NewzIntel.com

Category: Finance

  • MIL-OSI Security: Winslow Man Sentenced to 8 years in Federal Prison for Possession of Biological Weapon

    Source: Office of United States Attorneys

    FAYETTEVILLE – A Winslow, Arkansas man was sentenced yesterday to 96 months in prison without the possibility of parole for Possession of a Biological Agent.  The Honorable Judge Timothy L. Brooks presided over the sentencing hearing, which was held in the U.S. District Court in Fayetteville.

    According to court documents, in January 2024, a concerned citizen made an anonymous tip to the Washington County Sherriff’s office that Jason Kale Clampit, age 44, was manufacturing and may have poisoned one of his family members with ricin. Thereafter, an investigation revealed that Clampit had, in fact, produced ricin at his residence in Winslow, Arkansas, for the stated purpose of setting traps for trespassers. The investigation likewise revealed that during the manufacturing process, Clampit inadvertently exposed himself to ricin, which made him extremely ill. On January 24, 2025, a federal search warrant was executed by both the Bentonville Bomb Squad and an FBI Bioweapon Specialist team, which resulted in the confiscation of several items associated with processing ricin, and suspected ricin byproducts. On that same day, Clampit was taken into custody. While in jail, he made statements on a monitored phone call in which he directed others to dispose of liquid ricin contained in a jar that was secreted in a camper on his property. After listening to the monitored call, FBI agents responded quickly, contacted the individual Clampit directed, and located, in a trash can, a jar containing processed ricin.

    Clampit was indicted by a Grand Jury in the Western District of Arkansas in March 2024. He entered a plea of guilty in October 2024.

    U.S. Attorney Clay Fowlkes of the Western District of Arkansas made the announcement.

    The Federal Bureau of Investigation, the Washington County Sheriff’s Office, the Bentonville Police Department, and the Arkansas Department of Corrections Division of Community Correction (probation and parole) all investigated the case.

    Assistant U.S. Attorney Dustin Roberts prosecuted the case on behalf of the United States.

    Related court documents may be found on the Public Access to Electronic Records website @ www.pacer.gov. 

    MIL Security OSI –

  • MIL-OSI Security: Two Luzerne County Residents Charged With Drug Trafficking And Firearms Violations

    Source: Office of United States Attorneys

    SCRANTON – The United States Attorney’s Office for the Middle District of Pennsylvania announced that Craig Lee Hickson, age 34, of Plymouth, Pennsylvania, and Rasheeda Kelly, age 46, of Wilkes-Barre, Pennsylvania, were indicted on March 4, 2025, by a federal grand jury on drug trafficking and a firearms violations.

    According to Acting United States Attorney John C. Gurganus, the indictment alleges that on February 21, 2025, in Luzerne County, Hickson and Kelly conspired and attempted to distribute and possess with intent to distribute over 500 grams of methamphetamine.  The indictment also alleges that Kelly possessed several firearms as a felon prohibited from possessing firearms.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities and measuring the results.

    The case was investigated by Homeland Security Investigations (HSI) and the Pennsylvania Office of Attorney General. Assistant U.S. Attorney Jenny P. Roberts is prosecuting the case.

    The maximum penalty under federal law for this offense is life imprisonment, a term of supervised release following imprisonment, and a fine. A sentence following a finding of guilt is imposed by the Judge after consideration of the applicable federal sentencing statutes and the Federal Sentencing Guidelines.

    Indictments are only allegations. All persons charged are presumed to be innocent unless and until found guilty in court.

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    MIL Security OSI –

  • MIL-OSI USA: SEC Charges Investment Adviser and Two Officers for Misuse of Fund and Portfolio Company Assets

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today filed settled charges against registered investment adviser Momentum Advisors LLC, its former managing partner Allan J. Boomer, and its former chief operating officer and partner Tiffany L. Hawkins, for breaches by Boomer and Hawkins of their fiduciary duties when they misused fund and portfolio company assets.

    According to the SEC’s orders, from at least August 2021 through February 2024, Hawkins misappropriated approximately $223,000 from portfolio companies of a private fund she managed with Boomer and that was advised by Momentum Advisors. Specifically, Hawkins misused portfolio company debit cards in more than 100 transactions to pay for vacations, clothing, and other personal expenses, and caused herself to be paid compensation in excess of her authorized salary. As set forth in the orders, Hawkins concealed her misconduct from Momentum Advisors, from the portfolio companies’ bookkeeper, and from SEC staff, and Boomer failed to reasonably supervise Hawkins despite red flags of her misappropriation. The order against Boomer also finds that he caused the fund to pay a business debt that should have been paid by an entity he and Hawkins controlled, resulting in an unearned benefit to the entity of $346,904, and that Momentum Advisors failed to adopt and implement adequate policies and procedures and to have the fund audited as required.

    “As the orders find, Hawkins and Boomer breached their fiduciary duties and misused fund and portfolio company assets for their own benefit, all to the detriment of their clients,” said Thomas P. Smith, Jr., Associate Regional Director in the New York Regional Office. 

    The orders find that Hawkins and Boomer violated the antifraud provisions of the Investment Advisers Act of 1940, and that Momentum Advisors violated the compliance and custody rule provisions of the Advisers Act. Without admitting or denying the SEC’s findings, Hawkins, Boomer, and Momentum Advisors consented to the entry of cease-and-desist orders. Additionally, Hawkins agreed to pay a $200,000 civil penalty and to be subject to an associational bar; Boomer agreed to pay an $80,000 civil penalty and to be subject to a 12-month supervisory suspension; and Momentum Advisors agreed to a censure and to pay a $235,000 civil penalty.

    The SEC’s investigation was conducted by Alexander M. Levine, James Flynn, and Steven G. Rawlings, under the supervision of Mr. Smith, all of the New York Regional Office. The examination that led to the investigation was conducted by Emanuel S. Asmar, Majid S. Mahmood, and Arjuman Sultana of the Division of Examinations in the New York Regional Office.

    MIL OSI USA News –

  • MIL-OSI Security: Guatemalan National Charged with Child Exploitation Offenses

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

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, Anish Shukla, Acting Special Agent in Charge of the New Haven Division of the FBI, and West Haven Police Chief Joseph Perno announced that MARIO RENE GARCIA MARTINEZ, also known as “Mario Rene Martinez Garcia,” 33, a citizen of Guatemala was arrested today on a federal criminal complaint charging him with child exploitation offenses.

    As alleged in court documents and statements made in court, on two occasions in February 2024, in Connecticut, Garcia Martinez used his smartphone to record sexually explicit videos and images of a prepubescent minor female while she was sleeping.

    Garcia Martinez was arrested this morning in Valley Stream, New York.  He appeared this afternoon before U.S. Magistrate Judge S. Dave Vatti in Bridgeport and was ordered detained.

    The complaint charges Garcia Martinez with production of child pornography, an offense that carries a mandatory minimum term of imprisonment of 15 years and a maximum term of imprisonment of 30 years, and with possession of child pornography, an offense that carries a maximum term of imprisonment of 20 years.

    Acting U.S. Attorney Silverman stressed that a complaint is only a charge and is not evidence of guilt.  Charges are only allegations, and a defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.

    This matter is being investigated by the Federal Bureau of Investigation and the West Haven Police Department.  The case is being prosecuted by Assistant U.S. Attorney Daniel E. Cummings with the assistance of the Office of the State’s Attorney for the Judicial District of Ansonia-Milford.

    This prosecution is part of the U.S. Department of Justice’s Project Safe Childhood Initiative, which is aimed at protecting children from sexual abuse and exploitation. For more information about Project Safe Childhood, please visit www.justice.gov/psc.

    To report cases of child exploitation, please visit www.cybertipline.com.

    MIL Security OSI –

  • MIL-OSI Security: Convicted Sex Offender Sentenced to 10 Years in Federal Prison for Second Offense

    Source: Federal Bureau of Investigation (FBI) State Crime News

    WILMINGTON, Del. – Shannon T. Hanson, Acting U.S. Attorney for the District of Delaware, announced that Michael Natale, of Laurel, Delaware, was sentenced yesterday in the U.S. District Court for the District of Delaware for his crime of possessing child sexual abuse material. The Honorable Colm F. Connolly, Chief Judge, issued the sentence.

    In October 2024, Mr. Natale plead guilty to Possession of Child Sexual Abuse Material. The case against Mr. Natale arose from conversations he was having online with another individual on the instant messaging platform “Kik.” Mr. Natale and the other individual exchanged graphic videos depicting the sexual abuse of children, to include the sexual abuse of the other individual’s own young son. That individual was arrested and a search of her Kik account led to the identification of Mr. Natale.

    Today, Chief Judge Connolly sentenced Mr. Natale to 10 years of imprisonment. This sentence is the mandatory minimum sentence Mr. Natale must serve because he has a prior conviction in the State of Delaware for dealing in child pornography.

    Acting U.S. Attorney Hanson stated, “Our office has always been dedicated to the protection of Delaware’s most vulnerable community members, the children. We will continue to aggressively pursue those who exploit children for their own twisted satisfaction, especially those who refuse to change their behavior after previous convictions. I commend the FBI’s dedication and collaboration across districts in bringing this case, and that of Mr. Natale’s co-conspirator, to justice.”

    “Natale posed a significant threat to children as demonstrated by his repeated perverse and sick exploitation. Even in the darkest corners of the internet, the FBI will find a way to seek justice for our children and stop the monsters who threaten their innocence and sense of security,” said FBI Baltimore Special Agent in Charge William J. DelBagno.

    This case was investigated by the FBI. Assistant U.S. Attorney Briana Knox is prosecuting the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the District of Delaware. Related court documents and information is located on the website of the District Court for the District of Delaware or on PACER.

    MIL Security OSI –

  • MIL-OSI United Kingdom: UK-Japan Economic 2+2

    Source: United Kingdom – Executive Government & Departments 3

    News story

    UK-Japan Economic 2+2

    The UK and Japanese governments have met for the Economic 2+2 Ministers’ Meeting

    On March 7, from 6:30 p.m. to 8:30 p.m. for approximately 2 hours, the Japan-UK Economic 2+2 Ministers’ Meeting (“Economic 2+2”) was held. The meeting was attended by Mr. IWAYA Takeshi, Minister for Foreign Affairs of Japan, Mr. MUTO Yoji, Minister of Economy, Trade and Industry of Japan, the Rt. Hon. David Lammy MP, Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom of Great Britain and Northern Ireland, and the Rt. Hon. Jonathan Reynolds MP, Secretary of State for Business and Trade of the United Kingdom of Great Britain and Northern Ireland. The overview of the meeting is as follows.

    At the outset, Minister Iwaya stated that it was his pleasure to host the first Japan-UK Economic 2+2 Ministers’ Meeting in Tokyo, the establishment of which was announced by the leaders of Japan and the UK to promote dialogue on how trade and economic security converges with foreign policy; and hoped that today’s meeting would be an opportunity for both countries, as each other’s closest security partners in Europe and Asia, to strengthen their economic ties, building on the strong foundations of the Japan-UK Global Strategic Partnership articulated by the Hiroshima Accord.

    Minister Muto stated that he welcomed holding the Japan-UK Economic 2+2 Ministers’ Meeting and expressed his expectations for enhanced cooperation in areas such as economic security, energy, and innovation between Japan and the UK, which share fundamental values and continue to build a strong relationship.

    Foreign Secretary Lammy thanked Japan for hosting this inaugural meeting and underscored the importance of the dialogue in addressing the increasing convergence between economic and foreign policy issues and the significance of UK-Japan collaboration to forge a path in an increasingly volatile world.

    Minister Reynolds stated national security and economic growth are mutually reinforcing, and that he looked forward to using the discussion to explore areas of cooperation where the UK and Japan can jointly mitigate global risks to economic growth and trade.

    The global economic order now faces significant challenges. With shared fundamental values including freedom, democracy, and rule of law, the four Ministers from Japan and the UK committed to work to uphold these values by sustaining and strengthening a free, fair, and rules-based global economic order, and discussed issues on Economic Security, Free and Open International Trade, Energy Security, Global South as follows.

    Economic Security

    The four Ministers concurred that, given challenges in global trade, enhancing economic resilience internationally is an important contributor to sustainable and stable global growth.

    The four Ministers affirmed that coordination between partners and like-minded countries is essential to bolster economic resilience. Ministers also confirmed that the relationship between Japan and the UK is increasingly important and expressed their joint ambition to strengthen cooperation on economic resilience and economic security, including sharing analysis and insights, enhancing supply chain resilience and cooperation on critical and emerging technology issues.

    The four Ministers instructed officials to have meetings to take forward discussions to address the economic security challenges facing Japan and the UK, including enhancing supply-chain resilience, developing a fair market, and other relevant issues – with a view to enhancing their economic security partnership.

    The four Ministers concurred that this would support the industrial strategy partnership as discussed in the Strategic Economic Policy and Trade Dialogue.

     The four Ministers expressed concern over economic coercion, non-market policies and practices including harmful industrial subsidies, market-distorting practices of state-owned enterprises, as well as forced technology transfer, and harmful non-market overcapacity and other market distortions resulting from the non-market policies and practices.

     The four Ministers also reconfirmed the importance of cooperating with like-minded countries to build resilient and reliable supply-chains, including those for critical minerals that are essential for net-zero transition and digitalisation.

     In this regard, the four Ministers concurred to explore criteria that take into account not only economic factors, but also factors linked to the Principles on Resilient and Reliable Supply Chains, comprising of transparency, diversification, security, sustainability, and trustworthiness and reliability.

     Furthermore, the four Ministers concurred on continuing discussions to strengthen the coordination of their respective policies to further promote and protect critical and emerging technologies, recognising the importance of strategic public-private partnership, information exchange on economic security and the value of our two countries’ like-mindedness. The four Ministers concurred on deepening cooperation on export controls and research security to further facilitate the exchange of controlled goods and technologies between the two countries.

     The four Ministers welcomed the signing of Memorandums of Understanding between Japanese and UK industry partners that will facilitate joint Japan-UK supply chains and collaboration in the development of next-generation quantum computing.

     The four Ministers concurred on further strengthening effective export controls on materials, technology, and research that could be used for military purposes in a way that keeps pace with rapid technological developments.

     The four Ministers expressed their desire to see a just and lasting peace in Ukraine which ensures its future sovereignty and security. The four Minister reaffirmed their continued support to Ukraine in pursuit of peace through strength, in line with Ukraine’s needs. The four Ministers expressed their resolve to continue our comprehensive sanctions and economic measures to restrict as far as possible the revenues, goods, and technology Russia uses to fund and conduct its illegal war of aggression against Ukraine.

     To that end, the four Ministers concurred to continue action against Russia and countries supporting the Russian military complex through technical discussions to prevent diversion of key critical, specialist and emerging technologies. They reiterated their concern for China’s increasing support to Russia and Russia’s defense industrial base, which is decisively enabling Russia to maintain its illegal war in Ukraine.

    Free and Open International Trade

     The four Ministers reaffirmed the importance of the rules-based multilateral trading system with the WTO at its core as an important structure that affords legal stability and predictability for businesses, and concurred on moving towards strengthening all of the WTO’s functions, including negotiation, monitoring, deliberation and dispute settlement, as it marks the 30th anniversary of its establishment with an eye to the outcome of the 14th WTO Ministerial Conference (MC14) scheduled for next March.

     The four Ministers recognised the role played by plurilateral discussions and negotiations within the WTO in advancing issues of interest and called for the early incorporation of the Investment Facilitation for Development Agreement and the Agreement on Electronic Commerce into the WTO’s legal framework.

     The four Ministers also confirmed that they will work closely together in WTO discussions, including addressing contemporary trade-related issues such as non-market policies and practices, as well as climate change.

     The four Ministers emphasised the importance of developing robust international rules and norms and effectively utilising existing tools to ensure a global level playing field.

     In addition, the Japanese Ministers welcomed the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) last December, and the four Ministers recognised that the CPTPP is an important pillar in promoting a free and fair rules-based economic order in the Indo-Pacific region.

     The Ministers confirmed that they would continue to work closely together with other parties to ensure CPTPP remains a modern, high-standards agreement.

    Energy Security

     The four Ministers discussed energy security risks and opportunities for Japan-UK collaboration to support further development of clean energy supply-chains.

     Ministers welcomed the signing of the Memoranda of Cooperation on offshore wind cooperation among governments, organisations, companies and on cooperation in advanced robotics and autonomous systems, and welcomed the  civil-nuclear collaboration between companies and research institutions of both countries, including on advanced nuclear technologies, fusion energy, and  nuclear decommissioning.

     They reaffirmed that they would continue promoting energy cooperation between Japan and the UK to deliver energy security for their citizens.

     Furthermore, they acknowledged their collaboration in the clean energy sector and emphasised the importance of creating Japan-UK collaborative projects to accelerate the clean energy transition in third countries and to strengthen coordination in pursuit of this.  

     The four Ministers also reaffirmed their shared commitment to keeping a limit of 1.5C temperature rise within reach and achieving net zero by 2050.

     They confirmed the need to reduce reliance on energy supply from unreliable and hostile actors.

     All four Ministers concurred that Russia’s illegal, unjustifiable and unprovoked full-scale invasion of Ukraine threatens the security of the Euro-Atlantic and Indo-Pacific, which is inseparable.

    Engagement with Global South

     The four Ministers shared the recognition that it is important to further enhance cooperation with Global South countries to maintain and strengthen a rule-based international economic order and affirmed that they would engage with the Global South towards sustainable development and trade mechanisms that support economic development and poverty reduction.

     They noted the importance of the WTO 14th Ministerial Conference, which will be held in Cameroon – in supporting this.

    The four Ministers reaffirmed the need for Japan and the UK to remain advocates of a free, open, and rules-based international economic order in the face of growing risks of global economic fragmentation and concurred on continuing their bilateral cooperation in areas such as the economic policies of both countries and economic security, while deepening discussions and cooperation with like-minded countries in related fields.

    Updates to this page

    Published 7 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Garantex Cryptocurrency Exchange Disrupted in International Operation

    Source: US State of North Dakota

    Note: View the indictment here.

    Two Administrators Charged with Operating Multibillion-Dollar Crypto Money Laundering Service

    The Justice Department announced today a coordinated action with Germany and Finland to disrupt and take down the online infrastructure used to operate Garantex, a cryptocurrency exchange that allegedly facilitated money laundering by transnational criminal organizations — including terrorist organizations — and sanctions violations. Since April 2019, Garantex has processed at least $96 billion in cryptocurrency transactions.

    Garantex Splash Page

    In conjunction with the operation targeting Garantex, the Department also announced the unsealing of an indictment in the Eastern District of Virginia against Aleksej Besciokov, 46, a Lithuanian national and Russian resident, and Aleksandr Mira Serda (previously Aleksandr Ntifo-Siaw), 40, a Russian national and United Arab Emirates resident. Mira Serda and Besciokov are charged with money laundering conspiracy, and Besciokov is charged with conspiracy to violate sanctions and conspiracy to operate an unlicensed money transmitting business.

    According to court documents, between 2019 and 2025, Besciokov and Mira Serda controlled and operated Garantex. Besciokov was Garantex’s primary technical administrator and responsible for obtaining and maintaining critical Garantex infrastructure, as well as reviewing and approving transactions. Mira Serda was Garantex’s co-founder and chief commercial officer.

    Garantex received hundreds of millions in criminal proceeds and was used to facilitate various crimes, including hacking, ransomware, terrorism, and drug trafficking, often with substantial impact to U.S. victims. According to the indictment, Besciokov and Mira Serda knew that criminal proceeds were being laundered through Garantex and took steps to conceal the facilitation of illegal activities on its platform. For example, when Russian law enforcement sought records relating to an account registered to Mira Serda, Garantex provided incomplete information in response and falsely claimed the account was not verified. In reality, Garantex had associated the account with Mira Serda’s personal identifying documents, even while disclosing identifying information related to other accounts requested by Russian law enforcement.

    On April 5, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Garantex for its role in facilitating money laundering of funds from ransomware actors and darknet markets. According to court documents, despite the widespread publicity of the sanctions and Garantex administrator’s personal knowledge of them, Besciokov and his co-conspirators violated those sanctions by continuing to transact with U.S.-based entities. Further, Besciokov and his co-conspirators redesigned Garantex’s operations to evade and violate U.S. sanctions and induce U.S. businesses to unwittingly transact with Garantex in violation of the sanctions. For example, Garantex moved its operational cryptocurrency wallets to different virtual currency addresses on a daily basis in order to make it difficult for U.S.-based cryptocurrency exchanges to identify and block transactions with Garantex accounts.

    Despite doing substantial business in the United States and operating as a money transmitting business, Garantex failed to register with the Financial Crimes Enforcement Network (FinCEN) as required.

    On March 6, U.S. law enforcement, led by the U.S. Secret Service (USSS), executed a seizure order authorized by a judge in the Eastern District of Virginia against three website domain names used to support Garantex’s operations. According to court records unsealed today, Garantex.org, Garantex.io, and Garantex.academy were associated with the administration and operation of Garantex. The seizure of these domains will prevent these sites from being used for money laundering and additional crimes. Individuals visiting those sites now will see a message indicating that the site has been seized by law enforcement.

    As part of the coordinated actions, German and Finnish law enforcement seized servers hosting Garantex’s operations. U.S. law authorities have separately obtained earlier copies of Garantex’s servers, including customer and accounting databases. In addition, U.S. law enforcement has also frozen over $26 million in funds used to facilitate Garantex’s money laundering activities.

    Besciokov and Mira Serda are each charged with one count of conspiracy to commit money laundering, which carries a maximum penalty of 20 years in prison. Besciokov is also charged with one count of conspiracy to violate the International Emergency Economic Powers Act, which carries a maximum penalty of 20 years in prison, and with conspiracy to operate an unlicensed money transmitting business, which carries a maximum penalty of five years in prison.    

    Supervisory Official Matthew R. Galeotti of the Justice Department’s Criminal Division, U.S. Attorney Erik S. Siebert for the Eastern District of Virginia, Assistant Director Michael Centrella of the USSS’ Office of Field Operations, and Assistant Director Bryan Vorndran of the FBI’s Cyber Division made the announcement.

    USSS and the FBI are investigating the case.

    Assistant U.S. Attorney Zoe Bedell for the Eastern District of Virginia and Trial Attorney Tamara Livshiz of the Criminal Division’s Computer Crime and Intellectual Property Section’s National Cryptocurrency Enforcement Team are prosecuting the case. The Justice Department’s National Security Division and Office of International Affairs provided valuable assistance.

    The Justice Department also recognizes the critical cooperation of the German Federal Criminal Police Office, the Frankfurt General Prosecutor’s Office, the Dutch National Police, Europol, the Finnish National Bureau of Investigation, and the Estonian National Criminal Police.

    Finally, the Department thanks Tether and blockchain analytics firm Elliptic for their proactive assistance in this investigation.

    Any individual who believes he/she is a victim whose funds were laundered through Garantex or who may otherwise have a claim to restrained funds should reach out to law enforcement via email address GarantexClaimants@secretservice.gov.

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

    MIL OSI USA News –

  • MIL-OSI Security: Florida Man Sentenced to Five Years in Prison for Telegram-Based Bank Fraud Scheme That Targeted Alabama Businesses

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

    BIRMINGHAM, Ala. – A Florida man has been sentenced for his role in a Telegram-based check fraud scheme, announced U.S. Attorney Prim F. Escalona and U.S. Secret Service Special Agent in Charge Patrick Davis.

    U.S. District Court Judge Madeline Haikala sentenced Gabriel Samuel Odiot, 21, of Kissimmee, Florida, to 60 months in prison and ordered him to forfeit $84,000. In December 2024, Odiot pleaded guilty to conspiracy to commit bank fraud and wire fraud and aggravated identity theft.

    According to the plea agreement and other court documents, from August 2022 to March 2023, Odiot served as an administrator of “RICH OFF PLAYS,” a Telegram channel dedicated to the negotiation of fraudulent checks. Odiot used the channel to recruit mail carriers, to advertise the services of bank insiders, and to collaborate with others to commit bank fraud. He frequently posted pictures and videos of himself committing bank fraud on the channel. These included pictures and videos depicting stolen checks, transaction receipts, and large amounts of cash. In many cases, the pictures and videos were branded with Odiot’s nickname “Motion.”

    The U.S. Secret Service investigated the case with assistance from the Federal Bureau of Investigation, the U.S. Postal Inspection Service, and the Heflin Police Department.  Assistant U.S. Attorney Edward J. Canter prosecuted the case. 

    MIL Security OSI –

  • MIL-OSI United Kingdom: Walking netball takes centre court for International Women’s Day

    Source: Northern Ireland City of Armagh

    Over fifty ladies from walking netball groups across Northern Ireland gathered at Banbridge Leisure Centre for on-the-court and off-the-court activities to celebrate International Women’s Day.

    The event was organised by Armagh City, Banbridge and Craigavon Borough Council’s Sports Development Department and funded by Sport NI, through the District Council’s Community Planning Investment Programme.

    Supporting on the day were Netball NI, Banbridge Netball Club and Billy Stewart from the Armagh, Banbridge and Craigavon Policing Community Safety Partnership (ABCPCSP) who spoke to the ladies about being vigilant for online scams, financial safety and ‘in case of emergency’ cards.

    The main event kicked off with a ‘shooter of the week’ challenge and warm-up activities before the competitions got into full swing between the ‘Jeth Throwers’ (Lurgan), the ‘Nutty Netballers’ (Larne), the ‘Nifty Netballers’ (Bangor), the ‘Lilies of the Valley’ (Newtownabbey) and the ‘Bann Ballers’ (Banbridge).

    After some show-stopping skills and impressive competitive spirit, Larne’s Nutty Netballers were crowned overall winners and awarded prizes sponsored by Netball NI. Local team ‘Bann Ballers’ finished in second place and received some baked goods sponsored by Irwin’s Bakery.

    Walking Netball has evolved from a growing demand for walking sports. The inclusive nature of the game encourages those who have dropped out of the sport they love due to serious injury, to those who believed they had hung up their netball trainers many years ago, to get going again! The fun, laughter and camaraderie throughout the social sessions are just as important as the health benefits from being active.

    The ‘Bann Ballers’ netball group was established after a successful pilot as part of ABC Council’s Positive Aging Month campaign. The group meets every Friday at Banbridge Leisure Centre from 12.30 – 1.30pm. New members are always welcome! For more information please visit www.getactiveabc.com/walkingnetball

    MIL OSI United Kingdom –

  • MIL-OSI USA: Bowman, Remarks on “Monetary Policy Transmission to Real Activity” and the Recent Experience

    Source: US State of New York Federal Reserve

    Thank you for the invitation to participate at this year’s U.S. Monetary Policy Forum conference. It is a pleasure to be here to discuss the conference report and present my views on the transmission of monetary policy to real activity in recent years.1 I would like to start by thanking the authors of the paper for their thoughtful and comprehensive analysis of the effects of monetary policy on economic activity. As you all may know, my background is in banking and bank regulation, so my experience with and interest in understanding the transmission and effects of monetary policy stems from my responsibilities as a Member of the Federal Open Market Committee (FOMC).
    Turning to the discussion, I will begin with a few comments and suggestions on the paper and then focus on how monetary policy and other factors influenced U.S. economic performance during the tightening cycle that started in March 2022. I will then conclude with some thoughts on the relevance of the results in the paper for monetary policy going forward.
    Comments and Suggestions on “Monetary Policy Transmission to Real Activity”The paper’s stated purpose is to estimate how monetary policy shocks affect gross domestic product (GDP) and employment through the use of a range of models. The evidence is generally similar to previous studies, supporting the broader principle that monetary policy exerts its effects with long lags and has a limited contribution to changes in real activity when the shock is small and not very persistent. We should keep in mind, however, that many other shocks hit the economy and that at times it may be hard to see the effects of monetary policy actions estimated in the paper as they work through the actual economy.
    The paper notes that a 1 percentage point increase in the federal funds rate that retraces gradually, taking five to six quarters to reach half of its initial size, has persistent negative effects on GDP and employment. At maximum, this shock lowers GDP by 0.4 percent in about 18 months and employment by 0.3 percent in about two years, on average across the models considered in the paper. However, there is a wide range of estimated responses, as they depend on each model specification and the data used. The most sensitive components of GDP are residential investment, business fixed investment, and durable goods consumption, which is consistent with employment in the construction and durable goods manufacturing industries being highly interest-rate sensitive.
    The paper analyzes the transmission of monetary policy to real activity, but it would have been very interesting to go one step further and also see the effects of monetary policy on inflation. This is especially relevant because the FOMC has been focused on bringing inflation down to its 2 percent target over the past few years. Of course, higher interest rates lower inflation by dampening aggregate demand and real activity, thereby removing pressure on resource utilization, wages, and prices.
    The authors use several models to analyze the transmission of monetary policy. They use two well-known structural models created by Federal Reserve Board staff that have been used in Tealbook, the FRB/US and EDO models, in addition to two reduced-form VAR models, the New York Fed Bayesian VAR model and a simple four-variable proxy VAR model. It is reassuring that the estimated responses to a federal funds rate shock in the two models that I am most familiar with, the Board FRB/US and EDO models, seem consistent with previous findings.2
    One small issue is that neither of the VAR models directly includes the federal funds rate. The authors acknowledge this limitation in the analysis and address it by roughly estimating that a 100-basis points shock to the policy rate boosts the 1-year and 2‑year Treasury yields by 45 and 40 basis points, respectively. This approach may have resulted in the implied monetary policy shock in the two VAR models looking more persistent than in the two structural models. I would suggest the authors take another look at this aspect of their exercise, so that the contours of the monetary policy shocks look more similar across the different models.
    An alternative approach would have been to take the 1- and 2-year averages of the federal funds rate from the FRB/US and EDO impulse responses and possibly add a small term premium. This approach would have suggested larger effects of the federal funds rate shock on the 1- and 2-year Treasury yields than estimated by the authors. Another approach, especially in the proxy VAR setting, would have been to use a measure of the shadow federal funds rate, which provides a gauge of the overall monetary policy stance and is not constrained by the zero lower bound.3
    The paper focused on the effect of changes in the policy rate, but an important channel for the transmission of monetary policy is how it affects private interest rates that are relevant for households and businesses consumption and investment decisions. Private rates include interest rates charged on outstanding credit card balances, rates on auto and other durable goods loans, mortgage rates, and corporate bond yields. Although credit card rates move closely in line with the policy rate and include a time-varying spread that depends on the default risk profile of the borrower, longer-term private fixed rates on mortgages and corporate bonds depend on the expected path of the federal funds rate, the term premium embedded in longer-term Treasury yields, and risk spreads relative to Treasury securities of comparable maturity. Accordingly, monetary policy tools other than the policy rate, including forward guidance and the amount of securities holdings in the central bank’s balance sheet, are also important for the transmission of monetary policy since they can more forcefully affect the expected path of the federal funds rate, term premiums, and risk spreads.
    The authors analyze the contribution of major aggregate demand components to the overall effect of a monetary policy shock on GDP. One minor issue is that not all the models treat business investment equally. In particular, the EDO model includes inventory investment under business investment, while all other models do not appear to do so. This difference may contribute to the much larger initial reaction of business investment in the EDO model compared to the other models, as inventory investment reacts quickly to a shock in the federal funds rate.
    I would like to offer one last comment on the relatively small effect of monetary policy on real activity. Although I do not disagree with the authors’ assessment, I think that the estimated effects can cumulate to be quite sizable even for the transient unexpected shock considered. The FOMC quickly raised interest rates to fight surging inflation between March 2022 and July 2023 by a cumulative 5-1/4 percentage points. According to the average impulse responses, a shock of this magnitude would lead to declines of about 2 percent on the level of real GDP and 1.5 percent on the level of employment, which would translate into a similarly large increase in the unemployment rate if those who lost their jobs mostly remained in the labor force. This seems to suggest the potential for fairly large effects on real activity, especially when the monetary policy shock has more persistent effects on the policy rate and results in larger increases in term premiums and risk spreads.
    The Recent Tightening CycleThe FOMC started raising the federal funds rate in March 2022 to combat rising inflation. Although the initial rate hike was a mere 1/4 percentage point, the pace of tightening was faster over the remainder of the year, with an overall increase of more than 4 percentage points in the policy rate by the end of 2022. Rate hikes continued in smaller 1/4 percentage point steps the following year, adding to 1 additional percentage point increase by July 2023. As the authors note in the paper, the rapid pace of monetary policy tightening was somewhat surprising, especially as the FOMC was initially slow to react to signs that the rise in inflation during 2021 was not merely transitory and required more aggressive action.
    As financial conditions tightened rapidly and the yield curve inverted in 2022, fears of an impending recession started to rise, with Federal Reserve Board staff mentioning downside risks to real activity and that a mild recession seemed equally likely to the baseline Tealbook projection for sluggish economic growth over the next year.4 The staff eventually predicted a mild recession in the Tealbook forecast after the bank failures and banking system stress in the spring of 2023.5 Such recession was widely predicted and, in hindsight, it never materialized. As you well know, the yield curve inversion has not been the only predictor of recessions that has failed in recent years.
    On a Q4-over-Q4 basis, GDP growth slowed considerably in 2022 to a modest pace of only 1.3 percent. The components of GDP that exerted the most drag on growth that year were residential investment, goods consumption, and inventory investment, subtracting a total of 1‑1/2 percentage points from real GDP growth in 2022.
    Residential investment weakened rather quickly and fell more than 16 percent in 2022. The sharp decline in this category seems largely explained by higher mortgage rates, which surged more than 3 percentage points over the course of the year as the FOMC aggressively tightened monetary policy. In addition to higher interest rates, the 1-1/2 percent drop in goods consumption in 2022 likely reflected the imprint of higher inflation on real disposable income and the unwinding of previous fiscal stimulus.
    Somewhat at odds with the empirical results in the paper, business fixed investment continued to rise appreciably as special factors led to a delayed response to the rise in interest rates. A broader measure of business investment that includes inventories did show a slowdown in growth, but even this broad measure continued to rise appreciably in 2022. Business fixed investment was likely supported by construction of new microchip and battery plants, the continued boost to software investment following the switch to remote work, and a rebound in nonresidential structures and transportation equipment investment after their protracted decline over the pandemic.
    Payroll employment increased strongly in 2022 as labor force participation rose, the unemployment rate declined, and the labor market tightened considerably. Payroll employment moved back up to its pre-pandemic level and approached its trend as social distancing receded. The recovery dynamics in employment largely masked any effects from rising interest rates in 2022. The effect from higher interest rates on employment also tends to lag and be more persistent than the effect on GDP, so any effects likely showed up in 2023, an outcome that is consistent with the findings in the paper.
    Some Reasons Why the Economy OutperformedThe economy outperformed in 2023 as widespread predictions of an impending recession never materialized and instead growth picked up. From the point of view of the models in the paper, the stronger economy in 2023 also seems surprising, but this likely reflected other factors that influenced the economy and that are not accounted for in the model simulations.
    Despite significant tightening in broad financial conditions in 2023, GDP growth strengthened notably as fiscal policy turned from a drag into a meaningful boost to growth and potential output accelerated further due to increased immigration and strong productivity growth. These favorable supply developments allowed for stronger economic activity along with easing of inflationary pressures. Although growth surprised to the upside in 2023, labor market tightness eased with the unemployment rate edging up over the year and payroll employment growth slowing markedly.
    Faster GDP growth in 2023 was driven by a rebound in goods consumption, some recovery in residential investment, and stronger government spending. Goods consumption was boosted by strong gains in real compensation and personal income, including from declining inflation. Despite continued drag from higher mortgage rates, residential investment started recovering in 2023 as other factors supported demand. In particular, the labor market remained strong and household balance sheets were still healthy. The sharp rise in mortgage rates also created a lock‑in effect that increased demand for new housing and construction activity.
    The marked deceleration in employment in 2023 seems consistent with the longer lags in the response of employment to the rise in interest rates relative to that of GDP, especially as a significant portion of employment gains reflected increased labor supply from immigration, which allowed the labor market to come into better balance. Also consistent with the paper results, employment gains in the construction and durable goods manufacturing industries were more noticeably below their 2015-2019 trends than employment gains for the aggregate economy.
    As the authors argue, another reason why real activity was more resilient in the face of higher interest rates may have been the healthy balance sheets of households and businesses at the start of the tightening cycle. Households had accumulated excess savings during the pandemic, reflecting both increased fiscal stimulus and reduced consumption due to social distancing and supply bottlenecks.6 In fact, data from the Financial Accounts of the U.S. indicate that in the two years between the end of 2019 and the end of 2021, household bank deposits rose by nearly $4 trillion.7
    In addition, many households and nonfinancial businesses were able to refinance their mortgages and corporate bonds at very low rates during the pandemic. Although higher interest rates likely held back additional consumption expenditures and investment spending, they had less of an effect on households’ and nonfinancial businesses’ net cash flows as the average interest rates on household mortgages and business debt remained low.8
    With historically low borrowing costs during the pandemic era, mortgage originations and refinancing activity reached very high levels. As a result, the share of outstanding mortgages with an interest rate below 4 percent increased to nearly 70 percent by 2022 and it remains well above pre-pandemic levels today. Similarly, nonfinancial businesses issued record amounts of corporate bonds and extended the maturity of their debt to avoid new debt issuance earlier in the subsequent rate hiking cycle. Between 2020 and 2021, the fraction of triple-B corporate bonds maturing within three years fell to its lowest levels in nearly 20 years.
    Fiscal policy also reentered expansionary territory in 2023, with above-trend stimulus partly driven by strong state and local government spending. Although the unwinding of COVID-19 fiscal support continued in 2023, the federal budget deficit turned back up and rose to near 6 percent of GDP, while the primary deficit inched up towards 4 percent of GDP. These deficit levels are unusual for an expansion, especially as fiscal policy seems to have contributed to the degree of tightness in the economy.
    One way to describe the resiliency of real activity to higher interest rates during the recent tightening cycle is to say that some of the previously noted factors led to a rise in r-star. Higher population growth, from the influx of new immigrants, and higher productivity growth, arguably from the use of new technologies like artificial intelligence and the surge in new business formations, especially in high-tech industries, have likely boosted investment demand. In addition, the lack of significant fiscal consolidation has also increased demand for savings. An economy with stronger investment demand and very little household savings likely requires a higher equilibrium interest rate relative to pre-pandemic norms.
    Relevance of Results for Monetary Policy Going ForwardThe U.S. economy has been experiencing major shocks and structural changes since the pandemic, which may have influenced or masked the transmission of monetary policy to real activity. It is, therefore, not straightforward to see how the impulse responses shown in this paper have translated in practice. And, as the paper acknowledges, a large portion of the fluctuations in real activity are driven by shocks other than those to monetary policy. Although the FOMC has been focused on lowering inflation in the past few years, as we continue to make progress on approaching our 2 percent target, I expect that the labor market and economic activity will become a larger factor in the FOMC’s policy discussions. Accordingly, the stylized results on real activity effects in the paper will prove especially useful going forward.
    ConclusionI will conclude by saying that I enjoyed the paper, and that I appreciate the opportunity to be here to share my views on this topic. I look forward to the discussion and to hearing feedback from other participants and the perspective of my FOMC colleague and fellow discussant.
    ReferencesAladangady, Aditya, David Cho, Laura Feiveson, and Eugenio Pinto (2022). “Excess Savings during the COVID-19 Pandemic,” FEDS Notes. Washington: Board of Governors of the Federal Reserve System, October 21.
    Brayton, Flint, Thomas Laubach, and David Reifschneider (2014). “The FRB/US Model: A Tool for Macroeconomic Policy Analysis,” FEDS Notes. Washington: Board of Governors of the Federal Reserve System, April 3.
    Board of Governors of the Federal Reserve System (2022). “Minutes of the Federal Open Market Committee, November 1-2, 2022,” press release, November 23, 2022.
    Board of Governors of the Federal Reserve System (2023). “Minutes of the Federal Open Market Committee, March 21-22, 2023,” press release, April 12, 2023.
    Castro, Andrew, Michele Cavallo, and Rebecca Zarutskie (2022). “Understanding Bank Deposit Growth during the COVID-19 Pandemic,” FEDS Notes. Washington: Board of Governors of the Federal Reserve System, June 6.
    Chung, Hess, Michael Kiley, and Jean-Philippe Laforte (2010). “Documentation of the Estimated, Dynamic, Optimization-based (EDO) Model of the U.S. Economy: 2010 Version (PDF),” Federal Reserve Board Finance and Economics Discussion Series 2010-29. Washington: Board of Governors of the Federal Reserve System, May.
    Eichenbaum, Martin, Sergio Rebelo, and Arlene Wong (2022). “State-Dependent Effects of Monetary Policy: The Refinancing Channel,” American Economic Review, vol. 112 (March), pp. 721‑61.
    Fabiani, Andrea, Falasconi, Luigi, and Heineken, Janko (2024). “Monetary Policy and the Maturity Structure of Corporate Debt,” unpublished paper, available at SSRN: http://dx.doi.org/10.2139/ssrn.3945615.
    Jungherr, Joachim, Matthias Meier, Timo Reinelt, and Immo Schott (2024). “Corporate Debt Maturity Matters for Monetary Policy,” International Finance Discussion Papers 1402. Washington: Board of Governors of the Federal Reserve System, December 6.
    Wu, J. Cynthia and F. Dora Xia (2016). “Measuring the Macroeconomic Impact of Monetary Policy at the Zero Lower Bound,” Journal of Money, Credit, and Banking, vol. 48 (March-April), pp. 253-91, https://doi.org/10.1111/jmcb.12300.

    1. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee. I would like to thank Eugenio Pinto and Michele Cavallo for their assistance in preparing these remarks. Return to text
    2. See Brayton et al. (2014) and Chung et al. (2010). Return to text
    3. The estimated measure of the shadow federal funds rate is based on the work by Wu and Xia (2016). Return to text
    4. See Board of Governors of the Federal Reserve System FOMC Minutes (November 2022). Return to text
    5. See Board of Governors of the Federal Reserve System FOMC Minutes (March 2023). Return to text
    6. See Aladangady et al. (2022). Return to text
    7. See Castro et al. (2022). Return to text
    8. The effectiveness of monetary policy can be substantially reduced both during a long period of low interest rates and for a long period after interest rates renormalize. See Eichenbaum et al. (2022) for the mortgage refinancing channel and Fabiani et al. (2024) and Jungherr et al. (2024) for the corporate debt maturity channel. Return to text

    MIL OSI USA News –

  • MIL-OSI Security: FBI Denver Warns of Online File Converter Scam

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

    The FBI Denver Field Office is warning that agents are increasingly seeing a scam involving free online document converter tools, and we want to encourage victims to report instances of this scam.

    In this scenario, criminals use free online document converter tools to load malware onto victims’ computers, leading to incidents such as ransomware.

    “The best way to thwart these fraudsters is to educate people so they don’t fall victim to these fraudsters in the first place,” said FBI Denver Special Agent in Charge Mark Michalek. “If you or someone you know has been affected by this scheme, we encourage you to make a report and take actions to protect your assets. Every day, we are working to hold these scammers accountable and provide victims with the resources they need.”

    To conduct this scheme, cyber criminals across the globe are using any type of free document converter or downloader tool. This might be a website claiming to convert one type of file to another, such as a .doc file to a .pdf file. It might also claim to combine files, such as joining multiple .jpg files into one .pdf file. The suspect program might claim to be an MP3 or MP4 downloading tool.

    These converters and downloading tools will do the task advertised, but the resulting file can contain hidden malware giving criminals access to the victim’s computer. The tools can also scrape the submitted files for:

    • Personal identifying information, such as social security numbers, dates of birth, phone numbers, etc.)
    • Banking information
    • Cryptocurrency information (seed phrases, wallet addresses, etc.)
    • Email addresses
    • Passwords

    Unfortunately, many victims don’t realize they have been infected by malware until it’s too late, and their computer is infected with ransomware or their identity has been stolen.

    The FBI Denver Field Office encourages victims or attempted victims of this type of scheme to report it to the FBI Internet Crime Complaint Center at www.ic3.gov.

    In addition, the FBI Denver Field Office recommends taking the following actions to protect yourself from this scam:

    • Take a breath, slow down and think. Be aware of your actions online and what risks you could be exposed to.
    • Keep your virus scan software up to date and scan any file you receive before opening it to help eliminate malicious software from being installed on your computer.

    If you are a victim of this scam, here are some steps to take:

    • Contact your financial institutions immediately. Take steps to protect your identity and your accounts.
    • Change all your passwords using a clean, trusted device.
    • Make a report at IC3.gov
    • Run up-to-date virus scan software to check for potentially malicious software installed by the scammers. Consider taking your computer to a professional company specializing in virus and malware removal services.

    MIL Security OSI –

  • MIL-OSI Security: La Oficina del FBI en Denver Advierte Sobre Estafas al Usar Los Conversores de Archivos en Línea

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

    La Oficina del FBI en Denver ha emitido una advertencia alertando sobre un aumento en las estafas relacionadas con herramientas en línea gratuitas para convertir documentos. Se insta a las víctimas a reportar cualquier caso relacionado con dichas estafas.

    En este tipo de esquemas, los delincuentes aprovechan las herramientas gratuitas de conversión de documentos en línea para cargar malware o ransomware en las computadoras de las víctimas.

    “Como parte de nuestros esfuerzos continuos para combatir el fraude, creemos que la forma más efectiva de detener a estos delincuentes es mediante la educación”, señaló Mark Michalek, agente especial a cargo de la Oficina del FBI en Denver. “Al promover la concienciación, podemos evitar que las personas caigan en estas trampas. Si usted o alguien que usted conoce ha sido afectado, le recomendamos que lo reporte de inmediato y tome las medidas necesarias para proteger sus activos. Todos los días trabajamos para responsabilizar a los estafadores y proporcionar a las víctimas el apoyo y los recursos necesarios.”

    Para llevar a cabo este esquema, los ciberdelincuentes de todo el mundo están aprovechando diversas herramientas gratuitas de conversión o descarga de documentos. Estas incluyen sitios web que prometen convertir archivos de un formato a otro, como transformar un archivo .doc en .pdf, o servicios que permiten combinar archivos, como unir varios .jpg en un solo .pdf. Además, los programas sospechosos pueden presentarse como herramientas para descargar archivos MP3 o MP4.

    Estos conversores y herramientas de descarga cumplen con lo que prometen, pero el archivo resultante contiene malware oculto que permite a los delincuentes acceder a la computadora de la víctima. Además, estas herramientas pueden recopilar los archivos enviados para extraer:

    • Información personal identificable, como números de seguro social, fechas de nacimiento, números de teléfono, entre otros.
    • Información bancaria.
    • Datos relacionados con criptomonedas (frases semilla, direcciones de billeteras, etc.).
    • Direcciones de correo electrónico.
    • Contraseñas.

    Desafortunadamente, muchas víctimas no se dan cuenta de que sus computadoras han sido infectadas con malware hasta que ya es demasiado tarde y su dispositivo ha sido comprometido con ransomware o su identidad ha sido robada.

    La Oficina del FBI en Denver exhorta a las víctimas, o a aquellos que hayan sido blanco de intentos de estafa, a denunciarlo en el Centro de Quejas de Crímenes en Internet del FBI en www.ic3.gov.

    Asimismo, recomienda seguir las siguientes precauciones para evitar caer en esta estafa:

    • Respire profundamente, tómese su tiempo y piense. Sea consciente de sus acciones en línea y los riesgos a los que podría estar expuesto.
    • Mantenga su software antivirus actualizado y escanee cualquier archivo que reciba antes de abrirlo para evitar la instalación de software malicioso en su computadora.
    •  

    Si es víctima de esta estafa, siga estos pasos:

    • Póngase en contacto con sus instituciones financieras de inmediato. Tome medidas para proteger su identidad y sus cuentas.
    • Cambie todas sus contraseñas utilizando un dispositivo limpio y confiable.
    • Reporte el incidente en IC3.

    Ejecute un escaneo con software antivirus actualizado para verificar si hay algún software malicioso instalado por los estafadores. Considere la posibilidad de llevar su computadora a un profesional para que la limpie.

    MIL Security OSI –

  • MIL-OSI United Kingdom: First £752 million tranche of loan sent to Ukraine for military equipment

    Source: United Kingdom – Executive Government & Departments

    News story

    First £752 million tranche of loan sent to Ukraine for military equipment

    The first £752 million tranche of the UK’s Extraordinary Revenue Acceleration (ERA) loan to Ukraine has been transferred in demonstration of the UK’s commitment to Ukrainian defence.

    • UK has sent first third of its £2.26 billion loan to Ukraine for the country to spend on military equipment in its hour of need

    • Chancellor Rachel Reeves visited RAF Northolt to meet with UK suppliers sending equipment to Ukraine

    • Delivery of the UK’s contribution to the G7 $50 billion Extraordinary Revenue Acceleration loan is the latest step in support for Ukraine from the UK government, with national security key to the Plan for Change

    The ERA funding is on top of the £3 billion a year commitment by the UK to provide military aid for Ukraine. The Prime Minister has been clear that a strong Ukraine is vital to UK national security.

    The money transferred yesterday Thursday 6 March, is part of a £2.26 billion loan backed by the profits of immobilised Russian sovereign assets, and will help Ukraine buy military equipment to defend itself against Russia’s unprovoked aggression.

    It follows the Prime Minister’s commitment to increase defence spending to 2.5% of GDP from 2027, with an ambition to reach 3% in the next parliament as economic and fiscal conditions allow, and announcing an additional £1.6 billion of UK Export Finance to Ukraine. National security is fundamental to the government’s Plan for Change, and will help improve the lives of people across the UK by growing the economy.

    To mark this signal of UK support, Chancellor of the Exchequer Rachel Reeves, visited RAF Northolt to meet Armed Forces personnel. She also met suppliers sending vital equipment to the Armed Forces of Ukraine through UK MoD rapid procurement contracts.

    Companies at RAF Northolt yesterday included Malloy, MBDA and Thales, as well as UK-based SMEs including Greenjets, Kirintec and Windracers – displaying a range of defence equipment such as air defence missiles, bomb disposal suits and cargo drones.

    Increased defence spending will support highly skilled jobs and apprenticeships across the UK. Last year, defence spending supported over 430,000 UK jobs the equivalent to one in every 60, with 68% of defence spending going outside of London and the Southeast, benefitting every nation and region of the country.

    Rachel Reeves, Chancellor of the Exchequer, said:

    “Now more than ever in this changed world, Ukraine needs our support as a reliable partner to secure peace following Russia’s unprovoked invasion.

    “British excellence and innovation in defence was on display as I visited RAF Northolt yesterday. Our contribution to the war effort via increased defence spending is also supporting UK industries and jobs and putting money back in the pockets of hardworking British people.”

    The multibillion-pound funding is the UK’s contribution to the G7 ERA Loans to Ukraine Scheme, through which G7 countries will collectively provide $50 billion to support Ukraine. The UK’s contribution is earmarked for military procurement to bolster Ukraine’s defences, and is being delivered in three £752 million payments. A tranched approach will allow for greater flexibility in military procurement, and will provide the best value for money for both the UK and Ukraine.

    Chancellor Reeves and Ukraine’s Finance Minister Sergii Marchenko signed the UK-Ukraine bilateral loan agreement on Saturday in the presence of Prime Minister Keir Starmer and Ukraine’s President Volodymyr Zelenskyy in No.11 Downing Street.

    Last week, the Chancellor alongside the Business Secretary and the Defence Secretary confirmed that a new UK defence innovation organisation will work with innovative firms to rapidly get cutting-edge military technology into the hands of British troops, and harness the ingenuity of the UK’s leading tech and manufacturing sectors.

    The Prime Minister and President Zelenskyy also signed a historic 100 Year Partnership in Kyiv earlier this year. The landmark treaty formalised the unbreakable bonds between the UK and Ukraine, broadening and deepening the relationship across defence and non-military areas and enabling closer community links.

    Updates to this page

    Published 7 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Security: Garantex Cryptocurrency Exchange Disrupted in International Operation

    Source: United States Attorneys General 1

    Note: View the indictment here.

    Two Administrators Charged with Operating Multibillion-Dollar Crypto Money Laundering Service

    The Justice Department announced today a coordinated action with Germany and Finland to disrupt and take down the online infrastructure used to operate Garantex, a cryptocurrency exchange that allegedly facilitated money laundering by transnational criminal organizations — including terrorist organizations — and sanctions violations. Since April 2019, Garantex has processed at least $96 billion in cryptocurrency transactions.

    Garantex Splash Page

    In conjunction with the operation targeting Garantex, the Department also announced the unsealing of an indictment in the Eastern District of Virginia against Aleksej Besciokov, 46, a Lithuanian national and Russian resident, and Aleksandr Mira Serda (previously Aleksandr Ntifo-Siaw), 40, a Russian national and United Arab Emirates resident. Mira Serda and Besciokov are charged with money laundering conspiracy, and Besciokov is charged with conspiracy to violate sanctions and conspiracy to operate an unlicensed money transmitting business.

    According to court documents, between 2019 and 2025, Besciokov and Mira Serda controlled and operated Garantex. Besciokov was Garantex’s primary technical administrator and responsible for obtaining and maintaining critical Garantex infrastructure, as well as reviewing and approving transactions. Mira Serda was Garantex’s co-founder and chief commercial officer.

    Garantex received hundreds of millions in criminal proceeds and was used to facilitate various crimes, including hacking, ransomware, terrorism, and drug trafficking, often with substantial impact to U.S. victims. According to the indictment, Besciokov and Mira Serda knew that criminal proceeds were being laundered through Garantex and took steps to conceal the facilitation of illegal activities on its platform. For example, when Russian law enforcement sought records relating to an account registered to Mira Serda, Garantex provided incomplete information in response and falsely claimed the account was not verified. In reality, Garantex had associated the account with Mira Serda’s personal identifying documents, even while disclosing identifying information related to other accounts requested by Russian law enforcement.

    On April 5, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Garantex for its role in facilitating money laundering of funds from ransomware actors and darknet markets. According to court documents, despite the widespread publicity of the sanctions and Garantex administrator’s personal knowledge of them, Besciokov and his co-conspirators violated those sanctions by continuing to transact with U.S.-based entities. Further, Besciokov and his co-conspirators redesigned Garantex’s operations to evade and violate U.S. sanctions and induce U.S. businesses to unwittingly transact with Garantex in violation of the sanctions. For example, Garantex moved its operational cryptocurrency wallets to different virtual currency addresses on a daily basis in order to make it difficult for U.S.-based cryptocurrency exchanges to identify and block transactions with Garantex accounts.

    Despite doing substantial business in the United States and operating as a money transmitting business, Garantex failed to register with the Financial Crimes Enforcement Network (FinCEN) as required.

    On March 6, U.S. law enforcement, led by the U.S. Secret Service (USSS), executed a seizure order authorized by a judge in the Eastern District of Virginia against three website domain names used to support Garantex’s operations. According to court records unsealed today, Garantex.org, Garantex.io, and Garantex.academy were associated with the administration and operation of Garantex. The seizure of these domains will prevent these sites from being used for money laundering and additional crimes. Individuals visiting those sites now will see a message indicating that the site has been seized by law enforcement.

    As part of the coordinated actions, German and Finnish law enforcement seized servers hosting Garantex’s operations. U.S. law authorities have separately obtained earlier copies of Garantex’s servers, including customer and accounting databases. In addition, U.S. law enforcement has also frozen over $26 million in funds used to facilitate Garantex’s money laundering activities.

    Besciokov and Mira Serda are each charged with one count of conspiracy to commit money laundering, which carries a maximum penalty of 20 years in prison. Besciokov is also charged with one count of conspiracy to violate the International Emergency Economic Powers Act, which carries a maximum penalty of 20 years in prison, and with conspiracy to operate an unlicensed money transmitting business, which carries a maximum penalty of five years in prison.    

    Supervisory Official Matthew R. Galeotti of the Justice Department’s Criminal Division, U.S. Attorney Erik S. Siebert for the Eastern District of Virginia, Assistant Director Michael Centrella of the USSS’ Office of Field Operations, and Assistant Director Bryan Vorndran of the FBI’s Cyber Division made the announcement.

    USSS and the FBI are investigating the case.

    Assistant U.S. Attorney Zoe Bedell for the Eastern District of Virginia and Trial Attorney Tamara Livshiz of the Criminal Division’s Computer Crime and Intellectual Property Section’s National Cryptocurrency Enforcement Team are prosecuting the case. The Justice Department’s National Security Division and Office of International Affairs provided valuable assistance.

    The Justice Department also recognizes the critical cooperation of the German Federal Criminal Police Office, the Frankfurt General Prosecutor’s Office, the Dutch National Police, Europol, the Finnish National Bureau of Investigation, and the Estonian National Criminal Police.

    Finally, the Department thanks Tether and blockchain analytics firm Elliptic for their proactive assistance in this investigation.

    Any individual who believes he/she is a victim whose funds were laundered through Garantex or who may otherwise have a claim to restrained funds should reach out to law enforcement via email address GarantexClaimants@secretservice.gov.

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

    MIL Security OSI –

  • MIL-OSI: Changes in the Supervisory Board and Management Board of subsidiary

    Source: GlobeNewswire (MIL-OSI)

    The membership of the Supervisory Board of Aktsiaselts Infortar subsidiary Elenger Polska Sp. z o.o. is changing. As of 07.03.2025, Vaiko Tammeväli was called back from Supervisory Board based on a resolution of the sole shareholder of Elenger Polska Sp. z o.o. The Supervisory Board of Elenger Polska Sp. z o.o. will continue with five members.
    Additionally, the Supervisory Board has decided to appoint Paweł Szaniewski as a Management Board member. After these changes, the Management Board will continue with three members.
    The short description of the previous professional experience Vaiko Tammeväli and Paweł Szaniewski and the amount of shares in Infortar are attached to this notice.

    Infortar operates in seven countries, the company’s main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,228 people.

    Additional information:
    Kadri Laanvee
    Investor Relations Manager
    Phone: +372 5156662
    e-mail: kadri.laanvee@infortar.ee
    www.infortar.ee/en/investor
     
     

    Attachments

    The MIL Network –

  • MIL-OSI United Kingdom: Transforming Blenheim Estate’s low-grade farmland into woodlands for nature and communities

    Source: United Kingdom – Government Statements

    Case study

    Transforming Blenheim Estate’s low-grade farmland into woodlands for nature and communities

    Blenheim Estate planted 270,000 trees to improve biodiversity, water quality and public access, as well as generate income through timber production.

    Main facts

    • site: Blenheim Estate, Oxfordshire
    • size: 104 hectares with a further 47 hectares planned
    • type: multi-purpose lowland woodland with mixed broadleaf, some non-native species and conifer
    • species: 27 species including oak, hornbeam, lime, sycamore, wild cherry with a woody understorey. Experimental species are also included to assess climate change resilience. A small percentage of conifer will provide a productive timber crop and winter habitats for wildlife
    • grants: blended finance from Forestry Commission England Woodland Creation Offer (EWCO) and private investment from Morgan Sindall
    • date: EWCO application approved in October 2021, planting began in November 2021

    Main objective

    Convert low-grade, unprofitable agricultural land into new woodlands to deliver multiple benefits including carbon sequestration, improved biodiversity, water quality and public amenity access, starting with a 30-year woodland management cycle.

    Roy Cox, Estate Director said:

    The health of the area around an estate directly affects the wellbeing of the estate itself. By investing in new woodlands, we are making Blenheim a better place for the community to thrive.

    Investing in trees for all to enjoy

    The Blenheim Estate is set in the beautiful Oxfordshire countryside, covering 12,000 acres. Home to Blenheim Palace, it is a world heritage site and features several Sites of Special Scientific Interest. Its farming heritage spans hundreds of years, but with the phasing out of the Basic Payment Scheme the owners began seeking new opportunities. Aware of the dual crises of climate change and biodiversity loss, they seized the opportunity to invest in trees and woodlands and capitalise on the myriad of economic, social and environmental benefits trees offer.

    The Dorn and Glyme Valley Woodland Creation Scheme is creating 7 new woodlands. At the time of planting it was one of the largest woodland creation projects in the South East to date, transforming unproductive, low-grade agricultural land into a sustainable and commercially viable asset.

    The owners are planting over 270,000 new trees to sequester 20,000 tonnes of carbon over 25 years, which will boost biodiversity and generate wider community benefits – including a forest school and 15km of new woodland trails to enjoy and explore. The project will help the estate achieve their net zero aims and continue to prosper.

    Diversity and management delivering wider benefits

    Species diversity and active management help to secure the long-term health, resilience, and profitability of Blenheim’s new woodland. Planting has incorporated an innovative mix of 27 carefully selected species, from native broadleaves like hornbeam, lime, oak, sycamore, wild cherry, Norway maple, alder and beech, to experimental species such as paulownia, tulip tree and robinia. Several conifer blocks will deliver a productive timber crop and winter habitats for wildlife.

    This diverse mix will help reduce risk from pests and diseases and improve resilience to the effects of climate change. The controlled planting of novel species will provide valuable insight for studies on climate change resilience carried out by the University of Oxford.

    The design also includes an understorey of woody shrub species to create a diverse and self-sustaining ecosystem. Planting areas will be seeded with wild grass and a flower mix.

    The scheme incorporates long-term management plans, beginning with a 30-year management cycle with the Forest Canopy Foundation. Effective woodland management is vital for carbon sequestration, biodiversity gains and to achieve a profitable timber crop year-on-year. Well managed woodlands will not only ensure the estate can sequester carbon now, but far into the future through carbon being locked into timber products.

    The trees have been planted using biodegradable tree guards made of corn starch, supporting the estate’s aim to be plastic-free as far as possible. This approach provides valuable insight for ongoing research into plastic-free alternatives. In parallel, rabbit and deer fencing will protect young trees against browsing mammals.

    Great oaks from little acorns grow

    Many of the oak trees have been grown from acorns collected from Blenheim Park – providing a natural connection to the park and its heritage up and down the valley. A total of 11,402 acorns have been handpicked. Each one is labelled with the tree it came from. They will be planted along paths at entry points and key locations as special feature trees.

    Unlocking blended finance – through EWCO and private investment

    The Dorn and Glyme Valley scheme is multi-faceted and brings many natural capital benefits. It’s been made possible through a blended finance model – a combination of EWCO and private investment from Morgan Sindall, who are purchasing the carbon sequestered by the trees to help offset CO2 emissions.

    The scheme secured over £350,000 in additional contributions through EWCO for its benefits to:

    • nature recovery: by planting new native woodland in locations that will connect and expand existing woodland
    • water quality: by carefully positioning woodland to help filter soil particles
    • society: creating woodland close to people and granting permissive access via a 15km network of new paths

    It also trailblazes use of the Grown in Britain metric, based on the UK Forestry Standard, to quantify the provision of ecosystem services on each site. Using the metric helped to secure the private investment from Morgan Sindall.

    Liz Nicholson, Forestry Agent said:

    Courage, creative thinking and hard work are required to create a space and framework to realise the best markets which, in turn, will empower farming and forestry to develop into unsubsidised commercial sectors.

    Wildlife, water and wellbeing

    Woodlands provide huge benefits for people, nature, climate and the economy. The Dorn and Glyme Valley Woodland Creation Scheme at Blenheim is no exception:

    • the biodiversity of the area will improve significantly, most of the woodland blocks are close to, or adjoin existing native woodland and will help expand and connect natural habitats
    • an objective is to reduce siltation of Blenheim Lake, with the woodlands carefully positioned to improve water quality by helping to filter soil particles, reducing the frequency and costs of dredging the lake
    • the trees also provide natural flood management benefits, as well as further upstream in the Dorn valley – the Environment Agency are working with Blenheim Estate, Thames Water, and Evenlode Catchment Partnership to develop ‘Stage Zero’, a small slowing the flow project, which will recreate the impact of beavers on a catchment
    • the pandemic demonstrated the value that trees, woodlands and open spaces have on our physical and mental health, the scheme will improve access to nature for the community by creating a 15km circular trail with benches and glades, connecting communities across the estate, and will host a new forest school

    The scheme is designed as a 100-year project, leaving a lasting legacy for future generations.

    Top tips

    1. The Woodland Creation Planning Grant supports landowners in exploring the opportunities and constraints of a site. It helps facilitate a smooth transition of the final design to EWCO.
    2. Planting a diverse mix of species is important for overall woodland resilience and protection against pests and diseases.
    3. Active management, including ongoing deer and squirrel control, is vital to long-term success.
    4. Public access is not just a ‘nice thing to do’, there are sound economic and business models behind it.
    5. Trees and woodlands provide a profitable investment.

    Further information

    See the brochure version of this case study: Blenheim Estate brochure (PDF, 1.08 MB, 4 pages).

    For guidance on woodland creation and information on grants and available support, visit: Tree planting and woodland creation: overview.

    Find out how other farmers and landowners are benefitting from woodland creation, visit: Tree planting and woodland creation case studies.

    Updates to this page

    Published 7 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Global: Why a US minerals deal with Ukraine won’t deter Russian aggression

    Source: The Conversation – UK – By Patrick E. Shea, Senior Lecturer in International Relations and Global Governance, University of Glasgow

    The US vice-president, J.D. Vance, recently told Fox News that “the very best security guarantee” to prevent Russia from invading Ukraine again was “to give Americans economic upside in the future of Ukraine”.

    The implication is that the much-debated minerals deal, in which an investment fund managed by Kyiv and Washington would receive revenue from Ukraine’s natural resources, would create American economic interests in Ukraine. American security interests, it is suggested, could soon follow.

    Vance’s comments came with the deal hanging in the balance. A meeting at the White House on February 28, where the deal was expected to be signed, turned into a shouting match between Vance, the US president, Donald Trump, and his Ukrainian counterpart, Volodymyr Zelensky.

    Zelensky has since attempted to patch up relations with the Trump administration, announcing that he is ready to sign the deal at “any time and in any convenient format”. And Vance, when asked whether an agreement was still on the table, said Trump “is still committed” to reaching a deal.

    Having access to Ukrainian minerals is an important opportunity for America’s missile system electronics and electric vehicle industries. Ukraine is, for example, home to around one-third of all European lithium deposits, the key component in batteries.

    This access is particularly important now that China, which currently accounts for a high proportion of certain US mineral imports, has imposed a ban on exporting rare minerals to the US in retaliation for Trump’s tariff policies.

    But, while Ukraine’s minerals are tempting to the US and other world powers, a deal with Trump won’t help Ukraine’s security situation.

    Trump’s approach has two main flaws. First, research shows that investment typically follows security commitments, not the other way around. Investors seek markets that are stable and protected, rather than hoping their investments create those conditions.

    Previous US presidents have touted similar strategies without success. President William Howard Taft (1857-1930) championed “dollar diplomacy” in the early 20th century, promising that American investments would create stability across Latin America by “substituting dollars for bullets”.

    The reality proved quite different. Throughout this period, the US frequently used military force to protect oil interests in Latin America. But, because these interventions focused on extraction sites rather than defending entire countries, instability continued elsewhere in the region.

    Trump’s “America first” mantra suggests a similar pattern of defending American assets, and not necessarily the countries in which the assets reside.

    Second, the overall US commitment to protect American assets abroad is uncertain. The US has, since the end of the cold war, been selective about when and how it uses military force to protect overseas assets.

    Since 1991, the US military has intervened to protect American property in only four documented instances: Haiti in 2004, Lebanon in 2006, Egypt in 2011 and Yemen in 2012. These cases involved embassies and other smaller properties during periods of civil unrest, rather than defending economic interests.

    Recent presidents, including Trump, have been reluctant to use force to protect threatened American investments. US agribusiness giant Cargill, for example, had to close its operations in Ukraine’s eastern Donetsk region following Russia’s invasion in 2014.

    Building state capacity

    That said, economic relations with America can indeed bolster a partner state’s security. But my own research shows that this is largely through indirect channels, rather than the threat of military intervention.

    For example, US government departments, such as the US patent and trademark office, provide comprehensive training to partner states. Programmes involve training judges, police officers, prosecutors and policymakers to enforce intellectual property protections, administer land registries, combat counterfeiting and develop legal frameworks that protect investments.

    This capacity building not only helps American investors in these countries, but also improves the partner state’s overall capacity. More effective and capable bureaucracies are better able to manage and finance their military capabilities.

    Following Russia’s 2014 invasion of Ukraine, the US launched the agriculture and rural development support program. The initiative aimed to develop Ukraine’s institutional capacity for managing property rights and attracting diverse investments.

    The US Treasury brought in loan advisory firm First Financial Network to help Ukraine navigate its financial crisis after the invasion, while simultaneously building frameworks for foreign investment.

    By 2020, this partnership facilitated US investment firm Allrise Capital’s purchase of Odessa’s Chornomorets football stadium. This deal was described by John Morris, the president of First Financial Network, as demonstrating Ukraine’s ability “to sell assets to the international community”.

    These efforts did not deter Russia’s full-scale invasion in 2022. But they helped the Ukrainian government implement several administrative reforms in the years leading up to the invasion, including more efficient tax collection and professionalisation of civil servants. The government was better prepared for war than it would otherwise have been.

    The Ukrainian and Russian armies have been locked in battle for over three years.
    Kutsenko Volodymyr / Shutterstock

    If the US wants to enhance Ukraine’s security through economic means, the Trump administration would need to make two drastic changes.

    First, it would need to reinstate programmes that promote American investment abroad. After assuming office, Trump froze and began dismantling the United States Agency for International Development (USAid). The agency’s capacity-building efforts have security consequences.

    Second, for the US to have both an economic and security impact, Trump needs to reassure America’s allies. Assurances are not Trump’s speciality. On February 26, for example, Trump declined to say whether the US would defend Taiwan if it was attacked by China.

    Research suggests that investments follow alliances. But markets do not care about agreements alone. They respond to other signals too, like explicit statements of support. These statements of support also help to reassure allies and deter rivals.

    Unless Trump changes how he operates on the international stage, the economics of the mineral deal will not help Ukraine’s security situation.

    Patrick E. Shea does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Why a US minerals deal with Ukraine won’t deter Russian aggression – https://theconversation.com/why-a-us-minerals-deal-with-ukraine-wont-deter-russian-aggression-251436

    MIL OSI – Global Reports –

  • MIL-OSI Security: United States Attorney’s Office Charges 46 Illegal Aliens with Various Offenses including Immigration Crimes, Drug Trafficking, Weapons Offenses, and Child Pornography

    Source: Office of United States Attorneys

    DETROIT – Since January of this year, the United States Attorney’s Office for the Eastern District of Michigan has charged 46 aliens who were unlawfully present in the United States with offenses including illegal reentry into the United States, drug trafficking, illegal possession of firearms, and child pornography offenses. These aliens’ home countries include Guatemala, Honduras, Mexico, and Venezuela. Several had prior convictions for human smuggling, drug trafficking, drunk driving, assault, and theft. In many cases, the aliens had been returned to their home country numerous times but have continued to violate immigration laws by re-entering the United States.

    Recent cases include:

    Hector Bejerano-Bejerano, a native of Mexico, was located at a gas station in Novi, Michigan, when he was creating a nuisance to customers. He was arrested and identified by United States Border Patrol and found to have two prior federal immigration convictions, including one in which Bejerano-Bejerano was caught smuggling three other illegal aliens into the United States from Mexico. During this encounter, Bejerano-Bejerano fled from a Border Patrol Agent and assaulted him. According to court filings in that case, Bejerano-Bejerano was encountered by Border Patrol 18 times during 2021 alone.

    Dulce Rubio-Rivera, a native of Mexico, was found in Detroit, Michigan, when agents from the Federal Bureau of Investigation and Immigration and Customs Enforcement executed a federal search warrant at a house. Inside the house was Rubio-Rivera, along with drugs, a scale, ammunition and an AK-47 rifle. Rubio-Rivera pleaded guilty to conspiracy to distribute 6.25 kilograms of crystal methamphetamine.

    Luis Fernando Santillan-Valderrabano, a native of Mexico, was located in the passenger seat of a vehicle in Detroit. Santillan-Valderrabano was originally admitted into the United States on a special visa that permitted him to stay in the United States for only 72 hours and within 25 miles of the United States-Mexico border. However, five months later Santillan-Valderrabano was arrested and pleaded guilty to theft charges in Georgia. A year after that, he was again arrested and convicted in Nebraska for resisting arrest and felony theft. Santillan-Valderrabano was removed back to Mexico in 2009, but illegally returned and was arrested in 2010 in Ithaca, Michigan, for a driving offense. Santillan-Valderrabano was removed again but tried to sneak back into the United States in 2011, was caught, and federally prosecuted in Texas for illegal entry. Santillan-Valderrabano was removed a third time in 2011, but again tried to illegally enter the United States, was caught, federally prosecuted in Texas for illegal reentry, and removed in 2012. In 2021, he was arrested in Wixom, Michigan, for driving 86 miles per hour in a 45 mile per hour zone. During this encounter with police, he used a fake name and date of birth and failed to appear for his court hearing after being charged with reckless driving, providing false identification, and not having a vehicle operation license.

    Gustavo Placencia-Rosales, a native of Mexico who was unlawfully present in the United States, was arrested and charged in a criminal complaint with conspiracy to possess and possession with intent to distribute cocaine and carrying a firearm during and in relation to a drug trafficking offense. The complaint alleges that agents with the DEA have been investigating Placencia-Rosales for involvement in drug trafficking actitivies. Law enforcement initiated a traffic stop of a vehicle occupied by Placenia-Rosales, with three others, and recovered four brick-shaped packages that field tested positive as cocaine along with two firearms.

    Luis Gerardo Rodriguez-Rey, a native of Columbia who was unlawfully present in the United States, was arrested and charged in a criminal complaint with being an alien in possession of a firearm and ammunition.  According to the complaint, officers with the River Rouge Police Department were on routine patrol when they encountered Rodriguez-Rey traveling at a high rate of speed in a vehicle which did not have any exterior lights illuminated.  A traffic stop was conducted and upon a search of his person and vehicle, officers recovered a Smith & Wesson pistol along with ammunition.

    Luis Angel Alvarez-Alvarez, a native of Venuzuela, was arrested by agents of Immigration and Customs Enforcement’s Homeland Security Investigations and U.S. Border Patrol after agents stopped a vehicle that Alvarez-Alvarez was operating without a license plate.  Alvarez-Alvarez had a prior final order of removal at the time of the arrest.   During a search of his cellular device, officers discovered alleged child sexually abusive material.  Alvarez was charged with production and possession of child pornography and remains in custody pending the disposition of his charges.

    “The United States Attorney’s Office for the Eastern District of Michigan has a long-standing commitment to enforcing the immigrations laws of the United States, and that commitment is unwavering,” said Acting U.S. Attorney Julie Beck. “We will continue to work with our law enforcement partners to investigate and prosecute those individuals who are in our district unlawfully.”

    “These cases represent a fraction of the criminal aliens we and our federal partners arrest every day across the Detroit Sector that’s making this country safer than it was just a few short months ago,” said Detroit Sector Chief Patrol Agent John R. Morris. “I could not be more proud of our agents for their enforcement efforts as well as their ability to form strong bonds with our local, state and federal partnerships such as we see exemplified here with U.S. Immigration and Customs Enforcement.”

    “Keeping dangerous people and illicit drugs and weapons from infecting our communities is at the core of our comprehensive border security mandate,” said Director of Field Operations Marty C. Raybon. “The CBP Office of Field Operations is as committed as ever in protecting our homeland alongside our local, state, and federal law enforcement partners.”

    “Our ICE Detroit officers will continue to secure our communities through the apprehension and arrest of criminal aliens and immigration violators,” said ICE ERO Detroit Field Office Director Robert Lynch. “Working with our law enforcement partners, we have been able to apprehend serious public safety threats from foreign sex offenders to drug traffickers and aliens in possession of illegal firearms.”

    “As the investigative arm of the Department of Homeland Security, our agents are prioritizing investigations into bad actors who exploit our immigration system,” said ICE HSI Detroit acting Special Agent in Charge Jared Murphey. “From illegal aliens in possession of child sexually abusive material to dismantling human smuggling or trafficking rings, our ICE HSI team stands ready to safeguard the homeland alongside our partners.”

    “The men and women of DEA work hard – day in and day out – to protect families from the dangers and violence associated with drug trafficking in our communities,” said DEA Acting Special Agent in Charge Andrew Lawton.  “In that vein, we have prioritized our drug investigations on those involving violent, illegal criminals responsible for flooding our neighborhoods with deadly and dangerous drugs. We will continue to work with the Department of Homeland Security and our federal partners with immigration enforcement efforts.”

    “ATF, along with our Department of Justice partners, stand side by side with the Department of Homeland Security and other federal law enforcement partners in their efforts to enforce immigration laws and protect public safety,” said ATF Detroit Special Agent in Charge James Deir. “We remain committed to supporting coordinated enforcement actions to uphold the rule of the law and ensure the security of our communities.”

    “Members of the FBI’s Detroit Field Office, in collaboration with federal law enforcement partners—including Immigration and Customs Enforcement (ICE), U.S. Border Patrol (CBP), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), are actively investigating and apprehending individuals wanted for federal violations and those unlawfully present in the United States,” said Cheyvoryea Gibson, Special Agent in Charge of the FBI’s Michigan Division. “The FBI in Michigan remains steadfast in its mission to uphold the Constitution and ensure the safety and security of the American people.”

    A complaint/indictment is merely a formal charge and is not evidence of guilt.  Every defendant is presumed innocent unless and until proven guilty.  It is the burden of the government to prove guilt beyond a reasonable doubt.

    These cases were investigated by agents of Immigration and Customs Enforcement’s Enforcement and Removal Operations and Homeland Security Investigations, U.S. Border Patrol, U.S. Customs and Border Protection, the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Federal Bureau of Investigation and the Drug Enforcement Administration.

    These cases are being prosecuted by Assistant United States Attorneys in the National Security Unit of the United States Attorney’s Office.

    MIL Security OSI –

  • MIL-OSI Security: California Lawyer Sentenced to More Than Five Years in Federal Prison for Wire Fraud and Money Laundering

    Source: Office of United States Attorneys

    The defendant stole more than $2 million of client funds.

    Greenbelt, Maryland – U.S. District Judge Lydia K. Griggsby sentenced Matthew C. Browndorf, 54, of Irvine, California, to more than five years in federal prison for money laundering and wire fraud.

    Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the sentence with Special Agent in Charge William J. DelBagno of the Federal Bureau of Investigation (FBI) Baltimore Field Office and Special Agent in Charge Edwin Bonano, Federal Housing Finance Agency, Office Inspector General (FHFA-OIG). 

    According to the guilty plea, the defendant served as an attorney licensed to practice law in New York, Pennsylvania, and New Jersey, and was a named partner at a law firm. Browndorf was also majority owner and CEO of Plutos Sama, LLC, which operated as a holding company for his various business endeavors. 

    Plutos Sama, with Browndorf signing the purchase agreement as a managing member, procured the Fisher Law Group.  After Plutos Sama acquired the Fisher Law Group, it changed the name to BP Fisher which served as an organization that represented lending and loan servicing clients in foreclosure proceedings.  The newly acquired company had agreements with its clients to facilitate the foreclosure of a property, take out its expenses, and then return the remaining money.

    BP Fisher also maintained an Interest on Lawyer’s Trust Account (IOLTA) and operating account, which the defendant oversaw. An IOLTA is maintained in a financial institution for the deposit of funds received or held by an attorney or law firm on behalf of a client or third person.  All funds received into an IOLTA account must be delivered in whole or in part to a client, unless received as payment for fees owed to the lawyer by the client or in reimbursement for expenses that the lawyer properly advanced on behalf of the client.

    Over several years, the defendant led clients to believe that they had immediate access to the money in the two BP Fisher IOLTA accounts. But Browndorf was directing employees to transfer the clients’ money into Plutos Sama accounts and other accounts that he controlled.  The scheme caused more than $2.4 million in losses to BP Fisher’s clients. Browndorf used the stolen funds to pay for expenses such as his American Express credit card bill, car-lease payment to Ferrari and Maserati of Newport Beach, and mortgage.

    U.S. Attorney Hayes commended the FBI and FHFA-OIG for their work in this investigation. Ms. Hayes also thanked Assistant U.S. Attorneys Christopher Sarma, Joshua Rosenthal, and Matthew Phelps, who prosecuted the federal case.

    For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

    # # #

    MIL Security OSI –

  • MIL-OSI: Enstar Subsidiary Assigned “A” Financial Strength Rating by AM Best

    Source: GlobeNewswire (MIL-OSI)

    HAMILTON, Bermuda, March 07, 2025 (GLOBE NEWSWIRE) — Enstar Group Limited (NASDAQ: ESGR) announced today that the credit rating agency AM Best has assigned a Financial Strength Rating of “A” (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) to Cavello Bay Reinsurance Limited (Cavello Bay), a subsidiary of Enstar Group Limited (Enstar) and its primary non-life run-off consolidator and a Class 3B reinsurer. The outlook assigned to these Credit Ratings is stable.

    On issuing its rating, AM Best highlighted Enstar’s “long track record of effectively managing claims in complicated lines of business”, noting that the ratings reflect Enstar’s balance sheet strength, as well as its strong operating performance, which it believes should remain at the current level throughout the remainder of 2025.

    Matt Kirk, Enstar’s Group Chief Financial Officer, said, “The AM Best Financial Strength Rating reflects Enstar’s established standing in the global legacy market and is further confirmation of our strong capital position and the resilience of our business model. The “A” rating for Cavello Bay, our primary Bermuda reinsurer, affirms our commitment to insurance ratings and will enhance our ability to structure insurance transactions that support the strategic objectives of our partners.”

    About Enstar

    Enstar is a NASDAQ-listed leading global insurance group that offers innovative capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. A market leader in completing legacy acquisitions, Enstar has acquired more than 120 companies and portfolios since its formation in 2001. For further information about Enstar, see www.enstargroup.com.

    Cautionary Statement

    This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intent, belief or current expectations of Enstar and its management team. Investors can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as ‘aim’, ‘anticipate’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’, ‘plan’, ‘believe’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future events or performance. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Specifically, Enstar’s ability to structure and execute insurance transactions profitably is dependent on many factors. Important risk factors regarding Enstar can be found under the heading “Risk Factors” in our Form 10-K for the year ended December 31, 2024 and are incorporated herein by reference. Furthermore, Enstar undertakes no obligation to update any written or oral forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein, to reflect any change in its expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements, except as required by law.

    Contact:

    For Enstar:
    For Investors: Matthew Kirk (investor.relations@enstargroup.com)
    For Media: Jenna Kerr (communications@enstargroup.com)

    The MIL Network –

  • MIL-OSI: Gevo Provides Business Update

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD, Colo., March 07, 2025 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) (“Gevo”, the “Company”, “we”, “us” or “our”), a leading developer of cost-effective, renewable hydrocarbon fuels and chemicals with reduced greenhouse gas emissions, today reiterated the substantial potential Adjusted EBITDA1 growth we are targeting in 2025, and provided a business update. Gevo also announced that it ended the fourth quarter with cash, cash equivalents and restricted cash of $259.0 million2.

    Business Update – Path to Positive Run-Rate Adjusted EBITDA1

    • Gevo North Dakota: Carbon Capture and Sequestration (“CCS”) and Low-Carbon Ethanol Assets generated $150 million in revenue in its last fiscal year3and we expect it to immediately contribute $30 million to $60 million of Adjusted EBITDA1annually to Gevo’s carbon business. This facility in North Dakota, which was recently acquired from Red Trail Energy, LLC, is one of two low-carbon ethanol plants with operational CCS that exist today. The site has an operating, fully permitted Class VI CCS well, which captures over 160,000 tons of biogenic carbon dioxide annually; generates multiple times that amount in total carbon abatement; produces approximately 67 million gallons of low-carbon ethanol, including 2 million gallons of corn fiber ethanol with an ultra-low carbon intensity; and more than 230,000 tons of low-carbon animal feed and vegetable oil. As a result, this facility has one of the lowest carbon intensity scores in the industry, at 19 gCO2e/MJ (from British Columbia) or an estimated 21 gCO2e/MJ (under the Argonne-R&D-GREET model). We note that the ethanol 45Z tax credit, which takes effect in 2025 and expires in 2027 (unless renewed by legislation), provides a statutory $0.02 per gallon per carbon intensity point below approximately 50 gCO2e/MJ. In addition, we are developing an additional alcohol-to-jet (“ATJ”) project at this location for further future growth, leveraging our existing ATJ designs associated with the ATJ-60 project in South Dakota. The high quality carbon abatement credits generated at this plant are expected to further catalyze the development of the emerging market for carbon abatement products.
    • Renewable Natural Gas (“RNG”): We have achieved excellent operational results that are expected to improve further in 2025 and generate meaningful Adjusted EBITDA1. RNG produced in 2024 was 367,000 MMBtu, which was a 17% increase over the prior year, because of a successful gas upgrade capacity expansion. 2025 production is expected to further increase to over 400,000 MMBtu as a result of compressor and reliability upgrades. Our RNG facility has been approved by the Internal Revenue Service (“IRS”) to generate biogas 45Z tax credits. Based on the expected carbon intensity (“CI”) score for California LCFS of (339) gCO2e/MJ, a negative number, and depending on LCFS prices, monetization of the biogas 45Z tax credit, D3 RIN prices, and price of fossil based natural gas, we expect Adjusted EBITDA1 of $9 – 18 million in 2025.
    • Alcohol-to-Jet 603(“ATJ-60”) Project: The ATJ-60 project in Lake Preston, South Dakota continues to proceed towards financial close in 2025. In 2024, we received a conditional commitment for a loan guarantee with disbursements totaling $1.462 billion (excluding capitalized interest during construction) from the U.S. Department of Energy (“DOE”) Loan Programs Office (“LPO”) for our ATJ-60 project. With capitalized interest during construction, the DOE loan facility has a borrowing capacity of $1.63 billion. We are actively engaged with the DOE on the closing process for the conditional commitment. Our ATJ-60 project is expected to leverage American agriculture to produce both cost-effective fuels and food, which are integral for energy and food security of the United States. We believe our ATJ-60 project integrates seamlessly with existing energy infrastructure and catalyzes the development of the rural economy. The project is expected to generate 100 jobs at the facility, as well as 700 indirect positions in support, plus 1,000 high-paying trades jobs for the three years of construction5. This project is expected to have regional economic impact greater than $110 million per year. We are currently engaged with the DOE LPO on due diligence, definitive documentation, completing the environmental review process, and satisfaction of all conditions precedent that are required for financial close. We expect to incur $40 million of additional spend on ATJ-60 from January 1, 2025, until financial close. Our cumulative ATJ-60 development spending is expected to be partially reimbursed at project financial close. We may invest some or all of the reimbursed funds back into ATJ-60 as equity.
    • Verity: We are continuing to grow our Verity business, delivering our tracking and tracing solution to the market, expanding the customer base, and achieving revenue. Verity is a software-as-a-service (“SaaS”) business that achieved its goal of first customer revenue in 2024 and our grower program has grown to more than 200,000 acres, which is more than double the acreage in the program since the second quarter of 2024, with 100% farmer retention. Verity is a digital measure, report and verify (“MRV”) software platform for end-to-end traceability of the regenerative attributes of agricultural and low-carbon fuel products. This enables producers and customers to measure and track those attributes and create value in the marketplace, where demand for regenerative agriculture and fuels is increasing but visibility is lacking. Verity currently has agreements with seven agriculture processing plant customers, including five ethanol plants and two soybean processing facilities, to assist in tracking environmental attributes of corn, ethanol, animal feed, corn oil, soybean oil and renewable diesel. We believe Verity can provide substantial value to growers and processors of a wide variety of agricultural products globally, in markets valued at billions of dollars.
    • Ethanol to Olefins (“ETO”): We continue to advance our breakthrough, patented ETO technology. Our patented ETO process is designed to lower capital and operating costs of drop-in, bio-based hydrocarbon fuels and chemicals from ethanol, and adds to Gevo’s global portfolio of more than 300 patents, as well as proprietary processes and know-how concerning processes to convert carbohydrates to hydrocarbons. In October 2024, we signed a development agreement and licensed our ETO technology to Axens with the goal of accelerating the commercialization of our ETO technology for fuels. The alliance between Axens and Gevo was further broadened for ATJ commercialization in December 2024 under a new collaboration agreement. The goal of the alliance is to leverage the most advantaged technologies, which includes Axens Jetanol™ technology combined with Gevo’s plant designs, engineering, know-how, carbon tracking and complete business system. The alliance brings each partner’s complementary value propositions, real-world experience, substantially de-risked technologies, plant integrations, and pre-engineered systems to the ATJ space. We also extended a joint development agreement with LG Chem to accelerate the commercialization of bio-based chemicals using ETO. The global market for drop-in, low-carbon chemicals and materials is estimated to be $400 – 500 billion per year.

    Management Comment

    “Our strategic acquisition of Gevo North Dakota is transformative for our company,” commented Dr. Patrick Gruber, Gevo’s Chief Executive Officer. “The CCS and low-carbon ethanol provides us with an immediate pathway to monetize carbon abatement through the ethanol 45Z tax credit and by selling carbon abatement in the growing market and the available pore space provides additional opportunities for CCS expansion.”

    “In addition, our RNG business is poised for significant growth as we secure a permanent CARB LCFS carbon intensity score and monetize the biogas 45Z tax credit. Taken together, we see a path to achieving a potential run-rate positive Adjusted EBITDA in 2025, even before considering our ATJ-60 project. This is based on the hundreds of thousands of tons of carbon abatement per year that we are currently generating from this diversified, low-carbon asset base,” Dr. Gruber continued.

    Dr. Gruber added: “We are pleased that our DOE conditional commitment is progressing towards financial close. We are pleased to see that biofuels, ethanol, and aviation fuels are listed in President Trump’s Executive order “Declaring a National Energy Emergency”. Our ATJ-60 project, targeted for Lake Preston, South Dakota, is expected to create 100 direct jobs, and more than an estimated 700 indirect jobs. The project is expected to employ more than 1,000 construction workers for the three years needed to build the plant. It would draw corn from more than 230 farmers, and we would expect to pay farmers a premium for their regenerative agricultural practices.”

    “We never lose sight that we expect that Gevo’s proprietary, integrated ATJ process can deliver sustainable aviation fuel (“SAF”) with production cost similar to jet fuel made from crude oil,” Dr. Gruber said. “But our process can do this while also eliminating the carbon emission footprint across the whole life cycle of the fuel. It’s about addressing a growing market need, where customers will pay for carbon abatement, in addition to the jet fuel.”

    For more information on our business and plans, please refer to our updated corporate presentation, in the investor section of our website: www.gevo.com

    About Gevo

    Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including synthetic aviation fuel (“SAF”), motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States, turning by-products into clean, reliable energy. We also operate an ethanol plant with an adjacent carbon capture and sequestration (“CCS”) facility, further solidifying America’s leadership in energy innovation. Additionally, Gevo owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

    For more information, see www.gevo.com.

    Forward Looking Statements

    This release contains “forward-looking statements” within the meaning of the federal securities laws. All statements other than statements of historical fact are forward-looking statements, including statements related to the expected operation of Gevo North Dakota, the expected effect of the acquisition on Adjusted EBITDA, the expected annual Adjusted EBITDA from Gevo North Dakota, and the future prospects as a combined company, the expected CI score for our RNG project, the expected annual Adjusted EBITDA from the RNG project, the financing of the ATJ-60 Project, including the DOE conditional commitment, the expected economic impact of the ATJ-60 Project, the expected further spend on ATJ-60, the expected growth and economics of Verity, the technical advances of the ETO technology, the capabilities of Axens technologies, and the market for ETO technologies. These statements relate to analyses and other information, which are based on forecasts of future results or events and estimates of amounts not yet determinable. We claim the protection of The Private Securities Litigation Reform Act of 1995 for all forward-looking statements in this release.

    These forward-looking statements are identified by the use of terms and phrases such as “anticipate,” “assume,” “believe,” “estimate,” “expect,” “goal,” “intend,” “plan,” “potential,” “predict,” “project,” “target” and similar terms and phrases or future or conditional verbs such as “could,” “may,” “should,” “will,” and “would.” However, these words are not the exclusive means of identifying such statements. Although we believe that our plans, intentions and other expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that we will achieve those plans, intentions or expectations. All forward-looking statements are subject to risks and uncertainties that may cause actual results or events to differ materially from those that we expected.

    Important factors that could cause actual results or events to differ materially from our expectations, or cautionary statements, include among others, the risk that anticipated benefits, including synergies, from the acquisition of Gevo North Dakota may not be fully realized or may take longer to realize than expected; changes in legislation or government regulations affecting the future operations of the acquired assets and Gevo’s other project; and other risk factors or uncertainties identified from time to time in Gevo’s filings with the U.S. Securities and Exchange Commission (“SEC”). All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the cautionary statements identified above and in the section entitled “Risk Factors” and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2023 as well as other cautionary statements that are made from time to time in our other SEC filings and public communications. You should evaluate all forward-looking statements made in this release in the context of these risks and uncertainties.

    We caution you that the important factors referenced above may not reflect all of the factors that could cause actual results or events to differ from our expectations. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our operations in the way we expect. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

    Media Contact
    Heather Manuel
    VP of Stakeholder Engagement & Partnerships
    PR@gevo.com

    Investor Contact
    Eric Frey, PhD
    Vice President of Corporate Development
    IR@Gevo.com

    1   Adjusted EBITDA is a non-GAAP measure calculated by adding back depreciation and amortization, allocated intercompany expenses for shared service functions, and non-cash stock-based compensation to GAAP loss from operations, plus monetizable tax credits (if any) such as 45Q and 45Z.

    2   Includes $69.6 million of restricted cash.

    3   As reported in the SEC filings of the previous owner, Red Trail Energy, LLC, prior to Gevo’s acquisition of substantially all of its ethanol and CCS assets. Based on Fiscal Year ending September 30 under the previous owner.

    4   Formerly known as our NZ-1 Project.

    5   Based on a report by Charles River Associates, available on Gevo’s website.

    The MIL Network –

  • MIL-OSI: Changes in Inbank Articles of Association

    Source: GlobeNewswire (MIL-OSI)

    AS Inbank has proposed the following amendments to the Inbank Articles of Association for approval at the Annual General Meeting of Shareholders on 31 March 2025:

    6.3 The Supervisory Board has a right, within 3 (three) years as of the entry into force of the version of the articles of association, to increase the share capital by monetary contributions by EUR 76,000, i.e. to increase the share capital to the amount of EUR 1,227,966.30.

    7.9 The Bank may be represented in transactions and legal operations by two members of the Management Board jointly. A person acting in the name of the Bank may not represent the Bank in concluding transactions or holding legal disputes with a third person with regard to whom the person acting in the name of the Bank or a person with an economic interest equivalent to that of such person has personal economic interests.

    Additional information:
    Styv Solovjov
    AS Inbank
    Head of Investor Relations
    +372 5645 9738
    styv.solovjov@inbank.ee

    The MIL Network –

  • MIL-OSI Security: FBI Philadelphia Reminds Spring Breakers of Safety Aboard Aircrafts

    Source: Federal Bureau of Investigation FBI Crime News (b)

    PHILADELPHIA—As March means spring break travel for many, the FBI Philadelphia Field Office advises travelers to remain vigilant and exercise caution when traveling aboard aircrafts and navigating airports.

    The FBI remains committed to prioritizing investigations into federal crimes occurring on aircrafts that endanger the safety of passengers, the flight crews, and flight attendants.

    “As spring breakers take to the skies, the FBI wants to remind them to prioritize safety while traveling through airports and flying,” said Wayne A. Jacobs, special agent in charge of FBI Philadelphia. “Working with our federal, state, and local partners, and most importantly the public, is key to identifying these threats and combating crime in airports and aboard aircrafts.”

    Each of the FBI’s 55 field offices have airport liaison agents (ALA). These agents are assigned to the nearly 450 U.S. aviation facilities that have passenger screening operations regulated by the Transportation Security Administration (TSA), and respond to crime aboard an aircraft, a violation which falls within the FBI’s special investigative jurisdiction.

    Some of the violations the FBI investigates if they are committed during a flight are listed below:

    • Sexual misconduct, including sexual assault; indecent exposure, lewd, indecent, sexual, or obscene acts; and indecent or sexual proposal to a minor.
    • Assault, including striking or hitting, throwing an object, grabbing or unwanted touching, and spitting.
    • Interference with flight crew members, including assault, threats, or intimidation and/or an attempt or conspiracy to do the same.
    • Theft

    In addition, the FBI investigates airport-based violations. This includes violence against persons and property at international airports if the victim or offender is a United States national, or if the offender is located within the U.S. It also includes interfering with airport security screening personnel ahead of a flight, including airport employees or airline employees working at the gate.

    The FBI also investigates bomb threats whether they are made on the ground or in-flight.

    Everyone should be aware of their surroundings while onboard an airplane or in an airport. If you have been the victim of one of these crimes or if you have witnessed one take place, report it to your flight crew, airport authority police and the FBI.

    FBI Philadelphia can be reached at (215) 418-4000 or tips can be reported online at tips.fbi.gov.

    MIL Security OSI –

  • MIL-OSI: Stansberry Asset Management Marks 2-Year Anniversary of Tactical Select Portfolio

    Source: GlobeNewswire (MIL-OSI)

    WESTLAKE, Texas, March 07, 2025 (GLOBE NEWSWIRE) — Stansberry Asset Management (SAM), an independent, registered investment advisor, celebrates the two-year anniversary of the SAM Tactical Select portfolio, highlighting the strong performance and adaptability the strategy has delivered for clients in a rapidly changing market environment.

    Launched in 2023, Tactical Select distinguishes itself by integrating SAM’s fundamental, qualitative investment process with the precision of a proprietary blend of analytical tools. SAM then further refines the list of investable securities through comprehensive quantitative screening that includes tools from TradeSmith Finance™. This isn’t just about running numbers; it’s about validating high-conviction investment ideas through rigorous, data-driven analysis. Unlike traditional tactical strategies, Tactical Select requires every potential investment to first pass SAM’s rigorous fundamental analysis. Only SAM’s favorite fundamental ideas are eligible as a potential Tactical Select investment. SAM then further refines the list of investable securities through comprehensive quantitative screening. This dual-layered approach ensures a portfolio built on both deep qualitative insight and statistically validated opportunities.

    The portfolio is updated as new investment opportunities are identified, with each potential addition undergoing the same rigorous screening process. Existing positions are also closely monitored, both fundamentally and using a set of quantitative risk metrics to help identify when an investment may no longer meet the portfolio’s criteria. Positions are trimmed or removed as necessary to maintain alignment with the portfolio’s disciplined, opportunity-focused approach.

    The portfolio’s overall exposure — how fully invested or defensive it is at any given time — is also guided by both top-down macroeconomic analysis as well as ongoing quantitative assessment of broader market conditions, allowing for reduced exposure during periods of heightened risk and more full participation in favorable environments.

    “Tactical Select was designed to bring our clients an innovative solution. It starts with the deep research SAM is known for and is enhanced by the power of data-driven insights,” said Austin Root, Chief Investment Officer at Stansberry Asset Management. “The strategy’s strong performance over the past two years demonstrates the value of overlaying a disciplined quantitative process with our thoughtful, fundamental investment selection — helping us manage risk and capture opportunities in real time.”

    Since its inception, the Tactical Select portfolio has delivered strong performance for clients, achieving a net total return of 38.67% as of January 31, 2025. This represents outperformance of 14.65% compared to its S&P 500 Equal Weight benchmark. This track record highlights the value of incorporating quantitative insights with nimble, tactical decision-making to help clients pursue growth while proactively managing risk. For additional information on the calculation of performance, including important disclosures, please click HERE.

    As a firm focused on informed, active management, SAM remains committed to delivering innovative investment strategies that align with clients’ long-term financial goals. The Tactical Select portfolio highlights SAM’s ongoing efforts to expand our solutions, anticipate client needs, and deliver forward-thinking investment strategies.

    For more information about the Tactical Select portfolio and SAM’s broader suite of investment strategies, please visit our website at www.stansberryam.com.

    The MIL Network –

  • MIL-OSI: Plug-in Mesh Home Battery Debuts from Pila Energy at SXSW

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, March 07, 2025 (GLOBE NEWSWIRE) — SXSW 2025 — Power outages are happening more often, lasting longer, and leaving homeowners and renters vulnerable. Today at SXSW 2025, Pila Energy introduced the Pila Mesh Home Battery, the first plug-in, modular in-home battery that delivers intelligent, automatic backup power throughout the home.

    Pila’s smart backup battery automatically powers essential appliances and rooms during outages—no rewiring, no extension cords, just seamless, integrated backup power for homeowners and renters alike. Unlike gas generators, Pila Batteries are silent, maintenance-free, and work indoors. Pila’s smart mesh technology seamlessly connects multiple batteries throughout the home, coordinating them to store solar or utility power and optimize stored energy for outage protection, bill savings, and more.

    Starting at $999 for early access reservation holders, Pila is the most cost-effective home battery. Its modular design lets households expand backup power as needed, eliminating the high upfront costs of traditional systems. Early Access Reservations are now open at www.PilaEnergy.com. Visit Pila Energy at SXSW Expo booth #821 to learn more and see a demonstration.

    How Pila Works
    Pila batteries plug into standard wall outlets, making them the simplest home battery to install. Consumers place Pila batteries where power matters most—on top of the fridge to keep food safe, in the home office to stay connected, next to the home’s sump pump to prevent flooding, and beyond. Pila’s sleek, compact design was developed in collaboration with award-winning Bould Design to blend seamlessly into any space.

    Pila is designed to fit the needs and budget of any home. Start with one battery and expand backup power to more rooms as needed. As more batteries are added, Pila’s smart mesh system seamlessly synchronizes them to manage home power intelligently—just like a Wi-Fi mesh network optimizes home internet.

    Each Pila Mesh Home Battery stores 1.6–3.2 kWh of energy, enough to power a fridge, charge phones, and run laptops for up to 2–3 days during an outage. For longer backup, additional Pila batteries can be placed throughout the home, or the Pila Expansion Pack can double the backup time for a specific room or appliance. Pila can recharge daily during an outage when paired with a plug-in solar panel, providing effectively unlimited backup power.

    What Sets Pila Apart

    • First Home Battery Designed as a Flexible Mesh Network. Like Wi-Fi mesh systems that optimize home internet, Pila’s modular batteries work together in the background to optimize energy usage across your home.
    • Smart and Affordable Backup Power. Pila lets users add backup power where needed most—without the high upfront cost of traditional systems. With a standard 5-year warranty and 10-year battery lifetime, Pila delivers affordable, long-lasting backup power.
    • No Rewiring, Easy Expansion. Plug Pila into any standard wall outlet—no rewiring, no complicated setup. Need more power? Adding additional Pila batteries takes seconds. Moving? Just unplug them and bring them with you.
    • Smarter Over Time. The Pila App, available for iOS and Android, provides real-time insights into home energy use, 24/7 monitoring of critical appliances like the fridge, and power outage alerts from anywhere. Free over-the-air updates deliver new features and improvements over time.
    • Sleek, All-in-One Design. Pila combines a safe LFP battery system, controllable smart power outlets, high-power USB charging ports, and a customizable display—all in one compact, elegant form.

    Pila’s Mission: Affordable Energy Independence
    Growing up in New Orleans, Pila founder Cole Ashman saw firsthand how devastating power outages can be. When Hurricane Katrina hit, entire neighborhoods sat in darkness for days, resulting in thousands of ruined refrigerators piled up on curbs throughout the city—a stark symbol of the nation’s fragile power system.

    “I’ll never forget that devastation,” Ashman recalls. “Today, outages are even more frequent as our aging grid struggles to keep up with the increasing intensity of natural disasters. Pila aims to change that—to put smart, safe peace of mind within reach for every home and apartment.”

    As a former SPAN product leader and a Tesla Powerwall engineer, Ashman designed Pila to bring infrastructure-grade energy solutions to everyday homes. “We built Pila at a price point that won’t break the bank while ensuring it has the intelligence to integrate with home energy systems and the power grid.”

    Investor & Industry Backing
    Pila Energy has received early-stage funding from Refactor Capital, Climate Capital, Jetstream, Looking Glass, and R7 Partners.

    “At Refactor, we back companies improving efficiency and scale in their respective industries. Pila’s smart battery system represents the next generation of home energy control and resilience, poised to disrupt the market,” said Zal Bilimoria, Founding Partner at Refactor. “We are very impressed with Pila’s innovative vision and the speed at which they have realized the product. With increased natural disasters, our homes and most essential electrical infrastructure must become energy-independent and grid-supportive over the next decade.”

    Pre-Order Now – The Smartest, Most Affordable Home Battery
    Pila Mesh Home Batteries are now available for pre-order in the U.S. with a $99 reservation. Pre-orders are available now at www.PilaEnergy.com, with shipping expected by the end of the year. Learn more about Pila’s mission at www.PilaEnergy.com/mission.

    Note to reporters: Images available here and Video available here.

    About Pila Energy
    Pila Energy is creating the next generation of home batteries, making reliable backup power and smart energy management widely accessible to households. With a sleek plug-in design and networked intelligence, Pila batteries seamlessly integrate into any home and turn everyday appliances into smart power hubs. Pila’s mission is to empower homes with greater energy independence while strengthening the resilience of the grid. For more information, visit PilaEnergy.com.

    Media Contact:
    Kelly Communications
    Kathryn@kellycommunications.org

    The Crooks Group
    Julie@thecrooksgroup.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f1626fb5-0234-4d1a-b22b-a7df05d32e15

    The MIL Network –

  • MIL-OSI: ETH staking simplified: Simply Staking presents Ethereum staking dashboard

    Source: GlobeNewswire (MIL-OSI)

    VALLETTA, Malta, March 07, 2025 (GLOBE NEWSWIRE) — Simply Staking’s new Ethereum staking program makes ETH staking easier than ever. Users can stake without holding 32 ETH, thanks to a user-friendly dashboard, secure Tier 3 data centers, and seamless wallet integration – removing barriers for both beginners and experienced crypto holders.

    In the fast-paced blockchain world, running a validator or node is costly and complex – especially for ETH staking. Simply Staking’s dashboard tackles this challenge, making staking simple and accessible, helping decentralize Ethereum through broader participation from both new and experienced users.

    ETH staking as simple as it gets

    The trusted crypto staking provider Simply Staking manages nearly $1 billion in staked assets across networks like Polkadot and Cosmos. Known for reliable validator operations, it now brings that expertise to ETH staking, strengthening its commitment to a secure, inclusive blockchain ecosystem across multiple protocols.

    The new ETH Staking dashboard streamlines onboarding and ensures top security through advanced data centers. By joining the staking pool, you earn rewards while supporting Ethereum 2.0’s scalability. Simply Staking welcomes all users, regardless of holdings, encouraging broader participation and driving the ongoing growth of the crypto economy.

    Key highlights

    1. Effortless staking: Simply Staking lets you stake ETH in a few steps – no specialized software needed, making crypto staking accessible to everyone.
    2. No 32 ETH requirement: Traditional staking needs 32 ETH to validate. Pooled staking lets users combine funds, enabling smaller holders to stake Ethereum and earn rewards together.
    3. Competitive reward rate: Through StakeWise, participants enjoy attractive staking rewards, appealing to both large investors and everyday enthusiasts.
    4. Unmatched security: Simply Staking operates Tier 3 data centers with 99.9% uptime, ensuring nodes stay secure and always online.
    5. Seamless ETH staking with direct wallet integration: Connect your crypto wallet directly to the dashboard – no extra logins or exchanges needed, reducing security risks and simplifying staking.

    Why stake Ethereum with Simply Staking?

    Staking needs reliable infrastructure and trusted partners. Simply Staking ensures strong performance across blockchains, backed by advanced data centers for secure Ethereum staking.

    Simply Staking supports Ethereum 2.0’s consensus, helping secure and decentralize the network. With deep experience in large-scale crypto operations, we built a resilient system to balance workloads efficiently. Users enjoy reliable, high-performance staking across Ethereum, Polkadot, Cosmos, and more.

    How the ETH staking dashboard works

    1. Visit the Platform: Navigate to the staking Dashboard on stake.simplystaking.com/eth to begin. The site is user-friendly, with key functions clearly accessible.
    2. Connect Your Wallet: The dashboard seamlessly integrates with your preferred crypto wallet, removing the need for third-party websites or bridge services. You stay in control of your private keys throughout the process.
    3. Select Your Amount of ETH you want to stake: Since the platform no longer requires 32 ETH, you’re free to stake ethereum with the amount of ETH that meets your goals – whether it’s a modest portion of your holdings or a larger investment.
    4. Confirm and Stake ETH: A few clicks finalize your participation. You start to earn rewards at a competitive reward rate almost immediately, with real-time updates available on staked balances and yields.
    5. Start earning rewards and participate in staking Ethereum

    This five-step process ensures simplicity for newcomers while offering experienced stakers strong security and clear metrics – all in one place. Easily track your ETH holdings and see exactly how much is staked at any time.

    Supporting Ethereum’s growth

    Ethereum staking strengthens the network by validating transactions, enhancing scalability, and supporting decentralization. As the second-largest blockchain, Ethereum powers countless decentralized applications, making it essential to the broader crypto ecosystem and ensuring its long-term security and resilience.

    Historically, staking was often dominated by large holders or centralized platforms. Simply Staking changes this with a user-friendly, decentralized model. It offers easy onboarding while preserving asset custody, supporting Ethereum’s vision of an open, accessible network driven by diverse, active participants.

    Start staking ETH today

    Experience the future of ETH staking with Simply Staking. By removing historical barriers, delivering an appealing token reward rate, and prioritizing security through Tier 3 infrastructure, the company reimagines stake opportunities in the digital asset world.

    This user-first design positions Simply Staking at the cutting edge of staking innovation, where trust and ease of use are paramount. Every aspect of the platform – from the polished interface to robust security protocols – reflects a commitment to providing the best possible staking environment. Crucially, participants are no longer compelled to need 32 ETH to contribute to the network’s evolution, aligning with Ethereum’s wider push for accessibility.

    Ultimately, the platform’s mission is to ensure that anyone who wants to stake can do so securely, transparently, and profitably. As the ethereum 2.0 upgrade continues, more opportunities will arise for validators, and Simply Staking aims to remain an industry leader in facilitating these possibilities. For media inquiries or further details, visit stake.simplystaking.com/eth or simplystaking.com.

    From veteran traders to newcomers, the platform stands as a testament to how thoughtful infrastructure and user-focused design can redefine digital asset engagement. Its proven reliability, commitment to decentralization, and active role in multiple blockchains make Simply Staking an ideal staking service provider for anyone looking to stake eth, expand their crypto portfolio, or simply explore the evolving potential of Ethereum’s consensus mechanism.

    About Simply Staking:

    Simply Staking is a globally recognized leader in blockchain infrastructure provision and development, dedicated to the advancement and security of decentralized technologies. Founded in 2013 it focused on Proof of Work and Proof of Stake technologies. Over the years, it became one of the key contributors within the blockchain ecosystem since the genesis validator role in the Cosmos Hub in 2019. Their services span across validating, node operations, blockchain development, infra-monitoring tool creation, and data infrastructure management, catering to a wide array of networks and ecosystems.

    Contact:
    Lewis Clifford,
    Head Of Marketing
    marketing@simplystaking.com

    Disclaimer: This press release is provided by Simply Staking. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the author mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fa9c99b7-e92f-465c-a167-995ee1528c4d

    The MIL Network –

  • MIL-OSI: Banking Virtual Investor Conference: Presentations Now Available for Online Viewing

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 07, 2025 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Banking Virtual Investor Conference, held March 6th are now available for online viewing.

    REGISTER NOW AT: https://bit.ly/4iv2XnM

    The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section.

    Select companies are accepting 1×1 management meeting requests through March 11th

    To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

    March 6th


    About Virtual Investor Conferences    ®

    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

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    The MIL Network –

  • MIL-OSI United Kingdom: Japan-UK Economic 2+2

    Source: United Kingdom – Government Statements

    News story

    Japan-UK Economic 2+2

    The UK and Japanese governments have met for the Economic 2+2 Ministers’ Meeting

    On March 7, from 6:30 p.m. to 8:30 p.m. for approximately 2 hours, the Japan-UK Economic 2+2 Ministers’ Meeting (“Economic 2+2”) was held. The meeting was attended by Mr. IWAYA Takeshi, Minister for Foreign Affairs of Japan, Mr. MUTO Yoji, Minister of Economy, Trade and Industry of Japan, the Rt. Hon. David Lammy MP, Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom of Great Britain and Northern Ireland, and the Rt. Hon. Jonathan Reynolds MP, Secretary of State for Business and Trade of the United Kingdom of Great Britain and Northern Ireland. The overview of the meeting is as follows.

    At the outset, Minister Iwaya stated that it was his pleasure to host the first Japan-UK Economic 2+2 Ministers’ Meeting in Tokyo, the establishment of which was announced by the leaders of Japan and the UK to promote dialogue on how trade and economic security converges with foreign policy; and hoped that today’s meeting would be an opportunity for both countries, as each other’s closest security partners in Europe and Asia, to strengthen their economic ties, building on the strong foundations of the Japan-UK Global Strategic Partnership articulated by the Hiroshima Accord.

    Minister Muto stated that he welcomed holding the Japan-UK Economic 2+2 Ministers’ Meeting and expressed his expectations for enhanced cooperation in areas such as economic security, energy, and innovation between Japan and the UK, which share fundamental values and continue to build a strong relationship.

    Foreign Secretary Lammy thanked Japan for hosting this inaugural meeting and underscored the importance of the dialogue in addressing the increasing convergence between economic and foreign policy issues and the significance of UK-Japan collaboration to forge a path in an increasingly volatile world.

    Minister Reynolds stated national security and economic growth are mutually reinforcing, and that he looked forward to using the discussion to explore areas of cooperation where the UK and Japan can jointly mitigate global risks to economic growth and trade.

    The global economic order now faces significant challenges. With shared fundamental values including freedom, democracy, and rule of law, the four Ministers from Japan and the UK committed to work to uphold these values by sustaining and strengthening a free, fair, and rules-based global economic order, and discussed issues on Economic Security, Free and Open International Trade, Energy Security, Global South as follows.

    Economic Security

    The four Ministers concurred that, given challenges in global trade, enhancing economic resilience internationally is an important contributor to sustainable and stable global growth.

    The four Ministers affirmed that coordination between partners and like-minded countries is essential to bolster economic resilience. Ministers also confirmed that the relationship between Japan and the UK is increasingly important and expressed their joint ambition to strengthen cooperation on economic resilience and economic security, including sharing analysis and insights, enhancing supply chain resilience and cooperation on critical and emerging technology issues.

    The four Ministers instructed officials to have meetings to take forward discussions to address the economic security challenges facing Japan and the UK, including enhancing supply-chain resilience, developing a fair market, and other relevant issues – with a view to enhancing their economic security partnership.

    The four Ministers concurred that this would support the industrial strategy partnership as discussed in the Strategic Economic Policy and Trade Dialogue.

     The four Ministers expressed concern over economic coercion, non-market policies and practices including harmful industrial subsidies, market-distorting practices of state-owned enterprises, as well as forced technology transfer, and harmful non-market overcapacity and other market distortions resulting from the non-market policies and practices.

     The four Ministers also reconfirmed the importance of cooperating with like-minded countries to build resilient and reliable supply-chains, including those for critical minerals that are essential for net-zero transition and digitalisation.

     In this regard, the four Ministers concurred to explore criteria that take into account not only economic factors, but also factors linked to the Principles on Resilient and Reliable Supply Chains, comprising of transparency, diversification, security, sustainability, and trustworthiness and reliability.

     Furthermore, the four Ministers concurred on continuing discussions to strengthen the coordination of their respective policies to further promote and protect critical and emerging technologies, recognising the importance of strategic public-private partnership, information exchange on economic security and the value of our two countries’ like-mindedness. The four Ministers concurred on deepening cooperation on export controls and research security to further facilitate the exchange of controlled goods and technologies between the two countries.

     The four Ministers welcomed the signing of Memorandums of Understanding between Japanese and UK industry partners that will facilitate joint Japan-UK supply chains and collaboration in the development of next-generation quantum computing.

     The four Ministers concurred on further strengthening effective export controls on materials, technology, and research that could be used for military purposes in a way that keeps pace with rapid technological developments.

     The four Ministers expressed their desire to see a just and lasting peace in Ukraine which ensures its future sovereignty and security. The four Minister reaffirmed their continued support to Ukraine in pursuit of peace through strength, in line with Ukraine’s needs. The four Ministers expressed their resolve to continue our comprehensive sanctions and economic measures to restrict as far as possible the revenues, goods, and technology Russia uses to fund and conduct its illegal war of aggression against Ukraine.

     To that end, the four Ministers concurred to continue action against Russia and countries supporting the Russian military complex through technical discussions to prevent diversion of key critical, specialist and emerging technologies. They reiterated their concern for China’s increasing support to Russia and Russia’s defense industrial base, which is decisively enabling Russia to maintain its illegal war in Ukraine.

    Free and Open International Trade

     The four Ministers reaffirmed the importance of the rules-based multilateral trading system with the WTO at its core as an important structure that affords legal stability and predictability for businesses, and concurred on moving towards strengthening all of the WTO’s functions, including negotiation, monitoring, deliberation and dispute settlement, as it marks the 30th anniversary of its establishment with an eye to the outcome of the 14th WTO Ministerial Conference (MC14) scheduled for next March.

     The four Ministers recognised the role played by plurilateral discussions and negotiations within the WTO in advancing issues of interest and called for the early incorporation of the Investment Facilitation for Development Agreement and the Agreement on Electronic Commerce into the WTO’s legal framework.

     The four Ministers also confirmed that they will work closely together in WTO discussions, including addressing contemporary trade-related issues such as non-market policies and practices, as well as climate change.

     The four Ministers emphasised the importance of developing robust international rules and norms and effectively utilising existing tools to ensure a global level playing field.

     In addition, the Japanese Ministers welcomed the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) last December, and the four Ministers recognised that the CPTPP is an important pillar in promoting a free and fair rules-based economic order in the Indo-Pacific region.

     The Ministers confirmed that they would continue to work closely together with other parties to ensure CPTPP remains a modern, high-standards agreement.

    Energy Security

     The four Ministers discussed energy security risks and opportunities for Japan-UK collaboration to support further development of clean energy supply-chains.

     Ministers welcomed the signing of the Memoranda of Cooperation on offshore wind cooperation among governments, organisations, companies and on cooperation in advanced robotics and autonomous systems, and welcomed the  civil-nuclear collaboration between companies and research institutions of both countries, including on advanced nuclear technologies, fusion energy, and  nuclear decommissioning.

     They reaffirmed that they would continue promoting energy cooperation between Japan and the UK to deliver energy security for their citizens.

     Furthermore, they acknowledged their collaboration in the clean energy sector and emphasised the importance of creating Japan-UK collaborative projects to accelerate the clean energy transition in third countries and to strengthen coordination in pursuit of this.  

     The four Ministers also reaffirmed their shared commitment to keeping a limit of 1.5C temperature rise within reach and achieving net zero by 2050.

     They confirmed the need to reduce reliance on energy supply from unreliable and hostile actors.

     All four Ministers concurred that Russia’s illegal, unjustifiable and unprovoked full-scale invasion of Ukraine threatens the security of the Euro-Atlantic and Indo-Pacific, which is inseparable.

    Engagement with Global South

     The four Ministers shared the recognition that it is important to further enhance cooperation with Global South countries to maintain and strengthen a rule-based international economic order and affirmed that they would engage with the Global South towards sustainable development and trade mechanisms that support economic development and poverty reduction.

     They noted the importance of the WTO 14th Ministerial Conference, which will be held in Cameroon – in supporting this.

    The four Ministers reaffirmed the need for Japan and the UK to remain advocates of a free, open, and rules-based international economic order in the face of growing risks of global economic fragmentation and concurred on continuing their bilateral cooperation in areas such as the economic policies of both countries and economic security, while deepening discussions and cooperation with like-minded countries in related fields.

    Updates to this page

    Published 7 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Security: Lancaster County Man and Long-Distance Trucking Company Sentenced for Violations of Clean Air Act

    Source: Office of United States Attorneys

    HARRISBURG – The United States Attorney’s Office for the Middle District of Pennsylvania announced that Leon Martin, age 42, of Lititz, PA, and Frock Brothers Trucking, Inc. (Frock Brothers), of New Oxford, PA, were sentenced by U.S. District Court Judge Julia K. Munley for conspiracy and violations of the Clean Air Act. 

    Martin was sentenced to a two-year term of probation, with three months of a home curfew, and a $500,000 fine. Frock Brothers Trucking, Inc. was sentenced to a two-year term of probation and an $80,000 fine.

    According to Acting United States Attorney John C. Gurganus, Martin was a mechanic who worked at a diesel repair shop, in Ephrata, PA.  Between 2018 through October 2023, Martin provided “tuning” or “reprogramming” services in which he tuned the engine control modules (ECMs) on diesel trucks. The ECM is a computerized system that manages and controls the engine’s performance.  During that time, Martin began tampering with the emissions diagnostic systems on the vehicles of many companies to prevent the diagnostic system software from monitoring the emission control system hardware, thereby defeating the systems’ ability to reduce pollutant gases and particulate matter being emitted to the atmosphere by the trucks. 

    In November and December 2018, Martin did work for Frock Brothers Trucking, Inc., a long-distance trucking company that delivers general freight and other products.  At that time, Martin, Frock Brothers, and others, conspired to tamper with the emission control hardware on approximately eight diesel vehicles of Frock Brothers, in violation of the Clean Air Act.  The illegal actions were for the purpose of obtaining economic benefits, including, among other things, reduced or avoidance of repair costs, fuel savings from improved fuel economy on modified vehicles, and reduced expenditures on diesel exhaust fluids required to operate emissions systems components.  As part of the scheme, Frock Brothers removed the vehicles’ ECMs from their engines and shipped them to Leon Martin for reprogramming. Once the devices were “tuned,” Martin shipped them back to Frock Brothers, where they were reinstalled on the trucks. As a result of the emissions systems tampering, Frock Brothers vehicles emitted excess emissions, including nitrogen oxides and particulate matter, into the atmosphere. 

    “Tampering with required emissions monitoring devices in heavy duty vehicles results in a significant increase in air pollution,” said Allison Landsman, EPA-CID Special Agent in Charge. “Today’s sentencing demonstrates that we will hold violators accountable for breaking our environmental laws.” 

    The case was investigated by the Environmental Protection Agency’s Criminal Investigations Division. Assistant U.S. Attorney William Behe prosecuted the case.

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    MIL Security OSI –

  • MIL-OSI Security: Eastern NC Man Sentenced to Over Four Years for Role in $1 Million Covid Fraud Scheme

    Source: Office of United States Attorneys

    NEW BERN, N.C. – A Snow Hill man was sentenced to 50 months in prison for Conspiracy to Commit Wire Fraud related to Covid-19 loans.  In March of 2024, TYREEK RASHEED EXUM, 26, was charged in a multi-count indictment alleging various offenses related to a Covid fraud scheme.  On September 24, 2024, Exum pled guilty to Conspiracy to Commit Wire Fraud.  Co-defendant Anthony Wandland, Jr., of Chicago, Illinois, pled guilty to the same charge on November 13, 2024.

    Exum and Wandland conspired to use over 20 stolen identities and the identities of co-conspirators to apply for Economic Injury Disaster Loans (EIDL) and Pandemic Unemployment Assistance benefits. The indictment charged that Wandland provided Exum with the stolen identities, and, in exchange, Exum gave Wandland a percentage of the proceeds. Each loan application submitted by Exum contained false statements, misrepresentations, and omissions related to income, employment, and claimed business entities. Exum signed various financial documents, including loan and security agreements, in the names of those stolen identities and then had the loan proceeds deposited into his personal bank account, nominee bank accounts, bank accounts of family and friends, and into accounts in the names of stolen identities. Exum exercised control over these accounts by obtaining bank debit cards and by causing nominees to transfer the fraud proceeds to other accounts controlled by him via various digital mediums such as PayPal and CashApp. Exum also withdrew the cash at multiple ATMs. In total, the indictment alleged Exum received nearly $1 million in fraudulent loan proceeds.  The Court ordered Exuma to pay more than $620,000 in restitution.

    Daniel P. Bubar, Acting U.S. Attorney for the Eastern District of North Carolina made the announcement after sentencing by U.S. District Judge Louise W. Flanagan. IRS Criminal Investigation investigated the case and Special Assistant U.S. Attorney Lisa Labresh prosecuted the case.

    Related court documents and information can be found on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case Nos. 5:21CR178-M and 5:23CR388-M.

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    MIL Security OSI –