    Net income (loss)   $ (39 )   $ 167     $ (112 )   $ 1,429  
                                     
    Basic and diluted net income (loss) per common share   $ (0.01 )   $ 0.06     $ (0.04 )   $ 0.50  
                                     
    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY
    For the twelve months ended December 31, 2024 and 2023
    (dollars in thousands)
    (unaudited)
                       
                  Accumulated    
          Additional       Other   Total
      Common   Paid-in   Retained   Comprehensive   Stockholders’
      Stock   Capital   Earnings   (Loss) Income   Equity
    Balance, December 31, 2022 $ 2,865     $ 10,862     $ 23,579     $ (21,252 )   $ 16,054  
                                           
    Net income   –       –       1,429       –       1,429  
    Cash dividends, $0.40 per share   –       –       (1,149 )     –       (1,149 )
    Dividends reinvested under dividend reinvestment plan   18       102       –       –       120  
    Other comprehensive income   –       –       –       2,871       2,871  
    Balance, December 31, 2023 $ 2,883     $ 10,964     $ 23,859     $ (18,381 )   $ 19,325  
                                           
                                           
                              Accumulated
    		        
              Additional
    		           Other
    		   Total
      Common
    		  Paid-in
    		   Retained
    		   Comprehensive
    		   Stockholders’
      Stock
    		   Capital
    		   Earnings
    		   Loss
    		   Equity
    Balance, December 31, 2023 $ 2,883     $ 10,964     $ 23,859     $ (18,381 )   $ 19,325  
                                           
    Net loss   –       –       (112 )     –       (112 )
    Cash dividends, $0.30 per share   –       –       (865 )     –       (865 )
    Dividends reinvested under dividend reinvestment plan   18       73       –       –       91  
    Other comprehensive loss   –       –       –       (622 )     (622 )
    Balance, December 31, 2024 $ 2,901     $ 11,037     $ 22,882     $ (19,003 )   $ 17,817  
                                           
    THE BANK OF GLEN BURNIE
    CAPITAL RATIOS
    (dollars in thousands)
    (unaudited)
                     
                  To Be Well
                  Capitalized Under
            To Be Considered   Prompt Corrective
            Adequately Capitalized Action Provisions
      Amount Ratio   Amount Ratio   Amount Ratio
    As of December 31, 2024:                
    Common Equity Tier 1 Capital $ 36,481 15.15 %   $ 10,837 4.50 %   $ 15,653 6.50 %
    Total Risk-Based Capital $ 39,496 16.40 %   $ 19,265 8.00 %   $ 24,082 10.00 %
    Tier 1 Risk-Based Capital $ 36,481 15.15 %   $ 14,449 6.00 %   $ 19,265 8.00 %
    Tier 1 Leverage $ 36,481 9.97 %   $ 14,640 4.00 %   $ 18,300 5.00 %
                     
    As of September 30, 2024:                
    Common Equity Tier 1 Capital $ 36,755 15.47 %   $ 10,691 4.50 %   $ 15,443 6.50 %
    Total Risk-Based Capital $ 39,729 16.72 %   $ 19,006 8.00 %   $ 23,758 10.00 %
    Tier 1 Risk-Based Capital $ 36,755 15.47 %   $ 14,255 6.00 %   $ 19,006 8.00 %
    Tier 1 Leverage $ 36,755 10.11 %   $ 14,539 4.00 %   $ 18,173 5.00 %
                     
    As of December 31, 2023:                
    Common Equity Tier 1 Capital $ 37,975 17.37 %   $ 9,840 4.50 %   $ 14,213 6.50 %
    Total Risk-Based Capital $ 40,237 18.40 %   $ 17,493 8.00 %   $ 21,867 10.00 %
    Tier 1 Risk-Based Capital $ 37,975 17.37 %   $ 13,120 6.00 %   $ 17,493 8.00 %
    Tier 1 Leverage $ 37,975 10.76 %   $ 14,113 4.00 %   $ 17,641 5.00 %
                     
    GLEN BURNIE BANCORP AND SUBSIDIARY
    SELECTED FINANCIAL DATA
    (dollars in thousands, except per share amounts)
                         
                         
        Three Months Ended   Twelve Months Ended
        December 31 September 30 December 31 December 31   December 31
        2024   2024   2023   2024   2023
        (unaudited)   (unaudited)   (unaudited)   (unaudited)   (audited)
                         
    Financial Data                    
    Assets   $ 358,956     $ 368,359     $ 351,813     $ 358,956     $ 351,813  
    Investment securities     107,949       119,958       139,427       107,949       139,427  
    Loans, (net of deferred fees & costs)   205,219       206,975       176,307       205,219       176,307  
    Allowance for loan losses     2,839       2,748       2,157       2,839       2,157  
    Deposits     309,189       314,273       300,067       309,189       300,067  
    Borrowings     30,000       30,000       30,000       30,000       30,000  
    Stockholders’ equity     17,817       21,160       19,325       17,817       19,325  
    Net income     (39 )     129       167       (112 )     1,429  
                         
    Average Balances                    
    Assets   $ 366,888     $ 364,127     $ 353,085     $ 363,994     $ 361,731  
    Investment securities     136,868       142,972       174,581       148,037       173,902  
    Loans, (net of deferred fees & costs)   204,703       203,316       175,456       192,646       179,790  
    Deposits     314,046       312,019       310,168       309,838       330,095  
    Borrowings     30,323       30,001       26,579       32,720       12,580  
    Stockholders’ equity     20,664       19,559       14,253       19,169       17,105  
                         
    Performance Ratios                    
    Annualized return on average assets   -0.04 %     0.14 %     0.19 %     -0.03 %     0.40 %
    Annualized return on average equity   -0.75 %     2.63 %     4.65 %     -0.58 %     8.35 %
    Net interest margin     2.98 %     3.06 %     3.17 %     2.98 %     3.31 %
    Dividend payout ratio     0 %     224 %     172 %     -773 %     80 %
    Book value per share   $ 6.14     $ 7.29     $ 6.70     $ 6.14     $ 6.70  
    Basic and diluted net income per share     (0.01 )     0.04       0.06       (0.04 )     0.50  
    Cash dividends declared per share     0.00       0.10       0.10       0.30       0.40  
    Basic and diluted weighted average shares outstanding     2,900,681       2,897,929       2,880,398       2,893,871       2,873,500  
                         
    Asset Quality Ratios                    
    Allowance for loan losses to loans     1.38 %     1.33 %     1.22 %     1.38 %     1.22 %
    Nonperforming loans to avg. loans     0.18 %     0.14 %     0.30 %     0.19 %     0.29 %
    Allowance for loan losses to nonaccrual & 90+ past due loans     789.1 %     937.5 %     409.3 %     789.1 %     409.3 %
    Net charge-offs annualize to avg. loans     -0.04 %     -0.09 %     0.08 %     0.08 %     0.06 %
                         
    Capital Ratios                    
    Common Equity Tier 1 Capital     15.15 %     15.47 %     17.37 %     15.15 %     17.37 %
    Tier 1 Risk-based Capital Ratio     15.15 %     15.47 %     17.37 %     15.15 %     17.37 %
    Leverage Ratio     9.97 %     10.11 %     10.76 %     9.97 %     10.76 %
    Total Risk-Based Capital Ratio     16.40 %     16.72 %     18.40 %     16.40 %     18.40 %

    The MIL Network –

  • MIL-OSI: Real Matters Announces Election of Directors

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 06, 2025 (GLOBE NEWSWIRE) — Real Matters Inc. (“Real Matters”), a leading network management services platform for the mortgage and insurance industries, today announced that all of the nominees listed in Real Matters’ management information circular dated December 13, 2024, were elected as directors of Real Matters. The detailed results of the vote for the election of directors held at Real Matters’ Annual Meeting of Shareholders are set out below:

    Each of the following six nominees proposed by management was elected as a director of Real Matters:

    Nominee Votes For % Votes For Votes Against % Votes Against
    Kay Brekken 42,303,499 84.11% 7,994,373 15.89%
    Garry Foster 41,379,919 82.27% 8,917,953 17.73%
    Brian Lang 50,252,277 99.91% 45,595 0.09%
    Karen Martin 50,282,787 99.97% 15,085 0.03%
    Frank McMahon 41,488,620 82.49% 8,809,252 17.51%
    Peter Vukanovich 50,262,177 99.93% 35,695 0.07%

    Final voting results on all matters voted on at the Annual Meeting of Shareholders held earlier today will be published on www.realmatters.com, and filed with the Canadian securities regulators.

    About Real Matters
    Real Matters is a leading network management services provider for the mortgage lending and insurance industries. Real Matters’ platform combines its proprietary technology and network management capabilities with tens of thousands of independent qualified field professionals to create an efficient marketplace for the provision of mortgage lending and insurance industry services. Our clients include top 100 mortgage lenders in the U.S. and some of the largest banks and insurance companies in North America. We are a leading independent provider of residential real estate appraisals to the mortgage market and a leading independent provider of title services in the U.S. Headquartered in Markham (ON), Real Matters has principal offices in Buffalo (NY) and Middletown (RI). Real Matters is listed on the Toronto Stock Exchange under the symbol REAL. For more information, visit www.realmatters.com.

    For more information:
    Lyne Beauregard
    Vice President, Investor Relations and Corporate Communications
    Real Matters
    lbeauregard@realmatters.com
    416.994.5930

    The MIL Network –

  • MIL-OSI Economics: Development Asia: Strengthening Digital Safety Systems for Children in Nepal

    Source: Asia Development Bank

    This participative research was initiated under the Safety for Children and their Rights OnLine (SCROL) project in Nepal led by Terre des Hommes Netherlands in partnership with the Center for Legal Research and Resource Development (CeLRRD), Child Workers in Nepal (CWIN), and Women Youth in Social Service Human Rights (WYESHR).

    The research was conducted in the Gandaki and Bagmati provinces in 2024 by 162 children through voluntary participation and a simple random sampling method. A total of 443 children and 213 parents responded to a questionnaire designed by children.

    The following findings, based on children’s insights, highlight critical trends in online experiences that have the potential to shape effective solutions.

    Social media usage patterns: According to the survey results, Facebook emerged as the dominant social media platform, with 42% of respondents indicating it as their primary choice for online engagement. YouTube is the second most popular platform, capturing 26% of user preferences, while Instagram maintains a significant presence, with 14% of users favoring it as their main social platform.

    Response to online negativity: The data reveals essential insights into youth coping mechanisms when encountering harmful online content. A plurality of young users (31.6%) prioritize peer support by confiding in friends, while a slightly smaller proportion (27.5%) choose to discuss these issues with their parents. Notably, a concerning 20% of respondents internalize these experiences by keeping them private. This isolation can increase the risk of revictimization and lead to mental health issues among children, highlighting potential areas for intervention.

    Digital safety practices: Most users (78.6%) demonstrate awareness of basic online safety measures by consistently declining friendship requests from unknown individuals on Facebook, indicating a strong foundation of protective behaviors.

    Social media perception: The survey reveals a notable division in attitudes toward social media engagement. Nearly half (49.2%) of respondents express caution by discouraging peers from joining social platforms, while 40.2% maintain a positive outlook and actively encourage participation.

    Mental health impact: The research identifies that approximately one in six respondents (17%) acknowledge experiencing psychological distress related to their online activities, highlighting the importance of mental health support in digital spaces.

    Digital account security: Most users (90.7%) demonstrate strong ethical digital practices by maintaining strict account security, specifically avoiding trading or sharing their online and gaming accounts.

    Parental oversight acceptance: The data shows that slightly more than half of young users (53%) have a positive attitude toward parental monitoring and established online boundaries, suggesting a balanced approach to digital supervision.

    “Monitoring and setting boundaries are good—they protect us from OCSE. However, they [parents] shouldn’t interfere with our studies, privacy, or personal life.” – Rima (name changed)

    Parental control approaches: Regarding social media access, most parents (61%) opt for an open approach with unrestricted usage, while approximately one-quarter (26.5%) implement complete restrictions, revealing diverse parenting strategies in digital supervision.

    Parent-child digital dynamics: The survey indicates that approximately half of the children (50.7%) feel comfortable using their devices in their parents’ presence, suggesting a relatively balanced level of trust and openness in digital behavior.

    Child protection awareness: A significant finding reveals that more than half of parents (55%) lack knowledge about available reporting mechanisms for Online Child Sexual Exploitation (OCSE), indicating a crucial gap in child safety awareness.

    Parental acceptance of children’s display of alternative gender and sexual identity online: Parental acceptance of their children’s alternative gender and sexual identity, such as LGBTQ+, discovered through social media use varies across Nepal’s regions. The Bagmati region shows higher acceptance (53.91%) than Gandaki (24.10%), with combined acceptance at 42.18%. Resistance is higher in Gandaki (45.78%) than in Bagmati (29.69%), showing more progressive thinking in Bagmati. The remaining parents are uncertain (21.33%) or would seek specialist help (0.47%).

    MIL OSI Economics –

  • MIL-OSI Video: President Trump Greets the Prime Minister of the State of Israel

    Source: United States of America – The White House (video statements)

    President Donald J. Trump welcomed Israeli Prime Minister Benjamin Netanyahu to the White House today- the first world leader to visit during his second term.

    https://www.youtube.com/watch?v=WmukWqxYGQA

    MIL OSI Video –

  • MIL-OSI USA: News 02/6/2025 Blackburn Celebrates Her Legislation Passing Out of Commerce Committee

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)

    WASHINGTON, D.C. – U.S. Senator Marsha Blackburn (R-Tenn) released the following statement after five bills that she sponsored or co-sponsored passed out of the Senate Committee on Commerce, Science, and Transportation. This includes the American Music Tourism Act, the Promoting Resilient Supply Chains Act, the Strengthening Support for American Manufacturing Act, the She DRIVES Act, and the TORNADO Act.

    “The 119th Congress is already off to a productive start, and I am pleased that five of my bills have moved forward out of the Commerce Committee to the full Senate for a vote,” said Senator Blackburn. “I urge my Senate colleagues to support this legislation, which will promote American music tourism, strengthen U.S. supply chains for emerging technologies, boost domestic manufacturing, enhance vehicle safety standards, and improve the forecasting of hazardous weather.” 

    BACKGROUND:

    See below for more information on each piece of legislation.

    • The American Music Tourism Act, sponsored by Senator Blackburn, would leverage the existing framework within the Department of Commerce to highlight and promote music tourism in the United States. It would require the Department of Commerce’s Assistant Secretary for Travel and Tourism to implement a plan to support and increase music tourism for both domestic and international visitors as well as a report to Congress on the successes and vulnerabilities of the Assistant Secretary’s goals to increase travel and tourism.
    • The Promoting Resilient Supply Chains Act, co-led by Senator Blackburn, would authorize the Department of Commerce to strengthen American supply chains for critical industries and emerging technologies by working with the private sector and U.S. government partners to anticipate and prevent future supply chain disruptions before they happen.
    • The Strengthening Support for American Manufacturing Act, co-led by Senator Blackburn, would streamline federal efforts to boost domestic manufacturers and support workers. It would also assess the Department of Commerce’s efforts to support manufacturers and suggest solutions to improve the Department’s manufacturing programs to better serve manufacturers – many of which are small businesses.
    • The She Develops Regulations in Vehicle Equality and Safety (She DRIVES) Act, co-led by Senator Blackburn, would enhance passenger vehicle safety by updating U.S. crashworthiness testing procedures. It would require the use of the most advanced testing devices available, including a female crash test dummy.
    • The Tornado Observation Research Notification and Deployment to Operations (TORNADO) Act, co-sponsored by Senator Blackburn, would improve the forecasting of tornadoes and other hazardous weather by requiring the National Oceanic and Atmospheric Administration to prepare and submit an action plan for the national implementation of high-resolution probabilistic guidance for tornado forecasting and prediction. 

    MIL OSI USA News –

  • MIL-OSI USA: Kennedy, Cramer reintroduce bill to prevent banks from discriminating against law-abiding businesses

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)

    WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, joined Sen. Kevin Cramer (R-N.D.) in reintroducing the Fair Access to Banking Act to prevent banks from denying services to law-abiding businesses for political purposes.  

    “Banks shouldn’t stop customers from accessing accounts or services based on political affiliation or industry. I’m proud to help introduce the Fair Access to Banking Act to make sure financial institutions aren’t working as political activists against law-abiding Americans,” said Kennedy.

    “When progressives failed at banning these entire industries, what they did instead is they turned to weaponizing banks as sort of a backdoor to carry out their activist goals. Financial institutions are backed by taxpayers, for crying out loud! They should be obligated to provide services in an unbiased, risk-based manner. The Fair Access to Banking Act ensures that banks provide fair access to services and enacts strict penalties for categorically discriminating against legal industries and individuals,” said Cramer.

    In 2021, the Trump administration finalized its Fair Access Rule to require banks to make individual risk assessments and stop broad discrimination against customers. However, the Biden administration paused the rule’s implementation. 

    The Fair Access to Banking Act would penalize banks and credit unions with more than $10 billion in assets for refusing services to law-abiding companies or people. The bill also requires banks to give a written explanation for denying services to a customer.

    Background:

    • The Fair Access to Banking Act would protect Americans in the wake of major banks’ move to discriminate against legal businesses. Some of the largest U.S. banks have blocked businesses and consumers from accessing financial services based on political ideology.
    • In 2020, five of the country’s largest banks announced they will not provide loans or credit to support oil and gas drilling in the Arctic National Wildlife Refuge even though Congress explicitly authorized it.
    • In 2021, JPMorgan Chase declared it would refuse financial services to coal producers. Bank of America also began a politically motivated effort to achieve net-zero greenhouse gas emissions from its financing activities by 2050, an effort directly targeting producers of reliable American energy. Earlier this year, however, Bank of America quietly withdrew from a climate alliance seeking net-zero emissions.
    • Payment services like Apple Pay and PayPal have denied their services for transactions involving firearms or ammunition.

    Sens. Jim Banks (R-Ind.), John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), John Boozman (R-Ark.), Katie Britt (R-Ala.), Ted Budd (R-N.C.), Shelley Moore Capito (R-W.Va.), Bill Cassidy (R-La.), John Cornyn (R-Texas), Tom Cotton (R-Ark.), Mike Crapo (R-Idaho), Ted Cruz (R-Texas), John Curtis (R-Utah), Steve Daines (R-Mont.), Joni Ernst (R-Iowa), Deb Fischer (R-Neb.), Lindsey Graham (R-S.C.), Bill Hagerty (R-Tenn.), John Hoeven (R-N.D.), Cindy Hyde-Smith (R-Miss.), Ron Johnson (R-Wis.), Jim Justice (R-W.Va.), James Lankford (R-Okla.), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Dave McCormick (R-Pa.), Jerry Moran (R-Kan.), Bernie Moreno (R-Ohio), Markwayne Mullin (R-Okla.), Pete Ricketts (R-Neb.), Jim Risch (R-Idaho), Eric Schmitt (R-Mo.), Rick Scott (R-Fla.), Tim Scott (R-S.C.), Tim Sheehy (R-Mont.), Dan Sullivan (R-Alaska), Thom Tillis (R-N.C.), Tommy Tuberville (R-Ala.) and Roger Wicker (R-Miss.) also cosponsored the bill. 

    The full bill text is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Kennedy in National Review: Work requirements would improve Medicaid—and the lives of those on the program

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)

    WASHINGTON – Sen. John Kennedy (R-La.) today penned this op-ed in National Review arguing that adding a work requirement to Medicaid would save taxpayers money and improve the health of those on the program.

    Key excerpts of the op-ed are below:

    “Medicaid is supposed to be an investment in our country’s health and well-being. So why doesn’t the program encourage more Americans to enter the workforce and improve their physical, mental, and financial health?

    “Numerous studies have shown that human beings are happier and healthier when they are employed. Long-term joblessness is associated with higher rates of cardiovascular disease, depression, and anxiety. One study even recommended employment as a ‘critical mental health intervention.’

    “Still, taxpayers today are footing the bill for an estimated 15 million able-bodied adults without children or other dependents to receive health-care coverage under Medicaid without any obligation to get a job. Many of them are simply choosing not to work. Both the taxpayer and the Medicaid recipients themselves would be better off if the program had a work requirement.”

    . . .

    “Nearly one in four Americans is on Medicaid today. Federal and state spending on the program has nearly doubled since 2020. COVID-19 was responsible for some of the spending surge, but there has been no effort to return Medicaid spending back to pre-pandemic levels.

    “This is unsustainable. Medicaid is well on its way to costing taxpayers $1 trillion per year. Congress must find a way to get able-bodied Americans back on their feet and off Medicaid. With the right incentives in place, these Americans can leave this life of poverty and dependency to set out on a pathway toward success.

    “A person without a job is not healthy. He’s not happy. He’s not free. Who really wants to be a slave to some government entitlement program?”

    . . .

    “Medicaid is an investment in our public health. Congress should treat it that way. Adding a work requirement to Medicaid will make the United States a stronger, healthier country and remind the world that America respects the dignity of hard work.”

    Read Kennedy’s full op-ed here.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Home Secretary hosts summit on mobile phone theft

    Source: United Kingdom – Government Statements

    The Home Secretary brought together law enforcement and leading tech companies to drive new action to tackle mobile phone thefts.

    Yvette Cooper and Diana Johnson host phone theft summit.

    Today the Home Secretary brought together policing leaders, the National Crime Agency, the Mayor of London and leading tech companies to drive new action to tackle mobile phone thefts and secure a collective effort to grip this criminality.    

    The summit comes as street crime has soared by 43% nationwide, driven by a significant rise in snatch theft, including of mobile phones.   

    For too long crimes like these have been neglected, which is why as part of the Government’s Plan for Change, the Home Secretary says she will legislate where necessary to ensure police have the powers they need to treat this with the seriousness it warrants, and police are expected to agree to step up enforcement activity nationwide.     

    This will include better use of intelligence to drive more hotspot policing and targeted operations, particularly around high-risk periods such as Christmas and when a new phone is released.     

    The Home Secretary urged companies including Apple, Google and Samsung, and law enforcement to join forces to build on existing anti-theft security measures and help design out and disincentivise phone theft, by making phones effectively worthless to criminals.    

    She called for a much deeper dive on all available sources of data and intelligence to build a much more comprehensive diagnosis of the problems and scale of the criminal market, to drive joint solutions.  

    All in attendance agreed to greater collaboration between police and tech by significantly boosting intelligence sharing, on both sides, and to reconvene in 3 months’ time. 

    It follows the government kickstarting the recruitment of 13,000 neighbourhood police officers, police community support officers and specials with £200 million investment so that every community will have a named, contactable officer who knows their patch.    

    Home Secretary Yvette Cooper said:    

    Over the last few years, mobile phone thefts have shot up – often driven by organised crime – leaving our streets feeling less safe. That has to change.   

    I brought together tech companies and law enforcement today to pursue stronger action against organised criminality and to prevent phone theft on our streets. It was a significant step forward in addressing the need to come together as partners to disrupt, design-out and disincentivise these damaging crimes.   

    At the same time, this government is doubling new investment into neighbourhood policing to tackle theft on high streets and in our communities, to keep our streets safe.  

    The commitment follows the Met Police’s significant recent intensification operation, which led to 1,000 phones seized and 230 arrests.  

    The Mayor of London, Sadiq Khan, said:  

    I’m really pleased to have joined today’s roundtable discussion with mobile phone firms, the Home Secretary, Met Police and National Crime Agency to discuss our ongoing partnership-led approach to tackle mobile phone crime. 

    The Met’s hard-working officers have stepped up their work in London to prevent and tackle mobile phone theft – with patrols and plain-clothed operations in hotspot areas and are increasingly using phone-tracking data and intelligence. This work is being backed up with record funding from City Hall which is boosting neighbourhood policing in our communities. 

    But we know that we can’t arrest our way out of mobile phone crime – which has become a national and international issue and needs innovative solutions. I welcome recent security updates by leading mobile phone companies that we supported and we spoke today about how we can build on those and work together to ‘design out’ the scourge of mobile phone crime to build a safer London for all.

    Aleyne Johnson, Director of Government and External Relations, Samsung UK, said: 

    Samsung is deeply committed to working closely with the Home Office, Mayor’s Office, the Met Police and authorities in London on the issue of mobile phone theft and related crimes and are encouraged by collaborative discussions held at the Mobile Phone Theft Summit today, to look at existing and potential new solutions to help combat this complex issue and improve the safety of mobile phone users.  

    We encourage all of our customers to protect their devices by setting up existing Android security and privacy features, like Theft Detection Lock, Offline Device Lock and Remote Lock and our recent One UI 7 update has built further on those protections with new anti-theft features such as identity check, biometric authentication and security delay, all featured in our latest Galaxy S25 series. 

    Alex Rawle, Safety and Security Lead, Google UK said: 

    Android devices offer added protection for millions around the UK. We encourage users to make use of existing security and privacy features, like Theft Detection Lock, Offline Device Lock and Remote Lock, to improve the safety of their devices and data.  

    We welcome today’s summit and are committed to continue working with our partners to support efforts against mobile phone theft.

    Gary Davis, Senior Director, Regulatory Legal, Apple, said: 

    Apple works closely with law enforcement bodies in the UK and globally to fight phone theft, and we welcome the opportunity to further collaborate at today’s event.  

    Apple has industry leading features that help users keep their devices and data safe. These include Activation Lock, a feature that is enabled automatically when Find My is activated and works in the background to make it more difficult for someone to use or sell your iPhone or iPad if it’s ever lost or stolen.  

    Stolen Device Protection adds additional security if a device is away from familiar locations. These are complemented by tools such as Recovery Key, a method to regain control if you lose access to your account and Find My, a tool that you can use to locate the device and protect your personal information.

    Updates to this page

    Published 6 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Attorney General James’ Office of Special Investigation Releases Report on Death of Caesar Robinson

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James’ Office of Special Investigation (OSI) today released its report on the death of Caesar Robinson, who died on April 13, 2023 after an encounter with members of the New York City Police Department (NYPD) in Brooklyn. Following a thorough investigation, which included review of body-worn camera footage and building security camera footage, interviews with involved officers, and comprehensive legal analysis, OSI concluded that a prosecutor would not be able to disprove beyond a reasonable doubt at trial that the officers’ actions were justified under New York law.

    On the afternoon of April 13, NYPD officers responded to a 911 call reporting a possible burglary in progress at an apartment at 330 Lewis Avenue in Brooklyn. Officers knocked on the door of the apartment where the possible burglary was reported, and Mr. Robinson answered the door with a gun in his hand. When Mr. Robinson began to raise the gun toward the officers, one officer directed Mr. Robinson to drop his weapon. Mr. Robinson did not comply, and the officers discharged their service weapons, striking him. Mr. Robinson was transported to a local hospital where he was pronounced dead.

    Under New York’s justification law, a police officer may use deadly physical force when the officer reasonably believes it to be necessary to defend against the use of deadly physical force by another. In this case, when Mr. Robinson opened the door to his apartment, he was holding a gun in his hand, raised it towards the officers, and did not comply when directed to drop it. Under these circumstances, given the law and the evidence, a prosecutor would not be able to disprove beyond a reasonable doubt at trial that the officers’ use of deadly physical force against Mr. Robinson was justified, and therefore OSI determined that criminal charges would not be pursued in this matter.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General James Secures Prison Sentence for Serial Health Care Fraudster

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James today announced the sentencing of Imran Shams, 66, of California, to eight and one third to twenty-five years in state prison for his role in a scheme that wrongfully billed Medicaid millions of dollars for fraudulent medical testing services. On March 6, 2020, Shams pleaded guilty to Grand Larceny in the First and Second Degrees and agreed to pay restitution of $7 million. Shams is currently serving a 13-year federal prison sentence following convictions in the United States District Courts for the Eastern District of New York and the Central District of California for conduct related to his New York scheme, as well as other health care fraud schemes.

    “When criminal organizations abuse our health care system, the most vulnerable patients suffer,” said Attorney General James. “Imram Shams and his accomplices ran a despicable scheme that used vulnerable New Yorkers to steal millions of dollars meant to provide care for low-income patients. My office will continue to go after those who try to profit by undermining the Medicaid program and bring bad actors to justice.”

    Shams’ sentencing is the culmination of a multi-year investigation and prosecution of the illegal activity of Multi-Specialty, a fraudulent medical clinic secretly owned by Shams, who was banned from billing Medicaid as a provider due to a previous health care fraud conviction. Multi-Specialty illegally paid Medicaid recipients a kickback of $20 to $50 to enter the clinic and submit to unnecessary and usually fraudulent evaluations and tests. These were often administered by untrained and incompetent individuals recruited to dress like health care professionals in order to lend an appearance of legitimacy to the fraud.

    Soliciting Medicaid recipients by offering to pay them to accept medical services paid for by Medicaid is unlawful under state and federal law. After bribing recipients to enter his clinic, Shams used licensed health care providers complicit in the scheme to submit fraudulent claims to Medicaid and to Medicaid-funded Managed Care Organizations (MCOs) for unnecessary or nonexistent services. Shams also received millions of dollars in kickbacks for exclusively referring patients for diagnostic testing, regardless of medical need, to companies owned by other participants in the scheme, Tea Kaganovich and Ramazi Mitaishvili, both of Brooklyn.

    Shams was sentenced today to eight and one third to twenty-five years in prison, to run concurrent with his federal sentence, by Judge Michele Rodney of the New York County Supreme Court, and is the last defendant to be sentenced in this scheme. His sentence follows the convictions and sentencings of Kaganovich and Mitaishvili on charges of Grand Larceny in the First Degree. Both received a sentence of one and a half to four and a half years in state prison in November 2023. In addition, a radiologist complicit in the scheme, Bernard Bentley of East Hampton, New York received a sentence of three years of probation on charges of Grand Larceny in the Second Degree for his role in fraudulently billing Medicaid over eight million dollars for fraudulent diagnostic testing services.

    Kaganovich and Mitaishvili were prosecuted in a related criminal case in the Eastern District of New York, and as part of that case, were ordered to pay over $18 million of restitution to the New York Medicaid Fraud Restitution Fund, and it is expected that more than seven million dollars in assets seized from those defendants as part of the federal case will be remitted to New York.

    The Attorney General would like to thank the New York State Office of the Medicaid Inspector General (OMIG), the U.S. Department of Justice Medicare Strike Force, which operates from the U.S. Attorney’s Office, Eastern District of New York; the United States Department of Health and Human Services, Office of the Inspector General (HHS OIG); the New York City Human Resources Administration, Medicaid Provider Investigations and Audit Unit, and HealthFirst for their assistance and cooperation in this investigation. 

    Senior Detective Stanislav Tabakov investigated the case with the assistance of Detective Supervisor Dominick DiGennaro. Senior Auditor Investigator Lisandra Defex conducted the financial analysis with the assistance of MFCU New York City Regional Chief Auditor Investigator Thomasina Smith and Deputy Regional Chief Auditor Jonathan Romano.

    Special Assistant Attorney General Chase Ruddy prosecuted the criminal case under the supervision of NYC Regional Director Twan V. Bounds. Deputy Chief of MFCU’s Civil Enforcement Division, Konrad F. Payne, negotiated monetary settlements attendant to each defendant’s guilty pleas that recovered millions of dollars for the state. Alee Scott is the Chief of MFCU’s Civil Enforcement Division. Thomas O’Hanlon is MFCU’s Chief of Criminal Investigations. MFCU is led by Director Amy Held and Assistant Deputy Attorney General Paul Mahoney. The Division of Criminal Justice is led by Chief Deputy Attorney General José Maldonado under the oversight of First Deputy Attorney General Jennifer Levy.

    MFCU defends the public by addressing Medicaid provider fraud and protecting nursing home residents from abuse and neglect. If an individual believes they have information about Medicaid provider fraud or about an incident of abuse or neglect of a nursing home resident, they can file a confidential complaint online or call the MFCU hotline at (800) 771-7755. If the situation is an emergency, please call 911.

    New York MFCU’s total funding for federal fiscal year (FY) 2025 is $70,502,916. Of that total, 75 percent, or $52,877,188, is funded from the U.S. Department of Health and Human Services. The remaining 25 percent, totaling $17,625,728 for FY 2025, is funded by New York State.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General James Secures Historic Settlement With National Women’s Soccer League for Mistreatment of Players

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James, together with Illinois Attorney General Kwame Raoul and Washington, D.C. Attorney General Brian Schwalb, today announced a landmark settlement with the National Women’s Soccer League (NWSL) after numerous players came forward with allegations of harassment and sexual misconduct, and an independent investigation subsequently found that emotional abuse and sexual coercion were systemic across the NWSL. Following these reports, the attorneys general launched a joint investigation that found widespread violations of players’ fundamental rights. As a result of the attorneys general’s action, NWSL will create a $5 million fund to compensate players who were abused and continue implementation of comprehensive reforms to improve player safety and well-being, giving the attorneys general the ability to oversee and enforce new league protocols and protections for players.

    “For too long, the hardworking and talented women of the National Women’s Soccer League were forced to endure an unacceptable culture of abuse, harassment, and retaliation,” said Attorney General James. “This settlement sends a clear message that such misconduct will not be tolerated and ensures players receive the compensation and protections they deserve. Every athlete should be able to compete in a safe, supportive environment, and I thank the brave individuals who came forward to share their experiences.” 

    In 2021, players from across the NWSL went public with allegations of misconduct and abuse at the hands of coaches and officials dating back over 10 years. Many of these complaints had been reported to the NWSL but were largely ignored. After the reports were made public, two separate investigations – one commissioned jointly by the NWSL and NWSL Players’ Association (NWSLPA) and one by the United States Soccer Federation, conducted by former U.S. Deputy Attorney General Sally Yates – found systemic, league-wide failures that contributed to verbal abuse, sexual assault, harassment, coercion, and discrimination by coaches, with no clear mechanisms in place for player safety. By the end of the 2021 season, in the wake of player complaints and media reports, five of the NWSL’s ten existing teams had fired their coaches. 

    The attorneys general launched a joint investigation into these allegations in 2022, which revealed that the NWSL was permeated by a culture of abuse and neglect. Coaches verbally abused players, sexually assaulted players, and coerced them into inappropriate relationships, retaliating against those who resisted or spoke out. The investigation further uncovered that some teams failed to conduct background checks, allowing coaches previously terminated for misconduct to be rehired by other teams.

    In 2021, NWSL’s longest-tenured coach resigned after a sports psychologist found he had created a culture of fear and engaged in emotional and verbal abuse. The NWSL had been aware of this coach’s conduct since at least 2014, with players reporting that the coach repeatedly made sexualized remarks about their appearances, texted them after hours, and pressured them to attend inappropriate one-on-one meals with him. This coach also referred to Black players as “thugs,” and told another Black player that she was “acting like a gang member.” At least one player who complained was swiftly traded to another team. Despite knowledge of these issues, NWSL failed to take reasonable measures to protect its players. 

    In another instance, a team hired a new head coach and almost immediately received reports of this coach’s previous abusive behavior. Allegations were made publicly, and directly to NWSL, but neither the team nor the league ever investigated these reports. In his new head coach role, this individual subjected his players to constant verbal and emotional abuse. Furthermore, he created a hostile work environment on the basis of race and religion by making racist jokes, using racial epithets including the N-word, using a surgical mask to mimic religious headwear, calling a game the team was losing a “Holocaust,” and referred to a passing drill as a “Jew star.” This coach remained in his position for nearly three years.

    The NWSL’s failure to adopt essential policies exacerbated these issues. For its first eight years, the NWSL conducted only two brief workplace conduct trainings and lacked an anti-fraternization policy until 2023. It had no formal process for reporting and investigating misconduct, leaving players confused about where to seek help. Medical staff were inadequate, and in some cases, coaches forced players to play against medical advice, prioritizing performance over safety.

    As a result of the joint investigation conducted by the attorneys general, today’s settlement requires the NWSL to create a $5 million restitution fund for impacted players. The fund will be administered by former U.S. District Judge Barbara Jones, who will notify players eligible to receive settlement funds. Any unclaimed funds after 180 days will be donated to the NWSLPA’s emergency and charitable fund. The NWSL also faces $2 million in penalties if it defaults on any terms of the agreement.

    Today’s settlement also requires the NWSL to implement league-wide policy changes to protect players. With oversight from the attorneys general, the NWSL must continue to comply with extensive changes to its protocols, including:

    •  Rigorous vetting of prospective coaches, general managers, athletic trainers, and player safety officers;
    •  Multiple mechanisms for players to report misconduct;
    •  Prohibiting coaches from having exclusive control over player housing or medical decisions;
    •  A policy that teams may not investigate themselves regarding coach misconduct and player safety;
    •  Establishing a league safety officer;
    •  Requiring each team to employ dedicated HR personnel and at least one mental health professional;
    •  Annual training for all players and staff on how to prevent bullying, harassment, sexual misconduct, racism, and retaliation, and the reporting mechanisms available to players; and
    •  Providing the attorneys general with the results of annual, anonymous player surveys of coach conduct and team culture.

    To safeguard players’ mental health, the attorneys general have also directed NWSL to provide unlimited free and confidential counseling services to all players via contracted clinical therapists and guarantee 80% insurance coverage for mental health services. Every NWSL team must also hire a board-certified psychiatrist or doctoral-level psychologist to serve as Team Clinician, as well as a Mental Performance Consultant. Players are all entitled to take mental health leaves as recommended by mental health professionals.

    For the next three years, the NWSL must submit biannual reports to the attorneys general, detailing the implementation of the settlement terms and noting any complaints alleging misconduct involving player or staff safety. This settlement does not preclude individual players from pursuing private legal actions against the NWSL or its teams.

    “Today’s settlement is only possible because of the players who courageously stepped forward to tell their stories and expose the League’s systemic failures. While NWSL has made critical improvements, the victims never received any compensation for the sexual and emotional abuse they endured on the League’s watch,” said Attorney General Schwalb. “No dollar amount could ever fully address the damage that was inflicted, but now my office, together with New York and Illinois, will have oversight authority to ensure that the League’s new safety policies are implemented and that current and future players are protected.”

    “I commend the current and former players whose courage and leadership off the field was critical to reaching today’s settlement. Despite having the most to lose, these players came forward to expose abuse and a lack of accountability by those at the top of the league. Because they spoke up for themselves and their teammates, they have brought about reform that will protect future players,” said Attorney General Raoul. “I am proud to collaborate with Attorney General Schwalb and Attorney General James to hold the league accountable and put an overdue end to the unprofessional and toxic practices that have plagued the league.”

    “This investigation was initiated by the NWSLPA because players refused to stay silent in the face of systemic abuse. The human rights and civil rights violations they endured were enabled by a system that failed in its most basic duty: to protect its players,” said Meghann Burke, Executive Director of the National Women’s Soccer League Players Association. “This settlement not only acknowledges those failures but, for the first time, establishes enforcement mechanisms under the law to hold NWSL accountable and to prevent future harm. We appreciate Attorneys General Brian Schwalb, Letitia James, and Kwame Raoul for their commitment to standing with players and to bringing the power of their offices to bear on enforcing the recommendations of our Joint Investigation. Accountability is not a one-time event—it is an ongoing commitment that never ends. The NWSLPA will continue to ensure that this league never again prioritizes silence over safety.”

    This matter was handled for New York by Senior Counsel Sandra Pullman and Assistant Attorney General Zoe Ridolfi-Starr, both of the Civil Rights Bureau, with assistance from Bureau Chief Sandra Park and Deputy Bureau Chief Travis England. The Civil Rights Bureau is part of the Division for Social Justice, which is led by Chief Deputy Attorney General Meghan Faux and overseen by First Deputy Attorney General Jennifer Levy.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General James Demands Refunds for Optimum Customers Facing MSG Blackouts

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James, Connecticut Attorney General William Tong, and New Jersey Attorney General Matthew Platkin today took action to secure automatic refunds for customers of Altice USA (Altice), the owner of Optimum, who have been denied access to MSG Networks (MSG) cable channels as a result of Optimum’s blackouts. In January, Attorney General James called on Optimum and MSG to quickly resolve contract negotiations so New Yorkers would not be impacted by service disruptions. As a result of a contract dispute between Altice and MSG, Optimum cable consumers have been blocked from accessing MSG stations, leaving residents in the tri-state area who paid extra for these sports channels unable to watch them. In a letter to Optimum’s owner, Altice, the attorneys general demanded automatic refunds for customers who have been denied access to the MSG channels they paid for as part of their cable plans. 

    “New York sports fans are being put in the penalty box, forced to shell out their hard-earned money for television channels they cannot even watch,” said Attorney General James. “Optimum customers have paid for channels to watch their home sports teams, but their cable company is not offering these channels while charging them anyway. I am determined to secure a solution for New Yorkers who have had to endure these unfair blackouts and I urge Optimum and MSG to finally reach a deal so New Yorkers can watch their home teams.” 

    “We urge Optimum and MSG to resolve their dispute and end the blackout so that New Jersey consumers can once again access the services they paid for to watch their favorite local teams play,” said Attorney General Platkin.

    “Optimum and MSG need to stop the posturing and get back to the table. Figure it out and let us watch our sports in peace,” said Attorney General Tong. “In the meantime, consumers are paying for sports they can’t watch and they are owed immediate refunds without hassle.”

    Altice removed access to MSG channels for its Optimum cable plan customers beginning in January 2025. MSG channels, which provide exclusive coverage of the New York Knicks, New York Rangers, New York Islanders, New Jersey Devils, and Buffalo Sabres have remained blacked out since January 1. In January, Attorney General James alerted both Optimum and MSG that the Office of the Attorney General would be monitoring the ongoing contract situation closely to ensure New York customers received the services they were paying for.

    In the letter to Altice, the attorneys general demand automatic refunds for impacted customers who paid for Optimum cable plans and were denied access to the channels they paid for.

    This is the latest example of Attorney General James taking action to protect consumers who are unfairly charged for goods and services. In December 2024, Attorney General James secured refunds for former customers of telehealth company SmileDirectClub who were charged for services they never received after the company declared bankruptcy. In October 2024, Attorney General James secured refunds for consumers whose hotel reservations in Buffalo were canceled before the solar eclipse. In February 2024, Attorney General James secured refunds for New Yorkers who were wrongfully charged for COVID-19 vaccines. 

    MIL OSI USA News –

  • MIL-OSI Video: President Trump Swears In Pam Bondi as the U.S. Attorney General

    Source: United States of America – The White House (video statements)

    The White House

    https://www.youtube.com/watch?v=NId6ftqVJ1A

    MIL OSI Video –

  • MIL-OSI Video: President Trump Hosts a Bilateral Meeting with the Prime Minister of the State of Israel

    Source: United States of America – The White House (video statements)

    The White House

    https://www.youtube.com/watch?v=NBvnQw7Ywf0

    MIL OSI Video –

  • MIL-OSI Video: Tom Homan and Kristi Noem Drop a BLISTERING Warning to Illegal Aliens

    Source: United States of America – The White House (video statements)

    Let this be a WARNING to illegal alien criminals: YOU’RE GOING HOME.

    https://www.youtube.com/watch?v=XawV6D41hlc

    MIL OSI Video –

  • MIL-OSI USA: Cortez Masto, Moran Introduce Legislation to Expand Production of Electric Distribution Transformers

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

    Washington, D.C. – U.S. Senators Catherine Cortez Masto (D-Nev.) and Jerry Moran (R-Kan.) introduced the Credit Incentives for Resilient Critical Utility Infrastructure and Transformers (CIRCUIT) Act to encourage the production of electric distribution transformers – devices that take high-voltage electricity from power lines and reduce it to lower voltage levels suitable for homes, businesses, and other end-users.

    The U.S. is in the middle of unprecedented demand for power transformers, which has left the energy sector uncertain about the stability of the future grid. Current production is unable to keep up with demand from new housing, data centers and more. This legislation would expand the Advanced Manufacturing Production Credit (45X) passed as part of the Inflation Reduction Act to include distribution transformers to bolster the domestic energy economy.

    “Nevada is leading the way in 21st Century energy technologies and manufacturing, and we need more distribution transformers to connect new sources of energy and power to the grid,” said Sen. Cortez Masto. “Our bipartisan legislation to boost the production of distribution transformers is critical for lowering energy costs, supporting energy resiliency, and strengthening our national security.”

    “Demand for energy and power is continuing to grow in Kansas and across the country as housing, businesses and transportation needs expand,” said Sen. Moran. “Creating a tax credit to incentivize domestic production and manufacturing of distribution transformers will help the United States move closer to energy independence, provide jobs and keep up with rising demands.”

    “Distribution transformers are essential to a reliable electrical grid that supports our nation’s critical infrastructure,” said Debra Phillips, President and CEO of National Electric Manufacturers Association (NEMA). “NEMA thanks Senators Moran (KS) and Cortez Masto (NV) for their leadership on the bipartisan CIRCUIT Act that will ensure domestic manufacturers of distribution transformers qualify for the 45X tax credit, intended for advanced manufacturing of critical energy components. The CIRCUIT Act will also help mitigate supply chain issues that distribution transformers have faced while encouraging continued on-shoring and domestic production. We look forward to continuing to work with our bipartisan partners in Congress to create solutions that boost the resilience of our nation’s electrical grid and expand U.S. manufacturing in critical supply chains.”

    “For years, public power utilities across the country have faced a severe and ongoing shortage of distribution transformers,” said Scott Corwin, President & CEO, American Public Power Association. “This critical shortage threatens grid reliability, delays storm recovery, and dampens economic development. The American Public Power Association applauds Senators Moran and Cortez Masto for introducing the CIRCUIT Act to incentivize domestic manufacturing of distribution transformers, and we urge its swift enactment.”

    “Expanding the manufacturing credit to include distribution transformers will help give domestic manufacturers needed certainty as they work to ensure a resilient national supply chain for electric cooperatives and other utilities,” said Jim Matheson, CEO of the National Rural Electric Cooperative Association. “We thank Sens. Moran and Cortez Masto for introducing this legislation, which is critical to strengthening the domestic energy economy and assisting co-ops in their mission to provide safe, reliable and affordable power to their members.”

    The full text of the bill can be found here.

    As part of her Innovation State Initiative, Senator Cortez Masto has led efforts in Congress to support Nevada’s energy industries and cut through red tape, while lowering costs for families. At a Senate Energy and Natural Resources Committee hearing last March, she discussed the need to speed up interconnection processes with FERC nominees.

    MIL OSI USA News –