Category: Finance

MIL-OSI: Ambow Education Announces Second Half and Full-Year 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

CUPERTINO, Calif., March 28, 2025 (GLOBE NEWSWIRE) — Ambow Education Holding Ltd. (NYSE American: AMBO) (“Ambow” or the “Company”), an AI-driven educational technology company, today announced its financial and operating results for the 2024 second half¹ and full fiscal year,² ended December 31, 2024.

“In 2024, we achieved full-year profitability and reached key milestones that position us for sustained long-term growth, driven by our sharpened focus on HybriU adoption,” said Dr. Jin Huang, Ambow’s President, Chief Executive Officer, and acting Chief Financial Officer. “We increased revenue, improved margins and strengthened profitability throughout the year, highlighted by a $1.3 million HybriU licensing agreement in the fourth quarter—marking our continued expansion into international markets.”

HybriU is a cutting-edge, AI-powered phygital (physical + digital) innovation that transforms education, corporate conferencing and events by seamlessly integrating the physical and digital worlds for a smarter, more immersive experience. Designed to bridge the gap between in-person and remote interaction, HybriU delivers real-time AI automation, immersive engagement and intelligent collaboration across industries.

In the education sector, HybriU offers the only patented, plug-and-play solution that seamlessly integrates lecture capture, connectivity, AI, immersive technologies and big data analytics. This all-in-one platform simplifies deployment while delivering a rich, connected and data-informed phygital learning experience.

“Looking ahead to 2025, we will accelerate HybriU’s adoption across U.S. and international markets and further enhance our AI capabilities to deliver greater value to our partners. With a strong financial foundation, a lean operational structure, favorable AI tailwinds and a differentiated first-to-market solution, we are well-positioned to drive continued growth and increasing profitability,” Dr. Huang concluded.

Fourth Quarter 2024 Financial Highlights

Net revenues in the fourth quarter of 2024 were $3.5 million, compared with $2.4 million in the same period of 2023. The increase was primarily due to the launch of HybriU.
Gross profit in the fourth quarter of 2024 was $2.3 million, compared with $1.2 million in the same period of 2023. Gross profit margin was 65.7%, compared with 50.0% in the fourth quarter of 2023.
Operating expenses in the fourth quarter of 2024 decreased by 13.3% to $1.3 million from $1.5 million in the same period of 2023. The decrease was primarily due to reduction in shared center expenses.
Operating income in the fourth quarter of 2024 improved to $1.0 million, compared with an operating loss of $0.3 million in the same period of 2023.
Net income attributable to the Company’s ordinary shareholders was $1.3 million, or $0.02 per basic and diluted share for the fourth quarter of 2024 and 2023.

¹ Financial results for the second half of 2024 have not been audited or reviewed by the Company’s independent registered accounting firm.

² Financial results for the full fiscal year ended December 31, 2024 have been audited by the Company’s independent registered accounting firm.

Fiscal Year 2024 Financial Highlights

Net revenues in fiscal year 2024 increased by 2.2% to $9.4 million from $9.2 million in 2023. The increase was primarily driven by revenue growth from the launch of HybriU, while partially offset by the closure of Bay State College.
Gross profit in fiscal year 2024 was $5.0 million, increasing from $2.5 million in 2023. The increase was primarily attributable to an increase in net revenues from HybriU and a reduction in payroll expenses and teaching costs upon the closure of Bay State College.
Operating expenses in fiscal year 2024 decreased by 16.2% to $5.7 million from $6.8 million in 2023. The decrease was primarily driven by reduced payroll expenses following the closure of Bay State College.
Operating loss in fiscal year 2024 narrowed to $0.7 million, compared with a loss of $4.3 million in 2023.
Net income attributable to the Company’s ordinary shareholders in fiscal year 2024 was $0.3 million, or $0.005 per basic and diluted share, compared with a net loss of $3.2 million, or $0.06 per basic and diluted share in 2023.
As of December 31, 2024, Ambow maintained solid cash resources of $8.4 million, including cash and cash equivalents of $1.1 million and restricted cash of $7.3 million.

Contingencies

We are currently involved in two lawsuits concerning our leased property. Filed on July 15, 2024, by Art Block Investors, LLC et al., in the San Diego Superior Court (the “Court”), this unlawful detainer action seeks possession of premises occupied by NewSchool and recovery of $2,255,984.44 in past rent and common area maintenance (CAM) fees. Following trial, the Court issued a Proposed Statement of Decision awarding the plaintiffs possession and damages, with attorney’s fees and costs (estimated $80,000–$100,000) to be determined. NewSchool has objected, but judgment is expected within 30 days, followed by a motion for fees. In addition, filed on September 6, 2024, in the San Diego Superior Court, Art Block Investors, LLC et al. alleges breach of contract and guaranty against NewSchool and Ambow Education Holdings Ltd., seeking $4,466,247.80, potentially offset by amounts recovered in the first lawsuit. We, as defendants, have answered and are contesting the claims; no pretrial or trial dates have been set. The Company continues to evaluate these matters. A reasonable estimate of the amount of any possible loss or range of loss cannot be made as of December 31, 2024.

About Ambow

Ambow Education Holding Ltd. is a U.S.-based, AI-driven technology company offering phygital (physical + digital) solutions for education, corporate conferencing and live events. Through its flagship platform, HybriU, Ambow is shaping the future of learning, collaboration and communication—delivering immersive, intelligent and real-time experiences across industries. For more information, visit Ambow’s corporate website at https://www.ambow.com/.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Ambow and the industry. All information provided in this press release is as of the date hereof, and Ambow undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Ambow believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

For more information, please contact:
Ambow Education Holding Ltd.
E-mail: ir@ambow.com

Piacente Financial Communications
Tel: +1 212 481 2050
E-mail: ambow@tpg-ir.com


AMBOW EDUCATION HOLDING LTD. CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except for share and per share data)

	As of December 31,			As of December 31,
	2023			2024
	As Revised
ASSETS
Current assets:
Cash and cash equivalents	$	274		$	1,123
Restricted cash		9,781			7,318
Accounts receivable, net		2,280			2,541
Prepaid and other current assets		178			659
Total current assets		12,513			11,641
Non-current assets:
Property and equipment, net		6			1,200
Intangible assets, net		522			512
Operating lease right-of-use asset		4,896			2,722
Other non-current assets, net		2,629			1,296
Total non-current assets		8,053			5,730

Total assets	$	20,566		$	17,371

LIABILITIES
Current liabilities:
Short-term borrowings		3,939			2,700
Accounts payable		1,386			749
Accrued and other liabilities		1,468			1,029
Income taxes payable, current		510			12
Operating lease liability, current		2,486			2,357
Total current liabilities		9,789			6,847
Non-current liabilities:
Operating lease liability, non-current		4,349			3,787
Total non-current liabilities		4,349			3,787

Total liabilities	$	14,138		$	10,634

EQUITY
Preferred shares
(US$ 0.003 par value; 1,666,667 shares authorized, nil issued and outstanding as of December 31, 2023 and 2024)		–			–
Class A Ordinary shares
(US$ 0.003 par value; 66,666,667 and 66,666,667 shares authorized; 52,419,109 and 52,419,109 shares issued and outstanding as of December 31, 2023 and 2024, respectively)		146			146
Class C Ordinary shares
(US$ 0.003 par value; 8,333,333 and 8,333,333 shares authorized; 4,708,415 and 4,708,415 shares issued and outstanding as of December 31, 2023 and 2024, respectively)		13			13
Additional paid-in capital		517,031			517,031
Accumulated deficit		(510,634	)		(510,325	)
Accumulated other comprehensive income		(128	)		(128	)
Total equity		6,428			6,737
Total liabilities and equity	$	20,566		$	17,371


AMBOW EDUCATION HOLDING LTD. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (All amounts in thousands, except for share and per share data)

	For the three months ended September 30,						For the three months ended December 31,
	2023			2024			2023			2024
NET REVENUES
Educational program and services	$	671		$	1,168		$	2,395		$	1,527
HybriU licensing		–			–			–			1,924
Total net revenues		671			1,168			2,395			3,451
COST OF REVENUES
Educational program and services		(1,400	)		(1,004	)		(1,187	)		(1,193	)

GROSS (LOSS) PROFIT		(729	)		164			1,208			2,258
Operating expenses:
Selling and marketing		(330	)		(236	)		(296	)		(227	)
General and administrative		(903	)		(1,004	)		(912	)		(974	)
Research and development		(242	)		(144	)		(242	)		(144	)
Total operating expenses		(1,475	)		(1,384	)		(1,450	)		(1,345	)

OPERATING LOSS (INCOME)		(2,204	)		(1,220	)		(242	)		913

OTHER INCOME (EXPENSES)
Interest (expenses) income		(39	)		(114	)		15			(15	)
Foreign exchange gain (loss), net		21			–			(12	)		–
Other (expenses) income, net		(12	)		146			94			49
Gain on disposal of assets		–			–			1,400			–
Total other (expenses) income		(30	)		32			1,497			34
(LOSS) INCOME BEFORE INCOME TAX AND NON-CONTROLLING INTEREST		(2,234	)		(1,188	)		1,255			947
Income tax (expenses) benefit		(1	)		–			–			334
NET (LOSS) INCOME	$	(2,235	)	$	(1,188	)	$	1,255		$	1,281
Less: Net (loss) income attributable to non-controlling interests		–			–			–			–
NET (LOSS) INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS		(2,235	)		(1,188	)		1,255			1,281

OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX		–			–			–			–

TOTAL COMPREHENSIVE (LOSS) INCOME		(2,235	)		(1,188	)		1,255			1,281

Net (loss) income per share – basic and diluted	$	(0.04	)	$	(0.02	)	$	0.02		$	0.02
Net (loss) income per ADS – basic and diluted	$	(0.78	)	$	(0.42	)	$	0.44		$	0.45

Weighted average shares used in calculating basic and diluted net (loss) income per share		57,127,524			57,127,524			52,127,524			57,127,524


AMBOW EDUCATION HOLDING LTD. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (All amounts in thousands, except for share and per share data)

	For the years ended December 31,
	2023			2024
NET REVENUES
Educational program and services	$	9,163		$	7,468
HybriU licensing		–			1,924
Total net revenues	$	9,163			9,392
COST OF REVENUES
Educational program and services		(6,669	)		(4,405	)

GROSS PROFIT		2,494			4,987
Operating expenses:
Selling and marketing		(1,051	)		(1,013	)
General and administrative		(5,264	)		(4,258	)
Research and development		(484	)		(438	)
Total operating expenses		(6,799	)		(5,709	)

OPERATING LOSS		(4,305	)		(722	)

OTHER INCOME (EXPENSES)
Interest expenses		(57	)		(63	)
Other (expenses) income, net		(199	)		255
Gain on disposal of assets		1,400			–
Total other income		1,144			192

LOSS BEFORE INCOME TAX AND NON-CONTROLLING INTEREST		(3,161	)		(530	)
Income tax (expenses) benefit		(14	)		839
NET (LOSS) INCOME	$	(3,175	)	$	309
Less: Net (loss) income attributable to non-controlling interests		–			–
NET (LOSS) INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS		(3,175	)		309

OTHER COMPREHENSIVE LOSS, NET OF TAX		–			–

TOTAL COMPREHENSIVE LOSS		(3,175	)		309

Net (loss) income per share – basic and diluted	$	(0.06	)	$	0.0054
Net (loss) income per ADS – basic and diluted	$	(1.20	)	$	0.1080

Weighted average shares used in calculating basic and diluted net (loss) income per share		56,333,003			57,127,524

The MIL Network –

March 29, 2025

MIL-OSI Security: Ponce Man and Local Business Indicted for Bank Fraud

Source: Office of United States Attorneys

SAN JUAN, Puerto Rico – A Ponce man was arrested on March 25, 2025, on criminal charges related to various schemes involving bank fraud and money laundering. One company that he operated, Rossy Sport Bar Panorámico, LLC, was also indicted for its role in the bank fraud scheme.

According to court documents, in 2020 and 2022, Melvin E. Rivera-Oliveras, 40, executed a scheme and artifice to defraud multiple federally insured financial institutions in Puerto Rico. Rivera-Oliveras attempted to conduct fraudulent refund transactions for more than $7 million using multiple debit cards at various companies that he managed and operated.

After acquiring point of sale (POS) systems, Rivera-Oliveras conducted fraudulent refund transactions and was able to gain temporary access to the funds and to spend a portion of the funds that did not belong to him.

In July 2022, Rivera-Oliveras submitted fraudulent transactions in an attempt to obtain over $270,000 via fraudulent refund transactions using a debit card associated with Rossy Sport Bar Panorámico, which was another company he was managing. The proceeds of that scheme were deposited into an account held by Rossy Sport Bar Panorámico.

With the proceeds of these crimes, Rivera-Oliveras purchased multiple vehicles, including a Cadillac CTS, a Ford Transit Connect XL, and a Mercedes Benz C Class. In addition, Rivera-Oliveras made multiple bank transactions in excess of $10,000.

“The defendant created and executed a complex scheme to defraud banks and businesses,” said W. Stephen Muldrow, United States Attorney for the District of Puerto Rico. “I commend the FBI agents and law enforcement partners who uncovered this web of illegal financial transactions.”

“These crimes strike at the heart of public trust and financial stability. Bank fraud may not always leave a specific victim with empty pockets, but make no mistake, it erodes the very systems that uphold our economy,” said Devin J. Kowalski, Acting Special Agent in Charge of the FBI’s San Juan Field Office. “Thanks to the outstanding work of our agents and partners, this scheme was uncovered. To those who believe they can conceal their fraud behind layers of deception, know that the FBI will not rest until you are brought to justice.”

If convicted, Rivera-Oliveras faces the following penalties: up to 30 years in prison for bank and wire fraud; and up to ten years for money laundering. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

The Federal Bureau of Investigation is in charge of the investigation of the case.

Assistant U.S. Attorney Marie Christine Amy from the Financial Fraud & Public Corruption Section is prosecuting the case.

A criminal complaint is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

###

MIL Security OSI –

March 29, 2025
MIL-OSI Security: 20 Defendants – Convicted Felons Included – Charged Federally with Being Illegal Aliens Found in the United States Following Removal
Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

LOS ANGELES – This week, federal prosecutors working with United States Immigration and Customs Enforcement (ICE) and other federal law enforcement partners filed criminal charges against 20 defendants who allegedly were found in the U.S. following removal, the Justice Department announced today.

Many of the defendants charged previously were convicted of felony offenses before they were removed from the United States, offenses that include vandalism and firearms crimes.

One of the defendants, Antonio Espinoza Zarate, 55, a.k.a. “El Gato,” of the Mar Vista neighborhood of Los Angeles, was arrested Wednesday on a federal criminal complaint alleging he sold two kilograms of fentanyl pills to a buyer from July 2023 to February 2025 and charging him with illegally re-entering the U.S. following removal and possession with intent to distribute fentanyl. A federal magistrate judge ordered him jailed without bond a scheduled an April 15 arraignment for him in United States District Court in downtown Los Angeles. Assistant United States Attorney Diane B. Roldán of the Violent and Organized Crime Section is prosecuting Espinoza.

Espinoza is a citizen of Mexico who has been previously deported in 2010, 2013, 2014, and 2017 and illegally reentered the United States following his removals, according to court documents. His criminal history includes felony convictions in 2008 in Los Angeles Superior Court for possession of narcotics for sale and in 2015 in U.S. District Court for the District of Arizona for illegal reentry of a removed alien.

The investigation was conducted by the Homeland Security Investigations (HSI)-led El Camino Real Financial Crimes Task Force, a multi-agency task force that includes federal and state investigators who are focused on financial crimes in Southern California, with support from special agents with the United States Attorney’s Office for the Central District of California – Criminal Investigative Division; and the Bureau of Alcohol, Tobacco, Firearms and Explosives, with assistance from the Los Angeles Police Department regarding dangers to the community from the sales of narcotics and firearms.

The crime of being found in the United States following removal carries a base sentence of up to two years in federal prison. Defendants who were removed after being convicted of a felony face up to 10 years in federal prison. Defendants removed after being convicted of an aggravated felony face a statutory maximum sentence of 20 years in federal prison.

Some of the other recently filed cases are summarized below with information contained in court documents.
- Efrén García Jiménez, 24, of Mexico, was charged via a federal criminal complaint with being an illegal alien found in the United States after removal. García Jiménez, who was removed from the U.S. in 2019, was charged after being convicted in Orange County Superior Court on January 24 of discharging a firearm at an inhabited residence and vandalism, for which he was sentenced to three years in California state prison. Assistant United States Attorney Melissa S. Rabbani of the Orange County Office is prosecuting this case.
- Aristeo González Rosas, 24, of Mexico, was charged via a federal criminal complaint with being an illegal alien found in the United States after removal. González Rosas was federally charged after he was arrested on February 15 in Ventura County. Prior to this arrest, González Rosas was convicted in 2022 in Ventura County Superior Court of carrying a loaded firearm with a large capacity magazine, for which he was sentenced to eight months’ imprisonment, and again in Ventura County Superior Court in 2023 of being a felon/addict in possession of a firearm, for which he was sentenced to 16 months in California state prison. He was removed from the U.S. on August 31, 2024, and was removed again on September 5, 2024. Assistant United States Attorney Cameron C. Vanderwall of the Domestic Security and Immigration Crimes Section is prosecuting this case.
In another matter, a federal grand jury on Tuesday indicted Kevin Mauricio Ballardo-García, 24, a Mexican national, for allegedly transporting 148.12 kilograms (326.6 pounds) of methamphetamine from Mexico into Southern California. During a traffic stop in Westminster on March 11, law enforcement seized 13 buckets and one water container that held liquid methamphetamine from Ballardo-García’s Jeep Wrangler. He was ordered jailed without bond and his arraignment is scheduled for March 31 in United States District Court in Santa Ana. He is charged with one count of possession with intent to distribute methamphetamine. Assistant United States Attorney Robert J. Keenan of the Orange County Office is prosecuting this matter.

Criminal complaints and indictments contain allegations. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

ICE and Homeland Security Investigations are investigating these matters. The Drug Enforcement Administration is investigating the Ballardo-García case with assistance from California Highway Patrol and the Irvine Police Department.

These cases are 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 (OCDETF) and Project Safe Neighborhood (PSN).

MIL Security OSI –
March 29, 2025

MIL-OSI: Conifer Holdings Reports 2024 Fourth Quarter and Year End Financial Results

Source: GlobeNewswire (MIL-OSI)

TROY, Mich., March 28, 2025 (GLOBE NEWSWIRE) — Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced results for the fourth quarter and year ended December 31, 2024.

Year End 2024 Financial Highlights

Net income allocable to common shareholders of $23.5 million
$61 Million gain on sale of insurance agency operations in August 2024
Continuing Personal Lines business profitable for the fourth quarter of 2024
Book value per share of $1.76 as of December 31, 2024

Management Comments

Brian Roney, CEO of Conifer, commented, “2024 was indeed a transitional year for Conifer Holdings as we successfully sold our insurance agency operations, paid down considerable debt, further strengthened reserves, streamlined our organization overall, and focused our production efforts on select personal lines going forward.”

Reduction of Commercial Lines Business

For the full year 2024, total Gross Written Premium was down almost 50% from the prior year, and Net Earned premium was down 27.5% for the same period. As a result of the sale of Conifer’s insurance agency operations, completed in August 2024, we anticipated and planned for this significant decline in Commercial Lines revenue. We expect Commercial Lines business to represent a diminishing percentage of total gross written premium going forward.

Future premiums are expected to consist primarily of Personal Lines business, notably our homeowner’s insurance portfolio in Texas and the Midwest. As detailed in the Personal Lines results overview below, gross written premium for those lines of business for the fourth quarter of 2024 increased 10.6% from the prior year period and increased 23.4% for the full year 2024 over the prior year.

Additional information regarding the disposal of Conifer’s agency business and its impact on future Company operations can be found in the Company’s 2024 Annual Report to be filed March 28, 2025 on Form 10-K.

2024 Fourth Quarter and Full Year Financial Results Overview


	At and for the Three Months Ended December 31,								At and for the Year Ended December 31,
	2024			2023			% Change		2024			2023			% Change
	(dollars in thousands, except share and per share amounts)

Gross written premiums	$	13,683		$	24,398		-43.9	%	$	72,053		$	143,834		-49.9	%
Net written premiums		9,526			15,329		-37.9	%		49,338			68,688		-28.2	%
Net earned premiums		12,708			14,821		-14.3	%		60,862			83,935		-27.5	%

Net investment income		1,352			1,411		-4.2	%		5,763			5,447		5.8	%
Net realized investment gains (losses)		–			(20	)	**			(125	)		(20	)	**
Change in fair value of equity investments		(21	)		13		261.5	%		(203	)		608		-133.4	%

Net income (loss) allocable to common shareholders		(25,382	)		(19,479	)	-30.3	%		23,530			(25,923	)	**
Net income (loss) allocable to common shareholders	$	(2.08	)	$	(1.59	)	-30.3	%	$	1.93		$	(2.12	)
per share, diluted

Adjusted operating income (loss)*		(25,821	)		(19,411	)	-33.0	%		(34,558	)		(27,867	)	-24.0	%
Adjusted operating income (loss) per share, diluted*	$	(2.11	)	$	(1.59	)	-32.7	%	$	(2.83	)	$	(2.28	)	-24.1	%

Book value per common share outstanding	$	1.76		$	0.24				$	1.76		$	0.24

Weighted average shares outstanding, basic and diluted		12,222,881			12,222,881					12,222,881			12,220,551

Underwriting ratios:
Loss ratio (1)		254.6	%		191.1	%				120.2	%		97.8	%
Expense ratio (2)		38.3	%		40.6	%				35.8	%		37.1	%
Combined ratio (3)		292.9	%		231.7	%				156.0	%		134.9	%

* The “Definitions of Non-GAAP Measures” section of this release defines and reconciles data that are not based on generally accepted accounting principles.
** Percentage is not meaningful
(1) The loss ratio is the ratio, expressed as a percentage, of net losses and loss adjustment expenses to net earned premiums and other income from underwriting operations.
(2) The expense ratio is the ratio, expressed as a percentage, of policy acquisition costs and other underwriting expenses to net earned premiums and other income from underwriting operations.
(3) The combined ratio is the sum of the loss ratio and the expense ratio. A combined ratio under 100% indicates an underwriting profit. A combined ratio over 100% indicates an underwriting loss.

2024 Fourth Quarter Gross Written Premium

Gross written premiums decreased 43.9% in the fourth quarter of 2024 to $13.7 million, compared to $24.4 million in the prior year period. This decrease reflects the Company’s operational shift away from commercial lines insurance business given the sale of our agency group earlier in the year.

Commercial Lines Financial and Operational Review


	Three Months Ended December 31,								Year Ended December 31,
	2024			2023			% Change		2024			2023			% Change
	(dollars in thousands)

Gross written premiums	$	3,124		$	14,850		-79.0	%	$	26,686		$	107,078		-75.1	%
Net written premiums		488			7,009		93.0	%		14,541			36,580		-60.2	%
Net earned premiums		4,254			7,296		-41.7	%		28,160			59,221		-52.4	%

Underwriting ratios:
Loss ratio		650.8	%		316.7	%				184.8	%		105.7	%
Expense ratio		33.8	%		38.4	%				29.8	%		35.5	%
Combined ratio		684.6	%		355.1	%				214.6	%		141.2	%

Contribution to combined ratio from net
(favorable) adverse prior year development		550.9	%		205.5	%				118.5	%		32.3	%

Accident year combined ratio (1)		133.7	%		149.6	%				96.1	%		108.9	%

(1) The accident year combined ratio is the sum of the loss ratio and the expense ratio, less changes in net ultimate loss estimates from prior accident year loss reserves. The accident year combined ratio provides management with an assessment of the specific policy year’s profitability and assists management in their evaluation of product pricing levels and quality of business written.

The Company’s commercial lines production was down 79% for the fourth quarter of 2024 and represented roughly 23% of total gross written premium in quarter. Commercial Lines net earned premium was down 41.7% for the same period. The Commercial Lines loss ratio for the quarter increased significantly as the Company’s management focused on additional commercial lines reserve strengthening overall.

Personal Lines Financial and Operational Review


	Three Months Ended December 31,								Year Ended December 31,
	2024			2023			% Change		2024			2023			% Change
	(dollars in thousands)

Gross written premiums	$	10,559		$	9,548		10.6	%	$	45,367		$	36,756		23.4	%
Net written premiums		9,038			8,320		8.6	%		34,797			32,108		8.4	%
Net earned premiums		8,454			7,525		12.3	%		32,702			24,714		32.3	%

Underwriting ratios:
Loss ratio		55.2	%		69.0	%				64.6	%		78.9	%
Expense ratio		40.6	%		42.7	%				41.1	%		40.7	%
Combined ratio		95.8	%		111.7	%				105.7	%		119.6	%

Contribution to combined ratio from net
(favorable) adverse prior year development		0.9	%		-2.6	%				0.8	%		-5.6	%

Accident year combined ratio		94.9	%		114.3	%				104.9	%		125.2	%

Personal Lines premium represented 77% of total gross written premium for the fourth quarter of 2024. Personal Lines production increased 10.6% from the prior year period to $10.6 million for the quarter, led by growth in the Company’s low-value dwelling line of business in Texas and the Midwest.

Despite storm activity in the full year, the combined ratio for personal lines business improved significantly in 2024 compared to the same period in 2023.

Combined Ratio Analysis


	Three Months Ended December 31,				Year Ended December 31,
	2024		2023		2024		2023


Underwriting ratios:
Loss ratio	254.6	%	191.1	%	120.2	%	97.8	%
Expense ratio	38.3	%	40.6	%	35.8	%	37.1	%
Combined ratio	292.9	%	231.7	%	156.0	%	134.9	%

Contribution to combined ratio from net (favorable)
adverse prior year development	185.0	%	100.0	%	55.3	%	21.2	%

Accident year combined ratio	107.9	%	131.7	%	100.7	%	113.7	%

Net Investment Income
Net investment income increased 5.8% to $5.8 million for the year ending December 31, 2024, compared to $5.4 million in the prior year period.

Change in Fair Value of Equity Securities
During the quarter, the Company reported a loss of $21,000 from the change in fair value of equity investments, compared to a $13,000 gain in the prior year period.

Net Income (Loss) allocable to common shareholders
The Company reported a net loss allocable to common shareholders of $25.4 million, or $2.08 per share, for the fourth quarter of 2024. For the full year 2024, the Company reported net income allocable to common shareholders of $23.5 million, or $1.93 per share.

Adjusted Operating Income (Loss)

In the fourth quarter of 2024, the Company reported an adjusted operating loss of $25.8 million, or $2.11 per share. See Definitions of Non-GAAP Measures.

About Conifer Holdings
Conifer Holdings, Inc. is a Michigan-based property and casualty holding company. Through its subsidiaries, Conifer offers specialty insurance coverage for both commercial and personal lines, marketing through independent agents. The Company is traded on the Nasdaq Capital Market under the symbol CNFR. Additional information is available on the Company’s website at www.ir.cnfrh.com.

Forward-Looking Statement

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events or our future financial or operating performance, and include Conifer’s expectations regarding future revenue, premiums, earnings, its capital position, expansion, and business strategies. The forward-looking statements contained in this press release are based on management’s good-faith belief and reasonable judgment based on current information. The forward-looking statements are qualified by important factors, risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from those in the forward-looking statements, including those described in our Form 10-K (“Item 1A Risk Factors”) filed with the SEC on March 28, 2025 and subsequent reports filed with or furnished to the SEC. Any forward-looking statement made by us in this press release speaks only as of the date hereof or as of the date specified herein. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws or regulations.

Definitions of Non-GAAP Measures
Conifer prepares its public financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). Statutory data is prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners’ (NAIC) Accounting Practices and Procedures Manual, and therefore is not reconciled to GAAP data.

We believe that investors’ understanding of Conifer’s performance is enhanced by our disclosure of adjusted operating income. Our method for calculating this measure may differ from that used by other companies and therefore comparability may be limited. We define adjusted operating income (loss), a non-GAAP measure, as net income (loss) excluding: 1) net realized investment gains and losses, 2) change in fair value of equity securities 3) other gains and 4) net income from discontinued operations. We use adjusted operating income as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into our results of operations and our underlying business performance.

Reconciliations of adjusted operating income (loss) and adjusted operating income (loss) per share:


	Three Months Ended December 31,						Year Ended December 31,
	2024			2023			2024			2023
	(dollar in thousands, except share and per share amounts)

Net income (loss)	$	(25,382	)	$	(19,460	)	$	24,347		$	(25,904	)
Less:
Net realized investment gains (losses)		–			(20	)		(125	)		(20	)
Change in fair value of equity securities		(21	)		13			(203	)		608
Other gains		646			–			646			–
Net income from discontinued operations		(186	)		(42	)		58,587			1,375
Impact of income tax expense (benefit) from adjustments *		–			–			–			–
Adjusted operating income (loss)	$	(25,821	)	$	(19,411	)	$	(34,558	)	$	(27,867	)

Weighted average common shares, diluted		12,222,881			12,222,881			12,222,881			12,220,551

Diluted income (loss) per common share:
Net income (loss)	$	(2.08	)	$	(1.59	)	$	1.99		$	(2.12	)
Less:
Net realized investment gains (losses)		–			–			(0.01	)		–
Change in fair value of equity securities		–			–			(0.02	)		0.05
Other gains		0.05			–			0.06			–
Net income from discontinued operations		(0.02	)		–			4.79			0.11
Impact of income tax expense (benefit) from adjustments *		–			–			–			–
Adjusted operating income (loss), per share	$	(2.11	)	$	(1.59	)	$	(2.83	)	$	(2.28	)

* The Company has recorded a full valuation allowance against its deferred tax assets as of December 31, 2024 and December 31, 2023, respectively. As a result, there were no taxable impacts to adjusted operating income from the adjustments to net income (loss) in the table above after taking into account the use of NOLs and the change in the valuation allowance.


Conifer Holdings, Inc. and Subsidiaries
Consolidated Balance Sheets
(dollars in thousands)

	December 31			December 31,
	2024			2023
Assets
Investment securities:
Debt securities, at fair value (amortized cost of $117,827 and	$	105,665		$	122,113
$135,370, respectively)
Equity securities, at fair value (cost of $1,836 and $2,385, respectively)		1,603			2,354
Short-term investments, at fair value		21,151			20,838
Total investments		128,419			145,305

Cash and cash equivalents		27,654			10,663
Premiums and agents’ balances receivable, net		9,901			29,364
Receivable from Affiliate		–			1,047
Reinsurance recoverables on unpaid losses		84,490			70,807
Reinsurance recoverables on paid losses		6,919			12,619
Prepaid reinsurance premiums		6,088			28,908
Deferred policy acquisition costs		6,380			6,405
Receivable from contingent considerations		8,070			–
Other assets		3,735			7,036
Assets from discontinued operations		–			3,452
Total assets	$	281,656		$	315,606

Liabilities and Shareholders’ Equity
Liabilities:
Unpaid losses and loss adjustment expenses	$	189,285		$	174,612
Unearned premiums		30,590			65,150
Reinsurance premiums payable		1			246
Debt		11,932			25,061
Funds held under reinsurance agreements		25,829			24,550
Premiums payable to other insureds		–			13,986
Liabilities from discontinued operations		–			4,083
Accounts payable and accrued expenses		2,494			5,029
Total liabilities		260,131			312,717

Commitments and contingencies		–			–

Shareholders’ equity:
Series A Preferred stock, no par value (10,000,000 shares authorized; 0 and 1,000
issued and outstanding, respectively)		–			6,000
Common stock, no par value (100,000,000 shares authorized; 12,222,881
issued and outstanding, respectively)		98,178			98,100
Accumulated deficit		(63,153	)		(86,683	)
Accumulated other comprehensive income (loss)		(13,500	)		(14,528	)
Total shareholders’ equity		21,525			2,889
Total liabilities and shareholders’ equity	$	281,656		$	315,606

Conifer Holdings, Inc. and Subsidiaries
Consolidated Statements of Operations (Unaudited)
(dollars in thousands, except share and per share data)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023

Revenue and Other Income
Premiums
Gross earned premiums	$	19,721		$	38,115		$	106,612		$	146,572
Ceded earned premiums		(7,013	)		(23,294	)		(45,750	)		(62,637	)
Net earned premiums		12,708			14,821			60,862			83,935
Net investment income		1,352			1,411			5,763			5,447
Net realized investment gains (losses)		–			(20	)		(125	)		(20	)
Change in fair value of equity securities		(21	)		13			(203	)		608
Other gains		646			–			646			–
Other income		41			144			328			552
Total revenue and other income		14,726			16,369			67,271			90,522

Expenses
Losses and loss adjustment expenses, net		32,349			28,470			73,302			82,413
Policy acquisition costs		3,535			2,392			13,335			15,797
Operating expenses		3,165			3,969			11,831			16,738
Interest expense		862			845			4,883			3,206
Total expenses		39,911			35,676			103,351			118,154

Income (loss) from continuing operations before income taxes		(25,185	)		(19,307	)		(36,080	)		(27,632	)
Income tax expense (benefit)		11			111			(1,840	)		(353	)

Net income (loss) from continuing operations	$	(25,196	)	$	(19,418	)	$	(34,240	)	$	(27,279	)
Net income (loss) from discontinued operations		(186	)		(42	)		58,587			1,375
Net income (loss)		(25,382	)		(19,460	)		24,347			(25,904	)
Series A Preferred Stock Dividends and Redemption premium		–			19			817			19
Net income (loss) allocable to common shareholders		(25,382	)		(19,479	)		23,530			(25,923	)

Earnings (loss) per common share, basic and diluted
Net income (loss) from continuing operations	$	(2.06	)	$	(1.59	)	$	(2.87	)	$	(2.23	)
Net income (loss) from discontinued operations	$	(0.02	)	$	(0.00	)	$	4.79		$	0.11
Net income (loss) allocable to common shareholders	$	(2.08	)	$	(1.59	)	$	1.93		$	(2.12	)

Weighted average common shares outstanding,
basic and diluted		12,222,881			12,222,881			12,222,881			12,220,551

For Further Information:
Jessica Gulis, 248.559.0840
ir@cnfrh.com

The MIL Network –

March 29, 2025

MIL-OSI: Medallion Bank Announces Benchmark Rate for Certain Preferred Stock

Source: GlobeNewswire (MIL-OSI)

SALT LAKE CITY, March 28, 2025 (GLOBE NEWSWIRE) — Medallion Bank (Nasdaq: MBNKP, the “Bank”) today announced that, upon the commencement of the floating rate period for the Bank’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (the “Series F Preferred”) on April 1, 2025, the benchmark rate used to determine the dividend rate for each dividend period during the floating rate period will be three-month CME Term SOFR (“Term SOFR”). In addition, the dividend payment rate determination date for determining Term SOFR will be the second U.S. government securities business day preceding the first day of the relevant dividend period. The Series F Preferred trades on the Nasdaq Capital Market under the ticker symbol “MBNKP.”

About Medallion Bank

Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

For more information, visit www.medallionbank.com

Company Contact:
Investor Relations
212-328-2176
InvestorRelations@medallion.com

The MIL Network –

March 29, 2025
MIL-OSI: Aimfinity Investment Corp. I Announces Approval by Shareholders of its Business Combination with Docter Inc.

Source: GlobeNewswire (MIL-OSI)

Wilmington, DE, March 28, 2025 (GLOBE NEWSWIRE) — Aimfinity Investment Corp. I (the “AIMA”) (Nasdaq: AIMAU), a special purpose acquisition company, today announced that, the previously announced business combination (the “Business Combination”) between AIMA and Docter Inc. (“Docter”), a Taiwanese health technology company, was approved at an extraordinary general meeting of shareholders (the “EGM”) of AIMA on March 27, 2025. Approximately 93.8% of the votes cast at the EGM were in favor of the Business Combination.

In addition, in order to extend the date by which AIMA must complete the Business Combination from March 28, 2025 to April 28, 2025, on March 28, 2025, I-Fa Chang, manager of the sponsor of AIMA, deposited into AIMA’s trust account (the “Trust Account”) an aggregate of $55,823.80, or $0.05 per Class A ordinary share held by public shareholders of AIMA (the “Monthly Extension Payment”).

Pursuant to AIMA’s fourth amended and restated memorandum and articles of association (“Current Charter”), effective January 9, 2025, AIMA may extend the date by which AIMA must complete the Business Combination on a monthly basis from January 28, 2025 until October 28, 2025 or such earlier date as may be determined by its board of directors by depositing the Monthly Extension Payment for each month into the Trust Account. This is the third of nine monthly extensions available under the Current Charter of AIMA.

About Aimfinity Investment Corp. I

Aimfinity Investment Corp. I is a special purpose acquisition company (SPAC) focused on merging with high-growth potential businesses and facilitating their entry into the capital markets.

About Docter Inc.

Docter Inc. is a leading health technology company dedicated to developing innovative health monitoring solutions that enhance the accessibility and efficiency of global healthcare services.

Additional Information and Where to Find It

As previously disclosed, on October 13, 2023, AIMA entered into that certain Agreement and Plan of Merger (as may be amended, supplemented or otherwise modified from time to time, the “Merger Agreement”), by and between AIMA, Docter, Aimfinity Investment Merger Sub I, a Cayman Islands exempted company and wholly-owned subsidiary of AIMA (“Purchaser”), and Aimfinity Investment Merger Sub II, Inc., a Delaware corporation and wholly-owned subsidiary of Purchaser (“Merger Sub”), pursuant to which AIMA is proposing to enter into a business combination with Docter involving an reincorporation merger and an acquisition merger. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. AIMA’s shareholders and other interested persons are advised to read, when available, the proxy statement/prospectus and the amendments thereto and other documents filed in connection with the proposed business combination, as these materials will contain important information about AIMA, Purchaser or Docter, and the proposed business combination. The proxy statement/prospectus and other relevant materials for the proposed business combination have been mailed to shareholders of AIMA as of the record date of February 25, 2025, established for voting on the proposed business combination. Such shareholders will also be able to obtain copies of the proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to AIMA’s principal office at 221 W 9th St, PMB 235 Wilmington, Delaware 19801.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933, as amended (the “Securities Act”) and the Securities Exchange Act of 1934, as amended. Statements that are not historical facts, including statements about the proposed transactions described herein, and the parties’ perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value and post-closing equity value, the benefits of the proposed transaction, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the proposed transactions. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the proposed business combination, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived, such as regulatory approvals not being obtained, on a timely basis or otherwise, or that a governmental entity prohibited, delayed or refused to grant approval for the consummation of the transaction or required certain conditions, limitations or restrictions in connection with such approvals; (ii) risks related to the ability of AIMA and Docter to successfully integrate the businesses; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iv) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of AIMA or Docter; (v) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (vi) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of AIMA’s securities; (vii) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Docter to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (viii) risks relating to the medical device industry, including but not limited to governmental regulatory and enforcement changes, market competitions, competitive product and pricing activity; and (ix) risks relating to the combined company’s ability to enhance its products and services, execute its business strategy, expand its customer base and maintain stable relationship with its business partners.

A further list and description of risks and uncertainties can be found in the prospectus filed with the Securities and Exchange Commission (the “SEC”) on April 26, 2022 relating to AIMA’s initial public offering (File No. 333-263874), the annual report of AIMA on Form 10-K for the fiscal year ended on December 31, 2023, filed with the SEC on July 29, 2024, and in the final prospectus/proxy statement filed with the SEC on March 6, 2025 relating to the proposed transactions (File No. 333-284658) (the “Final Prospectus”), and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and AIMA, Docter, and their subsidiaries or affiliates undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Additional Information and Where to Find It

In connection with the proposed transactions described herein, Purchaser filed the Final Prospectus with the SEC on March 6, 2025. The proxy statement and a proxy card will be mailed to AIMA’s shareholders of record as of February 25, 2025. Shareholders of AIMA will also be able to obtain a copy of the Final Prospectus without charge from AIMA. The Final Prospectus may also be obtained without charge at the SEC’s website at www.sec.gov. INVESTORS AND SECURITY HOLDERS OF AIMA ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTIONS THAT AIMA WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT AIMA, DOCTER AND THE PROPOSED TRANSACTIONS.

Participants in the Solicitation

AIMA, Docter, and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of AIMA’s shareholders in connection with the proposed transactions described herein. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of AIMA’s shareholders in connection with the proposed business combination is set forth in the Final Prospectus.

No Offer or Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of any potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of AIMA, Purchaser or Docter, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therefrom.

Contact Information:

Aimfinity Investment Corp. I
I-Fa Chang
Chief Executive Officer
221 W 9th St, PMB 235
Wilmington, Delaware 19801
ceo@aimfinityspac.com

The MIL Network –

March 29, 2025
MIL-OSI: EZCORP Announces Closing of Private Offering of $300,000,000 of Senior Notes Due 2032

Source: GlobeNewswire (MIL-OSI)

AUSTIN, Texas, March 28, 2025 (GLOBE NEWSWIRE) — EZCORP, Inc. (NASDAQ: EZPW) (the “Company”), a leading provider of pawn transactions in the United States and Latin America, announced today the closing of its private offering of $300,000,000 aggregate principal amount of its senior notes due 2032 (the “Notes”). The Notes were offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 (the “Securities Act”) or outside the United States to certain non-U.S. persons in reliance on Regulation S under the Securities Act. The Notes are senior unsecured obligations of the Company and are fully and unconditionally guaranteed by certain of the Company’s wholly owned domestic subsidiaries (the “Guarantors”) and may be guaranteed in the future by certain other existing and future subsidiaries that guarantee certain indebtedness of the Company or any Guarantor.

The Notes bear interest at a rate of 7.375% per annum, payable semiannually in arrears on April 1 and October 1 of each year, beginning on October 1, 2025. The Notes will mature on April 1, 2032, unless earlier redeemed or repurchased in accordance with their terms prior to such date.

The net proceeds from the offering were approximately $292.5 million, after deducting the initial purchasers’ discounts and estimated offering expenses payable by us. The Company expects to use approximately $103.4 million of the net proceeds from the offering of the Notes to repay its outstanding 2.375% Convertible Senior Notes Due 2025 at maturity. The Company intends to use any excess proceeds for general corporate purposes.

The Notes were offered in a private placement, solely to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act, or outside the United States to certain non-U.S. persons in reliance on Regulation S under the Securities Act. The offer and sale of the Notes and related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This announcement contains certain forward-looking statements. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “prospects,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements are based on the Company’s current expectations as to the outcome and timing of future events. All statements, other than statements of historical facts, including all statements regarding the offering of the Notes or intended use of proceeds thereof, that address activities or results that the Company plans, expects, believes, projects, estimates or anticipates will, should or may occur in the future, including future capital expenditures and future financial or operating results, are forward-looking statements. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of uncertainties and other factors, including operating risks, liquidity risks, legislative or regulatory developments, market factors and current or future litigation. For a discussion of these and other factors affecting the Company’s business and prospects, see the Company’s annual, quarterly and other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

ABOUT EZCORP
Formed in 1989, EZCORP has grown into a leading provider of pawn transactions in the United States and Latin America. We also sell pre-owned and recycled merchandise, primarily collateral forfeited from pawn lending operations and merchandise purchased from customers. We are dedicated to satisfying the short-term cash needs of consumers who are both cash and credit constrained, focusing on an industry-leading customer experience. EZCORP is traded on NASDAQ under the symbol EZPW and is a member of the S&P 1000 Index and Nasdaq Composite Index.

Contact:
Email: Investor_Relations@ezcorp.com
Phone: (512) 314-2220

The MIL Network –

March 29, 2025
MIL-OSI: Arbor Realty Trust Declares Preferred Stock Dividends

Source: GlobeNewswire (MIL-OSI)

UNIONDALE, N.Y., March 28, 2025 (GLOBE NEWSWIRE) — Arbor Realty Trust, Inc. (NYSE: ABR), today announced that its Board of Directors has declared cash dividends on the Company’s Series D, Series E, and Series F cumulative redeemable preferred stock of $0.3984375, $0.390625, and $0.390625 per share, respectively. The Series D, E, and F preferred stock dividends reflect accrued dividends from January 30, 2025 through April 29, 2025. The dividends are payable on April 30, 2025 to preferred stockholders of record on April 15, 2025.

About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. (NYSE: ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, and other diverse commercial real estate assets. Headquartered in New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a leading Fannie Mae DUS® lender and Freddie Mac Optigo® Seller/Servicer, and an approved FHA Multifamily Accelerated Processing (MAP) lender. Arbor’s product platform also includes bridge, CMBS, mezzanine and preferred equity loans. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and customized solutions with an unparalleled dedication to providing our clients excellence over the entire life of a loan.

Safe Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Arbor can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Arbor’s expectations include, but are not limited to, changes in economic conditions generally, and the real estate markets specifically, continued ability to source new investments, changes in interest rates and/or credit spreads, and other risks detailed in Arbor’s Annual Report on Form 10-K for the year ended December 31, 2024 and its other reports filed with the SEC. Such forward-looking statements speak only as of the date of this press release. Arbor expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Arbor’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.

Contact:
Arbor Realty Trust, Inc.
Investor Relations
516-506-4200
InvestorRelations@arbor.com

The MIL Network –

March 29, 2025
MIL-OSI USA: Labrador Letter – Welcome to K-9 Badger

Source: US State of Idaho

(L-R) Attorney General Raúl Labrador, K-9 Badger, ICAC Investigator Lauren Lane

Dear Friends,
My personal philosophy is that the government, in general, should do a lot less. But whatever tasks remain, it should do very well. That’s certainly the case for our office’s Internet Crimes Against Children (ICAC) Unit, where our team investigates and prosecutes those accused of using the internet to exploit, extort and abuse children, including crimes of enticement and child pornography.
Over the last two years, our ICAC Unit has exceeded every expectation and metric for performance that we’ve set. Idaho’s ICAC continues to raise the bar and even serves as a nationwide model for other states to follow. It delivers real results for the people of Idaho when it comes to protecting our children and keeping predators off the streets and behind bars.
In support of our ongoing efforts to keep kids safe, I am pleased to introduce the newest team member of ICAC: K-9 Badger. Badger, a two-year-old English Labrador, is specifically trained to detect hidden electronic storage devices, like SD cards, flash drives, concealed cameras, hard drives, cell phones, and other technology used to store child sexual abuse material, or CSAM. K-9s like Badger are invaluable on search warrants when suspects conceal devices containing child pornography.
Some K-9s sniff for drugs or bombs and the chemical signatures unique to those items, picked up by the incredibly sensitive canine noses. The science is no different with Badger. He is trained to detect a very specific chemical, triphenylphosphine oxide (TPPO), sprayed on all electronic circuit boards during the manufacturing process to dissipate heat. Badger is one of only 195 K-9s worldwide trained to detect TPPO, even in challenging environments, including underwater. Badger is a potent weapon for our ICAC investigators.
In addition to detecting electronic storage devices. Badger is also dual certified as a therapy dog and will assist with relatives and victims during search warrants and throughout the legal process. Badger will also accompany his handler during educational presentations throughout Idaho.
Badger joins a dedicated team of ICAC professionals in my office, and a growing ICAC network of affiliated law enforcement agencies across Idaho, sharing resources and intelligence to investigate and prosecute these cases.
I’m happy to have another Labrador on the team!
Best regards,
Not yet subscribed to the Labrador Letter? Click HERE to get our weekly newsletter and updates. Miss an issue? Labrador Letters are archived on the Attorney General website.

MIL OSI USA News –

March 29, 2025
MIL-OSI USA: Reps. Mann, Neguse Reintroduce Legislation to Address Health Care Shortage
Source: United States House of Representatives – Representative Tracey Mann (Kansas, 1)

WASHINGTON, D.C. – Today, U.S. Representatives Tracey Mann (KS-01) and Joe Neguse (CO-02) led 11 of their colleagues in reintroducing legislation to address the nation’s health care workforce shortage. The States Handling Access to Reciprocity for Employment (SHARE) Act of 2025 would require the Federal Bureau of Investigations (FBI) to provide criminal record history information to state agencies conducting a background check for the purposes of an interstate compact. This technical amendment would improve the current licensing process for health care providers and increase the number of licensed providers able to serve communities across state lines.

“We need flexibility in our health care systems to ensure rural communities like those in the Big First have access to good, quality care,” said Rep. Mann “As hospitals and care giving facilities across rural America navigate the challenges of recruiting and retaining health care providers, Congress should correct this technical error and remove processes that only make that challenge harder. Our bill expedites the licensure process for providers by allowing the FBI to share background checks across state lines and empower health care providers to serve rural communities where care is most needed without being handcuffed by where a state ends or begins. If we want to improve the health of those in the Big First, and in rural areas and communities around the country, we must expand employment opportunities for our rural health care providers.”

The SHARE Act would make a technical correction to modernize a vital component of the licensure process for health care providers by:
- Removing red tape and reducing administrative burden: This legislation authorizes the FBI to share criminal history record information between states for licensure purposes.
- Maintaining states’ rights to determine provider eligibility: This legislation allows cooperation between states while protecting each state’s authority to determine whether a provider is eligible to practice in the state.
- Addressing the workforce shortage: This legislation extends the reach of health care professionals, eliminating the time necessary for state-to-state checks, improving access to medical specialists, and leveraging the use of new medical technologies like telehealth.
Joining Reps. Mann and Neguse in introducing the SHARE Act are Reps. Don Davis (NC-01), Doug LaMalfa (CA-01), Dan Crenshaw (TX-02), Dan Meuser (PA-09), Sam Graves (MO-06), Eleanor Holmes Norton (DC-AL), Lauren Boebert (CO-04), Michael McCaul (TX-10), Stephanie Bice (OK-05), Tony Wied (WI-08), and Derek Schmidt (KS-02).

The SHARE Act is supported by the Academy of Nutrition and Dietetics, The Accreditation Review Commission on Education for the Physician Assistant, Inc. (ARC-PA), ACPE: The Standard for Spiritual Care & Education, Alliance for Connected Care, American Academy of Audiology, American Academy of Physician Associates, American Association of Nurse Anesthesiology, American Association for Respiratory Care, American Counseling Association, American Dental Association, American Healthcare Association, American Medical Association (AMA), American Occupational Therapy Association, American Physical Therapy Association (APTA), APTA Tennessee, American Psychological Association, American Speech-Language-Hearing Association, American Telemedicine Association & ATA Action, Ascension, Association of Community Mental Health Centers of Kansas, Association of Dental Support Organizations, Association of Social Work Boards, Avera Health, Bellin+Gunderson Health System, BJC HealthCare, Bon Secours Mercy Health, Commission on Accreditation for Respiratory Care, Council of State Governments, Counseling Compact Commission, EMS Compact Commission, Essentia Health, Federation of Podiatric Medical Boards, Federation of State Medical Boards, Federation of State Boards of Physical Therapy, Healthcare Leadership Council, Interstate Commission for EMS Personnel Practice, Interstate Commission of Nurse Licensure Compact Administrators, Interstate Healthcare Collaborative, Interstate Medical Licensure Compact Commission, Kansas Association of Nurse Anesthetists, Kansas Psychological Association, Marshfield Clinic Health System, Mercy, National Academies of Practice (NAP), National Association of School Psychologists, National Board for Certification in Occupational Therapy, National Center for Assisted Living (AHCA/NCAL), National Commission on Certification of Physician Assistants, National Council of State Boards of Nursing, National Rural Health Association, Occupational Therapy Compact Commission, Physical Therapy Compact Commission, Psychology Interjurisdictional Compact Commission, Pyramid Healthcare, Rural Wisconsin Health Cooperative, Sanford Health, School Social Work Association of America, SSM Health, Talkiatry, Trinity Health, University of Pittsburgh Medical Center, UnityPoint Health, Vermont Board of Medical Practice, and Wyoming Medical Society.

“The EMS Compact strongly supports the SHARE Act as a critical measure to enhance public safety and strengthen the EMS workforce,” said Donnie Woodyard, MAML, NRP, Executive Director of the United States EMS Compact. “It is essential for public protection that state licensing officials have the ability to review criminal history records for all applicants. This fundamental safeguard ensures that only qualified and vetted EMS clinicians are entrusted with patient care, reinforcing the integrity and reliability of our nation’s emergency medical services.”

“The National Council of State Boards of Nursing (NCSBN) stands in strong support of the SHARE Act and looks forward to the 119^th Congress’s consideration of this important legislation,” said Phil Dickison, PhD, RN, Chief Executive Officer of NCSBN. “The SHARE Act represents a critical step forward in facilitating greater access to care for patients across the country. The legislation will ensure state boards of nursing can vet applicants for multistate licensure to promote safe cross-border practice.”

“The Occupational Therapy Compact Commission (OTCC) supports the SHARE Act because it is a crucial step toward ensuring public safety across states that participate in interstate occupational compacts,” said Amanda Perry, OTCC Executive Director. “This act fosters a more secure and trustworthy collaboration while strengthening the integrity of professional licensing, promoting accountability, and protecting citizens from potential harm. For the purposes of making informed licensing decisions, state licensing authorities should be afforded timely and relevant information regarding potential licensees’ criminal history that would affect safe practices within professions.”

“APTA-Tennessee endorses the SHARE Act, and we hope the 119^th Congress will approve this bipartisan legislation,” said Sarah Suddarth, APTA Tennessee President. “The SHARE Act will provide Tennesseans in medically underserved areas with greater access to physical therapy care by ensuring that PTs and other healthcare providers are quickly enabled to treat patients in multiple states.”

“The Council of State Governments has worked to develop professional licensure compacts in coordination with numerous state, federal, and professional partners,” said Dan Logsdon, Director, National Center for Interstate Compacts. “These combined efforts have contributed to states gaining greater access to qualified professionals across the nation and the essential services they provide. 52 states and territories have enacted at least one of these compacts with each state enacting at least 6, on average. CSG recognizes the importance of passage of the SHARE Act to ensure states can fully operationalize the licensure compacts they have enacted. The states clearly realize the need for improved licensure portability and increasing their healthcare workforce and as a result recognize the importance of the SHARE Act. CSG stands in support of the SHARE Act and the efforts across the nation to ensure its successful passage by Congress.”

“The American Occupational Therapy Association (AOTA) strongly supports the SHARE Act,” said Katie Jordan, CEO of the American Occupational Therapy Association. “Occupational therapy practitioners are vital to helping individuals live independent, meaningful lives. The SHARE Act will allow practitioners to bring their expertise where it is needed most, ensuring timely access to care for patients and families. We applaud this legislation as a step toward a more flexible and modern healthcare system.”

“The American Academy of Physician Associates strongly supports the SHARE Act,” said AAPA CEO Lisa M. Gables, CPA. “By removing the red tape and administrative burdens on licensure compacts, this legislation will promote workforce development and strengthen the labor market. It will also improve consumer access to highly qualified practitioners and leverage the use of new medical technologies, such as telehealth. The SHARE act would have a major impact on increasing access to healthcare while allowing states to protect their authority to determine who is eligible to practice in the state.”

“The Interstate Commission of Nurse Licensure Compact Administrators (ICNLCA) encourages enactment of the SHARE Act,” said Pam Zickafoose, EdD, MSN, RN, Chair of ICNLCA. “The Nurse Licensure Compact (NLC) enables nurses in compact states to hold a multistate license which authorizes practice in 43 jurisdictions currently. This model of licensure makes it possible for nurses to assist in other jurisdictions without any impediments or delays. Federal criminal background checks are the gold standard for public protection in occupational licensure and are a requirement for a nurse to obtain a multistate license. The SHARE Act will enable states to continue to implement and advance the NLC, therefore bringing vital nursing services to patients in need.”

“The Interstate Medical Licensure Compact Commission (IMLCC) strongly supports the SHARE Act. The Act is needed so that the FBI will have clear guidance about how the information provided enhances public safety, while supporting the public protection mission of the IMLCC member boards. Our member boards depend on reliable access to the criminal background information, which at times in the past and currently for 4 of our member boards, that access has been denied. Our member boards have been maintaining and protecting the information they receive for over 7 years.”

“The American Speech-Language-Hearing Association thanks Representatives Mann and Neguse for reintroducing the SHARE Act, and Senators Blackburn and Welch for introducing companion legislation in the Senate for the first time,” said 2025 ASHA President Bernadette Mayfield-Clarke, PhD, CCC-SLP. “ASHA strongly supports the implementation of the Audiology & Speech-Language Pathology Interstate Compact (ASLP-IC), which is currently adopted by 34 states and 1 territory to allow licensed audiologists and speech-language pathologists to obtain a privilege to practice across state lines in other ASLP-IC member states. As the ASLP-IC anticipates beginning to issue compact privileges to practice later this year, the SHARE Act is vital to ensuring that participating states can receive important information such as background check status and results so practice privileges can be issued. This will help increase access to care in underserved or geographically isolated populations through telepractice, as well as facilitate continuity of care when clients, patients, and/or students relocate or travel to another compact state. ASHA looks forward to working with the sponsors to pass the SHARE Act.”

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MIL OSI USA News –
March 29, 2025
MIL-OSI USA: Durbin, Blumenthal, Hirono, Padilla Send Letter To Deputy Director Bongino Raising Concerns Over His Ability To Lead The FBI
US Senate News:
Source: United States Senator for Illinois Dick Durbin

March 28, 2025

Senators to FBI Deputy Director Bongino: “As the newly appointed Deputy Director, your past public statements raise concerns about your ability to impartially lead the Bureau and credibly command the respect of its workforce”

WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, along with U.S. Senators Richard Blumenthal (D-CT), Mazie Hirono (D-HI), and Alex Padilla (D-CA), sent a letter to the Deputy Director of the Federal Bureau of Investigation (FBI), Dan Bongino, raising serious concerns over his ability to lead the Bureau with FBI Director Kash Patel. Deputy Director Bongino is a former conservative political commentator, podcast host, and conspiracy theorist peddler. The position of the FBI Deputy Director is not Senate-confirmed.

The Senators wrote, “As the Federal Bureau of Investigation (FBI) finalizes its new leadership structure, we are deeply concerned that Director Kash Patel’s senior leadership team is unprepared forthe challenges of managing our nation’s premier law enforcement agency and its approximately 38,000 public servants.”

“As the newly appointed Deputy Director, your past public statements—which include inflammatory remarks and unsubstantiated accusations against the FBI, including calling for the Bureau’s disbandment—raise concerns about your ability to impartially lead the Bureau and credibly command the respect of its workforce. Your record, on the other hand, does not reflect the expertise required to manage the FBI’s complex and expansive operations,” the Senators continued.

In the letter, the Senators ask for clarification regarding Deputy Director Bongino’s past controversial comments including when he said on his podcast, “The only thing that is going to stop the FBI from doing what they’re doing now, which is become full-time activists and bouncers, in many cases, thugs for the Democrat [sic] party, is imposing real material losses on them (emphasis added). Fire everyone involved in this stuff. Everyone—no excuses. Disband the entity.”

On November 14, 2024, Deputy Director Bongino described the January 6, 2021, attack on the U.S. Capitol and the placement of pipe bombs outside of the Democratic National Committee (DNC) and Republican National Committee (RNC) headquarters as an “inside job” and said, “There is a massive cover-up, because the person who planted those pipe bombs—they don’t want you to know who it was, because it’s either a connected anti-Trump insider, or this was an inside job. Those bombs were planted there. This was a setup. I have zero doubt… And whoever goes into FBI… you better get an answer… about why.” He continued to say, “It is clear, this all adds up to they know who this person is. They just don’t want you to know who this it is. Later in the podcast, Bongino went on to say that “the FBI knew the entire time the identity of this person and then tried to unknow it, because it was an insider and an inside attack and a plot to, you know, stop Republicans from questioning the election results.^”

The Senators continued, “Your claim that the FBI is responsible for a cover-up is an extremely serious allegation that you have an obligation either to substantiate or repudiate. Now that you have access to the information you have long claimed that the FBI possesses, can you answer who was responsible for the pipe bombs on January 6, 2021 and provide evidence proving their identity to the public and Congress? If no, will you apologize to the men and women of the FBI for spreading this dangerous and irresponsible lie?”

The Senators asked for clarification of these statements by April 11, 2025.

The full text of the letter can be found here and below:

Dear Deputy Director Bongino:

As the Federal Bureau of Investigation (FBI) finalizes its new leadership structure, we are deeply concerned that Director Kash Patel’s senior leadership team is unprepared for the challenges of managing our nation’s premier law enforcement agency and its approximately 38,000 public servants. As the newly appointed Deputy Director, your past public statements—which include inflammatory remarks and unsubstantiated accusations against the FBI, including calling for the Bureau’s disbandment—raise concerns about your ability to impartially lead the Bureau and credibly command the respect of its workforce. The Deputy Director oversees all FBI domestic and international investigative and intelligence activities and has historically been a career agent with extensive experience in the Bureau. Your record, on the other hand, does not reflect the expertise required to manage the FBI’s complex and expansive operations. To help address these concerns, we ask that you answer the following questions by April 11, 2025:
1. You previously said, “We don’t just fire the people who did this. Everyone who stood by and did nothing while the Department of Justice and the FBI have been ravaged, ravaged by ‘corruptocrats’ [sic].Everyone gets fired. Everyone (emphasis added).” As Deputy Director, do you still believe that every one of the FBI’s employees who “stood by” should be fired? How do you intend to determine which of the FBI’s approximately 38,000 employees “stood by”?
2. On September 26, 2022, you said on your podcast: “The only thing that is going to stop the FBI from doing what they’re doing now, which is become full-time activists and bouncers, in many cases, thugs for the Democrat [sic] party, is imposing real material losses on them (emphasis added). Fire everyone involved in this stuff. Everyone—no excuses. Disband the entity.” Now that you are a member of the Bureau’s senior leadership team, do you believe the thousands of personnel who report to you still need to suffer “real material losses”? Do you still believe the FBI should be disbanded? If yes, how do you plan on implementing such an agenda?
3. On August 29, 2024, in response to the FBI releasing information about the Butler assassination attempt, you posted: “Folks, the FBI is at it again. I don’t trust these people at all.” How can the FBI’s career law enforcement personnel earn your trust in light of this statement? Conversely, how do you intend to earn their trust when you have spent years attacking their integrity?
4. On November 14, 2024, you described the January 6, 2021 attack on the U.S. Capitol and the placement of pipe bombs outside of the Democratic National Committee (DNC) and Republican National Committee (RNC) headquarters as an “inside job” and said:
There is a massive cover-up, because the person who planted those pipe bombs—they don’t want you to know who it was, because it’s either a connected anti-Trump insider, or this was an inside job. Those bombs were planted there. This was a setup. I have zero doubt…. And whoever goes into FBI… you better get an answer… about why.

Now that you are inside the FBI, have you seen evidence to prove your implausible and outrageous allegation that the January 6 attack was an “inside job”? If yes, when do you plan to provide that evidence to the public and Congress? If no, will you apologize to the American people for perpetuating this baseless conspiracy theory?
1. Earlier this year, you said on your podcast about the unsolved January 6, 2021 pipe bombs case:
It is clear, this all adds up to they know who this person is. They just don’t want you to know who this it is. Later in the podcast, you went on to say that “the FBI knew the entire time the identity of this person and then tried to unknow it, because it was an insider and an inside attack and a plot to, you know, stop Republicans from questioning the election results.

You then claimed that “they did conduct an investigation, a legitimate one, for probably a couple of weeks because a friend of mine, who’s a federal agent, was involved in it. And they told him, once they started to hone in on who it was, to stand down.” We are disappointed that the pipe bomb case remains unsolved, given the significant danger this threat presented to the public, staff, and elected officials at the RNC and DNC on January 6, 2021. Your claim that the FBI is responsible for a cover-up is an extremely serious allegation that you have an obligation either to substantiate or repudiate. Now that you have access to the information you have long claimed that the FBI possesses, can you answer who was responsible for the pipe bombs on January 6, 2021 and provide evidence proving their identity to the public and Congress? If no, will you apologize to the men and women of the FBI for spreading this dangerous and irresponsible lie?

Thank you for your prompt attention to this matter. We look forward to hearing from you soon.

Sincerely,

-30-
MIL OSI USA News –
March 29, 2025
MIL-OSI United Nations: Tax Systems Must Be Aligned with Sustainable Development, Economic and Social Council Told

Source: United Nations 4

While Technology Optimizes Collections, Globalization, Digitization Also Open Loopholes to Evasion

(Note: Full coverage of today’s Economic and Social Council meetings will be made available after their conclusion.)

Speakers stressed the need for stronger global action to harness the power of taxation as a catalyst for sustainable development at today’s Economic and Social Council special meeting on international cooperation in tax matters.

As the United Nations framework convention on this topic moves into the negotiating stage, the special meeting brings together Member States, members of the UN Committee of Experts on International Tax Cooperation (UN Tax Committee) and other stakeholders. This year’s meeting addressed two themes: inclusive and effective international tax cooperation and gender inclusivity through tax policy.

In his opening remarks, Robert Rae (Canada), President of the Economic and Social Council, highlighted the 20 years of dialogue between the Council and the UN Tax Committee — comprising 25 members nominated by Governments and appointed by the UN Secretary-General — as “an effective model of how the United Nations system can mainstream specialized policy areas” across the broader development agenda. “Fair tax systems and effective fiscal policies are powerful tools to mobilize resources [and] reduce inequalities,” he said.

Echoing that, Li Junhua, Under-Secretary-General for Economic and Social Affairs, noted that developing countries continue to lose significant resources through tax avoidance and evasion. Stronger domestic tax administration and effective international engagement are necessary to address this. It is further important to address systemic gender disparities by revealing hidden biases in tax policies, he added.

Liselott Kana, Co-Chairperson of the UN Tax Committee, outlined the work of the expert body, including its updates to the UN Model Tax Convention and the Manual for the Negotiation of Bilateral Tax Treaties. These updates “have significantly increased the UN Model’s profile and its influence in bilateral tax treaty negotiations”, she said. The Committee’s work has expanded beyond traditional international tax issues to address domestic resource mobilization, she said, adding: “This is the real world in which tax policymakers and decision makers have to operate.”

Maria José Garde, Director-General of Taxation at the Ministry of Finance of Spain, highlighted that country’s experience with a highly digitalized tax administration. Digitalization makes it possible for tax administration to become more efficient, facilitate compliance and simplify processes. It also facilitates the use of artificial intelligence (AI) and big data to fight fraud and tax evasion. However, it has also opened the door for tax evasion and avoidance, she pointed out. Taxation does not only mean collecting taxes — “it’s also a powerful instrument to make progress and against inequality” through progressive policies that tax major fortunes or corporations, she pointed out.

In a panel discussion moderated by Mathew Gbonjubola, Co-Chairperson of the UN Tax Committee, speakers examined challenges and opportunities to strengthen domestic resource mobilization.

Ramesh Narain Parbat, Head of Tax Policy Division, Central Board of Direct Taxes at the Ministry of Finance of India, shared lessons from his country’s pathway towards a double-digit growth rate in direct tax collection. He highlighted two financial social-welfare schemes — both linked to a unique identification number, enabling digitalization and obliteration of leakages. The Government has also encouraged mobile-based digital payment platforms, which vegetable vendors now use to deposit and save money more efficiently, he said.

The global tax system today reflects old economic realities, he said, noting that taxing rights have historically been tied to physical presence, which is outdated in today’s digital economy. Digital businesses can make a lot of money in different countries, but pay little or no taxes. Further, a fair allocation of tax rights must recognize the interconnected global supply chain value creation, he stressed.

Africa Loses $100 Billion Yearly to Illicit Financial Flows

Chenai Mukumba, Executive Director of Tax Justice Network Africa, noted that Africa loses $88.6 billion to $100 billion annually due to illicit financial flows — “resources that should be funding public services”. Multinational corporations exploit gaps in transfer pricing rules, tax treaties and secrecy jurisdictions, reducing the continent’s tax base. This has caused many African Governments to revert to regressive tax systems. Kenya’s July 2024 protests over tax hikes illustrate this, she pointed out, adding: “Overreliance on consumption taxes disproportionately affects lower-income populations, while high-net-worth individuals and large corporations remain undertaxed.” “The current international tax system is fragmented,” and dominated by exclusive decision-making bodies, she said. A UN tax convention could establish binding rules on corporate taxation, transparency and exchange of information, ensuring all countries have equal decision-making power. African countries need a greater share of taxing rights to reflect the economic activities occurring within their borders. “This looks like redesigning tax treaties to prevent excessive revenue losses and ensuring a fair allocation of profits,” she said.

“Tax is a jealously guarded sovereign right,” said Ben Dickinson, Deputy Director of Organisation for Economic Co-operation and Development (OECD) Centre for Tax Policy and Administration. Countries choose to collaborate on taxation only where international collaboration is important for their domestic policy goals. Also drawing attention to United Nations Development Programme’s (UNDP) partnership with Tax Inspectors Without Borders, he said it has helped countries realize over $2.4 billion in additional revenues.

While there has been important progress in international corporate taxation, “no one area of tax policy will suffice to mobilize the scale of revenues required”, he warned. Therefore, it is crucial to look at all policy areas, including value added tax, personal income tax, social security contributions and property taxation.

The second part of the same panel discussion focused on “Taxation of Cross-Border Services — a multi-faceted approach” and featured the following panellists: Thulani Shongwe, Head, African Multilateral Cooperation, African Tax Administration Forum; Marcio Ferreira Verdi, Executive Secretary of the Inter-American Center of Tax Administrations; and John Connors, Chair, Global Tax Commission, International Chamber of Commerce.

…

MIL OSI United Nations News –

March 29, 2025
MIL-OSI Security: Individual Indicted and Arrested for Conspiracy to Distribute Fentanyl and Cocaine

Source: Office of United States Attorneys

SAN JUAN, Puerto Rico – On March 27, 2025, a federal grand jury in the District of Puerto Rico returned a three-count indictment charging Carlos A. Guerra-Colón with conspiracy to distribute and to possess with intent to distribute fentanyl, and possession with intent to distribute cocaine.

According to court documents, Carlos A. Guerra-Colón, beginning on a date unknown, but no later than March 18, 2025, conspired and agreed with others to knowingly possess with intent to distribute fentanyl and cocaine.

While conducting inspection duties, United States Postal Inspection Service (USPIS) employees identified a suspicious package that, upon examination, contained 2.365 kilograms of fentanyl. On March 18, 2025, Guerra-Colón went to the United States Postal Service (USPS) Aguadilla Main Post Office to pick up the package containing the fentanyl. When Guerra-Colón exited the post office, USPIS agents proceeded to arrest him. After he was detained, agents conducted a search of Guerra-Colón’s vehicle that resulted in the seizure of 24 zip lock bags containing cocaine.

“Eliminating drug trafficking networks is critical to our ongoing efforts to combat the fentanyl crisis in America and save lives,” said W. Stephen Muldrow, U.S. Attorney for the District of Puerto Rico. “Our office will prosecute fentanyl traffickers and dealers to the fullest extent of the law.”

“Fentanyl is a weapon of mass destruction disguised as a drug, it kills indiscriminately and fuels the suffering of countless families,” said DEA Caribbean Division Special Agent in Charge Michael A. Miranda. “The DEA will not stop. We will pursue every trafficker, dismantle every network, and enforce every law with unwavering resolve to protect our communities and save lives.”

If convicted the defendant faces a mandatory minimum sentence of 10 years of imprisonment with a statutory maximum penalty of life in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

The Drug Enforcement Administration (DEA) is in charge of the investigation with the collaboration of the United States Postal Inspection Service (USPIS); the Department of Homeland Security Investigations (HSI); the Federal Bureau of Investigation (FBI); the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF); and the Puerto Rico Police Bureau (PRPB).

Assistant United States Attorney (AUSA) and Chief of the Transnational Organized Crime Section Max J. Pérez-Bouret; Deputy Chief of the Transnational Organized Crime Section, AUSA María L. Montañez-Concepción; and AUSA Luis A. Valentín are prosecuting the case.

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).

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

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MIL Security OSI –

March 29, 2025
MIL-OSI Security: U.S. Attorney’s Office Filed 90 Border-Related Cases This Week
Source: Office of United States Attorneys

SAN DIEGO – Federal prosecutors in the Southern District of California filed 90 border-related cases this week, including charges of transportation of illegal aliens, reentering the U.S. after deportation, deported alien found in the United States, and importation of controlled substances.

The U.S. Attorney’s Office for the Southern District of California is the fourth-busiest federal district, largely due to a high volume of border-related crimes. This district, encompassing San Diego and Imperial counties, shares a 140-mile border with Mexico. It includes the San Ysidro Port of Entry, the world’s busiest land border crossing, connecting San Diego (America’s eighth largest city) and Tijuana (Mexico’s second largest city).

In addition to reactive border-related crimes, the Southern District of California also prosecutes a significant number of proactive cases related to terrorism, organized crime, drugs, white-collar fraud, violent crime, cybercrime, human trafficking and national security. Recent developments in those and other significant areas of prosecution can be found here.

A sample of border-related arrests this week includes:
- Mexican national Aurora Karina Sanchez Quioano was arrested on March 23, 2025, and charged with illegally entering the U.S. after being previously deported after the U.S. Coast Guard reported a vessel onshore at Dog Beach in Ocean Beach. When a U.S. Border Patrol agent arrived at Dog Beach following the report, citizens pointed him towards a jogging trail where he found Sanchez soaking wet. Sanchez was previously deported on August 8, 2024.
- On March 23, 2025, Angel Alonso Peralta Fuerte and Juan Jose Diaz-Guerena, both citizens of Mexico, were arrested and charged with alien smuggling for financial gain after the vessel they were operating with 19 individuals on board was detained by the U.S. Coast Guard. All 19 passengers on the vessel admitted that they are citizens of Mexico without lawful documents allowing them to enter the United States and were arrested by San Diego based U.S. Border Patrol Agents. Peralta was previously deported on February 26, 2025, less than a month prior to this arrest. Two of the individuals on the vessel were also charged with attempted reentry of removed alien based on their prior criminal and immigration history. According to the complaint, several individuals of the boat stated they were paying between $3,000-15,000 if successfully smuggled into the United States.
- Xavier Garcia, a United States citizen, was arrested on March 26, 2025, when he attempted to cross into the U.S. from Mexico at the Otay Mesa Port of Entry on drug importation charges. According to a federal complaint, he was the driver and registered owner of a vehicle in which Customs and Border Protection officials found 503 packages containing more than 500 pounds of methamphetamine hidden in the engine area, seats, spare tire, doors, roof, tailgate, and center console of his vehicle.
Federal law enforcement has focused immigration prosecutions on undocumented aliens who are engaged in criminal activity in the U.S., including those who commit drug and firearms crimes, who have serious criminal records, or who have active warrants for their arrest. Federal authorities have also been prioritizing investigations and prosecutions against drug, firearm, and human smugglers and those who endanger and threaten the safety of our communities and the law enforcement officers who protect the community.

The immigration cases were referred or supported by federal law enforcement partners, including Homeland Security Investigations (HSI), Immigration and Customs Enforcement’s Enforcement and Removal Operations (ICE ERO), Customs and Border Protection, U.S. Border Patrol, the Drug Enforcement Administration (DEA), the Federal Bureau of Investigation (FBI), the U.S. Marshals Service (USMS), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), with the support and assistance of state and local law enforcement partners.

Indictments and criminal complaints are merely allegations and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –
March 29, 2025
MIL-OSI Security: South Florida Man Pleads Guilty To Smuggling Fentanyl And Other Contraband Into Prison

Source: Office of United States Attorneys

Ocala, Florida – Acting United States Attorney Sara C. Sweeney announces that Jose Santos Pardo (25, Homestead) has pleaded guilty to possession of contraband by a federal inmate. Santos Pardo faces up to 10 years in federal prison. A sentencing date has not yet been set.

A federal grand jury returned a superseding indictment against Santos Pardo on March 18, 2025.

According to court records, in 2022, Santos Pardo was an inmate at the Coleman Federal Correctional Complex (FCC Coleman). He was assigned to a low security section of the prison where inmates are not confined by fencing. On the night of November 19, 2022, a correctional officer observed Santos Pardo running along the side of the road toward his housing unit carrying two duffle bags and a trash bag. Federal Bureau of Prisons staff confronted Santos Pardo and searched the bags. The bags contained contraband including drugs, tobacco, several bottles of alcohol, and 14 cellphones. During an interview with law enforcement, Santos Pardo admitted that he had picked up the bags from the road to bring them back to his housing unit. FCC Coleman inmates are prohibited from possessing these items because they threaten the order, discipline, and security of the prison, or the life, health, and safety of federal prisoners and staff.

This case was investigated by the Federal Bureau of Investigation and the Federal Bureau of Prisons. It is being prosecuted by Assistant United States Attorney Hannah Nowalk Watson.

MIL Security OSI –

March 29, 2025
MIL-OSI Security: Superseding Indictment Charges Fourth Member of Robbery Crew Allegedly Responsible for Eight-Month Robbery Spree in Chicago
Source: Office of United States Attorneys

CHICAGO — A federal superseding indictment unsealed today charges a fourth member of a robbery crew allegedly responsible for violently robbing multiple liquor stores, convenience stores, and bars in Chicago.

XAVIER HARRIS conspired with his brother, ARDARIES HARRIS, and JORDAN FOX and ROOSEVELT VEAL to rob more than a dozen Chicago businesses in 2023 and 2024, according to the superseding indictment unsealed today in U.S. District Court in Chicago. The robbers used stolen cars as getaway vehicles, wore masks, and brandished firearms in the heists. In some of the robberies, members of the crew fired shots from machine guns, the indictment states.

Ardaries Harris, 27, of Chicago, Fox, 25, of Chicago, and Veal 27, of Rockford, Ill., were originally charged last year with conspiracy, robbery, and firearm offenses in connection with five robberies or attempted robberies. The superseding indictment adds Xavier Harris as a defendant, charges ten additional robberies or attempted robberies, and raises the mandatory minimum sentence for Ardaries Harris, Fox, and Veal to thirty years each. Xavier Harris faces a mandatory minimum sentence of 21 years. The maximum sentence for each of the defendants is life in prison.

Xavier Harris, 26, of Chicago, was arrested on Thursday. He was arraigned today in federal court and pleaded not guilty to the charges in the superseding indictment. The three other defendants were already in federal custody and will be arraigned at a later date.

According to the superseding indictment, the defendants conspired to commit the following robberies or attempted robberies in Chicago:
- Aug. 24, 2023: Ace’s Liquor and Tap, 4400 block of West Armitage Avenue.
- Nov. 24, 2023: Super Saving Food, 4400 block of West Belmont Avenue.
- Jan. 10, 2024: A&R Food Mart, 5900 block of West Grand Avenue.
- Jan. 11, 2024: Central Extra Value Food and Liquor, 2900 block of North Central Avenue.
- Jan. 13, 2024: Buchanas Food & Liquor, 1800 block of West 47th Street.
- Jan. 15, 2024: Mr. P Beverage Depot, 2000 block of West Division Street.
- Jan. 15, 2024: Before You Go Liquor, 1900 block of West Fullerton Avenue.
- Jan. 15, 2024: Clybourn Market, 2800 block of North Clybourn Avenue.
- May 3, 2024: Humboldt Haus Liquor, 2900 block of West North Avenue.
- May 3, 2024: Gladstone Food Mart, 5700 block of North Milwaukee Avenue.
- May 4, 2024: Irish Nobleman Pub, 1300 block of West Erie Street.
- May 7, 2024: Buchanas Food & Liquor, 1800 block of West 47th Street.
- May 7, 2024: El Trebol Liquors and Bar, 1100 block of West 18th Street.
- May 7, 2024: Community Food and Liquor, 5500 block of North Milwaukee Avenue.
- May 9, 2024: Basil Food & Liquor, 7700 block of North Western Avenue.
The superseding indictment was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, Christopher Amon, Special Agent-in-Charge of the Chicago Field Division of the U.S. Bureau of Alcohol, Tobacco, Firearms, and Explosives, and Larry Snelling, Superintendent of the Chicago Police Department. Valuable assistance was provided by U.S. Immigration and Customs Enforcement’s Homeland Security Investigations in Chicago, the Illinois State Police, and the U.S. Marshals Service’s Great Lakes Regional Task Force. The government is represented by Assistant U.S. Attorneys Emily C.R. Vermylen and Stephanie Stern.

This investigation is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to protect our communities from the perpetrators of violent crime. The case was also conducted in coordination with ATF’s Crime Gun Intelligence Center of Chicago (CGIC), a centralized law enforcement hub that focuses exclusively on investigating and preventing gun violence in Chicago and throughout northern Illinois.

The public is reminded that an indictment is not evidence of guilt. The defendants are presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.

MIL Security OSI –
March 29, 2025
MIL-OSI Security: Man Facing Federal Charges Following Montgomery Dry Cleaner Business Robbery

Source: Office of United States Attorneys

Montgomery, Ala. – A Montgomery, Alabama man has been charged with federal crimes for his alleged role in the March 10, 2025, robbery of a Montgomery dry cleaning business, announced Acting United States Attorney Kevin Davidson. On March 26, 2025, law enforcement arrested 58-year-old Zedekiah Sykes, on charges of armed robbery, carjacking, and brandishing a firearm in furtherance of a federal crime of violence. The United States District Court in Montgomery unsealed Sykes’ criminal complaint today.

The arrest took place after an investigation by the Federal Bureau of Investigation, Montgomery Police Department, Alabama Law Enforcement Agency (ALEA), and the Metro Area Crime Suppression (MACS) Task Force, with assistance from the Montgomery County District Attorney’s Office. Sykes will make his initial appearance in federal court this afternoon at 1:00pm.

A criminal complaint is merely an allegation that a crime has been committed. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

If convicted on all charges, Sykes faces a sentence of seven years to life in prison. There is no parole in the federal system. This case is being prosecuted by Assistant United States Attorney Paul Markovits.

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).

MIL Security OSI –

March 29, 2025
MIL-OSI USA: Welch Speaks on Finance Committee’s Investigation into Pfizer’s Tax Scheme: “What we’re talking about today proves that the suspicion that Vermonters have about things being rigged—they’re right.”

US Senate News:

Source: United States Senator Peter Welch (D-Vermont)
WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, this week took to the Senate Floor to highlight the Senate Finance Committee’s new report that found Pfizer, which generated $20 billion in U.S. sales of prescription drugs in 2019, reported zero taxable U.S. income by claiming 100% of its profits were earned overseas. Pfizer’s scheme enabled the pharmaceutical giant to dodge billions in U.S. taxes.
“What did we find out with the Wyden report? We found that a major United States pharmaceutical company was able to make sales of $20 billion of its product in 2019 and report zero in income. Zero in profits here in this country. What that ultimately means is that what Pfizer paid on its taxes—despite this extraordinary profit—they paid less than a mail room clerk pays in Social Security. They paid less than the pharmacist at the drugstore who dispenses the prescriptions. They paid less than the delivery drivers who may have brought these prescriptions to a person’s home. They paid less than the employees of Pfizer, whether it was a lab technician or a clerk or anyone at that company,” said Senator Welch.
“This is really shocking, but if any of us wonder why everyday folks, who are showing up to do their job in all of the places of employment—in your state and mine—and then at the end of the month, despite all their hard work, are having trouble paying the utility bill. And they just wonder: is this system rigged? They’re right, And Exhibit A is what has been exposed in this report by the Senate Finance Committee and Senator Wyden.”
Watch Senator Welch’s speech below:
The Senate Finance Committee’s investigation into Pfizer, led by Ranking Member Ron Wyden (D-Ore.), also revealed that Pfizer signed nondisclosure agreements for special tax deals with the governments of Singapore and Puerto Rico to conceal information how the company conspired to evade billions in taxes from Congressional investigation.
The full report containing new findings on Pfizer’s tax dodging scheme is available here. Pfizer joins the growing number of extraordinarily wealthy Big Pharma companies that report minimal or no U.S. profits on tax returns despite American patients providing their largest customer base.
Senator Welch’s Committee and Subcommittee Assignments for the 119th Congress include:
Senate Committee on Finance
Senate Committee on Agriculture, Nutrition, & Forestry
Ranking Member, Subcommittee on Rural Development, Energy, and Credit
Senate Committee on the Judiciary
Ranking Member, Subcommittee on the Constitution
Senate Committee on Rules & Administration

MIL OSI USA News –

March 29, 2025
MIL-OSI Canada: Expanding urgent care across Alberta
[. In response, the government is making significant investments to ensure every Albertan has access to high-quality care close to home. Currently, more than 35 per cent of emergency department visits are for non-life-threatening conditions that could be treated at urgent care centres. By expanding these centres, Alberta’s government is enhancing the health care system and improving access to timely care.

If passed, Budget 2025 includes $15 million to support plans for eight new urgent care centres and an additional $2 million in planning funds for an integrated primary and urgent care facility in Airdrie. These investments will help redirect up to 200,000 lower-acuity emergency department visits annually, freeing up capacity for life-threatening cases, reducing wait times and improving access to care for Albertans.

“More people are choosing to call Alberta home, which is why we are taking action to build capacity across the health care system. Urgent care centres help bridge the gap between primary care and emergency departments, providing timely care for non-life-threatening conditions.”

Adriana LaGrange, Minister of Health

“Our team at Infrastructure is fully committed to leading the important task of planning these eight new urgent care facilities across the province. Investments into facilities like these help strengthen our communities by alleviating strains on emergency departments and enhance access to care. I am looking forward to the important work ahead.”

Martin Long, Minister of Infrastructure

The locations for the eight new urgent care centres were selected based on current and projected increases in demand for lower-acuity care at emergency departments. The new facilities will be in west Edmonton, south Edmonton, Westview (Stony Plain/Spruce Grove), east Calgary, Lethbridge, Medicine Hat, Cold Lake and Fort McMurray.

“Too many Albertans, especially those living in rural communities, are travelling significant distances to receive care. Advancing plans for new urgent care centres will build capacity across the health care system.”

Justin Wright, parliamentary secretary for rural health (south)

“Additional urgent care centres across Alberta will give Albertans more options for accessing the right level of care when it’s needed. This is a necessary and substantial investment that will eventually ease some of the pressures on our emergency departments.”

Dr. Chris Eagle, chief executive officer, Acute Care Alberta

The remaining $2 million will support planning for One Health Airdrie’s integrated primary and urgent care facility. The operating model, approved last fall, will see One Health Airdrie as the primary care operator, while urgent care services will be publicly funded and operated by a provider selected through a competitive process.

“Our new Airdrie facility, offering integrated primary and urgent care, will provide same-day access to approximately 30,000 primary care patients and increase urgent care capacity by around 200 per cent, benefiting the entire community and surrounding areas. We are very excited.”

Dr. Julian Kyne, physician, One Health Airdrie

Alberta’s government will continue to make smart, strategic investments in health facilities to support the delivery of publicly funded health programs and services to ensure Albertans have access to the care they need, when and where they need it.

Budget 2025 is meeting the challenge faced by Alberta with continued investments in education and health, lower taxes for families and a focus on the economy.

Quick facts
- The $2 million in planning funds for One Health Airdrie are part of a total $24-million investment to advance planning on several health capital initiatives across the province through Budget 2025.
- Alberta’s population is growing, and visits to emergency departments are projected to increase by 27 per cent by 2038.
- Last year, Alberta’s government provided $8.4 million for renovations to the existing Airdrie Community Health Centre.
Related information
- Regional health corridors
Multimedia
- Watch the news conference
MIL OSI Canada News –
March 29, 2025
MIL-OSI USA: Father, son arrested on fentanyl trafficking, gun sales and immigration violations following ICE, multiagency investigation

Source: US Immigration and Customs Enforcement

LOS ANGELES – A father and son were arrested March 26, for trafficking fentanyl and illegal firearms sales. The investigation was conducted by U.S. Immigration and Customs Enforcement assisted by multiple federal and state law enforcement agencies focused on financial crimes in Southern California.

“Transnational crime, including the trafficking of fentanyl and weapons, remains a persistent and dangerous threat to our communities,” said ICE Homeland Security Investigations acting Special Agent in Charge Los Angeles John Pasciucco. “HSI Los Angeles remains committed to combatting these threats by working alongside federal, state, and local law enforcement to dismantle criminal networks, disrupt trafficking routes and to bring these perpetrators to justice.”

Antonio Espinoza Zarate, 55, also known as “El Gato,” and his son, Francisco Javier Espinoza Galindo, 31, were arrested and charged in U.S. District Court, Central District of California. Antonio Espinoza was also charged with illegal reentry of a removed alien.

According to affidavits filed with the complaints, in July 2023, Antonio Espinoza sold a pistol, a rifle, 131 rounds of ammunition, and more than 500 grams of fentanyl pills to a buyer. He is not licensed to engage in the business of dealing in firearms.

In August 2023, Antonio Espinoza allegedly sold an AR-style rifle and approximately one kilogram of fentanyl pills to a buyer, supplied by Francisco Espinoza. In January 2025, he allegedly sold a rifle, a pistol, a revolver, and ammunition to a buyer. The following month, with his son present, Antonio Espinoza sold more than 500 grams of fentanyl pills to a confidential informant.

Antonio Espinoza is a citizen of Mexico, who has been previously deported in 2010, 2013, 2014 and 2017. He illegally reentered the United States following his removals. If convicted of all charges, both defendants would face a statutory maximum sentence of life in federal prison and a mandatory minimum sentence of 10 years in federal prison.

“ATF is working alongside the Department of Homeland Security to assist with their immigration efforts in the Los Angeles area,” said ATF Special Agent in Charge Kenneth Cooper, Los Angeles Field Division. “These efforts are targeting gang members, drug traffickers and dangerous criminals who have entered the country illegally. Public safety is at the forefront of ATF’s mission. We will continue to provide our support to our partners at the Department of Homeland Security to ensure the safety of this community.”

The ICE HSI-led El Camino Real Financial Crimes Task Force, is comprised of the United States Attorney’s Office for the Central District of California – Criminal Investigative Division; and the Bureau of Alcohol, Tobacco, Firearms and Explosives, with assistance from the Los Angeles Police Department.

To report suspected fentanyl and firearms trafficking, contact 1-866-347-2423.

Learn more about ICE HSI’s mission to protect children in your community on X at @HSILosAngeles.

MIL OSI USA News –

March 29, 2025
MIL-OSI Security: Mississippi Man Guilty of Impersonating Deputy United States Marshal

Source: Office of United States Attorneys

NEW ORLEANS, LOUISIANA – Acting United States Attorney Michael M. Simpson announced that WILLIAM GILCHRIST (“GILCHRIST”), a resident of Greenville, Mississippi pleaded guilty on March 25, 2025 for impersonating a deputy United States Marshal, in violation of Title 18, United States Code, Section 912.

According to the indictment, on or about June 19, 2024, GILCHRISTfalsely assumed and pretended to be a Fugitive Task Force Officer with the United States Marshals Service to evade arrest by a Jefferson Parish Sheriff’s Office Detective.

At the sentencing hearing, scheduled for June 24, 2025 before U.S. District Judge Susie Morgan, GILCHRIST faces up to 3 years imprisonment, up to 1 year of supervised release, up to a $250,00 fine, and a $100 mandatory special assessment fee.

Acting U.S. Attorney Simpson praised the work of Homeland Security Investigations and the Jefferson Parish Sheriff’s Office in investigating this matter. Assistant United States Attorney Paul J. Hubbell of the General Crimes Unit is in charge of the prosecution.

MIL Security OSI –

March 29, 2025
MIL-OSI USA: Rep. Russell Fry’s Federal Law Enforcement Officer Service Weapon Purchase Act Passes out of House Judiciary Committee
Source:

Rep. Russell Fry’s Federal Law Enforcement Officer Service Weapon Purchase Act Passes out of House Judiciary Committee

WASHINGTON, D.C. – Today, Congressman Russell Fry (SC-07) announced that his Federal Law Enforcement Officer Service Weapon Purchase Act passed out of the House Judiciary Committee. Under current law, federal agencies are required to destroy retired firearms so they are rendered inoperable and incapable of being reused. This process costs the federal government millions of dollars and trickles down to American taxpayers.

Allowing current and retired federal law enforcement officers in good standing to purchase retired firearms is a commonsense, cost-saving measure that benefits both law enforcement and American taxpayers.

“The Federal Law Enforcement Officer Service Weapon Purchase Act not only saves American taxpayers millions of dollars but also creates a system in which law enforcement officers in good standing can exercise their Second Amendment rights by purchasing their retired service weapons,” said Congressman Fry. “This legislation is a practical measure that recognizes the service of our federal officers while also encouraging responsible use of government resources.”

This bill is endorsed by the National Association of Police Organizations, the Federal Law Enforcement Officers Association, the National Treasury Employees Union, and the FBI Agents Association.

“This bill is a common-sense measure with numerous benefits. Allowing federal officers and agents to buy back their service weapons serves as a force multiplier in our communities, reduces material waste, and saves taxpayer dollars,” said Federal Law Enforcement Officers Association President Mathew Silverman. “Many agencies have already implemented similar buyback programs, and officers across other agencies have long advocated for this initiative. We commend Representative Fry for his leadership in advancing this effort in advance of National Police Week.”

“The Federal Law Enforcement Officer Service Weapon Purchase Act establishes a commonsense program that allows federal law enforcement officers to purchase retired service weapons,” said Bill Johnson, Executive Director of the National Association of Police Organizations. “These weapons would otherwise be unnecessarily destroyed at a great cost to the federal taxpayer. NAPO thanks Congressman Fry for his leadership on this bill.”

“The National Treasury Employees Union, which represents frontline Customs and Border Protection Officers at ports of entry around the country, endorses the Federal Law Enforcement Officer Service Weapon Purchase Act,” said Doreen Greenwald, National President of NTEU. “We commend Rep. Russell Fry and other cosponsors for this commonsense legislation that would allow federal law enforcement officers to purchase their retired service handguns, under certain conditions, and save the government the cost of destroying them. Bringing this bill up for debate during Police Week is especially appropriate, as it shows these highly trained officers a level of respect and professionalism that they have earned and deserve.”

“The FBIAA is pleased that the Federal Law Enforcement Officer Service Weapon Purchase Act has been introduced and we hope Congress will move swiftly to pass the bill into law,” said Natalie Bara, President of the FBI Agents Association. “Federal law enforcement officers should be allowed to purchase retired service weapons, and the bill is recognition of the responsibility, professionalism and commitment to public safety that is required of FBI Special Agents and other federal law enforcement officers. Congress should enact this legislation as soon as possible.”

In addition, the following groups sent a letter to the House Judiciary Committee in support of the bill:
- Association of State Criminal Investigative Agencies
- Federal Law Enforcement Officers Association
- Major Cities Chiefs Association
- Major County Sheriffs of America
- National Association of Police Organizations
- National Narcotics Officers’ Associations’ Coalition
- Sergeants Benevolent Association NYPD
Full text of the Federal Law Enforcement Officer Service Weapon Purchase Act can be found here.

Congressman Fry serves on both the House Energy and Commerce Committee and the House Judiciary Committee. To stay up to date with Congressman Fry and his work for the Seventh District, follow his official Facebook, Instagram, and X pages and visit his website at fry.house.gov.

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MIL OSI USA News –
March 29, 2025
MIL-OSI USA: International law enforcement cooperation leads to takedown and immigration arrests of alien smugglers in US and Brazil

Source: US Immigration and Customs Enforcement

WORCESTER, Mass. – Extensive coordination and cooperation between the United States and Brazilian law enforcement and prosecution authorities culminated March 26 in a significant enforcement operation to dismantle a transnational criminal organization allegedly responsible for the illicit smuggling of hundreds of individuals from Brazil to the United States.

The enforcement operation included the arrest of a previously convicted alien smuggler who allegedly reentered the United States illegally after deportation to Brazil and was residing unlawfully in Worcester. The Brazilian Federal Police (PF) executed multiple search warrants in Brazil and arrested an alleged Brazil-based human smuggler.

Flavio Alexandre Alves, also known as “Ronaldo,” 41, was arrested by U.S. Immigration and Customs Enforcement in Worcester on a criminal complaint charging him with conspiracy to bring aliens to and transport aliens within the United States for the purpose of commercial or financial gain in violation of law. Alves appeared in federal court in Worcester the day of his arrest.

According to court documents, Alves conspired with others to transport aliens from Brazil through Mexico and then into the United States. Once the aliens arrived in the United States, Alves allegedly purchased airline tickets for the aliens to other U.S. destinations. Alves also allegedly transferred money from the United States to aliens and smugglers located in Mexico to pay for expenses associated with transit into the United States and collected fees from aliens for being smuggled into the United States. Alves allegedly was previously convicted of human smuggling in the Central District of California in 2004 and deported to Brazil in February 2005. Court documents indicate that Alves has been residing in the United States without an immigration status after illegally re-entering the United States.

It is alleged that between May 2021 and August 2022, Alves purchased more than 100 individual airline tickets from Tucson or Phoenix to destination cities in Massachusetts and Pennsylvania (Boston, Pittsburgh, Harrisburg and Philadelphia). Some of these purchases were for migrants who recently had encounters with U.S. Customs and Border Protection officers or were recently released from detention.

Additionally, ICE Homeland Security Investigations offices in Pittsburgh, Harrisburg, and Philadelphia, supported by partner law enforcement agencies, detained four individuals associated with the alien smuggling organization on administrative immigration violations.

The investigation and arrest of Alves was coordinated under Joint Task Force Alpha and the Extraterritorial Criminal Travel Strike Force program. JTFA, a partnership with the Department of Homeland Security, has been elevated and expanded by the attorney general with a mandate to target cartels and transnational criminal organizations to eliminate human smuggling and trafficking networks operating in Mexico, Guatemala, El Salvador, Honduras, Panama, and Colombia that impact public safety and the security of our borders. To date, JTFA’s work has resulted in more than 355 domestic and international arrests of leaders, organizers, and significant facilitators of alien smuggling; more than 315 U.S. convictions; more than 260 significant jail sentences imposed; and forfeitures of substantial assets.

The ECT program is a partnership between the Justice Department’s Criminal Division and ICE HSI and focuses on human smuggling networks that may present national security, public safety risks or grave humanitarian concerns. ECT has dedicated investigative, intelligence, and prosecutorial resources. ECT also coordinates and receives assistance from other U.S. government agencies and foreign law enforcement authorities.

ICE HSI New England led U.S. investigative efforts, working in concert with the ICE HSI Attaché Brasilia, ICE HSI Pittsburgh, Harrisburg, Philadelphia, and the ICE HSI Human Smuggling Unit in Washington, D.C. with substantial assistance from CBP’s National Targeting Center International Interdiction Task Force. The Department of Justice’s Office of International Affairs provided crucial assistance in this matter.

A criminal complaint is merely an allegation. The defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL OSI USA News –

March 29, 2025
MIL-OSI Security: Former Kansas City Man Pleads Guilty to Conspiracy to Commit Bank Fraud

Source: Office of United States Attorneys

KANSAS CITY, Mo. – A former Kansas City, MO man plead guilty in federal court today to conspiring to commit bank fraud against two local financial institutions.

Gerald Humphrey Jr., 30, pleaded guilty before Magistrate Judge Jill A. Morris to one count of conspiracy to commit bank fraud.

By pleading guilty today, Humphrey, Jr. admitted that he knowingly and willfully joined in an agreement to commit bank fraud by defrauding FDIC-insured financial institutions of money. On July 1, 2022, an investigator with a local financial institution contacted FBI Kansas City to report an alleged check fraud scheme in the Kansas City area. The fraud scheme consisted of individuals being recruited via social media to voluntarily provide their debit cards and PIN numbers to the fraudsters. The fraudsters would then deposit fraudulent checks into the customers’ accounts. The investigator determined that similar check card stocks were used, similar dollar values were used on the checks, and the same two individuals, eventually identified, with one of them being the defendant, Gerald Humphrey Jr., were seen in surveillance videos making the deposits. These co-defendants would make cash withdrawals at ATMs, debit card purchases, and transfer money via Cash App. Through its investigation, the FBI was able to determine that two FDIC insured financial institutions in the Kansas City area where being targeted as victims of this scheme. The evidence discovered in the investigation indicated the scheme began in April 2022 and continued until at least September 2022 with the actual loss incurred being approximately $90,000 with an intended loss of approximately $400,000.

Under federal statutes, Humphrey Jr. is subject to a sentence of up to 30 years in federal prison without parole. The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentence of the defendant will be determined by the court based upon the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

This case is being prosecuted by Assistant U.S. Attorney David Ketchmark. It was investigated by the Federal Bureau of Investigation with the assistance of criminal investigators from the two financial institutions.

MIL Security OSI –

March 29, 2025
MIL-OSI Security: Woburn Men Sentenced to Prison for Migrant Smuggling Conspiracy

Source: Office of United States Attorneys

BOSTON – Father and son owners of two Woburn, Mass. restaurants, Taste of Brazil—Tudo Na Brasa and The Dog House Bar and Grill, were sentenced yesterday in federal court in Boston for conspiring to smuggle migrants into the United States from Brazil. One defendant was also sentenced for money laundering conspiracy.

Jesse James Moraes, 67, and Hugo Giovanni Moraes, 45, both of Woburn, were sentenced by U.S. District Court Judge Allison D. Burroughs. Jesse Moraes was sentenced to eight months in prison to be followed by three years of supervised release; and Hugo Moraes was sentenced to five months in prison to be followed by three years of supervised release, with the first five months in home confinement, and ordered to pay a $15,000 fine. In November 2024, the defendants pleaded guilty to conspiring to encourage and induce an alien to come to, enter, and reside in the United States, knowing or in reckless disregard of the fact that such coming to, entry, or residence is or will be in violation of law, for commercial advantage or private financial gain. Jesse Moraes also pleaded guilty to conspiracy to launder the proceeds of the migrant smuggling conspiracy.

The conspiracy involved recruiting undocumented migrants in Brazil to come to the United States through Mexico without authorization in exchange for fees of between $12,000 and $22,000 per person. The migrants were encouraged to make fraudulent claims of asylum and familial relationship (e.g., parent and minor child) in the United States and were given fraudulent information about U.S. points of contact to give to immigration authorities when they were caught in the United States. Once migrants were in the United States, Jesse Moraes and Hugo Moraes helped them secure long-term housing, including in apartments owned by relatives of Hugo Moraes. The defendants arranged for some of the migrants to work at Tudo Na Brasa/Taste of Brazil and The Dog House Bar and Grill and paid the migrants either entirely or partly in cash unless and until the migrants obtained identification documents, at which point they would be paid at least partly by check.

The defendants encouraged the migrants working for them to obtain false identification documents and referred them to a co-defendant, Marcos Chacon Gil, a/k/a Marquito,” to obtain such false identification documents. The co-conspirators agreed that some of the migrants could pay off some of their smuggling fee once they reached the United States, which they did by direct payment, having their wages withheld, or by collection by relatives and other associates within and outside the United States.

The money laundering conspiracy to which Jesse Moraes was sentenced involved transferring funds into and out of the United States with the intent to promote the migrant smuggling conspiracy and conducting financial transactions with the proceeds of the smuggling conspiracy that were designed to conceal the ownership and control of the proceeds.

United States Attorney Leah B. Foley; Michael J. Krol, Acting Special Agent in Charge for Homeland Security Investigations in New England; Jonathan Mellone, Special Agent in Charge of the Department of Labor, Office of Inspector General; Thomas Demeo, Acting Special Agent in Charge of the Internal Revenue Service’s Criminal Investigations in Boston; and Woburn Police Chief Robert F. Rufo, Jr., made the announcement today. Valuable assistance in the investigation was provided by Immigration and Customs Enforcement, Enforcement and Removal Operations and the Norwood Police Department. Assistant U.S. Attorneys James D. Herbert, Kelly Lawrence and Samuel R. Feldman of the Criminal Division prosecuted the case.

MIL Security OSI –

March 29, 2025
MIL-OSI USA News: Adjusting Imports of Automobiles and Automobile Parts into the United States

Source: The White House

class=”has-text-align-center”>BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION

1. On February 17, 2019, the Secretary of Commerce (Secretary) transmitted to me a report on his investigation into the effects of imports of passenger vehicles (sedans, sport utility vehicles, crossover utility vehicles, minivans, and cargo vans) and light trucks (collectively, automobiles) and certain automobile parts (engines and engine parts, transmissions and powertrain parts, and electrical components) (collectively, automobile parts) on the national security of the United States under section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862) (section 232). Based on the facts considered in that investigation, the Secretary found and advised me of his opinion that automobiles and certain automobile parts are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States.

2. In Proclamation 9888 of May 17, 2019 (Adjusting Imports of Automobiles and Automobile Parts Into the United States), I concurred with the Secretary’s finding in the February 17, 2019, report that automobiles and certain automobile parts are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States. I also directed the United States Trade Representative (Trade Representative), in consultation with other executive branch officials, to pursue negotiation of agreements to address the threatened impairment of the national security of the United States with respect to imported automobiles and certain automobile parts from the European Union, Japan, and any other country the Trade Representative deems appropriate.

3. The Trade Representative’s negotiations did not lead to any agreements of the type contemplated by section 232.

4. In Proclamation 9888, I also directed the Secretary to monitor imports of automobiles and certain automobile parts and inform me of any circumstances that, in the Secretary’s opinion, might indicate the need for further action under section 232 with respect to such imports.

5. The Secretary has informed me that, since the February 17, 2019, report, the national security concerns remain and have escalated. The COVID-19 pandemic exposed critical vulnerabilities and choke points in global supply chains, undermining our ability to maintain a resilient domestic industrial base. In recent years, American-owned automotive manufacturers have experienced numerous supply chain challenges, including material and parts input shortages, labor shortages and strikes, and electrical-component shortages. Meanwhile, foreign automotive industries, propelled by unfair subsidies and aggressive industrial policies, have grown substantially. Today, only about half of the vehicles sold in the United States are manufactured domestically, a decline that jeopardizes our domestic industrial base and national security, and the United States’ share of worldwide automobile production has remained stagnant since the February 17, 2019, report. The number of employees in the domestic automotive industry has also not improved since the February 17, 2019, report.

6. I am also advised that agreements entered into before the issuance of Proclamation 9888, such as the revisions to the United States-Korea Free Trade Agreement and the United States-Mexico-Canada Agreement (USMCA), have not yielded sufficient positive outcomes. The threat to national security posed by imports of automobiles and certain automobile parts remains and has increased. Investments resulting from other efforts, such as legislation, have also not yielded sufficient positive outcomes to eliminate the threat to national security from such imports.

7. After considering the current information newly provided by the Secretary, among other things, I find that imports of automobiles and certain automobile parts continue to threaten to impair the national security of the United States and deem it necessary and appropriate to impose tariffs, as defined below, to adjust imports of automobiles and certain automobile parts so that such imports will not threaten to impair national security.

8. To ensure that the imposition of tariffs on automobiles and certain automobile parts in this proclamation are not circumvented and that the purpose of this action to eliminate the threat to the national security of the United States by imports of automobiles and certain automobile parts is not undermined, I also deem it necessary and appropriate to establish processes to identify and impose tariffs on additional automobile parts, as further described below.

9. Section 232 provides that, in this situation, the President shall take such other actions as the President deems necessary to adjust the imports of the relevant article so that such imports will not threaten to impair national security.

10. Section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), authorizes the President to embody in the Harmonized Tariff Schedule of the United States (HTSUS) the substance of statutes affecting import treatment, and actions thereunder, including the removal, modification, continuance, or imposition of any rate of duty or other import restriction.

NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by the authority vested in me by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code; section 604 of the Trade Act of 1974, as amended; and section 232 of the Trade Expansion Act of 1962, as amended, do hereby proclaim as follows:
(1) Except as otherwise provided in this proclamation, all imports of articles specified in Annex I to this proclamation or in any subsequent annex to this proclamation, as set out in a subsequent notice in the Federal Register, shall be subject to a 25 percent tariff with respect to goods entered for consumption or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on April 3, 2025, for automobiles, and on the date specified in the Federal Register for automobile parts, but no later than May 3, 2025, and shall continue in effect, unless such actions are expressly reduced, modified, or terminated. The above ad valorem tariff is in addition to any other duties, fees, exactions, and charges applicable to such imported automobiles and certain automobile parts articles.
(2) For automobiles that qualify for preferential tariff treatment under the USMCA, importers of such automobiles may submit documentation to the Secretary identifying the amount of U.S. content in each model imported into the United States. “U.S. content” refers to the value of the automobile attributable to parts wholly obtained, produced entirely, or substantially transformed in the United States. Thereafter, the Secretary may approve imports of such automobiles to be eligible to apply the ad valorem tariff of 25 percent in clause (1) of this proclamation exclusively to the value of the non-U.S. content of the automobile. The non-U.S. content of the automobile shall be calculated by subtracting the value of the U.S. content in an automobile from the total value of the automobile.
(3) If U.S. Customs and Border Protection (CBP) determines that the declared value of non-U.S. content of an automobile, as described in clause (2) of this proclamation, is inaccurate due to an overstatement of U.S. content, the 25 percent tariff shall apply to the full value of the automobile, regardless of the actual U.S. content of the automobile. In addition, the 25 percent tariff shall be applied retroactively (from April 3, 2025, to the date of the inaccurate overstatement) and prospectively (from the date of the inaccurate overstatement to the date the importer corrects the overstatement, as verified by CBP) to the full value of all automobiles of the same model imported by the same importer. This clause does not apply to or otherwise affect any other applicable fees or penalties.
(4) The ad valorem tariff of 25 percent described in clause (1) of this proclamation shall not apply to automobile parts that qualify for preferential treatment under the USMCA until such time that the Secretary, in consultation with CBP, establishes a process to apply the tariff exclusively to the value of the non-U.S. content of such automobile parts and publishes notice in the Federal Register.
(5) For avoidance of doubt, clause (4) of this proclamation does not apply to automobile knock-down kits or parts compilations. Clause (4) of this proclamation applies only to individual automobile parts as defined by Annex I to this proclamation that otherwise meet the requirements of clause (4) of this proclamation.
(6) The Secretary, in consultation with the United States International Trade Commission and CBP, shall determine the modifications necessary to the HTSUS to effectuate this proclamation and shall make such modifications to the HTSUS through notice in the Federal Register.
(7) Within 90 days of the date of this proclamation, the Secretary shall establish a process for including additional automobile parts articles within the scope of the tariffs described in clause (1) of this proclamation. In addition to inclusions made by the Secretary, this process shall provide for including additional automobile parts articles at the request of a domestic producer of an automobile or automobile parts article, or an industry association representing one or more such producers, where the request establishes that imports of additional automobile parts articles have increased in a manner that threatens to impair the national security or otherwise undermines the objectives set forth in any proclamation issued on the basis of the Secretary’s February 17, 2019, report or any additional information submitted to the President under clause (3) of Proclamation 9888 or clause (9) of this proclamation. When the Secretary receives such a request from a domestic producer or industry association, the Secretary, after consultation with the United States International Trade Commission and CBP, shall issue a determination regarding whether to include the articles within 60 days of receiving the request. Any additional automobile parts articles that the Secretary has determined to be included within the scope of the tariffs described in clause (1) of this proclamation shall be so included on or after 12:01 a.m. eastern daylight time the day after a notice in the Federal Register describing the determination of the Secretary. The notice in the Federal Register shall be made as soon as practicable but no later than 14 days after the Secretary’s determination.
(8) Any automobile or automobile part, except those eligible for admission under “domestic status” as defined in 19 CFR 146.43, that is subject to the duty imposed by this proclamation and that is admitted into a United States foreign trade zone on or after the effective date of this proclamation, in accordance with clause (1) of this proclamation, must be admitted as “privileged foreign status” as defined in 19 CFR 146.41, and will be subject upon entry for consumption to any ad valorem rates of duty related to the classification under the applicable HTSUS subheading.
(9) The Secretary shall continue to monitor imports of automobiles and automobile parts. The Secretary also shall, from time to time, in consultation with any senior executive branch officials the Secretary deems appropriate, review the status of such imports with respect to national security. The Secretary shall inform the President of any circumstances that, in the Secretary’s opinion, might indicate the need for further action by the President under section 232. The Secretary shall also inform the President of any circumstance that, in the Secretary’s opinion, might indicate that the increase in duty rate provided for in this proclamation is no longer necessary.
(10) No drawback shall be available with respect to the duties imposed pursuant to this proclamation.
(11) The Secretary may issue regulations and guidance consistent with this proclamation, including to address operational necessity.
(12) CBP may take any necessary or appropriate measures to administer the tariffs imposed by this proclamation.
(13) Any provision of previous proclamations and Executive Orders that is inconsistent with the actions taken in this proclamation is superseded to the extent of such inconsistency.
IN WITNESS WHEREOF, I have hereunto set my hand this twenty-sixth day of March, in the year of our Lord two thousand twenty-five, and of the Independence of the United States of America the two hundred and forty-ninth.

MIL OSI USA News –

March 29, 2025
MIL-OSI Security: U.S. Attorney’s Office Files More Than 250 New Immigration Cases This Week in the Western District of Texas

Source: Office of United States Attorneys

SAN ANTONIO – Acting United States Attorney Margaret Leachman for the Western District of Texas announced today, that federal prosecutors in the district filed 261 immigration and immigration-related criminal cases from March 21 through March 27.

Among the new cases, Guatemalan national Noe Mardoquero Calel-Cabinal was pulled over March 24 on Highway 85 near Dilley by a Texas Department of Public Safety trooper. The area is known to be commonly used to smuggle undocumented aliens further into the U.S. from Mexico. A U.S. Border Patrol agent stopped to assist with the traffic stop. Calel-Cabinal allegedly presented a Guatemalan identification card, did not have proper immigration documentation to be in the U.S. legally, and could not provide a reason for being in the area that aligned with his travel route. A criminal complaint alleges that Calel-Cabinal later confessed to being in the area to pick up and transport four illegal aliens to San Antonio and would be paid $1,300 per illegal alien. A review of his cell phone allegedly confirmed Calel-Cabinal’s confession and he was charged with one count of conspiracy to transport illegal aliens.

In El Paso, Mexican national Luis Francisco Alarcon-Sanchez allegedly stated at the Paso Del Norte Port of Entry on March 22 that he was a U.S. citizen born in Albuquerque, New Mexico and was returning to Albuquerque to visit his ex-wife and mother. The U.S. Customs and Border Protection officer received a system alert for prior deport and further procedures confirmed that Alarcon-Sanchez had been previously removed on May 16, 2024. A criminal complaint alleges that Alarcon-Sanchez admitted he is affiliated with the Paisas Gang. In addition to the 2024 removal, records show he was removed from Texas to Mexico in 2015, 2003, and in 1998 following an aggravated felony conviction.

Mexican national Jesus Barraza-Frias was also arrested in El Paso. He was allegedly located less than a mile east of the Bridge of the Americas Port of Entry without immigration documents allowing him to be or remain in the U.S. legally. Barraza-Frias was just removed from the U.S. on Nov. 27, 2024, after being convicted for illegal re-entry in El Paso. He now has three total removals as well as a domestic violence/harassment conviction in Lamar, Colorado from 2007, a 2002 disorderly conduct conviction as a juvenile in Lamar, and a sexual assault conviction as a juvenile in Prowers County, Colorado from 2001.

In Del Rio, Honduran national Carlos Alejandro Varela-Avila was arrested March 20 and charged with re-entry after deportation from the United States. A criminal complaint alleges that Varela-Avila was previously deported on April 16, 2024 through Alexandria, Louisiana and has five prior removals and a criminal record that includes aggravated assault with a deadly weapon.

Another Honduran national, Alba Jeannet Medina-Chavez, was arrested March 23 near Del Rio after being previously deported Dec. 29, 2014 through Phoenix, Arizona. A criminal complaint reflects five prior removals for Medina-Chavez as well as a criminal history that includes child cruelty, assault with a deadly weapon, false imprisonment, and assault against an elderly or disabled individual.

Amir Hassan Riley was also arrested March 23 near Eagle Pass. According to a criminal complaint, U.S. Border Patrol agents inspected a vehicle drive by Riley at a Highway 57 checkpoint and allegedly located three illegal aliens from Honduras and Yemen concealed in the rear seat and trunk of the vehicle. Further investigation allegedly led to the discovery of two more illegal aliens at a motel. The complaint alleges that Riley said he responded to a job post on Facebook and coordinated to pick up people at pinned locations in Eagle Pass. Riley is charged with one count of conspiring with others to transport illegal aliens within the United States.

A Mexican national is charged in Pecos with illegal re-entry. Ibrahim Villanueva was arrested by Presidio Border Patrol agents after being previously removed on June 6, 2024 through El Paso. Villanueva’s criminal and immigration history indicate four total deportations and a 2007 felony conviction for aggravated sexual assault of a child in Odessa.

In Austin, Mexican national Cesario Bueno-Figueroa was arrested March 23 and charged with driving while intoxicated and leaving the scene of a crash. If convicted, criminal records show that this would be at least his third DWI. He previously served 18 months in jail after he was arrested for driving under the influence of liquor in 2010, and 65 days for the same charge in 2018. Bueno-Figueroa has also served 30 days in jail after being arrested in 2012 for illegal entry and 97 days in 2018 for illegal re-entry. Bueno-Figueroa is federally charged with illegal re-entry.

These cases were referred or supported by federal law enforcement partners, including Homeland Security Investigations (HSI), Immigration and Customs Enforcement’s Enforcement and Removal Operations (ICE ERO), U.S. Border Patrol, the Drug Enforcement Administration (DEA), the Federal Bureau of Investigation (FBI), the U.S. Marshals Service (USMS), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), with additional assistance from state and local law enforcement partners.

The U.S. Attorney’s Office for the Western District of Texas comprises 68 counties located in the central and western areas of Texas, encompasses nearly 93,000 square miles and an estimated population of 7.6 million people. The district includes three of the five largest cities in Texas—San Antonio, Austin and El Paso—and shares 660 miles of common border with the Republic of Mexico.

These cases are 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).

Indictments and criminal complaints are merely allegations and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

###

MIL Security OSI –

March 29, 2025
MIL-OSI Security: Greensboro Man Sentenced to 10 Years for Drug Offense

Source: Office of United States Attorneys

GREENSBORO – A Greensboro, North Carolina man was sentenced yesterday in Winston-Salem to 10 years in prison after pleading guilty to conspiracy to distribute methamphetamine, announced Acting United States Attorney Randall S. Galyon of the Middle District of North Carolina (MDNC).

MICHAELL HUMBERTO GUTIERREZ, age 31, was sentenced to 120 months of imprisonment plus 5 years of supervised release by the Honorable Loretta C. Biggs, Senior United States District Judge in the United States District Court for the MDNC. In addition to prison and supervision, GUTIERREZ was ordered to forfeit a Glock 9mm handgun, a Romarm Micro Draco 7.62x39mm handgun, a Romarm 5.45x39mm AK-style rifle, and a Hi-Point .380 handgun.

According to court records, GUTIERREZ was a member of a California-based drug trafficking organization and distributed methamphetamine, fentanyl, and cocaine in North Carolina. From December 2023 through February 2024, he and his co-defendant coordinated the shipment of large amounts of narcotics from California to Greensboro for GUTIERREZ to sell. Unbeknownst to GUTIERREZ, he was regularly communicating with an undercover agent about the sale of these drugs, as well as firearms. On January 24, 2024, GUTIERREZ was involved in a single-car accident after which law enforcement found a bag containing 980 grams of methamphetamine GUTIERREZ had hidden as he ran from the scene. On February 23, 2024, law enforcement executed a search warrant on GUTIERREZ’s residence and found methamphetamine, fentanyl, and cocaine, as well as a loaded assault-style pistol, a loaded semi-automatic handgun, and a loaded semi-automatic rifle, among other contraband.

GUTIERREZ pleaded guilty on October 8, 2024, to possession with intent to distribute 50 grams or more of a mixture and substance containing a detectable amount of methamphetamine, in violation of 21 U.S.C. § 841(a)(1) and (b)(1)(B).

“Fentanyl and methamphetamine continue to devastate communities in the Middle District of North Carolina,” said Acting United States Attorney Randall S. Galyon. “We are dedicated to holding those responsible for distributing these drugs accountable in the court of law.”

“This sentencing is another step forward in our ongoing mission to protect our communities from the devastating impact of drug trafficking,” said Cardell T. Morant, Special Agent in Charge of U.S. Homeland Security Investigations Charlotte, which oversees North and South Carolina. “By dismantling this criminal network and seizing dangerous drugs like methamphetamine, fentanyl, and cocaine, along with numerous firearms, HSI and its partners are making our neighborhoods safer and sending a clear message that these illegal activities will not be allowed to thrive.”

The case was investigated by Guilford County Sheriff’s Office, Greensboro Police Department, and Homeland Security Investigations. The case was prosecuted by MDNC Assistant United States Attorney Laura Jeanne Dildine.

MIL Security OSI –

March 29, 2025
MIL-OSI Security: Former EDD Employee Sentenced to 66 Months for Mail Fraud and Bribery Scheme

Source: Office of United States Attorneys

SAN DIEGO – Regina Brice, a former employee of the California Employment Development Department, was sentenced in federal court today to 66 months in prison for using her position to file $858,339 in fraudulent unemployment claims, effectively stealing money that was intended to give economic relief to people impacted by the pandemic.

According to court documents, Brice was employed by the EDD since 2010. During the pandemic, she was responsible for processing COVID-related unemployment claims. However, between July 2020 and May 2021, Brice exploited her employee access at EDD to manipulate and file fraudulent unemployment claims for her co-conspirators in exchange for thousands of dollars in bribes. These co-conspirators included California prison inmates whom she instructed on how to bypass the system’s fraud checking software to obtain the money.

“This defendant turned her back on the oath of her office and those she was supposed to help during a once-in-a-century pandemic,” said Acting U.S. Attorney Andrew Haden. “Today she is being held accountable for her greed.”

“Former California Employment Development Department (EDD) Employment Program Representative Regina Brice filed fraudulent and manipulated unemployment insurance (UI) claims in exchange for kickbacks, diverting vital taxpayer resources away from unemployed American workers who lost their jobs due to the COVID-19 pandemic,” said Quentin Heiden, Special Agent-in-Charge, Western Region, U.S. Department of Labor, Office of Inspector General (DOL-OIG). “Brice violated the public trust afforded to her as an EDD employee to enrich herself and others. We will continue to work with our law enforcement partners to safeguard the integrity of the UI program for those who need it. This sentencing demonstrates DOL-OIG’s commitment to root out waste, fraud, and abuse in DOL programs.”

DHS Inspector General Joseph V. Cuffari, Ph.D., said, “Regina Brice defrauded government programs meant to help Americans at the height of the COVID-19 pandemic. DHS OIG will continue to prioritize pandemic-related fraud investigations and work with our law enforcement partners to bring perpetrators to justice. I appreciate the continued partnership between DHS OIG and the Department of Labor OIG in bringing this case to a close.”

“Today’s sentencing marks a significant victory for justice and accountability,” said Matt Shields, Inspector in Charge of the U.S. Postal Inspection Service in Los Angeles Division. “The exploitation of vulnerable individuals’ personal information for nearly a million dollars in fraudulent gains, facilitated by an EDD employee’s corruption, is a betrayal of public trust. I commend the relentless efforts of our inspectors and collaboration with the Department of Labor OIG and Department of Homeland Security OIG in bringing this case to a close and ensuring that such misconduct results in severe consequences.”

Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at (866) 720-5721 or via the NCDF Web Complaint Form at https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

This case is being prosecuted by Assistant U.S. Attorney Ronald Sou.

DEFENDANT Case Number 23-CR-2082-RBM

Regina Brice Age: 43 San Diego, CA

SUMMARY OF CHARGES

Mail Fraud – Title 18, U.S.C., Section 1341

Maximum penalty: Twenty years in prison and $250,000 fine

INVESTIGATING AGENCIES

U.S. Department of Labor – Office of the Inspector General

Department of Homeland Security – Office of the Inspector General

United States Postal Inspector Service

California Employment Development Department – Investigation Division

MIL Security OSI –

March 29, 2025
MIL-OSI USA: Florida sex offender sentenced to 15 years for distribution of child sexual abuse material

Source: US Immigration and Customs Enforcement

JACKSONVILLE, Fla. – A Florida man and previously convicted child predator was sentenced March 26 to 15 years in federal prison for distributing imagery and video depicting child sexual abuse on a social media application following a Northeast Florida Interagency Child Exploitation and Peoples Trafficking Task Force investigation that included U.S. Immigration and Customs Enforcement.

Nicholes Scott Newman, 42, of Hilliard, was also ordered to serve a 10-year term of supervised release and register as a sex offender.

“This predator’s prior conviction did not deter him from continuing to victimize children by distributing vile child sexual abuse material,” said ICE Homeland Security Investigations Jacksonville Assistant Special Agent in Charge Tim Hemker. “The men and women of HSI and the Northeast Florida INTERCEPT Task Force will continue to work tirelessly to dismantle these networks and keep our communities safe.”

According to court records, in June 2024, a detective acting in an undercover capacity was monitoring a social media messaging group chat where Newman was distributing CSAM images and videos to others in the group. The undercover detective communicated directly with Newman who sent additional videos and images containing CSAM to the undercover detective.

In 2014, Newman was convicted in Pinellas County for 20 counts of possession of CSAM and was sentenced to Florida State Prison. He was released on Feb. 6, 2019.

This Northeast Florida INTERCEPT Task Force case was investigated by ICE Homeland Security Investigations Jacksonville, the Nassau County Sheriff’s Office, the Clay County Sheriff’s Office, the Jacksonville Sheriff’s Office, and the. This case was prosecuted by Assistant U. S. Attorney John Cannizzaro.

MIL OSI USA News –

March 29, 2025

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