NewzIntel.com

Category: Finance

  • MIL-OSI Asia-Pac: Air Accident Investigation Exchange Forum 2025 deepens regional collaboration on aviation safety (with photos)

    Source: Hong Kong Government special administrative region

    The Air Accident Investigation Exchange Forum 2025, hosted by the Air Accident Investigation Authority (AAIA) in Hong Kong for three consecutive days from March 12, concluded today (March 14). Other participating investigation authorities were the Office of Aviation Safety and the Aviation Accident Investigation Center of the Civil Aviation Administration of China (CAAC), the Transport Safety Investigation Bureau (TSIB) of Singapore and the Accident Prevention and Investigation Group of the Civil Aviation Authority of Macao (AACM).

    This regional forum was the first of its kind organised by the AAIA since its inception in 2018. Riding on the theme “Regional Investigative Synergy, Aviation Safety Excellence”, the forum attracted professional representatives from investigation authorities from the Mainland, Singapore, Macao and Hong Kong. It aimed to deepen regional ties, share forefront investigation experiences, exchange latest investigation methodologies and technological advancements with a view to strengthening aviation safety.   

         Deputy Secretary for Transport and Logistics Ms Joan Hung welcomed and thanked the distinguished representatives for joining the forum in Hong Kong. She said that the forum’s foundation was actually underpinned by the close collaboration among the investigation authorities of the four places over the years, symbolising their mutual commitment in enhancing aviation safety. The Chief Accident and Safety Investigator of the AAIA, Mr Man Ka-chai, highlighted in his keynote speech the significance of fostering mutual collaboration among the authorities in safeguarding aviation safety. The forum, he said, served as a dynamic interactive platform for partner authorities to deliberate the best solutions to the latest challenges in civil aviation investigations.

    The Safety Oversight Commissioner of the CAAC and Director of the CAAC Office of Aviation Safety, Captain Zhu Tao; the Director of TSIB of Singapore, Mr Michael Toft; and the President of the AACM, Mr Stanley Pun, also delivered speeches at the forum.

    Through a series of presentations, case studies and thematic seminars, this three-day forum allowed participating guests to share their insights and delve into the latest investigation techniques, human factors analyses and methods of introducing the evaluation of organisational/systematic factors into investigative processes, etc. The participants also visited the Airport Meteorological Office of the Hong Kong Observatory and inspected the aircraft accident recovery equipment and supporting tools managed by the Airport Authority Hong Kong to learn more about the supportive measures in place at Hong Kong International Airport for safeguarding aviation safety.

    The AAIA had established co-operation arrangements with the CAAC, TSIB of Singapore and AACM individually to strengthen the regional collaborative ties, covering exchanges and sharing of information, experiences, facilities and equipment. The co-operation arrangements are available at the AAIA webpage (www.tlb.gov.hk/aaia/eng/about_us/cooperation_arrangements/index.html). 

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Investment Promotion and Protection Agreement between Hong Kong and Bahrain to enter into force on March 21

    Source: Hong Kong Government special administrative region

    The Investment Promotion and Protection Agreement (IPPA) signed between Hong Kong and Bahrain in March last year will enter into force on March 21, following the completion of the two sides’ respective internal procedures required.

    Under the IPPA, the two governments undertake to provide investors of the other side with fair, equitable and non-discriminatory treatment of their investments, compensation in the event of expropriation of investments, and the right to free transfers abroad of investments and returns. The IPPA also provides for settlement of investment disputes under internationally accepted rules, including arbitration.

    The Secretary for Commerce and Economic Development, Mr Algernon Yau, said, “By enabling investors of Hong Kong and Bahrain to enjoy corresponding protection of their investments in the host economies, the IPPA will enhance confidence of investors, expand investment flows and further strengthen the economic and trade ties between the two places.

    “The Government has been actively seeking to expand Hong Kong’s global economic and trade networks with a view to assisting enterprises and investors in opening up markets. We are exploring the signing of IPPAs with Saudi Arabia, Bangladesh, Egypt and Peru, as well as exploring IPPAs or free trade agreements with emerging markets including potential partners in the Middle East and other regions along the Belt and Road,” he added.

    The IPPA with Bahrain is the second of its kind signed by the current-term Government, following the IPPA signed with Türkiye. It is also the 24th investment agreement that Hong Kong has signed with a foreign economy.

    The other foreign economies that have signed IPPAs with Hong Kong are the Association of Southeast Asian Nations, Australia, Austria, the Belgo-Luxembourg Economic Union, Canada, Chile, Denmark, Finland, France, Germany, Italy, Japan, Korea, Kuwait, Mexico, the Netherlands, New Zealand, Sweden, Switzerland, Thailand, the United Arab Emirates and the United Kingdom.

    MIL OSI Asia Pacific News –

  • MIL-OSI: CareCloud Announces Preferred Stock Dividend Payments

    Source: GlobeNewswire (MIL-OSI)

    SOMERSET, N.J., March 14, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and generative AI solutions for medical practices and health systems nationwide, announced today that its Board of Directors (the “Board”) has declared monthly cash dividends for its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”) and its 8.75% Series B Cumulative Redeemable Perpetual Preferred Stock (“Series B Preferred Stock”) for March and April 2025.

    The following table shows the monthly dividends and associated record and payment dates:

        March 2025     April 2025  
    Series A dividend per share   $ 0.18229     $ 0.18229  
    Series A additional payment per share   $ 0.04688     $ 0.04688  
    Series B dividend per share   $ 0.18229     $ 0.18229  
    Ex-dividend date     March 31, 2025       April 30, 2025  
    Record date     March 31, 2025       April 30, 2025  
    Payment date     April 15, 2025       May 15, 2025  

    Holders of shares of the Series A Preferred Stock as of the record date are entitled to receive cumulative cash dividends at the rate of 8.75% per annum of the $25.00 per share liquidation preference (equivalent to $2.1875 per annum per share). Additionally, since this payment will be credited against the oldest dividend due (at which point in time, the cash dividend rate was 11% per annum), the Board authorized an additional payment equal to 2.25% per share of Series A Preferred Stock. For clarity, previous holders of Series A Preferred Stock that were converted on March 6, 2025, already received dividends paid in shares up and through March 6, 2025, and will not receive either the dividend payment or the additional payment per share.

    Holders of shares of the Series B Preferred Stock as of the record date are entitled to receive cumulative cash dividends at the rate of 8.75% per annum of the $25.00 per share liquidation preference (equivalent to $2.1875 per annum per share).

    Dividends on the Series A Preferred Stock and Series B Preferred Stock are cumulative and payable monthly on the 15th day of each month; provided that if any dividend payment date is not a business day, then the dividend may be paid on the next succeeding business day. Dividends are payable to holders of record on the applicable record date, which shall be the last day of the calendar month, whether or not a business day.

    About CCLDP

    Due to the mandatory conversion of the Series A Preferred Stock into common stock on March 6, 2025, the Company formally notified the Nasdaq Stock Market LLC of its intent to voluntarily delist its Series A Preferred Stock from the Nasdaq Global Market since the security no longer complies with Nasdaq’s continued listing requirements. The Company may, at its option, upon not less than 30 nor more than 60 days’ written notice, redeem additional shares of the Series A Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon to, but not including, the date fixed for redemption.

    About CCLDO

    CareCloud’s Series B Preferred Stock trades on the Nasdaq Global Market under the ticker symbol “CCLDO.” Commencing on February 15, 2024, the Company may, at its option, upon not less than 30 nor more than 60 days’ written notice, redeem the Series B Preferred Stock, in whole or in part, at any time or from time to time, for cash at redemption prices of either $25.50 per share (for redemptions on and after February 15, 2025 and prior to February 15, 2026), $25.25 per share (for redemptions on and after February 15, 2026 and prior to February 15, 2027), or $25.00 per share (for redemptions on and after February 25, 2027), plus any accumulated and unpaid dividends thereon to, but not including, the date fixed for redemption. Upon the occurrence of a Change of Control, the Company may, at its option, upon not less than 30 nor more than 60 days’ written notice, redeem the Series B Preferred Stock, in whole or in part, within 120 days after the first date on which such Change of Control occurred, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon to, but not including, the redemption date.

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Disclaimer

    This press release is for information purposes only, and does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could”, “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:
    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:
    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com

    The MIL Network –

  • MIL-OSI: Indkaldelse til ordinær generalforsamling

    Source: GlobeNewswire (MIL-OSI)

    Hermed indkalder Kapitalforeningen BLS Invest til ordinær generalforsamling tirsdag den 8. april 2025.

    Indkaldelse med dagsorden er vedhæftet og vil tillige være at finde på foreningens hjemmeside www.blsinvest.dk  

    Efter generalforsamlingen vil foreningens porteføljeforvalter, BLS Capital, afholde deres årlige møde med præsentation af investeringsfilosofi, tilgang til selskabsvalg og andre relevante emner.

    Eventuelle henvendelser vedrørende denne meddelelse kan rettes til foreningens bestyrelses­formand, Chris Bigler, på tlf. 29 74 06 55.

    Med venlig hilsen

    Kapitalforeningen BLS Invest

    Attachment

    The MIL Network –

  • MIL-OSI Security: Dumfries man sentenced to over 19 years in prison for a series of armed robberies and fentanyl possession

    Source: Office of United States Attorneys

    ALEXANDRIA, Va. – A Dumfries man was sentenced today to 19 years and two months in prison for conspiracy to commit armed robbery and possession with intent to distribute controlled substances, including fentanyl.

    According to court documents, from March 6, 2024, through March 27, 2024, Dwayne Selman-Neville, 38, and a co-conspirator, Al Gibran Taylor, 42, of Reston, conspired to rob multiple local businesses throughout Northern Virginia.

    On March 8, 2024, Taylor entered a Starbucks in Herndon, jumped over the store’s counter, and pointed a handgun at employees. Taylor ordered the employees to open the store’s safe and give him cash. Taylor left the store with stolen money and fled with Selman-Neville who was waiting nearby in a vehicle.

    On March 11, 2024, Selman-Neville entered a check cashing store in Chantilly dressed as an Amazon delivery driver and carrying a cardboard box with an Amazon.com logo on it. Selman-Neville showed a cashier a piece of paper on the clipboard that stated, among other things, “This is a robbery.” Selman-Neville then grabbed the cashier’s arm and pushed her toward the store’s safe. When the cashier attempted to press a panic button, Selman-Neville said, “No, don’t do that, I’m going to kill you.” At Selman-Neville’s demand, the cashier took a tray of cash from the safe and gave it to him. Selman-Neville ran out of the store and fled with Taylor, who was waiting nearby in a vehicle. 

    On March 14, 2024, Selman-Neville and Taylor approached a drive-through window at a bank in Herndon. Either Selman-Neville or Taylor handed the drive-through teller a note stating, among other things, “This is a bank robbery. Follow your training and follow my instructions. I have an associate inside the bank right now, who is ready to kill on my signal.” The note demanded money from the bank and stated, “If you comply, no one will get hurt.” The teller left the drive-through window for a short period of time, and Selman-Neville and Taylor drove away before they could obtain any money.

    On March 14, 2024, Selman-Neville, again disguised as an Amazon delivery driver, entered a check cashing store in Annandale and spoke with the store’s cashier, who was behind a window. Approximately 40 seconds later, Selman-Neville walked out of the store after the cashier, who did not speak English, was unable to understand what Selman-Neville was saying to her.

    On March 26, 2024, Taylor was arrested by federal authorities for a different offense and detained pending trial.

    On March 27, 2024, Selman-Neville robbed a check cashing store in Woodbridge, once again dressed as an Amazon delivery driver. He drove to the store in a vehicle that he and Taylor had rented together the previous week. The store’s cashier area was separated by a window and a locking door from customers. As Selman-Neville approached the window, a cashier opened the door and took an Amazon box from Selman-Neville. Selman-Neville then grabbed this cashier by the arm and pushed her toward a cash register. Selman-Neville pointed a handgun at the cashier and another employee and ordered them to give him money. The employees complied and Selman-Neville ran to the rental vehicle and fled.

    On April 15, 2024, law enforcement arrested Selman-Neville and searched a residence where he had been staying. Investigators found clothes that Selman-Neville wore during some of the robberies, including a vest with an Amazon logo. They also found 280 counterfeit oxycodone pills containing fentanyl, 136 pills containing oxycodone, 46.37 grams of solid pink material containing methamphetamine, 26.07 grams of solid material containing dipentylone, and 7.23 grams of cocaine hydrochloride.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia, and Sean Ryan, Special Agent in Charge of the FBI Washington Field Office’s Criminal and Cyber Division, made the announcement after sentencing by U.S. District Judge Patricia Tolliver Giles. The Fairfax County Police Department and Prince William County Police Department assisted in the investigation.

    Assistant U.S. Attorney Daniel K. Amzallag prosecuted the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:24-cr-220.

    MIL Security OSI –

  • MIL-OSI Security: Dual Russian And Israeli National Extradited To The United States For His Role In The LockBit Ransomware Conspiracy

    Source: Office of United States Attorneys

    NEWARK, N.J. – A dual Russian and Israeli national was extradited to the United States on charges that he was a developer of the LockBit ransomware group, United States Attorney John Giordano announced.

    In August, Rostislav Panev, 51, was arrested in Israel pursuant to a U.S. provisional arrest request.  Today, Panev was extradited to the United States and had an initial appearance before U.S. Magistrate Judge André M. Espinosa where Panev was detained pending trial.

    “Rostislav Panev’s extradition to the District of New Jersey makes it clear: if you are a member of the LockBit ransomware conspiracy, the United States will find you and bring you to justice,” said United States Attorney John Giordano. “Even as the means and methods of cybercriminals become more sophisticated, my Office and our FBI, Criminal Division, and international law enforcement partners are more committed than ever to prosecuting these criminals.”

    “No one is safe from ransomware attacks, from individuals to institutions. Along with our international partners, the FBI continues to leave no stone unturned when it comes to following LockBit’s trail of destruction. We will continue to work tirelessly to prevent actors, such as Panev, from hacking their way to financial gain,” said Acting Special Agent in Charge of the FBI Newark Division Terence G. Reilly.

    According to the superseding complaint, documents filed in this and related cases, and statements made in court, Panev acted as a developer of the LockBit ransomware group from its inception in or around 2019 through at least February 2024. During that time, Panev and his LockBit coconspirators grew LockBit into what was, at times, the most active and destructive ransomware group in the world. The LockBit group attacked more than 2,500 victims in at least 120 countries around the world, including 1,800 in the United States. Their victims ranged from individuals and small businesses to multinational corporations, including hospitals, schools, nonprofit organizations, critical infrastructure, and government and law-enforcement agencies. LockBit’s members extracted at least $500 million in ransom payments from their victims and caused billions of dollars in other losses, including lost revenue and costs from incident response and recovery.

    LockBit’s members were comprised of “developers,” like Panev, who designed the LockBit malware code and maintained the infrastructure on which LockBit operated. LockBit’s other members, called “affiliates,” carried out LockBit attacks and extorted ransom payments from LockBit victims. LockBit’s developers and affiliates would then split the ransom payments which were extorted from victims.

    As alleged in the superseding complaint, at the time of Panev’s arrest in Israel in August, law enforcement discovered on Panev’s computer administrator credentials for an online repository that was hosted on the dark web and stored source code for multiple versions of the LockBit builder, which allowed LockBit’s affiliates to generate custom builds of the LockBit ransomware malware for particular victims. On that repository, law enforcement also discovered source code for LockBit’s StealBit tool, which helped LockBit affiliates exfiltrate data stolen through LockBit attacks. Law enforcement also discovered access credentials for the LockBit control panel, an online dashboard maintained by LockBit developers for LockBit’s affiliates and hosted by those developers on the dark web.

    The superseding complaint also alleges that Panev exchanged direct messages through a cybercriminal forum with LockBit’s primary administrator, who, in an indictment unsealed in the District of New Jersey in May, the United States alleged to be Dimitry Yuryevich Khoroshev (Дмитрий Юрьевич Хорошев), also known as LockBitSupp, LockBit, and putinkrab. In those messages, Panev and the LockBit primary administrator discussed work that needed to be done on the LockBit builder and control panel.

    Court documents further indicate that, between June 2022 and February 2024, the primary LockBit administrator made a series of transfers of cryptocurrency, laundered through one or more illicit cryptocurrency mixing services, of approximately $10,000 per month to a cryptocurrency wallet owned by Panev. Those transfers amounted to over $230,000 during that period.

    In interviews with Israeli authorities following his arrest in August, Panev admitted to having performed coding, development, and consulting work for the LockBit group and to having received regular payments in cryptocurrency for that work, consistent with the transfers identified by U.S. authorities. Among the work that Panev admitted to having completed for the LockBit group was the development of code to disable antivirus software; to deploy malware to multiple computers connected to a victim network; and to print the LockBit ransom note to all printers connected to a victim network. Panev also admitted to having written and maintained LockBit malware code and to having provided technical guidance to the LockBit group.

    The LockBit Investigation

    The superseding complaint against, and apprehension of, Panev follows a disruption of LockBit ransomware in February 2024 by the U.K. National Crime Agency (NCA)’s Cyber Division, which worked in cooperation with the Justice Department, FBI, and other international law enforcement partners. As previously announced by the Department, authorities disrupted LockBit by seizing numerous public-facing websites used by LockBit to connect to the organization’s infrastructure and by seizing control of servers used by LockBit administrators, thereby disrupting the ability of LockBit actors to attack and encrypt networks and extort victims by threatening to publish stolen data. That disruption succeeded in greatly diminishing LockBit’s reputation and its ability to attack further victims, as alleged by documents filed in this case.

    The superseding complaint against Panev also follows charges brought in the District of New Jersey against other LockBit members, including its alleged primary creator, developer, and administrator, Dmitry Yuryevich Khoroshev. An indictment against Khoroshev unsealed in May alleges that Khoroshev began developing LockBit as early as September 2019, continued acting as the group’s administrator through 2024, a role in which Khoroshev recruited new affiliate members, spoke for the group publicly under the alias “LockBitSupp,” and developed and maintained the infrastructure used by affiliates to deploy LockBit attacks. Khoroshev is currently the subject of a reward of up to $10 million through the U.S. Department of State’s Transnational Organized Crime (TOC) Rewards Program, with information accepted through the FBI tip website at www.tips.fbi.gov/.

    A total of seven LockBit members have now been charged in the District of New Jersey. Beyond Panev and Khoroshev, other previously charged LockBit defendants include:

    • In July, two LockBit affiliate members, Mikhail Vasiliev, also known as Ghostrider, Free, Digitalocean90, Digitalocean99, Digitalwaters99, and Newwave110, and Ruslan Astamirov, also known as BETTERPAY, offtitan, and Eastfarmer, pleaded guilty in the District of New Jersey for their participation in the LockBit ransomware group and admitted deploying multiple LockBit attacks against U.S. and foreign victims. Vasiliev and Astamirov are presently in custody awaiting sentencing.
    • In February 2024, in parallel with the disruption operation described above, an indictment was unsealed in the District of New Jersey charging Russian nationals Artur Sungatov and Ivan Kondratyev, also known as Bassterlord, with deploying LockBit against numerous victims throughout the United States, including businesses nationwide in the manufacturing and other industries, as well as victims around the world in the semiconductor and other industries. Sungatov and Kondratyev remain at large.
    • In May 2023, two indictments were unsealed in Washington, D.C., and the District of New Jersey charging Mikhail Matveev, also known as Wazawaka, m1x, Boriselcin, and Uhodiransomwar, with using different ransomware variants, including LockBit, to attack numerous victims throughout the United States, including the Washington, D.C., Metropolitan Police Department. Matveev remains at large and is currently the subject of a reward of up to $10 million through the U.S. Department of State’s TOC Rewards Program, with information accepted through the FBI tip website at www.tips.fbi.gov/.

    The U.S. Department of State’s Transnational Organized Crime (TOC) Rewards Program is offering rewards of:

    Information is accepted through the FBI tip website at tips.fbi.gov.

    Khoroshev, Matveev, Sungatov, and Kondratyev have also been designated for sanctions by the Department of the Treasury’s Office of Foreign Assets Control for their roles in launching cyberattacks.

    Victim Assistance

    LockBit victims are encouraged to contact the FBI and submit information at www.ic3.gov. As announced by the Department in February, law enforcement, through its disruption efforts, has developed decryption capabilities that may enable hundreds of victims around the world to restore systems encrypted using the LockBit ransomware variant. Submitting information at the IC3 site will enable law enforcement to determine whether affected systems can be successfully decrypted.

    LockBit victims are also encouraged to visit www.justice.gov/usao-nj/lockbit for case updates and information regarding their rights under U.S. law, including the right to submit victim impact statements and request restitution, in the criminal litigation against Panev, Astamirov, and Vasiliev.

    The FBI Newark Field Office, under the supervision of Acting Special Agent in Charge Terence G. Reilly, is investigating the LockBit ransomware variant. Israel’s Office of the State Attorney, Department of International Affairs, and Israel National Police; France’s Gendarmerie Nationale Cyberspace Command, Paris Prosecution Office — Cyber Division, and judicial authorities at the Tribunal Judiciare of Paris; Europol; Eurojust; the United Kingdom’s National Crime Agency; Germany’s Landeskriminalamt Schleswig-Holstein, Bundeskriminalamt, and the Central Cybercrime Department North Rhine-Westphalia; Switzerland’s Federal Office of Justice, Public Prosecutor’s Office of the Canton of Zurich, and Zurich Cantonal Police; Spain’s Policia Nacional and Guardia Civil; authorities in Japan; Australian Federal Police; Sweden’s Polismyndighetens; Canada’s Royal Canadian Mounted Police; Politie Dienst Regionale Recherche Oost-Brabant of the Netherlands; and Finland’s National Bureau of Investigation have provided significant assistance and coordination in these matters and in the LockBit investigation generally.

    Assistant U.S. Attorneys Andrew M. Trombly, David E. Malagold, and Vinay Limbachia for the District of New Jersey and Trial Attorneys Debra Ireland and Jorge Gonzalez of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) are prosecuting the charges against Panev and the other previously charged LockBit defendants in the District of New Jersey.

    The Justice Department’s former Cybercrime Liaison Prosecutor to Eurojust, Office of International Affairs, and National Security Division also provided significant assistance.

    Additional details on protecting networks against LockBit ransomware are available at StopRansomware.gov. These include Cybersecurity and Infrastructure Security Agency Advisories AA23-325A, AA23-165A, and AA23-075A. 

    The charges and allegations contained in the superseding complaint and above-named Indictments are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

    ###

    Defense counsel: Frank Arleo, Esq.

    MIL Security OSI –

  • MIL-OSI Security: Sinaloa Cartel Leader in Idaho Sentenced to 22 Years in Federal Prison

    Source: Office of United States Attorneys

    BOISE – A 44-year-old Honduran national suspected to be unlawfully in the United States and using the name “Hector Ojeda Manuel Aponte” was sentenced yesterday to 262 months in federal prison for distribution of methamphetamine, Acting U.S. Attorney Justin Whatcott announced.

    According to court records, Aponte was distributing approximately 40 pounds of methamphetamine every one to two weeks, along with fentanyl pills and bath salts.  Aponte had multiple vehicles to transport and distribute drugs, stash houses to hide the drugs, and business fronts to launder his illicit drug proceeds. According to multiple sources, Aponte was the “number one guy” for the Sinaloa Cartel in the State of Idaho.  He had a well-established supply chain and a distribution network consisting of other accomplices.

    Aponte is the sixth and final defendant sentenced from the investigation conducted by the Drug Enforcement Administration and the Nampa Police Department Special Investigations Unit. U.S. District Judge Amanda K. Brailsford also previously sentenced Ernesto Diaz Gaspar (30 months in prison), Wilkin Rolando Martinez Munguia (36 months in prison), Cevin Alfonzo Martinez (42 months in prison), and Jesus DeJesus Loera (70 months in prison).  Chief U.S. District Judge David C. Nye sentenced Lawrence Barnes (160 months in prison).  Defendants Barnes and Loera are U.S. Citizens, while the remaining defendants are aliens unlawfully present in the United States.

    “The United States Department of Justice is committed to eliminating the threat posed by Mexican drug cartels and their distribution of narcotics in Idaho.”  Acting U.S. Attorney Whatcott said.  “Along with our federal, state, and local law enforcement partners, we will continue to hold them accountable for bringing poisonous drugs into our state.”

    “Illegal immigration and drug trafficking are interconnected threats because Foreign Terrorist Organizations like the Sinaloa Cartel routinely employ people like this defendant to further their drug enterprises,” said David F. Reames, Special Agent in Charge, DEA Seattle Field Division.  “I am gratified that we, at the Drug Enforcement Administration, along with our partners at the Nampa Police Department and the U.S. Attorney’s Office, succeeded in holding this defendant accountable for his serious crimes targeting our community, resulting in this lengthy prison sentence.  Justice was served yesterday.”    

    Acting U.S. Attorney Whatcott commended the work of the Drug Enforcement Administration and the Nampa Police Department Special Investigations Unit, which led to the convictions and sentences.  Assistant U.S. Attorney David Morse prosecuted this case.

    ###

    MIL Security OSI –

  • MIL-OSI Canada: Backgrounder: World-class attractions in Manitoba receive federal support

    Source: Government of Canada News

    These nine projects, announced today, highlight the growing potential of tourism and cultural initiatives helping drive economic development in communities across Manitoba.

    The Tourism Growth Program (TGP) provides funding to support communities, small and medium-sized businesses, and not-for-profit organizations in developing tourism products and experiences in the Prairie provinces. Federal investment today totals $1,846,559.

    • 10144585 Manitoba Inc. (o/a Rosé Beach House) – $350,000 to expand a retro chic boutique hotel and increase tourism offerings in Winnipeg Beach, Manitoba.
    • Assiniboine Park Conservancy Inc. – $250,000 to develop and implement a winter activation program at Assiniboine Park in Winnipeg, Manitoba.
    • Churchill Chamber of Commerce – $250,000 to create an artificial intelligence powered northern lights tracker and enhance marketing in Churchill, Manitoba.
    • Exchange District Business Improvement Zone – $150,000 to expand the Lights on The Exchange / Allumez le Quartier public art festival in Winnipeg, Manitoba.
    • Falcon Trails Resort Inc. – $99,999 to enhance a recreational alpine and Nordic ski facility in southeastern Manitoba.
    • MASS Investments Inc. – $152,875 to create a glamping accommodation experience to increase tourism in Pinawa, Manitoba.
    • National Indigenous Residential School Museum – $350,000 to expand and enhance the National Indigenous Residential School Museum in Manitoba.
    • Pinawa Unplugged Ltd. – $118,685 to develop multi-day active tourism offerings and improve accommodations in Pinawa, Manitoba.
    • Tourism Industry Association of Manitoba – $125,000 to support export readiness activities for tourism operators in Manitoba.

    Related products

    MIL OSI Canada News –

  • MIL-OSI China: Chinese judiciary to improve protection of business environment, interests

    Source: China State Council Information Office 2

    China’s judiciary is stepping up efforts to foster a law-based business environment as the country is seeking development transformation and upgrading.
    On Saturday, China’s chief justice and top procurator delivered work reports at the ongoing annual session of the National People’s Congress (NPC), reviewing judicial efforts that have been made to improve the country’s law-based business environment over the past year.
    In 2024, Chinese courts acted to protect the rights of businesses and entrepreneurs by stepping up oversight of illicit cross-region and profit-driven law enforcement, said the work report of the Supreme People’s Court (SPC), noting that 46 cases involving property rights were retried and corrected, and 13 out of 72 people involved in these cases were acquitted.
    The report also highlighted that a number of typical corporate cases involving foreign investment have been concluded in accordance with the Foreign Investment Law, reinforcing China’s position as one of the world’s most attractive destinations for investment.
    China has enhanced judicial protection of intellectual property rights (IPRs) to support key technologies and industries. The report noted that the SPC effectively handled IPR disputes related to artificial intelligence (AI), supporting the lawful application of AI and penalizing infringement behaviors using the technology in the past year.
    “The protection of intellectual property and trade secrets is crucial in safeguarding innovation, which helps drive economic growth,” said Zhang Yabo, vice board chairman of Sanhua Holding Group and an NPC deputy.
    China’s top procuratorate has also strengthened the judicial protection of intellectual property rights to safeguard the advancement of new quality productive forces in line with local conditions. In 2024, 21,000 individuals were prosecuted for crimes related to trademark, patent, copyright or trade-secret infringement, according to the work report of the Supreme People’s Procuratorate (SPP).
    The SPP has stepped up efforts to ensure a law-based environment over the past year, upholding the principle of equal protection for the lawful rights and interests of all types of business entities, while strengthening oversight over compulsory measures such as sealing, sequestering, and freezing of assets and handled 31 key cases last year, according to the SPP report.
    As of February 2025, 21 of these cases had been resolved, releasing 610 million yuan (about 85 million U.S. dollars) in funds that had been sealed up, sequestered or frozen.
    “Regulating law enforcement practices helps reduce unlawful interference in enterprises’ property rights and operational autonomy, which is key to fostering a predictable business environment,” said Wei Qingsong, a Nanjing-based lawyer and a national political advisor.
    To ensure a good start to the 15th Five-Year Plan (2026-2030) period, the Chinese judiciary will continue serving the high-quality development of China’s socialist market economy, according to the reports. It will continue punishing economic and financial crime, protecting the property rights and operational autonomy of all economic entities equally, and fostering a law-based credit economy.

    MIL OSI China News –

  • MIL-OSI United Nations: Security Council: Put young women at the heart of peace and security efforts

    Source: United Nations MIL OSI b

    Women

    Peace is in peril worldwide and avenues for diplomatic dialogue are shrinking, but young women peacebuilders are demonstrating that a better world is possible, a senior UN official told the Security Council on Tuesday. 

    Rosemary DiCarlo, Under-Secretary-General for Political and Peacebuilding Affairs, was speaking during a debate on investing in the transformative power of intergenerational leadership on the women, peace and security agenda, where she urged ambassadors to “open doors for the next generation”.

    “Investments in women, peace and security agenda are not an option; they are a necessity for preventing conflict and achieving sustainable and inclusive peace,” she said.

    ‘Bucking the status quo’

    Ms. DiCarlo listed Malala Yousafzai, the girls’ education champion from Pakistan and youngest Nobel Peace Prize laureate ever, climate activist Greta Thunberg from Sweden, and Ilwad Elman from Somalia who works to rehabilitate child soldiers and counter violent extremism, as examples of young women who are envisioning and demanding a world of justice and peace.

    “These remarkable leaders remind us that transformation requires bucking the status quo,” she said.

    In this regard, she pointed to the UN Secretary-General’s policy brief on A New Agenda for Peace which calls for dismantling entrenched patriarchal systems that perpetuate inequality and exclusion.

    Reimagine power structures

    “It underscores the urgent need to reimagine global power structures and place women and girls – especially young women – at the centre of our efforts to address the root causes of conflict and insecurity,” she said.

    “If we do not break free from patriarchal norms, true peace and inclusive security will remain out of reach,” she warned.

    Furthermore, the recently adopted Pact for the Future underlines the importance of ensuring that women’s leadership and participation are integrated into all aspects of conflict prevention and sustaining peace, she added.

    Ms. DiCarlo highlighted three key areas in advancing intergenerational leadership: facilitating dialogues, fostering inclusive peace processes, and investing in young women’s leadership.

    Foster dialogue and inclusion

    She said intergenerational dialogues are critical opportunities for building trust and articulating shared aspirations.

    She cited an example from Chad, where the UN Peacebuilding Fund supported local dialogue platforms that brought together youth associations with traditional authorities.  This ultimately strengthened social cohesion and reduced intercommunal tensions and conflicts in the Nya Pendé and Barh Sara regions.

    Ms. DiCarlo also stressed the need to advance inclusive, multi-track peace processes that prioritize diverse groups of women, including young women, and promote their leadership and rights at every level.  At the same time, she also recognized “the diverse and changing mediation landscape today”.

    UN Photo/Gregorio Cunha

    The UN Mission in South Sudan (UNMISS) hosts a workshop on key peace and security issues for Yei women and youth.

    Promote peace from the bottom-up

    She recalled that during the Council’s annual open debate on women, peace and security, the Secretary-General launched an initiative that invites mediators from a cross section of society to join the UN in taking concrete actions to ensure women’s participation in peace processes. 

    Moreover, she noted that the UN actively backs multi-track efforts that promote peace from the bottom up, emphasizing young women’s leadership. 

    She witnessed this recently in Colombia, where the UN Mission verifying the 2016 peace deal supports women and men from all backgrounds and ages, addressing stigmatization of ex-combatants in reintegration areas.

    “Third, our investments must be aligned with our priorities. Significant and sustained resources are essential to support young women peacebuilders and ensure their work flourishes,” she said.

    Building from the ground up

    For example, through a Peacebuilding Fund initiative in Somalia, young men and women worked together in managing and restoring water canals across clan lines, overcoming historical grievances and mitigating inter-clan conflicts driven by resource scarcity.

    Ms. DiCarlo said that as the 25th anniversary of Security Council Resolution 1325 (2000) on women, peace and security approaches, along with the 30th anniversary of the Beijing Declaration and Platform for Action, “we must open doors for the next generation.”

    “Together, we must cultivate leadership from the ground up, placing young women and women’s rights at the heart of our efforts,” she concluded. 

    Appeal from Sudan

    The Council also heard from Tahani Abbas, a human rights defender, legal representative, and peace advocate from Sudan, where rival military forces have been locked in a brutal war since April 2023.

    She said women have been on the frontlines of conflict response, creating “networks of resistance” such as Emergency Response Rooms that provide medical services, daycare, communal kitchens and more.

    She was adamant that supporting women peacebuilders before, during, and after crises pays peace dividends.

    “When the war broke out in Sudan, we found that the women who had participated in de-escalation and dialogue processes at the local levels prior to the war had used their skills and capacities to mediate, negotiate, and manage tensions and conflicts in their communities during the war,” she said.

    Ms. Abbas called for the Council’s ongoing support to women “who are fighting for peace and security every day”, saying “even though it may be logistically and politically difficult, the decisions made within the United Nations will have a direct impact on the lives of the Sudanese population and women peacebuilders around the world.” 

    MIL OSI United Nations News –

  • MIL-OSI New Zealand: Putting the patient first

    Source: New Zealand Government

    Initiatives announced this week underscore the Government’s commitment to fix New Zealand’s broken healthcare system, Health Minister Simeon Brown says.“We are relentlessly focused on improving health outcomes and ensuring Kiwis have access to timely, quality healthcare.“That’s why we are spending more on health than ever before – a record $30 billion each year.“Making it easier for people to see a doctor or nurse at their local GP clinic in a timely manner is a key part of this.“That’s why I announced a significant package this week to improve access to primary care and boost the primary care workforce, including: 

    100 clinical placements for overseas-trained doctors to work in primary care. 
    Incentives for primary care to recruit up to 400 graduate registered nurses per year for five years.
    A $285 million uplift to funding over three years for general practice from 1 July, in addition to the capitation uplift general practice receives annually.
    An increase in the number of training placements for doctors at medical schools by a further 25 each year, meaning 100 more doctor training places will be added over the course of this Government.
    Up to 50 New Zealand-trained graduate doctors a year to train in primary care settings.
    A new 24/7 digital service for all New Zealanders to be able to access online medical appointments.
    Up to 120 training places for nurse practitioners specialising in primary care.
    Accelerating advanced tertiary education for up to 120 primary care registered nurses.

     
    “Strengthening urgent and after-hours care will also be a focus of mine as part of our plan to enable faster access to primary care, and work on this is underway.“We are also focused on delivering better outcomes for those with cancer, including earlier detection of cancers through screening programmes.“This week, I was pleased to announce that the Government has agreed to progressively lower the age of eligibility for bowel cancer screening tests to align with Australia, which is 45 years old. By delivering the first step of lowering the age to 58, more lives will be saved.“We know that improving screening rates is crucial, which is why we also announced a significant investment for targeted initiatives that aim to increase screening rates among population groups with low rates, such as Māori, Asian, and Pacific Peoples.“This follows our decision to extend breast screening to women aged 70 to 74 and our $604 million boost to Pharmac over four years to deliver new cancer treatments and medicines.“Finally this week, I outlined my key five priorities as Minister of Health to put the focus firmly back on patients: 

    Focusing Health New Zealand on delivering the basics.
    Fixing primary healthcare.
    Reducing emergency department wait times.
    Clearing the elective surgery backlog.
    Investing in health infrastructure. 

    “Our plan supports our Government’s wider commitment to rebuild the economy, restore law and order, and deliver better health, education, and infrastructure for every New Zealander. Kiwis want action, and I am focused on delivering real change at pace.“We will not stop until our health system delivers timely, quality care to all New Zealanders.”

    MIL OSI New Zealand News –

  • MIL-OSI Canada: Premier’s, parliamentary secretary’s statements on International Women’s Day

    Source: Government of Canada regional news

    Premier David Eby has released the following statement marking International Women’s Day:

    “Today is International Women’s Day, a day to recognize and celebrate the social, economic, cultural and political achievements of women.

    “It is also a day to reaffirm a call to continue to move women’s equality forward. While women have made great advances in every aspect of public and private life, there is still inequity to solve, especially for women, girls and gender-diverse people who are Indigenous, racialized, newcomers or who live with a disability.

    “This year also marks the 30th anniversary of the adoption of the Beijing Declaration and Platform for Action at the 1995 Fourth World Conference on Women. The Platform for Action was considered a global agenda for women’s empowerment and gender equality and was adopted unanimously by 189 countries.

    “Our government recognizes that building a province that actively seeks to advance gender equity benefits families, communities and our economy. Supporting B.C. families by cutting fees for child care by more than half has saved parents an average of nearly $8,000 every year – a contributing factor to more than 150,000 women joining the workforce since 2017.

    “Investing in the health of women and gender-diverse people is a significant priority that advances equity and empowerment. Prescription contraception became free in April 2023. Since then, 306,000 British Columbians have saved about $300 each year. As well, beginning later this year, the province will offer one cycle of in-vitro fertilization for free. B.C. is also the first province to deliver an at-home self-screening program for cervical cancer.

    “Recognizing that true equality is not possible without the elimination of gender-based violence, our government launched a three-year action plan to address gender-based violence and its impacts. This includes $1.9 billion to build and operate 3,000 new transition housing, second-stage housing and affordable long-term housing spaces for women and children. We also introduced paid leave for people experiencing domestic and sexual violence.

    “We all have a role in moving gender equity forward. Today, on International Women’s Day, I encourage everyone to celebrate the women in their lives and reflect on how they can best contribute to ending gender discrimination.”

    Jennifer Blatherwick, parliamentary secretary for gender equity, said:

    “On International Women’s Day, we celebrate the many successes and achievements of women in our province and renew our commitment to advancing gender equity. Empowering women, girls and gender-diverse people benefits everyone and is essential to the health of families, neighbourhoods and our economy. Whether it’s working in tech, science, small business, health care, education, construction or other sectors, more and more women are making their mark in B.C. — just as they have throughout history. British Columbia is an extraordinary place because of the extraordinary women who have made this province their home.”

    MIL OSI Canada News –

  • MIL-OSI Africa: Ecobank Côte d’Ivoire Launches West Africa’s First Gender Bond to Accelerate Financial Inclusion for Women Entrepreneurs

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

    ABIDJAN, Ivory Coast, March 8, 2025/APO Group/ —

    Ecobank Côte d’Ivoire, a subsidiary of Ecobank Transnational Incorporated (www.Ecobank.com), the leading Pan African Bank, takes a major step forward in its commitment to financial inclusion with the launch of the first Gender Bond in West Africa. This groundbreaking bond issuance, amounting to XOF 10 billion, aims to mobilize funding for women-owned and women-led businesses, reducing financing inequalities and fostering inclusive economic growth.

    Named “Ellever Gender Bond 6.5% 2024-2029,” this bond has been structured and arranged by EDC Investissement Corporation (EIC), Ecobank’s Brokerage and Asset Management subsidiary. It marks Ecobank Côte d’Ivoire’s second bond issuance after its initial fundraising in 2013. Aligned with international sustainable finance standards, the Gender Bond has received an independent second-party opinion from Morningstar Sustainalytics, ensuring compliance with global best practices in responsible investment.

    Since its inception, the ELLEVER program has made a tangible impact on women entrepreneurship. In 2024, over 3,465 businesses registered, benefiting from XOF 13.25 billion in disbursed loans. However, access to financing remains a significant challenge for women entrepreneurs in West Africa, where less than 20% of women-led SMEs have access to adequate funding. Globally, Gender Bonds represented only USD 14.5 billion, accounting for just 1.5% of the sustainable bond market in 2023, underscoring the need to expand such initiatives.

    According to Paul-Harry Aithnard, Managing Director of Ecobank Côte d’Ivoire, women’s financial inclusion is a major economic priority. “This Gender Bond provides a tangible solution to the challenges faced by women entrepreneurs in West Africa. Today, women-led businesses are recognized for their resilience and performance, yet they remain significantly underfunded. Through this issuance, we reaffirm our commitment to building an ecosystem where women have full access to the financial resources they need to grow and succeed. This is a powerful tool to transform access to financing and sustainably accelerate the growth of women-led businesses.”

    The “Ellever Gender Bond 6.5% 2024-2029” offers investors and the public a unique opportunity to combine profitability with social impact. This five-year bond provides an attractive annual interest rate of 6.5% with a two-year capital repayment grace period. The total issuance of XOF 10 billion consists of one million securities with a nominal value of XOF 10,000 each.

    All funds raised will be fully allocated to strengthening the ELLEVER program, financing initiatives led by women, and providing them with tailored financial and technical support. Roseline Abé, Chief Executive Officer of EDC Investissement Corporation, highlights the significance of this initiative: “We have structured this bond to be attractive to investors while delivering a strong impact on women’s empowerment in Côte d’Ivoire. This is a unique opportunity to combine financial performance with social inclusion.”

    With this Gender Bond, Ecobank Côte d’Ivoire cements its leadership in sustainable finance and paves the way for greater economic inclusion. The bank’s ambition goes beyond this issuance, as it envisions a long-term strategy to promote innovative and inclusive financial instruments.

    Paul-Harry Aithnard concludes: “This issuance is just the beginning. We will continue to develop tailored solutions to enhance women’s participation in the economy and encourage other financial institutions to follow this path.”

    Through this initiative, Ecobank Côte d’Ivoire is transforming access to finance and reaffirming its commitment to inclusive and sustainable development.

    MIL OSI Africa –

  • MIL-OSI Security: New Jersey Man Sentenced To 40 Months In Prison For Stealing COVID-19 Unemployment Benefits; Others Previously Sentenced

    Source: Office of United States Attorneys

    TRENTON, N.J. – A New Jersey man was sentenced to 40 months in prison for his role in a conspiracy to illegally obtain over $570,000 in COVID-19 unemployment benefits, U.S. Attorney John Giordano announced.

    Jose Tavares, 37, of Englewood, New Jersey, was convicted on Oct. 28, 2024, on one count of conspiracy to commit wire fraud after a five-day jury trial before U.S. District Judge Robert Kirsch. Judge Kirsch imposed the sentence in Trenton federal court. Tavares’ conspirators, Yanira Abreu, 43, of Keasbey, New Jersey, and Christopher Valerio, 34, of Perth Amboy, New Jersey, were each sentenced previously by Judge Kirsch in the same scheme.

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

    From July 2020 through February 2021, Tavares, Valerio, Abreu and others submitted fraudulent applications for unemployment insurance benefits to the New York Department of Labor (NYDOL) through fictitious online profiles that they created using personally identifiable information, including names, dates of birth, and Social Security numbers of other individuals without their consent. Once the NYDOL processed and approved the fraudulent applications, Tavares and his conspirators obtained debit cards with the illegally obtained funds totaling over $570,000, which they used for personal gain, including vacations, luxury retail purchases, and cosmetic surgery.

    In addition to the prison term, Judge Kirsch sentenced Tavares to 3 years of supervised release and ordered Tavares to pay in $570,077 in restitution.

    U.S. Attorney Giordano credited special agents of the U.S. Department of Homeland Security, Homeland Security Investigations, under the direction of Special Agent in Charge Ricky J. Patel in Newark; Special Agents of the U.S. Department of Labor, Office of Inspector General, Northeast Region, under the direction of Special Agent in Charge Jonathan Mellone, and postal inspectors of the U.S. Postal Inspection Service, under the direction of Postal Inspector in Charge Christopher A. Nielsen, Philadelphia Division, with the investigation that led to the sentencing.

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

    The District of New Jersey COVID-19 Fraud Enforcement Strike Force is one of five strike forces established throughout the United States by the U.S. Department of Justice to investigate and prosecute COVID-19 fraud. The strike forces focus on large-scale, multi-state pandemic relief fraud perpetrated by criminal organizations and transnational actors. The strike forces are interagency law enforcement efforts, using prosecutor-led and data analyst-driven teams designed to identify and bring to justice those who stole pandemic relief funds.

    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.

                                                                           ###

    Defense Counsel for Tavares: Jeffrey Simms, Esq. and Roberto Espinosa, Esq., of New Jersey.

    Defense counsel for Valerio: Kevin Roe, Esq., of New Jersey.

    Defense counsel for Abreu: John Russo, Esq., of New York.   

    MIL Security OSI –

  • MIL-OSI Security: Nigerian citizen, extradited from the U.K., arraigned on indictment for wire fraud involving stolen tax information

    Source: Office of United States Attorneys

    Tukwila, Washington company had employee tax information stolen in email compromise scheme

    Seattle – A Nigerian citizen who was arrested and extradited from the U.K. on an indictment in the Western District of Washington was arraigned today in U.S. District Court in Seattle, announced Acting U.S. Attorney Teal Luthy Miller. Onomen Uduebor, 38, is charged in a three-count indictment related to a scheme to steal and use income tax data for fraud. The 2019 indictment was unsealed today for Uduebor’s first appearance. Uduebor entered a plea of ‘not guilty’ and trial is scheduled before U.S. District Judge James L. Robart on May 12, 2025.

    “This defendant allegedly participated in a conspiracy that involved tricking companies around the United States, including a Tukwila-based company, into providing W-2 information on their employees. Then the conspirators filed fake tax returns in the employees’ names, claiming large refunds and causing chaos for those whose Social Security numbers had been stolen,” said Acting U.S. Attorney Miller.

    According to the indictment, between February 2016 and April 2017, the conspirators created false emails that appeared to come from a company executive asking the Human Resources Department for the W-2 data. The conspirators manipulated the email so that any reply would go to an email address that they controlled.  The conspirators then used the information from the W-2s to file more than 300 bogus tax returns claiming more than $1 million in tax refunds. The conspirators targeted companies across the U.S. in this scheme.

    Uduebor is charged with conspiracy to commit wire fraud, wire fraud, and aggravated identity theft.

    The wire fraud charges are punishable by up to twenty years in prison. Aggravated Identity Theft is punishable by a mandatory minimum two years in prison to run consecutive to any sentence imposed on the wire fraud counts.

    The charges contained in the indictment are only allegations.  A person is presumed innocent unless and until he or she is proven guilty beyond a reasonable doubt in a court of law.

    The case was investigated by the Internal Revenue Service – Criminal Investigations (IRS-CI).

    The case is being prosecuted by Assistant United States Attorney Miriam Hinman. Uduebor was arrested in the United Kingdom in September 2023. The U.S. Department of Justice’s Office of International Affairs provided valuable assistance with the extradition process.  

    MIL Security OSI –

  • MIL-OSI: Brag House Holdings, Inc. Announces Closing of Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 07, 2025 (GLOBE NEWSWIRE) — Brag House Holdings, Inc. (“Brag House” or the “Company”), a premier media technology platform designed for casual college gamers and brands seeking to connect with the Gen Z demographic, today announced the closing of its initial public offering (the “Offering”) of 1,475,000 shares of its common stock at a public offering price of US$4.00 per share.

    Kingswood Capital Partners, LLC is acting as the Sole Bookrunning Manager and WestPark Capital Inc. is acting as an underwriter. Lucosky Brookman LLP is acting as U.S. securities counsel to the Company, and Dickinson Wright LLP is acting as U.S. securities counsel to the underwriters in connection for the Offering.

    A registration statement on Form S-1 (File No. 333-280282) relating to the Offering was filed with the U.S. Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on Friday, February 14, 2025 and an additional registration statement on Form S-1 (File No. 333-285586) related to the Offering was filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and became automatically effective on March 5, 2025. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained from Kingswood Capital Partners, LLC, at 126 East 56th Street Suite 22R New York, NY 10022, via email at syndicate@kingswoodus.com, or by calling 212-487-1080. In addition, a copy of the final prospectus can also be obtained via the SEC’s website at www.sec.gov.

    About Brag House
    Brag House is a leading media technology gaming platform dedicated to transforming casual college gaming into a vibrant, community-driven experience. By seamlessly merging gaming, social interaction, and cutting-edge technology, the Company provides an inclusive and engaging environment for casual gamers while enabling brands to authentically connect with the influential Gen Z demographic. The platform offers live-streaming capabilities, gamification features, and custom tournament services, fostering meaningful engagement between users and brands. For more information, please visit www.braghouse.com.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “believe,” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent events or circumstances, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure investors that such expectations will turn out to be correct, and the Company cautions that actual results may differ materially from anticipated results. Additional factors are discussed in the Company’s registration statement and other filings with the SEC, available for review at www.sec.gov.

    Media Contact:
    Dan Walsh
    dan@mustardpr.com
    +44 (0) 7827 816 971

    Investor Relations Contact:
    Adele Carey
    VP, Investor Relations
    ir@thebraghouse.com

    The MIL Network –

  • MIL-OSI Security: Registered sex offender going to prison for more than 15 years on new child pornography charge

    Source: Office of United States Attorneys

    BUFFALO, N.Y. – U.S. Attorney Michael DiGiacomo announced today that Christopher Rucker, 45, of Cheektowaga, NY, who was convicted of possession of child pornography with a prior sex offense, was sentenced to serve 188 months in prison and lifetime supervised release by U.S. District Judge John L. Sinatra, Jr.

    Assistant U.S. Attorney Caitlin M. Higgins, who handled the case, stated that in March 2022, the New York State Police (NYSP) conducted a search warrant at Rucker’s residence, during which they seized a laptop computer and a cell phone. The laptop and cell phone both contained images and videos of child pornography. Subsequent investigation determined that between October 1 and December 28, 2021, Rucker downloaded approximately 1300 images of child pornography. Some of the images depicted prepubescent minors, as well as violence against children and the sexual abuse of an infant or toddler.

    Rucker is a registered Level 2 sex offender, following two convictions in 2002 on Sodomy in the 2nd Degree and Using and Interstate Facility to Persuade/Induce a Child to Engage in Sexual Activity.

    The sentencing is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Matthew Miraglia, the Cheektowaga Police Department, under the direction of Chief Brian Coons, and the New York State Police, under the direction of Major Amie Feroleto.  

    MIL Security OSI –

  • MIL-OSI Security: Mexican National Involved in Smuggling and Labor Trafficking Scheme Sentenced to 3 Years in Federal Prison

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that PORFIRIA MARIBEL RAMOS SANCHEZ, 47, a citizen of Mexico last residing in Vernon, was sentenced today by U.S. District Judge Kari A. Dooley in Bridgeport to 36 months of imprisonment for her involvement in a scheme to smuggle aliens into the U.S., harbor them at Hartford area residences, force them to work, and threaten to harm them in various ways if they failed to pay exorbitant fees, interest, and other living expenses.

    According to court documents and statements made in court, beginning in September 2022, the FBI and Hartford Police interviewed several Mexican nationals who disclosed that they were smuggled from Mexico into the U.S. and transported to Hartford.  The investigation revealed that victims typically arranged with Ramos’s mother, Maria Del Carmen Sanchez Potrero, and others in Connecticut and Mexico, to cross the border into the U.S. in exchange for a fee of between $15,000 and $20,000 that each would need to pay once they were in the U.S.  In most cases, the victims were required to turn over a property deed as collateral before leaving Mexico.  They were then smuggled across the border and transported to Hartford area residences, often at a substantial risk of bodily injury or death.

    After the victims arrived in Connecticut, they were told that they would have to pay approximately $30,000, with interest, and that they would have to pay Sanchez, Ramos, and their co-coconspirators for rent, food, gas, and utilities.  The co-conspirators created false documents for the victims, including Permanent Residence cards and Social Security cards, and helped the victims find employment in the Hartford area.  In addition to their own jobs, some victims were required to perform housework and yardwork without compensation and without having their debt reduced.

    Victims were rarely provided with an accounting of their debt.  If victims failed to make regular payments, or in amounts that the co-conspirators expected, they were sometimes threatened, including with threats to harm family members in Mexico, to take property in Mexico that had been secured as collateral, to reveal victims’ immigration status to U.S. authorities, and to raise their interest payments.

    To date, investigators have identified 19 victims of this scheme.  Multiple victims were minors, and at least two were smuggled into the U.S. unaccompanied by a relative or legal guardian.

    Ramos has been detained since her arrest on October 5, 2023.  On October 4, 2024, she pleaded guilty to conspiracy to encourage and induce, bring in, transport, and harbor aliens.

    Judge Dooley ordered Ramos to pay restitution of $574,608.  As a condition of her plea agreement, in partial satisfaction or her restitution obligation, Ramos and her husband agreed to sell a house they owned at 74 Burnside Avenue in East Hartford, which was used to facilitate this criminal offense.  However, in violation of her plea agreement, Ramos did not inform the government of the pending sale and sold the house in November 2024 to a relative of her husband for $75,000 less than its appraised value.

    Ramos faces immigration proceedings when she completes her prison term.

    Sanchez pleaded guilty and awaits sentencing.

    This investigation has been conducted by the Federal Bureau of Investigation, Hartford Police Department, U.S. Department of Labor – Office of Inspector General, U.S. Customs and Border Protection, U.S. Citizenship and Immigration Services, and U.S. Immigration and Customs Enforcement.  The case is being prosecuted by Assistant U.S. Attorneys Angel Krull and Shan Patel.

    MIL Security OSI –

  • MIL-OSI USA: Former Refugee Pleads Guilty and Admits to Supporting ISIS

    Source: US State of California

    A former Iraqi refugee and legal permanent resident of Richmond, Texas, has entered a guilty plea to conspiracy to provide material support to a designated foreign terrorist organization.

    Abdulrahman Mohammed Hafedh Alqaysi, 28, admitted to providing material support and resources to the Islamic State of Iraq and al-Sham (ISIS).

    From 2015 to 2020, Alqaysi provided his computer expertise to develop and post logos for a media arm of the ISIS group known as the Kalachnikov team. He further sent hacking videos and instructions to ISIS members in addition to stolen credit card information and fraudulently created identity documents.

    U.S. District Judge Alfred Bennett accepted the plea and has set sentencing for June 5. Alqaysi faces a maximum penalty of 20 years in prison and up to a $250,000 fine. Alqaysi has been and will remain in custody pending that hearing.

    The FBI Houston Joint Terrorism Task Force investigated the case with assistance from Homeland Security Investigations.

    Assistant U.S. Attorney Heather Winter for the Southern District of Texas is prosecuting the case with assistance from Trial Attorney Michael Dittoe of the National Security Division’s Counterterrorism Section.

    MIL OSI USA News –

  • MIL-OSI Security: U.S. Attorney’s Office Filed More than 100 Border-Related Cases This Week

    Source: Office of United States Attorneys

    SAN DIEGO – Federal prosecutors in the Southern District of California filed more than 100 border-related cases this week, including charges of transportation of illegal aliens, reentering the U.S. after deportation, deported alien found in the United States, and importation of controlled substances.

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

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

    A representative sample of border-related arrests this week, includes:

    • Mexican nationals Isay Edel Ramos-Chaparro and Omar Alvarado-Ignacio were arrested March 4, 2025, by El Centro-based U.S. Border Patrol agents and charged with crimes relating to their alleged attempt to cross illegally into the United States on motorcycles through a breach in the border fence in Mexicali. Both defendants had previously been deported after entering the United States illegally.
    • On March 6, 2025, Jason Kristopher Lowe attempted to enter the United States from Mexico via the San Ysidro Port of Entry driving a BMW X5, bearing California plates.  Lowe was arrested when two individuals, both of whom admitted to being citizens of China without lawful documents allowing them to enter the United States, were found inside a secret compartment in the undercarriage of the BMW.
    • Fernando Medina Rodriguez, Gustavo Camacha Medina and Carlos Cardenas Medina – all drivers of separate tractor-trailers attempting to cross into the U.S. from Mexico at the Otay Mesa Port of Entry – were arrested on March 4, 2025, on drug importation charges. According to a federal complaint, all three were sent to secondary inspection around the same time, where Customs and Border Protection officials found hidden compartments containing a total of approximately 171 pounds of cocaine.

    Federal law enforcement has focused immigration prosecutions on undocumented aliens who are engaged in criminal activity in the U.S., including those who commit drug and firearms crimes, who have serious criminal records, or who have active warrants for their arrest. Federal authorities have also been prioritizing investigations and prosecutions against drug, firearm, and human smugglers and those who endanger and threaten the safety of our communities and the law enforcement officers who protect the community.

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

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

    MIL Security OSI –

  • MIL-OSI Security: Former Wyoming County corrections officer going to prison for distributing child pornography

    Source: Office of United States Attorneys

    BUFFALO, N.Y. – U.S. Attorney Michael DiGiacomo announced today that James D. Sutton, 40, of Depew, NY, who was convicted of distribution child pornography, was sentenced to serve 100 months in prison and 30 years supervised release by U.S. District Judge Lawrence J. Vilardo.

    Assistant U.S. Attorney Craig R. Gestring, who handled the case, stated that in October 2021, Sutton, a former Wyoming County Corrections Officer, used his cellular telephone to upload 22 video files containing child pornography, via the internet, to the social media platform Kik. The videos included prepubescent minors under the age of 12 years old, and depictions of violence.

    The sentencing is the result of an investigation by the New York State Police, under the direction of Major Amie Feroleto, the Federal Bureau of Investigation Child Exploitation Human Trafficking Task Force, under the direction of Special Agent-in-Charge Matthew Miraglia, and the National Center for Missing and Exploited Children.  

    # # # #

    MIL Security OSI –

  • MIL-OSI: Orezone Gold Files Final Short Form Prospectus in Connection With C$35 Million Bought Deal

    Source: GlobeNewswire (MIL-OSI)

    Final Short Form Prospectus is accessible on SEDAR+

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

    VANCOUVER, British Columbia, March 07, 2025 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to announce that, further to its press release dated February 23, 2025 in respect of its bought deal offering of common shares of the Company (the “Common Shares”), it has filed a final short form prospectus dated March 7, 2025 (the “Final Prospectus”) with the securities commissions in all provinces of Canada, except Quebec, and has obtained a receipt therefor.

    The Final Prospectus qualifies the distribution of 42,683,000 Common Shares at a price of C$0.82 per Common Share (the “Offering Price”) for aggregate gross proceeds of C$35,000,060 and up to an additional 6,402,450 Common Shares at the Offering Price issuable upon exercise of the over-allotment option granted to the underwriter, all as more fully described in the Final Prospectus (the “Offering”). Closing of the Offering is expected on or about March 13, 2025, and is subject to customary closing conditions and regulatory approval, including final approval of the Toronto Stock Exchange.

    Access to the Final Prospectus and any amendment is provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment. The Final Prospectus is accessible under the Company’s profile on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Final Prospectus and any amendment may be obtained, without charge, from Canaccord Genuity Corp. by email at ecm@cgf.com by providing the contact with an email address or address, as applicable. Prospective investors should read the Final Prospectus in its entirety before making an investment decision.

    The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

    About Orezone Gold Corporation

    Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.

    The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.

    Contact Information

    Patrick Downey
    President and Chief Executive Officer

    Kevin MacKenzie
    Vice President, Corporate Development and Investor Relations

    Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
    info@orezone.com / www.orezone.com

    For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”).  Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur.  Forward-looking statements in this press release include, but are not limited to closing of the Offering, and regulatory and TSX approval thereof.

    All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances.

    All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, delays caused by pandemics, terrorist or other violent attacks (including cyber security attacks), the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company’s most recent annual information form and management discussion and analysis filed on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking statements.

    Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.

    The MIL Network –

  • MIL-OSI: Constellation Software Inc. Announces Results for the Fourth Quarter and Year Ended December 31, 2024 and Declares Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 07, 2025 (GLOBE NEWSWIRE) — Constellation Software Inc. (TSX:CSU) (“Constellation” or the “Company”) today announced its financial results for the fourth quarter and year ended December 31, 2024 and declared a $1.00 per share dividend payable on April 15, 2025 to all common shareholders of record at close of business on March 28, 2025. This dividend has been designated as an eligible dividend for the purposes of the Income Tax Act (Canada). Please note that all dollar amounts referred to in this press release are in U.S. Dollars unless otherwise stated.

    The following press release should be read in conjunction with the Company’s annual Consolidated Financial Statements, prepared in accordance with IFRS Accounting Standards (“IFRS”) and our annual Management’s Discussion and Analysis for the year ended December 31, 2024, which can be found on SEDAR+ at www.sedarplus.com and on the Company’s website www.csisoftware.com. Additional information about the Company is also available on SEDAR+ at www.sedarplus.com.

    Q4 2024 Headlines:

    • Revenue grew 16% (1% organic growth, 2% after adjusting for changes in foreign exchange rates) to $2,703 million compared to $2,323 million in Q4 2023.
    • Net income attributable to common shareholders increased 102% to $285 million ($13.44 on a diluted per share basis) from $141 million ($6.65 on a diluted per share basis) in Q4 2023.
    • A number of acquisitions were completed for aggregate cash consideration of $475 million (which includes acquired cash). Deferred payments associated with these acquisitions have an estimated value of $144 million resulting in total consideration of $620 million.
    • Cash flows from operations (“CFO”) was $678 million, an increase of 33%, or $167 million, compared to $511 million for the comparable period in 2023.
    • Free cash flow available to shareholders1 (“FCFA2S”) was $482 million, an increase of 48%, or $157 million compared to $325 million for the comparable period in 2023.

    2024 Headlines:

    • Revenue grew 20% (2% organic growth, 2% after adjusting for changes in foreign exchange rates) to $10,066 million compared to $8,407 million in 2023.
    • Net income attributable to common shareholders increased 29% to $731 million ($34.48 on a diluted per share basis) from $565 million ($26.67 on a diluted per share basis) in 2023.
    • A number of acquisitions were completed for total consideration of $1,792 million including holdbacks and contingent consideration.
    • Cash flows from operations (“CFO”) was $2,196 million, an increase of 23%, or $417 million, compared to $1,779 million for the comparable period in 2023.
    • Free cash flow available to shareholders (“FCFA2S”) was $1,472 million, an increase of 27%, or $312 million, compared to $1,160 million for the comparable period in 2023.

    Total revenue for the quarter ended December 31, 2024 was $2,703 million, an increase of 16%, or $380 million, compared to $2,323 million for the comparable period in 2023. For the year ended December 31, 2024 total revenues were $10,066 million, an increase of 20%, or $1,660 million, compared to $8,407 million for the comparable period in 2023. The increase for both the three and twelve month periods compared to the same periods in the prior year is primarily attributable to growth from acquisitions as the Company experienced organic growth of 1% and 2% respectively, 2% for both periods after adjusting for the impact of changes in the valuation of the US dollar against most major currencies in which the Company transacts business. Organic growth is not a standardized financial measure and might not be comparable to measures disclosed by other issuers.

    Net income attributable to common shareholders of CSI for the quarter ended December 31, 2024 was $285 million compared to $141 million for the same period in 2023. On a per share basis this translated into a net income per diluted share of $13.44 in the quarter ended December 31, 2024 compared to net income per diluted share of $6.65 for the same period in 2023. For the year ended December 31, 2024, net income attributable to common shareholders of CSI was $731 million or $34.48 per diluted share compared to $565 million or $26.67 per diluted share for the same period in 2023.

    For the quarter ended December 31, 2024, CFO increased $167 million to $678 million compared to $511 million for the same period in 2023 representing an increase of 33%. For the year ended December 31, 2024, CFO increased $417 million to $2,196 million compared to $1,779 million during the same period in 2023, representing an increase of 23%.

    For the quarter ended December 31, 2024, FCFA2S increased $157 million to $482 million compared to $325 million for the same period in 2023 representing an increase of 48%. For the year ended December 31, 2024, FCFA2S increased $312 million to $1,472 million compared to $1,160 million for the same period in 2023 representing an increase of 27%.

    Forward Looking Statements
    Certain statements herein may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Constellation or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Constellation assumes no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.

    Non-IFRS Measures
    Free cash flow available to shareholders ‘‘FCFA2S’’ refers to net cash flows from operating activities less interest paid on lease obligations, interest paid on debt, debt transaction costs, payments of lease obligations, the IRGA / TSS membership liability revaluation charge, and property and equipment purchased, and includes interest and dividends received, and the proceeds from sale of interest rate caps. The portion of this amount applicable to non-controlling interests is then deducted. We believe that FCFA2S is useful supplemental information as it provides an indication of the uncommitted cash flow that is available to shareholders if we do not make any acquisitions, or investments, and do not repay any debts. While we could use the FCFA2S to pay dividends or repurchase shares, our objective is to invest all of our FCFA2S in acquisitions which meet our hurdle rate.

    FCFA2S is not a recognized measure under IFRS and, accordingly, readers are cautioned that FCFA2S should not be construed as an alternative to net cash flows from operating activities.

    The following table reconciles FCFA2S to net cash flows from operating activities:

          Three months ended
    December 31,    		       Year ended
    December 31,    		    
          2024     2023         2024     2023      
        ($ in millions)   ($ in millions)  
                           
    Net cash flows from operating activities     678     511         2,196     1,779      
    Adjusted for:                      
    Interest paid on lease obligations     (4 )   (3 )       (14 )   (11 )    
    Interest paid on debt     (37 )   (37 )       (178 )   (133 )    
    Proceeds from sale of interest rate cap     –     –         –     5      
    Debt transaction costs     (3 )   (2 )       (16 )   (5 )    
    Payments of lease obligations     (29 )   (31 )       (118 )   (109 )    
    IRGA / TSS membership liability revaluation charge     (61 )   (58 )       (183 )   (152 )    
    Property and equipment purchased     (25 )   (13 )       (67 )   (42 )    
    Interest and dividends received     9     2         33     3      
                           
          527     369         1,653     1,333      
    Less amount attributable to                      
    Non-controlling interests     (45 )   (44 )       (180 )   (173 )    
                           
    Free cash flow available to shareholders     482     325         1,472     1,160      
                           
    Due to rounding, certain totals may not foot.                      
                           

    About Constellation Software Inc.

    Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation acquires, manages and builds vertical market software businesses.

    For further information:

    Jamal Baksh
    Chief Financial Officer
    (416) 861-9677
    info@csisoftware.com
    www.csisoftware.com

    SOURCE: CONSTELLATION SOFTWARE INC.

     
    CONSTELLATION SOFTWARE INC.
    Consolidated Statements of Financial Position
    (In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.)
             
             
            December 31, 2024     December 31, 2023  
             
    Assets    
             
    Current assets:    
      Cash $ 1,980   $ 1,284  
      Accounts receivable   1,292     1,138  
      Unbilled revenue   369     325  
      Inventories   56     51  
      Other assets   597     541  
            4,294     3,339  
             
    Non-current assets:    
      Property and equipment   223     142  
      Right of use assets   328     312  
      Deferred income taxes   219     108  
      Other assets   329     286  
      Intangible assets   7,470     6,675  
            8,569     7,523  
             
    Total assets $ 12,863   $ 10,862  
             
    Liabilities and Shareholders’ Equity    
             
    Current liabilities:    
      Debt with recourse to Constellation Software Inc. $ 303   $ 861  
      Debt without recourse to Constellation Software Inc.   319     225  
      Redeemable preferred securities   –     814  
      Accounts payable and accrued liabilities   1,589     1,427  
      Dividends payable   21     21  
      Deferred revenue   1,967     1,757  
      Provisions   22     9  
      Acquisition holdback payables   225     168  
      Lease obligations   115     112  
      Income taxes payable   111     89  
            4,672     5,483  
             
    Non-current liabilities:    
      Debt with recourse to Constellation Software Inc.   1,855     863  
      Debt without recourse to Constellation Software Inc.   1,689     1,385  
      Deferred income taxes   673     604  
      Acquisition holdback payables   134     88  
      Lease obligations   252     236  
      Other liabilities   300     242  
            4,903     3,418  
             
    Total liabilities   9,575     8,901  
             
             
    Shareholders’ equity:    
      Capital stock   99     99  
      Accumulated other comprehensive income (loss)   (224 )   (99 )
      Retained earnings   2,919     1,876  
      Non-controlling interests   493     85  
            3,288     1,961  
             
             
             
    Total liabilities and shareholders’ equity $ 12,863   $ 10,862  
             
     
    CONSTELLATION SOFTWARE INC.
    Consolidated Statements of Income (loss)
    (In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.)  
             
           
             
        Years ended December 31,  
          2024     2023    
             
             
    Revenue      
    License $ 393   $ 386    
    Professional services   1,975     1,766    
    Hardware and other   302     268    
    Maintenance and other recurring   7,396     5,985    
          10,066     8,407    
             
    Expenses      
    Staff   5,322     4,493    
    Hardware   169     158    
    Third party license, maintenance and professional services   960     810    
    Occupancy   64     51    
    Travel, telecommunications, supplies, software and equipment   502     398    
    Professional fees   178     151    
    Other, net   182     138    
    Depreciation   182     162    
    Amortization of intangible assets   1,044     859    
          8,602     7,219    
             
             
    Foreign exchange loss (gain)   (26 )   43    
    IRGA/TSS Membership liability revaluation charge   183     152    
    Finance and other expense (income)   (60 )   (34 )  
    Bargain purchase gain   (10 )   (54 )  
    Impairment of intangible and other non-financial assets   28     26    
    Redeemable preferred securities expense (income)   58     597    
    Finance costs   280     192    
          452     922    
             
    Income (loss) before income taxes   1,011     265    
             
    Current income tax expense (recovery)   525     370    
    Deferred income tax expense (recovery)   (281 )   (166 )  
    Income tax expense (recovery)   244     204    
             
    Net income (loss)   767     62    
             
    Net income (loss) attributable to:      
    Common shareholders of Constellation Software Inc.   731     565    
    Non-controlling interests   37     (503 )  
    Net income (loss)   767     62    
             
    Earnings per common share of Constellation Software Inc.      
      Basic and diluted $ 34.48   $ 26.67    
             
             
    CONSTELLATION SOFTWARE INC.
    Consolidated Statements of Comprehensive Income (loss)
    (In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.)
             
             
             
      Years ended December 31,  
        2024       2023    
             
    Net income (loss) $ 767     $ 62    
             
    Items that are or may be reclassified subsequently to net income (loss):        
             
    Foreign currency translation differences from foreign operations and other, net of tax   (135 )     51    
             
    Other comprehensive income (loss), net of income tax   (135 )     51    
             
    Total comprehensive income (loss) $ 633     $ 113    
             
    Total other comprehensive income (loss) attributable to:        
    Common shareholders of Constellation Software Inc.   (119 )     38    
    Non-controlling interests   (16 )     13    
    Total other comprehensive income (loss) $ (135 )   $ 51    
             
    Total comprehensive income (loss) attributable to:        
    Common shareholders of Constellation Software Inc.   612       603    
    Non-controlling interests   21       (490 )  
    Total comprehensive income (loss) $ 633     $ 113    
             
                 
    CONSTELLATION SOFTWARE INC.
    Consolidated Statement of Changes in Equity
    (In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.)
                     
                     
    Year ended December 31, 2024
          Equity Attributable to Common Shareholders of CSI    
          Capital
    stock    		 Accumulated
    other
    comprehensive
    income (loss)    		 Retained
    earnings    		 Total Non-controlling
    interests    		 Total equity
                     
    Balance at January 1, 2024 $ 99 $ (99 ) $ 1,876   $ 1,877   $ 85   $ 1,961  
                     
    Total comprehensive income (loss):            
                     
    Net income (loss)   –   –     731     731     37     767  
                     
    Other comprehensive income (loss)            
                     
    Foreign currency translation differences from            
      foreign operations and other, net of tax   –   (119 )   –     (119 )   (16 )   (135 )
                     
                 
    Total other comprehensive income (loss)   –   (119 )   –     (119 )   (16 )   (135 )
                     
    Total comprehensive income (loss)   –   (119 )   731     612     21     633  
                     
    Transactions with owners, recorded directly in equity            
                     
    Non-controlling interests arising from business combinations   –   –     –     –     (0 )   (0 )
                     
    Conversion of Lumine Special Shares to subordinate voting shares of Lumine and settlement of accrued dividend on Lumine Special Shares through the issuance of subordinate voting shares of Lumine   –   –     –     –     872     872  
                     
    Conversion of Lumine Preferred Shares to subordinate voting shares of Lumine and settlement of accrued dividend on Lumine Preferred Shares through the issuance of subordinate voting shares of Lumine     (6 )   400     394     (394 )   –  
                     
    Other movements in non-controlling interests   –   –     (2 )   (2 )   (2 )   (4 )
                     
    Dividends paid to non-controlling interests   –   –     –     –     (89 )   (89 )
                     
    Dividends to shareholders of the Company   –   –     (85 )   (85 )   –     (85 )
                     
    Balance at December 31, 2024 $ 99 $ (224 ) $ 2,919   $ 2,795   $ 493   $ 3,288  
                     
                   
    CONSTELLATION SOFTWARE INC.              
    Consolidated Statement of Changes in Equity          
    (In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.)  
                       
                       
    Year ended December 31, 2023              
                       
          Equity Attributable to Common Shareholders of CSI      
          Capital
    stock    		 Accumulated
    other
    comprehensive
    income (loss)    		 Retained
    earnings    		 Total Non-controlling
    interests    		 Total equity  
                       
    Balance at January 1, 2023 $ 99 $ (150 ) $ 1,763   $ 1,713   $ 221   $ 1,933    
                       
    Total comprehensive income (loss):              
                       
    Net income (loss)   –   –     565     565     (503 )   62    
                       
    Other comprehensive income (loss)              
                       
    Foreign currency translation differences from              
      foreign operations and other, net of tax   –   38     –     38     13     51    
                       
    Total other comprehensive income (loss)   –   38     –     38     13     51    
                       
    Total comprehensive income (loss)   –   38     565     603     (490 )   113    
                       
    Transactions with owners, recorded directly in equity              
                       
    Special dividend of Lumine Subordinate Voting Shares   –   12     (378 )   (366 )   366     –    
                       
    Non-controlling interests arising from business combinations           2     2    
                       
    Acquisition of non-controlling interests   –   –     –     –     (2 )   (2 )  
                       
    Conversion of Lumine Special Shares to subordinate voting shares of Lumine   –   –     –     –     5     5    
                       
    Other movements in non-controlling interests   –   0     15     15     (17 )   (2 )  
                       
    Other distributions and movements in equity     2     (4 )   (3 )   –     (3 )  
                       
      Dividends to shareholders of the Company (note 17)   –   –     (85 )   (85 )   –     (85 )  
                       
    Balance at December 31, 2023 $ 99 $ (99 ) $ 1,876   $ 1,877   $ 85   $ 1,961    
                       
             
    CONSTELLATION SOFTWARE INC.
    Consolidated Statements of Cash Flows
    (In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.)  
                 
                 
                 
          Years ended December 31,  
            2024       2023    
                 
    Cash flows from (used in) operating activities:        
      Net income (loss) $ 767     $ 62    
      Adjustments for:        
        Depreciation   182       162    
        Amortization of intangible assets   1,044       859    
        IRGA/TSS Membership liability revaluation charge   183       152    
        Finance and other expense (income)   (60 )     (34 )  
        Bargain purchase (gain)   (10 )     (54 )  
        Impairment of intangible and other non-financial assets   28       26    
        Redeemable preferred securities expense (income)   58       597    
        Finance costs   280       192    
        Income tax expense (recovery)   244       204    
        Foreign exchange loss (gain)   (26 )     43    
        Depreciation of third party costs   12       –    
      Change in non-cash operating assets and liabilities        
        exclusive of effects of business combinations   (45 )     (36 )  
      Income taxes paid   (460 )     (394 )  
      Net cash flows from (used in) operating activities   2,196       1,779    
                 
    Cash flows from (used in) financing activities:        
      Interest paid on lease obligations   (14 )     (11 )  
      Interest paid on debt   (178 )     (133 )  
      Proceeds from sale of interest rate cap   –       5    
      Increase (decrease) in CSI facility   (578 )     256    
      Increase (decrease) in Topicus revolving credit debt facility without recourse to CSI   73       27    
      Proceeds from issuance of debentures   –       209    
      Proceeds from issuance of Senior Notes   1,000       –    
      Proceeds from issuance of debt facilities without recourse to CSI   381       447    
      Repayments of debt facilities without recourse to CSI   (149 )     (282 )  
      Other financing activities   (25 )     (1 )  
      Dividends paid to non-controlling interests   (89 )     –    
      Debt transaction costs   (16 )     (5 )  
      Payments of lease obligations, net of sublease receipts   (118 )     (109 )  
      Distribution to the Joday Group   (64 )     –    
      Principal repayments to the Joday Group pursuant to the Call Notice   (22 )     –    
      Dividends paid to common shareholders of the Company   (85 )     (85 )  
      Net cash flows from (used in) in financing activities   114       316    
                 
    Cash flows from (used in) investing activities:        
      Acquisition of businesses   (1,347 )     (1,609 )  
      Cash obtained with acquired businesses   164       152    
      Post-acquisition settlement payments, net of receipts   (336 )     (238 )  
      Purchases of investments and other assets   (8 )     (23 )  
      Proceeds from sales of other investments and other assets   7       119    
      Decrease (increase) in restricted cash   (14 )     (2 )  
      Interest, dividends and other proceeds received   33       4    
      Property and equipment purchased   (67 )     (42 )  
      Net cash flows from (used in) investing activities   (1,567 )     (1,639 )  
                 
    Effect of foreign currency on        
      cash   (48 )     17    
                 
    Increase (decrease) in cash   696       473    
                 
    Cash, beginning of period $ 1,284     $ 811    
                 
    Cash, end of period $ 1,980     $ 1,284    
                 

    The MIL Network –

  • MIL-OSI Submissions: East Europe – Startup Moldova Summit 2025: The Biggest Startup & Investment Event in Moldova

    Source: Startup Moldova

    Chișinău, Moldova – March 06, 2025 –The Startup Moldova Summit is the country’s premier and most highly anticipated event, serving as the largest gathering for the startup ecosystem and business innovation. Unique in its scale, it attracts a diverse mix of international and local participants, startup founders, investors and industry leaders, offering a platform to showcase Moldova’s entrepreneurial and innovation potential.

    This year, the Startup Moldova Summit, now in its 5th edition, is expanding to twice the scale of last year, anticipating over 800 in-person attendees, 10,000+ online participants, and speakers from over 30 countries who will present on two dedicated stages. Over 50 investors and VC funds will be present for high-quality matchmaking and networking with startups.

    Startup Moldova Summit 2025 will focus on three key pillars essential for startup success: Talent, Scaling, and Investment. Attendees will have access to:

    Keynote Speeches, Presentations & Panel Discussions: Insights from top international investors, entrepreneurs, and industry leaders.
    Masterclasses & Practical Workshops: Practical sessions on fundraising, product development, scaling, and market expansion delivered by industry experts from around the world.
    Reverse Pitching Sessions: Investors will take the stage to pitch their offers to startups, giving founders a unique opportunity to align with investors expectations.
    Matchmaking & Networking: Facilitated B2B meetings between startups, investors, government and corporate partners.
    Post-Event Party: An informal gathering of top ecosystem players to combine business and wine tasting.

    For the first time, the Summit will host the Startup World Cup regional competition in Moldova. The founders will pitch their startups to local and foreign investors, and the winner will represent Moldova at the global Startup World Cup event in San Francisco later this year, competing for a $1,000,000 prize.

    Startup Moldova Summit 2025 is the must-attend event for:

    Entrepreneurs – looking to scale their businesses and attract investments.
    Investors – seeking the next big opportunity in Moldova’s emerging tech ecosystem.
    Corporate leaders – looking to stay ahead of innovation trend and connect with the next generation of disruptive startups.
    Tech and startup enthusiasts eager to gain insights from industry leaders, expand their networks, and be part of Moldova’s growing innovation movement

    Summit’s speakers lineup:  

    Fonz Morris, Design Lead, Global Conversion & Monetization at Netflix
    Sasha Vidiborskiy, Partner at Atomico
    Vasile Tofan, Senior Partner at Horizon Capital
    Marius Ghenea, Managing Partner at Catalyst Romania, Board Director at SeedBlink, ex-Jury at Arena Leilor
    Marius Istrate, Chairman of the Board at TechAngels Romania, ex-CPO at UiPAth
    Ashot Arzumanyan, Partner at SmartGateVC
    Irina Misca, Investment Manager at Fortech Investments

    About Startup Ecosystem in Moldova:

    Despite being a relatively young, with most startups still in the pre-seed and seed stages, 80% have already expanded beyond Moldova, successfully operating in regional and global markets. While no specific vertical dominates just yet, we’re seeing growing clusters in HealthTech, FinTech, MarTech, and EdTech.

    In 2024, Moldovan startups in our ecosystem generated over $40 million in revenue, created over 1,000 new jobs, with teams averaging just over nine members. 17% of startup co-founders are women. Moldovan startups raised over $44.5 million in investments over the last several years, out of which  $7.9 million —double the amount raised in 2023, was raised in 2024 by 30 startups. Most startups that secured investments in 2024 have raised multiple rounds, with a median of 2 rounds per startup.

    Top Performers 2024:

    NodeShift: a cloud service provider that enables companies to create and run safe applications on a budget – raised $3.2 million
    Greeno: a tool that offers accurate agronomic, financial, and sustainability insights for any specific field or farm – raised $1.325 million
    Fagura: a P2P platform for individuals and SMEs who borrow from and lend to each other – raised $1.1 million
    Aspect Health: a digital health platform dedicated to improving women’s metabolic health through innovative technology and lifestyle interventions – raised $1 million

    About Startup Moldova:

    Startup Moldova, the organiser of the summit, is a private foundation established in 2021, governed by a board of independent members from the IT, startup, and investment community. As the leading organization supporting Moldova’s startup ecosystem, Startup Moldova is committed to fostering innovation, entrepreneurship, and digital transformation. The Foundation actively engages with over 250 startups, tracking their progress in this database, and providing them with necessary expertise, funding, international exposure and other opportunities they need to thrive and contribute to the economic growth and prosperity of our nation.

    Although Moldova is one of the smallest countries in Europe, it is home to some of the most ambitious, innovative, and entrepreneurial individuals. The startup ecosystem of Moldova is rapidly growing, fueled by visionary founders and strong community support.

    The development of Moldova’s startup ecosystem began over 14 years ago. The Startup Moldova Summit has always been an integral part of this journey, initially organized within the ICT Moldova Summit. Five years ago, in response to the expanding startup community, the Startup Moldova Summit became an independent event organized by Startup Moldova in collaboration with key ecosystem partners: Moldova Innovation Technology Park, Dreamups, Technovator, XY Partners, Yep! Moldova, ATIC, Mozaic, and BAM.

    Startup Moldova Summit 2025 is organised with support from EU4Innovation East project, implemented by Expertise France, funded by the European Union and co-funded by the French Government. The event is also supported by Ukraine-Moldova American Enterprise Fund.

    Save your spot:

     Location: Chișinău, Moldova / Mediacor

     More details & registration: https://summit2025.startupmoldova.digital

    MIL OSI – Submitted News –

  • MIL-OSI: Canoe EIT Income Fund Announces March 2025 Monthly Distribution

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 07, 2025 (GLOBE NEWSWIRE) — Canoe EIT Income Fund (the “Fund”) (TSX – EIT.UN) announces the March 2025 monthly distribution of $0.10 per unit. Unitholders of record on March 21, 2025, will receive distributions payable on April 15, 2025.

    About Canoe EIT Income Fund
    Canoe EIT Income Fund is one of Canada’s largest closed-end investment funds, designed to maximize monthly distributions and capital appreciation by investing in a broadly diversified portfolio of high quality securities. The Fund is listed on the TSX under the symbol EIT.UN, and is actively managed by Robert Taylor, Senior Vice President and Chief Investment Officer, Canoe Financial.

    About Canoe Financial
    Canoe Financial is one of Canada’s fastest growing independent mutual fund companies managing over $19,5 billion in assets across a diversified range of award-winning investment solutions. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has a significant presence across Canada, including offices in Calgary, Toronto and Montreal.

    For further information, please contact:
    Investor Relations
    1–877–434–2796
    www.canoefinancial.com
    info@canoefinancial.com

    Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America.

    The Fund makes monthly distributions of an amount comprised in whole or in part of Return of Capital (ROC) of the net asset value per unit. A ROC reduces the amount of your original investment and may result in the return to you of the entire amount of your original investment. ROC that is not reinvested will reduce the net asset value of the fund, which could reduce the fund’s ability to generate future income. You should not draw any conclusions about the fund’s investment performance from the amount of this distribution.

    Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the information filed about the fund on www.sedar.com before investing. Investment funds are not guaranteed and past performance may not be repeated.

    This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.

    The MIL Network –

  • MIL-OSI Security: Former Refugee Pleads Guilty and Admits to Supporting ISIS

    Source: United States Attorneys General 7

    A former Iraqi refugee and legal permanent resident of Richmond, Texas, has entered a guilty plea to conspiracy to provide material support to a designated foreign terrorist organization.

    Abdulrahman Mohammed Hafedh Alqaysi, 28, admitted to providing material support and resources to the Islamic State of Iraq and al-Sham (ISIS).

    From 2015 to 2020, Alqaysi provided his computer expertise to develop and post logos for a media arm of the ISIS group known as the Kalachnikov team. He further sent hacking videos and instructions to ISIS members in addition to stolen credit card information and fraudulently created identity documents.

    U.S. District Judge Alfred Bennett accepted the plea and has set sentencing for June 5. Alqaysi faces a maximum penalty of 20 years in prison and up to a $250,000 fine. Alqaysi has been and will remain in custody pending that hearing.

    The FBI Houston Joint Terrorism Task Force investigated the case with assistance from Homeland Security Investigations.

    Assistant U.S. Attorney Heather Winter for the Southern District of Texas is prosecuting the case with assistance from Trial Attorney Michael Dittoe of the National Security Division’s Counterterrorism Section.

    MIL Security OSI –

  • MIL-OSI Security: Former CEO of Subprime Auto Lender Sentenced to Four Years in Prison in Connection With $67 Million Fraud Schemes

    Source: Office of United States Attorneys

    CHICAGO — The former Chief Executive Officer of a suburban Chicago subprime auto lending company has been sentenced to four years in federal prison for participating in a pair of fraud schemes that resulted in approximately $67 million in losses. 

    JAMES COLLINS was the CEO of Evanston, Ill.-based Honor Finance LLC.  From 2015 to 2018, Collins schemed with others to submit false information to a bank that had provided a $200 million warehouse line of credit to the company to fund its subprime loan portfolio.  The false information allowed Collins to avoid posting additional collateral while maintaining funding from the line of credit that the company otherwise might have had to return to the bank.  The false information also increased the amount of funding he received from a trust established by Honor and the bank to securitize thousands of loans in Honor’s portfolio and sell them as bonds to investors.  Collins selected certain vehicle loans for the trust that he knew were delinquent and not eligible to be included in the portfolio because money had already been advanced to those borrowers through improper accounting entries.  Collins hid the ineligibility of these loans from the bank, bond investors, and rating agencies.  As a result of the false representations and omissions regarding the line of credit and the trust, the bank lost approximately $62 million.

    Collins also engaged in a separate fraud scheme that involved the misappropriation of approximately $5.3 million from Honor. Collins and his co-schemers established a shell company called LHS Solutions that they used as a middleman between Honor and a third-party supplier of GPS devices.  Instead of Honor buying the devices directly from the supplier, as it had previously done, Collins had LHS Solutions purchase the devices before selling them to Honor Finance at inflated prices, with Collins and the co-schemers keeping and using the difference.  Collins also diverted commissions from the sales of vehicle warranties that should have gone to Honor.

    Collins, 55, of Evanston, Ill., pleaded guilty in 2023 to a federal mail fraud charge and stipulated to bank fraud.  On Wednesday, U.S. District Judge Franklin W. Valderrama imposed the prison sentence and ordered Collins to pay approximately $67 million in restitution.

    The sentence was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI.  Valuable assistance was provided by the U.S. Securities and Exchange Commission.  The government is represented by Assistant U.S. Attorneys Matthew Getter and Paige A. Nutini.

    A co-defendant, Honor Finance’s former Chief Operating Officer ROBERT DIMEO, of Park Ridge, Ill., pleaded guilty in 2022 to a mail fraud charge.  DiMeo is awaiting sentencing.

    MIL Security OSI –

  • MIL-OSI Security: Former Border Patrol Agent Pleads Guilty to Civil Rights Violations

    Source: Office of United States Attorneys

    Shane Millan Required Several Women to Expose their Breasts to Him While Virtually Processing their Admission to the United States

    SYRACUSE, NEW YORK – Shane Millan, age 53, of Jefferson County New York, pled guilty today in federal court in Syracuse to two counts of deprivation of rights under color of law. Acting United States Attorney Daniel Hanlon and Vance Kuhner, Special Agent in Charge for U.S. Customs and Border Protection, Office of Professional Responsibility, New York, NY, made the announcement.

    In pleading guilty today, Millan admitted that, while acting under color of law as a Border Patrol Agent, he willfully deprived multiple victims of their constitutional right to be free from unreasonable searches when, during virtual processing concerning their admission to the United States, he commanded the victims to expose their bare chests to him via webcam. Millan further admitted that he told these women that his requests were for legitimate searches incident to admission into the United States, but he knew his demands to see the victims’ breasts were for his own gratification.

    Millan is scheduled to be sentenced on July 7, 2025, by United States Magistrate Judge Thérèse Wiley Dancks. At sentencing, he faces up to two years’ imprisonment and a fine of up to $200,000. A defendant’s sentence is imposed by a judge based on the statute the defendant is charged with violating, the U.S. Sentencing Guidelines and other factors.

    U.S. Customs and Border Protection Office of Professional Responsibility Investigative Operations Directorate is investigating the case. Assistant U.S. Attorneys Michael F. Perry and Michael D. Gadarian are prosecuting the case.

    MIL Security OSI –

  • MIL-OSI Security: Marlborough Man Arrested for Possession of Four Kilograms of Cocaine

    Source: Office of United States Attorneys

    BOSTON – A Marlborough man has been arrested on cocaine trafficking charges.  

    Ricardo Guzman, a/k/a “Killin” 38, was charged by criminal complaint with one count of distribution and possession with intent to distribute cocaine and one count of possession with intent to distribute 500 grams or more of cocaine. Guzman was arrested on March 5, 2025 and appeared in federal court on March 6, 2025.

    According to the charging documents, on Jan. 6, 20205, a source allegedly purchased 499 grams of cocaine from Guzman in Marlborough, Mass. This purchase was audio and video recorded.  

    On March 5, 2025, the source allegedly arranged to purchase three kilograms of cocaine from Guzman in exchange for $75,000. It is alleged that Guzman was observed leaving the building where he resided with an unknown male carrying two large approximately five-gallon plaster buckets and placing them in a truck bed. The two men drove the truck a short distance when Guzman was observed getting out and entering his own vehicle, a red Volkswagen. Allegedly Guzman, alone in his vehicle, drove to a parking lot near the location where he planned to meet the source in Marlborough, Mass. Guzman’s vehicle was followed to this location by the truck. Once at the parking lot, Guzman was taken into custody and approximately half of a kilogram (500 grams) of suspected cocaine was found on his person. According to court documents, a search of the truck resulted in the seizure of approximately three and a half kilograms of suspected cocaine in the buckets in the truck bed.  

    The charge of distribution and possession with intent to distribute cocaine provides for a sentence of up to 20 years in prison, at least three years of supervised release and up to life and a fine of up to $1,000,000. The charge of possession with intent to distribute 500 grams or more of cocaine provides for a mandatory minimum of five years and up to 40 years in prison, at least four of supervised release and up to life and a fine of up to $5,000,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    United States Attorney Leah B. Foley and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement. Valuable assistance was provided by the U.S. Postal Inspection Service’s Boston Division and the Hudson, Marlborough and Stoneham Police Departments. Assistant U.S. Attorney J. Mackenzie Duane of the Narcotics and Money Laundering Unit is prosecuting the case.

    This case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/ocdetf.

    The details contained in the charging documents are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
     

    MIL Security OSI –

  • MIL-OSI Security: Former refugee admits to supporting ISIS

    Source: Office of United States Attorneys

    HOUSTON – A 28-year-old former Iraqi refugee and legal permanent resident of Richmond has entered a guilty plea to conspiracy to provide material support to a designated foreign terrorist organization, announced U.S. Attorney Nicholas J. Ganjei.

    Abdulrahman Mohammed Hafedh Alqaysi admitted to providing material support and resources to the Islamic State of Iraq and al-Sham (ISIS).

    From 2015 to 2020, Alqaysi provided his computer expertise to develop and post logos for a media arm of the ISIS group known as the Kalachnikov team. He further sent hacking videos and instructions to ISIS members in addition to stolen credit card information and fraudulently created identity documents.

    “The Department of Justice and the Southern District of Texas are committed to rooting out terror elements in our communities, wherever they may be,” said Ganjei. “If you’re working to subvert the United States through violence, you will be found and you will be punished.”

    U.S. District Judge Alfred Bennett accepted the plea and has set sentencing for June 5. At that time, Alqaysi faces up to 20 years in federal prison and a possible $250,000 maximum fine.

    He has been and will remain in custody pending that hearing.

    The FBI Houston Joint Terrorism Task Force conducted the investigation with the assistance of Homeland Security Investigations. Assistant U.S. Attorney Heather Winter is prosecuting the case along with NSD Trial Attorney Michael Dittoe.

    MIL Security OSI –