NewzIntel.com

Category: CTF

  • MIL-OSI: Chino Commercial Bancorp Reports 25% Increase in Net Earnings

    Source: GlobeNewswire (MIL-OSI)

    CHINO, Calif., July 18, 2025 (GLOBE NEWSWIRE) — The Board of Directors of Chino Commercial Bancorp (OTC: CCBC), the parent company of Chino Commercial Bank, N.A., announced the results of operations for the Bank and the consolidated holding company for the second quarter ended June 30, 2025.

    Net earnings for the second quarter of 2025 were $1.54 million, reflecting an increase of $308.5 thousand, or 25.04%, compared to the same period last year. Basic and diluted earnings per share were $0.48 for the second quarter of 2025, up from $0.38 for the same quarter in 2024. Net earnings year-to-date increased by 16.85% or by $417.1 thousand, to $2.89 million, as compared to $2.48 million for the same period last year. Net earnings per share was $0.90 for the period ending June 30, 2025, and $0.77 for the same period last year.

    Dann H. Bowman, President and Chief Executive Officer, stated, “We are very pleased with the Bank’s performance in the second quarter of 2025, which set new records for total Assets, total Deposits, net earnings, and total Capital. Loan quality also remains very strong, with the Bank having no delinquent loans at quarter-end.

    We are also proud to announce the opening of the Bank’s fifth location in Corona during the second quarter. Early business development efforts have been very productive, with the branch already having $20 million in new deposits.

    The Bank’s Merchant Services program continues to deliver reliable credit card processing services for its customers, with significant savings and improved cash-flow options.”

    Financial Condition

    As of June 30, 2025, total assets reached $481.9 million, representing an increase of $15.3 million, or 3.3%, from $466.7 million on December 31, 2024. Total deposits rose by $22.7 million, or 6.5%, to $371.6 million, up from $348.9 million on December 31, 2024. Core deposits accounted for 97.01% of total deposits as of June 30, 2025.

    Gross loans increased by $1.02 million, or 0.5%, totaling $206.3 million as of June 30, 2025, compared to $205.2 million as of December 31, 2024. The Bank reported no delinquent loans, and three non-performing loans on non-accrual status, as of June 30, 2025. As of December 31, 2024, the Bank reported no delinquent loans and five non-performing loans on all on nonaccrual status. There were no Other Real Estate Owned (OREO) properties reported at either date.

    Earnings

    The Company reported net interest income of $3.7 million for the three months ended June 30, 2025, compared to $3.2 million for the same period in 2024. Average interest-earning assets were $414.6 million, while average interest-bearing liabilities totaled $221.9 million, resulting in a net interest margin of 3.69% for the second quarter of 2025. This compares favorably to the prior year’s second-quarter margin of 2.95%, based on average interest-earning assets of $432.2 million and average interest-bearing liabilities of $240.2 million.

    Non-interest income totaled $1.0 million in the second quarter of 2025, an increase of 23.0% compared to $822.0 thousand in the second quarter of 2024. Most of the increase was driven by higher service charges and fees on deposit accounts, which rose to $527.2 thousand—an increase of $66.5 thousand, or 14.5%, compared to $460.6 thousand in the same period last year. Merchant services processing revenue also contributed to the growth, totaling $178.8 thousand for the quarter, up $30.0 thousand, or 20.2%, from $148.8 thousand in the second quarter of 2024.

    General and administrative expenses totaled $2.7 million for the three months ended June 30, 2025, compared to $2.3 million for the same period in 2024. The largest component of these expenses was salary and benefits, which amounted to $1.6 million in the second quarter of 2025, up from $1.4 million in the prior year.

    Income tax expense for the quarter was $614.9 thousand, reflecting an increase of $129.4 thousand, or 26.7%, compared to $485.5 thousand for the same period last year. The Company’s effective income tax rate was approximately 28.5% for the period ending June 30, 2025, and 28.3 for the same period last year.

    Forward-Looking Statements

    The statements contained in this press release that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward-looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties, including but not limited to, the health of the national and California economies, the Company’s ability to attract and retain skilled employees, customers’ service expectations, the Company’s ability to successfully deploy new technology and gain efficiencies therefrom, and changes in interest rates, loan portfolio performance, and other factors.

    Contact: Dann H. Bowman, President and CEO or Melinda M. Milincu, Senior Vice President and CFO, Chino Commercial Bancorp and Chino Commercial Bank, N.A., 14245 Pipeline Avenue, Chino, CA. 91710, (909) 393-8880.

         
    Consolidated Statements of Financial Condition    
    As of 6/30/2025    
      Jun-2025
    Ending Balance    		     Dec-2024
    Ending Balance    		  
    Assets    
    Cash and due from banks $56,447,198     $45,256,619  
    Cash and cash equivalents $56,447,198     $45,256,619  
         
    Fed Funds Sold $9,060     $31,029  
         
    Investment securities available for sale, net of zero    
    allowance for credit losses $6,082,331     $6,558,341  
    Investment securities held to maturity , net of zero    
    allowance for credit losses $192,972,194     $190,701,756  
    Total Investments $199,054,525     $197,260,097  
         
    Gross loans held for investments $206,254,179     $205,235,497  
    Allowance for Loan Losses ($4,637,060 )   ($4,623,740 )
    Net Loans $201,617,119     $200,611,757  
    Stock investments, restricted, at cost $3,662,000     $3,576,000  
    Fixed assets, net $8,069,987     $7,255,785  
    Accrued Interest Receivable $1,532,213     $1,539,505  
    Bank Owned Life Insurance $8,600,690     $8,482,043  
    Other Assets $3,492,678     $3,170,159  
         
    Total Assets $481,978,760     $466,678,432  
         
    Liabilities    
    Deposits    
    Noninterest-bearing $172,049,944     $166,668,725  
    Interest-bearing $199,527,255     $182,200,703  
    Total Deposits $371,577,199     $348,869,428  
         
    Federal Home Loan Bank advances $10,000,000     $0  
    Federal Reserve Bank borrowings $40,000,000     $60,000,000  
    Subordinated debt $10,000,000     $10,000,000  
    Subordinated notes payable to subsidiary trust $3,093,000     $3,093,000  
    Accrued interest payable $220,193     $132,812  
    Other Liabilities $1,730,432     $1,877,996  
    Total Liabilities $436,620,824     $423,973,236  
         
    Shareholder Equity    
    Common Stock ** $10,502,558     $10,502,558  
    Retained Earnings $36,952,444     $34,059,943  
    Unrealized Gain (Loss) AFS Securities ($2,097,066 )   ($1,857,305 )
    Total Shareholders’ Equity $45,357,936     $42,705,196  
         
    Total Liab & Shareholders’ Equity $481,978,760     $466,678,432  
         
    ** Common stock, no par value, 10,000,000 shares authorized and 3,211,970 shares issued and outstanding at 6/30/2025 and 12/31/2024
         
             
    Consolidated Statements of Net Income
    As of 6/30/2025
      Jun-2025
    QTD Balance    		     Jun-2024
    QTD Balance    		     Jun-2025
    YTD Balance    		     Jun-2024
    YTD Balance    		  
    Interest Income        
    Interest & Fees On Loans $3,373,949     $2,801,198     $6,695,566     $5,528,999  
    Interest on Investment Securities $1,776,975     $1,945,563     $3,479,765     $3,881,668  
    Other Interest Income $176,702     $489,331     $433,028     $1,520,279  
    Total Interest Income $5,327,626     $5,236,092     $10,608,359     $10,930,946  
             
    Interest Expense        
    Interest on Deposits $1,255,426     $1,054,734     $2,445,727     $2,087,669  
    Interest on Borrowings $273,228     $997,524     $743,147     $2,310,217  
    Total Interest Expense $1,528,654     $2,052,258     $3,188,874     $4,397,886  
             
    Net Interest Income $3,798,972     $3,183,834     $7,419,485     $6,533,060  
             
    Provision For Loan Losses ($2,622 )   $1,794     $8,082     ($1,139 )
             
    Net Interest Income After Provision for Loan Losses $3,801,594     $3,182,040     $7,411,403     $6,534,199  
             
    Noninterest Income        
    Service Charges and Fees on Deposit Accounts $527,202     $460,658     $1,033,560     $900,515  
    Interchange Fees $110,482     $102,761     $216,951     $195,033  
    Earnings from Bank-Owned Life Insurance $60,373     $58,579     $118,647     $114,875  
    Merchant Services Processing $178,751     $148,770     $320,047     $281,538  
    Other Miscellaneous Income $134,621     $51,250     $177,814     $103,522  
             
    Total Noninterest Income $1,011,429     $822,018     $1,867,019     $1,595,483  
             
    Noninterest Expense        
    Salaries and Employee Benefits $1,632,294     $1,420,868     $3,220,764     $2,922,295  
    Occupancy and Equipment $219,906     $168,404     $401,359     $332,473  
    Merchant Services Processing $69,552     $73,394     $146,593     $144,603  
    Other Expenses $736,190     $624,150     $1,466,453     $1,280,128  
             
    Total Noninterest Expense $2,657,942     $2,286,816     $5,235,169     $4,679,499  
             
    Income Before Income Tax Expense $2,155,080     $1,717,243     $4,043,251     $3,450,182  
    Provision For Income Tax $614,855     $485,492     $1,150,750     $974,758  
             
    Net Income $1,540,225     $1,231,751     $2,892,501     $2,475,424  
             
    Basic earnings per share $ 0.48     $ 0.38     $ 0.90     $ 0.77  
             
    Diluted earnings per share $ 0.48     $ 0.38     $ 0.90     $ 0.77  
             
             
    Financial Highlights        
    As of 6/30/2025        
      Jun-2025
    QTD    		     Jun-2024
    QTD    		     Jun-2025
    YTD    		     Jun-2024
    YTD    		  
    Key Financial Ratios        
    Annualized Return on Average Equity   13.88%       12.61%       13.32%       12.85%  
    Annualized Return on Average Assets   1.41%       1.08%       1.32%       1.04%  
    Net Interest Margin   3.69%       2.95%       3.60%       2.91%  
    Core Efficiency Ratio   55.25%       57.09%       56.37%       57.57%  
    Net Chargeoffs/Recoveries to Average Loans   0.00%       0.00%       -0.01%       0.00%  
             
      3 month ended
    Jun-2025
    QTD Avg    		     3 month ended
    Jun-2024
    QTD Avg    		     Jun-2025
    YTD Avg    		     Jun-2024
    YTD Avg    		  
    Average Balances        
    (thousands, unaudited)        
    Average assets $440,184     $458,364     $442,199     $475,291  
    Average interest-earning assets $414,576     $432,215     $416,766     $450,774  
    Average interest-bearing liabilities $221,881     $240,214     $226,466     $258,566  
    Average gross loans $206,619     $187,788     $207,296     $184,961  
    Average deposits $369,282     $331,088     $363,382     $330,519  
    Average equity $44,617     $39,172     $43,924     $38,623  
             
      Jun-2025
    QTD    		     Dec-2024
    YTD    		        
    Credit Quality        
    Non-performing loans $833,565     $1,228,165        
    Non-performing loans to total loans   0.40%       0.60%        
    Non-performing loans to total assets   0.17%       0.26%        
    Allowance for credit losses to total loans   2.25%       2.25%        
    Nonperforming assets as a percentage of total loans and OREO   0.40%       0.60%        
    Allowance for credit losses to non-performing loans   556.29%       376.48%        
             
    Other Period-end Statistics        
    Shareholders equity to total assets   9.41%       9.15%        
    Net Loans to Deposits   54.12%       57.36%        
    Non-interest bearing deposits to total deposits   46.30%       47.77%        
    Company Leverage Ratio   11.48%       10.40%        
    Core Deposits / Total Deposits   97.01%       97.31%        
             

    The MIL Network –

  • MIL-OSI Security: Defense News in Brief: 325th Fighter Wing leads the way during Red Flag-Alaska 25-3

    Source: United States Spaceforce

    Airmen and F-325A Lightning II aircraft from the 325th Fighter Wing led RED FLAG-Alaska 25-3, a large-scale joint combat training exercise at Eielson AFB. The deployment marked the wing’s first major overseas exercise since Hurricane Michael in 2018 and test their ability to operate in unfamiliar, high-threat environments.

    MIL Security OSI –

  • MIL-OSI USA: Commissioner Johnson Hosted the Regulators’ Roundtable: Financial Markets Innovation and Supervision of Emergent Technology in London

    Source: US Commodity Futures Trading Commission

    LONDON — On July 14, 2025, Commodity Futures Trading Commission Commissioner Kristin Johnson convened the third annual international financial markets regulation roundtable in London. The agenda and engagement focused on rapidly evolving technologies — with emphasis on the increasing integration of artificial intelligence, the proliferation of cyber threats, and the rapid adoption of digital assets across global financial markets.[1]
    During the Emergent Technologies Roundtable, Commissioner Johnson explained “AI holds significant promise for making financial services more inclusive, efficient, and accessible. But its deployment must be underpinned by robust governance, ethical design, and global regulatory collaboration. For global regulatory leadership … the challenge is to balance innovation with stability, openness with security and privacy protections, and the benefits of automation with the value of human oversight.”  
    Reflecting on the need for effective governance, Commissioner Johnson explained that “governance — at the firm level and the system level — matters more than ever. Fintechs must invest in model risk management, ethical design, and responsible data practices. Supervisory approaches must evolve to keep pace with the changes occurring in the markets subject to our supervision.”
    The Roundtable also explored issues of operational resilience in the face of mounting cyber attacks launched by sophisticated actors operating from dark corners in many jurisdictions around the world with the potential to severely disrupt local and global financial markets. “Cyber resilience is a critical gateway issue for protecting market integrity, and an area where we need to be ‘all hands on deck’ on both sides of the pond. Cyber resilience is only as strong as its weakest link. It is important to stay vigilant and collaborate closely on best practices and lessons learned,” Commissioner Johnson said. 
    According to Commissioner Johnson, “convening regulators offers an exceptional opportunity for colleagues to share learning and understanding on emerging and persistent issues that directly impact market integrity, stability, and security. It has been my pleasure to coordinate an annual conversation among regulators each year of my service as a Commissioner.” 
    Roundtable attendees included representatives of the Federal Reserve Bank of Chicago, the Bank of England, the Financial Conduct Authority, Banco de España (the central bank of Spain), the European Securities and Markets Authority,  Deutsche Bundesbank (the central bank of the Federal Republic of Germany), the Comisión National del Mercado de Valores (the Spanish Securities Market Commission),the City of London, the Financial Action Task Force, the Cambridge Centre for Alternative Finance, and the London School of Economics Law School, among others.
    The attendees discussed a number of issues, including regulatory responses to cyber threats and operational resilience for systemically important financial institutions and market participants; risk management concerns and effective oversight of non-financial institution third party service providers; the impact of increasing reliance on AI; and strategies to enhance integrity, stability, and accountability in global financial markets. 
    “I extend my gratitude to the roundtable attendees,” Commissioner Johnson continued. “Hopefully, the insightful dialogue inspires harmonization, coordination, and collaboration across financial banking and market regulation.” 

    MIL OSI USA News –

  • MIL-OSI USA: Travel Advisory: Weekend Lane and Ramp Closures Needed at I-295/Route 37 Interchange in Cranston for Opening of New Flyover Bridge

    Source: US State of Rhode Island

    Starting on Friday night, July 25, the Rhode Island Department of Transportation (RIDOT) will have lane and ramp closures lasting through the weekend at the I-295/Route 37 interchange in Cranston. During this time, RIDOT will complete construction on a new flyover ramp that will carry drivers from Route 37 East to I-295 North.

    The closures begin at 8 p.m. Friday and remain in place through 5 a.m. Monday, July 28. Motorists should plan additional time for travel. The affected lanes and ramps include:

    I-295 North & South: The high-speed lane will be closed for both northbound and southbound drivers, reducing the number of travel lanes on I-295 from two to one.

    Route 37 East to I-295 North: The ramp will be closed. Drivers should remain on Route 37 East and use the Route 2 interchange to reverse direction onto Route 37 West, then use the I-295 North ramp.

    The new ramp was built as part of RIDOT’s Cranston Canyon project, and will take traffic over I-295 North so drivers will enter the highway on the right-hand side instead of the left-hand side. This more conventional design will improve safety and reduce crashes.

    When the new flyover bridge opens, RIDOT also will open a new service road alongside I-295 North at the ramps for Route 37. This will provide more room for traffic entering and exiting the highway in a separate lane from I-295 through traffic.

    The new flyover bridge is being constructed as part of a larger $85 million project to make numerous improvements, rebuild six bridges and build one new bridge along the Route 37 corridor west of Pontiac Avenue in Cranston. It includes a number of improvements to improve safety and reduce congestion at the interchange of Route 37 and I-295 and along I-295 itself in the section commonly known as the “Cranston Canyon” because of the rocky walls along the highway. Last year RIDOT completed work on a third travel lane from Route 37 all the way to Route 6 to reduce chronic backups often occurring during rush hour.

    It is the second of three Route 37-focused projects, representing more than $300 million of improvements to address all bridges and safety concerns along the entire highway. Route 37 is a critical east-west freeway in central Rhode Island, linking the cities of Cranston and Warwick, major retail, office and residential areas, Interstate highways and Rhode Island T.F. Green International Airport. With a daily traffic count of 42,000 vehicles, Route 37 is one of the state’s busiest corridors.

    All construction projects are subject to changes in schedule and scope depending on needs, circumstances, findings and weather.

    The construction of the new flyover bridge is made possible by RhodeWorks. RIDOT is committed to bringing Rhode Island’s infrastructure into a state of good repair while respecting the environment and striving to improve it. Learn more at www.ridot.net/RhodeWorks.

    MIL OSI USA News –

  • MIL-OSI Security: Nevada Nurse Practitioner Pleads Guilty to Fraudulent Medicare Wound Care Billing

    Source: US FBI

    LAS VEGAS – A Las Vegas nurse practitioner pleaded guilty today to conspiring to fraudulently bill Medicare for amniotic wound allografts for patients that were medically unreasonable and unnecessary in exchange for illegal health care kickbacks.

    Mary Huntly, 67, was charged with one-count of conspiracy to defraud the United States and pay and receive health care kickbacks. United States District Judge James C. Mahan scheduled sentencing for October 15, 2025.

    According to court documents and admissions made in court by Huntly, she applied medically unnecessary allografts to Medicare beneficiaries that were procured through illegal kickbacks and bribes. Huntly admitted that, from September 2022 through April 2024, her wound care company fraudulently billed Medicare approximately $14,333,550, and Medicare paid approximately $9,105,563 based on those false claims.

    “The defendant applied medically unnecessary allografts for patients and received millions in illegal kickbacks from the fraudulent Medicare claims,” said United States Attorney Chattah for the District of Nevada. “We are committed to working with our partners at the FBI, HHS-OIG, and DCIS to pursue and hold criminal actors accountable for preying on vulnerable citizens and stealing from health care programs.”

    “Medicare and Medicaid, crucial components of our nation’s health care system, are funded by a limited pool of resources,” said Special Agent in Charge Amir Ehsaei for the FBI Las Vegas Division. “Mary Huntly admitted to exploiting the system and taking advantage of America’s most vulnerable populations. She was a trusted healthcare provider, focusing on wound care, and her abuse is significant. The FBI and our federal partners will continue to bring rapacious healthcare professionals like Huntly to justice.”

    “Health care professionals who aim to enrich themselves by performing medically unnecessary procedures undermine the integrity of Federal health care programs and expose their patients to potential harm,” said Deputy Inspector General for Investigations Christian J. Schrank with the U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG, working closely with our law enforcement partners, will continue to aggressively pursue those who commit health care fraud.”

    At sentencing, Huntly faces a maximum statutory penalty of five years in prison. A federal district court judge will determine the sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division; United States Attorney Sigal Chattah for the District of Nevada; Special Agent in Charge Amir Ehsaei for the FBI Las Vegas Division; Deputy Inspector General for Investigations Christian J. Schrank of the Department of Health and Human Services Office of Inspector General; and Acting Special Agent in Charge John E. Helsing for the Department of Defense Office of Inspector General, Defense Criminal Investigative Service (DCIS), Western Field Office made the announcement.

    This case was investigated by the FBI, HHS-OIG, and DCIS. The case is being prosecuted by Assistant U.S. Attorney Jessica Oliva of the District of Nevada and Trial Attorneys Monica Cooper of the Texas Strike Force and Shane Butland of the National Rapid Response Strike Force.

    The Fraud Section leads the Criminal Division’s efforts to combat health care fraud through the Health Care Fraud Strike Force Program. Since March 2007, this program, currently comprised of nine strike forces operating in 27 federal districts, has charged more than 5,800 defendants who collectively have billed federal health care programs and private insurers more than $30 billion. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with HHS-OIG, are taking steps to hold providers accountable for their involvement in health care fraud schemes. More information can be found at www.justice.gov/criminal-fraud/health-care-fraud-unit.

    ###

     

     

    MIL Security OSI –

  • MIL-OSI Security: California Man Indicted for Scheme to Defraud New Jersey Company of Millions of Dollars

    Source: US FBI

    NEWARK, N.J. – A California man has been indicted for fraudulently obtaining millions of dollars from a victim company based in New Jersey, U.S. Attorney Alina Habba announced.

    Joseph Rodriguez, 70, of Irvine, California, is charged by indictment with three counts of wire fraud.  Rodriguez was arrested yesterday and appeared before U.S. Magistrate Judge John D. Early in Santa Ana, California federal court.

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

    In January 2015, Rodriguez, through his company Old American Incorporated, entered into a factoring agreement with a New Jersey company (identified in the indictment as “Victim-1”) to obtain loans secured or collateralized by accounts receivable.  Under the factoring agreement, in which a business sells its outstanding invoices to a third party for immediate cash, Old American retained control over customer relationships and debt collection and was required to pay back Victim-1 directly within 90 days.

    From February 2023 through July 2023, Rodriguez submitted to Victim-1 fraudulent invoices for future accounts receivable that Rodriguez represented were owed to Old American.  In fact, the customers listed in the invoices Rodriguez provided to Victim-1 did not owe any money to Old American for any outstanding invoices, and there were no accounts payable to turn over.  Based on the fraudulent invoices, Victim-1 made millions of dollars of advance payments to Rodriguez, which he did not return.

    Each of the wire fraud charges carries a maximum penalty of 20 years in prison and a maximum fine of up to $250,000, or twice the gross gain to the defendant or loss to the victim, whichever is greatest.

    U.S. Attorney Habba credited special agents of the Federal Bureau of Investigation, under the direction of Special Agent in Charge Stefanie Roddy in Newark, with the investigation leading to the charges.

    The government is represented by Assistant U.S. Attorneys Farhana C. Melo and Benjamin D. Bleiberg of the Economic Crimes Unit in Newark.

    The charges and allegations contained in the indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

                                                                                         ###

    MIL Security OSI –

  • MIL-OSI Security: Florida Man Admits Role in $4.8 Million Health Care Fraud and Kickback Scheme

    Source: US FBI

    NEWARK, N.J. – A Florida man today admitted his role in a health care fraud and kickback scheme that caused more than $4.8 million in losses to Medicare, United States Attorney Alina Habba announced.

    Charles P. Kasbee, Jr., 48, of Palm Beach Shores, Florida, pleaded guilty before U.S. District Judge Michael E. Farbiarz in Newark to an Information charging him with one count of conspiracy to commit health care fraud and one count of conspiracy to violate the federal Anti-Kickback Statute.

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

    From February 2019 to September 2019, Kasbee and his co-conspirators participated in a scheme to submit claims to Medicare for medically unnecessary cancer genetic screening (CGX) tests that were procured through a web of bribes and kickbacks.  Kasbee utilized the services of marketing call centers, which employed deceptive telemarketing techniques to obtain Medicare beneficiaries’ personal and medical information.  Then, Kasbee and others arranged for CGX testing kits to be sent to the identified beneficiaries.  Once the CGX test kits were completed by the beneficiaries, the kits were shipped to a testing laboratory, which submitted claims for reimbursement to Medicare.  Kasbee received kickback payments exceeding $1,200 for each CGX test resulting in Medicare reimbursement.

    To conceal the scheme, Kasbee entered into contracts with his co-conspirators that falsely labeled kickback and bribe payments as “expenses.”  Then, Kasbee and his co-conspirators created false invoices that disguised the true reasons for the kickback and bribe payments.  Instead, Kasbee received payments based solely on the number of CGX tests that Medicare reimbursed, in violation of the federal Anti-Kickback Statute.    

    As a result of the health care fraud and kickback scheme, Kasbee and his co-conspirators caused a loss to Medicare of more than $4.8 million.

    Conspiracy to commit health care fraud carries a maximum potential penalty of 10 years in prison and a $250,000 fine.  Conspiracy to violate the federal Anti-Kickback Statute carries a maximum potential penalty of five years in prison and a $250,000 fine. Sentencing is scheduled for November 19, 2025.

    U.S. Attorney Habba credited special agents of the FBI, under the direction of Special Agent in Charge Stefanie Roddy in Newark; the Department of Health and Human Services-Office of Inspector General, under the direction of Special Agent in Charge Naomi Gruchacz; the U.S. Department of Defense, Office of the Inspector General, Defense Criminal Investigative Service, under the direction of Acting Special Agent in Charge Christopher Silvestro; and the U.S. Department of Veterans Affairs Office of Inspector General, under the direction of Special Agent in Charge Christopher F. Algieri with the investigation leading to the charge.

    The government is represented by Assistant U.S. Attorney Garrett J. Schuman of the Health Care Fraud and Opioid Enforcement Unit.

                                                               ###

    Defense counsel:  Joshua S. Lowther, Esq., Atlanta, GA

    MIL Security OSI –

  • MIL-OSI Security: New York Man Admits Health Care Fraud Scheme for Submitting Falsified Prescriptions to Medicare and Medicaid

    Source: US FBI

    NEWARK, N.J. – A New York man admitted his role in a scheme to defraud Medicare and Medicaid by submitting falsified prescriptions, U.S. Attorney Alina Habba announced today.

    Thomas Conzo, 49, of Staten Island, New York, pleaded guilty today, before U.S. District Judge Michael A. Shipp in Trenton federal court to an information charging him with one count of health care fraud.

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

    Defendant Thomas Conzo owned and operated Elite Pharmacy, a specialty pharmacy located in Linden, New Jersey. From August 2022 through March 2023, Conzo submitted hundreds of thousands of dollars of fraudulent claims for prescriptions to health care benefit programs, including Medicare and Medicaid, on behalf of Elite Pharmacy.  Conzo used the credentials of pharmacists who did not work at Elite Pharmacy or otherwise review, sign, or authorize those prescriptions.

    The charge of health care fraud is punishable by a maximum potential penalty of 10 years in prison and a fine of $250,000, or twice the gross profit or loss caused by the offense, whichever is greatest. Sentencing is scheduled for December 4, 2025.

    U.S. Attorney Habba credited special agents of the U.S. Postal Inspection Service in Newark, under the direction of Inspector in Charge Christopher A. Nielsen, Philadelphia Division; special agents of the Internal Revenue Service – Criminal Investigation, under the direction of Special Agent in Charge Jenifer Piovesan in Newark; and special agents of the Federal Bureau of Investigation, under the direction of Acting Special Agent in Charge Stefanie Roddy, with the investigation leading to the charges.

    The government is represented by Assistant U.S. Attorney George Brandley of the Health Care Fraud and Opioids Enforcement Unit in Newark.

                                                               ###

    Defense counsel:  Maria Noto, Esq. 

    MIL Security OSI –

  • MIL-OSI Security: Former Real Estate Investment Coach Pleads Guilty to Wire Fraud in Connection with a $3 Million Dollar Real Estate Investment Scheme

    Source: US FBI

    CONCORD – A Manchester woman plead guilty today in federal court for operating a fraudulent real estate investment scheme, Acting U.S. Attorney Jay McCormack announces.

    Robynne Alexander, age 63, plead guilty in federal court to one count of wire fraud. U.S. District Court Judge Samantha D. Elliott scheduled Alexander’ sentencing for October 15, 2025.

    According to the charging documents and statements made in court, beginning in 2018, the defendant, previously a real estate investment coach, began raising funds from her coaching clients for a New England real estate venture, Raxx‑LeMay, LLC. Despite promising to acquire and renovate two commercial properties in Manchester she only raised $700K of the $2M minimum required by the May 2018 deadline. Among the terms of her agreement with investors, if the minimum dollar amount was not raised by that date, investors were to get their money back with interest. Despite not having raised the required minimum dollar amount, the defendant did not return investor money with interest, but instead proceeded to use investor money for purposes that were not permitted under the offering terms. Nevertheless, she completed the purchase in July 2018 using expensive hard‑money loans and improperly diverted investor funds to other entities she controlled, to repay outside investors, and to fund additional projects.

    Over the next few years, the defendant used investor capital across multiple projects without proper authority or disclosure. For example, she transferred the Raxx‑LeMay properties to a new entity she controlled in early 2022, despite lacking investor approval, leaving Raxx‑LeMay with no assets and investors with total losses of about $850,000. In a separate project, Elm and Baker, LLC, Alexander solicited $750,000 to convert a Manchester property to apartments but diverted more than half of the funds to repay unrelated investors and personal loans, culminating in foreclosure on that property in 2023. Similarly, in late 2022, she solicited funds for a large‑scale resort project in Laconia receiving $250,000 from investors toward the purchase before misappropriating at least $75,000 and ultimately failing to close on the property, causing the project to dissolve. Across at least eight ventures, the defendant defrauded at least 24 investors of roughly $3,023,000.

    The charging statute provides for a sentence of up to 20 years of imprisonment. The statute provides for a supervised release term of up to 3 years, and a maximum fine of $250,000 or twice the pecuniary gain, whichever is greater. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    The Federal Bureau of Investigation led the investigation.  The Securities and Exchange Commission and the New Hampshire Bureau of Securities Regulation provided valuable assistance. Assistant U.S Attorney John J. Kennedy is prosecuting the case.

     

    ###

    MIL Security OSI –

  • MIL-OSI USA: Alford, Colleagues Introduce Resolution Recognizing the 509th and 131st Bomb Wings’ Successful Execution of Operation Midnight Hammer

    Source: United States House of Representatives – Representative Mark Alford (Missouri 4th District)

    Today, Congressman Mark Alford (MO-04) was joined by Congressmen Tony Gonzales (TX-23) and Don Davis (NC-01) in introducing a House Resolution to congratulate the Airmen of the 509th and 131st Bomb Wings for successfully completing Operation Midnight Hammer.

    “Under the leadership of President Donald J. Trump, Operation Midnight Hammer was executed with unparalleled coordination, precision, and competence to decapitate Iran’s nuclear program,” said Congressman Alford. “The men and women of the 509th and 131st Bomb Wings out of Whiteman Air Force Base showed their exemplary dedication and skill. They deserve the recognition of the American people’s elected representatives. That’s why I’m proud to introduce this Resolution to honor their service and success.”

    “The B-2s’ historic precision strikes on Iran’s nuclear facilities highlighted the unparalleled capability of the United States military, as well as the exceptional bravery of the bomber and fighter pilots, crew members, and maintenance teams who flawlessly executed the mission,” said Congressman Davis. “These individuals are our heroes who have effectively worked to protect America and our allies in response to increasing threats from the Iranian regime and its terrorist proxies.”

    “During my 20 years of military service, including multiple campaigns in the Middle East, I served side by side with the finest troops in the world. No matter what the mission is, American servicemembers always rise to the challenge, and Operation Midnight Hammer in Iran is no exception. There is no other military in the world that could have executed a precision strike on nuclear sites with such excellence, and the men and women who made it happen deserve full recognition for their efforts,” said Congressman Tony Gonzales.

    Read the full text of the resolution here.

    The resolution is also cosponsored by Rep. John Carter (TX-31), Rep. Sam Graves (MO-06), and Rep. Juan Ciscomani (AZ-06).

    Missouri’s Fourth Congressional District, which Congressman Alford represents, includes Whiteman Air Force Base, home of the B-2 Stealth Bomber, the Air Force’s 509th Bomb Wing, and the Air National Guard’s 131st Bomb Wing. Congressman Alford is also the Co-chair of the Congressional Long Range Strike Caucus.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Congressman Moran Votes to Strengthen National Defense and Support America’s Servicemembers

    Source: Congressman Nathaniel Moran (R-TX-01)

    Congressman Moran Votes to Strengthen National Defense and Support America’s Servicemembers

    The FY26 Defense Appropriations Bill Reins in Wasteful Spending and Invests in Military Readiness

    Washington, D.C., July 18, 2025

    Congressman Nathaniel Moran (R-TX-01) released the following statement after voting in favor of the Fiscal Year 2026 Defense Appropriations Act (H.R. 4016), which passed the U.S. House of Representatives today:

    “Under President Trump’s leadership, we’re finally rebuilding the strength and resolve of our Armed Forces. This bill reflects that effort—by investing in servicemembers, eliminating waste, countering foreign threats like China and Iran, and ensuring our defense dollars are focused on combat readiness, not left-wing social experiments.

    “The FY26 Defense Appropriations Act supports our troops, prioritizes taxpayer accountability, and delivers critical investments for military families across East Texas. I was proud to vote for this bill and will continue standing with those who defend our nation.”

    Securing Texas Wins

    • Increases funding for pay and benefits for active-duty military and reserve personnel across all branches, including over $10.2 billion for the Army National Guard and $5.3 billion for the Air National Guard, both with strong Texas footprints.
    • Delivers $575+ million for environmental restoration across Army, Navy, and Air Force installations, including former sites in Texas.
    • Provides over $36.9 billion for shipbuilding and naval modernization, supporting Gulf Coast industrial jobs tied to defense manufacturing.
    • Maintains support for hypersonic and next-generation weapons research, much of which is based in Texas institutions.

    Cutting Waste, Refocusing Defense Priorities

    • Saves taxpayer dollars by reducing inefficient Pentagon programs and bureaucratic offices.
    • Blocks efforts to consolidate legislative liaison offices that reduce transparency and Congressional oversight.

    Securing the Border and Combating Terrorism 

    • Fully funds $357 million for the Counter-ISIS Train and Equip Fund, including tight vetting restrictions to prevent funding terrorist-linked individuals or groups.
    • Expands National Guard and Reserve Equipment Procurement by $800 million, bolstering homeland defense and disaster response readiness.
    • Allocating approximately $13 billion for missile defense and space programs to augment and integrate in support of the Golden Dome effort.

    Deterring China, Iran, and Other Foreign Adversaries

    • Increases funding for DOD’s Cooperative Threat Reduction program ($282 million) to reduce chemical, biological, and nuclear risks, particularly from regimes like Iran and North Korea.
    • Provides new authority and funding for DOD-led cybersecurity and supply chain risk reduction to block Chinese espionage and hacking efforts.

    Ensuring Oversight & Accountability

    • Requires quarterly public reporting to Congress on use of funds for foreign military assistance and classified operations.
    • Expands restrictions on use of funds for procurement from countries hostile to U.S. national security interests.

    You can learn more about the FY26 Defense Appropriations Act HERE.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Q&A: Organized Retail Crime Costs Families $500 Annually

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    Q: How does organized retail crime impact Main Street businesses and customers?

    A: Organized crime syndicates are rampaging retail stores and cargo fleets across the country through sophisticated criminal schemes. It’s costing businesses and consumers billions of dollars a year. We’re not talking about a kid stealing a candy bar or pack of gum near the checkout counter. These schemes include cybercrime, fraud and other complex cons that have surged in recent years, with the average loss per cargo theft incident exceeding $200,000. Transnational criminal organizations target U.S. shippers, retailers and the supply chain with aggressive tactics overwhelming local law enforcement. Cargo theft costs the supply chain up to $35 billion each year, contributing to higher consumer prices and driving up insurance costs.

    According to the National Retail Federation, more than 73 percent of retailers report shoplifters are exhibiting more violence and aggression than the previous year, putting their employees, customers and law enforcement and security personnel at risk. These orchestrated crimes plunder large quantities of merchandise from retail stores, warehouses and the supply chain. Then criminal enterprises turn around to resell the stolen goods online or through other illicit channels for profit. As chairman of the Senate Judiciary Committee, I held a congressional hearing in July to hear from retailers, shippers and others impacted along the supply chain by these crimes. An executive with the American Trucking Association called for a coordinated federal response to address this dangerous and costly criminal activity and backed my bipartisan bill, the Combatting Retail Crime Act, to establish a multi-agency response, giving law enforcement new tools to respond to the surge in cargo theft across the country.

    At the hearing I brought up recent efforts by the U.S. Department of Justice that indicted 11 defendants, including nine illegal immigrants, with stealing nearly a half-million dollars of Nike shoes from rail cars. Even more serious is when criminals steal from the food supply chain, like from a pallet of groceries or infant formula, since they break the safety seal of the shipping container and ruin the entire cargo container of goods. I also brought up another investigation that connected thefts at a mall in Katy, Texas to a cartel that’s believed to be responsible for over $100 million in theft across the country. It’s a sweeping problem that demands swift justice. Homeland Security Investigations estimate the average American family will pay more than $500 in additional costs each year due to organized retail crime.

    Q: How would your bill combat these crimes?

    A: A few years ago, I convened a roundtable in Cedar Rapids to hear concerns and learn from local retail leaders and law enforcement about the rise in organized retail crimes. Since then, I’ve pushed for a coordinated response at the federal level. The Department of Homeland Security has found that cartels, terrorists and human traffickers facilitate organized retail and supply chain crime and use the proceeds to finance other crimes. It’s a criminal hamster wheel that spans the globe and demands an informed and beefed up response from the nation’s counterterrorism and intelligence agencies. At the Senate hearing in July, I asked the District Attorney for San Diego County why it’s important for prosecutors to aggregate the value of stolen goods. She explained that aggregation distinguishes between someone who shoplifts food to eat from the repeat criminal offender who goes into a store with a calculator to stay under a $950 threshold so that the criminal would only be subject to a misdemeanor. That misguided policy led to retail stores locking up merchandise, instead of prosecutors locking up the perpetrators stealing the merchandise. I was pleased to hear California changed this poppycock policy to allow prosecutors to aggregate stolen merchandise in the pursuit of justice. I’ll continue pushing in Congress for criminal action to be met with criminal punishment.

    MIL OSI USA News –

  • MIL-OSI USA: National Anti-Counterfeiting Month Resolution Unanimously Passes Senate

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) and Sen. Chris Coons (D-Del.), co-chairs of the Congressional Trademark Caucus, welcomed the Senate’s unanimous passage of their resolution designating July as “National Anti-Counterfeiting and Consumer Education and Awareness Month.” The bipartisan effort aims to drive awareness of the economic importance of trademarks and their role in protecting consumers.

    Grassley and Coons are joined on the resolution by Sens. Thom Tillis (R-N.C.) and Mazie Hirono (D-Hawaii).

    “Counterfeit products threaten our economy and consumers’ health and well-being,” Grassley said. “I’m glad to lead this bipartisan effort to educate Americans on the dangers of illicit knockoffs and the economic value of trademarks.”

    “Americans should have confidence that the products they’re buying are legitimate and safe – that they have been tested for dangerous chemicals, comply with regulatory standards and aren’t supporting criminal enterprises,” Coons said. “Businesses should be able to protect and sell their innovative products without fear that every new idea will be stolen. My resolution with my Congressional Trademark Caucus co-chair, Senator Grassley, protects American businesses, the public and our economy by raising awareness of counterfeit goods, and I’m glad the Senate has shown it shares this goal by unanimously passing our resolution.”

    “Counterfeit products hurt American businesses and put consumers at serious risk,” Tillis said. “I’m proud to support this resolution recognizing the importance of trademark protections and raising awareness on the dangers of counterfeiting.”

    “The true cost of counterfeiting cannot be measured in dollars alone, but in the injuries to consumers caused by often dangerous fakes, in diminished investments to drive the next wave of innovation by American businesses, in jobs lost to unfair competition, and increasingly, by the threats such products pose to our national security,” said Travis Johnson, Vice President for Legislative Affairs of the International Anti-Counterfeiting Coalition. “We applaud the passage of S.Res. 314, and thank the sponsors – Senator Grassley, Senator Coons, Senator Hirono and Senator Tillis – both for their leadership on this issue, and for their recognition of the vital role that education can play in helping to protect consumers, legitimate businesses and the economy as a whole.”

    “Illicitly traded goods—including apparel, footwear, accessories, and travel goods—undermine trusted American brands but also threaten the jobs and livelihoods of millions of U.S. workers and the safety of American consumers and the environment. Thank you to Senator Grassley and Senator Coons for again recognizing the need for this ‘National Anti-Counterfeiting and Consumer Education and Awareness Month’ – bringing vital attention to the role trademarks play in both the U.S. economy and the protection of consumers. AAFA applauds these essential national efforts to continue to raise consumer awareness of the dangerous and growing counterfeit crisis,” said Steve Lamar, President and CEO of the American Apparel & Footwear Association.

    Read the full resolution HERE.

    Background:

    As co-chair of the Congressional Trademark Caucus and former chairman of the Senate Finance Committee, Grassley is a longtime advocate for consumer safety and intellectual property rights. In 2021, the Grassley-backed INFORM Consumers Act was signed into law, ensuring transparency of third-party sellers in online retail marketplaces. Grassley has also introduced legislation to halt counterfeit imports and spearheaded a resolution highlighting the dangers of counterfeit prescription drugs.

    -30-

    MIL OSI USA News –

  • CIL pledges ₹10 crore to enhance tribal education in Chhattisgarh’s Eklavya Model Residential Schools

    Source: Government of India

    Source: Government of India (4)

    In a significant move to uplift tribal education, the Ministry of Tribal Affairs (MoTA) and Coal India Ltd (CIL) on Friday signed a landmark Memorandum of Understanding (MoU) to enhance the quality of education for over 28,000 tribal students across 68 Eklavya Model Residential Schools (EMRS) in Chhattisgarh. Under its Corporate Social Responsibility (CSR) initiative, CIL has committed ₹10 crore to support digital education, health, and entrepreneurship programs for these students.

    The Eklavya Model Residential Schools, established by MoTA, provide quality education to Scheduled Tribe (ST) children, equipping them for higher education and professional opportunities while ensuring their nutrition and overall development. Currently, 479 EMRS are operational nationwide. This collaboration aims to create a modern, innovative learning environment and foster equal opportunities for students from marginalized communities.

    CIL’s contribution will fund the establishment of computer labs with approximately 3,200 computers and 300 tablets to promote digital education. Additionally, the initiative will prioritize the health and hygiene of girl students by installing around 1,200 sanitary napkin vending machines and incinerators in schools and hostels. The program also includes comprehensive mentorship for students and residential entrepreneurial boot camps at prestigious institutions like IIT, IIM, and NIT to cultivate an entrepreneurial mindset among tribal youth.

    Implemented through the National Scheduled Tribes Finance and Development Corporation (NSTFDC), a Section 8 company under MoTA, this initiative aligns with the National Education Policy (NEP) 2020, emphasizing equitable and inclusive education.

  • MIL-OSI USA: Attorney General Alan Wilson announces Anderson Co. man sentenced for sexually assaulting minorRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – Attorney General Alan Wilson announced that an Anderson County man has been sent to prison for sex crimes against minors. On July 16th, Julio Cesar De La Cruz Reyes pleaded guilty to one count of Criminal Sexual Conduct with a Minor, 3rd degree, and one count of Sexual Exploitation of a Minor, 2nd degree.

    On August 18, 2023, Special Investigator Kevin Atkins with the South Carolina Attorney General’s Office conducted a proactive investigation into the use of a file-sharing network for the distribution and possession of Child Sexual Abuse Material. While conducting this investigation, Investigator Atkins discovered a user of the network sharing files. Further investigation revealed that the files were being shared from the Anderson County residence of Julio Reyes. A search warrant was executed at the home on February 9, 2024. When law enforcement talked to Reyes, he admitted ownership of the child sexual abuse material. He also disclosed that in addition to watching and sharing child sexual abuse material, he had sexually assaulted a minor in Anderson County. Reyes was taken into custody at that time. A forensic examination of his cell phone was done by forensic examiner Jamie Johnson of the South Carolina Attorney General’s office. In all, 392 images and videos of child sexual abuse material were found on the device, including images of babies and toddlers.

    Judge R. Lawton McIntosh sentenced Reyes to 15 years at the SC Department of Corrections on the CSC with a Minor, 3rd degree charge, and 10 years at the SC Department of Corrections on the Sexual Exploitation of a Minor, 2nd degree charge. These sentences will run concurrently, and he received credit for 527 days of time served. He will have to register as a sex offender.

    MIL OSI USA News –

  • MIL-OSI USA: 325th Fighter Wing leads the way during Red Flag-Alaska 25-3

    Source: United States Air Force

    Headline: 325th Fighter Wing leads the way during Red Flag-Alaska 25-3

    Airmen and F-325A Lightning II aircraft from the 325th Fighter Wing led RED FLAG-Alaska 25-3, a large-scale joint combat training exercise at Eielson AFB. The deployment marked the wing’s first major overseas exercise since Hurricane Michael in 2018 and test their ability to operate in unfamiliar, high-threat environments.

    MIL OSI USA News –

  • MIL-OSI: Nasdaq statement on the preliminary proxy filed by Invesco QQQ Trust and the proposals contained within it

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 18, 2025 (GLOBE NEWSWIRE) — Today, Nasdaq issued the following statement on the preliminary proxy filed by Invesco QQQ Trust and the proposals contained within it.

    Nasdaq is aware of the preliminary proxy that was filed by Invesco QQQ Trust and the proposals contained within it. Invesco and Nasdaq were engaged in dialogue as Invesco explored bringing these proposals to shareholders.

    The proposed change to the Trust structure does not alter the terms of Nasdaq’s licensing arrangements with Invesco nor the administration of the Nasdaq-100® Index. If the proposals are approved, Invesco will pay the associated license fee out of its unitary management fee, as compared to the current state where the license fee is paid by QQQ directly.

    We remain committed to our strategic partnership with Invesco and delivering the trusted benchmark on which investors rely.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

    Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, statements regarding our future financial results and our partnerships, agreements, products and services. Further information on these and other factors are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q, which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise

    -NDAQF-

    Media Contacts: Maximilian Leitenberger, Nasdaq, Maximilian.leitenberger@nasdaq.com

    Investor Relations Contact: Ato Garrett, Ato.Garrett@Nasdaq.com

    The MIL Network –

  • MIL-OSI: Nasdaq statement on the preliminary proxy filed by Invesco QQQ Trust and the proposals contained within it

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 18, 2025 (GLOBE NEWSWIRE) — Today, Nasdaq issued the following statement on the preliminary proxy filed by Invesco QQQ Trust and the proposals contained within it.

    Nasdaq is aware of the preliminary proxy that was filed by Invesco QQQ Trust and the proposals contained within it. Invesco and Nasdaq were engaged in dialogue as Invesco explored bringing these proposals to shareholders.

    The proposed change to the Trust structure does not alter the terms of Nasdaq’s licensing arrangements with Invesco nor the administration of the Nasdaq-100® Index. If the proposals are approved, Invesco will pay the associated license fee out of its unitary management fee, as compared to the current state where the license fee is paid by QQQ directly.

    We remain committed to our strategic partnership with Invesco and delivering the trusted benchmark on which investors rely.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

    Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, statements regarding our future financial results and our partnerships, agreements, products and services. Further information on these and other factors are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q, which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise

    -NDAQF-

    Media Contacts: Maximilian Leitenberger, Nasdaq, Maximilian.leitenberger@nasdaq.com

    Investor Relations Contact: Ato Garrett, Ato.Garrett@Nasdaq.com

    The MIL Network –

  • MIL-OSI: 21Shares Files for 21Shares FTSE Crypto 10 Index ETF and 21Shares FTSE Crypto 10 ex-BTC Index ETF

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 18, 2025 (GLOBE NEWSWIRE) — 21Shares US LLC today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for two Funds, the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF.

    The exchange-traded funds are the first crypto basket ETFs to be registered under the Investment Company Act of 1940. Each Fund is designed to offer diversified exposure to the crypto market through dedicated indexes, constructed by 21Shares and maintained by FTSE Russell.

    • The 21Shares FTSE Crypto 10 Index ETF tracks a market cap-weighted index of the top ten largest crypto assets globally. This index dynamically adjusts to reflect the size and success of each asset, allowing the market itself to determine the leaders. Larger, more relevant cryptocurrencies naturally hold greater weights, capturing the evolving landscape of the crypto space.
    • The 21Shares FTSE Crypto 10 ex-BTC Index ETF tracks a separate FTSE Russell index that excludes Bitcoin, investing exclusively in cryptocurrencies and blockchain networks that focus on real-world applications beyond Bitcoin’s macro hedge proposition.

    Asset inclusion in the index is subject to a dual-layer research review by both FTSE Russell and 21Shares.

    Structured as 1940 Act funds, the ETFs also offer investors a familiar and more tax-efficient vehicle, qualifying for Form 1099 tax reporting instead of the more complex K-1 forms often associated with other structures.

    “These filings represent a step in 21Shares’ regulatory engagement in the U.S.,” said Federico Brokate, Head of U.S. Business at 21Shares. “Investors are increasingly looking for diversified and easy-to-access ways to participate in the long-term growth of digital assets, and 21Shares aims to provide ETF structures to satisfy this demand, subject to regulatory approval.”

    “The methodology and structure behind our digital asset pricing and indices were developed to give investors strategic allocation tools”, said Kristen Mierzwa, Head of Digital Assets at FTSE Russell. “Collaborating with 21Shares on a market exposure pair – with and without Bitcoin – underscores our commitment to innovation in digital asset investing.”

    21Shares is launching the two Funds in partnership with ETF Solutions by Teucrium, who serves as the adviser and white-label platform supporting the development and efficient market entry of these products.

    A registration statement relating to the Funds has been filed with the SEC but has not yet become effective.

    About 21Shares

    21Shares AG, an affiliate of 21Shares US LLC, the sponsor to the 21Shares FTSE Crypto 10 Index ETF and 21Shares FTSE Crypto 10 ex-BTC Index ETF, is one of the world’s leading cryptocurrency exchange traded product providers, and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialised research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    Media Contact

    Matteo Valli: matteo.valli@21shares.com
    Alethea Jadick: ajadick@sloanepr.com

    Important Information

    The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities or financial instruments in any jurisdiction, including the United States. Some of the information published herein may contain forward-looking statements and readers are cautioned that any such forward-looking statements are not guarantees of future performance, involve risks and uncertainties, and actual results may differ. Additionally, there is no guarantee as to the accuracy, completeness, timeliness, or availability of the information provided and 21.co and its affiliated entities are not responsible for any errors or omissions. The information contained herein may not be considered as economic, legal, tax, or other advice and viewers are cautioned not to base investment or any other decisions on the content hereof. Investments in crypto-related securities involve significant risk, including volatility and regulatory uncertainty. There is no guarantee that the Funds will be approved by the SEC or made available to investors.

    A registration statement relating to the securities of the Index ETFs has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

    The MIL Network –

  • MIL-OSI USA: Wyden, Colleagues Condemn Trump Administration for Letting Credit Union Off the Hook for Overcharging Military Families

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    July 18, 2025

    Washington, D.C. — U.S. Senator Ron Wyden, D-Ore., said today he has joined Senate colleagues in condemning the Trump administration for its recent decision to terminate the consent order against Navy Federal Credit Union (NFCU), effectively excusing it from accountability for charging millions in illegal surprise overdraft fees to their members – primarily active-duty service members, veterans, Department of Defense employees, and their families.

    “In 2024, the CFPB found that between 2017 and 2022, NFCU charged overdraft fees on ATM withdrawals and debit card purchases – even when accounts showed sufficient funds,” the senators wrote in a letter to Consumer Financial Protection Bureau (CFPB) Acting Director Russell Vought. “In response, the Bureau issued a consent order requiring NFCU to pay $95 million in penalties and restitution: $80.6 million directly to harmed consumers and $15 million to the CFPB’s victims relief fund.”

    That order was rescinded on July 1, 2025.

    “As former CFPB officials have noted, this decision raises serious concerns about whether the Bureau is still capable – or even willing – to fulfill its legal mandate,” the senators continue. “At a minimum, the public and Congress deserve answers.”

    The letter was led by U.S. Senator Ruben Gallego, D-Ariz. In addition to Wyden, the letter was cosigned by U.S. Senators Catherine Cortez Masto, D-Nev., Chris Van Hollen, D-Md., Tammy Duckworth, D-Ill., Raphael Warnock, D-Ga., Elizabeth Warren, D-Mass., and Angela Alsobrooks, D-Md.

    “The Trump-era CFPB cannot reverse this consent order and simultaneously claim that it is prioritizing the interests of servicemembers,” said Adam Rust, Director of Financial Services for the Consumer Federation of America. “This action has diverted millions of dollars owed to military families—an unacceptable breach of trust. Acting Director Vought owes the public a clear and immediate explanation.”

    The full text of the letter is here.

    MIL OSI USA News –

  • MIL-OSI: 21Shares Files for 21Shares FTSE Crypto 10 Index ETF and 21Shares FTSE Crypto 10 ex-BTC Index ETF

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 18, 2025 (GLOBE NEWSWIRE) — 21Shares US LLC today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for two Funds, the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF.

    The exchange-traded funds are the first crypto basket ETFs to be registered under the Investment Company Act of 1940. Each Fund is designed to offer diversified exposure to the crypto market through dedicated indexes, constructed by 21Shares and maintained by FTSE Russell.

    • The 21Shares FTSE Crypto 10 Index ETF tracks a market cap-weighted index of the top ten largest crypto assets globally. This index dynamically adjusts to reflect the size and success of each asset, allowing the market itself to determine the leaders. Larger, more relevant cryptocurrencies naturally hold greater weights, capturing the evolving landscape of the crypto space.
    • The 21Shares FTSE Crypto 10 ex-BTC Index ETF tracks a separate FTSE Russell index that excludes Bitcoin, investing exclusively in cryptocurrencies and blockchain networks that focus on real-world applications beyond Bitcoin’s macro hedge proposition.

    Asset inclusion in the index is subject to a dual-layer research review by both FTSE Russell and 21Shares.

    Structured as 1940 Act funds, the ETFs also offer investors a familiar and more tax-efficient vehicle, qualifying for Form 1099 tax reporting instead of the more complex K-1 forms often associated with other structures.

    “These filings represent a step in 21Shares’ regulatory engagement in the U.S.,” said Federico Brokate, Head of U.S. Business at 21Shares. “Investors are increasingly looking for diversified and easy-to-access ways to participate in the long-term growth of digital assets, and 21Shares aims to provide ETF structures to satisfy this demand, subject to regulatory approval.”

    “The methodology and structure behind our digital asset pricing and indices were developed to give investors strategic allocation tools”, said Kristen Mierzwa, Head of Digital Assets at FTSE Russell. “Collaborating with 21Shares on a market exposure pair – with and without Bitcoin – underscores our commitment to innovation in digital asset investing.”

    21Shares is launching the two Funds in partnership with ETF Solutions by Teucrium, who serves as the adviser and white-label platform supporting the development and efficient market entry of these products.

    A registration statement relating to the Funds has been filed with the SEC but has not yet become effective.

    About 21Shares

    21Shares AG, an affiliate of 21Shares US LLC, the sponsor to the 21Shares FTSE Crypto 10 Index ETF and 21Shares FTSE Crypto 10 ex-BTC Index ETF, is one of the world’s leading cryptocurrency exchange traded product providers, and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialised research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    Media Contact

    Matteo Valli: matteo.valli@21shares.com
    Alethea Jadick: ajadick@sloanepr.com

    Important Information

    The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities or financial instruments in any jurisdiction, including the United States. Some of the information published herein may contain forward-looking statements and readers are cautioned that any such forward-looking statements are not guarantees of future performance, involve risks and uncertainties, and actual results may differ. Additionally, there is no guarantee as to the accuracy, completeness, timeliness, or availability of the information provided and 21.co and its affiliated entities are not responsible for any errors or omissions. The information contained herein may not be considered as economic, legal, tax, or other advice and viewers are cautioned not to base investment or any other decisions on the content hereof. Investments in crypto-related securities involve significant risk, including volatility and regulatory uncertainty. There is no guarantee that the Funds will be approved by the SEC or made available to investors.

    A registration statement relating to the securities of the Index ETFs has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

    The MIL Network –

  • MIL-OSI USA: Wyden, Colleagues Condemn Trump Administration for Letting Credit Union Off the Hook for Overcharging Military Families

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)
    July 18, 2025
    Washington, D.C. — U.S. Senator Ron Wyden, D-Ore., said today he has joined Senate colleagues in condemning the Trump administration for its recent decision to terminate the consent order against Navy Federal Credit Union (NFCU), effectively excusing it from accountability for charging millions in illegal surprise overdraft fees to their members – primarily active-duty service members, veterans, Department of Defense employees, and their families.
    “In 2024, the CFPB found that between 2017 and 2022, NFCU charged overdraft fees on ATM withdrawals and debit card purchases – even when accounts showed sufficient funds,” the senators wrote in a letter to Consumer Financial Protection Bureau (CFPB) Acting Director Russell Vought. “In response, the Bureau issued a consent order requiring NFCU to pay $95 million in penalties and restitution: $80.6 million directly to harmed consumers and $15 million to the CFPB’s victims relief fund.”
    That order was rescinded on July 1, 2025.
    “As former CFPB officials have noted, this decision raises serious concerns about whether the Bureau is still capable – or even willing – to fulfill its legal mandate,” the senators continue. “At a minimum, the public and Congress deserve answers.”
    The letter was led by U.S. Senator Ruben Gallego, D-Ariz. In addition to Wyden, the letter was cosigned by U.S. Senators Catherine Cortez Masto, D-Nev., Chris Van Hollen, D-Md., Tammy Duckworth, D-Ill., Raphael Warnock, D-Ga., Elizabeth Warren, D-Mass., and Angela Alsobrooks, D-Md.
    “The Trump-era CFPB cannot reverse this consent order and simultaneously claim that it is prioritizing the interests of servicemembers,” said Adam Rust, Director of Financial Services for the Consumer Federation of America. “This action has diverted millions of dollars owed to military families—an unacceptable breach of trust. Acting Director Vought owes the public a clear and immediate explanation.”
    The full text of the letter is here.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Report confirms Council’s stewardship of public resources is sound

    Source: City of Plymouth

    Plymouth residents can be assured that the City Council meets high standards for how it conducts its affairs and looks after public resources, a new report shows.

    The Council’s draft Annual Governance Statement shows external evaluation and assessments demonstrate it has maintained effective governance arrangements throughout 2024/25 and provided ‘reasonable assurance’ over the conduct of its affairs and stewardship of public resources.

    The report says an Assurance Review by the independent Chartered Institute of Public Finance and Accountancy (CIPFA) gave an overall positive assessment of the Council’s financial position and governance arrangements, noting efficient financial management processes and strong budget ownership.

    The Council also has strong governance over its procurement of goods and services, with a new organisational Procurement Strategy approved incorporating national and local priorities while accounting for upcoming legislative changes including the Procurement Act 2023.

    The Council’s Constitutional Framework is also robust, with refreshed Contract Standing Orders and rules of debate approved following a comprehensive review. Improvements include a legal implications sections added to committee and decision report templates.

    Internal Audit has provided ‘Reasonable Assurance’ on the adequacy and effectiveness of the Council’s internal control framework, while there is also constructive engagement with the Council’s external auditors and government reviewers.

    Council Leader Tudor Evans said: “We take our duty to ensure there is robust governance over decision making and how we spend public money extremely seriously, so it is heartening that we have these assurances from the bodies and systems that oversee this. It is a testament to the hard work and diligence of our finance team and council officers that our audit process provides a high level of confidence in our financial management and our systems and processes.

    “This report shows that those who try and make political capital by claiming the council is not managing its budgets carefully and responsibly are wrong. The evidence from those responsible for assessing and auditing what we do is that we have strong systems and oversight in place and that we are committed to continuing to do all we can to ensure we provide best value for Plymouth residents.”

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Alberta’s Heritage Fund reaches new heights

    [. By investing in the Heritage Fund, by 2050 Alberta will be on the path to energize its economy, create new opportunities and fund projects that make life better for all Albertans.

    This $2.8-billion contribution marks a new record for the fund and keeps the province on track to reach its goal of $250 billion by 2050. The goal is to grow the fund to the point where, after 2050, Alberta would be able to withdraw some of the income the fund earns each year while still allowing it to grow over time. Those withdrawals could help cover fluctuations in resource revenue, invest in important infrastructure and keep taxes low.

    “Alberta is turning resource strength into lasting financial security. By growing the Heritage Fund, we’re strengthening core services like health care and education, while preserving the low-tax Alberta advantage. This $2.8-billion boost to the Heritage Fund is a bold step that sets the province on the path to success and puts Albertans first.”

    Danielle Smith, Premier

    “This investment is a key step in securing a prosperous future with stable revenues and competitive taxes for Albertans today and tomorrow.”

    Nate Horner, President of Treasury Board and Minister of Finance

    Alberta’s government recently launched their plan, Renewing the Alberta Heritage Savings Trust Fund: A Roadmap to Securing Alberta’s Future. This plan outlines how Alberta will grow the Heritage Fund to $250 billion by 2050 through strategic investments, global partnerships and strong governance, securing long-term economic growth and stability. These strategic investments will eventually fund the public services and infrastructure vital to supporting the growing province.

    Central to the plan is the leadership of the Heritage Fund Opportunities Corporation. The updated corporation will modernize the fund’s management and help Alberta access global investment opportunities to create meaningful wealth and future prosperity. Led by board chair Joe Lougheed, the corporation will strengthen the governance of Heritage Fund assets and support investment decisions independent from government.

    “Our role is to ensure the Heritage Fund is managed with the highest standards of governance and independence. By embracing global opportunities and modernizing oversight, we’re safeguarding Alberta’s wealth to deliver steady, long-term prosperity for Alberta’s future generations.”

    Joe Lougheed, chair, Heritage Fund Opportunities Corporation

    This historic boost to Alberta’s Heritage Fund isn’t just about the numbers – it’s about building a future where families thrive, communities grow and Alberta stays strong no matter what comes next.

    Quick facts:

    • Alberta’s government invested $2.8 billion from the 2024-25 surplus cash in the Heritage Fund, growing the fund to $30 billion from $27.2 billion in 2024-25.
      • This is up from $22.9 billion in 2023-24, the previous fiscal year.
    • Alberta’s goal is to grow the fund to $250 billion by 2050.
      • Once $250 billion is reached, interest from the fund will help stabilize resource revenue, invest in infrastructure and keep taxes low.
    • Since 2019-20, the Heritage Fund has grown more than 84 per cent:
      • from $16.3 billion to $30 billion.
    • Since 2022-23, the Heritage Fund has grown more than 41.5 per cent:
      • from $21.2 billion to $30 billion.
    • The board of the Heritage Fund Opportunities Corporation brings together the skills and expertise of Alberta and international leaders in investment management to set Alberta up for long-term success. The current members are:
      • Joe Lougheed, board chair, Alberta
      • Kate White, director, Alberta
      • Jacqueline Curzon, director, Switzerland
      • Jouko Karvinen, director, Finland
      • Chana Martineau, director, Alberta
      • Mary Ritchie, director, Alberta

    Related information

    • Heritage Savings Trust Fund
    • Renewing the Alberta Heritage Savings Trust Fund: a roadmap to securing Alberta’s future

    Multimedia

    • Watch the news conference

    MIL OSI Canada News –

  • MIL-OSI Security: Man who raped girl multiple times jailed

    Source: United Kingdom London Metropolitan Police

    A man who raped and sexually assaulted a girl multiple times has been jailed for 19 years after an investigation by specialist Met detectives.

    Zafar Hussain, 43 (05.02.81) of Bramble Close, SE19 was sentenced to 19 years in prison on Friday, 18 July at Harrow Crown Court, with an additional year to be served on licence. He will also be on the sex offenders’ register indefinitely, and has been made subject to a 25-year sexual harm prevention order.

    He was found guilty at the same court on Wednesday 16 April of six counts of raping a child aged under 13, four counts of sexual activity with a child, one count of sexual assault of a child under 13 and one count of the attempted rape of a child under 13.

    Detective Inspector Tom Palmer, from the North West Area’s Public Protection team, said: “I would like to commend the victim for her bravery in reporting Hussain to us. Her evidence was critical in bringing Hussain to justice for his heinous crimes.

    “I would also like to commend the investigation team who worked tirelessly to secure justice for the victim. Sexual assault and rape cases are never simple to investigate and this case was particularly complex. This did not deter the detectives who worked tirelessly, and where determined to see Hussain get his day in court.

    “I hope this case highlights that the Met is committed to tackling violence against women and girls and that we will thoroughly investigate all allegations of sexual assault, no matter the circumstance.

    The court heard that in June 2022 Hussain first approached the victim, who was 11-years-old at the time, and asked for her social media account details to message her privately.

    Hussain began to bombard the victim with sexual images and videos, and although she initially blocked him from contacting her, he soon persuaded her to resume contact. In January 2023, Hussain picked her up from school and drove to a nearby location where he sexually assaulted her. In March 2023, Hussain raped her twice.

    Over the course of a year, he would arrange to meet the victim after school and take her to a location in his car before raping or sexually assaulting her. He would also shower her with over-the-top gifts, such as Apple Air Pods, jewellery, make-up, and money.

    In 2024, the victim’s mother discovered a series of messages on her daughters’ phone from Hussain which seemed romantic in nature. Suspicious, she spoke to the victim who then said that she had been abused.

    The matter was reported to police on Tuesday, 20 February 2024 and two days later Hussain was arrested.

    Vital evidence, including clothing the victim had worn when last assaulted by Hussain, and her mobile phone were seized. Detectives were able to use mobile phone cell site information to identify the days in which the victim and Hussain’s phone were in the same vicinity and at the same time.

    Automatic number plate recognition enquiries were also completed on Hussain’s vehicle which showed a match to the mobile phone cell site data. Work was completed on Hussain’s social media accounts. Officers were able to link the usage of the phone back to Hussain at his home address.

    DNA from the victim’s clothing was forensically examined and matched samples from Hussain.

    On arrest, Hussain commented to officers that he was in love with the victim. He was charged on Thursday 22 February with 12 offences. A jury found him guilty of all offences.

    In a statement the victim said: “I initially didn’t see what was happening to me as abuse because Zafar had convinced me that it was okay and that he loved me. But now I know that what was happening was wrong and he took advantage of me. He made me feel more like an adult instead of a child. He said bad things about my parents to turn me against them so that I only had him. I trusted him and the things he said to me.

    “Before this happened to me, I used to get really good grades at school, especially in my core subjects which are the most important. However, since what happened to me my grades have dropped quite a lot. I just find it so much harder to focus during my lessons.

    “I am very different at school now, so much quieter than I used to be. Sometimes at night I find it hard to sleep and I end up thinking about it, that can make me upset. My friends don’t know about what happened to me and I can’t talk to them about it. Only my mum and dad know what happened to me, the rest of my family don’t know, and I wouldn’t want them to find out in case they judge me.

    “I was really scared when I first told the police about what happened to me. Things have been hard between my mum and dad since this happened, its affected not only me but my family too. I hope that we can all forget about what happened one day.”

    MIL Security OSI –

  • MIL-OSI Security: Man who raped girl multiple times jailed

    Source: United Kingdom London Metropolitan Police

    A man who raped and sexually assaulted a girl multiple times has been jailed for 19 years after an investigation by specialist Met detectives.

    Zafar Hussain, 43 (05.02.81) of Bramble Close, SE19 was sentenced to 19 years in prison on Friday, 18 July at Harrow Crown Court, with an additional year to be served on licence. He will also be on the sex offenders’ register indefinitely, and has been made subject to a 25-year sexual harm prevention order.

    He was found guilty at the same court on Wednesday 16 April of six counts of raping a child aged under 13, four counts of sexual activity with a child, one count of sexual assault of a child under 13 and one count of the attempted rape of a child under 13.

    Detective Inspector Tom Palmer, from the North West Area’s Public Protection team, said: “I would like to commend the victim for her bravery in reporting Hussain to us. Her evidence was critical in bringing Hussain to justice for his heinous crimes.

    “I would also like to commend the investigation team who worked tirelessly to secure justice for the victim. Sexual assault and rape cases are never simple to investigate and this case was particularly complex. This did not deter the detectives who worked tirelessly, and where determined to see Hussain get his day in court.

    “I hope this case highlights that the Met is committed to tackling violence against women and girls and that we will thoroughly investigate all allegations of sexual assault, no matter the circumstance.

    The court heard that in June 2022 Hussain first approached the victim, who was 11-years-old at the time, and asked for her social media account details to message her privately.

    Hussain began to bombard the victim with sexual images and videos, and although she initially blocked him from contacting her, he soon persuaded her to resume contact. In January 2023, Hussain picked her up from school and drove to a nearby location where he sexually assaulted her. In March 2023, Hussain raped her twice.

    Over the course of a year, he would arrange to meet the victim after school and take her to a location in his car before raping or sexually assaulting her. He would also shower her with over-the-top gifts, such as Apple Air Pods, jewellery, make-up, and money.

    In 2024, the victim’s mother discovered a series of messages on her daughters’ phone from Hussain which seemed romantic in nature. Suspicious, she spoke to the victim who then said that she had been abused.

    The matter was reported to police on Tuesday, 20 February 2024 and two days later Hussain was arrested.

    Vital evidence, including clothing the victim had worn when last assaulted by Hussain, and her mobile phone were seized. Detectives were able to use mobile phone cell site information to identify the days in which the victim and Hussain’s phone were in the same vicinity and at the same time.

    Automatic number plate recognition enquiries were also completed on Hussain’s vehicle which showed a match to the mobile phone cell site data. Work was completed on Hussain’s social media accounts. Officers were able to link the usage of the phone back to Hussain at his home address.

    DNA from the victim’s clothing was forensically examined and matched samples from Hussain.

    On arrest, Hussain commented to officers that he was in love with the victim. He was charged on Thursday 22 February with 12 offences. A jury found him guilty of all offences.

    In a statement the victim said: “I initially didn’t see what was happening to me as abuse because Zafar had convinced me that it was okay and that he loved me. But now I know that what was happening was wrong and he took advantage of me. He made me feel more like an adult instead of a child. He said bad things about my parents to turn me against them so that I only had him. I trusted him and the things he said to me.

    “Before this happened to me, I used to get really good grades at school, especially in my core subjects which are the most important. However, since what happened to me my grades have dropped quite a lot. I just find it so much harder to focus during my lessons.

    “I am very different at school now, so much quieter than I used to be. Sometimes at night I find it hard to sleep and I end up thinking about it, that can make me upset. My friends don’t know about what happened to me and I can’t talk to them about it. Only my mum and dad know what happened to me, the rest of my family don’t know, and I wouldn’t want them to find out in case they judge me.

    “I was really scared when I first told the police about what happened to me. Things have been hard between my mum and dad since this happened, its affected not only me but my family too. I hope that we can all forget about what happened one day.”

    MIL Security OSI –

  • MIL-OSI Security: 325th Fighter Wing leads the way during Red Flag-Alaska 25-3

    Source: United States Air Force

    Airmen and F-325A Lightning II aircraft from the 325th Fighter Wing led RED FLAG-Alaska 25-3, a large-scale joint combat training exercise at Eielson AFB. The deployment marked the wing’s first major overseas exercise since Hurricane Michael in 2018 and test their ability to operate in unfamiliar, high-threat environments.

    MIL Security OSI –

  • MIL-OSI Security: 325th Fighter Wing leads the way during Red Flag-Alaska 25-3

    Source: United States Air Force

    Airmen and F-325A Lightning II aircraft from the 325th Fighter Wing led RED FLAG-Alaska 25-3, a large-scale joint combat training exercise at Eielson AFB. The deployment marked the wing’s first major overseas exercise since Hurricane Michael in 2018 and test their ability to operate in unfamiliar, high-threat environments.

    MIL Security OSI –

  • MIL-OSI New Zealand: NZ joins international condemnation of Russian cyber attacks

    Source: New Zealand Government

    New Zealand has echoed international condemnation of malicious cyber activity by the Russian Government, Foreign Minister Winston Peters says. 

    “Russia’s hostile behaviour in cyberspace continues to threaten global cyber security and undermine agreed international rules and norms,” he says. 

    Mr Peters’ comments follow UK Foreign Secretary David Lammy’s statement today that outlined a campaign of malicious cyber activity by Russia’s General Staff Main Intelligence Directorate (GRU).

    The GRU has undertaken sustained cyber attacks in support of Russia’s war of aggression against Ukraine and enables Russia’s destabilising activity worldwide.

    “New Zealand stands with the UK in calling out this behaviour,” Mr Peters says.

    The United Kingdom has exposed the role of the GRU’s cyber operations in real world events, including the 2018 Novichok poisonings in Salisbury and the bombing of civilian infrastructure in Ukraine. Today it has imposed sanctions on the units and individuals responsible.

    “New Zealand supports international efforts to impose costs on those responsible for Russia’s illegal war against Ukraine,” Mr Peters says.

    “New Zealand will continue to use the Russia Sanctions Act to hold the enablers of Russia’s military to account and press the Russian Government to end its unlawful and unjust war.

    “New Zealand has already sanctioned some of the groups and individuals the United Kingdom has acted against today and officials are providing advice on whether further sanctions are appropriate.”

    To date, New Zealand has imposed sanctions on more than 1,800 entities and individuals under the Russia Sanctions Act 2022, including the Head of the GRU and its cyberwarfare units 74455 and 26165, also known as Sandworm and Fancy Bear respectively.

    MIL OSI New Zealand News –

  • MIL-OSI USA: CFTC Staff Issues No-Action Letter Extension Regarding Position Aggregation Requirements

    Source: US Commodity Futures Trading Commission

    CFTC Staff Issues No-Action Letter Extension Regarding Position Aggregation Requirements | CFTC

    /PressRoom/PressReleases/9095-25
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    July 18, 2025

    WASHINGTON, D.C. — The Commodity Futures Trading Commission’s Division of Market Oversight today issued a no-action letter extending the no-action positions in CFTC Staff Letter No. 22-09 regarding certain position aggregation requirements, which expires Aug.12. 

    -CFTC-

    MIL OSI USA News –