Category: Finance

  • MIL-OSI Africa: Nguya Floating Liquefied Natural Gas (FLNG) to Sail Away from China in September 2025

    Source: Africa Press Organisation – English (2) – Report:

    BRAZZAVILLE, Congo (Republic of the), March 25, 2025/APO Group/ —

    Nguya Floating Liquefied Natural Gas (FLNG) is set to sail away from China in September 2025, Federico Ricco, Development Director at Congo LNG, said at the Congo Energy & Investment Forum 2025 during the FLNG Developments in the Republic of Congo session.

    The addition of the Nguya FLNG vessel is part of the second phase of the Congo LNG project – which began operating in December 2023 – and is expected to increase the project’s production capacity by 2.4 million tons per annum (mtpa).

    “The vessel is currently under construction in China and will allow us to increase production to 3 million tons per year,” Ricco stated.

    As the operator of Congo LNG, Eni has been at the forefront of gas monetization in the Republic of Congo, first with the development of the Centrale Électrique du Congo gas-to-power plant in 2011 and later through the implementation of the Congo LNG project. Ricco explained that “the first phase was completed within 12 months to enable LNG exports, which is remarkably fast.”

    Echoing Ricco’s comments on the speed of FLNG deployment, Marien Ibiaho, Area Sales Manager for Europe & Africa at NOV, emphasized that, “Many LNG projects involve large-scale infrastructure and extensive construction. The advantage of FLNG is that it enables rapid gas monetization. The delivery timeline is fast – less than two years.”

    For the Republic of Congo, FLNG has played a key role in positioning the country as an LNG exporter. Looking ahead, Ricco emphasized the need for continued exploration, greater collaboration and leveraging LNG to further strengthen Congo’s industrial capacity.

    “We must keep exploring, work alongside other operators to maximize value in Congo, and ensure that LNG enhances the country’s industrial growth,” Ricco said. Expanding on his comments, Ibiaho stated, “For FLNG projects to succeed, the approach must be built on partnerships, not just a client-service provider relationship.”

    Dr. Tsoumou-Gavouka Communications and Public Relations Advisor to the Director General, SNPC underscored the importance of partnerships in Congo’s LNG development, suggesting that Eni collaborate with Chinese oil company Wing Wah, which is preparing to launch its own LNG project.

    The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.

    MIL OSI Africa

  • MIL-OSI Security: Richland County Man Sentenced for Drug Smuggling Conspiracy

    Source: Office of United States Attorneys

    COLUMBIA, S.C. — Jocobia Dozier-Eaddy, 37, of Columbia, has been sentenced to more than three years in federal prison for conspiracy to possess with the intent to distribute cocaine, crack cocaine, fentanyl, and marijuana.

    Evidence obtained in the investigation revealed that Dozier-Eaddy and others were responsible for shipping and selling cocaine and counterfeit oxycodone pills made with fentanyl and shipped through the U.S. Postal Service from Arizona into South Carolina. During this investigation agents seized marijuana, cocaine, crack cocaine, and counterfeit oxycodone pills. Agents were able to identify Dozier-Eaddy following his sale of counterfeit pills to an undercover agent. During the sale, Dozier-Eaddy sold the undercover agent 200 counterfeit pills laced with fentanyl.

    Following his identification, the agents learned that Dozier-Eaddy called the USPS to inquired about a package that had been seized by them. The package contained two individually wrapped packages containing over 900 grams of cocaine and 5 grams of crack cocaine. The package was supposed to be delivered that day. Dozier-Eaddy confirmed the package seized was the correct package and gave the correct tracking number, his cellular telephone number, and the correct address for delivery. During the time of this conspiracy, Dozier-Eaddy also wired money to the supplier of the drugs in Arizona who was arrested by Homeland Security Investigations in a separate investigation in Arizona.

    United States District Mary Geiger Lewis sentenced Dozier-Eaddy to 46 months imprisonment, to be followed by a two-year term of court-ordered supervision.  There is no parole in the federal system.

    This prosecution is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    This case was investigated by Drug Enforcement Administration, U.S. Postal Inspection Service, and Homeland Security Investigations. Assistant U.S. Attorney William K. Witherspoon is prosecuting the case.

    ###

    MIL Security OSI

  • MIL-OSI Security: Clairton Resident Pleads Guilty to Wire Fraud Charges

    Source: Office of United States Attorneys

    PITTSBURGH, Pa – A resident of Clairton, Pennsylvania, pleaded guilty in federal court to charges of wire fraud, Acting United States Attorney Troy Rivetti announced today.

    Tracey Smith, age 56, pleaded guilty to four counts before United States District Judge Cathy Bissoon.

    In connection with the guilty plea, the court was advised that in 2023, Smith was hired as a comptroller at a Pittsburgh engineering firm where she embezzled company funds for her personal use by issuing herself additional payroll checks to herself, making unauthorized credit card transactions with company credit cards, and by falsifying expense reports, all totaling approximately $673,556.80 in embezzled funds.

    Judge Bissoon scheduled sentencing for July 17, 2025. The law provides for a total sentence of 20 years in prison, a fine of $250,000, or both as to each count. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offense and the prior criminal history, if any, of the defendant.

    Assistant United States Attorney Gregory C. Melucci is prosecuting this case on behalf of the government.

    The Federal Bureau of Investigation conducted the investigation that led to the prosecution of Smith.

    MIL Security OSI

  • MIL-OSI Security: A Resident of Both Pittsburgh and Chicago Pleads Guilty to Possessing Child Sexual Abuse Material

    Source: Office of United States Attorneys

    PITTSBURGH, Pa. – A resident of both Pittsburgh, Pennsylvania and Chicago, Illinois, pleaded guilty in federal court to a charge of violating federal law regarding the sexual exploitation of children, Acting United States Attorney Troy Rivetti announced today.

    Ashok Panigrahy, age 53, pleaded guilty to one count before United States District Judge Christy Criswell Wiegand.

    In connection with the guilty plea, the court was advised that from on or about November 21 through November 22, 2022, in the Western District of Pennsylvania, Panigrahy knowingly possessed images and videos depicting the sexual exploitation of a minor.

    Judge Wiegand scheduled sentencing for July 17, 2025, at 1:00 p.m. The law provides for a total sentence of not more than 20 years in prison, a fine of $250,000.00, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offense and the prior criminal history, if any, of the defendant.

    Assistant United States Attorney Heidi M. Grogan is prosecuting this case on behalf of the government.

    The Homeland Security Investigations (Pittsburgh and Chicago) conducted the investigation that led to the prosecution of Panigrahy.

    This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by the United States Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state, and local resources to locate, apprehend, and prosecute individuals, who sexually exploit children, and to identify and rescue victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc.

    MIL Security OSI

  • MIL-OSI Security: Shiprock Man Charged with Assault After Shots Fired at Pedestrian

    Source: Office of United States Attorneys

    ALBUQUERQUE – A Shiprock man has been charged with assault with a dangerous weapon after he allegedly fired multiple shots at an unsuspecting pedestrian.

    According to court records, on March 13, 2025, the Navajo Nation Police responded to a shots-fired report. Isaiah Benally, 33, an enrolled member of the Navajo Nation, allegedly fired multiple shots at a passerby who escaped unharmed despite bullets striking nearby. Benally was taken into custody by the Navajo Nation SWAT team after a brief standoff. Inside his residence, officers found body armor and firearm accessories. Benally has a history of arrests for aggravated battery and assault.

    Benally will remain in custody pending trial, which has not been set. If convicted of the current charges, Benally faces up to 10 years in prison.

    Acting U.S. Attorney Holland S. Kastrin and Raul Bujanda, Special Agent in Charge of the FBI Albuquerque Field Office, made the announcement today.

    The Farmington Resident Agency of the FBI Albuquerque Field Office investigated this case with the assistance of the Navajo Police Department and Department of Criminal Investigations. Assistant U.S. Attorney Brittany DuChaussee is prosecuting the case.

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

    MIL Security OSI

  • MIL-OSI Security: Defense Contractor MORSECORP, Inc. Agrees to Pay $4.6 Million to Settle Cybersecurity Fraud Allegations

    Source: Office of United States Attorneys

    BOSTON – MORSECORP, Inc. (MORSE), of Cambridge, Mass., has agreed to pay $4.6 million to resolve allegations that MORSE violated the False Claims Act by failing to comply with cybersecurity requirements in its contracts with the Departments of the Army and Air Force.  

    The settlement resolves allegations that MORSE submitted false or fraudulent claims for payment on contracts with the Departments of the Army and Air Force, and that those claims were false or fraudulent because Morse knew it had not complied with those contracts’ cybersecurity requirements. As part of the settlement, MORSE admitted, acknowledged and accepted responsibility for the following facts:

    • From January 2018 to September 2022, MORSE used a third-party company to host MORSE’s emails without requiring and ensuring that the third party met security requirements equivalent to the Federal Risk and Authorization Management Program Moderate baseline and complied with the Department of Defense’s requirements for cyber incident reporting, malicious software, media preservation and protection, access to additional information and equipment necessary for forensic analysis and cyber incident damage assessment;
    • The contracts required that MORSE implement all cybersecurity controls in National Institute of Standards and Technology (NIST) Special Publication (SP) 800-171, but from January 2018 to February 2023, MORSE had not fully implemented all those controls, including controls that, if not implemented, could lead to significant exploitation of the network or exfiltration of controlled defense information and controls that could have a specific and confined effect on the security of the network and its data;
    • From January 2018 to January 2021, despite the contracts’ system security plan requirement, MORSE did not have a consolidated written plan for each of its covered information systems describing system boundaries, system environments of operation, how security requirements are implemented and the relationships with or connections to other systems;
    • In January 2021, MORSE submitted to the Department of Defense a score of 104 for its implementation of the NIST SP 800-171 security controls. That score was near the top of the possible score range from -203 to 110. In July 2022, a third-party cybersecurity consultant notified MORSE that its score was actually -142. MORSE did not update its score in the Department of Defense reporting system until June 2023—three months after the United States served MORSE with a subpoena concerning its cybersecurity practices.

    “Federal contractors must fulfill their obligations to protect sensitive government information from cyber threats,” said United States Attorney Leah B. Foley. “We will continue to hold contractors to their commitments to follow cybersecurity standards to ensure that federal agencies and taxpayers get what they paid for, and make sure that contractors who follow the rules are not at a competitive disadvantage.”  

    “We are pleased with today’s settlement, which further demonstrates the resolve of the Department of the Army Criminal Investigation Division and our law enforcement partners to protect and defend the assets of the United States Army and Department of Defense,” said Special Agent in Charge Keith K. Kelly, Department of the Army Criminal Investigation Division Fraud Field Office. “We’re committed to protecting the warfighter and maintaining the Army’s operational readiness while holding those who engage in such acts accountable.”

    “Failure to implement cybersecurity requirements can have devastating consequences, leaving sensitive DoD data vulnerable to cyber threats and malicious actors,” said Special Agent in Charge William W. Richards of the Air Force Office of Special Investigations (AFOSI). “AFOSI, alongside our investigative partners and the Department of Justice, will continue to combat fraud affecting the Department of the Air Force and hold those accountable that fail to properly safeguard sensitive defense information.”

    “Protecting the integrity of Department of Defense (DoD) procurement activities is a top priority for the DoD Office of Inspector General’s Defense Criminal Investigative Service (DCIS),” said Special Agent in Charge Patrick J. Hegarty, DCIS Northeast Field Office. “Failing to comply with DoD contract specifications and cybersecurity requirements puts DoD information and programs at risk. We will continue to work with our law enforcement partners and the Department of Justice to investigate allegations of false claims on DoD contracts.”

    The settlement resolves a lawsuit filed under the whistleblower provisions of the False Claims Act, which permit private parties to sue on behalf of the government when they believe that a defendant has submitted false claims for government funds and receive a share of any recovery. The settlement in this case provides for the whistleblower to receive an $851,000 share of the settlement amount. The qui tam case is captioned United States ex rel. Berich v. MORSECORP, Inc., et al., No. 23-cv-10130 (D. Mass.).  

    The settlement announced today was the result of a coordinated effort between the U.S. Attorney’s Office for the District of Massachusetts, the Civil Division’s Commercial Litigation Branch, Fraud Section, with assistance from the Department of the Army Criminal Investigation Division’s Fraud Field Office, the Air Force Office of Special Investigations, DCIS and the General Services Administration Office of Inspector General. The matter was handled by Brian LaMacchia, Chief of the Affirmative Civil Enforcement Unit, Assistant U.S. Attorney Julien Mundele in the U.S. Attorney’s Office and DOJ Senior Trial Counsel Christopher Terranova. 

    MIL Security OSI

  • MIL-OSI: dLocal Announces CFO Transition due to Health Reasons

    Source: GlobeNewswire (MIL-OSI)

    MONTEVIDEO, Uruguay, March 25, 2025 (GLOBE NEWSWIRE) — dLocal (Nasdaq: DLO), a leading cross-border payments platform, announced today that Mark Ortiz will step down from his role as Chief Financial Officer due to an unforeseen health issue that requires attention. The transition will take effect once the company has filed its annual report on Form 20-F including the 2024 annual audited financial statements (and in any event, no later than May 1, 2025).

    The Board of Directors has appointed Jeffrey Brown, who currently serves as VP Finance, to act as interim Chief Financial Officer while it conducts a comprehensive search for a permanent successor.

    “Over the past year, Mark has been instrumental in developing and implementing our financial strategy,” said Pedro Arnt, Chief Executive Officer of dLocal. “The Board and team extend their sincere appreciation for his leadership and contributions, and wholeheartedly support his decision to prioritize his health. We all wish him a full and speedy recovery.”

    Mr. Brown brings extensive financial expertise, having previously held leadership roles at Bank of America, RPX Corporation and more recently as the CFO at Geopagos. “We are confident in Jeff’s ability to guide our finance team during this transition,” added Mr. Arnt.

    Mr. Ortiz will, to the extent possible and permitted by his health, make himself available during the search and transition period as an advisor to the company. “Serving as CFO of dLocal has been an honor. While this is not the timing or circumstance I had envisioned for my departure, my health now requires my full focus. I have the utmost confidence in the leadership team and the company’s strong financial foundation, and I aspire to assist them to ensure a smooth transition. I remain a firm believer in the company’s future.”

    dLocal remains committed to executing its strategic plan and driving long-term value for shareholders. The company will provide further updates as the CFO search process progresses.

    About dLocal

    dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send pay-outs and settle funds globally without the need to manage separate pay-in and pay-out processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.

    Forward-Looking Statements

    This press release contains certain forward-looking statements. These forward-looking statements convey dLocal’s current expectations or forecasts of future events. Forward-looking statements regarding dLocal involve known and unknown risks, uncertainties and other factors that may cause dLocal’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors,” “Forward-Looking Statements” and “Cautionary Statement Regarding Forward-Looking Statements” sections of dLocal’s filings with the U.S. Securities and Exchange Commission. Unless required by law, dLocal undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof.

    Investor Relations Contact:

    investor@dlocal.com 

    Media Contact:

    media@dlocal.com 

    The MIL Network

  • MIL-OSI: Amplify Provides Additional Information on Acquisition of Assets from Juniper Capital

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) today posted a new presentation on its website, providing additional information on its previously announced definitive agreement to acquire Juniper Capital’s upstream Rocky Mountain portfolio companies.

    The presentation, which can be found on the Company’s investor relations page of its website at https://www.amplifyenergy.com/Amplify-Rockies-Transaction-Highlights/, details the expected financial and diversification benefits of the merger and how it is expected to enhance Amplify’s ability to generate long-term shareholder value. Key highlights include:

    • Free cash flow and value accretion:
      • 2025 free cash flow per share projected to increase from $0.50 per share to greater than $0.70 per share1
      • Total proved reserve value projected to increase ~89% from $688 million to $1.3 billion2
    • Greater portfolio flexibility:
      • New Rockies asset base allows Amplify the opportunity to accelerate value creation through portfolio optimization
      • Lower operating cost to improve resiliency of asset base in low or high commodity price environment
    • Organic growth potential:
      • Juniper assets include multi-year inventory of identified, high quality undeveloped drilling locations
      • Proved undeveloped drilling locations adjacent to premier public company operators
    • Meaningful operating synergies:
      • Pro-forma Adjusted EBITDA per BOE expected to increase 40% due to higher oil weighting and lower cost structure3
      • Pro-forma G&A per BOE expected to decrease >20% due to economies of scale4
    • Path to enhance shareholder value:
      • Increased free cash flow and scale, along with expected refinancing, projected to increase liquidity and flexibility
      • Free cash flow provides optionality to reduce leverage and return capital to shareholders

    Amplify also reminds shareholders to vote on the two proposals regarding the merger. The Special Meeting of Shareholders to approve the proposals is scheduled to take place virtually on April 14, 2025, at 9:00 a.m. Central Time. The methods for voting and submitting proxies are described in the distributed proxy materials for the Special Meeting.

    The Board unanimously recommends that shareholders vote “FOR” both proposals. The proposals are critical to the completion of the merger agreement, which the Board has unanimously determined to be in the best interests of the Company and its shareholders.

    Each vote is important, regardless of how many shares owned, and whether or not shareholders expect to attend the Special Meeting. Amplify asks that all shareholders vote as soon as possible “FOR” both proposals, to ensure that their shares are represented at the Special Meeting.

    About Amplify Energy

    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com

    Forward-Looking Statements

    This press release includes “forward-looking statements.” All statements, other than statements of historical fact, included in this press release that addresses activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the Company’s expectations of plans, goals, strategies (including measures to implement strategies), objectives and anticipated results with respect thereto. These statements address activities, events or developments that we expect or anticipate will or may occur in the future, including things such as projections of results of operations, plans for growth, goals, future capital expenditures, competitive strengths, references to future intentions and other such references. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of the Company and its affiliates. Please read the Company’s filings with the Securities and Exchange Commission (the “SEC”), including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

    Cautionary Note on Reserves and Resource Estimates

    The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. Any reserve estimates provided in this press release that are not specifically designated as being estimates of proved reserves may include estimated reserves or locations not necessarily calculated in accordance with, or contemplated by, the SEC’s latest reserve reporting guidelines. You are urged to consider closely the oil and gas disclosures in the Company’s Annual Report on Form 10-K and our other reports and filings with the SEC.

    Important Additional Information Regarding the Mergers Will Be Filed With the SEC.

    In connection with the proposed mergers, the Company has filed a definitive proxy statement. The definitive proxy statement has been sent to the stockholders of record of the Company. The Company may also file other documents with the SEC regarding the mergers. INVESTORS AND SECURITY HOLDERS OF AMPLIFY ARE ADVISED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS, THE PARTIES TO THE MERGERS AND THE RISKS ASSOCIATED WITH THE MERGERS. Investors and security holders may obtain a free copy of the definitive proxy statement and other relevant documents filed by Amplify with the SEC from the SEC’s website at www.sec.gov. Security holders and other interested parties will also be able to obtain, without charge, a copy of the definitive proxy statement and other relevant documents (when available) by (1) directing your written request to: 500 Dallas Street, Suite 1700, Houston, Texas or (2) contacting our Investor Relations department by telephone at (832) 219-9044 or (832) 219-9051. Copies of the documents filed by the Company with the SEC will be available free of charge on the Company’s website at http://www.amplifyenergy.com.

    Participants in the Solicitation.

    Amplify and certain of its respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of Amplify in connection with the transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the definitive proxy statement filed with the SEC. Additional information regarding the Company’s directors and executive officers is also included in Amplify’s Notice of Annual Meeting of Stockholders and 2024 Proxy Statement, which was filed with the SEC on April 5, 2024. These documents are available free of charge as described above.

    Footnotes

    1)   Based on Amplify March 5, 2025 guidance and full year 2025 Juniper forecast at flat pricing; (NYMEX WTI, HH) – $71.00, $3.75. Free cash flow is a non-GAAP measure. Amplify believes that a quantitative reconciliation of such forward-looking information to the most comparable financial measure calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts. A reconciliation of this non-GAAP financial measure would require Amplify to predict the timing and likelihood of future transactions and other items that are difficult to accurately predict. This forward-looking measure, or its probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of the most directly comparable forward-looking GAAP measures is not provided.
    2)   2024 Year End reserves are evaluated at flat pricing: (NYMEX WTI, HH) – $70.00, $3.50.
    3)   Based on Amplify 3Q24 reported results, 3Q24 Juniper unaudited results adjusted for G&A synergies (pro-forma G&A excluding synergies equal to $3.38/Boe).
    4)   Based on Amplify G&A per BOE in 3Q24, assuming $1 MM of incremental G&A post-merger and Juniper production in 3Q24.

    Contacts

    Amplify Energy

    Jim Frew — Senior Vice President and Chief Financial Officer
    (832) 219-9044
    jim.frew@amplifyenergy.com 

    Michael Jordan — Director, Finance and Treasurer
    (832) 219-9051
    michael.jordan@amplifyenergy.com

    FTI Consulting

    Tanner Kaufman / Brandon Elliott / Rose Zu
    amplifyenergy@fticonsulting.com

    The MIL Network

  • MIL-OSI: Evolution Petroleum Announces Upcoming Investor Events

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) announced today that members of the Company’s management team plan to participate in several upcoming events.

    • Water Tower Research Fireside Chat – March 26, 2025
      Evolution will participate in a virtual fireside chat hosted by Water Tower Research (“WTR”) on Wednesday, March 26, 2025, at 2:00 p.m. CT. The event will feature an in-depth conversation with Company management regarding its pending acquisition of non-operated assets in New Mexico, Texas, and Louisiana and the ongoing development activity in the Chaveroo field and the SCOOP/STACK play along with management’s outlook to build value through the asset acquisition market. This event is open to all investors. Registration for the event is available here. Replays of the webcast will also be available after the event.
    • A.G.P.’s Virtual Energy Conference – April 2, 2025
      Management will host one-on-one meetings with institutional investors during A.G.P.’s Virtual Energy Conference on Wednesday, April 2, 2025. Investors interested in scheduling a meeting should contact their A.G.P. representative or the Company’s investor relations contact listed below.
    • 2025 Louisiana Energy Conference – May 27-29, 2025
      Evolution will participate in the 2025 Louisiana Energy Conference, held in New Orleans, Louisiana, from May 27–29, 2025. Management is scheduled to participate in a panel discussion and conduct one-on-one meetings with attending investment professionals. Additional event details and registration information are available at louisianaenergyconference.com.

    Evolution’s latest investor presentation is available on the “Events & Presentations” page of Evolution’s IR website at ir.evolutionpetroleum.com.

    About Evolution Petroleum

    Evolution Petroleum Corporation is an independent energy company focused on maximizing total shareholder returns through the ownership of and investment in onshore oil and natural gas properties in the U.S. The Company aims to build and maintain a diversified portfolio of long-life oil and natural gas properties through acquisitions, selective development opportunities, production enhancements, and other exploitation efforts. Properties include non-operated interests in the following areas: the SCOOP/STACK plays of the Anadarko Basin in Oklahoma; the Chaveroo Oilfield located in Chaves and Roosevelt Counties, New Mexico; the Jonah Field in Sublette County, Wyoming; the Williston Basin in North Dakota; the Barnett Shale located in North Texas; the Hamilton Dome Field located in Hot Springs County, Wyoming; the Delhi Holt-Bryant Unit in the Delhi Field in Northeast Louisiana; as well as small overriding royalty interests in four onshore Texas wells. Visit www.evolutionpetroleum.com for more information.

    Contact

    Investor Relations
    (713) 935-0122
    ir@evolutionpetroleum.com

    The MIL Network

  • MIL-OSI: Draganfly to Host Shareholder Update Call on March 27, 2025

    Source: GlobeNewswire (MIL-OSI)

    Saskatoon, SK, March 25, 2025 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A) (“Draganfly” or the “Company”), an award-winning, industry-leading developer of drone solutions and systems, announced today that it will host a shareholder update call on March 27th, 2025, at 5:30 PM EST.

    Draganfly CEO Cameron Chell will lead the call, providing an overview of the Company’s 2024 milestones, strategic initiatives, and its outlook for 2025. CFO Paul Sun will present the Q4 2024 financial results, along with a full-year review, which is scheduled for release after market close on March 27th, 2025. Pre-submitted investor questions will also be addressed during the call.

    Registration for the call can be accessed here.

    Investors are encouraged to submit their questions in advance to:

    investor.relations@draganfly.com.

    About Draganfly

    Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is a pioneer in drone solutions, AI-driven software, and robotics. With over 24 years of innovation, Draganfly has been at the forefront of drone technology, providing solutions for public safety, agriculture, industrial inspections, security, mapping, and surveying. The Company is committed to delivering efficient, reliable, and industry-leading technology that helps organizations save time, money, and lives.

    For more information, visit www.draganfly.com.

    For investor details, visit:

    Media Contact
    media@draganfly.com

    Company Contact
    info@draganfly.com

    The MIL Network

  • MIL-OSI: CLEAR and American Express Renew Partnership to Provide Premium Travel Experiences at Airports to Card Members

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 25, 2025 (GLOBE NEWSWIRE) — CLEAR (NYSE: YOU), the secure identity platform, is extending its partnership with American Express for its second one year renewal term. CLEAR and American Express entered into the partnership in 2019, which provides eligible American Express Card Members who enroll in CLEAR, and pay using their qualifying American Express credit cards, up to $199 in annual statement credits for their CLEAR Plus Membership. CLEAR Plus offers Members a faster, more predictable airport experience across its nationwide network by enabling them to verify their identity in seconds with CLEAR’s latest face-first technology.

    American Express U.S. Card Members with the following Cards can continue to enjoy their CLEAR Plus benefit:

    • Personal, Corporate, and Small Business Platinum Card®
    • American Express® Green Card
    • Hilton Honors American Express Aspire Card

    To learn more about Card eligibility, please visit americanexpress.com/us/clear.

    About CLEAR
    CLEAR’s mission is to strengthen security and create frictionless experiences. With over 30 million Members and a growing network of partners across the world, CLEAR’s identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we never sell Member data. For more information, visit clearme.com.

    Forward-Looking Statements
    This release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any and such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including those described in the Company’s filings within the Securities and Exchange Commission, including the sections titled “Risk Factors” in our Annual Report on Form 10- K. The Company disclaims any obligation to update any forward-looking statements contained herein.

    Media
    CLEAR
    media@clearme.com

    The MIL Network

  • MIL-OSI: Farmers & Merchants Bancorp, Inc. Declares 2025 First-Quarter Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    ARCHBOLD, Ohio, March 25, 2025 (GLOBE NEWSWIRE) — The Board of Directors of Farmers & Merchants Bancorp, Inc., (Nasdaq: FMAO) the holding company of F&M Bank, with total assets of $3.36 billion at December 31, 2024, today announced that it has approved the Company’s quarterly cash dividend of $0.22125 per share. The first-quarter dividend is payable on April 20, 2025, to shareholders of record as of April 4, 2025.

    About Farmers & Merchants State Bank:
    Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) is the holding company of F&M Bank, a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in West Bloomfield, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

    Safe Harbor statement
    Farmers & Merchants Bancorp, Inc. (“F&M”) wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

    Company Contact:
    Lars B. Eller
    President and Chief Executive Officer
    Farmers & Merchants Bancorp, Inc.
    (419) 446-2501
    leller@fm.bank
    Investor and Media Contact:
    Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    The MIL Network

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 25.03.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    25 March 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 25.03.2025

    Espoo, Finland – On 25 March 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:                

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,803,118 4.96
    CEUX 1,137,165 4.96
    BATE
    AQEU
    TQEX 165,012 4.96
    Total 3,105,295 4.96

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 25 March 2025 was EUR 15,388,910. After the disclosed transactions, Nokia Corporation holds 197,228,875 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network

  • MIL-OSI Canada: Government of Saskatchewan Introduces PST on Vapour Products

    Source: Government of Canada regional news

    Released on March 25, 2025

    Today, the Government of Saskatchewan introduced amendments to The Provincial Sales Tax Act, 2025 to remove the provincial sales tax (PST) exemption on vapour products. Effective June 1, 2025, the provincial sales tax rate of six per cent will apply to all vapour products in addition to the existing vapour products tax. 

    “Today’s amendment exemplifies our government’s commitment to fair tax administration,” Deputy Premier and Finance Minister Jim Reiter said. “Shortly, equivalent taxation will apply to all vapour and tobacco products sold in Saskatchewan. This will help discourage the use of these products, especially among youth, who are at risk of long-term, negative health impacts.”

    Initially announced as part of the 2025-26 Budget, the PST on vapour products is anticipated to increase PST revenues by $3 million annually. However, the benefits are expected to reach far beyond tax revenue. 

    Nicotine exposure is known to harm healthy brain development in youth and young adults, which can lead to problems with learning, memory and mood and can increase the risk of addiction to other substances.

    “We applaud the Saskatchewan Government for its recent announcement that a provincial sales tax will be added to all vapour products,” Lung Saskatchewan President and CEO Erin Kaun said. “Increased taxation is one of the most effective strategies in reducing consumption, particularly among youth. We look forward to continuing to work with the government to support a healthier Saskatchewan.”

    -30-

    For more information, contact:

    MIL OSI Canada News

  • MIL-OSI USA: ICE Newark investigation leads to conviction of Pennsylvania man for conspiring to distribute cocaine

    Source: US Immigration and Customs Enforcement

    CAMDEN, N.J. — A Pennsylvania man was found guilty of conspiring to distribute cocaine following an U.S. Immigration and Customs Enforcement investigation.

    Marvin Murphy, 48, of Philadelphia, was convicted on March 18 after a two-day bench trial at the U.S. District Court for the District of New Jersey in Camden. Murphy was remanded into custody after the verdict.

    “Murphy and his co-conspirators had ill intentions of pedaling poison into American communities from coast to coast,” said ICE Homeland Security Investigations Newark Special Agent in Charge Ricky J. Patel. “Their devious plan to traffic at least ten kilograms of cocaine into New Jersey was thwarted thanks to our partnership with HSI San Diego and Mount Laurel Police.”

    According to the investigation, from June 2021 through July 13, 2021, Murphy conspired with Carl Lee Holloway, Lavinston Lamar, and others to distribute and to possess with intent to distribute cocaine.

    On June 23, 2021, Holloway traveled to San Diego, California, to meet with an undercover agent posing as a drug dealer. Holloway and the undercover agent discussed arranging a drug deal in New Jersey during which the undercover agent would deliver at least 10 kilograms of cocaine for Holloway and his associates. During the meeting, Holloway called Murphy, and the two proceeded to communicate about the drug deal during the subsequent weeks.

    On July 13, 2021, Holloway, Murphy, and Lamar separately arrived at a hotel in Mount Laurel, New Jersey, each with bags containing U.S. currency collectively totaling over $340,000. They met with undercover agents inside a hotel room at the hotel. They briefly inspected one of the kilograms of cocaine previously brought into the room by undercover agents, after which agents entered the room and arrested Holloway, Lamar, and Murphy.

    Holloway was previously sentenced to 120 months in prison after he pleaded guilty to his involvement in the same conspiracy. Lamar was previously sentenced to 114 months in prison, which was later reduced to 100 months, after Lamar pleaded guilty to his involvement in the same conspiracy and to violating the conditions of his supervised release from a prior conviction for conspiring to distribute cocaine.

    MIL OSI USA News

  • MIL-OSI Russia: Financial news: On holding auctions on March 26, 2025 to place OFZ issues No. 26218RMFS and No. 26240RMFS

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    For bidders

    We inform you that, based on the letter of the Bank of Russia and in accordance with Part I. General Part and Part II. Stock Market Section of the Rules for Conducting Trading on the Stock Market, Deposit Market and Credit Market of Moscow Exchange PJSC, the order establishes the form, time, term and procedure for holding auctions for the placement and trading of the following federal loan bonds:

    1.

    Name of the Issuer Ministry of Finance of the Russian Federation
    Name of security Federal loan bonds with constant coupon income
    State registration number of the issue 26218RMFS from 23.10.2015
    Date of the auction March 26, 2025
    Information about the placement (trading mode, placement form) The placement of Bonds will be carried out in the Trading Mode “Placement: Auction” by holding an Auction to determine the placement price. BoardId: PACT (Settlements: Ruble)
    Trade code CO26218RMFSB
    ISIN code RO000A0ZHVV48
    Calculation code B01
    Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
    Trading time Trading hours: bid collection period: 12:00 – 12:30; bid execution period: 13:00 – 18:00.

    2.

    Name of the Issuer Ministry of Finance of the Russian Federation
    Name of security federal loan bonds with constant coupon income
    State registration number of the issue 26240RMFS from 06/28/2021
    Date of the auction March 26, 2025
    Information about the placement (trading mode, placement form) The placement of Bonds will be carried out in the Trading Mode “Placement: Auction” by holding an Auction to determine the placement price. BoardId: PACT (Settlements: Ruble)
    Trade code CO26240RMFS0
    ISIN code RO000A103br0
    Calculation code B01
    Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
    Trading time Trading hours: bid collection period: 14:30 – 15:00; bid execution period: 15:30 – 18:00.

    Contact information for media 7 (495) 363-3232Pr@moex.kom

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MEEX.K.M.M.

    MIL OSI Russia News

  • MIL-OSI United Nations: In Dialogue with Malta, Experts of the Committee on Enforced Disappearances Ask about Efforts to Establish a Stand-Alone Law on Enforced Disappearance and Prevent Disappearances of Migrants

    Source: United Nations – Geneva

    Committee Experts Commemorate the Day of Remembrance for Truth and Justice in Argentina and the International Day for the Right to the Truth Concerning Gross Human Rights Violations and for the Dignity of Victims

    The Committee on Enforced Disappearances today concluded its consideration of the initial report of Malta on its implementation of the International Convention on the Protection of All Persons from Enforced Disappearance.  Committee Experts asked questions on the State’s efforts to establish a stand-alone law on enforced disappearance and a national human rights institution, and to prevent disappearances of migrants.

    Several experts raised concerns that the State party did not have a stand-alone crime of enforced disappearance.  Fidelis Kanyongolo, Committee Expert and Country Rapporteur, asked about steps taken to establish an autonomous offence of enforced disappearance with appropriate penalties.

    Barbara Lochbihler, Committee Expert and Country Rapporteur, said the human rights and equality commission bill, which would establish a national human rights institution, had not yet been enacted.  What parts of the bill were under review and what was the timeline for its adoption?

    Ms. Lochbihler also cited reports of tactics of non-assistance to migrants and refugees in distress at sea, as well as pushbacks to Libya, leading to deaths and disappearances.  Refugees in Libya were reportedly kept in appalling conditions, and exposed to abuse, extortion, abduction and human trafficking.  What measures had the State party taken to prevent disappearances of migrants and dangerous pushbacks at sea?

    Introducing the report, Fiorella Fenech Vella, Office of the State Advocate of Malta and head of the delegation, said Malta had consistently recognised that enforced disappearance was a crime under customary international law, and the State had classified enforced disappearances as inhumane acts under its umbrella provision of crimes against humanity since its independence in 1964.

    The delegation added that Malta had no reported cases of enforced disappearance and the State party criminalised all elements of the crime of enforced disappearance, though it did not have a stand-alone crime of enforced disappearance or plans to create one.

    The establishment of an independent national human rights institution remained a high priority for Malta, Ms. Fenech Vella said.  The equality and human rights commission bill had been previously presented to Parliament; however, the legislative process was halted due to the dissolution of Parliament for the 2022 general elections.  Since then, efforts had been made to develop the bill to ensure full compliance with the Paris Principles and relevant European Union directives.  The delegation could not provide a timeline for its adoption, however.

    The delegation said Malta had saved several migrants at sea.  Maltese authorities acted on distress calls at sea in accordance with relevant international laws and had not engaged in any pushbacks to Libya. The Government signed a memorandum of understanding with Libya in 2020 on setting up coordination centres in Tripoli and Malta to improve the reception of migrants and combat trafficking in the region.

    In concluding remarks, Ms. Fenech Vella said the dialogue was an essential component for further strengthening Malta’s implementation of the Convention and for strengthening protections for rights holders in the State.  The State party would carefully analyse and take into account the Committee’s recommendations in its development of laws and policies.

    Olivier de Frouville, Committee Chair, in concluding remarks, said the State party and the Committee’s common goal was to ensure the implementation of the Convention.  Mr. de Frouville called on Malta and other States that had ratified the Convention to petition States that had not ratified to do so.  The Committee looked forward to continuing to work with Malta in future.

    The delegation of Malta consisted of representatives of the Ministry for Home Affairs, Security and Employment; Ministry for Foreign Affairs and Tourism; Office of the State Advocate; Office of the Attorney General; Ministry for Justice and Reform of the Construction Industry; and the Permanent Mission of Malta to the United Nations Office at Geneva.

    At the end of the first day of the dialogue, the Committee heard statements marking the Day of Remembrance for Truth and Justice in Argentina and the International Day for the Right to the Truth Concerning Gross Human Rights Violations and for the Dignity of Victims.

    Horacio Ravenna, Committee Vice-Chair, recounted that 49 years ago, the armed forces in Argentina initiated a coup against the State’s leadership and imposed a military dictatorship.  In this era, when many political dissidents were subjected to enforced disappearance, the exiled mothers of victims led the fight and bravely spoke out.  On this day, the Committee honoured persons who had passed away and continued to raise public awareness for the next generations, so that the horrendous crime could be eradicated forever.

    Mr. de Frouville, Committee Chair, said all needed to remember the courageous struggle of the Mothers of Plaza de Mayo, whose actions had led to the development of the Convention.

    The Committee will issue its concluding observations on the report of Malta at the end of its twenty-eighth session, which concludes on 4 April.  Summaries of the public meetings of the Committee can be found here, while webcasts of the public meetings can be found here.  The programme of work and other documents related to the session can be found here.

    The Committee will next meet in public on Friday, 4 April at 5 p.m. to close its twenty-eighth session.

    Report

    The Committee has before it the initial report of Malta (CED/C/MLT/1).

    Presentation of Report

    FIORELLA FENECH VELLA, Office of the State Advocate of Malta and head of the delegation, said the dialogue was an opportunity to reaffirm Malta’s unwavering commitment to the Convention and its unwavering support to the United Nations human rights treaty bodies.  Malta had consistently recognised that enforced disappearance was a crime under customary international law amounting to torture, inhuman and degrading treatment.  The State had classified enforced disappearances as inhumane acts under its umbrella provision of crimes against humanity since its independence in 1964. It also signed in February of last year the Ljubljana-Hague Convention on prosecuting war crimes and genocide, which would help deliver justice to victims of genocide, crimes against humanity and war crimes, facilitating effective international cooperation in domestic investigations and prosecutions.

    Malta’s 1964 Constitution and Bill of Rights, adopted upon Malta’s establishment as a State, enshrined key rights, including the right to life; protection against arbitrary arrest or detention, and inhuman treatment; the right to a fair hearing; and the prohibition of deportation, among others.  The Constitution stipulated that detention could only occur under lawful conditions.  The International Criminal Court Act incorporated international crimes, including enforced disappearances categorised as crimes against humanity, into the State’s law.  Malta had ratified several international treaties aimed at preventing enforced disappearances and protecting human rights, including the European Convention on Human Rights; had ratified several United Nations human rights treaties and their protocols; and had accepted communications procedures under a number of these.  It was constantly reviewing the Committee’s communications procedure and would keep it updated on any developments.

    Combatting trafficking in persons remained a priority for the State.  Malta had launched a national strategy and action plan on combatting trafficking in human beings in Malta (2024-2030), which aimed to strengthen the necessary national framework required to prevent human trafficking, protect victims, and prosecute offenders of this crime.  Anti-trafficking actions were being developed to address root causes, risks, threats, new methods used by traffickers, and demand.  The strategy took a human rights-focused, gender-sensitive, interdisciplinary, and cross-sectoral approach.  The Police, via the Vulnerable Victims Unit, conducted investigations into human trafficking and collaborated closely with the Financial Crime Investigation Department to effectively target traffickers and prevent them from reaping financial gains from their criminal activities.  In 2024, Malta initiated two prosecutions which combined human trafficking charges with money laundering charges, with legal proceedings currently underway.

    Victims of human rights violations – including heirs of individuals subjected to enforced disappearances – were entitled to initiate court proceedings against the State Advocate in the First Hall of Malta’s Civil Court.  An individual could only be presumed dead when their absence had lasted for a continuous period exceeding 10 years.  The Constitutional Court could issue orders to safeguard affected individuals’ rights and ensure that any law, entity or individual, including all State officials, in breach of fundamental human rights were held accountable.  Even the President could face legal action for acts committed outside the scope of functions of the Office. 

    Malta had incorporated effective remedies for victims of human rights violations in its legislation. The State was in full compliance with article 17(3) of the Convention, which mandated that official registers of individuals deprived of liberty were maintained by the appropriate authorities and updated as necessary.

    The establishment of an independent national human rights institution in accordance with the Paris Principles remained a high priority for Malta.  The equality and human rights commission bill had been previously presented to Parliament; however, the legislative process was halted due to the dissolution of Parliament for the 2022 general elections. Since then, efforts were ongoing to further develop the bill to ensure full compliance with the Paris Principles and European Union directives that established minimum standards for equality bodies’ independence, resources and powers.  The proposed institution was conceived to function as an independent, well-resourced, and effective entity to be endowed with the necessary legal mandate to promote and protect human rights fervently.

    Malta was resolutely committed to the promotion and protection of human rights, including related to enforced disappearances, and ensuring justice and accountability.  The State party’s efforts reflected its moral commitment to uphold the dignity and rights of all individuals.

    Questions by Committee Experts

    BARBARA LOCHBIHLER, Committee Expert and Country Rapporteur, said the human rights and equality commission bill, which would establish a national human rights institution, had not yet been enacted.  What parts of the bill were under review and what was the timeline for its adoption? Why had the State party not yet accepted the Committee’s competence to receive individual and inter-State communications?  Had any national courts directly invoked the Convention?  Why had the State party not consulted with civil society organizations in preparing the report?

    FIDELIS KANYONGOLO, Committee Expert and Country Rapporteur, said the emergency powers act empowered the President to make necessary regulations for public safety, health and the defence of Malta in states of emergency.  Had the President ever exercised this power?  Which legal provisions specifically guaranteed non-derogation from legislation stipulating the right of every person to be protected from enforced disappearances during states of emergency?

    Was State legislation in line with article two of the Convention?  What steps had been taken to establish an autonomous offence of enforced disappearance with penalties commensurate to the seriousness of the offence in State legislation?  Did the State party have a law which established its jurisdiction over the offence of enforced disappearance committed outside of Malta when the alleged offender was present in the country, including in cases where the alleged offender was not subject to military law and when the crime was not a crime against humanity?

    There was no up-to-date statistical information available on the number of disappeared persons or persons involved in enforced disappearances in Malta.  What challenges was the State party facing in this regard?  What plans did it have to systematically collect data on enforced disappearances in future?  How many cases of enforced disappearance had been investigated by the State?  What measures had been taken to ensure the impartiality of such investigations and that public officers allegedly involved in the crime did not take part in the proceedings?

    Malta’s whistleblower act offered some degree of protection to whistleblowers and witnesses.  However, it did not extend its protection to members of a “disciplined force”, the Security Service or persons employed in the foreign, consular or diplomatic service of the Government.  What measures were in place to protect such internal whistleblowers and witnesses, as well as relatives of victims and defence counsel? Did the Code of Ethics of Police Officers provide protection to police officers who witnessed acts of violence, inhumane or offensive treatment?

    Had the State party concluded any extradition agreement with other State parties?  Had it participated in mutual legal assistance and cooperation with other States in respect to offences of enforced disappearances and abduction? Were there any inter-country procedures in place to govern the search for and release of disappeared persons, and the identification and return of their remains in case of death?

    A Committee Expert asked whether the Convention could be directly enforced in Malta.  The State party did not have a stand-alone crime of enforced disappearance.  What mechanisms were in place to harmonise domestic law with the Convention?

    Another Committee Expert asked about plans to involve civil society in the development of State party reports.

    Responses by the Delegation

    The delegation said Malta had no reported cases of enforced disappearance and the State maintained a robust legal framework to prevent occurrences of enforced disappearance. The Criminal Code classified enforced disappearance as a crime against humanity.  It was in line with article two of the Convention.  All cases of suspected enforced disappearance and missing persons were treated with the highest priority by the police and promptly investigated.  Authorities immediately checked detention records after reports of missing persons. Investigations utilised a range of forensic techniques and legal electronic surveillance tools.  In cases of cross-border activities, the State party engaged with Interpol in investigations.  The police compiled a centralised system containing all reports of missing persons and disappearances, which was used to track searches and investigations.

    Several oversight mechanisms were in place to investigate alleged human rights violations by State officials, including the police’s internal investigation unit.  The police conducted regular human rights training, which addressed the prohibition of enforced disappearance and arbitrary detention. Early warning mechanisms were in place to identify arbitrary detentions at an early stage.  All persons in police custody needed to be registered in the police detention registry.  The maximum period of police detention, which was 48 hours, could be extended for an equivalent period for serious offences when permitted by a magistrate.

    The Criminal Code stated that detained persons had the right to a lawyer and to communicate with consular authorities if they were foreigners.  When detained persons required an interpreter, one needed to be provided without delay.  Police officers were required to follow the Police Code of Ethics, considering the potential effects of their actions.  They were required to take immediate action to protect people and private property from violence.

    Persons subjected to extradition proceedings had the right to engage with lawyers and to appeal extradition decisions.  Malta had the competence to try cases of enforced disappearance that were crimes against humanity committed inside and outside of Malta.  When unable to extradite a person accused of enforced disappearance, the State had the competence to prosecute the person domestically.  Malta had colonial-era extradition agreements with the United States, Tunisia, Libya and Egypt.  It was bound by the European Convention on Extradition, which superseded any provisions implemented by bilateral agreements.  There had been no cases of extradition of persons accused of enforced disappearance, but there were cases related to abduction and trafficking in persons.

    Detention services had a central registry of detentions.  All immigration detentions and involuntary admissions to psychiatric institutions were registered.  Persons under arrest could challenge the lawfulness of their detention at any time. The detention of persons in places that were not classified as prisons was an offence.  Police investigations into trafficking cases checked for enforced disappearance.  Persons who had conspired to commit enforced disappearance were prosecuted.  All public officers accused of enforced disappearance or abductions were immediately suspended and were not involved in searches or investigations.

    Maltese law was derogable; Parliament had the power to change national laws, except for the Constitution.  All directives given by the President needed to be in line with the Constitution, which prevailed in cases where domestic legislation conflicted with it.  Parliament could not make amendments to laws without reaching a two-thirds majority, meaning that the ruling party could not impose laws on its own.

    The bill establishing the national human rights institution had been suspended in 2022 due to the general election and assessment of it had started afresh.  Malta was not able to provide a date for the enactment of the bill. There were no civil society organizations active in the field of enforced disappearance in Malta.

    Questions by Committee Experts

    FIDELIS KANYONGOLO, Committee Expert and Country Rapporteur, asked about the State party’s jurisdiction over enforced disappearances that did not amount to crimes against humanity.  Suspensions could be imposed by the heads of government departments in cases of allegations against inferiors.  Were there provisions that ensured that heads of departments exercised this discretion from the beginning of investigations and for their entire duration?  To what extent did domestic legislation address concealment of the fate or whereabouts of disappeared persons?  To what extent was the State obliged to investigate when enforced disappearance was perpetrated by non-State actors?  Was the right to be protected from enforced disappearance derogable in Malta?  Could persons be extradited to places where they could be subjected to enforced disappearance?  Were police officers who reported enforced disappearances to persons other than their superior officers protected under whistle-blower legislation?

    BARBARA LOCHBIHLER, Committee Expert and Country Rapporteur, said enforced disappearances related to issues such as trafficking in persons and migration. Why were civil society organizations that dealt with these issues not involved in preparing the State party’s report?

    Another Committee Expert asked if State legislation addressed the act of aiding and abetting the crime of trafficking in persons.  There were barriers to enforced disappearance being invoked as grounds for an extradition in Malta due to the principle of double jeopardy, which required both the extraditing and receiving States to have the same laws on the crime.  How would the State party address this issue?

    A Committee Expert asked if the Executive, the Attorney General, non-governmental organizations or private individuals had the power to develop legal norms that could be assessed and approved by the legislature.

    One Committee Expert said the Committee was delighted that Malta had never recorded cases of enforced disappearances, but the Convention required that the State party set up legal mechanisms, including a stand-alone offence of enforced disappearance, that would allow it to deal with enforced disappearances that could occur on national territory in future.

    Responses by the Delegation

    The delegation said the State party criminalised all elements of the crime of enforced disappearance, though it did not have a stand-alone crime of enforced disappearance or plans to create one. The State party could prosecute all cases of enforced disappearance occurring on its territory.  The emergency powers of the President had never been applied.  The delegation was unable to provide a timeline for the adoption of the bill establishing the national human rights institution.

    There were no bilateral agreements that Malta had concluded that addressed enforced disappearances.  Acts that constituted offences to the laws of Malta were extraditable offences.  Double criminality was adopted in most extradition cases.  When offences listed as grounds for extradition in a foreign State’s extradition request were not included in Malta’s laws, the State party was obliged to indicate an applicable domestic law.  How certain countries interpreted trafficking in persons crimes could differ, which could lead to complications.  The State party needed to do its best to find common ground between jurisdictions in cases of this kind.

    Comprehensive witness protection measures were in place.  Witnesses whose safety was at risk were entitled to identity changes and relocation measures.  Punishments could be mitigated based on witnesses’ cooperation.

    When there were allegations against a police officer, the officer involved was immediately suspended.  When a civil servant under suspicion of having committed a crime was suspended, they could appeal their suspension with the civil service complaints authority.

    Malta was a Westminster democracy, so the Executive could not submit draft laws for consideration, but citizens could.

    State laws addressed aiding and abetting crimes of human trafficking and abduction, including financing and supporting the crime and making use of products obtained through the crime of trafficking in persons.

    Questions by Committee Experts

    BARBARA LOCHBIHLER, Committee Expert and Country Rapporteur, asked about mechanisms applied prior to an extradition to assess whether persons could be at risk of enforced disappearance.  Did registers of detained persons include all the details required by the Convention? Were registers regularly updated? Had the State party revised its legal definition of “places of deprivation of liberty” in line with the recommendation of the Sub-Committee for the Prevention of Torture

    Malta’s policies and practices reportedly increased the risk of enforced disappearances of migrants and victims of trafficking.  Tactics of non-assistance or delay in assistance to migrants and refugees in distress at sea, as well as pushbacks to Libya, violating the non-refoulement principle, had led to deaths and disappearances of migrants at sea.  The widespread use of immigration detention and alleged episodes of violence in pre-removal detention centres also continued to be a human rights concern in Malta.  The State party had been called on to stop pushbacks at sea to Libya, which could not be considered a safe space.  Refugees in Libya were reportedly kept in appalling conditions, and exposed to abuse, extortion, abduction and human trafficking.  What measures had the State party taken to prevent disappearances of migrants and dangerous pushbacks at sea?  Malta had had a Memorandum of Understanding with Libya since 2020 that included the funding of two coordination centres in Libya.  What were the contents of this memorandum and how did it prevent migrant pushbacks? 

    Open centres for migrants in Malta reportedly lacked space, forcing the State party to place migrants in detention centres.  Could the delegation update the Committee on this practice?  Were there migration detention facilities that were not operated by the detention service?  What progress had been made in establishing a central register for detained migrants? How long was the maximum and minimum period of migrant detention?  Could data on the nationality of detained migrants be provided?  What was the timeline for extending the mandate of the national preventive mechanism?

    Did the content of training activities referred to in the reply to the list of issues address the Convention? Was the State party planning on providing human rights training to medical personnel in prisons, members of the judiciary, immigration personnel and social workers?  Would training address illegal intercountry adoptions?

    Did national laws place a time limit on access by victims of enforced disappearance and their relatives to reparation?  Did laws address victims’ relatives’ rights to information and property?

    What policies and measures had been taken to protect children, particularly unaccompanied minors, from enforced disappearances in the context of migration and trafficking?  Could the delegation provide figures on trafficking of children?  How had the State party’s policies on illegal intercountry adoption developed, taking into account international norms on the practice?

    FIDELIS KANYONGOLO, Committee Expert and Country Rapporteur, said the State party’s obligations under the Convention still existed, although there were no recorded cases of enforced disappearance in the State.  Were there plans to expand the definition of “victims” in Malta’s victims of crime act to align it with article 24 of the Convention, particularly to include family members of individuals who had suffered harm as a result of enforced disappearances that had not directly caused deaths?  What measures were in place to provide victims’ relatives the right to know the progress of investigations and the fate of disappeared persons, and the right to be returned remains in cases of death?  Did relatives have the right to various forms of reparation, including restitution, rehabilitation, and guarantees of non-repetition?  Were there laws that obliged the State to continue the investigation of cases until the fate of the disappeared person had been clarified?  Had measures been taken in law and practice to guarantee the right of people in Malta to establish and participate freely in associations attempting to establish the fate of disappeared persons and to assist victims and relatives?

    Another Committee Expert asked how detained persons were informed of their rights, including their right to counsel? How were women and children protected in cases of enforced disappearance?

    Responses by the Delegation

    The delegation said no person was to be subjected to inhumane or degrading treatment or punishment during extradition proceedings.  Persons were not to be returned if they could be subjected to inhumane treatment or other human rights violations.  Under European arrest warrant laws, the State was bound by a 10-day surrender period, during which time persons subjected to extradition proceedings could appeal the extradition.  Last year, a judgement was made by the Court of Criminal Appeal deciding to prevent the extradition of a person to Romania due to deficiencies in prison conditions in that State.

    Malta was in the process of amending the whistleblowers act so that whistleblowers who were members of the disciplinary forces and other persons would be protected under the act.

    Malta’s laws on trafficking in persons were in line with international norms and ensured protection for vulnerable groups, including women and children.  The victims of crime act ensured that victims had access to legal aid, psychological support and shelter, and granted them the right to be informed about the progress of legal proceedings. The Malta police had a unit for investigating trafficking and non-governmental organizations provided shelters and support for victims.  Training was provided to police on identifying victims of trafficking.  The State party had ratified several international norms on trafficking, including the Palermo Protocol.

    Records of immigration detention were kept in an online database that relevant State authorities could access.  Data was recorded upon admission to migrant facilities.  Many police officers had participated in training courses addressing human rights, investigating missing persons, and victim and witness protection.

    The judiciary had received training on the rights of victims, including to access compensation and justice.  The definition in the victims of crime act was not the only definition of a “victim” in State legislation.  Victims had the right to be understood, and were informed about the protection and legal aid measures they were entitled to and methods of accessing compensation. There were many avenues to compensation under Malta’s legislation, including provisions in the Criminal Code addressing compensation and a process for obtaining compensation for civil cases. Agencies had been established to ensure victims received timely individual assessments regarding the support measures they were entitled to.  The State party prioritised the protection of vulnerable victims and victims of serious crimes, guarding against intimidation and reprisals against victims.  Child victims testified to magistrates in separate rooms to trial rooms to prevent traumatisation.

    Migration remained a challenge for Malta, as the State was located on a major migration route. It had saved several migrants at sea over the past 20 years.  The United Nations High Commissioner for Refugees had assisted the State party to improve its asylum system and to establish services such as migrant health services and return counselling.  The State party was dedicated to meeting its human rights obligations regarding migrants, to providing protection to those who needed it, and to returning other migrants in a safe and humane manner.  Maltese authorities acted on distress calls at sea in accordance with relevant international laws. 

    Malta had not engaged in any pushbacks to Libya and there had been no occurrences of collective expulsions.  The Government signed a memorandum of understanding with Libya in 2020 on setting up coordination centres in Tripoli and Malta to improve reception of migrants and combat trafficking in the region.  Libyan authorities needed to be given the necessary resources to combat migrant smuggling.  The memorandum of understanding had led to reduced loss of life in the Mediterranean region.

    The detention of migrants was enforced on clear legal grounds.  Detention orders were issued following individual assessments and only as a last resort.  Such orders were subject to an automatic review and subsequent reviews every 14 days. Migrants were notified of removal decisions verbally and in writing.  Removal orders provided explanations of the reasons for the order and options for voluntary removals.  All return activities were monitored by an independent monitoring board. Free legal aid and interpretation services were provided in legal proceedings on removals.

    All unaccompanied minors were protected by care orders issued by the courts.  They were cared for by the agency for the welfare of asylum seekers, which collaborated with the police force and reported signs of trafficking and risks of minors leaving the country without consent.

    Overcrowding in detention and open centres had not been a problem since 2021.  Malta’s open centre was closed in 2020 due to the COVID-19 pandemic.  The centre was reopened in 2021 and an additional centre was constructed, resolving the problem.  The current occupancy rate in detention centres was less than 30 per cent. Violence in detention centres was not an issue.  Independent correctional centre monitoring boards had been appointed as the State’s national preventive mechanism.  These boards submitted regular reports to the State regarding conditions in detention centres.

    The legal status of victims of enforced disappearance was defined in the Civil Code, which specified that the assets of such persons were managed by curators who were appointed by the courts.  There were safeguards on victims’ assets.  Courts ensured the protection and supervision of unattended children. The directorate for child protection services operated a children’s house and had powers to carry out and request investigations into cases of violations of children’s rights.

    The Constitution provided for freedom of association.  Any person was entitled to associate regarding issues of enforced disappearance.  No legislation could restrict the freedom of association of any person.

    Questions by Committee Experts

    BARBARA LOCHBIHLER, Committee Expert and Country Rapporteur, said the State party had formed a further memorandum of understanding with Libya in 2024.  Did it address the prevention of enforced disappearance?  Some persons employed by the Libyan Coastguard were reportedly themselves involved in trafficking in persons.  How did the State party respond to these reports?  How did it respond to reports that Maltese authorities had failed to rescue over 200 migrants whose vessel sank in the Mediterranean in 2013?  Did migrants deprived of liberty have the right to a lawyer?  Did the State party address the situation of potentially disappeared persons in its work on locating missing migrants?  Had the State party referenced the Committee’s general comment on illegal intercountry adoptions in its regulations on the practice?

    FIDELIS KANYONGOLO, Committee Expert and Country Rapporteur, asked about amendments being contemplated for the whistleblowers act and the potential timeline for their adoption.  Did registers of persons deprived of liberty include all details stipulated in article 17 (3) of the Convention?  Were the State’s registers interconnected and interoperable?  Did the State’s various definitions of “victims” reflect the breadth of the definition of victims in article 24 of the Convention?  Were victims entitled to compensation and remedies as broadly defined in article 24 (5)?  Mr. Kanyongolo appreciated the details provided by the delegation regarding Malta’s legislation.

    Another Committee Expert said the State party had proceedings to declare absences and deaths. What procedure was used to declare disappearances?

    Responses by the Delegation

    The delegation said that when a person was charged with a criminal offence, victims could participate in criminal proceedings and could file a petition to claim compensation. The Criminal Code included a compensation scheme.  Under Maltese law, victims could also file actions against the Government before the Civil Court requesting damages.  Damages were timebound and could be renewed after certain periods.  In cases where breaches of human rights were found, courts could grant pecuniary and non-pecuniary damages.  Victims also had the right to file applications for reparation with the Constitutional Court and the European Court of Human Rights.

    Adoptions were regulated by State laws and there was an authority that oversaw adoptions, including intercountry adoptions, to ensure that they were legal.

    Migrants were granted the same rights as other individuals in criminal proceedings, including the right to a lawyer, the right to contact family members, and the right to medical assistance as required.  They were given information on their rights upon detainment in a language that they understood.

    The memorandum of understanding with Libya had been renewed in 2024 with the same terms and conditions of the previous one.  It aimed to dismantle trafficking activities and prevent the loss of life of migrants at sea.  When the State party received requests for information on missing migrants at sea, responsible authorities conducted necessary investigations.  Malta abided by its international obligations and had never relinquished a search case for migrants in distress at sea.

    Amendments to the whistleblower act were still in the drafting stage and the delegation could not provide a timeline for its adoption.

    Malta was in full compliance with article 17 (3) of the Convention.  Registers of detained persons were maintained by authorities and updated as necessary.  They included the detainees’ personal details, and the time of and reason for arrest, among other details.  Registers were regularly reviewed to ensure compliance with domestic and international norms.

    The Civil Code defined the process for declaring absences.  Disappeared persons could be declared as absentees.  Presumptive heirs of absentees could file petitions to courts to obtain their assets.  The will of the absentee was opened after 10 years of absence, and courts determined who received assets in cases where the absentee had not made a will.

    Closing Remarks

    OLIVIER DE FROUVILLE, Committee Chair, thanked the delegation for the dialogue.  The Committee would prepare concluding observations based on the topics discussed and call on the State party to report on implementation of these concluding observations after a certain period.  The Committee would decide whether or not to hold a follow-up dialogue with Malta based on its assessment of this report.  The State party and the Committee’s common goal was to ensure the implementation of the Convention.  Mr. de Frouville called on Malta and other States that had ratified the Convention to petition States that had not ratified to do so.  The Committee looked forward to continuing to work with Malta in future.

    FIORELLA FENECH VELLA, Office of the State Advocate of Malta and head of the delegation, said the delegation had engaged fully with the Committee in the dialogue.  The Committee had posed pertinent questions related to the implementation of the Convention.  The dialogue was an essential component for further strengthening Malta’s implementation and for strengthening protections for rights holders in the State.  Malta had never implemented policies that had amounted to enforced disappearance, a reflection of its dedication to promoting human rights principles.  The State party would carefully analyse and take into account the Committee’s recommendations in its development of laws and policies.

    Statements Marking the Day of Remembrance for Truth and Justice in Argentina and the International Day for the Right to the Truth Concerning Gross Human Rights Violations and for the Dignity of Victims

    At the end of the first day of the dialogue, HORACIO RAVENNA, Committee Vice-Chairperson, said that 24 March was a special day in Argentina, the Day of Remembrance for Truth and Justice. Forty-nine years ago today, the armed forces in Argentina initiated a coup against the State’s leadership and imposed a dictatorship.  Several similar coups were also carried out in other countries in South and Latin America. Many political dissidents were killed, arbitrarily detained and subjected to enforced disappearance in this era as part of Operation Condor, and legislation in many countries did not sufficiently address the phenomenon of enforced disappearance.  In this context, the exiled mothers of victims of enforced disappearance led the fight and bravely spoke out, meeting in Paris to discuss the issue, and these discussions led to the development of the Convention, which had been in force for 14 years.  Today, the Committee honoured persons who had passed away and continued to raise public awareness for the next generations, so that the horrendous crime could be eradicated forever.

    OLIVIER DE FROUVILLE, Committee Chair, said today was also, in addition to being the Day of Remembrance for Truth and Justice, the International Day for the Right to the Truth Concerning Gross Human Rights Violations and for the Dignity of Victims. All needed to remember the courageous struggle of the Mothers of Plaza de Mayo, whose actions had led to the development of the Convention.  They had spoken the truth bravely to combat dictatorships.

     

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

     

     

    CED25.007E

    MIL OSI United Nations News

  • MIL-OSI: Capital Southwest Receives Affirmed Investment Grade Rating from Moody’s Investors Service

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, March 25, 2025 (GLOBE NEWSWIRE) — Capital Southwest Corporation (“Capital Southwest,” or the “Company”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced that Moody’s Investors Service, Inc. (“Moody’s”) has affirmed Capital Southwest’s investment grade long-term issuer rating of Baa3 with a stable outlook. Factors cited by Moody’s in support of its rating include Capital Southwest’s strong capitalization and diverse funding profile, first-lien oriented investment portfolio, recurring earnings generation, and internally managed structure.

    About Capital Southwest

    Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $1.7 billion in investments at fair value as of December 31, 2024. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $50 million investments across the capital structure, including first lien, second lien and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.

    Forward-Looking Statements

    This press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest, including, but not limited to, the statements about Capital Southwest’s future performance and financial performance and financial condition. Forward-looking statements are statements that are not historical statements and can often be identified by words such as “will,” “believe,” “expect” and similar expressions and variations or negatives of these words. These statements are based on management’s current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to: changes in the markets in which Capital Southwest invests; changes in the financial, capital, and lending markets; changes in the interest rate environment and its impact on our business and our portfolio companies; regulatory changes; tax treatment; an economic downturn and its impact on the ability of our portfolio companies to operate and the investment opportunities available to us; the impact of supply chain constraints and labor shortages on our portfolio companies; and the elevated levels of inflation and its impact on our portfolio companies and the industries in which we invests.

    Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest’s Annual Report on Form 10-K for the year ended March 31, 2024 and any subsequent filings with the SEC, including the “Risk Factors” sections therein, for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.

    Investor Relations Contact:

    Michael S. Sarner, President and Chief Executive Officer
    214-884-3829

    The MIL Network

  • MIL-Evening Report: ‘We don’t have a cultural place for men as victims’: why men often don’t tell anyone about sexual abuse

    Source: The Conversation (Au and NZ) – By Vita Pilkington, Research Fellow, PhD Candidate in men’s experiences of sexual trauma, The University of Melbourne

    Kristi Blokhin/Shutterstock

    In Australia, it’s estimated almost one in five boys (18.8%) experience child sexual abuse. And at least one in 16 men (6.1%) experience sexual violence after age 15.

    However, many boys and men don’t tell others about these experiences. Studies show men are less likely to disclose sexual abuse and assaults than women.

    It also takes boys and men longer to first disclose sexual abuse or assaults. On average, men wait 21 years before telling anyone about being abused.

    This is a problem because talking to others is often an important part of understanding and recovering from these traumatic experiences. When boys and men don’t discuss these experiences, it risks their mental health problems and isolation becoming worse and they don’t get the support they need.

    We wanted to understand what prevents boys and men from telling others about sexual abuse and assaults (or “sexual trauma”). So we conducted a systematic review, where we pooled together evidence from a range of studies on the topic.

    We found 69 relevant studies, which included more than 10,500 boys and men who had experienced sexual trauma from around the world. Studies were published in 23 countries across six continents, with most studies from the United States, Canada and the United Kingdom. Two studies were published in Australia.

    Our new findings offer clues as to how we can break down the barriers preventing men and boys from discussing sexual trauma.

    Many boys and men don’t tell anyone if they’ve been victim to sexual violence.
    gpointstudio/Shutterstock

    Upending masculine identities

    We found across countries and cultures, boys’ and men’s sexual trauma affected their masculine identities. This included feeling as though they are not “real men”, or that they’re weak for having been targeted and assaulted.

    In one study, a participant explained:

    Sexual abuse to a man is an abuse against his manhood as well.

    Almost universally, boys and men suffered intense feelings of shame and guilt about being victimised, and many blamed themselves for years to decades.

    Many boys and men said they were worried others would think they were gay if they disclosed being abused or assaulted. This harmful stereotype reflects widespread homophobic attitudes as well as mistaken beliefs about survivors of abuse and assaults.

    Sexual abuse against boys and men has been long been overlooked, dismissed and misunderstood. The taboo nature of the issue was felt by participants. As a therapist who supported male survivors of abuse said in one study:

    We don’t have a cultural place for men as victims.

    LGBTQIA+ men face additional barriers to disclosure. Some experienced distress surrounding concerns abuse or assaults somehow cause, or contribute to, their sexualities. Many also reported receiving unsupportive and homophobic responses when they disclosed abuse and assaults to others. This includes their stories being minimised and dismissed, or suggestions they must have consented given their attraction to other men.

    Stigma if they do tell

    In many cases, boys and men who tried to tell others about their sexual trauma were met with stigmatising and unhelpful responses. Some were blamed, told they were making it up, or even mocked.

    Others were discouraged from speaking out about their experiences again. In some countries, people tell boys and men not to talk about being abused or assaulted because this is seen as bringing shame on themselves and their families.

    Boys and men who were assaulted by women were often told their experiences can’t be classified as abuse or assaults, or aren’t bad enough to warrant support.

    Understanding why men don’t talk

    Many of these barriers to disclosure are linked to harmful myths about sexual abuse and assaults among boys and men. These include mistaken beliefs that men are not abused or assaulted, and that only gay men are abused or assaulted.

    What’s more, many people believe experiencing sexual abuse or assaults is at odds with socially-held ideas about how men “should” behave: for example, constantly demonstrating physical strength, dominance, self-reliance and toughness.

    These strict ideas about what it means to be a man appear to prevent many boys and men from disclosing sexual trauma, and impact how others respond when they do disclose.

    It can also mean boys and men try to bury their difficulties after sexual trauma because they feel they’re expected to be unemotional and cope with their problems independently.

    If men don’t feel comfortable telling anyone about their experience, they can’t get help.
    Drazen Zigic/Shutterstock

    What can we do better?

    We know having experienced sexual trauma is closely linked to significant mental health problems in boys and men. These include substance abuse and addiction, post-traumatic stress disorder, depression and even suicide.

    Receiving unsupportive and stigmatising responses when they try to seek help only makes these issues worse, and adds to cycles of silence and shame.

    We must break down barriers that stop boys and men disclosing these traumatic experiences. Doing so could save lives.

    Helping boys and men disclose sexual trauma isn’t just about encouraging them to come forward. We need to make sure other people are prepared to respond safely when they choose to speak up.

    There are many ways to raise awareness of the fact sexual abuse and assault happens to boys and men. For example, television shows such as Baby Reindeer helped put this issue at the forefront of conversation. Public health campaigns that explicitly bring boys and men into discussions about sexual trauma can also be helpful.

    We also need to do more to make sure boys and men who experience sexual trauma have suitable places to go for support. Australia has some services doing vital work in this space, such as the Survivors & Mates Support Network. However, more funding and support is crucial so men across the country have safe spaces to discuss and recover from their experiences.

    The National Sexual Assault, Family and Domestic Violence Counselling Line – 1800 RESPECT (1800 737 732) – is available 24 hours a day, seven days a week for any Australian who has experienced, or is at risk of, family and domestic violence and/or sexual assault.

    Vita Pilkington led this project and receives funding from the Melbourne Research Scholarship and the Margaret Cohan Research Scholarship, both awarded by the University of Melbourne.

    Sarah Bendall has been awarded a NHMRC Investigator Grant to support research surrounding understanding and treating trauma in young people with mental health difficulties. She has previously held a NHMRC Early Career Fellowship and a McCusker Philanthropic Foundation Fellowship. She advises government on trauma and youth mental health policy, including Victoria’s statewide trauma service (Transforming Trauma Victoria).

    Zac Seidler receives funding from an NHMRC Investigator Grant. He is also the Global Director of Research with the Movember Institute of Men’s Health.

    ref. ‘We don’t have a cultural place for men as victims’: why men often don’t tell anyone about sexual abuse – https://theconversation.com/we-dont-have-a-cultural-place-for-men-as-victims-why-men-often-dont-tell-anyone-about-sexual-abuse-252630

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Immediate Declassification of Materials Related to the Federal Bureau of Investigation’s Crossfire Hurricane Investigation

    US Senate News:

    Source: The White House
    class=”has-text-align-left”>MEMORANDUM FOR THE ATTORNEY GENERAL
                   THE DIRECTOR OF NATIONAL INTELLIGENCE
                   THE DIRECTOR OF THE CENTRAL INTELLIGENCE AGENCY
    SUBJECT:       Immediate Declassification of Materials Related to the Federal Bureau of Investigation’s Crossfire Hurricane Investigation
    By the authority vested in me as President by the Constitution and the laws of the United States of America, I hereby direct the following:
    Except as provided below, I have determined that all of the materials referenced in the Presidential Memorandum of January 19, 2021 (Declassification of Certain Materials Related to the FBI’s Crossfire Hurricane Investigation), are no longer classified.
    I have further determined that the material proposed for redaction by the Federal Bureau of Investigation in a cover letter dated January 17, 2021, remains classified.
    My decision to declassify the materials described above does not extend to materials that must be protected from disclosure pursuant to orders of the Foreign Intelligence Surveillance Court and does not require the disclosure of certain personally identifiable information or any other materials that must be protected from disclosure under applicable law.
    Subject to the exceptions identified above, the Attorney General shall make declassified materials described in this memorandum available to the public immediately.  
                                  DONALD J. TRUMP

    MIL OSI USA News

  • MIL-OSI Security: Fourteen Charged in Federal Indictment Following Takedown of Violent Indianapolis Drug Trafficking Ring

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    INDIANAPOLIS— 14 individuals have been charged in a federal indictment alleging a conspiracy to distribute methamphetamine, heroin, fentanyl, and cocaine in Indianapolis, Lafayette, and surrounding communities. The charges follow a successful law enforcement operation in which 13 total individuals have been arrested and are in federal custody. Eight individuals were arrested on March 21, 2025. The following lists the individuals indicted and the charges they face:

    Defendant Charge(s)
    Tanesha M. Turner, 39
    • Conspiracy to distribute controlled substances
    • Kidnapping
    • Carrying and brandishing a firearm during and in relation to a drug trafficking crime
    • Accessory to a crime after the fact
    • Possession of a firearm by a convicted felon
    Charles T. Dunson, 44
    • Conspiracy to distribute controlled substances
    • Carrying and brandishing a firearm during and in relation to a drug trafficking crime.
    • Distribution of methamphetamine
    • Possession of a machinegun
    • Possession of a firearm by a convicted felon
    Tre J. Dunn, 27
    • Conspiracy to distribute controlled substances
    • Carrying and brandishing a firearm during and in relation to a drug trafficking crime.
    • Causing Death by Using a Firearm During and in Relation to a Drug Trafficking Crime
    • Possessing, Brandishing, and Discharging a Firearm During and in Relation to a Drug Trafficking Crime
    Nahamani I. Sargent, 34
    • Conspiracy to distribute controlled substances
    • Retaliating against a witness
    • Use of fire or explosives
    • Possession of a firearm by a convicted felon
    Byron A. Mason, 38
    • Conspiracy to distribute controlled substances
    • Unlawful use of a cell phone
    Adrian J. Bullock, 34
    • Conspiracy to distribute controlled substances
    • Possession of a firearm by a convicted felon
    Avery J. Bullock, 27
    • Conspiracy to distribute controlled substances
    • Possession of methamphetamine with intent to distribute
    John M. Whitfield, 37
    • Conspiracy to distribute controlled substances
    • Possession of a firearm by a convicted felon
    Aaliyah Hackett, 23
    • Conspiracy to distribute controlled substances
    • Unlawful use of a cell phone
    Emorrie J. Dunn, 26
    • Conspiracy to distribute controlled substances
    Chancelor R. Walker, 38
    • Conspiracy to distribute controlled substances
    D’Ericka Lee, 30
    • Conspiracy to distribute controlled substances
    Lamar T. Browning, 39
    • Conspiracy to distribute controlled substances
    Mark C. Marshall, 57
    • Conspiracy to distribute controlled substances

    This was a multi-agency operation, involving ten agencies who assisted with the investigation and the arrests on the morning of March 21, 2025. Law enforcement has asked the public for assistance in locating fugitive Lamar T. Browning. He should be considered armed and dangerous. Those with information are asked to call 1-800-CALL-FBI.

    According to the indictment, all 14 defendants allegedly operated a drug trafficking conspiracy, selling meth, fentanyl, cocaine and heroin out of several trap houses in Indianapolis.

    Some members of the conspiracy allegedly committed multiple acts of violence, including murder, firing gunshots, throwing Molotov cocktails at a home, kidnapping, and pistol-whipping in order to intimidate drug customers and rival drug dealers The violence was used as a tool to collect money owed to them by their drug customers, to protect the locations that they used to distribute drugs, and to retaliate against potential witnesses.

    Specifically, Nahamani Sargent allegedly fired gunshots and threw Molotov cocktails at the home of a customer, believing that the victim had provided information about the conspiracy to law enforcement.

    Additionally, Tanesha Turner allegedly kidnapped a victim at gunpoint and held them for ransom because they owed $40. Tre Dunn then allegedly shot the same victim for owing money and providing information to law enforcement.

    Tre Dunn also allegedly aided and abetted the murder of a man because he disrespected him and his associate during a failed drug deal. Tanesha Turner then allegedly aided Dunn by driving him to another location following the murder to prevent his arrest.

    If convicted, each defendant faces up to life in federal prison.

    The following investigative agencies collaborated to make this investigation and recent warrant execution possible:

    • Federal Bureau of Investigation (Indianapolis, Chicago, and Cincinnati SWAT)
    • Indianapolis Metropolitan Police Department, SWAT
    • Fishers Police Department, SWAT
    • Drug Enforcement Administration
    • United States Department of Agriculture
    • Indiana Capitol Police Department
    • Indiana Department of Homeland Security
    • Johnson County Sheriff’s Department

    Acting U.S. Attorney Childress thanked Assistant U.S. Attorneys Bradley A. Blackington and Kelsey Massa, who are prosecuting this case.

    This investigation 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). This operation is part of the Indiana High Intensity Drug Trafficking Areas (HIDTA) program.

    An indictment or criminal complaint are merely allegations, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    ###

    MIL Security OSI

  • MIL-OSI USA: ICE, partners’ rapid response locate suspect at Newark airport attempting to flee the US

    Source: US Immigration and Customs Enforcement

    NEWARK, N.J. – U.S. Immigration and Customs Enforcement, assisted by New York/New Jersey Port Authority Police, the United States Customs and Border Protection and Federal Air Marshals Service, located and apprehended a Hungarian national at the Newark Liberty International Airport March 13 who was wanted for allegedly raping a child.

    Mihaly Bodner was arrested on a Hornell City Court warrant for first degree statutory rape of a child under 13 years of age by ICE Homeland Security Investigations Newark.

    “When our team at Newark’s airport received a call from HSI Buffalo that the suspect was believed to be attempting to flee the United States, they immediately coordinated a search for the individual” said ICE Homeland Security Investigations Newark Special Agent in Charge Ricky J. Patel. “I commend the efficiency of the subject matter experts who utilized their skills and advanced technology to locate the target without incident. Their actions proved how the partnership of law enforcement agencies is the most valuable resource in leading investigations and achieving mission success.”

    Bodnar admitted to law enforcement that he was attempting to flee the country on an outbound international flight the same day. He will be prosecuted by the Stueben County District Attorney’s Office, New York.

    “This is the way law enforcement is supposed to work – together,” said Steuben County District Attorney Brooks Baker. “Using experience and expertise to maximize all available resources, city, county and federal agencies were able to take a child predator off the streets to face justice.”

    Sgt. Tom Aini, an investigator with the Hornell County Police Department in New York was credited with confirming the identity of the suspect and rapidly engaging with other law enforcement partners to assist in the arrest and prevent Bodnar from leaving the United States.

    Stueben County DA said Bodnar could face up to 25 years in prison.

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

    MIL OSI USA News

  • MIL-OSI Europe: Answer to a written question – Support for viniculture in Greece – E-000471/2025(ASW)

    Source: European Parliament

    Under the current Common Agricultural Policy (CAP) support through the CAP Strategic Plans is granted in response to needs identified for various sectors and areas including the wine sector.

    Possible support schemes also include dedicated sectoral interventions for wine. In its Strategic Plan 2023-2027, Greece has chosen to implement five interventions: restructuring and reconversion of vineyards, investment, green harvesting, promotion carried out in third countries, and information actions. The total budget allocated is slightly over EUR 23 million per year.

    In September 2024, a High-Level Group (HLG) on wine policy was established to explore possible solutions that could enhance the sector’s long-term competitiveness and sustainability.

    The HLG endorsed a set of recommendations addressing the production potential, increasing resilience to market and climate challenges, and adapting to new market opportunities.

    The most urgent and sector-specific recommendations will be implemented swiftly through a specific legislative proposal (‘wine package’) that will be adopted in the coming weeks.

    The CAP Strategic Plans also include support to help generational renewal, including in the wine sector. Additionally, young winemakers are strongly encouraged to form producer organisations allowing them to strengthen their position in the supply chain.

    Although Greece has never planned ‘firebreak vineyards’ in the CAP Strategic Plan, it could by amending the plan, for example, under the sectoral intervention ‘Investments’.

    Last updated: 25 March 2025

    MIL OSI Europe News

  • MIL-OSI Security: Camden County Company Settles Matter Alleging Receipt Of Improper Cares Act Loans

    Source: Office of United States Attorneys

    Newark, N.J. – A furniture rental company based in Pennsauken, New Jersey entered into a settlement agreement with the United States resolving allegations that the company violated the False Claims Act by taking a Paycheck Protection Program (PPP) loan to which it was not entitled, United States Attorney John Giordano announced today.

    According to the allegations in the complaint and the contentions of the United States in the settlement agreement:

    In January 2021, American Furniture Rentals, Inc. (AFR) applied for and received a $2 million PPP loan.  Under the eligibility rules in effect at that time, a company was required to have 300 employees or less to qualify for a PPP loan. Despite the fact that AFR had more than 300 employees at the time, AFR certified in its loan application that it was eligible to participate in the PPP program. After receiving the PPP loan, AFR sought and received forgiveness of the total amount of the loan, plus interest that had accrued.

    AFR fully cooperated in the investigation and resolution of this matter. In accordance with the terms of the settlement agreement, AFR will pay the United States $2,907,703. The settlement resolves a lawsuit filed under the whistleblower provision of the False Claims Act, which permits private parties, called relators, to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery.

    The government is represented by Assistant U.S. Attorney David V. Simunovich of the Health Care Fraud Unit in Newark.

    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 Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    The qui tam case is captioned United States ex rel. Verity Investigations, LLC v. American Furniture Rentals, Inc., 24-7540 (D.N.J.).

    25-086                                                             ###

    Counsel for American Furniture Rentals, Inc.: Brian K. Kidd, Esq., Washington, D.C.

    Counsel for Relator Verity Investigations, LLC: Steven Shepard, Esq., New York, NY

    MIL Security OSI

  • MIL-OSI Security: Boston Man Sentenced to 28 Years in Prison for Sexually Exploiting Minors

    Source: Office of United States Attorneys

    BOSTON – A Boston man was sentenced yesterday in federal court in Worcester for child exploitation offenses.

    Jalen Latimer, 26, of Roxbury, was sentenced by U.S. District Court Judge Margaret R. Guzman to 28 years in prison, to be followed by 15 years of supervised release. The defendant was also ordered to pay restitution in an amount to be determined at a later date. In December 2024, Latimer pleaded guilty to one count of conspiracy to commit sex trafficking and two counts of sexual exploitation of a minor. Latimer is currently serving a state prison sentence on related offenses. The defendant was previously charged by criminal complaint with one count of sexual exploitation of a minor on Feb. 16, 2024.

    In July 2022, Latimer and another adult recorded themselves raping a ten year old. The minor victim’s five year old sibling was used to create the recording of the sexual assault. Over a year later, in July 2023, Latimer conspired with that same adult to arrange the sexual assault of another child. Latimer was asked to pay $50 for the child, however, Latimer offered $20 and marijuana.

    Latimer was arrested in January 2024. He was subsequently convicted by state authorities in Worcester Superior Court of three counts of aggravated rape of a child, four counts of aggravated indecent assault and battery on a child and human trafficking of a minor. On March 17, 2024, he was sentenced to 15 years in state prison which will run concurrent with the federal sentence.

    United States Attorney Leah B. Foley; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; Worcester Police Chief Paul B. Saucier; and Oxford Police Chief Michael K. Daniels made the announcement. Valuable assistance was provided by Rhode Island State Police and Massachusetts State Police. Assistant U.S. Attorney Kristen M. Noto of the Worcester Branch Office prosecuted the case.

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

    MIL Security OSI

  • MIL-OSI Security: Two Plead Guilty to Roles in COVID-19 Fraud Conspiracy

    Source: Office of United States Attorneys

    CHARLESTON, W.Va. – Today, William Powell, 34, of Huntington, pleaded guilty to conspiracy to commit bank fraud, and Jasmine Spencer, 32, of Charleston, pleaded guilty to aiding and abetting bank fraud. Powell and Spencer each received $15,625 in proceeds from criminally derived Paycheck Protection Plan (PPP) loans, guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

    According to court documents and statements made in court, co-defendant Kisha Sutton conspired with Powell, Spencer, and others to obtain fraudulent PPP loans. Sutton submitted a PPP loan application on Powell’s behalf on April 19, 2021, and a PPP loan application on Spencer’s behalf of May 27, 2021. Powell and Spencer were each listed as a sole proprietor hair stylist who received $75,000 in gross income in 2020. Each application was filed with an Internal Revenue Service (IRS) Form 1040, Schedule C Profit or Loss from Business, stating that the applicant had earned $75,000 in 2020. As part of their guilty pleas, Powell and Spencer admitted that they never earned $75,000 as a hair stylist in one year and that the IRS Form 1040 submitted with their application was fraudulent and created solely to obtain the PPP loan.

    A PPP lender in Florida approved Powell’s loan application and a PPP lender in California approved Spencer’s. The $15,625 in proceeds from each loan was deposited in their respective personal bank accounts in late June 2021. Between June 30 and July 20, 2021, Sutton received $2,000 from Powell and $3,000 from Spencer as her shares of the fraudulent PPP loan proceeds. Powell and Spencer each transferred the money to Sutton using a digital wallet application. Powell and Spencer spent the remainder of their respective fraudulent loan proceeds on personal expenses.

    The CARES Act made forgivable PPP loans available to qualifying sole proprietors, independent contractors and self-employed individuals adversely impacted by the COVID-19 pandemic, to replace their normal income and for certain other expenses. Applicants were required to certify that they were in operation on February 15, 2020, and provide documentation showing their prior gross income from either 2019 or 2020.

    Powell is scheduled to be sentenced on July 2, 2025, and Spencer is scheduled to be sentenced on July 9, 2025. Each faces a maximum penalty of 30 years in prison, up to five years of supervised release, and a $1 million fine. Powell and Spencer each also owe $15,625 in restitution.

    Powell, Spencer, and Sutton, 44, of Jersey City, New Jersey, are among seven individuals indicted by a federal grand jury on charges alleging they and others conspired, as well as aided and abetted one another, to obtain fraudulent PPP loans totaling $140,625. The indictment against Sutton and the other defendants remains pending. An indictment is merely an allegation and all defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

    Acting United States Attorney Lisa G. Johnston made the announcement and commended the investigative work of the Federal Bureau of Investigation (FBI), the West Virginia State Police – Bureau of Criminal Investigation (BCI), and the West Virginia State Auditor’s Office (WVSAO) Public Integrity and Fraud Unit (PIFU).

    United States District Judge Irene C. Berger presided over the hearings. Assistant United States Attorneys Jonathan T. Storage, Jennifer D. Gordon, and Holly Wilson are prosecuting the case.

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

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 2:24-cr-192.

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    MIL Security OSI

  • MIL-OSI USA: Sen. Warner Speaks at Senate Intelligence Committee Hearing

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    BROADCAST-QUALITY VIDEO OF SEN. WARNER’S OPENING REMARKS IS AVAILABLE HERE

    WASHINGTON – Today, Vice Chairman of the Senate Select Committee on Intelligence Sen. Mark R. Warner (D-VA) delivered opening remarks at the Intelligence Committee’s annual Worldwide Threats Assessment hearing.

    Sen. Warner’s opening remarks as delivered are below:

    Well, thank you, Mr. Chairman, and good morning, everybody, and I want to thank all the witnesses for being here.

    I got to say, I’ve been on the committee now for 14 years, and this year’s assessment is clearly one of the most complicated and challenging in my tenure on the committee.

    And I want to get into that in a moment, but I want to, first of all, address the recent story that broke in the news.

    Yesterday, we stunningly learned that senior members of this administration and according to reports, two of our witnesses here today, were members of a group chat that discussed highly sensitive and likely classified information that supposedly even included ‘weapons packages, targets and timing,’ and included the name of an active CIA agent.

    Putting aside for a moment that classified information should never be discussed over an unclassified system, it’s also just mind boggling to me that all these senior folks were on this line and nobody bothered to even check, security hygiene 101…

    Who are all the names? Who are they?

    Well, it apparently includes a journalist.

    And no matter how much the Secretary of Defense or others want to disparage him, this journalist had at least the ethics to not report everything he heard.

    The question I raise is: everybody on this committee gets briefed on security protocols. They’re told you don’t make calls outside of SCIFs of this kind of classified nature.

    Director Gabbard is the executive in charge of all keeping our secrets safe. Were these government devices? Or were they personal devices? Have the devices been collected to make sure there’s no malware?

    There’s plenty of declassified information that shows that our adversaries, China and Russia, are trying to break in to encrypted systems like Signal.

    I can just say this. If this was the case of a military officer, or an intelligence officer, and they had this kind of behavior, they would be fired. I think this is one more example of the kind of sloppy, careless, incompetent behavior, particularly towards classified information, that this is not a one off or a first time error.

    Let me take a couple of minutes and review some of the other reckless choices that this administration has made regarding our national security. We all recall it seems like it wasn’t that long ago, but less than two months ago, in the first two weeks, the administration canceled all U.S. foreign assistance.

    Now, some may say, how can that how bad can that be, its foreign assistance?

    Well, U.S. foreign assistance paid for the units in Ukraine to provide air defense to civilian cities being attacked by Russia.

    Foreign assistance paid for guarding camps in Syria, where ISIS fighters are to be detained.

    Foreign assistance paid for programs abroad that ensure that diseases like Ebola don’t come home.

    And until recently, it paid for the construction of a railway in Africa that would have help given the United States much needed access to critical minerals in Congo.

    Now that project… China is going to try to finance it as well.

    In the first two weeks, the administration fired several of our most experienced FBI agents, including the head of the criminal Investigative submission, the head of the intelligence division, the head of the Counterterrorism division, the heads of the New York, Washington and Miami field office, all individuals who were distinctly and directly responsible for helping to keep America safe.

    The irony a little bit, was the recently dismissed head of the counterterrorism division was involved in disrupting the ISIS attacks planned for Oklahoma City and Philadelphia and helped lead the effort to bring to justice the key planner of the Abbey Gate bombing in Afghanistan, who killed 13 U.S. servicemen and 150 civilians.

    That very Abbey Gate effort was actually praised by the president in his state of the Union address.

    The administration’s response to these agents’ good works and years of service was to force these folks out.

    It’s hard to imagine how that makes our country safer.

    Nor can I understand how Americans are made more secure by firing more than 300 staff at the National Nuclear Security Administration, including those responsible for overseeing the security and safety of the nuclear stockpile, or by ousting 130 employees at CSA.

    The agency directly responsible for trying to take on China’s salt typhoon attack again. After Salt Typhoon, I would have thought folks on that group chat might have thought twice.

    Or how are we made safer by sacking a thousand employees at the CDC and NIH. We’re actually directly working on trying to keep our country safe from disease by pushing out hundreds of intelligence officers.

    The amazing thing is our intelligence officers, they’re not interchangeable like a Twitter coder. Our country makes $20,000 to $40,000 of an investment just in getting a security clearance.

    It literally goes into six figures when you take the training involved. Can anyone tell how firing probationary individuals without any consideration for merit or expertise is an efficient use of taxpayer dollars?

    And just to make clear that yesterday’s story in the Atlantic was not this rookie one-off, it’s a pattern.

    I want to acknowledge Director Ratcliffe was not here in his position with this took place.

    But again, earlier in the administration, when a new unclassified network was used, thereby exposing literally hundreds of CIA officers’ identities.

    Those folks can’t go into the field now.

    How does that make our government more efficient?

    You know, again, this pattern of an amazing, cavalier attitude towards classified information is reckless and sloppy.

    And perhaps what troubles me most is the way the administration has decided that we can take on all of our problems by ourselves without any need for friends or allies.

    I agree that we’ve got to put America’s priorities first, but American first cannot mean America alone.

    The intelligence we gather to keep Americans safe depends on a lot of allies around the world who have access to sources that we don’t have.

    That’s sharing of information saves lives. And it’s not hypothetical.

    We all remember (because it was declassified) last year when Austria worked with our community to make sure to expose a plot against Taylor Swift in Vienna that could have killed literally hundreds of individuals.

    However, these relationships are not built in stone. They’re not dictated by law. Things like the Five Eyes are based on trust built on decades, but so often that trust is now breaking literally overnight.

    Yet suddenly, for no reason that I can understand, the United States is starting to act like our adversaries are our friends. Voting in the UN with Russia, Belarus and North Korea. It’s a rogues gallery if ever heard one.

    Treating our allies like adversaries, whether it’s threats to take over Greenland or over the Panama Canal, a destructive trade war with Canada, or literally threatening to kick Canada out of the Five Eyes, I feel our credibility is being enormously undermined with our allies, who I believe, and I think most of us on this committee, regardless of party believes, makes our country safer and stronger.

    But how can our allies ever trust us as the kind of partner we used to be when we, without consultation or notice, for example, stop sharing information to Ukraine in its war for survival against Russia. Or how can our allies not only not trust our government, but potentially not our businesses with such arbitrary political decision?

    Let me give you a few examples. You know, as a result of a lot of work from this committee and others in Congress, we made sure America’s commercial space industry is second to none from space to launch to commercial sensing and communications.

    The United States has taken a lead. Yet overnight, this administration called into question the reliability of American commercial tech industry.

    When maps are and other commercial space companies were directed to stop sharing intelligence with Ukraine.

    I’m going to tell you… I’m a business guy. Can’t say longer than being an elected official, but pretty close. That shockwave across all of commercial space and frankly, not just commercial space. I’ve heard it from some of our hyperscalers, in the tech community, has sent an enormous chill.

    Who’s going to hire an American commercial space company, government or foreign business with the ability to have that taken down so arbitrarily?

    It’s not just in the case of commercial space.

    We’ve seen that Canada, Germany, Portugal have all been saying they’re rethinking buying F-35s.

    I’ve heard from Microsoft and Google directly, and Amazon that they’re having questions about whether they can still sell their services.

    We’ve also seen foreign adversaries and friends take advantage of this RIF in our national security areas, and our scientists.

    Germany has already put out ads trying to attract some of our best scientists who’ve been RIFed and the Chinese intelligence agencies are posting on social media sites in the hopes of luring individuals with that national security clearance who’ve been pushed out, perhaps arbitrarily, to come into their service.

    So, no, the signal fiasco is not a one off. It is, unfortunately, a pattern we’re seeing too often repeated.

    I fear that we feel the erosion of trust from our workplace, from our companies, and from our allies and partners can’t be put back in the bottle overnight. Make no mistake, these actions make America less safe.

    Thank you, Mr. Chairman.

    MIL OSI USA News

  • MIL-OSI: Quadravest Preferred Split Share ETF Financial Results to December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 25, 2025 (GLOBE NEWSWIRE) — Quadravest Preferred Split Share ETF (“Preferred ETF”) announces that its annual financial statements and management report of fund performance for the period ended December 31, 2024 are now available at www.sedarplus.com and Preferred ETF’s website at www.quadravest.com.

    For further information, please contact Investor Relations at 416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372), or visit www.quadravest.com.

    The MIL Network

  • MIL-OSI Africa: Congo Energy & Investment Forum (CEIF) 2025: Congo Offers Attractive Tax Policies for Oil & Gas (O&G) Investors

    Source: Africa Press Organisation – English (2) – Report:

    BRAZZAVILLE, Congo (Republic of the), March 25, 2025/APO Group/ —

    The Republic of Congo’s Ministry of Hydrocarbons has announced it is working to improve the attractiveness of taxation in the hydrocarbons sector to fully realize the potential of the country’s hydrocarbons market.

    Speaking during the Technical Conference at the inaugural Congo Energy & Investment Forum (CEIF) – From Resources to Revenue: Developing the Republic of Congo’s Gas Sector – Jean-Jacques Ikama, Director General of Oil Economy, Audit and Trading, Ministry of Hydrocarbons, Congo explored the conditions and mechanisms for companies entering the country’s oil and gas sector.

    “Oil and gas activities can serve as a basis for the creation and operationalization of a very dynamic local market,” stated Ikama, adding, “We aim to redefine the hydrocarbons sector in our country and improve the conditions of exploration and production.”

    In addition to good taxation conditions and guaranteed frameworks, Congo has taken proactive steps to enhance its energy sector’s appeal to investors. The government will launch a new licensing round at CEIF, targeting accelerated oil and gas exploration and production activities.

    Meanwhile, Congo’s parastatal Société Nationale des Pétroles du Congo is set to release its Gas Master Plan at CEIF 2025. The plan aims to advance the country’s gas monetization agenda by catalyzing new infrastructure development, including gas pipelines, processing facilities and gas-to-power plants. The plan also seeks to reduce energy imports and raise electricity access, which currently stands at 50%.

    A new Gas Code, expected in 2025, will provide a clear legislative framework for gas monetization, fiscal terms and resource management. The draft was presented to gas companies in late 2023 and is set for final approval in the coming months.

    Key gas monetization initiatives in the country include energy major Eni’s Congo LNG project and Chinese developer Wing Wah’s Banga Kayo project. These projects highlight the country’s dedication to advancing its energy infrastructure and diversifying revenue streams within the sector.

    These efforts positions Congo as an increasingly competitive and attractive destination for global energy investments.

    MIL OSI Africa

  • MIL-OSI Security: Principals of Fire Alarm Repair Company Plead Guilty to Decade-Long Scheme to Defraud New York City Agencies

    Source: Office of United States Attorneys

    Defendants Overbilled City Agencies Using Fabricated Invoices with Fraudulently Inflated Prices and Shell Companies

    Earlier today, in federal court in Brooklyn, Walter Stanzione and William Neogra, the principals of a fire alarm maintenance company, pleaded guilty to wire fraud conspiracy.  Both defendants were charged with a decade-long scheme to defraud the City of New York by seeking payment on millions of dollars of grossly inflated fraudulent bills.  The proceedings were held before United States Magistrate Judge Joseph A. Marutollo.  When sentenced, each defendant faces up to 20 years in prison.

    John J. Durham, United States Attorney for the Eastern District of New York, Leslie R. Backschies, Acting Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI), Jocelyn E. Strauber, Commissioner, New York City Department of Investigation (DOI) and Harry T. Chavis, Jr., Special Agent in Charge, Internal Revenue Service Criminal Investigation, New York (IRS-CI New York) announced the charges.

    “For over a decade, the City of New York relied on the defendants to ensure that the fire safety systems in hundreds of city buildings were in safe, working order,” stated United States Attorney Durham. “The defendants abused this position of trust so that they could scheme and steal, defrauding New York City out of millions of dollars.  The guilty pleas announced today make clear that reprehensible conduct like this will be uncovered and prosecuted.”

    “Millions of dollars went up in smoke as Walter Stanzione and William Neogra fraudulently inflated the cost of their company’s products to finance personal luxurious purchases,” stated Acting FBI Assistant Director in Charge Backschies.  “For more than ten years, the defendants charged various New York City clients exaggerated pricing for fire alarm systems and obfuscated this misconduct through doctored invoices.  The FBI remains determined to protect our city’s citizens and infrastructure from criminals seeking to unlawfully profit with little concern for safety.”

    “Stanzione and Neogra orchestrated a scheme to defraud the City of New York.  They created shell companies to pass-through supplies sold to NYC agencies at inflated prices with false invoices.  Millions of dollars were billed over a decade, and the excessive profit left these fraudsters living large.  Today’s plea means the defendants’ lifestyle will go from extravagant in size to a reduction in square feet,” stated IRS-CI New York Special Agent in Charge Chavis.

    “These defendants systematically inflated costs billed to multiple City agencies—including the Department of Citywide Administrative Services, the Department of Education, the Department of Environmental Protection, and the Department of Sanitation, for more than a decade,” stated DOI Commissioner Strauber.  “When vendors exploit their contractual relationship with the City by overbilling, they steal public funds from City taxpayers.  I thank our federal law enforcement partners for their commitment to protect the City’s resources and to ensure vendors who commit fraud are held responsible.”

    As set forth in various public court filings and in today’s proceedings, the defendants exercised control over Fire Alarm Electrical Corp., a company that held numerous contracts with New York City agencies to repair and maintain fire alarm systems.  For more than a decade, the defendants overbilled those agencies by submitting fraudulent invoices with dramatically inflated prices.  They accomplished this scheme in several ways:

    • The defendants created numerous shell companies that were secretly owned by defendant Stanzione.  After purchasing supplies from legitimate retailers, the defendants would re-invoice the parts through the shell companies for roughly three to five times the real purchase price, ultimately passing along those “costs” to the City.
    • The defendants took advantage of pre-existing shell companies that were being used in other ongoing frauds.  For example, the defendants used shell companies created by convicted EDNY defendant David Motovich, which Motovich had used in an entirely separate fraud scheme that was also investigated and prosecuted by EDNY, FBI, DOI and IRS (21-CR-497).
    • When city auditors became suspicious of the shell companies, the defendants fraudulently modified the documents of legitimate retailers, passing off the altered invoices from these companies as if they were genuine.

    These methods enabled the defendants to submit millions of dollars of fictitious payment requests to four separate city agencies over an eleven-year period.  Defendant Stanzione, the leader of the fraud, then siphoned off much of the ill-gotten gains and used the stolen money to fund his family’s lavish spending habits.

    The government’s case is being handled by the Office’s Public Integrity Section.  Assistant United States  Attorneys Erik Paulsen, Michael Gibaldi and Eric Silverberg are in charge of the prosecution, with the assistance of Paralegal Specialist Kavya Kannan.

    The Defendants:

    WALTER STANZIONE
    Age: 66
    East Meadow, Long Island

    WILLIAM NEOGRA
    Age: 65
    Millsboro, Delaware

    E.D.N.Y. Docket No. 23-CR-482 (RPK)

    MIL Security OSI