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  • MIL-OSI Economics: Press Briefing Transcript: Managing Director’s Global Policy Agenda, Spring Meetings 2025

    Source: International Monetary Fund

    April 24, 2025

    Speaker: Kristalina Georgieva, Managing Director, IMF

    Moderator: Julie Kozack, Director, Communications Department, IMF

    Ms. Kozack: Good morning, everyone. Welcome to this IMF press briefing. I am Julie Kozack, Director of the Communications Department. Thank you so very much for joining us this morning and, as usual, we are going to begin with some opening remarks from our Managing Director, Kristalina Georgieva, after which we will turn to your questions. Without further ado, Kristalina, over to you.

    Ms. Georgieva: Thank you, Julie. And a very warm welcome to all the journalists who got up early to be with us on this beautiful Thursday morning, and also to those who are online. Great to have you with us.

    As you saw earlier this week in our latest World Economic Outlook, we have significantly downgraded our projections for global growth. Major trade policy shifts have spiked uncertainty off the charts, accompanied by tighter financial conditions and higher market volatility. Simply put, the world economy is facing a new and major test, and it faces it with policy buffers depleted by the shocks of recent years. That puts countries in a difficult position. It also creates urgency for action to strengthen the economies for a world of rapid change.

    Today, I want to zoom in on how countries can actually do it. This is the main question we are getting from our members in every single meeting I have had this week. In my Global Policy Agenda, let me, for the audience, remind you that it is a very nicely crafted document. In parentheses this year we have very informative charts, and I hope you will look into those as well. In it, we focus on both the immediate challenges and our medium-term directions. I emphasize three overarching priorities. First and most urgent, for countries to work constructively to resolve trade tensions as swiftly as possible, preserving openness and removing uncertainty. A trade policy settlement among the main players is essential, and we are urging them to do it swiftly because uncertainty is very costly. I cannot stress this strongly enough.

    Without certainty, businesses do not invest, households prefer to save rather than to spend, and this further weakens prospects for already weakened growth.

    Countries also need to address the imbalances that fuel many of the tensions we see. Among major economies, some countries like China need to act to boost private consumption and embrace a shift to services. Others, like the United States, need to reduce fiscal deficits. And in Europe, it is time to complete the Single Market, Banking Union, Capital Markets Union, removing internal barriers to intra-EU trade. Get it done. All countries should seize this moment to lower their trade barriers, both tariff and nontariff.

    The second overarching priority, countries must act to safeguard economic and financial stability. The best way to do that is to get their own house in order. On fiscal policy, most countries need to rebuild buffers and ensure debt sustainability, although some may see shocks that warrant temporary and targeted fiscal support.

    We urge countries to define credible adjustment paths, gradual in most cases, protecting key investments, maximizing spending efficiency, and making space for longer term needs.

    Tradeoffs will be tough for all, but they will be toughest for low-income countries, which face both tight financial conditions and global growth slowdown and falling aid flows. To help ease the tradeoffs there, domestic resource mobilization must be part of the mix. We cannot have countries with a tax to GDP below 15 percent where it is difficult to sustain the functioning of the state. For central banks, the times when countries marched in lockstep is over. Different countries will face different conditions. Inflation pressures in some countries are easing. In others, pressures are yet to abate.

    What is our advice? Watch the data, watch inflation expectations. Central banks will need to strike a delicate balance between supporting growth and containing inflation. To do so, they must not only adjust policy interest rates but also rely on credibility to anchor expectations. Central bank independence is critical for credibility, protect it.

    Open economies, including many emerging markets, are exposed to the trade shocks and tighter financial conditions. They must preserve exchange rate flexibility as a shock absorber.

    In the event of unwarranted currency market volatility, these countries can find policy guidance in the IMF’s integrated policy framework.

    My third and final overarching priority, double down on growth oriented reforms to lift productivity. Even before the latest shock, we were living in a low growth, high debt world, sounding the alarm on weak medium-term growth for quite some time. You heard me saying that many times. Now is the time for long needed but often delayed reforms that can create a good business environment, put entrepreneurship in the front seat, reform labor markets, create conditions for innovation and in a world of rapid technological advancements, give countries a chance to catch the benefits of these advancements for their people.

    The IMF, of course, as always, will be there for our members. We are focusing on what we do best, helping them secure economic and financial stability, resolve or, even better, prevent balance of payments problems, and put in place strong policies and institutions to underpin vibrant economies.

    We will help countries with surveillance, with diagnostics, with policy advice and, when necessary, by providing financial support.

    As part of crisis resolution, we must ensure that the Global Financial Safety Net is strong. We will look for ways to further strengthen our collaboration with regional financing arrangements, and with [major] swap-providing central banks. When we have a cohesive, effective, and efficient Global Financial Safety Net, this will deliver confidence to our members in this more shock prone world.

    We will continue to foster cooperative policy solutions for promoting a healthy rebalancing of the world economy to help countries address debt vulnerabilities. Here, I want to acknowledge the important work of the Global Sovereign Debt Roundtable. This week, we agreed to publish a playbook that provides guidance for predictable and faster debt restructuring processes. And I was very pleased to see [the] support of all traditional, nontraditional creditors, private sector, and debtor countries to have that predictability.

    Finally, we will reiterate the need for continued cooperation in a multipolar world. The shared objective for all must be a better balanced and more resilient world economy.

    Before I wrap it up, I want to recognize Secretary Bessent’s remarks yesterday in which he laid out the U.S. administration’s vision for the Bretton Woods Institutions. The United States is our largest shareholder. And even more, the United States is the home of my colleagues and me. So, of course, we greatly value the voice of the United States. I very much appreciate Secretary Bessent’s reiteration of the U.S.’s commitment to the Fund and its role. He raised a number of issues and priorities for the institution that I look forward to discussing with the U.S. authorities and the membership as a whole. We will have opportunities to do so here, and we will also have opportunities to continue with our Executive Board as we carry out important policy reviews–the Comprehensive Surveillance Review, it will set our surveillance priorities for the next five years, and the Review of Program Design and Conditionality, which will carefully consider how our lending can best help countries address the low growth challenge and durably resolve balance of payments weaknesses. So, we have a way to go, and we are laser focused on it.

    Are there cyclists in this room, people who bike, bikers? As bikers would pay, ‘pedalare,’ step on the pedal. With that, I am very happy to take your questions.

    Ms. Kozack: Thank you very much, Kristalina. We will now turn to your questions. I see you have hands up already. Very good. Please just give your name and outlet when called on. I am going to start right here, woman right in the front row here.

    Questioner: Thanks very much for the opportunity to ask you—to put a question to you. You mentioned Secretary Bessent’s remarks yesterday. He accused the IMF and the World Bank of mission creep and specifically the IMF on mission creep in areas such as climate change, gender policies and also social issues. Do you think there is a role in the future for the IMF in areas such as climate, gender, and social issues?       

    Ms. Georgieva: Thank you for your question. So, what do we do here? We concentrate on macroeconomic and financial stability for growth and employment. We have 191 members. They face different challenges. They face different types of risks to their balance of payment. And what we do is to analyze what these risks and what the Fund in our mandate and what we do on the fiscal side, on the monetary policy side, on the financial sector side, what can we do to help them be more resilient to shocks. So, when we have, for example, Caribbean countries that are wiped out by extreme weather events regularly, naturally they are very concerned about that, and they say how can we be more resilient to these shocks? Again, we focus on balance of payment. What are the risks and what can be done to protect the balance of payments in these countries.

    I want to say that I actually agree with the Secretary on one thing. It is a very complicated world, a world of massive challenges of all kinds. We are a small institution. We are 4,000 people. Not very well-known, but a very fiscally disciplined institution. Our budget today in real terms is what it was 20 years ago. So, yes, we have to focus. And that is exactly why we engage with the membership, so we can make best use of the staff of the Fund. I really like to run a tight ship. Yes.

    Ms. Kozack: I can attest to that. Let us go here, the gentleman in the third row, blue shirt.

    Questioner: Just to follow-up on Claire’s question. Does Secretary Bessent’s prescriptions here for the Fund, will it cause you to sort of rethink some of the lending programs like the RSF and the RST? And then secondly, a lot of economists in the private sector have sort of a more pessimistic view, especially when you look at sort of the prospects for U.S. recession. You are not predicting that. Some of the Ministers here that we have been interviewing feel that the Fund is being too conservative. Can you just sort of explain the differences between yourselves and the private sector?

    Ms. Georgieva: Thank you very much. Actually, in the paper that I just flagged to you, we have a slide that shows Fund lending. You need a magnifying glass to see the share of the Resilience and Sustainability Trust in this lending. It is really small, but as I was explaining in the answer to the previous question, for countries that are highly vulnerable to extreme weather events, having policy advice strictly on the macro side, there is a bit of confusion. People think that we have climate experts. We do not. That is not our job. Our job is to say, OK, if you are Dominica and a hurricane can wipe out the equivalent of 200 percent of your GDP, what are reasonable policies to put in place, or to be more specific, because we have a program with Barbados, if you are Barbados natural disasters are highly damaging to your economy, what are the policy measures you can put in place. In the case of Barbados, we came up with creating an additional buffer for them that would actually prevent a balance of payments shock from derailing the economic development of the country. So, of course, we are a membership institution. What our members decide, this is what we do. We periodically review all of our instruments. At this point, we have the function of the Fund on balance of payments support defined with a number of instruments being deployed.

    To your second question, I am going to do this illustration. My glass, when you look at it, it is more than 60 percent full. This is where we are. This is what it is. How can I call it empty? I cannot. When we look at the data, what we see is that for the United States, recession risks have increased now to 37 percent, but we are not yet—we do not see either in the labor market or indicators for the functioning of the economy such a dramatic block of economic activities that would drag growth in the United States all the way to below zero.

    So, as you remember, I mean, this is something that people may not appreciate enough. Our earlier projections for a very vibrant U.S. economy were for 2.7 percent growth for this year. We have downgraded the United States—actually this is the largest of our downgrades—by 0.9 percent, to 1.8 percent for this year. But we see enough that carries the United States forward. And, of course, we recognize that there is work underway to resolve trade disputes and reduce uncertainty. I want to reiterate my message. Uncertainty is really bad for business, so the sooner this cloud that is hanging over our heads is lifted, the better for prospects for growth.

    For the world economy, as you know we are—you saw it in the WEO, we are also projecting an increase in recession risk from 17 to 30 percent. But again—and by the way, there we talk about growth falling below 2 percent, not below zero, so there is a lot that is carrying the world economy—actually the real economy is functioning in a way that we are seeing no predominant risk. Is there risk? Yes. But it is in our, we used to say, downside scenario and not in what is our—the scenario we anchor our projections.

    This being said—and I am sorry I am dwelling on that. It is a very important question. I get it from delegations when we talk about our projections a lot. This being said, countries can—they are not passive observers. They can act. And one thing that is amazing in these meetings is how much that sense of urgency to act is penetrating our membership. And I do hope that Ministers will go back and say, OK, tough reform, I have postponed it, postpone no more.

    Ms. Kozack: We are going to this side of the room. I am going to go all the way to the end. There is a woman in the third row at the end in a brown suit.

    Questioner: My question is many emerging markets, particularly in Asia, are feeling the pinch of escalating trade tensions and global uncertainties. So, from the IMF’s perspective, how has China and ASEAN countries been affected so far and is there any policy recommendations in the near term that are available from the IMF to navigate these countries through this thank you.

    Ms. Georgieva: Thank you for your question. Indeed, Asia is a continent that is quite significantly impacted because economies that rely a lot on exports, when tariffs are announced, feel the pinch more. When we look at China, we have downgraded growth projections for China from 4.6 to 4 percent. We would have downgraded it much more—we actually would have had not .06 but 1.3 percent downgrade if it was not for the policy accommodation that China is already putting in place. It helps. And that is the first piece of advice. If you have policy space, now is a good time to use it. With regard to China, we are emphasizing four points. First, rebalance your economy towards domestic consumption more.

    Second, to help with this, bring to an end the turmoil in the property sector. And, of course, add social protection for people so they do not feel compelled to save rather than spend.

    Third, lift up services, a warm embrace from healthcare to education to basically the service sector, vis-à-vis the goods consumption. And four—and the fourth is very important. Get the government to pull back from too much intervention in the economy. Let the private sector function to its full capacity.

    We are currently working on a paper, and that is in consultation, collaboration with the Chinese authorities, to document in details what are the ways in which the government may be supporting businesses and by doing so shifting the competitive position of these businesses. And this will be one of our contributions to China.

    I am particularly concerned about ASEAN. Why? Because ASEAN, very open economies. They find themselves in a very tough spot with announced tariffs quite significant across the board in ASEAN countries.

    ASEAN has done really well to build resilience over the last years. Their growth has been quite sound. They have prudently brought inflation down. They have disciplined fiscal policy. It helps. This is our number one advice to ASEAN. You have some policy space in monetary policy, in fiscal policy. Carefully and prudently use it, of course, being mindful that if you deplete it entirely and there is another shock, that would be a problem.

    We have been working with ASEAN on their external sector, especially forex. We have integrated the policy framework. It allows good thinking around how to apply the exchange rate flexibility, how to look at this from the perspective of sudden exogenous shocks. I am very pleased to see that ASEAN is doing something that other regions are doing, strengthening economic cooperation, policy coordination, and intra-ASEAN trade. Currently the ASEAN countries trade only 21 percent among themselves. Well, they sure can go up.

    And I think that we will see not only in ASEAN, we will see it in other places, Gulf Cooperation Council, Central Asia, the African continent with the Continental Free Trade Agreement, more being done to compensate, if global trade is going down, then regional trade can be a compensator and actually inject growth energy.

    I want to finish by saying that ASEAN has been remarkably prudent over the last years to build resilience. And that puts them in a good position to have the reputation to deploy their policy space if needed.

    Ms. Kozack: OK. I am going to stay on this side of the room. I will go to the gentleman in the second row with the red tie.

    Questioner: You said these present tensions could disproportionately impact low-income countries, and I am glad you mentioned the African Continental Free Trade Area Agreement because my question is on Africa. You met with the Nigerian delegation earlier this week. What is the strategy or your advice for the African continent? As you have noted in the past, Africa is not a country. It is a continent. Egypt cut rates for the first time in five years seven days ago. Prior to that, Ghana hiked its interest rate for the first time in almost three years. In these tough times, what is your advice for the continent?

    Ms. Georgieva: Well, we have seen over the last years the African continent having some of the fastest growing economies, but we also have seen low-income countries primarily, and among them fragile conflict affected countries, falling further behind. And now this is a shock for the continent. The direct impact of tariffs on most of Africa, not on all of Africa, but on most of Africa is relatively small, but the indirect impact is quite significant. Slowing global growth means that all other things equal, they will see a downgrade. And actually, we have downgraded growth prospects for the continent.

    For the oil producers like Nigeria, falling oil prices creates additional pressure on their budgets. On the other hand, for the oil importers, this is a breath of fresh air. In other words, as you indicated in your question, different countries face different challenges. If I were to come with some basic recommendations that apply to Africa, I would say—and actually they apply to Nigeria, they apply to Egypt, they apply to Ghana, they apply to Coté d’Ivoire. First, continue on a path of strengthening your fundamentals. There is still a lot that can be done on the fiscal side to have strength. As I was talking about ASEAN, to have buffers for a moment of shock. And do not use any excuses, oh, it is difficult, we cannot really go for more tax because, yes, you can. There is a lot that can be done to broaden the tax base and a lot that can be done to reduce tax evasion and tax avoidance.

    Using technology as some countries are doing to chase the tax dollar when there is the foundation for that is a very good thing to do.

    Second, on the monetary policy side, we know more as I said in the opening—we are no more in a place when you can look at the book of the Central Bank Governor of the neighboring country and say, oh, they are doing this, I will do the same, because you have to really assess domestic resource mobilization, what is your inflationary pressures and do the right thing for your country.

    But above all, make it so that the image of the whole continent changes because now everybody suffers from wrongdoing, from corruption or from conflict in one country. It throws a shadow on the rest of the continent.

    Finally, like with ASEAN, deepen interregional trade and cooperation. Remove the obstacles to it. Sometimes there are infrastructure obstacles. The World Bank is working on reducing that infrastructure obstacle to growth and trade.

    Africa has so much to offer the world. Obviously, they have the minerals, the natural disasters, and the young population. I think a more unified, more collaborative continent can go a long, long way to [becoming] an economic powerhouse.

    Ms. Kozack: I will go to this side of the room. I am going to have the woman in the red jacket, third row.

    Questioner: Ms. Georgieva, you have been very complementary of the economic reform that the Argentinian government is implementing. You have said that Argentina is an example of a country that has made great strides through structural reforms and fiscal discipline. I would like to ask you about the challenges that now the new program is facing right now, and above all what are the risks that Argentina can face in these times of global uncertainty? Thank you.

    Ms. Georgieva: Argentina has demonstrated that this time it is different. This time there is decisiveness to put the economy on a soundtrack from high deficit to surplus, from double-digit inflation to inflation that in February dipped under 3 percent, from poverty over 50 percent to now around 37 percent. Still very high but going down. The state is stepping out from where it does not belong to allow more dynamism in the private sector. Actually, if you are interested, today we will have the global debate, and Federico is going to be one of the speakers to talk about smart regulation, how you make the economy more vibrant by not being an obstacle to private initiative.

    We saw that when the program was announced, the immediate impact on markets was positive because, among other things, you ask about risks. One risk for Argentina would be if it is alone in this macroeconomic stabilization, now the country is not alone. We are there. The World Bank is there. The InterAmerican Bank is stepping up. What are the risks? And I am sorry, and there is a very important opportunity for Argentina in a world hungry for what Argentina produces, both in agriculture and in minerals, mining, gas, lithium. What are the risks?

    First, external. A worsening global environment of all other things equal, it would impact Argentina negatively. Domestic resource mobilization, the country is going to go to elections, as you know, in October. And it is very important that they do not derail the will for change. So far, we do not see that. We do not see that risk materializing, but I would urge Argentina, stay the course.

    Ms. Kozack: All right. Let us go right here in the front, end of the first row.

    Questioner: Managing Director, we had a lot of news this week, for example, mixed signals on tariffs on China, commentary on the position of the Fed Chair, and of course now the U.S. support of the IMF. How would you sum up the mood of the meetings of your members this week, please? 

    Ms. Georgieva: The membership is anxious because we were just about to step on a road to more stability after multiple shocks. We were projecting 3.3 percent growth. And actually, we were worried that this is not strong enough. And here we are, growth prospects weakened. The membership is also recognizing—and I hear it time and again—that it is very important to have a rules based global economy in which there is predictability of planning for action, both for governments and for the private sector. I actually hear a lot of support from the membership for the Fund because we have actually, the same way Argentina earned the Fund to support it, we have earned the support of the members by being there for them.

    Where the expectations are for the outcome of the meetings is to get more consistency in how all countries are going to go about pursuing their interests, which is legitimate. Of course, every country has to think about its own people but doing it so in a way that enlarges the global pie. It does not shrink it.

    Ms. Kozack: We have time for one last question. I am going to go over here.

    Ms. Georgieva: I am sorry. What I would say is the worry I hear more often is actually not even the tariffs. It is uncertainty. Let us have clarity. And that is why we are—with my apologies to the audience—so repetitive to say we need to bring uncertainty down.

    Ms. Kozack: We have time for one last question, the woman in the burgundy suit.

    Questioner:  I wanted to ask you about the MENA region. How concerned are you with all of this turmoil around the dollar and its effect on the MENA region, especially that many countries there are exporters of intermediate goods that go into major industries and many of them are exporters of energy and what is happening to the dollar is definitely of effect. And you have mentioned uncertainty many times today in this press conference. So, this uncertainty, how will it affect the countries in our region that are trying to get out of a lot of geopolitical uncertainty with the help of the IMF and special programs, such as Egypt? So, will this make the IMF revisit some of those programs amid all of this turmoil?

    Ms. Georgieva: Thank you very much. The MENA region actually got quite a downgrade. It is still doing better this year than last year, but we were projecting that growth would go to 4 percent and now we downgraded it to 2.6. A little bit like Africa, most of the impact is indirect. While countries in the MENA region, of course, trade with the United States, but most of them do not have very high exposure. And where it bites is slowing down of the global economy. And MENA has many oil exporters. The price of oil is going down.

    The dollar has historically, it goes up, it goes down. It is not a new thing. So, if you have an oil exporter and you get your revenues in dollars, when the dollar weakens, that creates a bit of a problem for your fiscal position. But if you are an oil exporter, this is a gift because then you can deal more easily with the challenges you face.

    My take for the MENA region is a very diverse region, like the African continent. You have the Gulf Cooperation Council. I have a lot of praise to offer because they have been pursuing reforms and diversification of the economies. Most countries have done really well. So now they see oil growth down, but non-oil economies are still doing quite well.

    We have the more kind of middle-income countries that are faced with difficulties impacted by regional conflicts like Jordan, like Egypt. And there we have been engaged, we have been providing support, as you know. We have countries like Morocco that have done really well to get their house in order, to have sound fiscal monetary policy and the only country in the region that is eligible for Flexible Credit Line from the IMF. And then we have countries like Sudan or Syria that are severely impacted by conflicts.

    I was very pleased that the attention of our membership, despite difficulties at home, across-the-board on low-income countries and conflict affected states, has sharpened. There is a recognition that what happens there impacts the rest of the world.

    We had a Syria meeting during the week of the meetings. The first time in more than 20 years, the Central Bank Governor and the Minister of Finance from Syria are here at the meetings. Our intention is to first and foremost help them rebuild institutions so they can plug themselves in the world economy.

    You are asking me whether we are revisiting program assumptions. Of course, we will be carefully watching what is happening. Then I had a meeting with the Prime Minister of Jordan. We are not talking about amending the program for Jordan right now, but we are talking about the importance of the Fund as an anchor of stability and how we can exercise this role.

    Ms. Kozack: Thank you very much, Managing Director, and thank you very much to all of our journalists who have joined us today. I am bringing this press conference to an end. As always, the transcript will be made available on our website, and I want to wish all of you a very wonderful rest of your day. Thank you very much.

    Ms. Georgieva: Thank you very much. Have a good rest of your day.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

  • MIL-OSI: XRP News: XRP Community Goes Wild As Rush To Join XenDex’s $XDX Presale Intensifies

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, Australia, April 24, 2025 (GLOBE NEWSWIRE) — The buzz is undeniable as XenDex officially ignites a new wave of excitement on the XRP Ledger. Just days after launching, the first all-in-one decentralized exchange on XRP Ledger is already making headlines, with thousands of users flooding into its community channels and early participants racing to secure their place in the project’s rapidly moving XDX presale.

    With lending & borrowing, AI-powered copy trading, staking, and cross-chain functionality, XenDex is delivering what the XRP ecosystem has long been missing. And crypto investors are taking notice.

    Buy $XDX Now!

    According to XenDex’s spokesperson, “People aren’t just supporting XenDex, they’re becoming obsessed with it. This is XRP’s DeFi moment, and the entire community knows it,”

    The $XDX token presale is officially live and demand is soaring.

    The exchange rate for the XenDex presale is set at 1 XRP for 10 XDX tokens. To participate, the minimum purchase amount is 150 XRP, which gives buyers 1,500 XDX. The project has established a soft cap of 30,000 XRP to ensure strong initial liquidity and market traction.

    Early buyers are rushing in to take advantage of the low entry point before price pressure sets in. As the presale fills, $XDX becomes increasingly scarce and valuable, fueling even more demand.

    Purchase XDX Now at The Lowest Price

    Why Do Investors Love XenDex?

    Unlike anything built on XRP before, XenDex offers:

    • Real utility with low fees and lightning speed
    • Lending & borrowing without intermediaries
    • AI-assisted trading tools that mirror pro strategies
    • Governance, staking, and yield farming — all in one app
    • A clean, fast UI that even Web2 onborders love

    The result? A growing legion of XRP holders who are not just using XenDex, investors are rallying around it.

    Thousands have already joined the XenDex community across Telegram and Twitter. And with features rolling out and listings on the horizon, FOMO is building by the minute.

    Participate in XDX Presale

    The clock is ticking. The presale is live. The community is growing fast. Don’t wait to watch it happen — be part of it.

    Website: https://xendex.net
    Buy $XDX Presale: https://xendex.net/presale/
    Telegram: https://t.me/XenDexCommunity
    Twitter: https://x.com/XenDex_XRP
    XDX Doc: https://xdxdoc.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

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    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8fbb673f-6267-40c0-8d0a-c022ae0c486f

    The MIL Network –

  • MIL-OSI: Aemetis India Begins Biodiesel Shipments to Oil Marketing Companies under $31 Million Allocation For the Next Three Months

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., April 24, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced the Company’s subsidiary in India, Universal Biofuels, today began shipments to fulfill multiple orders for more than 33,000 kiloliters of biodiesel from the government-owned Oil Marketing Companies (OMCs) for an aggregate of $31 million for delivery during May, June, and July. 

    Additional OMC orders are expected throughout the year to continue shipments to fuel blending terminals on an ongoing basis to support the India government goal of increasing from a 1% to 5% biodiesel blend. A 5% biodiesel blend is approximately 1.2 billion gallons, a significant increase from less than a 1% blend of biodiesel that is currently used in India.

    “We are pleased with the expanded commitment to biofuels that is being shown by the India government, including the achievement of a 20% blend of ethanol and new goals including a 30% ethanol blend,” stated Eric McAfee, Chairman and CEO of Aemetis. “We began our biodiesel shipments today from inventory to quickly ramp up to $10 million per month of shipments and fulfill the $31 million of new orders from OMCs for biodiesel over the next three months. We have already made the capital investments that allow us to quickly increase production volumes as new orders are issued by the OMCs.”

    Recently, India has stated plans for further growth in the use of biofuels, expanding revenues for farmers while reducing the importation of petroleum gasoline into India. India’s strong commitment to expanding biofuels markets supports the Aemetis India business plan for further expansion and a planned Initial Public Offering (IPO), subject to continued favorable stock market conditions.

    Universal Biofuels completed $112 million of biodiesel and glycerin shipments in the twelve months ended September 2024, including deliveries to the three government-owned oil marketing companies under a cost-plus contract. During a recent plant upgrade and maintenance period, Universal Biofuels expanded the production capacity of its proprietary process that produces biodiesel from waste and byproducts that Universal utilizes to produce biofuels that are lower carbon intensity at a significantly reduced cost.

    Aemetis’ Universal Biofuels subsidiary is one of the largest biodiesel producers in India, having been in operation for more than 17 years. Universal Biofuels increased its annual biodiesel production capacity from 60 million gallons to 80 million gallons in the past year, with further biodiesel expansion to other locations and diversification into biogas production planned during the next twelve months.

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; IPO plans; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to many risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations
    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network –

  • MIL-OSI Global: Belgium’s euthanasia trends dispute ‘slippery slope’ argument – new study

    Source: The Conversation – UK – By Jacques Wels, Principal Investigator, Unit for Lifelong Health & Ageing, UCL

    Euthanasia has been legal in Belgium since mid-2002, and in the past two decades, the number of reported cases has risen sharply. In 2003, only 236 cases were recorded, but by 2023, this had increased to 3,423. This means that euthanasia now accounts for around 3% of all deaths. But what explains this increase? And does it suggest a worrying trend, as some critics fear?

    In a new study published in Jama Network Open, my colleagues and I analysed trends in all reported euthanasia cases between 2002 and 2023. Our findings show that the rise in euthanasia cases can be attributed to two factors: “regulatory onset” (the time required for both the medical community to adapt its practices and protocols to the new law, and for the public to become informed about its availability and implications) and demographic change, including population ageing.

    We saw a sharp rise in cases during the 15 years following the law being introduced, followed by a period of stabilisation. About one-third of the increase can be explained by demographic changes – mainly population ageing. Euthanasia is indeed most common among people in their 70s and 80s, who often suffer from terminal cancer or several conditions. The number of people in those age categories has steadily increased.

    A common point of contention in the euthanasia debate is the inclusion of psychiatric disorders as a valid reason. In Belgium, euthanasia for psychiatric conditions has been permitted since the law was first introduced. However, despite concerns that this might lead to a rapid expansion of cases, our study finds that psychiatric euthanasia remains extremely rare.

    Between 2002 and 2023, psychiatric conditions accounted for just 1.3% of all euthanasia cases, and this figure has remained stable over time. The strict criteria mean that these cases typically involve long-standing conditions where all treatment options failed. In all cases, the person seeking to end their life underwent an extensive assessment before euthanasia was approved.

    Euthanasia for dementia, however, has increased slightly in recent years. While cases remain low – under 1% of total euthanasia cases – there has been a gradual rise, partially reflecting the ageing of Belgium’s population.

    There are also regional differences. Historically, euthanasia rates have been higher in the Flemish region than in French-speaking Wallonia and Brussels. However, our study shows that this gap has narrowed in recent years. This may reflect shifting cultural attitudes or changes in access to end-of-life care, but, overall, the trend points to a growing alignment in practices across the country.

    One of the biggest concerns around euthanasia laws is the so-called slippery slope argument – the idea that legalisation could lead to a broadening of criteria, eventually allowing euthanasia for non-terminal conditions, mental health issues or even socioeconomic reasons. However, our study finds no evidence to support this claim.

    Slippery slope argument explained.

    The increase in euthanasia cases has largely followed demographic trends and legislation implementation, rather than any broadening of legal criteria or changes in medical practice. Over time, both the regional and gender gaps have decreased, showing a more consistent pattern across the population rather than diverging trends.

    Belgium’s approach differs significantly from the assisted dying bill currently being debated in the UK. With assisted dying, the patient ends their own life but a doctor prescribes the life-ending medication. With euthanasia, a doctor administers the life-ending medication. The proposed UK legislation would allow assisted dying only for terminally ill patients with a short life expectancy, whereas Belgium’s law permits euthanasia even when death is not expected in the near future.

    This is particularly relevant for patients with psychiatric disorders or dementia, who may suffer unbearably for years before meeting the UK’s proposed eligibility criteria. Another key distinction is decision-making: in Belgium, the final decision is made by doctors, whereas the UK is mooting judicial oversight.

    Data gaps

    One thing that countries allowing assisted dying need to think about is how to track and collect euthanasia data. Belgium has a national system for reporting, but there are still gaps – especially in connecting euthanasia data with people’s social and economic backgrounds. It’s important to understand who asks for euthanasia and why, to assess the long-term effects of the law.

    As more countries consider assisted dying laws, Belgium’s experience offers valuable lessons – not only on regulation but also on the importance of robust data monitoring from the outset.

    Jacques Wels receives funding from the Belgian National Scientific Fund (FNRS) and the European Research Council (ERC).

    Natasia Hamarat reports participating in the Federal Commission for the Control and Evaluation of Euthanasia (FCCEE).

    – ref. Belgium’s euthanasia trends dispute ‘slippery slope’ argument – new study – https://theconversation.com/belgiums-euthanasia-trends-dispute-slippery-slope-argument-new-study-252323

    MIL OSI – Global Reports –

  • MIL-OSI Security: Security News: New York Man Charged with Immigration Fraud for Concealing Role as Perpetrator of Rwandan Genocide

    Source: United States Department of Justice 2

    A federal grand jury in Central Islip, New York, returned an indictment April 22 and unsealed today charging a New York man with lying on his applications for a green card and United States citizenship by concealing his past role as a leader and perpetrator of the genocide in Rwanda in 1994.

    According to court documents, Faustin Nsabumukunzi, 65, of Bridgehampton, New York, was a local leader with the title of “Sector Counselor” in Rwanda in 1994 when the genocide began. Between April and July of that year, members of the majority Hutu population persecuted the minority Tutsis, committing acts of violence including murder and rape. An estimated 800,000 ethnic Tutsis and moderate Hutus were killed during the three-month genocide. Nsabumukunzi was arrested this morning on Long Island and is scheduled to be arraigned at 1:30 p.m. ET before U.S. District Judge Joanna Seybert for the Eastern District of New York.

    “As alleged, the defendant participated in the commission of heinous acts of violence abroad and then lied his way into a green card and tried to obtain U.S. citizenship,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “No matter how much time has passed, the Department of Justice will find and prosecute individuals who committed atrocities in their home countries and covered them up to gain entry and seek citizenship in the United States.”

    “As alleged, Nsabumukunzi repeatedly lied to conceal his involvement in the horrific Rwandan genocide while seeking to become a lawful permanent resident and citizen of the United States,” said U.S. Attorney John J. Durham for the Eastern District of New York. “For over two decades, he got away with those lies and lived in the United States with an undeserved clean slate, a luxury that his victims will never have, but thanks to the tenacious efforts of our investigators and prosecutors, the defendant finally will be held accountable for his brutal actions.”

    “This defendant has been living in the United States for decades, hiding his alleged horrific conduct, human rights violations, and his role in these senseless atrocities against innocent Tutsis,” said Acting Special Agent in Charge Darren B. McCormack of U.S. Immigration and Customs Enforcement (ICE) Homeland Security Investigations (HSI) New York. “The depraved conduct of which the defendant is accused represent the worst of humanity. As demonstrated through the tireless work of HSI New York agents, analysts, and task force officers, we will never tolerate the safe-harboring of individuals linked to such unimaginable crimes.”

    As alleged in the indictment, Nsabumukunzi used his leadership position to oversee the violence and killings of Tutsis in his local area and directed groups of armed Hutus to kill Tutsis. He is alleged to have set up roadblocks during the genocide to detain and kill Tutsis and to have participated in killings. According to court filings, Nsabumukunzi was subsequently convicted in absentia by a Rwandan court for genocide.

    As further alleged, Nsabumukunzi applied for refugee resettlement in the United States in 2003, applied for and received a green card in 2007, and later submitted applications for naturalization in 2009 and 2015. Nsabumukunzi is alleged to have lied to U.S. immigration officials in his immigration applications, including by falsely denying any involvement as a perpetrator of the Rwandan genocide. As a result of his ongoing efforts to conceal his actions during the genocide, Nsabumukunzi has been able to live and work in the United States since 2003.

    Nsabumukunzi is charged with one count of visa fraud in violation of 18 U.S.C. § 1546(a) and two counts of attempted naturalization fraud in violation of 18 U.S.C. § 1425 (a) and (b). If convicted, he faces a statutory maximum penalty of 30 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    HSI Long Island is investigating the case, with assistance from the Interagency Human Rights Violators and War Crimes Center.

    Trial Attorney Brian Morgan of the Justice Department’s Human Rights and Special Prosecutions Section (HRSP) and Assistant U.S. Attorneys Samantha Alessi and Katherine P. Onyshko for the Eastern District of New York are prosecuting the case, with assistance from HRSP Analyst/Historian Dr. Christopher Hayden and the Justice Department’s Office of International Affairs.

    Members of the public who have information about former human rights violators in the United States are urged to contact U.S. law enforcement through the HSI tip line at 1-866-DHS-2-ICE (1-866-347-2423) or internationally at 001-1802-872-6199. They can also email HRV.ICE@ice.dhs.gov or complete its online tip form at www.ice.gov/exec/forms/hsi-tips/tips.asp.

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

    MIL Security OSI –

  • MIL-OSI USA: UConn Launches Largest Campaign in University History

    Source: US State of Connecticut

    The University of Connecticut announced Thursday that it has raised more than $720 million in a $1.5 billion fundraising campaign, the most ambitious in the University’s history.

    The multi-year “Because of UConn” Campaign is comprehensive, spanning all schools, colleges, campuses, and UConn Health. The campaign focuses on four pillars:

    • Students First: making transformative investments in financial aid, student health, career readiness, and life skills to improve time-to-degree and career outcomes.
    • Academic & Innovation Excellence: driving investment in top faculty and graduate fellows and building the innovation ecosystem of the state and beyond.
    • Health & Wellness of People & Planet: focusing on patient care, medical research, and the development of life-changing technologies that improve health care outcomes.
    • Husky Pride: investing in athletic excellence and supporting a thriving UConn Nation that includes more than 290,000 alumni worldwide.

    UConn President Radenka Maric unveiled the campaign at a kickoff event on Wednesday, April 23 at UConn Avery Point. “This ambitious campaign is fully aligned with a strategic plan that will lead the way to a bigger, brighter, bolder UConn,” says Maric. “It supports students to help them excel in the classroom and post-graduation. ‘Because of UConn‘ elevates our academic standing and fuels groundbreaking research that moves Connecticut and the world forward. It asks our donors and alumni to invest in a healthier world and our continued excellence in D1 sports.”

    Governor Ned Lamont speaks during the Because of UConn campaign event at the Avery Point campus on April 23, 2025. At left is President Radenka Maric (Peter Morenus/UConn Photo)

    The campaign is by far UConn’s largest and most ambitious to date. The momentum of the campaign has sparked the strongest start to a fundraising year ever, up more than 76% compared to this time last year.

    The campaign pillars support UConn’s 10-year Strategic Plan, designed to make an education more affordable and a UConn degree more valuable by elevating UConn among its national peers.

    Putting Students First 

    The campaign’s top priority is to bolster UConn’s academic mission to create opportunities for our students, including more than 8,550 who are the first in their families to attend college.

    The campaign will support efforts to improve student retention and graduation rates. Investing in student success will help UConn reach its goal of increasing its six-year graduation rate from 83% to 90% by 2030, with a particular focus on first-generation students.

    Research Excellence 

    As a world-class research institution, UConn encourages students and faculty to ask big questions and find solutions to pressing problems from biotech to advanced manufacturing to advance the Connecticut and national economy. The campaign will help the University provide fellowships for much-needed graduate researchers, help recruit and retain top faculty, and invest in lifesaving and world-changing research at more than 80 centers and 100 state-of-the-art STEM facilities on campus. UConn boasts nearly 300 scientists who are in the top 2% of researchers investigating everything from cancer to AI.

    UConn basketball great Emeka Okafor ’04 (BUS) speaks during the Because of UConn campaign event at the Avery Point campus on April 23, 2025. (Peter Morenus/UConn Photo)

    It will also invest in UConn’s athletic programs and the health and financial literacy of student-athletes, including the men’s and women’s basketball teams, which have brought home three consecutive NCAA National Championship trophies in the last three years. UConn is proud to have 26 national championships across all sports.

    Leading the Way to a New Era

    The quiet phase of the campaign has been led by some of the University’s most generous lifetime donors, whose significant support has set the pace for this effort, including:

    • Over $52 million from Elisabeth DeLuca ’69 (NUR) to build a new state-of-the-art nursing facility at UConn to innovate in the field of nursing and address a statewide nursing shortage.
    • $46.5 million from Peter J. Werth to establish a legacy of innovation and entrepreneurship by creating an institute that empowers students and faculty to transform ideas into impactful ventures that fuel economic growth and opportunity. Werth has also been generous in his support of UConn student-athletes and their championship pursuits.
    • Over $25 million from alumni Denis ’76 (BUS) ’77 MBA and Britta Nayden ’76 (BUS) who have supported initiatives across the University, with a strong focus on student success. Their generosity has helped launch programming in the School of Business, expand scholarship support, and, more recently, advance initiatives in student athlete financial literacy, mental health, and wellness.
    • $15 million from Trisha Bailey ’99 (CLAS) ’23(HON) to transform student-athlete support by establishing a world-class facility that advances academic achievement, mental and physical wellness, and athletic excellence.
    • Over $11 million from Toni Boucher ’02 MBA, marked by a lead gift to establish the Boucher Management & Entrepreneurship Department, empowering students across disciplines to launch innovative ventures, drive economic growth, and honor the entrepreneurial legacy of her late husband, Bud.

    Corporations, including Eversource, Synchrony, Travelers, The Hartford, RTX, Stanley Black & Decker, and Bank of America, have been philanthropically generous in supporting students through scholarships, programming, as well as providing job opportunities.

    Bruce Liang, dean of UConn School of Medicine, and Provost Ann D’Alleva speak at the Because of UConn campaign event at the Avery Point campus on April 23, 2025. (Peter Morenus/UConn Photo)

    “’Because of UConn‘ will have a profound impact on the University. It will double the number of named scholarships, fund scientific breakthroughs and advanced lifesaving therapies, and engage UConn Nation in the life and mission of the University like never before” says Amy Yancey, President and CEO of the UConn Foundation. “We are so grateful for the generous support of alumni and friends of the University who are investing in UConn to ensure a thriving Connecticut and success for future generations of Huskies.”

    Other campaign objectives include growing the endowment; increasing the number of donors; and increasing engagement touchpoints with UConn alumni and supporters through events, giving, social media and storytelling during the campaign timeframe.

    The campaign is led by volunteer alumni co-chairs Toni Boucher, Rich and Joyce Eldh, Doug and Sheila Elliot, and Board of Trustees Chair Dan Toscano. The Eldhs have been generous supporters of full scholarships for students from Bridgeport and the Elliots have been generous across many programs, including Elliot Ballpark, home to the UConn baseball team; the Toscanos, longtime supporters of UConn, have invested in scholarships, faculty, innovative programming such as Hillside Ventures, and UConn Athletics. Honorary co-chairs include Vlad Coric, Denis Nayden, Molly Qerim and Peter Werth. They’re among the more than 30 members of the campaign committee.

    MIL OSI USA News –

  • MIL-OSI Security: New York Man Charged with Immigration Fraud for Concealing Role as Perpetrator of Rwandan Genocide

    Source: United States Attorneys General

    A federal grand jury in Central Islip, New York, returned an indictment April 22 and unsealed today charging a New York man with lying on his applications for a green card and United States citizenship by concealing his past role as a leader and perpetrator of the genocide in Rwanda in 1994.

    According to court documents, Faustin Nsabumukunzi, 65, of Bridgehampton, New York, was a local leader with the title of “Sector Counselor” in Rwanda in 1994 when the genocide began. Between April and July of that year, members of the majority Hutu population persecuted the minority Tutsis, committing acts of violence including murder and rape. An estimated 800,000 ethnic Tutsis and moderate Hutus were killed during the three-month genocide. Nsabumukunzi was arrested this morning on Long Island and is scheduled to be arraigned at 1:30 p.m. ET before U.S. District Judge Joanna Seybert for the Eastern District of New York.

    “As alleged, the defendant participated in the commission of heinous acts of violence abroad and then lied his way into a green card and tried to obtain U.S. citizenship,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “No matter how much time has passed, the Department of Justice will find and prosecute individuals who committed atrocities in their home countries and covered them up to gain entry and seek citizenship in the United States.”

    “As alleged, Nsabumukunzi repeatedly lied to conceal his involvement in the horrific Rwandan genocide while seeking to become a lawful permanent resident and citizen of the United States,” said U.S. Attorney John J. Durham for the Eastern District of New York. “For over two decades, he got away with those lies and lived in the United States with an undeserved clean slate, a luxury that his victims will never have, but thanks to the tenacious efforts of our investigators and prosecutors, the defendant finally will be held accountable for his brutal actions.”

    “This defendant has been living in the United States for decades, hiding his alleged horrific conduct, human rights violations, and his role in these senseless atrocities against innocent Tutsis,” said Acting Special Agent in Charge Darren B. McCormack of U.S. Immigration and Customs Enforcement (ICE) Homeland Security Investigations (HSI) New York. “The depraved conduct of which the defendant is accused represent the worst of humanity. As demonstrated through the tireless work of HSI New York agents, analysts, and task force officers, we will never tolerate the safe-harboring of individuals linked to such unimaginable crimes.”

    As alleged in the indictment, Nsabumukunzi used his leadership position to oversee the violence and killings of Tutsis in his local area and directed groups of armed Hutus to kill Tutsis. He is alleged to have set up roadblocks during the genocide to detain and kill Tutsis and to have participated in killings. According to court filings, Nsabumukunzi was subsequently convicted in absentia by a Rwandan court for genocide.

    As further alleged, Nsabumukunzi applied for refugee resettlement in the United States in 2003, applied for and received a green card in 2007, and later submitted applications for naturalization in 2009 and 2015. Nsabumukunzi is alleged to have lied to U.S. immigration officials in his immigration applications, including by falsely denying any involvement as a perpetrator of the Rwandan genocide. As a result of his ongoing efforts to conceal his actions during the genocide, Nsabumukunzi has been able to live and work in the United States since 2003.

    Nsabumukunzi is charged with one count of visa fraud in violation of 18 U.S.C. § 1546(a) and two counts of attempted naturalization fraud in violation of 18 U.S.C. § 1425 (a) and (b). If convicted, he faces a statutory maximum penalty of 30 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    HSI Long Island is investigating the case, with assistance from the Interagency Human Rights Violators and War Crimes Center.

    Trial Attorney Brian Morgan of the Justice Department’s Human Rights and Special Prosecutions Section (HRSP) and Assistant U.S. Attorneys Samantha Alessi and Katherine P. Onyshko for the Eastern District of New York are prosecuting the case, with assistance from HRSP Analyst/Historian Dr. Christopher Hayden and the Justice Department’s Office of International Affairs.

    Members of the public who have information about former human rights violators in the United States are urged to contact U.S. law enforcement through the HSI tip line at 1-866-DHS-2-ICE (1-866-347-2423) or internationally at 001-1802-872-6199. They can also email HRV.ICE@ice.dhs.gov or complete its online tip form at www.ice.gov/exec/forms/hsi-tips/tips.asp.

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

    MIL Security OSI –

  • MIL-OSI Security: Bridgehampton Man Charged with Immigration Fraud for Concealing His Role as a Perpetrator of Rwandan Genocide

    Source: Office of United States Attorneys

    Defendant Was a Local Leader During the Rwandan Genocide and Did Not Disclose His Role in the Violence, Including Killings and Rapes, to U.S. Immigration Authorities

    CENTRAL ISLIP, NY – Earlier today, at the federal courthouse in Central Islip, an indictment was unsealed charging Faustin Nsabumukunzi with visa fraud and attempted naturalization fraud for lying on his applications for a green card and for United States citizenship by concealing his role as a local leader and perpetrator of violence during the Rwandan genocide in 1994.  Nsabumukunzi was arrested this morning on Long Island and is scheduled to be arraigned this afternoon before United States District Judge Joanna Seybert.

    John J. Durham, United States Attorney for the Eastern District of New York; Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; and Darren B. McCormack, Acting Special Agent in Charge, Homeland Security Investigations, New York (HSI New York), announced the arrest and charges.

    “As alleged, Nsabumukunzi repeatedly lied to conceal his involvement in the horrific Rwandan genocide while seeking to become a lawful permanent resident and citizen of the United States,” stated United States Attorney Durham.  “For over two decades, he got away with those lies and lived in the United States with an undeserved clean slate, a luxury that his victims will never have, but thanks to the tenacious efforts of our investigators and prosecutors, the defendant finally will be held accountable for his brutal actions.”

    Mr. Durham expressed his appreciation to the United States Interagency Human Rights Violators & War Crimes Center, the Justice Department’s Office of International Affairs, the Department of Homeland Security, U.S. Citizenship and Immigration Services, and the U.S. Immigration and Customs Enforcement’s Office of the Principal Legal Advisor for their work on the case.

    “As alleged, the defendant participated in the commission of heinous acts of violence abroad and then lied his way into a green card and tried to obtain U.S. citizenship,” stated Matthew R. Galeotti, Head of the Justice Department’s Criminal Division.  “No matter how much time has passed, the Department of Justice will find and prosecute individuals who committed atrocities in their home countries and covered them up to gain entry and seek citizenship in the United States.”

    “This defendant has been living in the United States for decades, hiding his alleged horrific conduct, human rights violations, and his role in these senseless atrocities against innocent Tutsis,” stated HSI New York Acting Special Agent in Charge McCormack.  “The depraved conduct of which the defendant is accused represent the worst of humanity. As demonstrated through the tireless work of HSI New York agents, analysts, and task force officers, we will never tolerate the safe-harboring of individuals linked to such unimaginable crimes.”

    As set forth in court filings, Nsabumukunzi served as a local leader with the title of “Sector Councilor” in Rwanda in 1994 when the genocide began.  Between April 1994 and July 1994, members of the majority Hutu population persecuted the minority Tutsis, committing acts of violence, including murder, rape, and sexual violence.  An estimated 800,000 ethnic Tutsis and moderate Hutus were killed during the three-month genocide.

    As alleged in the indictment, Nsabumukunzi used his leadership position as Sector Councilor to oversee the violence and killings of Tutsis in his local sector of Kibirizi and directed groups of armed Hutus to kill Tutsis. He set up roadblocks during the genocide to detain and kill Tutsis and participated in killings and violence.  For example, Nsabumukunzi ordered a group of armed Hutus to locations where Tutsis were sheltering and the Hutus killed them.  Nsabumukunzi also facilitated the rape of Tutsi women by verbally encouraging Hutu men to do so.  According to court filings, Nsabumukunzi has been convicted of genocide in absentia by a Rwandan court.

    As further alleged, Nsabumukunzi applied for refugee resettlement in the United States in August 2003, applied for and received a green card in November 2007, and later submitted applications for naturalization in 2009 and 2015.  Nsabumukunzi lied to United States immigration officials to gain admission to the United States as a refugee, by falsely denying in the applications under penalty of perjury that he ever engaged in genocide.  He repeated those lies in his subsequent applications for a green card and for naturalization.  As a result of his ongoing efforts to conceal his actions during the genocide, Nsabumukunzi has been able to live and work in the United States since 2003.

    The charges in the indictment are allegations and the defendant is presumed innocent unless and until proven guilty.  If convicted on all counts, Nsabumukunzi faces a maximum of 30 years in prison.

    The government’s case is being prosecuted by the Office’s Human Trafficking and Civil Rights Section and the Criminal Section of the Office’s Long Island Division.  Assistant United States  Attorneys Samantha Alessi and Katherine P. Onyshko and Paralegal Specialist Erin Payne are in charge of the prosecution, along with Trial Attorney Brian Morgan from the Criminal Division’s Human Rights and Special Prosecutions (HRSP) Section, with assistance from HRSP Senior Historian Dr. Christopher Hayden.

    The Defendant:

    FAUSTIN NSABUMUKUNZI
    Age: 65
    Bridgehampton, New York

    E.D.N.Y. Docket No. 25-CR-138 (JS)

    MIL Security OSI –

  • MIL-OSI Security: Emmett Man Sentenced to Over 6 Years in Federal Prison for Possessing Child Sexual Abuse Material

    Source: Office of United States Attorneys

    BOISE – Kevin Kirkland, 52, of Emmett, was sentenced to 78 months in federal prison for possession of child sexual abuse material, Acting U.S. Attorney Justin Whatcott announced today.

    According to court records, the investigation began when the Idaho Internet Crimes Against Children (ICAC) Task Force received CyberTip reports from a cloud storage company. A CyberTip is a report submitted to the National Center for Missing and Exploited Children (NCMEC). NCMEC gathers leads and tips regarding suspected online crimes against children and forwards them to the appropriate law enforcement agencies. ICAC determined that numerous egregious files of child sexual abuse material had been uploaded to a cloud storage account, later identified as belonging to Kirkland. ICAC seized Kirkland’s cellphone pursuant to a federal search warrant and located additional files of child sexual abuse material.

    U.S. District Judge Amanda K. Brailsford also sentenced Kirkland to 15 years of supervised release following his prison sentence and ordered him to pay $24,000 in restitution to victims in the images he possessed. Kirkland will be required to register as a sex offender as a result of the conviction.

    “I’m grateful for the continued dedication of our Internet Crimes Against Children Unit and the strong collaboration we have with our federal partners,” said Attorney General Raúl Labrador. “Their tireless work ensures that those who exploit children are brought to justice. Each successful prosecution reaffirms our commitment to protecting Idaho’s most vulnerable and holding offenders fully accountable under the law.”

    Acting U.S. Attorney Whatcott commended the cooperative efforts of the Idaho ICAC Task Force, Homeland Security Investigations, and the Emmett Police Department, which led to charge. Assistant U.S. Attorney Kassandra McGrady prosecuted the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. As part of Project Safe Childhood, the U.S. Attorney’s Office for the District of Idaho and the Idaho Attorney General’s Office partner to marshal federal, state, and local resources to locate, apprehend, and prosecute individuals who sexually exploit children, and to identify and rescue victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc.

    ###

    MIL Security OSI –

  • MIL-OSI: Atos completes reverse stock split

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Atos completes reverse stock split

    Paris, France – April 24, 2025 – Atos SE (the “Company”) announces today the completion of the reverse stock split of the shares comprising its share capital, as decided by the Board of Directors on March 6, 2025, following the delegation of powers by the shareholders’ combined General Meeting of January 31, 2025 (29th resolution).

    The reverse stock split is a purely technical exchange transaction with no direct impact on the total value of the Company’s shares held by each shareholder.

    Terms and conditions of the reverse stock split

    The main terms of this reverse stock split, as detailed in the notice of reverse stock split published in the Bulletin des Annonces Légales Obligatoires (BALO) on March 10, 2025 and in the press release published by the Company on March 7, 2025, are as follows:

    • Basis of the reverse stock split: exchange of 10,000 old shares with a par value of €0.0001 for 1 new share with a par value of €1.
    • Number of old shares subject to the reverse stock split: 190,358,728,519 shares with a par value of 0.0001€.
    • Number of new shares resulting from the reverse stock split: 19,035,872 shares with a par value of 1€.
    • Centralization: the new shares resulting from the reverse stock split were admitted to trading on the regulated market of Euronext in Paris from April 24, 2025, the first day of trading, under ISIN code FR001400X2S4.

    The new shares resulting from the reverse stock split are eligible for the DSS (Deferred Settlement Service) with effect from today.

    Shareholders holding a multiple of 10,000 shares do not need to take any action. These shares were automatically consolidated by their financial intermediary on the basis of 1 new share (€1 par value) for each block of 10,000 old shares (€0.0001 par value).

    Shareholders who were unable to obtain a number of old shares forming a multiple of 10,000 will be compensated for their fractional rights by their financial intermediary within 30 days of April 24, 2025, i.e., until May 25, 2025 inclusive. Shareholders are invited to contact their financial intermediary if they have any questions on this subject.

    Adjustment of the exercise parity for the Warrants issued by the Company

    On March 6, 2025, the Board of Directors, using the delegation of powers granted by the shareholders’ combined General Meeting of January 31, 2025 (29th resolution), decided to adjust the exercise parity of the share subscription warrants issued by the Company on December 18, 2024 (the “Warrants”) in accordance with the terms set out below, which are included in the reverse stock split notice published in the BALO on March 10, 2025.

    As a result of the reverse stock split, the exercise parity of the Warrants corresponds to the product of (i) the exercise parity in force before the start of the reverse stock split and (ii) the ratio between the number of new shares comprising the Company’s share capital after the reverse stock split and the number of old shares comprising the Company’s share capital before the reverse stock split, i.e. 1/10,000, i.e. a maximum number of new ordinary shares to which the Warrants give entitlement in the event of exercise after this reverse stock split, of 1,107,589 new ordinary shares in the Company with a par value of one euro each on exercise of the Warrants.

    Adjustment of the rights of beneficiaries of free allocations of shares

    By decision of the Chairman and Chief Executive Officer of April 24, 2025, the rights of beneficiaries of free share allocations under the Company’s current free share allocation plans were adjusted to take account of reverse stock split transactions.

    As a result, the number of rights allocated to each plan beneficiary will correspond to the product of (i) the number of rights allocated to each plan beneficiary before the start of the reverse stock split, and (ii) the ratio between the number of new shares comprising the Company’s share capital after the reverse stock split and the number of existing shares comprising the Company’s share capital before the reverse stock split, i.e. 1/10,000, it being specified that where the number of rights calculated in this way is not a whole number, the number of rights allocated to the beneficiary will, for each holder, be rounded down to the nearest whole number, in accordance with the doctrine of the tax authorities.

    Timetable of upcoming operations

    April 24, 2025 Effective date of the reverse stock split and first day of trading of new shares (ISIN code: FR001400X2S4)
    From April 24 to May 25, 2025 Compensation period for shareholders with fractional rights through their financial intermediaries
    April 28, 2025 Restart of the period of suspension of exercise of the Warrants

    ***

    About Atos

    Atos is a global leader in digital transformation with circa 74,000 employees and annual revenue of circa €10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 68 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Contacts
    Investor relations:

    David Pierre-Kahn | investors@atos.net | +33 6 28 51 45 96

    Sofiane El Amri | investors@atos.net | +33 6 29 34 85 67

    Individual shareholders: +33 8 05 65 00 75

    Press contact: globalprteam@atos.net

    Attachment

    The MIL Network –

  • MIL-OSI: Landmark Bancorp, Inc. Announces Conference Call to Discuss First Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    Manhattan, KS, April 24, 2025 (GLOBE NEWSWIRE) — Landmark Bancorp, Inc. (Nasdaq: LARK) announced that it will release earnings for the first quarter of 2025 after the market closes on Wednesday, April 30, 2025. The Company will host a conference call to discuss these results on Thursday, May 1, 2025 at 9:30 am (CT). Investors may listen to the Company’s earnings call via telephone by dialing (833) 470-1428 and using access code 866149. Investors are encouraged to call the dial-in number at least 5 minutes prior to the scheduled start of the call.

    A replay of the earnings call will be available through May 8, 2025, by dialing (866) 813-9403 and using access code 282640.
            
    About Landmark

    Landmark Bancorp, Inc., the holding company for Landmark National Bank, is listed on the NASDAQ Global Market under the symbol “LARK.” Headquartered in Manhattan, Kansas, Landmark National Bank is a community banking organization dedicated to providing quality financial and banking services. Landmark National Bank has 29 locations in 23 communities across Kansas: Manhattan (2), Auburn, Dodge City (2), Fort Scott (2), Garden City, Great Bend (2), Hoisington, Iola, Junction City, LaCrosse, Lawrence (2), Lenexa, Louisburg, Mound City, Osage City, Osawatomie, Overland Park, Paola, Pittsburg, Prairie Village, Topeka (2), Wamego and Wellsville, Kansas. Visit www.banklandmark.com for more information.

    Contact:
    Mark A. Herpich
    Chief Financial Officer
    (785) 565-2000

    The MIL Network –

  • MIL-OSI: WENDEL: Q1 2025 Trading update

    Source: GlobeNewswire (MIL-OSI)

    Q1 2025 NAV per share at €176.7

    Continued strategic deployment :

    €34bn of private Assets under Management for third parties

    Solid financial structure:
    Strong liquidity and LTV ratio at 17.2%

    Fully diluted Net Asset Value1as of March 31, 2025: €176.7 per share

    • Fully diluted NAV per share down -4.8% since the start of the year reflecting market volatility and evolution of valuation multiples:
      • Listed assets (29% of Gross Asset Value): flat total value year-to-date
      • Unlisted assets (33% of GAV): total value down 7.3%, mainly due to lower market multiples
      • Following the acquisition of Monroe Capital, Asset Management now represents 17% of GAV

    Good performance of Group companies in Q1 20205

    • Principal investments: all Group companies generated positive total sales growth in Q1, except Scalian

    Asset management: good momentum in fundraising and revenue growth

    • IK Partners’ revenues up +33% in Q1. Successful closing of the IK X flagship fund at €3.3 billion, the largest fund raised in its history and continued momentum in fundraising of IK Small & Dev Cap
    • Altogether IK Partners and Monroe have successfully raised more than €3 billion of new funds on various strategies over Q1 2025

    Successful implementation of new strategic directions

    • Principal Investments: successful Forward Sale of 6.7% of Bureau Veritas’ share capital, at a price of €27.25 per share on March 12, 2025
      • Wendel entered into a call spread transaction to benefit from up to c.15% of the stock price appreciation over the next three years on the equivalent number of shares underlying the Forward Sale Transaction
      • Total net proceeds for Wendel of €750 million
      • Wendel has retained 26.5% of the share capital and 41.2% of the voting rights of Bureau Veritas
    • Asset Management: With Monroe Capital acquisition, Wendel’s third party asset management platform reached €34 billion in AUM2
      • On March 31, 2025, Wendel has invested $1.133 billion to acquire 72% of Monroe Capital’s shares together with rights to c.20% of the carried interest generated on past and future funds

    Dividend: €4.70 per share, up 17.5%, proposed to May 15, 2025, AGM

    • c.2.5% of NAV as of December 31, 2024, as stated in the strategic roadmap
    • Representing a yield of c. 5.5% compared to the current share price4

    Strong financial structure and committed to remaining Investment Grade

    • Debt maturity of 3.4 years with an average cost of 2.4%
    • LTV ratio at 17.2%5 as of March 31, 2025, on a pro forma basis
    • Pro forma total liquidity of €1.76 billion as of March 31, 2025, including c.€800 million in cash and €875 million in committed credit facility (fully undrawn)
    • On March 31, 2025, S&P revised Wendel outlook to ‘Stable’ from ‘Negative’ on debt reduction and reaffirmed its ‘BBB’ rating
    Laurent Mignon, Wendel Group CEO, commented:

    “The first quarter of 2025 marks a significant milestone for Wendel, with the successful closing of Monroe Capital’s acquisition, materializing our strategy to grow third-party asset management alongside our principal investment activity. With €34 billion of assets under management and €3.4 billion raised in Q12025 now with Monroe Capital and IK Partners, we are building a strong and significant Asset management player generating recurring and predictable income, enhancing significantly Wendel’s value creation profile.

    We also successfully completed a forward sale of Bureau Veritas shares, achieved in good conditions, generating €750M of proceeds, that, combined with our financial discipline, contributed to significantly improve of our LTV ratio. This strengthened financial profile is a key lever to successfully deliver our 2027 value creation roadmap. Our teams remain fully mobilized to generate value through the current portfolio and put in place the asset management platform.”

    Wendel’s net asset value as of March 31, 2025: €176.7 per share on a fully diluted basis

    Wendel’s Net Asset Value (NAV) as of March 31, 2025, was prepared by Wendel to the best of its knowledge and on the basis of market data available at this date and in compliance with its methodology.

    Fully diluted Net Asset Value was €176.7 per share as of March 31, 2025 (see detail in the table below), as compared to €185.7 on December 31, 2024, representing a decrease of -4.8% since the start of the year. Compared to the last 20-day average share price as of March 31, the discount to the March 31, 2025, fully diluted NAV per share was -47.9%.

    Bureau Veritas contributed negatively to Net Asset Value, as end of March 2025, its 20-day average share price was down YTD (-3.2%). IHS Towers (+37.2%) and Tarkett (+55.5%) 20-day average share prices impacted positively the NAV. Total value creation per share of listed assets was therefore neutral (+€0.0) on a fully diluted basis over the first quarter.

    Unlisted asset contribution to NAV was negative over the course of the quarter with a total change per share of -€6.5 reflecting overall multiples’ decrease.

    Asset management activities contribution to NAV was slightly negative, -€0.8, due to IK Partners multiples’ evolution. A total of €29M of sponsor money is included in the NAV as of end of March, both for IK Partners and Monroe.

    Cash operating costs, Net Financing Results and Other items impacted NAV by -€1.7, as Wendel benefits from a positive carry and maintains a good cost control.

    Total Net Asset Value evolution per share amounted to -€9.0 since the start of the year.

    Fully diluted NAV per share of €176.7 as of March 31, 2025

    (in millions of euros)     03/31/2025 12/31/2024
    Listed investments Number of shares Share price (1) 2,965 3,793
    Bureau Veritas 89.9m(2)/120.3m €28.5/€29.5 2,565 3,544
    IHS 63.0m/63.0m $4.4/$3.2 254 192
    Tarkett   €16.4/€10.5 146 57
    Investment in unlisted assets (3) 3,346 3,612
    Asset Management Activities (4) 1,778 616
    Asset Managers (IK Partners & Monroe) 1,749 616
    Sponsor Money 29 –
    Other assets and liabilities of Wendel and holding companies (5) 161 174
    Net cash position & financial assets (6) 2,058 2,407
    Gross asset value     10,308 10,603
    Wendel bond debt     -2,378 -2,401
    IK Partners transaction deferred payment and Monroe earnout -244 -131
    Net Asset Value     7,686 8,071
    Of which net debt     -564 -124
    Number of shares     44,461,997 44,461,997
    Net Asset Value per share €172.9 €181.5
    Wendel’s 20 days share price average   €92.0 €93.5
    Premium (discount) on NAV -46.8% -48.5%
    Number of shares – fully diluted 42,456,176 42,466,569
    Fully diluted Net Asset Value, per share €176.7 €185.7
    Premium (discount) on fully diluted NAV -47.9% -49.6%

    (1)  Last 20 trading days average as of March 31, 2025, and December 31, 2024.
    (2)  Number of shares adjusted from the Forward Sale Transaction of 30,357,140 shares of Bureau Veritas. The value of the call spread transaction to benefit from up to c.15% of the stock price appreciation on the equivalent number of shares is taken into account in Other assets & liabilities.
    (3)  Investments in unlisted companies (Stahl, Crisis Prevention Institute, ACAMS, Scalian, Globeducate, Wendel Growth). Aggregates retained for the calculation exclude the impact of IFRS16.
    (4)  Investment in IK Partners (excl. Cash to be distributed to shareholders), in Monroe and sponsor money.
    (5)  Of which 2,005,821 treasury shares as of March 31, 2025, and 1,995,428 as of December 31, 2024.
    (6)  Cash position and short-term financial assets of Wendel & holdings.
    Assets and liabilities denominated in currencies other than the euro have been converted at exchange rates prevailing on the date of the NAV calculation.
    If co-investment and managements LTIP conditions are realized, subsequent dilutive effects on Wendel’s economic ownership are accounted for in NAV calculations. See page 285 of the 2024 Registration Document.

    Wendel’s Principal Investments’ portfolio rotation

    On March 12, 2025, Wendel realized a successful placement of Bureau Veritas shares as part of a prepaid 3-year forward sale representing approximately 6.7% of Bureau Veritas share capital and increased its financial flexibility by reducing the pro forma loan-to-value ratio to approximately 17%. The transaction immediately generated net cash proceeds of approximately €750M to Wendel.

    Wendel reinvested €11.5m in Scalian upon the acquisition of a specialized IT services player focused on the Defense sector in January 2025.

    Wendel’s Asset Management platform evolution

    Acquisition of a controlling stake in Monroe Capital LLC closed, a transformational transaction in line with the strategic roadmap

    Wendel completed on March 31, 2025 the definitive partnership agreement including the acquisition, together with AXA IM Prime, of 75% of Monroe Capital LLC (“Monroe Capital” or “the Company”), and a sponsoring program of $800 million to accelerate Monroe Capital’s growth, together with an investment of up to $200 million in GP commitment.

    With IK Partners and Monroe Capital, Wendel’s third party asset management platform reached €34 billion in AUM7, and should generate, on a full-year basis, c.€ 455 million revenues8, c.€160 million pre-tax FRE (c.€100 million in pre-tax FRE (Wendel share) in 2025. Wendel’s ambition is to reach €150 million (Wendel share) in pre-tax FRE in 2027.

    Strong value creation and performance of Third Party Asset Management (17% of Gross Asset Value)

    Q1 2025 performance

    Over the first quarter of 2025, IK Partners registered again particularly strong levels of activity, generating a total of €46.4 million in revenue, up 33 % vs. Q1 2024. Total Assets under Management (€14.9 billion, of which €4.8 billion of Dry Powder9) grew by 8% since the beginning of the year, and FPAuM10 (€10.2 billion) by 2%. Over the period, €0.64 billion of new funds were raised (IK X, IK PF III, IK SC IV and IK CV I) and 2 exits have been realized, for over €0.26 billion.

    As of March 31, 2025, Wendel’s third party asset management platform11 represented total assets under management of €34 billion and achieved €3.4 billion of fundraising.

    Sponsor money invested by Wendel

    Wendel committed €500 million in IK Partners funds (of which €300 million in IK X). As of March 31, 2025, €29 million of sponsor money have been called in IK Partners and Monroe Capital funds.

    Principal Investment companies’ sales

    Listed Assets: 29% of Gross Asset Value

    Bureau Veritas – A robust first quarter and an unchanged 2025 outlook; Increased returns to shareholders with a €200m share buyback program
    (full consolidation)

    Bureau Veritas revenue in the first quarter of 2025 amounted to €1,558.7 million, an 8.3% increase compared to the first quarter of 2024. Bureau Veritas delivered an organic growth of 7.3%.
    Three businesses led the growth: Industry, up 14.3%, Marine & Offshore, up 11.8%, and Certification, up 10.9%. Agri-Food & Commodities grew 6.0% while both Consumer Products Services and Buildings & Infrastructure grew low-single-digit organically in the first quarter of 2025.
    The scope effect was a positive 1.4%, reflecting bolt-on acquisitions (contributing to +3.0%) finalized in the past few quarters and partly offset by the impact of divestments completed over the last twelve months (contributing to -1.6%). Currency fluctuations had a negative impact of 0.4%, due to the strength of the euro against most currencies.

    2025 Share buyback program
    On April 24, 2025, Bureau Veritas announces a new EUR 200 million share buyback program to be completed by the end of June 2025. This decision reflects the Group’s confidence in its resilient business model and takes advantage of the current share price.

    2025 Outlook unchanged

    • While customers are navigating an uncertain period, Bureau Veritas has a robust opportunities pipeline, a solid backlog, and mid-to-long-term strong market fundamentals. Therefore, Bureau Veritas keeps its outlook unchanged, and expects to deliver for the full year 2025: Mid-to-high single-digit organic revenue growth;
    • Improvement in adjusted operating margin at constant exchange rates;
    • Strong cash flow, with a cash conversion12 above 90%.

    For more information: https://group.bureauveritas.com

    IHS Towers – IHS Towers will report its Q1 results in May 2025

    Tarkett reported its Q1 on April 17, 2025

    For more information: https://www.tarkett-group.com/en/investors/

    Unlisted Assets: 33% of Gross Asset Value

      Sales (in millions)
      Q1 2024 Q1 2025
    Stahl €225.6 €231.0
    CPI $29.0 $30.7
    ACAMS $20.7 $22.0
    Scalian €140.6 €131.8
    Globeducate (1) n/a €109.6

    (1)   Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. 3 months revenue from December 1, 2024, to February 28, 2025.

    Stahl – Total sales13up +2.4% in Q1 2025, in challenging market conditions
    (full consolidation)

    Stahl, the world leader in specialty coatings for flexible materials, posted total sales of €231.0 million in Q1 2025, representing a total increase of +2.4% versus Q1 2024.

    Q1 2025 was marked by increased levels of market uncertainty driven by geopolitical and trade tensions. Organic growth was -5.4%, against a high comparison basis with Q1 2024 (when sales grew organically by +9.8%). Scope contributed positively by +8.1% thanks to the Weilburger Graphics acquisition completed in September 2024, while FX was negative (-0.3%).

    Proforma for the sale of the wet-end leather chemicals activities, total growth over the quarter would have been +6.0%.

    Crisis Prevention Institute – Revenue growth of +5.8% as compared with Q1 2024

    (full consolidation)

    Crisis Prevention Institute recorded first quarter 2025 revenue of $30.7 million, up +5.8% vs. Q1 2024. Of this increase, +5.3% was organic growth, -0.9% came from FX movements and +1.4% from scope effect. Despite ongoing federal oversight and funding uncertainty for some of CPI’s customers, staff training sessions have continued to grow, however customers have been slower to add or replace new certified instructors during this period of uncertainty.

    On January 21, 2025, CPI announced the acquisition of Verge, a Norwegian leader in behavior intervention and training. This acquisition extends CPI’s presence in the Nordics, and enhances CPI’s ability to support professionals worldwide, leveraging Verge’s innovative techniques to address challenging behaviors, aggression and violence.

    ACAMS – Total sales up +6.4% in Q1, reflecting double-digit growth in the core North American segment as well as continued momentum in the conference sponsorship & exhibition business

    (full consolidation)

    ACAMS, the global leader in training and certifications for anti-money laundering and financial-crime prevention professionals, generated total revenue of $22.0 million, up +6.4% compared to the first quarter of 202414. First-quarter results were driven by double-digit growth in the core North American segment, with both bank and non-bank customers, as well as improved conference sponsorship & exhibition sales, offset by headwinds in select EMEA and APAC markets.

    Q1 growth reflects momentum from recent strategic and organizational changes including the senior leadership additions in 2024, a shift in focus to selling solutions for large enterprise customers, market expansion with the introduction of the Certified Anti-Fraud Specialist certification (CAFS), and investments in the technology platform. ACAMS anticipates continued growth in 2025 as these strategic changes and investments take hold.

    Scalian – Decrease of total sales of -6.3% in Q1 2025, in the context of continued market growth slowdown. Acquisition of a French IT services specializing in the defense sector in January 2025.

    (full consolidation)  

    Scalian, a leading consulting firm in digital transformation and operational performance reported total sales of €131.8M as of March 31, 2025, a -6.3% decrease vs. last year. The slowdown is spread across several sectors and geographies particularly automotive in Europe and Aeronautics (supply chain disruptions). Sales are down -11.2% organically but have benefited from a positive scope effect of +4.9%.

    In January 2025, Scalian completed the acquisition of a French IT services specialist. The acquisition was funded through shareholders’ equity contribution, including a €11.5m equity injection from Wendel in Scalian. This acquisition further reinforces Scalian’s unique positioning in the OT/IT space and is fully in line with the buy-and-build strategy implemented by the Group and which has resulted in the acquisitions of Yucca in 2023 as well as Mannarino and Dulin in 2024.

    Globeducate – Revenue growth of +11%15

    (Accounted for by the equity method. Globeducate acquisition was completed on October 16th, 2024. Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. 3 months revenue from December 1, 2024- February 28, 2025.)

    Globeducate, one of the world’s leading bilingual K-12 education groups, recorded first quarter 2025 revenue of €109.6 million, up +11% vs. Q1 2024. Of this increase, +3.5% came from accretive M&A transactions.

    Over September and November 2024, Globeducate completed 2 acquisitions:1 in Cyprus (Olympion School) and 1 in the UK (Ecole des Petits).

    Preliminary estimated impact of new tariffs on Wendel’s businesses

    Wendel Group’s companies are mainly business services, and are therefore only slightly directly impacted by conflicts over tariffs. For industrial companies (Stahl and Tarkett), these two companies have production units generally located in the countries in which they generate their revenues. According to the information available, the direct impact for these two companies is limited. The lack of visibility on the evolution of tariffs, as well as their real impact on global economic growth and USD exchange rates, constitute the main risk on the value creation potential of our assets.

    1 Fully diluted of share buybacks and treasury shares. Without adjusting for dilution, NAV stands at €7,719m and €173.6 per share.
    2 As of end of March 2025, AuM of IK Partners and Monroe Capital

    3 This amount includes usual closing adjustments

    4 Share price as of April 23, 2025: €86.05

    5 Including sponsor money commitment in IK (-€500m partly called as of 03.31.2025) & expected commitments in Monroe Capital (-$200m partly called as of 03.31.2025), IK Partners transaction deferred payment (-€131m), Monroe Capital 100% acquisition (including estimated earnout and puts on residual capital, i.e -$528M).

    6 €2.1bn of cash as of March 31, 2025, restated from sponsor money commitment in IK (-€500m partly called as of 03.31.2025) & expected commitments in Monroe Capital (-$200m partly called as of 03.31.2025), IK Partners transaction deferred payment (-€131m), Monroe Capital 100% acquisition (including estimated earnout and puts on residual capital, i.e -$528M).

    7 As of end of March 2025

    8 Based on USD/EUR exchange rate of 1.05

    9 Commitments not yet invested

    10 Fee Paying AuM

    11 IK Partners and Monroe Capital

    12 (Net cash generated from operating activities – lease payments + corporate tax)/adjusted operating profit.

    13 Total sales including wet-end activities, of which sale closing is expected in Q2 2025.

    14 Revenue in Q1 2024 excludes PPA restatement impact of $0.3m. Including this restatement, revenue is $20.4m in Q1 2024.

    15 Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. 3 months revenue from December 1, 2024 to February 28, 2025. These figures are compared with the same period last year and are estimated and non audited, accordingly, changes in percentages are rounded to the nearest whole figure.

    Agenda

    Thursday, May 15, 2025, at 3 PM CEST

    Annual General Meeting

    Wednesday, July 30, 2025

    H1 2025 results – Publication of NAV as of June 30, 2025, and condensed Half-Year consolidated financial statements (post-market release)

    Thursday, October 23, 2025

    Q3 2025 Trading update – Publication of NAV as of September 30, 2025 (post-market release)

    Friday, December 12, 2025

    2025 Investor Day.

    About Wendel

    Wendel is one of Europe’s leading listed investment firms. Regarding its principal investment strategy, the Group invests in companies which are leaders in their field, such as ACAMS, Bureau Veritas, Crisis Prevention Institute, Globeducate, IHS Towers, Scalian, Stahl and Tarkett. In 2023, Wendel initiated a strategic shift into third-party asset management of private assets, alongside its historical principal investment activities. In May 2024, Wendel completed the acquisition of a 51% stake in IK Partners, a major step in the deployment of its strategic expansion in third-party private asset management and also completed in March 2025 the acquisition of 72% of Monroe Capital. As of March 31, 2025, Wendel manages 34 billion euros on behalf of third-party investors, and c.6.3 billion euros invested in its principal investments activity.

    Wendel is listed on Eurolist by Euronext Paris.

    Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 

    Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture” in 2012.

    For more information: wendelgroup.com

    Follow us on LinkedIn @Wendel 

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    The MIL Network –

  • MIL-OSI Security: Six Individuals Indicted on Charges of Criminal Conspiracy Involving Illegal Drugs and Firearms

    Source: Office of United States Attorneys

    Yakima, Washington – The U.S. Attorney’s Office for the Eastern District of Washington announced today that six people are in federal custody following the return of an indictment alleging 20 criminal counts involving drug trafficking and firearms.

    On April 22, 2025, the Drug Enforcement Administration; Federal Bureau of Investigation; Bureau of Alcohol, Tobacco, Firearms and Explosives; Homeland Security Investigations, and the Moses Lake Police Department executed a number of federal search warrants at several locations, seizing nine firearms. The guns were seized as part of an Organized Crime Drug Enforcement Task Force (OCDETF) investigation into a drug trafficking network operating in Eastern Washington.

    According to unsealed charging documents, the following individuals have been charged in connection to the investigation. In addition, the names of others indicted in connection with this investigation will be unsealed upon the arrest of those individuals.

    • Jose Luis Martinez-Parra, charged with Conspiracy to Distribute Methamphetamine and Fentanyl, Distribution of 50 Grams or More of Actual (Pure) Methamphetamine, Distribution of Fentanyl, Distribution of 40 Grams or More of Fentanyl
    • Alexander Martinez-Mendoza, 18, charged with Conspiracy to Distribute Methamphetamine and Fentanyl, Distribution of 40 Grams or More of Fentanyl
    • Luis Martin Navarro-Ceballos, 29, charged with Conspiracy to Distribute Methamphetamine and Fentanyl, Distribution of 50 Grams or More of Actual (Pure) Methamphetamine, Carrying Firearm During Drug Trafficking, Alien in Possession of a Firearm
    • Maria Zamora-Cuevas, 33, charged with Conspiracy to Distribute Methamphetamine and Fentanyl
    • Rosa Zamora, 41, charged with Conspiracy to Distribute Methamphetamine and Fentanyl
    • Triston David Duplichan, 29, Conspiracy to Distribute Methamphetamine and Fentanyl, Possession with Intent to Distribute Fentanyl

    The individuals were arraigned at the Yakima Federal Courthouse on Wednesday, April 23, 2025.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    The Drug Enforcement Administration, Federal Bureau of Investigation, the Bureau of Alcohol, Tobacco, Firearms and Explosives, Homeland Security Investigations, and the Moses Lake Police Department investigated this case. Additional assistance was provided by the Yakima Police Department, the U.S. Marshals Service and the Bureau of Indians Affairs. The case is being prosecuted by Assistant United States Attorney Benjamin D. Seal.

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

    1:25-CR-2049-SAB

    MIL Security OSI –

  • MIL-OSI Security: Former Owner Of York Pain Management Practice Sentenced To 42 Months For Health Care Fraud, Money Laundering, And Theft Of Public Money

    Source: Office of United States Attorneys

    HARRISBURG – The United States Attorney’s Office for the Middle District of Pennsylvania announced that Rodney L. Yentzer, age 55, formerly of Carlisle, Pennsylvania and currently in Chuluota, Florida, was sentenced to 42 months imprisonment on charges of conspiracy to commit health care fraud, conspiracy to commit money laundering, and theft of public money. He was also ordered to pay an additional $2,993,386.19 in restitution after having paid $900,000 toward a civil settlement with the United States in 2022.

    According to Acting United States Attorney John C. Gurganus, Yentzer previously admitted to defrauding Medicare and the U.S. Department of Health and Human Services between 2016 and 2020 and pleaded guilty to the three offenses for which he was sentenced. Yentzer agreed with others to defraud Medicare by submitting medically unnecessary urine drug tests for chronic opioid patients at medical clinics he controlled, including a group of clinics known as Pain Medicine of York or “PMY” (also known as All Better Wellness).

    “This defendant’s only interest was in his own wealth, and he exploited patients and defrauded a state healthcare system designed to promote wellness for vulnerable residents in order to line his pockets,” Pennsylvania Attorney General Dave Sunday said. “I commend our federal partners for collaborating with our team on a comprehensive investigation that culminated in a significant prison sentence.”

    Yentzer assumed control of various medical practices between 2014 and 2018, including the original PMY location, which he acquired in 2014. The medical practices he later took control of included a group of clinics run by John H. Johnson, who was referred to as “Physician 1” in the February 2022 charges against Yentzer.

    In July 2015, John H. Johnson was indicted for various tax offenses in the U.S. District Court for the Western District of Pennsylvania. In September 2016, John H. Johnson was charged in the U.S. District Court for the Southern District of Florida with conspiracy to commit mail fraud and wire fraud in connection with a separate health care fraud scheme. Johnson was sentenced to 84 months in federal prison on June 30, 2017 for accepting kickbacks in exchange for referring patients for medically unnecessary tests and for failing to pay employment taxes. He was also ordered to repay to the U.S. Government over $3 million restitution payments for fraudulent health care billing and unpaid taxes. Johnson surrendered to federal custody that same day. Following Johnson’s incarceration, the operation of his medical clinics was transitioned to PMY, which was also under Yentzer’s control.

    Prior to Johnson’s incarceration, Yentzer took direction from Johnson on various issues, including clinical issues at PMY. In 2016, Johnson advised Yentzer to put in place the practice of ordering multiple urine drug tests for each patient at every PMY office visit, and Yentzer agreed. Yentzer understood that this practice did not constitute individualized care, as required by Medicare, and was subsequently confronted repeatedly with information about the unlawful nature of the billing practices for urine drug tests. Nonetheless, Yentzer decided to keep this practice in place until PMY was shut down in late 2019, following a law enforcement raid.

    PMY billed Medicare for more than $10 million in urine drug tests from mid-2017 through the end of 2019, and Medicare paid out over $4 million for these urine drug tests. Pennsylvania’s Medicaid program was also billed for urine drug tests during this same time period. The urine drug tests ordered by PMY were sent to an in-house laboratory at PMY whenever possible. As a result, when medically unnecessary tests were billed to Medicare, Medicaid, or, in some cases, private insurance companies, the proceeds from them went to PMY itself.

    The proceeds from the health care fraud scheme were then used for the benefit of Yentzer, Johnson, Johnson’s wife, and Florentina Mayko, the former CEO of PMY. Yentzer bought a number of luxury items with those funds, such as a Rolex Submariner with a retail price of almost $37,000 for himself and a four-carat diamond ring worth over $40,000 for his wife, in addition to a set of approximately $7,000 Rolex watches for himself, John H. Johnson, and another friend and business associate. Yentzer also bought luxury vehicles for himself and his family members, such as a Porsche Boxster, a custom-built car trailer for almost $290,000, and an RV for approximately half a million dollars. Yentzer also made substantial upgrades to his home in Carlisle, PA, which he sold for approximately $1.3 million in 2022 to make restitution and civil settlement payments to the United States.

    Before reporting to prison, Johnson asked Yentzer to place his wife, Paula Z. Johnson— known as “Physician 2” in the charges against Yentzer—on the PMY payroll. In order to make it appear that she was performing legitimate work—even though she had not practiced medicine in years—Yentzer and John H. Johnson agreed that Paula Z. Johnson would periodically send Yentzer an email containing summaries and excerpts of medical literature. She received a large salary and also had a PMY employee come to her home once a week to perform yardwork and other household duties. This financial arrangement allowed John H. Johnson to share in PMY’s financial success without his assets being seized by the federal government for purposes of restitution payments.

    John H. Johnson, Paula Z. Johnson, and Rodney L. Yentzer devised various other ways to funnel money to the Johnsons so that they could benefit from this wealth without the money being captured for John H. Johnson’s restitution payments. Among other things, Yentzer purchased a car for the Johnsons’ son and leased an Audi Q5 for Paula Z. Johnson, at her request. Yentzer also made $28,000 in contributions to their children’s 529 college savings accounts, paid over $40,000 in legal bills for “asset and estate planning,” made over $40,000 in payments toward personal loans, and covered other large bills, all with the knowledge of both John H. Johnson and Paula Z. Johnson. On a number of occasions, Paula Z. Johnson requested these payments directly from Yentzer or his assistant.

    PMY shut down abruptly in November 2019 after search warrants were executed because it was no longer able to retain medical providers to see patients.

    In April 2020, Yentzer received over $191,000 in U.S. Department of Health and Human Services stimulus money that was intended for health care providers who had health care related expenses and lost revenues attributable to COVID19. Yentzer obtained these funds even though after he had resigned from PMY the prior month and PMY had been closed since late 2019. Yentzer allegedly used these funds on various things unrelated to COVID19 relief, including personal expenses.

    In December 2023, Florentina Mayko, the former CEO of PMY, was sentenced to 30 months in prison for her role in the same health care fraud scheme. Mayko was also ordered to pay $1,408,976.48 in restitution and to forfeit to the United States several properties located in Ocean City, Maryland and Myrtle Beach, South Carolina that she had purchased used proceeds of the health care fraud scheme.

    In September 2024, John H. Johnson was sentenced to 97 months in federal prison and ordered to pay an additional $2.3 million in restitution on top of the restitution that he was ordered to pay in 2017. Paula Z. Johnson was sentenced to three years of probation, including six months of home detention with location monitoring, and was ordered to immediately pay $249,301.36 in restitution, fines, and assessments.

    The case was investigated by the U.S. Department of Health and Human Services Office of Inspector General, Federal Bureau of Investigation, Drug Enforcement Administration Diversion Control Program, and the Pennsylvania Office of Attorney General. Assistant U.S. Attorney Ravi Romel Sharma and Special Assistant U.S. Attorney Robert Smultkis prosecuted the case.

    # # #

    MIL Security OSI –

  • MIL-OSI Security: Former Abilene preschool teacher sentenced to 30 years in federal prison for producing child pornography

    Source: Office of United States Attorneys

    A former Abilene preschool teacher, Mark Penfield Eichorn, was sentenced today to 30 years in federal prison for producing child pornography, announced Acting United States Attorney for the Northern District of Texas Chad E. Meacham.  Eichorn admitted that he paid two young boys, ages 12 and 13, to record videos of themselves performing sexual acts on each other.

    Mark Penfield Eichorn, 28, was indicted in June 2024 and pleaded guilty in October 2024 to Production of Child Pornography.  He was sentenced to 360 months’ imprisonment, the statutory maximum, by U.S. District Judge James Wesley Hendrix, who also ordered Eichorn to pay $66,087.50 in restitution.

    “Stopping horrendous acts against children, such as those in this case, is a core mission of this Office,” said Acting U.S. Attorney Chad E. Meacham.  “We hope that the maximum punishment in this case serves as a message to other child predators, and that the victims and their families find some measure of comfort knowing that this abuser will be off the streets for a very long time.”

    “This defendant made the depraved decision to exploit children, not only failing to meet any standard of human decency but choosing to victimize them through the production of sexually explicit materials,” said Special Agent in Charge Travis Pickard Homeland Security Investigations Dallas.  “I’m grateful for the collaborative effort between our law enforcement partners who assisted in this investigation, ensuring Mr. Eichorn will spend the next 30 years behind bars, unable to harm an innocent child again.”

    According to court documents, Eichorn admitted to struggling with desires to sexually assault children since 2019.  During this time, he continued to work with children.  He also admitted to being involved in child pornography trading groups across various Internet platforms, such as Kik and Telegram.  Eichorn confessed to possessing and trading prepubescent child pornography online.  Among the disturbing material was a video involving a child between the ages of 10 and 12-years-old engaged in sexually explicit conduct. 

    At the time of his arrest, Eichorn was employed as a teacher at a local private school. Eichorn initiated contact with one of the child victims in this case and offered to send him $100 per week to be his “Sugar Daddy.”  Eichorn admitted that he subsequently paid both victims hundreds of dollars to produce videos of themselves engaged in sexually explicit conduct. 

    At sentencing, Judge Hendrix told Eichorn that the maximum sentence is warranted especially for “protection of the public.”  In imposing the maximum sentence, Judge Hendrix said, “I have to make a lot of difficult decisions.  This is not one of them.”

    Acting U.S. Attorney Meacham praised the joint efforts of the law enforcement agencies that conducted the investigation, including Homeland Security Investigations—Abilene Resident Agency, the Abilene Police Department, and the Forsyth County Sheriff’s Office in Georgia.  Assistant U.S. Attorney Whitney Ohlhausen prosecuted the case.

    The case was brought as part of Project Safe Childhood, a nationwide initiative, which was launched in May 2006 by the Department of Justice, to combat the growing epidemic of child sexual exploitation and abuse.  Led by U.S. Attorney’s Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals, who sexually exploit children, and identify and rescue victims.  For more information about Project Safe Childhood, please visit http://www.justice.gov/psc.  For more information about internet safety education, please visit http://www.justice.gov/psc and click on the tab “resources.”
     

    MIL Security OSI –

  • MIL-OSI Security: Former Detroit Riverfront Conservancy Chief Financial Officer Sentenced for Embezzling over $40 Million from the Conservancy

    Source: Office of United States Attorneys

    DETROIT – Former Detroit Riverfront Conservancy Chief Financial Officer William A. Smith was sentenced to 19 years in prison today for embezzling over $40 million from his employer over an eleven year period, announced Acting United States Attorney Julie Beck. Smith was also sentenced to a three year term of supervised release, ordered to pay approximately $44.3 million in restitution, and ordered to forfeit ill-gotten gains that were traceable to his scheme.

    Beck was joined in the announcement by Cheyvoryea Gibson, Special Agent in Charge of the FBI’s Detroit Field Office and Charles Miller, Special Agent in Charge of the IRS-Criminal Investigations Detroit Field Office.

    Smith, 52, pleaded guilty in November 2024 to one count of wire fraud and one count of money laundering before United States District Judge Susan K. DeClercq.

    Acting United States United States Attorney Beck stated, “William Smith stole an astonishing amount of money from an important community institution, and he spent that money to finance an extravagant lifestyle. Every dollar that Smith spent on luxury goods for himself is dollar that the Conservancy could not spent beautifying and improving our city’s riverfront. This is one of the most egregious economic crimes in recent memory in this District. Smith has now been held accountable for his criminal activity and we hope that today’s sentence deters any others who contemplate enriching themselves at the expense of a public trust.”

    “Today’s sentencing of William Smith marks the conclusion of a scheme, spanning more than a decade, deeply violating the trust of his employer and the community,” said Cheyvoryea Gibson, Special Agent in Charge of the FBI Detroit Field Office. “Mr. Smith exploited his position of authority for personal financial gain. This outcome is the hard work and dedication from members assigned to the FBI Detroit’s Complex Financial Crimes (CFC) Squad and the successful prosecution by the U.S. Attorney’s Office of the Eastern District of Michigan. We remain committed to working with our partners to investigate and pursue those who violate federal laws.”

    “As the trusted leader of a local advocacy nonprofit, William Smith had a duty to be a responsible steward of the organization’s funds, especially the money raised to beautify and increase access to the Detroit Riverfront,” said Special Agent in Charge Charles Miller, Detroit Field Office, IRS Criminal Investigation (IRS-CI). “Mr. Smith proved he did not deserve that trust when he stole over $40 million from the Conservancy and by proxy, everyone who would enjoy the riverfront for many years to come. IRS Criminal Investigation is proud to work with the US Attorney’s Office of Eastern Michigan and our law enforcement partners to ensure that justice is served, and Mr. Smith is held accountable for such an egregious breach of trust;  stealing a huge amount of money to fund his personal lifestyle.”

    According to court documents, Smith Smith was employed as the Chief Financial Officer for the Detroit Riverfront Conservancy, Inc. (the Conservancy) from 2011 through May 2024.  The Conservancy is a 501(c)(3) organization formed with the mission of developing access to the Detroit riverfront. The Conservancy envisions creation of a continuous Riverwalk from the Ambassador Bridge in the west to Gabriel Richard Park in the east, along with plazas, pavilions, and green spaces.  Funding for the Conservancy is provided by both private donors and public grants. In his position as Chief Financial Officer of the Conservancy, Smith enjoyed substantial discretion in overseeing and managing the Conservancy’s financial affairs.

    Court Documents indicate that beginning no later than November 2012 and continuing until May 2024, Smith orchestrated a scheme to embezzle millions of dollars in funds belonging to the DRFC.  The embezzlement scheme took three principal forms:

    •          First, Smith diverted Conservancy funds from the organization’s bank accounts to a bank account in the name of  “The Joseph Group, Inc.,” an entity owned and controlled by Smith. The Joseph Group was not an approved vendor for the Conservancy and provided no goods or services of any kind to the organization. However, between February 2013 and May 2024, Smith transferred approximately $24.4 million from the Conservancy’s bank accounts to an account in the name of the Joseph Group.

    •          Second, Smith maintained an American Express account in the name of another of the many entities he owned and controlled, this one called “William Smith & Associates LLC.”  There were four American Express credit cards issued on this account. Between November 2012 and May 2024, Smith used approximately $14.9 million in Conservancy funds to pay off purchases made on this account. None of these expenditures were authorized by the Conservancy, which maintained other credit card accounts for Conservancy purchases. Smith used the American Express account to purchase furniture, designer clothing, handbags, lawn care services, airline tickets, and other consumer goods and services for himself and his family.

    •          Third, Smith used Conservancy funds to purchase cashier’s checks from various financial institutions. These cashier check purchases were unauthorized, and Smith used the cashier’s checks for his own purposes without the knowledge or approval of the Conservancy’s Board of Directors.

    Court documents indicate Smith engaged in various practices to cover up and sustain this massive fraud scheme. In some instances, Smith falsified bank statements that he provided to the Conservancy’s bookkeeper, altering or deleting unauthorized transfers on the statements in order to keep them off of the Conservancy’s books. In at least one other instance, he took out a line of credit with a financial institution (Citizen’s Bank) on behalf of the Conservancy. Smith claimed to be acting with the authorization of the Conservancy’s Board of Directors in taking out this line of credit. In fact, Smith had no such authority, and the documents he provided Citizen’s Bank purporting to show that he had such authorization were forgeries.  Smith used the funds from this line of credit (which eventually totaled $5 million) to infuse monies into the Conservancy’s bank accounts to help cover up his substantial embezzlement from those accounts.

    Sentencing documents indicate that Smith spent the money he appropriated from the Conservancy to live a lavish and extravagant lifestyle. Over the course of his scheme, Smith spent enormous sums of money on basketball tickets, cruises, private jet travel, designer clothing, jewelry, and the like.

    The case was prosecuted by Assistant United States Attorneys John K. Neal and Robert A. Moran. Assistant United States Attorneys K. Craig Welkener and Jessica Nathan handled the asset forfeiture. The investigation was conducted by the FBI and the Internal Revenue Service-Criminal Investigations Division.

    MIL Security OSI –

  • MIL-OSI: Northeast Bank Announces Dates for Fiscal 2025 Third Quarter Earnings Results and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Maine, April 24, 2025 (GLOBE NEWSWIRE) — Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based bank, announced today it will release its fiscal 2025 third quarter earnings results on Tuesday, April 29, 2025. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Wednesday, April 30, 2025. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

    To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available via a live webcast, which can be viewed by accessing the Bank’s website at www.northeastbank.com and clicking on the Investor Relations section. To listen to the webcast, attendees are encouraged to visit the website at least 15 minutes prior to the start of the call to register, download and install any necessary audio software. Please note there is a slide presentation that will accompany the webcast. For those who cannot listen to the live broadcast, a replay will be available online for one year at www.northeastbank.com.

    About Northeast Bank

    Northeast Bank (NASDAQ: NBN) is a bank headquartered in Portland, Maine. We offer personal and business banking services to the Maine market via seven branches. Our National Lending Division purchases and originates commercial loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com.

    NBN-F

    For More Information:
    Richard Cohen, Chief Financial Officer
    Northeast Bank
    27 Pearl Street, Portland, ME 04101
    207.786.3245 ext. 3249
    www.northeastbank.com

    The MIL Network –

  • MIL-OSI: XRP News: XenDex Presale Gains Momentum Ahead Of Coinbase’s XRP Futures Launch

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, April 24, 2025 (GLOBE NEWSWIRE) — XenDex is at the center of XRP news today as the first all-in-one decentralized exchange (DEX) built on the XRP Ledger. As excitement brews across the crypto market surrounding XRP’s renewed relevance, XenDex’s $XDX presale is gaining explosive momentum, drawing thousands of XRP holders and DeFi enthusiasts into what’s shaping up to be one of the most anticipated presales of the year. This opportunity presents itself when the XRP ecosystem is buzzing with the news of Coinbase’s XRP Futures launch.

    With features like non-custodial lending and borrowing, AI-powered copy trading, staking, and cross-chain interoperability, XenDex is delivering the full-scale DeFi experience that Ripple’s ecosystem has lacked for over a decade.

    Participate in XDX Presale Now

    The Xendex token Presale Is currently Live, And It’s Moving Fast.

    The $XDX token presale is now officially live at: https://xendex.net/presale

    The entry terms are simple and the timing is everything:

    • Exchange Rate: 1 XRP = 10 XDX
    • Minimum Buy: 150 XRP = 1,500 XDX
    • Soft Cap: 30,000 XRP

    Early participants are locking in tokens before supply tightens and pricing adjusts. As the community rapidly expands, so does the scarcity and with that, the potential upside.

    Why XRP Holders Are Rushing Into XenDex:

    The XRP community has long waited for a platform that truly unlocks decentralized finance on XRPL. XenDex delivers, with real functionality, not just promises.

    • Real-time AI copy trading from top-performing traders
    • Borrowing & lending with no middlemen
    • Staking & liquidity farming for passive rewards
    • Clean UI built for fast onboarding from users
    • Community governance through $XDX voting rights

    Buy XDX Now at It’s Lowest Price

    With Coinbase’s XRP Futures announcement stirring the market, XRP holders are now rallying behind the most advanced DeFi solution in the ecosystem, and it’s called XenDex.

    XenDex’s official Telegram group is surging while it’s Twitter engagement is climbing, and thousands are already on board, but there’s still time to join.

    The presale is live and the platform’s community is growing rapidly. An opportunity buy into a highly promising Ripple project is now.

    Website: https://xendex.net
    Buy $XDX: https://xendex.net/presale/
    Telegram: https://t.me/XenDexCommunity
    Twitter: https://x.com/XenDex_XRP
    Docs: https://xdxdoc.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81172a2a-d3e3-48e1-b09b-f56247570fc7

    The MIL Network –

  • MIL-OSI Video: FBI Special Agent Karen R. Discusses Financially Motivated Sextortion

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Karen R., a special agent in the FBI’s Child Exploitation Operational Unit, discusses a financially motivated sextortion operation in Nigeria. The joint international operation targeted suspects whose crimes occurred in at least three countries and led to multiple deaths by suicides, including more than 20 in the U.S. since 2021.

    For a full transcript and download, visit:
    —————————————————
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    https://www.youtube.com/watch?v=OxhqgnbNFOM

    MIL OSI Video –

  • MIL-OSI Video: FBI Intelligence Analyst Tora Bly Discusses Sextortion

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Tora Bly, an intelligence analyst in the FBI’s Crimes Against Children and Human Trafficking Unit, discusses a financially motivated sextortion operation in Nigeria. The joint international operation targeted suspects whose crimes occurred in at least three countries and led to multiple deaths by suicides, including more than 20 in the U.S. since 2021.

    More at: https://www.fbi.gov/news/stories/fbi-operation-in-nigeria-targeted-perpetrators-of-online-extortion-schemes-that-prey-on-teens
    —————————————————
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    https://www.youtube.com/watch?v=HzkuHBQZ_9c

    MIL OSI Video –

  • MIL-OSI Video: Royal Canadian Mounted Police Investigator Derek Bonner Discusses Sextortion

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Derek Bonner, team commander for the RCMP investigation of sextortion in Surrey, British Columbia, discusses a financially motivated sextortion operation in Nigeria. The joint international operation targeted suspects whose crimes occurred in at least three countries and led to multiple deaths by suicides, including more than 20 in the U.S. since 2021.

    More at: https://www.fbi.gov/news/stories/fbi-operation-in-nigeria-targeted-perpetrators-of-online-extortion-schemes-that-prey-on-teens
    —————————————————
    Subscribe to Inside the FBI wherever you get your podcasts:
    Spotify: https://open.spotify.com/show/4H2d3cg…
    Apple Podcasts: https://podcasts.apple.com/us/podcast…
    Google Podcasts: https://podcasts.google.com/feed/aHR0…
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    Follow us on social media:
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    Instagram: https://instagram.com/fbi
    YouTube: youtube.com/fbi

    https://www.youtube.com/watch?v=OTooP9vQNXI

    MIL OSI Video –

  • MIL-OSI Video: Worth the Wait – FBI 2026 Honors Internship Program

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Take your internship plans out of the group chat. Apply by May 2 to join the FBI’s 2026 Honors Internship Program. Undergraduate and graduate students from all disciplines will get hands-on experience and explore potential career paths within the Bureau.

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

    MIL OSI Video –

  • MIL-OSI USA: New York Man Charged with Immigration Fraud for Concealing Role as Perpetrator of Rwandan Genocide

    Source: US State of North Dakota

    A federal grand jury in Central Islip, New York, returned an indictment April 22 and unsealed today charging a New York man with lying on his applications for a green card and United States citizenship by concealing his past role as a leader and perpetrator of the genocide in Rwanda in 1994.

    According to court documents, Faustin Nsabumukunzi, 65, of Bridgehampton, New York, was a local leader with the title of “Sector Counselor” in Rwanda in 1994 when the genocide began. Between April and July of that year, members of the majority Hutu population persecuted the minority Tutsis, committing acts of violence including murder and rape. An estimated 800,000 ethnic Tutsis and moderate Hutus were killed during the three-month genocide. Nsabumukunzi was arrested this morning on Long Island and is scheduled to be arraigned at 1:30 p.m. ET before U.S. District Judge Joanna Seybert for the Eastern District of New York.

    “As alleged, the defendant participated in the commission of heinous acts of violence abroad and then lied his way into a green card and tried to obtain U.S. citizenship,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “No matter how much time has passed, the Department of Justice will find and prosecute individuals who committed atrocities in their home countries and covered them up to gain entry and seek citizenship in the United States.”

    “As alleged, Nsabumukunzi repeatedly lied to conceal his involvement in the horrific Rwandan genocide while seeking to become a lawful permanent resident and citizen of the United States,” said U.S. Attorney John J. Durham for the Eastern District of New York. “For over two decades, he got away with those lies and lived in the United States with an undeserved clean slate, a luxury that his victims will never have, but thanks to the tenacious efforts of our investigators and prosecutors, the defendant finally will be held accountable for his brutal actions.”

    “This defendant has been living in the United States for decades, hiding his alleged horrific conduct, human rights violations, and his role in these senseless atrocities against innocent Tutsis,” said Acting Special Agent in Charge Darren B. McCormack of U.S. Immigration and Customs Enforcement (ICE) Homeland Security Investigations (HSI) New York. “The depraved conduct of which the defendant is accused represent the worst of humanity. As demonstrated through the tireless work of HSI New York agents, analysts, and task force officers, we will never tolerate the safe-harboring of individuals linked to such unimaginable crimes.”

    As alleged in the indictment, Nsabumukunzi used his leadership position to oversee the violence and killings of Tutsis in his local area and directed groups of armed Hutus to kill Tutsis. He is alleged to have set up roadblocks during the genocide to detain and kill Tutsis and to have participated in killings. According to court filings, Nsabumukunzi was subsequently convicted in absentia by a Rwandan court for genocide.

    As further alleged, Nsabumukunzi applied for refugee resettlement in the United States in 2003, applied for and received a green card in 2007, and later submitted applications for naturalization in 2009 and 2015. Nsabumukunzi is alleged to have lied to U.S. immigration officials in his immigration applications, including by falsely denying any involvement as a perpetrator of the Rwandan genocide. As a result of his ongoing efforts to conceal his actions during the genocide, Nsabumukunzi has been able to live and work in the United States since 2003.

    Nsabumukunzi is charged with one count of visa fraud in violation of 18 U.S.C. § 1546(a) and two counts of attempted naturalization fraud in violation of 18 U.S.C. § 1425 (a) and (b). If convicted, he faces a statutory maximum penalty of 30 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    HSI Long Island is investigating the case, with assistance from the Interagency Human Rights Violators and War Crimes Center.

    Trial Attorney Brian Morgan of the Justice Department’s Human Rights and Special Prosecutions Section (HRSP) and Assistant U.S. Attorneys Samantha Alessi and Katherine P. Onyshko for the Eastern District of New York are prosecuting the case, with assistance from HRSP Analyst/Historian Dr. Christopher Hayden and the Justice Department’s Office of International Affairs.

    Members of the public who have information about former human rights violators in the United States are urged to contact U.S. law enforcement through the HSI tip line at 1-866-DHS-2-ICE (1-866-347-2423) or internationally at 001-1802-872-6199. They can also email HRV.ICE@ice.dhs.gov or complete its online tip form at www.ice.gov/exec/forms/hsi-tips/tips.asp.

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

    MIL OSI USA News –

  • MIL-OSI: Coface SA: Disclosure of trading in own shares (excluding the liquidity agreement) made on April 14 to April 17, 2025

    Source: GlobeNewswire (MIL-OSI)

    COFACE SA: Disclosure of trading in own shares (excluding the liquidity agreement) made
    on April 14 to April 17, 2025

    Paris, April 24, 2025 – 17.45

    Pursuant to Regulation (EU) No 596/2014 of 16 April 2014 on market abuse1

    The main features of the 2024-2025 Share Buyback Program have been published on the Company’s website (http://www.coface.com/Investors/Disclosure-requirements, under “Own share transactions”) and are also described in the 2024 Universal Registration Document.

    Trading session
    of (Date)    		 Number
    of shares    		 Weighted
    average price    		 Gross amount MIC Code Purpose
    of buyback
    14/04/2025 10,000 16.4054 € 164,054 € XPAR LTIP
    15/04/2025 10,000 16.7280 € 167,280 € XPAR LTIP
    16/04/2025 10,000 16.9585 € 169,585 € XPAR LTIP
    17/04/2025 10,000 16.9946 € 169,946 € XPAR LTIP
    Total 14/04/2025 – 17/04/2025 40,000 16.7716 € 670,865 €   LTIP

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Q1-2025 results: 5 May 2025 (after market close)
    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2024 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

    Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    1 Also in pursuant to Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (and updates); Article L.225-209 and seq. of the French Commercial Code; Article L.221-3, Article L.241-1 and seq. of the General Regulation of the French Market Authority (AMF); AMF Recommendation DOC-2017-04 Guide for issuers on their own shares transactions and for stabilization measures.

    Attachment

    The MIL Network –

  • MIL-OSI: Westamerica Bancorporation Increases Quarterly Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    SAN RAFAEL, Calif., April 24, 2025 (GLOBE NEWSWIRE) — The Board of Directors of Westamerica Bancorporation (NASDAQ: WABC) today declared a quarterly cash dividend of $0.46 per share, which represents a two cent per share increase from the prior quarter, on common stock outstanding to shareholders of record at the close of business May 5, 2025. The dividend is payable May 16, 2025.

    Chairman, President and CEO David Payne stated, “This increase in the quarterly dividend recognizes Westamerica’s reliable earnings stream, financial strength and conservative risk profile.”

    On April 17, 2025, Westamerica reported $31.0 million in net income for the three months ended March 31, 2025, or $1.16 diluted earnings per common share.

    Westamerica Bancorporation, through its wholly owned subsidiary, Westamerica Bank, operates banking and trust offices throughout Northern and Central California.

    Westamerica Bancorporation Web Address: www.westamerica.com

    For additional information contact:
    Westamerica Bancorporation
    1108 Fifth Avenue, San Rafael, CA 94901
    Robert A. Thorson – Investor Relations Contact
    707-863-6090
    investments@westamerica.com
     

    FORWARD-LOOKING INFORMATION:

    The following appears in accordance with the Private Securities Litigation Reform Act of 1995:

    This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”

    Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. The Company’s most recent reports filed with the Securities and Exchange Commission, including the annual report for the year ended December 31, 2024 filed on Form 10-K and quarterly report for the quarter ended September 30, 2024 filed on Form 10-Q, describe some of these factors, including certain credit, interest rate, operational, liquidity and market risks associated with the Company’s business and operations. Other factors described in these reports include changes in business and economic conditions, competition, fiscal and monetary policies, disintermediation, cyber security risks, legislation including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Sarbanes-Oxley Act of 2002 and the Gramm-Leach-Bliley Act of 1999, and mergers and acquisitions.

    Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

    The MIL Network –

  • MIL-OSI: Firefish Goes Global, Tapping Into Stablecoins to Offer Instant Non-Custodial Loans

    Source: GlobeNewswire (MIL-OSI)

    With over 10,000 users and 1,000 BTC collateralized, the company is empowering Bitcoin holders to unlock liquidity without having to sell their stack

    PRAGUE, April 24, 2025 (GLOBE NEWSWIRE) — Firefish, the leading open marketplace for Bitcoin-collateralized loans, now offers instant USDC loans to users in the U.S. and worldwide, delivering funds in as little as 15 minutes.

    After facilitating over $100M in value, Firefish now also supports USDC instant loans in over 50 countries, providing borrowers with liquidity in less than one hour. Loans in Euros and Swiss Francs are now also available for interested users in Europe and Switzerland.

    “This isn’t just a way for us to expand beyond Europe—it’s how we bypass the limitations of the fiat system,” said Martin Matejka, Firefish CEO and Co-Founder. “Stablecoins let our users receive instant payments regardless of location. With Firefish, you no longer have to wait days for a wire transfer to arrive.”

    The company recently crossed the 10,000-user mark and successfully collateralized over 1,000 BTC, recording triple-digit month-over-month growth in March 2025. Bitcoiners looking for loans and yield-seeking lenders are attracted to Firefish’s market-driven rates, compelling risk-reward profile, and a borrower-led model that lets lenders pick the best deal.

    Unlike centralized crypto lenders, Firefish does not hold user assets and never rehypothecates them. Bitcoin collateral is locked in on-chain escrow using multi-signature contracts, and fiat loans are settled directly between borrowers and lenders via standard bank transfers or stablecoins. Firefish’s advanced recovery feature allows for the Bitcoin collateral to still be recoverable in case of disastrous scenarios by using a pre-signed recovery transaction.

    With Firefish, institutional investors and high-net-worth individuals can deploy capital in bulk using fiat or stablecoins and be matched with qualified borrowers. These investments will soon be able to take place through traditional fund structures, which could enable even broader participation.

    “Lending is the natural next phase for Bitcoin adoption,” said Igor Neumann, Co-Founder and COO at Firefish. “Stablecoins enable millions of holders worldwide to use Bitcoin as a superior collateral asset and leverage its high liquidity, transparency, and borderless nature.”

    Firefish recently closed its seed round, with backing by prominent players such as Braiins and Miton C. Firefish’s roots are in the Czech Republic, a country with a great Bitcoin tradition that recently implemented favorable policies, including capital gains exemptions and discussions about adding Bitcoin to the central bank’s reserves. Companies such as SatoshiLabs, Braiins, General Bytes, Confirmo and Coinmate all trace back their origins to the Czech capital.

    About Firefish

    Firefish is the open marketplace for bitcoin-collateralized loans. Drawing on decades of experience in banking and capital markets, Martin Matejka and Igor Neumann founded Firefish to offer Bitcoin holders a simple and secure way to borrow cash against their Bitcoin without relying on a custodian. Using on-chain escrow and peer-to-peer matching, Firefish allows users to use their Bitcoin without having to sell and trigger capital gains taxes. Learn more at firefish.io

    Media Contact:
    Jesse Firefish
    press@firefish.io

    Disclaimer: This is a paid post and is provided by Firefish. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/961e11cc-e1af-4ada-9a62-cad36c509d83

    The MIL Network –

  • MIL-OSI Economics: Spring Meetings 2025 Press Briefing Transcript: Intergovernmental Group of Twenty-Four (G24)

    Source: International Monetary Fund

    April 24, 2025

    SPEAKERS:

    Chair: Pablo Quirno, Secretary of Finance, Ministry of Economy of Argentina

    First Vice‑Chair:  Olawale Edun, Federal Minister of Finance of Nigeria

    Second Vice‑Chair: Jameel Ahmad, Governor, State Bank of Pakistan

    Director: Iyabo Masha, G‑24 Secretariat

    MODERATOR:

    Pavis Devahasadin, Communications Officer, IMF

    Mr. Devahasadin: Good morning, ladies and gentlemen. My name is Pavis Devahasadin, Communication Officer from the IMF’s Communication Department. I would like to welcome everyone here in this room and our online audience to the press conference on the Intergovernmental Group of 24 on International Monetary Affairs and Development or G‑24.

    Before we begin, I would like to remind you that we have simultaneous translation in English, French and Spanish. It is my honor to introduce the distinguished panel at this table, the Chair of the Ministry of the G‑24 at the center is Mr. Pablo Quirno, Secretary of Finance of Argentina. To his right is Mr. Vice Chair, Mr. Olawale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy. To the left of Mr. Chair is Second‑Vice Chair Mr. Jameel Ahmad, Governor of the State Bank of Pakistan. Of course, at the other end of the table is Director of G‑24 Secretariat Ms. Iyabo Masha. Without further ado, may I invite Mr. Quirno to give some remarks. Mr. Chair, the floor is yours.

    Mr. Quirno (Argentina): Thank you, Pavis. Dear members of the press, I would like to extend a warm welcome to each and every one of you as we gather for this press conference. You have at your disposal our comprehensive communiqué and press release encapsulating the discussions held today. Allow me to briefly highlight the key takeaways.

    We are witnessing a major transition in how the global economy works and processes of change such as these always involve intervals of great volatility and uncertainty. Our communiqué reflects that the recent economic developments have driven uncertainty to elevated levels. In this context, emerging market and developing economies face additional challenges stemming from both external conditions and domestic factors.

    On the external front, many EMDEs continue to face elevated public debt levels and rising debt servicing burdens. The prevailing environment of still tight global financial conditions is exacerbating these challenges, constraining fiscal space, and forcing difficult tradeoffs between repaying creditors and investing in critical areas for productivity, growth and development. These also represent a risk to macroeconomic stability, as debt maturities and rising debt service payments hinder fiscal consolidation plans, which are necessary to tackle domestic imbalances, maintain price stability, and foster a stable macroeconomic environment for investment and growth.

    On the domestic front, weak fiscal fundamentals are at the core of macroeconomic instability, while many of us face longstanding structural policy challenges that hold back productivity and competitiveness.

    The building up of external and fiscal imbalances amid public spending pressures that exceed revenues and with constrained access to international financial markets further erodes macroeconomic stability.

    Furthermore, domestic environments perceived as unsafe for investment dominated by overly complex legislation and inefficient and burdensome tax systems add to macroeconomic instability to further discourage much‑needed private capital inflows.

    As stated in the communiqué, domestic policymaking is the first line of defense. The best way to enhance short‑term domestic responsiveness, as well as medium‑term growth capacity is through solid macroeconomic frameworks combined with clear rules that foster a predictable environment for private investment.

    Pivoting to our fiscal consolidation to set debt on a sustainable path and rebuild buffers while advancing with productivity‑enhancing‑market reoriented structural reforms must remain priorities for the domestic policymaking. Whereas doing so while maintaining social cohesion and protecting the most vulnerable can be challenging, it can be achieved with careful policy calibration.

    But as these measures may take some time to deliver, mobilizing sufficient international support is also crucial to help countries meet their financing needs while they navigate the waters towards a healthier economy. The Bretton Woods Institutions remain crucial, necessitating decisive actions to fortify the Global Financial Safety Net and broaden development finance. The IMF’s role as a centerpiece of the Global Financial Safety Net is vital in addressing multilateral challenges and supporting vulnerable countries. We appreciate the IMF’s recent reforms to better support EMDEs, such as the recent review of the charges and surcharges policies.

    However, countries with limited access to affordable short‑term and crisis‑related liquidity continue to face vulnerabilities. It is essential to address liquidity pressures and strengthen crisis prevention and response capabilities, including enhancing existing financial safety nets. Surveillance and internal and external stability should be intensified, including on spillover effects from systematically important countries. The World Bank has made progress in implementing the Evolution Program, but further progress is required in operationalizing key aspects of the framework of financial incentives and reducing IBRD loan pricing. Faster implementation of the remaining G‑20 Independent Experts Groups Recommendations on MDB reforms is needed, including mitigating currency risks through local currency lending and domestic capital market reforms, de‑risking private‑sector investment, and increasing capital within the WBG and across the MDB system.

    Swift progress on the 2025 shareholding review is necessary to address misalignments, strengthen voice and representation, enhance IBRD legitimacy, and ensure equitable voting power.

    In sum, the path to sharp growth and a steady growing economy is multifaceted. We must do our part and commit to strengthen fiscal and monetary frameworks, build robust institutions, and embrace structural reforms that promote competitiveness, productivity gains, and job creation, but at the same time we need global financial institutions that recognize domestic efforts and are willing and well‑prepared to step up for these countries. Thank you, and with these remarks, I am now ready to entertain your questions.

    Mr. Devahasadin: Thank you, Mr. Chair. Before we begin the Q&A section, I kindly ask that all questions remain within the scope of the G‑24’s mandate and responsibilities. Other questions outside of its purview, of course, should be raised during the regional press conferences that are going to be taking place in the coming days. And please kindly identify yourself, your organization, your news outlet, and specify to whom your questions would like to be addressing. With that, any questions? Yes, sir.

    QUESTION: Good morning to everybody. Mr. Quirno, you just said that the Bretton Woods Institutions are crucial. Does any of you feel that their role, their functioning is endangered currently? Thank you for answering this question.

    Mr. Devahasadin: Thank you.

    Mr. Quirno: I think globally we are facing a period of volatility and uncertainty. As such, the Bretton Woods Institutions are crucial in providing the safety net and the channels of communication that remain open among the different countries that participate in those institutions. And I think the role is very, very important. And we do not see them—I mean, we are always rebalancing their role and their task, and it is something that is a process that we do constantly. At the end of the day, the role is vital. It is very important, and we do not see them at risk as you put it.

    Mr. Devahasadin: Minister Edun.

    Mr. Edun (Nigeria): Thank you. I agree with the Chair that there is nothing that we have heard that says that the Bretton Woods Institutions stands ready to do anything other than on the one hand, provide safety net. On the other hand, continue to provide development finance. If anything, this time of heightened global uncertainty, what we have heard from them is that they stand ready and are very much willing and capable to help countries to navigate this particular time and to continue to encourage good policymaking, to encourage resilience, building of resilience, building of buffers and effectively staying the course for those who are actually on a path that will take them further along the road to growth development and reduction of poverty.

    Mr. Devahasadin: Thank you. Governor Ahmad or Ms. Masha, would you like to add anything?

    Mr. Ahmad: No, it is OK. I think we fully agree with the views expressed by the Chair and the Vice. I think the increased uncertainty and the prevailing situation, it has become much more important for the Bretton Woods Institutions to continue to play their role and particularly as the financial safety net providers and also as the development partners. I think they have a role which will continue to be there, and they will be contributing in the performance of the road previously—that they have been doing previously, so I fully agree.

    Mr. Devahasadin: Thank you. Ms. Masha?

    Ms. Masha (G-24 Secretariat): Yes. We believe that the organizations are very useful, and the usefulness is very much appreciated, and so we do not have any uncertainty about their continued relevance. And we do hope that whatever actions countries are taking, the advanced economies are taking, they will factor into their decision the very good usefulness of these organizations. Thank you.

    Mr. Devahasadin: Thank you. Going back to the floor. Any question? Right here, lady with the glasses.

    QUESTION: My question is for Mr. Jameel Ahmad. What steps is the State Bank of Pakistan taking? Is it engaging with other central banks to mitigate risks, particularly in the G‑24 framework? Thank you.

    Mr. Ahmad: I think as initially said that if there is any specific questions pertaining to the State Bank, we can discuss that during the separate conferences, which we have, but for the time being, since we are in the G-24 platform, we are coordinating with other central banks, and we discussed all these issues during the yesterday’s Deputies Meeting as well as today’s meeting also of the G-24. These are the issues faced by the G-24 members and have been thoroughly discussed and the stance has been agreed upon. This is what is contained in the communiqué which is being issued today.

    Mr. Devahasadin: Going back to the floor, maybe in the midsection I saw some hands. I will start with you in the black. Thank you. We are going to make our way back. Yes.

    QUESTION: So, I have a couple questions for everyone here. First of all, how concerned are your members from the fallout from tariffs and what are they trying to do to try to mitigate the impacts? Also, are you planning to work more closely with each other, for instance, increasing trade with each other? And lastly, specifically, are you planning on working more closely with China, for instance?

    Mr. Devahasadin: Just to add to that, I got an advanced question Sri Lanka. In the light of reciprocal tariff currently in place, what strategy is the G‑24 considering as a working group to alleviate the pressure on emerging economies? So that is related to your question as well. Mr. Chair.

    Mr. Quirno: Thank you. Thank you for the questions. I think that it is important to understand that the G‑24 is a very diverse group of countries, and everyone, each of us has its own peculiarities, strengths, and weaknesses in the midst of the current trade situation. So, what I would say is that the fallout of this uncertainty that we are facing creates more volatility. And as emerging market countries and developing countries, what you face is a situation in which, in addition to the trade tensions, you have a situation on the capital markets and the capital flows, things that are based on the uncertainty. What happens is flows are expecting a solution. As one of the members said today, we can deal with good news. We can deal with bad news. We need to know what to do under uncertainty. You know, as we are going through this process of trade negotiations globally and as definitions are set, then we will know how to react. In the meantime, as we said in the communiqué and as we said in my opening remarks, the first line of defense, the thing that is within our country’s contro, is around the domestic agenda. We need to bring resilience into our own economies in such a way that we have a fiscal path that is credible, that we have sound monetary policies as well that back that fiscal consolidation program, because at the end of the day that is what investors are looking at.

    Investors are looking at the different countries’ situation and see how they can cope with this level of uncertainties. We have faced different levels, different crises in the past — globally, the pandemic being the last one. And we have, as a collective number of countries, been able to achieve a level of resilience that is very good. I mean, that resilience is being tested once again. That is why we also need to work in conjunction among the different countries, not only G‑24 but in a global context to address the situation. But I think the homework also needs to be consolidated at home in order to then continue moving forward. And as such, we are also obviously fostering our trade relationships among the different countries. We are doing it among the G‑24, among G‑20, so there are various areas of cooperation and consolidation there as well.

    Mr. Devahasadin: Any perspective from Ms. Masha in terms of coordination, collaboration across nations?

    Ms. Masha: Well, I think the Chair has pointed out some of those issues regarding macroeconomic stability, that is when these shocks manifest, there’s need for fiscal policies, sound monetary policies. But more along that line, it also provides opportunities for countries to pivot towards a different development pathway. Maybe going into sectors that are going to satisfy domestic demand will make them less prone to external shocks and diversifying their markets, the different markets, so they can better cope with the future tariff or trade policies. Thank you.

    Mr. Devahasadin: Thank you. Going back to the floor, I see hands right there all the way in the back, the lady in beige. We will come back to the front.

    QUESTION: Thank you for taking our questions. A question for everyone, sort of piggybacking off of my colleague’s question on tariffs. How does the G‑24 weigh the inflationary risks versus risks of recession from the current tariff environment? And then one for the Argentina Secretary, you spoke about debt maturities and rising debt payments, more than 4 billion in debt many coming due for Argentina in July right after an ambitious reserve target accumulation from the IMF. How does Argentina plan to confront those payments and is there a target that it is looking back to return to capital markets? Thank you.

    Mr. Quirno: In terms of the first question related to inflationary pressures and related to the trade situation, we had this morning the World Economic Outlook conference in which we had details on that perspective, but I think also it is very early to tell on how this is going to at the end of the day be moving forward. We are not in the business—at least I am not in the business of projecting inflation in my own country. It is very difficult to try to project inflationary pressures on a global basis, but I think it is—as I said before, we are living in uncertain times. We expect that trade negotiations that are currently underway reach a good point that is satisfactory to everyone involved, and that will normalize trade flows from that perspective onwards. In terms of Argentina—I mean, despite the fact that it is a common theme throughout the G‑24—what we are trying to do in Argentina for the last 15 months is basically gain our credibility back. And as such, we have elected a very conservative and unorthodox approach to the problems that Argentina had. And one of the problems that Argentina had was on the fiscal front. And we have done a tremendous fiscal consolidation. We put our house in order, on the monetary front as well. And that track record is one that will put us in a path to regaining market access eventually.

    Having said that, from my perspective, as the CFO of the country, what I can say is that we work at it very conservatively. I am not assuming that Argentina will be able to re‑access markets at a given time. But we have certainty that the maturities are coming due. That is why we have worked in the past in showing our willingness to pay. We have honored all our commitments. We have now a new IMF program, which has started to work very well, as expected. And in addition to that, because of that conservative, look, we have already accumulated reserves. The Treasury has bought a significant amount of dollars that it has at the central bank to honor those obligations. So, we do not expect to—we cannot speculate about when Argentina will be able to re‑access international markets. When those will happen, when that situation happens, we will address it. But in the meantime, we still work as if we have no access, and we have to pay down our obligations as we did in this last 15 months.

    Mr. Devahasadin: Thank you, I see three remaining hands. I will come back to the front with the lady in the brown jacket first and then I go to that side of the room. I see two hands. Please keep your questions short. We have limited time. Thank you.

    QUESTION: Hi. My question is regarding—we have seen the U.S. called back on some of the financings that it gives to developing economies, so in terms of financing the sustainable development goals, as well as climate action, could you talk about some of the challenges there?

    Mr. Devahasadin: Are your questions related to climate so we can collect them both? Anyone on climate here.

    Mr. Quirno: We face several challenges and as such, for that, many countries rely on the World Bank and the IMF, to basically be able to develop tools to finance that development, finance climate action, to finance infrastructure, and as such, we are at a period in which you have to—countries have to balance that in turn with their own macroeconomic situation in that respect. We need to—we have many of our countries in the G‑24 have significant natural resources that need to be developed. Those are the ones that are part of the transition energy, for example. And those are situations in which you cannot access private financing. The role of development financing in terms of climate, in terms of energy transition, et cetera, is very important. But those are challenges that are on the table that we need to address, and we are addressing together as a group and as an individual country as well.

    Mr. Devahasadin: Thank you. Go back to the floor. Gentleman back here and we can go all the way back to you, sir.

    QUESTION: Thank you. Two questions. You brought back fiscal discipline to Argentina, but can you quantify the harmful effects on the lives of the citizens? That is what want to talk about, the strikes, the protests, the fact that people do not have money in their pockets. Secondly, you also talked about building resilience, how do we build resilience where most of the countries in the G‑24 have one similar problem, a lot of visionless leadership, definitely, and a lot of poverty. Our arms are already tied behind our hands economically. How do you expect us to build resilience?  We are just led to the slaughter slap.

    Mr. Devahasadin: Thank you. Can I go all the way back to the back, the gentleman in the back, please?

    QUESTION: Thank you for taking my question. I wanted to touch on debt restructuring. In October you called on the reform of the Common Framework, and I am curious to know more about what sort of reform moves you have seen since then and also what types of reforms the G‑24 would like to see to the Common Framework. Thank you.

    Mr. Quirno: To the first question, I hate to make reference to Argentina, but the question was directly addressed to that situation. Argentina was facing a very dire situation—55 percent poverty rate before this administration took office. We have worked very, very strongly to do a couple of things that basically went straight to address that situation by having done our fiscal consolidation. We basically reduced 5 percentage points of GDP deficit in a month, something that has not been done probably anywhere else in the world so far. But we did it because we knew that we had no alternative. And at the end of the day, what happened is that the myth is that by doing such an adjustment, you would enter into a deep recession. Argentina rebounded out of its recession that was two and a half years long two months after that fiscal consolidation.

    Since then, real wages have increased for 10 months straight. Poverty levels have been reduced from 54 percent to 38 percent in about a year. And economic activity has increased 6 percent December 2024 from December 2023 when we took over. It can be done. That is the message. You know, there is preoccupations before, during such a big adjustment as we did, but it pays out. It takes the political will to do it. Everyone knows what needs to be done on the fiscal and monetary fronts. The books have been written about it. What happens is you need the political willingness to attack the problem because that may hurt politicians when they make those decisions. We have a very strong leadership in President Milei — the one that has said we need to go in this. What he has said is we need to take care of the most vulnerable. We doubled in real terms, while being able to achieve our financial surplus. We were able to double in real terms the assistance to the most vulnerable. And that is something that basically shows the amount of corruption and intermediation that was on the social plans that the national government was spending on. So now those funds have been redirected. It is funny that we doubled the expenditures in real terms, but the amount that people received more than tripled. We spent 100, and we are now spending 200 in real terms. People got 60. They received 60, and then they are receiving 200. That is a big—very big realization from the most vulnerable population that they have been robbed for years. Because by maintaining fiscal consolidation, by maintaining a financial surplus, we were still able to double the assistance to the most vulnerable.

    Mr. Devahasadin: We go to Ms. Masha on debt restructuring because you spoke about it last time.

    Ms. Masha: Debt restructuring?

    Mr. Devahasadin: The Common Framework. Yes, the progress on that.

    Ms. Masha: I want to add a little to what the Chair said in response to the question before I go to the Common Framework.

    Mr. Devahasadin: Yes.

    Ms. Masha: That is just to say that the G‑24 member countries, we have some of the largest economies in the world as members of G‑24, and the good thing is that the growth, the size of their economy, most of them over the past two or three decades, China, India and Brazil. So that takes a lot of vision. That takes a lot of implementations of the right policies. So, it is not quite a visionless leadership, but they have had to take policies that enable the countries to achieve what they have been able to achieve over such a short period of time.

    On the Common Framework — where we are on the Common Framework is that some countries have used it. Some have found it beneficial. The only complaint—well, some of the complaints we have heard about is that the process takes a very long time. And during that long time, they are not able to access the market, or they have to take some difficult decisions when they do not know how it is going to play out. And we also made that position known. The second, the other issue is we need more participation of the private market, maybe of also multilateral development banks, and also to have some precise idea of how it will play out. Some middle‑income countries have been asked to be a part of it. That is not really in discussion now, but all in all, countries have benefited from it, but there could be more benefit. Thank you.

    Mr. Devahasadin: Mr. Chair, you would like to add anything?

    Mr. Quirno (Argentina): No.

    Mr. Devahasadin: We are out of time. Unfortunately, Minister Edun had another obligation. If you have any follow‑up question, send it to press@G24.org. That was in the advisory, how to contact the G‑24. The communiqué should have been posted on IMF.org and the transcript of this press conference will be made available later. Thank you very much for joining this press conference and have a good rest of your day. Thank you.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

  • MIL-OSI Video: Australian Federal Police Investigator Kevin Mulroney Discusses Sextortion

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Kevin Mulroney, detective leading senior constable, Australian Federal Police, discusses a financially motivated sextortion operation in Nigeria. The joint international operation targeted suspects whose crimes occurred in at least three countries and led to multiple deaths by suicides, including more than 20 in the U.S. since 2021.

    More at: https://www.fbi.gov/news/stories/fbi-operation-in-nigeria-targeted-perpetrators-of-online-extortion-schemes-that-prey-on-teens
    —————————————————
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    https://www.youtube.com/watch?v=4UozxbUewZ8

    MIL OSI Video –

  • MIL-OSI Video: Special Agent Molly Blythe Discusses Sextortion

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Molly Blythe, a special agent in the FBI’s Jackson Division, discusses a financially motivated sextortion operation in Nigeria. The joint international operation targeted suspects whose crimes occurred in at least three countries and led to multiple deaths by suicides, including more than 20 in the U.S. since 2021.

    More at: https://www.fbi.gov/news/stories/fbi-operation-in-nigeria-targeted-perpetrators-of-online-extortion-schemes-that-prey-on-teens
    —————————————————
    Subscribe to Inside the FBI wherever you get your podcasts:
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    https://www.youtube.com/watch?v=6iP-gix-dOM

    MIL OSI Video –

  • MIL-OSI Video: Special Agent Matthew Crowley Discusses Sextortion

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Matthew Crowley, a special agent in the FBI’s Child Exploitation Operational Unit, discusses a financially motivated sextortion operation in Nigeria. The joint international operation targeted suspects whose crimes occurred in at least three countries and led to multiple deaths by suicides, including more than 20 in the U.S. since 2021.

    More at: https://www.fbi.gov/news/stories/fbi-operation-in-nigeria-targeted-perpetrators-of-online-extortion-schemes-that-prey-on-teens
    —————————————————
    Subscribe to Inside the FBI wherever you get your podcasts:
    Spotify: https://open.spotify.com/show/4H2d3cg…
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    https://www.youtube.com/watch?v=ygWdHTtEhVM

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