NewzIntel.com

Category: Finance

  • MIL-Evening Report: After 3 years of war, Ukrainian business leaders share their lessons on survival

    Source: The Conversation (Au and NZ) – By Amy L. Kenworthy, Professor of Management, Bond University

    Drop of Light/Shutterstock

    It’s exactly three years since Russia began its full-scale invasion of Ukraine.

    During that time, Ukrainians have lived through one of the world’s largest and most brutal humanitarian crises. Yet their resilience remains high.

    The United Nations estimates that 64% of micro, small and medium enterprises had to either suspend or close their operations in Ukraine at some stage after the war began.

    But the vast majority of these have since opened back up.

    Over the past year, our international team of researchers from both Australia and Ukraine sought to find out what might drive such extraordinary resilience. The answer, according to Ukrainian business leaders, is their people.

    Running a business in a war

    Ukrainians are currently living through their third winter of this war. Some of Russia’s latest attacks have targeted the gas infrastructure and other energy facilities crucial for keeping people alive.

    These daily attacks have made previously safe cities no longer safe, leaving residents without water, heat and electricity in bitterly cold conditions.

    According to the UNHCR’s 2025 Global Appeal, Russia’s targeting of homes, hospitals and communities has resulted in civilian deaths, mass displacements, restricted access to humanitarian aid, and severely disrupted essential services.

    For businesses, the war has impacted virtually every aspect of commercial activity. Beyond the immediate threat of coming under direct attack, firms have had to deal with everything from disrupted supply chains through to frequent power outages.

    As one interviewee put it:

    Many of us are afraid our main businesses may go bankrupt. We are constantly facing periods with no electricity which stops businesses and cuts us off from the world. We live with constant air raid alarms, moving in and out of underground shelters. We have a significant shortage of personnel because so many have gone to fight on the front lines or left the country.

    The UN estimates that utilisation of production capacity for Ukraine’s micro, small and medium enterprises dropped from 72.4% before the war to 45.7% in 2023.

    To make matters worse, with millions of people having fled Ukraine, finding and retaining qualified personnel has become extremely difficult.

    Women have been stepping into historically male dominated professions such as mining, truck driving and welding to fill the gap left by men who’ve joined the fight. But there is still a significant labour shortage.

    A diverse range of sectors have continued to operate in Ukraine since the war began, despite labour shortages and other issues.
    Oleksandr Filatov/Shutterstock

    Over the past year, our international team of researchers from both Australia and Ukraine surveyed business leaders from 85 different small and medium-sized businesses across 19 different industries in Ukraine.

    These spanned engineering, transportation, aviation and mining through to agriculture, tourism, IT, healthcare, entertainment and finance.

    We asked which resources were – and still are – key to the survival of their organisations.

    Finance and access to funding came in at number two, followed by production and energy, new customers & markets, equipment technology & information and policy & regulations.

    The most important resource

    The most important resource, highlighted by 82% of the business leaders we surveyed, was their people.

    When operating within an environment of severe crisis and disruption, the pressure can be enormous. But the Ukrainian executives we interviewed figured out a way to unite and lead their teams into the future.

    As one reflected:

    When team members are motivated, they are more likely to be optimistic and resilient when facing difficulties. Motivated employees are more productive than demotivated ones. This is important when people need to accomplish more with fewer resources.

    Forcing positive adaptation

    For many organisations in our research, operating within a crisis had pushed them to implement valuable human resource practices other businesses often struggle with.

    Some had transitioned to a “flatter” organisational structure, speeding up decision making by giving employees more autonomy. Others invested in team training which focused on empowering employees to share their thoughts on how to best move forward.

    Our processes and planning horizons have changed completely. We’ve had to become more agile and flexible in our approach to leadership, often reducing planning cycles and adapting to new realities much faster than before.

    A focus on wellbeing was another common theme. Some organisations hosted more meetings to allow their employees to share stories – not only about work but also about their personal fears and victories.

    Some also encouraged their employees to complete volunteer work together during work hours.

    There was an emphasis across interviews on the fact all employees need additional rest and recovery time, and encouraging them to take time off whenever needed.

    Making sacrifices

    Many of the new support mechanisms had financial consequences for the organisations.

    One business cancelled the salaries of its top management team one month after the war started. Another hired a full-time psychologist to provide counselling in both formal and informal sessions.

    Some continued to pay the salaries of their serving members:

    All our mobilized employees who are serving in the military have been receiving their salaries for the past three years. We also ensure they are equipped with everything they need, stay in constant contact with them, and support their families.

    Knowing their business was supporting the war effort had a positive impact on employee motivation:

    The only difference in employee motivation is the understanding that our company actively supports the Armed Forces of Ukraine. Thus, every employee in the company understands that through their work, they are involved in this support.

    In the end, it is the connections between people these leaders saw as the key to their organisational resilience.

    No matter how hard things get, how much grief and suffering we endure, we know for certain that tomorrow the sun will rise. And even if it’s not for us, it will be for our children. This is what gives us the strength to continue living, creating, and preserving Ukraine — for us and for future generations.

    The authors would like to acknowledge their academic partners and coauthors from the Ukrainian Catholic University in Lviv, Ukraine, Yaryna Boychuk, Valeria Kozlova, Sophia Opatska, and Olena Trevoho, and thank all the Ukrainian business leaders who participated in this research.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. After 3 years of war, Ukrainian business leaders share their lessons on survival – https://theconversation.com/after-3-years-of-war-ukrainian-business-leaders-share-their-lessons-on-survival-249145

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: IT security incident probed

    Source: Hong Kong Information Services

    Invest Hong Kong (InvestHK) announced that an information security incident, involving a malicious ransomware attack to part of its computer systems, was identified yesterday.

    In a press release, InvestHK condemned such malicious attacks, and said it has already updated relevant access rights, isolated the affected systems, and activated back-up procedures.

    Preliminary findings indicated that the affected areas included an internal customer relationship management system, InvestHK’s intranet and part of its website operation.

    InvestHK pointed out that upon identification of the incident, it tightened its cyber security systems to prevent further ransomware attacks. It also reported the case to Police, the Digital Policy Office, the Office of the Privacy Commissioner for Personal Data and the Security Bureau on the same day.

    An investigation is underway to ascertain whether personal data leakage is involved. InvestHK said it will inform relevant parties when further updates are available. It is also seeking advice from the Digital Policy Office and has appointed experts to assist with the investigation and recovery.

    Meanwhile, InvestHK’s public services remain normal. The public can continue to contact the department by telephone, email or face-to-face meetings.

    Apart from expressing hope that the culprits can be brought to justice as soon as possible, the department reiterated that it would not send embedded hyperlinks via emails, SMS messages or social media pages for collecting personal information or requesting for payment.

    For enquiries, call 3107 1000 or write to enq@investhk.gov.hk.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Governors Approve Federal Priorities at Winter Meeting

    Source: US State of Colorado

    WASHINGTON, DC – At the 2025 Winter Meeting of the National Governors Association (NGA), Governors approved federal priorities to advocate to the 119th Congress and the administration. The priorities were developed by three bipartisan, Governor-led task forces who meet regularly to discuss issues and policies that impact states, territories and commonwealths. The federal priorities are backed by a resolution that was unanimously voted on at today’s business session to serve as a roadmap for NGA’s advocacy efforts at the federal level. 

    “As Governors, we are always looking for new ideas that can help us deliver better results,” said NGA Chair Colorado Governor Jared Polis. “State input is key to avoid abrupt changes that create uncertainty and adversely impact the countless services we run to support infrastructure, education, health care, economic growth and disaster response in our states. Governors are ready and willing to work together, and with the administration and Congress, to evaluate and improve the efficiency of these services. We are open to bipartisan conversations with anyone from state and local governments, fellow governors, Congress, and the federal government.” 

    “Governors of both parties share common purpose when it comes to making our economy, infrastructure, and education and health systems the best they can be,” said NGA Vice Chair Oklahoma Governor Kevin Stitt. “I appreciate the opportunity to talk with fellow Governors to discuss how states and territories can work with the White House and Congress to reduce debt and grow the economy. Governors balance our budgets, and we are the ones building roads and implementing education reforms. The perspective of Governors is critical to ensure states and territories work effectively with the federal government to achieve the best possible outcomes for Americans.” 

    The full resolution text adopted by Governors for 2025: 

    Governors believe federal action should be limited to the powers expressly conveyed by the Constitution, preserving state sovereignty in legislative and regulatory matters the Executive Committee has added the following bipartisan priorities: 

    • Enhancing emergency management; 
    • Streamlining permitting processes; 
    • Supporting flexibility and waiver opportunities and funding for state and territorial designed Medicaid, SNAP, and TANF; 
    • Ensuring the federal government meets its already committed obligations for federally funded projects across states, territories and Commonwealths. 

    The task forces have developed the following list of federal priorities to advance the mission of the Association: 

    Task Force on Economic Development and Revitalization 

    • Accelerating infrastructure project delivery and streamlining permitting, while establishing Governors priorities for the next surface transportation reauthorization; 
    • Advancing technology innovation and securing energy resilience to strengthen the country’s economy and national security; 
    • Working with Congress on the most impactful programs for states and territories contained in the Infrastructure Investment and Jobs Act (IIJA), and the CHIPS and Science Act; 
    • Investing in state and territorial efforts to protect water resources and clean water. Ensuring Governors have a voice as Congress considers tax reform and international trade agreements. 

    Task Force on Public Health and Disaster Response 

    • Ensure Governors are consulted, and their gubernatorial authorities are maintained, in the areas of defense, homeland security, emergency management, health, and human services, including those outlined in U.S.C. Title 10 and 32 pertaining to National Guard readiness and structure; 
    • Advocate for flexibility and support for a robust health and human service system including safety net programs, such as Medicaid and SNAP, and oppose shifting essential federal funding obligations to states and territories without adequate planning; 
    • Ensure the National Guard is equipped with sufficient resources and capabilities to fully recruit and man a force ready to support domestic emergencies and fulfill its role as the operational reserve for national security missions; 
    • Enhance emergency response and disaster recovery by ensuring federal programs, such as Disaster Relief Fund, National Flood Insurance, and Community Development Block Grant Disaster Recovery, are sufficient, adaptable, and streamlined to meet the diverse needs of states and territories, and easier to navigate for individuals, businesses, and all levels of governments; 
    • Strengthen preparedness efforts by fostering both inter-state and federal-state collaborations to maintain resilient supply chains and stockpiles for critical infrastructure before, during, and after emergencies; Support federal initiatives that provide tools and flexibility to states and territories to ensure safe communities for all Americans in areas such as malicious unmanned aircraft systems, cyberattacks, border security, trafficking, substance use disorder, justice-involved re-integration, crisis response systems, and comprehensive safety measures. 

    Task Force on Education, Workforce and Community Investment 

    • Supporting reauthorization of the Farm Bill; 
    • Supporting efforts to expand innovative educational experiences, apprenticeship opportunities and non-degree pathways including but not limited to the reauthorization of WIOA; 
    • Working with the House and Senate bipartisan Paid Leave Working Groups as they consider a legislative framework around paid family leave; 
    • Supporting continued investment in federal education programs that address workforce needs and efforts to improve state longitudinal data systems; 
    • Increasing supply of housing by strengthening the Low-Income Housing Tax Credit (LIHTC) and giving states and territories the tools necessary to streamline burdensome zoning, permitting, and land use policies. 

    ###

    MIL OSI USA News –

  • MIL-OSI Global: Trump’s tariff and land grab threats signal U.S. expansionist ambitions

    Source: The Conversation – Canada – By Ilan Kapoor, Professor, Critical Development Studies, York University, Canada

    When U.S. President Donald Trump first suggested Canada should become the 51st American state, the federal government dismissed it as just a joke. Finance Minister Dominic Leblanc insisted it was “in no way a serious comment.”

    Similar skepticism was expressed by political leaders across the world when Trump talked about seizing Greenland and the Panama Canal in early January, by military force if necessary, to buttress U.S. national security. He also floated the idea of taking over Gaza to transform it into the “Riviera of the Middle East.”

    Now that Trump has carried through on his aggressive economic threats — launching a trade war with China and raising the possibility of similar conflicts with Canada, Mexico and the European Union — his imperialist expansionism is in plain sight.

    Canadian leaders have come to realize that Trump’s actions may not be a temporary or minor irritant, but rather an attack on Canadian sovereignty itself.

    The failure to take Trump’s words seriously is reminiscent of British Prime Minister Neville Chamberlain’s skepticism in 1938 that Hitler would actually risk world war despite the latter’s aggressive rhetoric, annexation of Austria and threats to Czechoslovakia and Poland.

    What, then, have been the signs of Trump’s expansionist tendencies? American economic and military might, albeit declining relative to emerging powers like China and India, still provides a solid basis for the projection of U.S. supremacy. But there are also two new key elements at play.

    A billionaire-corporate administration

    The Trump administration appears to operate with a distinctly corporate mindset, treating the nation like a business empire. Trump has stacked his administration with private sector leaders and corporate billionaires such as Elon Musk, Doug Burgum and Howard Lutnick.

    Like other billionaires, their immense business success has been founded not on mainstay competitive market practices like productivity or cost-cutting, but on predatory and cannibalistic ones.

    These include controlling resources like oil, gold, diamonds and coltan to secure production inputs; buying out competitors to monopolize markets and patents; and deliberately breaking up and destroying companies through mergers and acquisitions with little regard for the resulting job losses.

    It is within this framework that Trump’s allegations about buying Greenland and Gaza, annexing Canada through “economic force” and capturing the Panama Canal need to be seen.



    Read more:
    Billionaires and loyalists will provide Trump with muscle during his second term

    Under the guise of national security, the idea is not simply to safeguard borders, but to engage in economic expansionism and real estate development, aided by the U.S. military when needed. Taking control of land, waterways and mineral wealth is critical to building “America’s Golden Age” of corporate capitalism.

    This approach seems to be a mainly business one, with little concern for the social costs (recession, unemployment, violence) produced by such imperialistic ventures. In line with his infamous book, The Art of the Deal, Trump appears to view foreign nations and domestic opponents alike as obstacles to be callously bullied, degraded, manipulated, exploited and finally vanquished.

    American nationalist populism

    The Trump administration’s imperial ambitions lie in the nationalist populism that propelled Trump and his allies into power for the second time.

    Trump’s populism has successfully tapped into widespread anxieties among Americans — job insecurity, food prices, the housing crisis — by promising to soothe their worries through the “Make America Great Again” (MAGA) agenda.



    Read more:
    Trump’s view of the world is becoming clear: America’s allies come second to its own interests

    Like other right-wing populist movements around the globe — Recep Tayyip Erdoğan’s in Turkey, Viktor Orbán’s in Hungary and the Brexit campaign in the U.K. — the MAGA movement has sought to unify the U.S. by identifying and targeting perceived national enemies. These include so-called “illegal” migrants, transgender people and the country’s largest trading rivals: Mexico, Canada and China.

    By blaming these groups, especially those seen as contributing to America’s economic decline, MAGA whips up nationalist sentiment in the form of suspicion, aggression and vengeance. The result is a deeply polarized nationalist discourse in which one is either a loyal supporter or an enemy; a believer or a “woke” liberal.

    A lethal imperial set-up

    The combination of U.S. global power, nationalist populism and the Trump administration’s corporate-driven, predatory approach makes for a dangerous dynamic.

    This mix is fuelling a form of economic expansionism that is now beginning to manifest itself. The impending trade wars, potential dismantling of the U.S.-Mexico-Canada Trade Agreement (which Trump initiated in 2018 to avoid unilateral trade moves by its signatories) and the brazen disregard for the socioeconomic consequences of foreign territorial control, such as the forced displacement of Palestinians, are all signs of this.

    While many assumed Trump’s administration would be protectionist and isolationist, a more troubling and nefarious reality is emerging. His administration appears to be intent on securing America’s industrial dominance through trade wars while expanding it through hawkish economic imperialism.

    There is a clear ruthlessness to this approach, with a willingness to pressure not only America’s perceived enemies but also its allies. “America First” is starting to looks like “America Above All Others” as Trump attempts to bully U.S. rivals into subordination, with disturbing echoes of past authoritarians.

    Unravelling American imperial designs

    Many obstacles could prevent Trump’s aggressive expansionism from fully taking shape. While the key ingredients may already be there, and some have begun to be deployed, that doesn’t mean they will come to fruition.

    The Trump administration’s policymaking process is often chaotic and theatrical, prioritizing short-term political gains over long-term strategy. This instability undermines any consistent efforts at expansion.

    There is also the risk that Trump’s trade wars will backfire. They could end up causing hardship to U.S. companies and consumers through higher food and energy prices, job losses in key industries like agriculture and auto manufacturing, and increased stock market instability. Such consequences could negatively affect Trump’s corporate allies.

    Meanwhile, Trump’s economic and military rivals could forge new alliances to challenge his attempts at global supremacy. Prime Minister Justin Trudeau, for instance, recently met with the head of NATO and other European allies to strengthen trade and security ties.

    The first step to any countermoves by Trump’s foreign adversaries will be seeing his regime’s designs for what they are: chaotic, perhaps, but serious expansionist ones.

    Ilan Kapoor 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. Trump’s tariff and land grab threats signal U.S. expansionist ambitions – https://theconversation.com/trumps-tariff-and-land-grab-threats-signal-u-s-expansionist-ambitions-249924

    MIL OSI – Global Reports –

  • MIL-OSI Security: Former Army Reservist Sentenced for Conspiracy to Steal Government Funds

    Source: Office of United States Attorneys

    NEW ORLEANS – CODY FRANCIS (“FRANCIS”), age 34, of New Orleans, was sentenced on February 13, 2025, by Chief United States District Judge Nannette Jolivette Brown.  FRANCIS previously pled guilty to conspiracy to commit theft of government funds, having stolen $11,378.27 from the United States Department of the Army by claiming reimbursement for the performance of military funeral honors ceremonies that never happened.

    The National Defense Authorization Act of 2000 authorizes military funeral honors for active-duty soldiers, retirees, and veterans.  At a family’s request, eligible persons can receive military funeral honors, including the folding and presenting of the United States flag and the playing of “Taps.”

    Chief Judge Brown sentenced FRANCIS to one year probation, 100 hours of unpaid community service, the payment of $11,378.27 in restitution to the Department of the Army, and a $100 mandatory special assessment fee.

    Acting U.S. Attorney Simpson praised the work of the United States Army Criminal Investigation Command.  Assistant United States Attorney Andre J. Lagarde of the Public Integrity Unit is in charge of the prosecution.                                                     

    MIL Security OSI –

  • MIL-OSI China: Summit on women global investment kicks off in Libyan capital

    Source: China State Council Information Office

    The Women Global Investment Summit kicked off here on Saturday with more than 60 entrepreneurs and economic experts from 15 countries.

    Libya’s Minister of State for Women’s Affairs Houria Al-Tarmal told Xinhua that the Government of National Unity — the internationally-recognized western-based government — “supports and enables women economically and logistically.”

    “Women are essential partners in the national economy,” said Al-Tarmal, hoping the summit will help businesswomen in Libya overcome challenges by exchanging experience with other women entrepreneurs and experts worldwide.

    The two-day event includes workshops and training sessions to economically empower women and increase their participation in the national economy, as well as the signing of cooperation agreements and protocols between local and international agencies to support Libya’s national development.

    Since the fall of the late leader Muammar Gaddafi’s regime in 2011, Libya has been struggling with fragmentation. The country is now divided between two main rival administrations: the eastern-based government, backed by the House of Representatives, and the western-based government in Tripoli. 

    MIL OSI China News –

  • MIL-OSI Australia: Meeting with Secretary of the Treasury of the United States

    Source: Australian Treasurer

    Tonight, I will fly to Washington, D.C. Once there, I plan to meet with the U.S. Secretary of the Treasury Scott Bessent.

    Our established relationship predates this meeting, but this will be our first discussion since confirmation in his new role.

    We will meet at an important time for the global economic outlook.

    The United States – Australian economic partnership brings significant benefits to both sides. From capital markets to critical minerals and trade, there is much to discuss.

    Before flying back to Australia on Tuesday afternoon, I will also address the Australian Superannuation Investment Summit being convened by U.S. Ambassador Kevin Rudd.

    This Summit will bring together some of Australia’s largest super funds with leading figures from the U.S. investment community at the Australian Embassy in Washington.

    MIL OSI News –

  • MIL-OSI Security: Honduran Guilty of Illegally Using Social Security Number to Obtain Employment

    Source: Office of United States Attorneys

    NEW ORLEANS, LOUISIANA – Acting United States Attorney Michael M. Simpson announced that CESAR ALVAREZ-ESPINAL (“ALVAREZ-ESPINAL”), a native of Honduras, pleaded guilty on February 20, 2025 to illegally using a social security number to qualify for employment, in violation of Title 42, United States Code, Section 408(a)(7)(B).

    ALVAREZ-ESPINAL faces a maximum term of imprisonment of five (5) years, up to three (3) years of supervised release, a fine of up to $250,000.00, and a mandatory special assessment fee of $100.00.  

    According to court documents, in November 2024, Homeland Security Investigations received information that certain individuals had used fraudulent Social Security cards in an initial application to obtain employment.  Prior to finalizing employment with their prospective company, the individuals were required to report to the Gulf Coast Safety Council.  The Gulf Coast Safety Council provides safety courses to applicants applying for work with companies that service petrochemical processing plants.  On November 13, 2024, ALVAREZ-ESPINAL arrived at the Gulf Coast Safety Council office in St. Rose, Louisiana to complete the safety course.  On that day, ALVAREZ-ESPINAL presented a fraudulent United States Social Security card bearing the name and United States Social Security number of a United States citizen, that he represented to be his own in order to obtain employment.

    Acting U.S. Attorney Simpson praised the work of Homeland Security Investigations in investigating this matter.  Assistant United States Attorney Jon M. Maestri of the General Crimes Unit is in charge of the prosecution.

    MIL Security OSI –

  • MIL-OSI New Zealand: Going for Growth: Overseas investment changes to drive higher wages

    Source: New Zealand Government

    Associate Finance Minister David Seymour has today announced the Government’s plan to reform the Overseas Investment Act and make it easier for New Zealand businesses to receive new investment, grow and pay higher wages. 

    “New Zealand is one of the hardest countries in the developed world for overseas people to invest in businesses, and our productivity growth is woeful. Those two facts are closely linked. 

    “We are introducing reforms to improve New Zealand’s overseas investment laws. The package will speed up decisions and provide more confidence to investors, while protecting our national interests. 

    “Overseas investment can support economic growth because when workers work with better tools and technologies, they are more productive and get paid more. 

    “I’ve seen the difference that overseas investment can make. I once visited two businesses in the same industry on the same afternoon. Both had skilled and passionate people with good ideas. One had overseas investment, though, and benefited in two ways. They had more money for machinery, and they had more know-how for manufacturing and marketing their product by receiving knowledge from their partners offshore. 

    “New Zealand’s productivity growth has closely tracked the amount of capital workers have had to work with. Our capital-to-labour ratio has seen very little growth in the last 10 years, averaging approximately 0.7 per cent annually. That’s compared to growth of around 2 percent a year in the previous 10 to 15 years. Unsurprisingly, productivity growth averaged 1.4 percent a year between 1993 and 2013, but only 0.2 percent between 2013 and 2023. 

    “The Government has agreed on a reform package which includes: 

    • better acknowledging the benefits investment can provide to New Zealand’s economy, 
    • for all investments aside from residential land, farmland and fishing quota, making decisions in just 15 days, unless the application could be contrary to New Zealand’s national interest, 
    • strengthening the Government’s ability to intervene on the rare occasion that a transaction is not in the national interest, 
    • giving LINZ more powers to grant consent without involving Ministers. 

    “High-value investments, such as significant business assets, existing forestry and non-farmland, account for around $14 billion of gross investment each year. Cabinet has agreed to remove the barriers for these investments, while retaining existing protections for residential land, farmland and fishing quota. 

    “Nearly every other developed country has less obstructive laws than New Zealand. They benefit from the flow of money and the ideas that come with overseas investment. If we are going to raise wages, we can’t afford to ignore the simple fact that our competitors gain money and know-how from outside their borders.” 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: BusinessNZ Statement – Overseas investment overhaul: NZ means business

    Source: BusinessNZ

    BusinessNZ says the Government’s announcement to reform the Overseas Investment Act sends a positive signal to the world that New Zealand is ready to do business. 
    Chief Executive Katherine Rich says existing rules make it difficult and uncertain for overseas investors to consider investing here. 
    “New Zealand’s settings for overseas investment have been some of the most restrictive in the OECD. These rules have held us back from achieving our potential as we say no to investment which has been accepted by other economies. 
    “As one example, any non-urban land parcel larger than five hectares is deemed sensitive in the current Act. For the likes of a manufacturer looking to set up shop and invest here, anything less is far too small. 
    “BusinessNZ has long advocated for new policy settings which could allow us to gain the benefits of overseas capital and grow businesses, assets, and the incomes of New Zealanders. We know that business will be heartened by today’s announcement. 
    “Changing settings will be a positive first step in showing the rest of the world that we welcome investment – but more changes are required to encourage it. 
    “Settings related to taxation of overseas earnings and incentives for research and development need to be more internationally competitive. Otherwise, investors will choose to put their money and talent where they see a better return.”
    The BusinessNZ Network including BusinessNZ, EMA, Business Central, Business Canterbury and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.

    MIL OSI New Zealand News –

  • MIL-OSI Security: New Orleans Man Guilty of Machinegun Possession

    Source: Office of United States Attorneys

    NEW ORLEANS, LOUISIANA – LADONTE RICHARDSON (“RICHARDSON”), age 22, a resident of New Orleans, pled guilty on February 13, 2025, to possession of  a machinegun, announced Acting U. S. Attorney Michael M. Simpson.

    RICHARDSON faces a maximum term of 10 years of imprisonment, and/or a fine up to $250,000, up to 3 years of supervised release, and $100 mandatory special assessment fee.

    According to court records, on August 29, 2023, RICHARDSON posted a photo on his Instagram page with three train emojis, along with an emoji of a cellphone.  Investigators believed this to be an advertisement for selling Tapentadol pills, which are commonly referred to as “trains.”  On September 7, 2023, RICHARDSON posted another advertisement for drugs.  Based upon these posts, on September 8, 2023, a Federal Bureau Investigation (“FBI”) Task Force Officer (“TFO”) obtained  a search warrant for RICHARDSON’s Instagram account that showed RICHARDSON possessing firearms.  Specifically, on September 17, 2023, RICHARDSON live streamed himself on a video brandishing a firearm with a laser sight.  On September 21, 2023, an arrest warrant was issued for RICHARDSON for two counts of second-degree murder that occurred on December 7, 2022.  U.S. Marshals located and arrested RICHARSON in New Orleans.  A search of his residence revealed the same firearm brandished by RICHARDSON on his Instagram page, in a bedroom dresser.  The firearm was equipped with a switch.  The firearm was also stolen. 

    RICHARDSON admits possessing and knowing it was a machine gun.

    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 the Federal Bureau of Investigation and the New Orleans Police Department.  The case is being prosecuted by Assistant U. S. Attorney Mike Trummel of the Violent Crime Unit.

    MIL Security OSI –

  • MIL-OSI Security: Kenner Man Enters Guilty of Possession of Child Sexual Abuse Material

    Source: Office of United States Attorneys

    NEW ORLEANS, LOUISIANA – NOAH TORRES (“TORRES”), age 47, of Kenner, pled guilty on February 20, 2025, to Possession of Materials Involving the Sexual Abuse of Minors, in violation of Title 18, United States Code, Sections 2252(a)(4)(B), announced Acting U.S. Attorney Michael M. Simpson.

    TORRES faces a maximum sentence of twenty (20) years imprisonment, and/or a fine of up to $250,000.00, a term of supervised release of no less than five (5) years and up to life, after  release from prison, and a mandatory $100 special assessment fee.

    According to court documents, on Monday, July 24, 2023, TORRES was arrested at his Kenner residence by Special Agents with the U.S. Department of Homeland Security, Homeland Security Investigations, after the execution of a federal search warrant. TORRES admitted to possessing 219 images and 340 videos depicting prepubescent minors engaging in sexually explicit conduct.

    Sentencing in this matter is scheduled for May 22, 2025, before United States District Judge Eldon E. Fallon.

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

    Acting U.S. Attorney Simpson praised the work of the U.S. Department of Homeland Security, Homeland Security Investigations, including the Portland, Oregon and New Orleans, Louisiana offices; the Kenner Police Department; and the Louisiana Bureau of Investigation.  The prosecution of this case is being handled by Assistant U.S. Attorney Brian M. Klebba, Project Safe Childhood Coordinator and Chief of Financial Crimes Unit.

    MIL Security OSI –

  • MIL-OSI Australia: Arrests – Property offences – Palmerston

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force has arrested three male youths in relation to a number of property offences last night.

    About 1:30am, police received reports of an unknown number of youths attempting to steal a vehicle at a residence in Zuccoli. It is alleged that the resident became aware and confronted the youths before they threw an object at him and fled the scene before police arrival.

    Police also became aware of a 35-year-old male injured at a close by location whilst attending to the initial report. He was allegedly struck in the head by a rock while trying to confront a number of youths attempting to steal a vehicle nearby his residence.

    About 4:15am, police received further reports of a ram raid and burglary at a business on Stuart Highway in Berrimah. The youths stole a number of items and fled the scene before police arrival.

    In a later incident about 11:45am this morning, police received reports of a burglary of a work vehicle, after three male youths threatened a staff member from aCaravan Park on the Stuart Highway in Holtze. 

    A number of members from specialist areas including the Dog Operations Unit, Strike Force Trident, general duties members and Drone resources were deployed and set up a cordon in scrubland behind the hotel to execute a plan of apprehension. Around 5pm this afternoon police apprehended the three male youths aged, 11, 14 and 16. They are expected to be charged later.

    Strike Force Trident detectives have since reviewed CCTV footage and identified that the three male youths were involved in all three incidents. Investigations remain ongoing.

    Territory Duty Superintendent Troy Stephens said “I want to commend the efforts of our officers for their swift and professional response in safely apprehending those involved, and preventing further harm to the community.

    “This result highlights our commitment to keeping the Northern Territory community safe and ensuring offenders are brought before the courts.”

    MIL OSI News –

  • MIL-OSI Australia: Albanese Government provides tax relief to support investment and jobs

    Source: Minister for Trade

    The Albanese Labor Government will provide tax relief for Australia’s distillers, brewers and wine producers.

    Currently brewers and distillers get a full refund of any excise paid up to $350,000 each year. The Government will increase the excise remission cap to $400,000 for all eligible alcohol manufacturers. The Government will also increase the Wine Equalisation Tax (WET) producer rebate to $400,000.

    Adjusting the taxation arrangements will back an important local industry as well as supporting regional tourism, investment and job creation. Currently around 1,500 brewers and distillers and 3,000 wine producers access these tax incentives.

    The proposal will apply from 1 July 2026.

    In addition to the tax relief, the Australian Trade and Investment Commission (Austrade) will be providing Australian distillers, brewers and wine producers with additional support to help them grow their exports in high priority overseas markets.

    This support includes the opportunity to join in trade missions, expert advice and connections to help our small and medium size exporters tap into fast growing markets, including in Southeast Asia and beyond.

    The tax relief is estimated to decrease tax receipts by $70 million over five years from 2024-25.

    Quotes attributable to the Prime Minister Anthony Albanese:

    “To build Australia’s future, we need strong small and medium sized businesses generating jobs and economic opportunity for Australians.

    “This common sense measure will back thriving local industries and open the way for growth.”

    Quotes attributable to the Treasurer Jim Chalmers:

    “We’re pleased to have found room in a tight budget to provide some tax relief for a really important industry creating jobs and opportunities around Australia.

    “Brewers, distillers and winemakers play a large role in many local economies and this support will help them invest and grow.”

    Quotes attributable to the Minister for Trade and Tourism Don Farrell:

    “Supporting small distillery, brewing and wine businesses is not just about producing exceptional products – it’s about creating jobs, fostering local economies, and building a better Australia.

    “By boosting our export support for these businesses, we are helping fast-track their success in international markets which will create even more jobs at home.”

    MIL OSI News –

  • MIL-OSI Australia: New den opens for Dingley Dingoes

    Source: Australian Executive Government Ministers

    Gamedays of the 2025 season for the Dingley Cricket, Football and Netball Clubs will be even better for supporters, with the unveiling of the new open terrace viewing platform at the Dingley Sports Pavilion. 

    Jointly funded by the Albanese Government and Kingston City Council, the new terrace provides impressive views of Souter Oval and enhanced accessibility for supporters with mobility requirements.

    The football and cricket clubs have been a staple in the Dingley community for nearly seven decades, and with the existing facilities starting to show signs of their considerable service in recent years, it was time to breathe new life into Souter Oval.

    The new, extended terrace has been funded through the Investing in Our Communities Program, with the Albanese Government providing $177,000 for the development and the remaining $93,000 funded by the Kingston City Council. 

    It complements the $9.98 million pavilion upgrade that will meet contemporary sporting code requirements and provide the space and flexibility for the sporting clubs to continue servicing the local community.

    The pavilion, with its extended deck, isn’t restricted to gameday use – the public are able to hire the space as an affordable option for meetings, workshops or events with a catering capacity of up to 150 people.

    Construction of the extended terrace provided 22 local full-time jobs and will create another three ongoing jobs in the local community.

    Quotes attributable to Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:

    “Our government is committed to building social infrastructure that brings locals together and strengthens communities. 

    “Sports clubs just like this one are so much more than a place to kick a ball. They’re a safe space for young people, a facility to unite, and a healthy activity. 

    “I look forward to seeing this terrace full on gamedays, packed with supporters to take in the glorious weekend weather and get behind their local team.” 

    Quotes attributable to the Federal Member for Isaacs Mark Dreyfus:

    “For nearly 70 years, the Dingley football, cricket, and now netball clubs, have been giving locals a reason to cheer. 

    “Countless kids from Dingley Village and the surrounding neighbourhoods have kicked their first goal or taken their first wicket right here. 

    “So, I’m proud to be standing here today for the opening of the new pavilion, and I hope the new terrace remains a place for proud parents to cheer on their kids for decades to come.”

    Quotes attributable to Kingston City Council Mayor Georgina Oxley: 

    “Our Council is passionate about backing local sport, and we are thrilled to see this project come to fruition.

    “From promoting physical health and social connections to fostering mental wellbeing and instilling valuable life skills – as we all know the benefits of sport and sports clubs extend far beyond the playing field. 

    “By supporting and investing in our local clubs, we want to cultivate environments where individuals thrive, relationships flourish, and dreams can be pursued.”

    MIL OSI News –

  • MIL-OSI Security: Alleged Member of Cartel Enforcement Group Extradited from Mexico

    Source: Office of United States Attorneys

    SAN DIEGO – Edgar Perez Villa, an alleged member of a Tijuana-based enforcement group for the Cártel de Jalisco Nueva Generación, commonly known as CJNG, was extradited from Mexico to the United States on Thursday and made his first appearance in federal court in San Diego today.

    Perez Villa was indicted along with other alleged Mexican drug cartel enforcers in connection with their alleged violent support of heroin and methamphetamine trafficking.

    At today’s hearing, Perez Villa was arraigned and entered a not-guilty plea before U.S. Magistrate Judge Jill L. Burkhardt. The government asked that Perez Villa be detained on grounds that he is a significant flight risk. Judge Burkhardt scheduled a detention hearing for February 27, 2025, at 2 p.m. before Judge Michelle Pettit. The Court also set March 28, 2025, at 10:30 a.m. for a motion hearing/trial setting before U.S. District Court Judge Cynthia A. Bashant.

    The superseding indictment, returned on March 6, 2020, plus a related indictment returned on March 16, 2021, collectively charged Perez Villa, aka Cabo 89, along with other alleged cartel leaders – including Edgar Herrera Pardo, aka Caiman; Carlos Lorenzo Hinojosa Guerrero, aka Cabo 96; and Israel Alejandro Vazquez-Vazquez, aka Cabo 50, among others. They are charged with drug trafficking crimes.

    According to court documents, the defendants were leaders of a violent group of cartel enforcers known as “Los Cabos” who operated in Baja California to secure control of the region for CJNG.

    Los Cabos allegedly employed rampant violence to ensure that CJNG maintained the ability to traffic drugs through Tijuana and into the United States through San Diego. According to the indictment, investigators learned through judicially-authorized interceptions that the leaders of Los Cabos planned more than 150 murders, the majority of which took place in Tijuana, according to the filings.

    Los Cabos allegedly engaged in this violence in support of CJNG, one of the most dangerous transnational criminal organizations in the world.  The cartel has its hands in trafficking multiple deadly substances. It is responsible for moving tons of cocaine, methamphetamine, and fentanyl-laced heroin into the United States.  CJNG is also a prolific methamphetamine producer and chemical importer, using precursors procured from China and India. CJNG is one of the most powerful Mexican cartels operating within the United States.

    “For far too long, violent cartels have inflicted untold suffering through violence and drug addiction,” said Acting U.S. Attorney Andrew Haden. “Our fight against this reign of terror will not waver.”

    “Cartels use violence and intimidation to control the areas they terrorize,” said DEA Special Agent in Charge Brian Clark. “As an alleged member of Los Cabos, Perez-Villa spent years destroying the community through drug trafficking and violence. One by one, the DEA will hold these criminals accountable and bring them to justice.”

    This case is the result of ongoing efforts by the Organized Crime Drug Enforcement Task Force (OCDETF), a partnership that brings together the combined expertise and unique abilities of federal, state and local law enforcement agencies. The principal mission of the OCDETF program is to identify, disrupt, dismantle and prosecute high-level members of drug trafficking, weapons trafficking and money laundering organizations and enterprises.

    The Justice Department’s Office of International Affairs worked with law enforcement partners in Mexico to secure the arrest and extradition of Perez Villa.

    DEFENDANT                                                                                        

    Case Number: 19CR1274-BAS

    Edgar Perez Villa, aka Cabo 89, aka Nier                Age 35                 Tijuana

    SUMMARY OF CHARGES

    Conspiracy to Distribute Controlled Substances for Purpose of Unlawful Importation, in violation of Title 21 U.S.C. §§ 959, 960 and 963

    Maximum Sentence: Mandatory minimum ten years and up to life imprisonment, $10 million fine

    Conspiracy to Distribute Controlled Substances, in violation of Title 21 U.S.C. §§ 841(a)(1) and 846

    Maximum Sentence: Mandatory minimum ten years and up to life imprisonment, $10 million fine

    INVESTIGATING AGENCIES

    Drug Enforcement Administration

    Homeland Security Investigations

    Department of Justice, Organized Crime Drug Enforcement Task Force

    Department of Justice, Office of Enforcement Operations

    Department of Justice, Office of International Affairs

    San Diego Sheriff’s Department

    *An indictment or complaint is not evidence that the defendant committed the crimes charged. The defendant is presumed innocent until the Government meets its burden in court of proving guilt beyond a reasonable doubt

    MIL Security OSI –

  • MIL-OSI: Faircourt Asset Management Inc. Announces February Distribution

    Source: GlobeNewswire (MIL-OSI)

    Toronto, Feb. 21, 2025 (GLOBE NEWSWIRE) — Faircourt Asset Management Inc., as Manager of the Faircourt Fund (CBOE:FGX), is pleased to announce the monthly distribution payable on the Shares of the below listed Fund.

    Faircourt Funds Trading Symbol Distribution Amount (per share/unit) Ex-Dividend Date Record Date Payable Date
    Faircourt Gold Income Corp. FGX $0.024 February 28, 2025 February 28, 2025 March 14, 2025

    Faircourt Asset Management Inc. is the Investment Advisor for Faircourt Gold Income Corp.

    This press release is not for distribution in the United States or over United States wire services.

    For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com or
    please contact 1-800-831-0304.

    You will usually pay brokerage fees to your dealer if you purchase or sell Shares of the Fund on the CBOE Canada Exchange or other alternative Canadian trading system (an “exchange”). If the Shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying Shares of the Fund and may receive less than the current net asset value when selling them.

    There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    The MIL Network –

  • MIL-OSI USA News: America First Investment Policy

    Source: The White House

    class=”has-text-align-left”>MEMORANDUM FOR THE SECRETARY OF THE TREASURY
             THE SECRETARY OF STATE
             THE SECRETARY OF DEFENSE
             THE ATTORNEY GENERAL
             THE SECRETARY OF COMMERCE
             THE SECRETARY OF LABOR
             THE SECRETARY OF ENERGY
             THE SECRETARY OF HOMELAND SECURITY
             THE ADMINISTRATOR OF THE ENVIRONMENTAL PROTECTION AGENCY
             THE DIRECTOR OF THE OFFICE OF MANAGEMENT AND BUDGET
             THE DIRECTOR OF NATIONAL INTELLIGENCE
             THE UNITED STATES TRADE REPRESENTATIVE
             THE CHAIRMAN OF THE COUNCIL OF ECONOMIC ADVISERS
             THE DIRECTOR OF THE OFFICE OF SCIENCE AND TECHNOLOGY POLICY
             THE ASSISTANT TO THE PRESIDENT FOR NATIONAL SECURITY AFFAIRS
             THE DIRECTOR OF THE FEDERAL BUREAU OF INVESTIGATION

    SUBJECT:       America First Investment Policy
     
     
    By the authority vested in me as President by the Constitution and the laws of the United States of America, I hereby direct the following:
     
             Section 1.  Principles and Objectives.  America’s investment policy is critical to our national and economic security.  Welcoming foreign investment and strengthening the United States’ world-leading private and public capital markets will be a key part of America’s Golden Age.  The United States has the world’s most attractive assets, in technology and across our economy, and we will make it easier for our overseas allies to support United States jobs, United States innovators, and United States economic growth with their capital.
     
             Investment by United States allies and partners can create hundreds of thousands of jobs and significant wealth for the United States.  Our Nation is committed to maintaining the strong, open investment environment that benefits our economy and our people, while enhancing our ability to protect the United States from new and evolving threats that can accompany foreign investment.
     
             Investment at all costs is not always in the national interest, however.  Certain foreign adversaries, including the People’s Republic of China (PRC), systematically direct and facilitate investment in United States companies and assets to obtain cutting-edge technologies, intellectual property, and leverage in strategic industries.  The PRC pursues these strategies in diverse ways, both visible and concealed, and often through partner companies or investment funds in third countries. 
     
             Economic security is national security.  The PRC does not allow United States companies to take over their critical infrastructure, and the United States should not allow the PRC to take over United States critical infrastructure.  PRC-affiliated investors are targeting the crown jewels of United States technology, food supplies, farmland, minerals, natural resources, ports, and shipping terminals.
     
             The PRC is also increasingly exploiting United States capital to develop and modernize its military, intelligence, and other security apparatuses, which poses significant risk to the United States homeland and Armed Forces of the United States around the world.  Related actions include the development and deployment of dual-use technologies, weapons of mass destruction, advanced conventional weapons, and malicious cyber‑enabled actions against the United States and its people.  Through its national Military-Civil Fusion strategy, the PRC increases the size of its military-industrial complex by compelling civilian Chinese companies and research institutions to support its military and intelligence activities.
     
             Those Chinese companies also raise capital by:  selling to American investors securities that trade on American and foreign public exchanges; lobbying United States index providers and funds to include these securities in market offerings; and engaging in other acts to ensure access to United States capital and accompanying intangible benefits.  In this way, the PRC exploits United States investors to finance and advance the development and modernization of its military.
     
             Sec. 2.  Policy.  (a)  It is the policy of the United States to preserve an open investment environment to help ensure that artificial intelligence and other emerging technologies of the future are built, created, and grown right here in the United States.  Investment in our economy from our allies and partners, some of whom have tremendous sovereign wealth funds, supports the national interest.  My Administration will make the United States the world’s greatest destination for investment dollars, to the benefit of all of us. 
     
             (b)  Yet for investment in United States businesses involved in critical technology, critical infrastructure, personal data, and other sensitive areas, restrictions on foreign investors’ access to United States assets will ease in proportion to their verifiable distance and independence from the predatory investment and technology-acquisition practices of the PRC and other foreign adversaries or threat actors.
     
             (c)  The United States will create an expedited “fast-track” process, based on objective standards, to facilitate greater investment from specified allied and partner sources in United States businesses involved with United States advanced technology and other important areas.  This process will allow for increased foreign investment subject to appropriate security provisions, including requirements that the specified foreign investors avoid partnering with United States foreign adversaries.  
     
             (d)  My Administration will also expedite environmental reviews for any investment over $1 billion in the United States.
     
             (e)  The United States will reduce the exploitation of public and private sector capital, technology, and technical knowledge by foreign adversaries such as the PRC.  The United States will establish new rules to stop United States companies and investors from investing in industries that advance the PRC’s national Military-Civil Fusion strategy and stop PRC-affiliated persons from buying up critical American businesses and assets, allowing only those investments that serve American interests.
     
             (f)  The United States will use all necessary legal instruments, including the Committee on Foreign Investment in the United States (CFIUS), to restrict PRC-affiliated persons from investing in United States technology, critical infrastructure, healthcare, agriculture, energy, raw materials, or other strategic sectors.  My Administration will protect United States farmland and real estate near sensitive facilities.  It will also seek, including in consultation with the Congress, to strengthen CFIUS authority over “greenfield” investments, to restrict foreign adversary access to United States talent and operations in sensitive technologies (especially artificial intelligence), and to expand the remit of “emerging and foundational” technologies addressable by CFIUS.
     
             (g)  To reduce uncertainty for investors, reduce administrative burden, and increase Government efficiency, my Administration will cease the use of overly bureaucratic, complex, and open-ended “mitigation” agreements for United States investments from foreign adversary countries.  In general, mitigation agreements should consist of concrete actions that companies can complete within a specific time, rather than perpetual and expensive compliance obligations.  More administrative resources, in turn, will be directed toward facilitating investments from key partner countries.
     
             (h)  The United States will continue to welcome and encourage passive investments from all foreign persons.  These include non-controlling stakes and shares with no voting, board, or other governance rights and that do not confer any managerial influence, substantive decisionmaking, or non-public access to technologies or technical information, products, or services.  This will allow our cutting-edge businesses to continue to benefit from foreign investment capital, while ensuring protection of our national security.
     
             (i)  The United States will also use all necessary legal instruments to further deter United States persons from investing in the PRC’s military-industrial sector.  These may include the imposition of sanctions under the International Emergency Economic Powers Act (IEEPA) through the blocking of assets or through other actions, including actions pursuant to Executive Order 13959 of November 12, 2020 (Addressing the Threat From Securities Investments That Finance Communist Chinese Military Companies), as amended by Executive Order 13974 of January 13, 2021 (Amending Executive Order 13959 — Addressing the Threat From Securities Investments That Finance Communist Chinese Military Companies) and Executive Order 14032 of June 3, 2021 (Addressing the Threat From Securities Investments That Finance Certain Companies of the People’s Republic of China), and actions pursuant to Executive Order 14105 of August 9, 2023 (Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern).  Executive Order 14105 is under review by my Administration, pursuant to the Presidential Memorandum of January 20, 2025 (America First Trade Policy), to examine whether it includes sufficient controls to address national security threats.
     
             (j)  This review will build on measures taken under my authority in 2020 and 2021 and consider new or expanded restrictions on United States outbound investment in the PRC in sectors such as semiconductors, artificial intelligence, quantum, biotechnology, hypersonics, aerospace, advanced manufacturing, directed energy, and other areas implicated by the PRC’s national Military-Civil Fusion strategy.  Covered sectors should be reviewed and updated regularly, including by the Office of Science and Technology Policy.  As part of the review, my Administration will consider applying restrictions on investment types including private equity, venture capital, greenfield investments, corporate expansions, and investments in publicly traded securities, from sources including pension funds, university endowments, and other limited-partner investors.  It is past time for American universities to stop supporting foreign adversaries with their investment decisions, much as they should stop granting university access to supporters of terrorism.
     
             (k)  To further reduce incentives for United States persons to invest in our foreign adversaries, we will review whether to suspend or terminate the 1984 United States-The People’s Republic of China Income Tax Convention.  That tax treaty, along with the PRC’s admission to the World Trade Organization and the related undertaking by the United States to accord unconditional Most Favored Nation treatment to goods and services of the PRC, led to the deindustrialization of the United States and the technological modernization of the PRC military.  We will seek to reverse both those trends.  United States investors will invest in the future of America, not the future of the PRC.
     
             (l)  To protect the savings of United States investors and channel them into American growth and prosperity, my Administration will also:
     
             (i)    determine if adequate financial auditing standards are upheld for companies covered by the Holding Foreign Companies Accountable Act;
     
             (ii)   review the variable interest entity and subsidiary structures used by foreign-adversary companies to trade on United States exchanges, which limit the ownership rights and protections for United States investors, as well as allegations of fraudulent behavior by these companies; and
     
             (iii)  restore the highest fiduciary standards as required by the Employee Retirement Security Act of 1974, seeking to ensure that foreign adversary companies are ineligible for pension plan contributions.
     
             Sec. 3.  Implementation.  The policy set forth in section 2 of this memorandum shall be implemented, to the extent permitted by law and available appropriations, and subject to internal programmatic and budgetary processes, as follows:
     
             (a)  With respect to sections 2(a) through 2(k) of this memorandum, the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Defense, the Secretary of Commerce, the United States Trade Representative, and the heads of other executive departments and agencies (agencies) as deemed appropriate by the Secretary of the Treasury, and with respect to the authorities of CFIUS in coordination with the members thereof, shall take such actions, including the promulgation of rules and regulations, to support all powers granted to the President by IEEPA, section 721 of the Defense Production Act of 1950, as amended, and other statutes to carry out the purposes of this memorandum.
     
             (b)  With respect to section 2(d) of this memorandum, the Administrator of the Environmental Protection Agency, in consultation with the heads of other agencies as appropriate, shall carry out the purposes of this memorandum.
     
             (c)  With respect to section 2(l)(i) of this memorandum, the Secretary of the Treasury shall engage as appropriate with the Securities and Exchange Commission and the Public Company Accounting Oversight Board; with respect to section 2(l)(ii) of this memorandum, the Attorney General, in coordination with the Director of the Federal Bureau of Investigation, shall provide a written recommendation on the risk posed to United States investors based on the auditability, corporate oversight, and evidence of criminal or civil fraudulent behavior for all foreign adversary companies currently listed on domestic exchanges; and with respect to section 2(l)(iii) of this memorandum, the Secretary of Labor shall publish updated fiduciary standards under the Employee Retirement Income Security Act of 1974 for investments in public market securities of foreign adversary companies.
     
             Sec. 4.  Definition.  For purposes of this memorandum, the term “foreign adversaries” includes the PRC, including the Hong Kong Special Administrative Region and the Macau Special Administrative Region; the Republic of Cuba; the Islamic Republic of Iran; the Democratic People’s Republic of Korea; the Russian Federation; and the regime of Venezuelan politician Nicolás Maduro.
     
             Sec. 5.  General Provisions.  (a)  Nothing in this memorandum shall be construed to impair or otherwise affect:

                      (i.) the authority granted by law to an executive department or agency, or the head thereof; or

                      (ii.) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.

             (b)  This memorandum shall be implemented consistent with applicable law and subject to the availability of appropriations.
     
             (c)  This memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

    MIL OSI USA News –

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Encourages Foreign Investment While Protecting National Security

    Source: The White House

    MAKING AMERICA THE WORLD’S GREATEST DESTINATION FOR INVESTMENT: Today, President Donald J. Trump signed a National Security Presidential Memorandum (NSPM) aimed at promoting foreign investment while protecting America’s national security interests, particularly from threats posed by foreign adversaries like the People’s Republic of China.

    • The NSPM establishes that welcoming foreign investment is crucial for economic growth, job creation, and innovation, ensuring that the United States leverages its world-leading financial markets to support American jobs and innovators.
    • The United States will create a “fast-track” process to facilitate greater investment from specified allies and partners, with conditions that prevent investors from partnering with our foreign adversaries in corresponding areas. The United States will also expedite environmental reviews for any investment over $1 billion.
    • The Committee on Foreign Investment in the United States (CFIUS) will be used to restrict Chinese investments in strategic U.S. sectors like technology, critical infrastructure, healthcare, agriculture, energy, raw materials, and others.
    • The United States will protect our farmland and real estate near sensitive facilities, strengthen CFIUS authority over “greenfield” investments, and restrict foreign adversary access to U.S. talent and operations in sensitive technologies.
    • Rather than use overly bureaucratic, complex, and open-ended “mitigation” agreements for U.S. investments from foreign adversaries, more administrative resources will be directed toward facilitating investments from key partner countries.
    • The United States will establish new rules to curb the exploitation of its capital, technology, and knowledge by foreign adversaries such as China to ensure that only those investments that serve American interests are allowed.
    • The Trump Administration will consider new or expanded restrictions on U.S. outbound investment to China in sensitive technologies, including semiconductors, artificial intelligence, quantum, biotechnology, aerospace, and more, to stop American funds from supporting China’s Military-Civil Fusion (MCF) strategy.
    • The United States will continue to encourage passive investments from all foreign persons – this will allow our cutting-edge businesses to continue to benefit from foreign capital while safeguarding our national security.
    • The Trump Administration will protect U.S. investors’ savings and boost American prosperity by auditing foreign companies on U.S. exchanges, reviewing their ownership structures and any alleged fraud, and ensuring foreign adversary companies are ineligible for pension plan contributions.

    ENSURING AMERICA’S PROSPERITY AND SECURITY: President Trump is committed to making the United States a premier destination for investment while balancing national security interests.

    • The United States is the leading innovator of next-generation technologies, and this action makes it easier for our friends to support U.S. innovators and economic growth.
    • Certain foreign countries, including China, systematically direct investment in American companies to gain access to cutting-edge technology, intellectual property, and leverage in strategic industries, which must be countered.
      • Foreign entities and individuals hold roughly 43 million acres of U.S. agricultural land, which is nearly 2% of all land in the U.S.
      • China owns more than 350,000 acres of farmland across 27 states.
    • China is exploiting our capital and ingenuity to fund and modernize their military, intelligence, and security operations, posing direct threats to United States security with weapons of mass destruction, cyber warfare, and more.
    • Chinese hackers have repeatedly targeted U.S. entities, including recently breaching the Treasury Department’s CFIUS office, the entity responsible for reviewing foreign investments for national security risks.

    SAFEGUARDING AMERICAN INNOVATION: President Trump is keeping his promise to prevent foreign adversaries from taking advantage of the United States.

    • President Trump: “We will also adopt new rules to stop U.S. companies from pouring investments into China, and to stop China from buying up America, allowing all of those investments that clearly serve American interests.”
      • President Trump also promised to “stop Chinese-owned” firms from “stealing our intellectual property, our workers’ knowledge and then sending it back to Communist China. We’re not going to let that happen.”
      • President Trump: “We have powers that haven’t really been used in terms of environmental. If you invest over $1 billion in the United States, we’re going to give expedited reviews.”
    • This NSPM builds on numerous actions President Trump took in his first term to protect American innovation, including:
      • Initiating a Section 301 investigation into China’s practices related to forced technology transfer, unfair licensing, and intellectual property policies.
      • Announcing a Department of Justice China Initiative to identify and prosecute trade secrets theft, hacking, and economic espionage – a program which the Biden Administration ended.
      • Prioritizing research and development of America’s artificial intelligence capabilities.
      • Taking action to prevent foreign malign actors from gaining access to United States information networks.

    MIL OSI USA News –

  • MIL-OSI USA: ICE executes federal search warrant at local rental equipment business

    Source: US Immigration and Customs Enforcement

    SAN JUAN, P.R. — U.S. Immigration and Customs Enforcement executed a federal criminal search warrant at a local San Juan rental equipment business, Feb 21., as part of an ongoing ICE Homeland Security Investigations worksite enforcement criminal investigation targeting establishments allegedly involved in labor exploitation and the employment of undocumented aliens from Dominican Republic and Haiti.

    The ICE HSI-led immigration enforcement operation was supported by other federal agencies including the Drug Enforcement Administration, Enforcement Removal Operations, U.S. Marshals, U.S. Customs and Border Protection, Office of Field Operations, U.S. Border Patrol, Bureau of Alcohol, Tobacco, Firearms, and Explosives, the U.S. Coast Guard, and the FBI.

    During the search warrant, no arrests were conducted, however ICE HSI seized documents and digital media devices for evidence purposes. The documents included employment records, tax records, I-9 forms, bank statements, sales, and contracts information. The digital media devices included electronic equipment, such as cellular telephones and computers.

    ICE HSI San Juan Special Agent in Charge Rebecca González-Ramos said, “This investigation encompasses several aspects of our mission in Puerto Rico. We are not only enforcing immigration laws but also identifying any labor exploitation crimes including forced labor, a modality of human trafficking.”

    If you see Say Something, Say Something. Call ICE HSI Communication Center at 787-729-6969.

    Members of the public can follow us on X @HSISanJuan.

    MIL OSI USA News –

  • MIL-OSI: Purpose Investments Inc. Announces February 2025 Distributions for the Seven New Yield Shares ETFs

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 21, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce the distributions for the month of February 2025 for its newest set of Yield Shares ETFs.

    The ex-distribution date for all seven Yield Shares ETFs listed in the table below is February 28, 2025.

    ETF Name Ticker Distribution
    per Unit    		 Record
    Date    		 Payable
    Date    		 Distribution
    Frequency
    Costco (COST) Yield Shares
    Purpose ETF – ETF Series    		 YCST $0.1000 02/28/2025 03/06/2025 Monthly
    Palantir (PLTR) Yield Shares
    Purpose ETF – ETF Series    		 YPLT $0.2500 02/28/2025 03/06/2025 Monthly
    UnitedHealth Group (UHN)
    Yield Shares Purpose ETF –
    ETF Series    		 YUNH $0.1100 02/28/2025 03/06/2025 Monthly
    Coinbase (COIN) Yield
    Shares Purpose ETF – ETF
    Series    		 YCON $0.3000 02/28/2025 03/06/2025 Monthly
    Netflix (NFLX) Yield Shares
    Purpose ETF – ETF Series    		 YNET $0.1100 02/28/2025 03/06/2025 Monthly
    Broadcom (AVGO) Yield
    Shares Purpose ETF – ETF
    Series    		 YAVG $0.1500 02/28/2025 03/06/2025 Monthly
    Tech Innovators Yield
    Shares Purpose ETF – ETF
    Series    		 YMAG $0.2000 02/28/2025 03/06/2025 Monthly


    About Purpose Investments Inc.

    Purpose Investments is an asset management company with more than $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

    For further information, please contact: info@purposeinvest.com

    For media inquiries, please contact:
    Keera Hart
    Keera.Hart@kaiserpartners.com
    905-580-1257

    Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    The MIL Network –

  • MIL-OSI Security: San Diego Gang Member Sentenced in Organized Crime Conspiracy

    Source: Office of United States Attorneys

    SAN DIEGO – Odyssey Carrillo, a member of the Emerald Hills Bloods gang, was sentenced in federal court today to 168 months in prison for his role in a racketeering conspiracy involving coordinated violent crimes by street gangs.

    Carrillo is the ninth and final member of the conspiracy to be sentenced. He pleaded guilty to Conspiracy to Conduct Enterprise Affairs Through a Pattern of Racketeering Activity and Hobbs Act Robbery. According to court documents, the crimes committed by the enterprise included armed robbery, sex trafficking, prostitution, violence and other profit-driven illegal activities.

    The defendants were charged with racketeering conspiracy – the statute’s original inspiration was to combat organized-crime syndicates and mobsters. But as criminal street gangs have become more sophisticated and prolific in their illicit business pursuits, this statute has become an effective tool to address all aspects of coordinated violent criminal conduct.

    Previously sentenced defendants include Jerome Brunson, Cedric Jordan, Stephen Nathaniel Calhoun, Jr., Carl Moore, Maurice Johnson, Dajay Leon Scott, Taashawn Henderson and Sergio Valentin Louden.

    In his plea agreement, Carrillo admitted that he joined the conspiracy that engaged in a pattern of racketeering activity that included robbery, prostitution and sex trafficking. Carrillo further admitted to committing racketeering activity himself, including two specific armed robberies.

    Carrillo, Calhoun and Moore admitted to participating in the January 19, 2019, armed robbery of San Carlos Jewelers in San Diego and the February 11, 2019, armed robbery of the Bert Levi Family Jewelers in San Diego.

    Calhoun also admitted to robbing the Medicine Shoppe in San Diego by gunpoint on May 20, 2019. Calhoun and Moore both admitted to being Lincoln Park Bloods (LPK) gang members; Carrillo admitted to being an Emerald Hills gang member, a Bloods-aligned street gang that often works cooperatively with LPK. Calhoun and Moore were sentenced by U.S. District Judge Cynthia Bashant to 176 months and 105 months in custody, respectively.

    According to their plea agreements, in furtherance of the racketeering conspiracy, Jerome Brunson admitted to being an LPK member who participated in the November 19, 2019, armed robbery of a Jared’s jewelry store in National City. Judge Bashant sentenced Brunson to 57 months in custody. Dajay Scott and Sergio Louden admitted to being LPK members who robbed numerous women of their purses outside nail salons in January 2020. Judge Bashant sentenced Scott and Louden to 48 months and 72 months in custody, respectively.

    Cedric Jordan, Maurice Johnson, and Taashawn Henderson admitted to being LPK members who, during the course and in furtherance of the conspiracy, engaged in sex offenses related to sex trafficking and transportation for purposes of prostitution. Judge Bashant sentenced Jordan, Johnson, and Henderson to 63 months, 60 months, and 58 months in custody, respectively.

    “Every member of our community is put at risk when criminal street gangs engage in armed robberies, sex trafficking, and other violent criminal acts,” said Acting U.S. Attorney Andrew Haden. “This case is the result of outstanding teamwork and collaboration between our local and federal law enforcement partners. We will continue to hold these violent groups accountable, using the RICO tools at our disposal, to bring justice to crime victims and to make our community safer.”

    “Today’s sentencing reflects the hard work, determination, and collaboration of multiple agencies to dismantle an organized crime conspiracy,” said FBI San Diego Special Agent in Charge Stacey Moy. “The violent crime and gang threats are too diverse, too dangerous, and too all-encompassing for any of us to tackle alone. FBI will continue to work with our partners to disrupt violent crime, human traffickers, and violent gangs whose criminal acts devastate our communities.”

    This case is being prosecuted by Assistant U.S. Attorneys Mario J. Peia, Katherine E. A. McGrath, and Matthew Brehm.

    DEFENDANTS                                             Case Number 21cr2909-BAS                           

    Jerome Brunson                                              Age: 27                                   San Diego, CA

    Cedric Jordan                                                  Age: 36                                   San Diego, CA

    Stephen Nathaniel Calhoun, Jr.                      Age: 24                                   San Diego, CA

    Carl Moore                                                      Age: 34                                   San Diego, CA

    Maurice Johnson                                             Age: 34                                   San Diego, CA

    Dajay Leon Scott                                            Age: 26                                   San Diego, CA

    Taashawn Henderson                                      Age: 29                                   San Diego, CA

    Sergio Valentin Louden                                  Age: 36                                   San Diego, CA

    Odyssey Carrillo                                             Age: 23                                   San Diego, CA

    SUMMARY OF CHARGES

    Conspiracy to Conduct Enterprise Affairs Through a Pattern of Racketeering Activity – Title 18, U.S.C., Section 1962(d)

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

    Interference with Commerce by Robbery – Title 18, U.S.C., Section 1951

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

    Brandishing a Firearm During and In Relation to a Crime of Violence – Title 18, U.S.C., Section 924(c)

    Maximum penalty: Life in prison with a seven-year mandatory minimum and $250,000 fine

    INVESTIGATING AGENCIES

    Federal Bureau of Investigation

    San Diego Police Department

    San Diego Human Trafficking Task Force

    San Diego County Sheriff’s Department

    National City Police Department

    San Diego County District Attorney’s Office

    *The charges and allegations contained in an indictment or complaint are merely accusations, and the defendants are considered innocent unless and until proven guilty.

    MIL Security OSI –

  • MIL-OSI USA: Kennedy champions bill to protect investor privacy by prohibiting vulnerable SEC database

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)

    MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, introduced the Protecting Investors’ Personally Identifiable Information Act. The bill would protect information that could reveal the identity of American investors by prohibiting the Securities and Exchange Commission (SEC) from requiring brokers to submit investors’ personally identifiable information to its Consolidated Audit Trail (CAT).

    Earlier this month, the Trump administration’s SEC issued an order that exempts certain personally identifiable information consisting of investors’ names, addresses and years of birth from CAT reporting. Kennedy’s bill would permanently remove reporting requirements on investors’ personally identifiable information.

    “Americans assume their private information is secure when they invest money in the U.S. stock market. However, the SEC’s unlawful Consolidated Audit Trail could put their data in jeopardy. My bill would protect American investors from foreign enemies and bad actors by preventing the SEC from collecting personal information it doesn’t need and storing it on a dangerous database,” said Kennedy.

    Rep. Barry Loudermilk (R-Ga.) introduced the bill in the House of Representatives.

    “The SEC’s collection of personal financial information through the Consolidated Audit Trail is unconstitutional and entirely unnecessary; and it exposes American investors to serious cybersecurity risks from foreign adversaries and criminal hackers. This is why I developed the Protecting Investors’ Personally Identifiable Information Act in the House. The bill would effectively eliminate the potential for both accidental and intentional breaches by restricting the SEC’s automatic collection of investors’ PII. Among its provisions, the SEC will only be permitted to request this data in cases directly tied to investigating or enforcing violations of federal securities law. I want to thank Senator John Kennedy for introducing the Senate companion to this important bill,” said Loudermilk.

    Sens. John Boozman (R-Ark.), Katie Britt (R-Ala.), Tom Cotton (R-Ark.), Steve Daines (R-Mont.), Jerry Moran (R-Kan.), Pete Ricketts (R-Neb.) and Mike Lee (R-Utah) cosponsored the bill.

    “Investors rely on the SEC to safeguard sensitive financial information. Requiring brokers to submit investors’ private, identifiable information, including social security numbers, into a central database will invite even more attempts to compromise Americans’ data privacy. I am pleased to join my colleagues to reject this ill-advised scheme and protect personal information,” said Boozman.

    “The SEC’s Consolidated Audit Trail database holds millions of Americans’ sensitive financial information. Since taking office, I’ve pushed back against the profound risks the CAT poses to Americans’ individual liberty and personal privacy. The Protecting Investors’ Personally Identifiable Information Act would permanently prohibit the requirement of submitting personal information to the CAT, protecting American investors,” said Britt.

    “Investors put their faith in the U.S. when they choose to invest in our stock market, and they should not have to worry about their personal information being stolen. This bill will increase our cybersecurity and stop the over-collection of unnecessary personal information for the millions of people who trust our stock market system with their savings and their privacy,” said Daines.

    “Protecting the information of American investors helps build trust and security that encourages investments in our markets. As adversaries target Americans’ personal data through cyberattacks, it is important that the SEC only keeps the data it needs instead of housing additional, personal information that could place investors at greater risk,” said Moran.

     “The Protecting Investors’ Personally Identifiable Information Act is a necessary step in protecting the information and identities of American investors. The American people should feel confident that their participation in the stock market does not mean the leaking of their private information,” said Ricketts. 

    The American Securities Association (ASA) supports the Protecting Investors’ Personally Identifiable Information Act.

    “Senator Kennedy is a true champion for the American people and we applaud his bill to stop the federal government from collecting individual investors’ personal and financial information in a national registry, which is a sitting duck for hackers. The SEC can conduct responsible oversight of our equity markets without collecting the most sensitive personal information of working families, retirees, and savers,” said Chris Iacovella, CEO of the ASA.

    The SEC’s CAT became operational on May 31, 2024, making it the largest government database of its kind. The CAT will collect all customer and order information for equity securities and listed options, including data that might be considered personally identifiable information. 

    The SEC is implementing the CAT despite concerns from investor protection groups and the securities industry and in the wake of vulnerabilities that recent cyber-attacks have revealed at federal agencies. 

    Kennedy’s bill would prohibit the SEC from requiring market participants to submit investors’ personally identifiable information to the CAT. Under this legislation, the SEC can obtain personally identifiable information related to investors only by requesting it on a case-by-case basis. Companies and investors trading on the U.S. stock exchanges would need to fulfill the SEC’s request for this information within 24 hours, though additional time may be requested. 

    The bill would also require the SEC to delete personally identifiable information once the agency resolves the investigation or issue that required that information. 

    Text of the Protecting Investors’ Personally Identifiable Information Act is available here.

    MIL OSI USA News –

  • MIL-OSI: Hampton Debentures Redeemed and Reinvested

    Source: GlobeNewswire (MIL-OSI)

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

    TORONTO, Feb. 21, 2025 (GLOBE NEWSWIRE) — Hampton Financial Corporation (“Hampton” or the “Company”, TSXV: HFC) announces that Hampton debentures in the aggregate principal amount of $2,175,000 have been redeemed and that the holders of the debentures have reinvested the redemption proceeds into new non-convertible debentures of Hampton in the aggregate principal amount of $2,000,000, bearing interest at 10% per annum and maturing on December 29, 2025, and separately in the case of debentures held by its CEO, Peter Deeb, in the issuance of 255,050 subordinate voting shares of Hampton at $0.70 per share.

    The Company received conditional approval from the TSX Venture Exchange for the issuance of the subordinate voting shares, which are subject to a four month hold period expiring on June 21, 2025.

    About Hampton Financial Corporation

    Hampton is a unique private equity firm that seeks to build shareholder value through long-term strategic investments.

    Through its wholly-owned subsidiary, Hampton Securities Limited (“HSL”), Hampton is actively engaged in family office, wealth management, institutional services and capital markets activities. HSL is a full-service investment dealer, regulated by CIRO and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario, and Quebec. In addition, the Company, through HSL, provides investment banking services, which include assisting companies with raising capital, advising on mergers and acquisitions, and aiding issuers in obtaining a listing on recognized securities exchanges in Canada and abroad and HSL’s Corporate Finance Group provides early stage, growing companies the capital they need to create value for investors. HSL continues to develop its Wealth Management, Advisory Team and Principal-Agent programs which offers to the industry’s most experienced wealth managers a unique and flexible operating platform that provides additional freedom, financial support, and tax effectiveness as they build and manage their professional practice.

    Through its wholly-owned subsidiary, Oxygen Working Capital (“OWC”) the company offers factoring and other commercial financing services to clients across Canada.

    The Company is exploring opportunities to diversify its sources of revenue by way of strategic investments in both complimentary business and non-core sectors that can leverage the expertise of its Board and the diverse experience of its management team.

    For more information, please contact:

    Olga Juravlev
    Chief Financial Officer
    Hampton Financial Corporation
    (416) 862-8701

    Or

    Peter M. Deeb
    Executive Chairman & CEO
    Hampton Financial Corporation
    (416) 862-8651

    The TSXV has in no way approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

    No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States or to a U.S. person absent registration or pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.

    Forward-Looking Statements

    This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “should”, “hopeful”, “recovery”, “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project” or similar words, including negatives thereof, suggesting future outcomes.

    Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond the Company’s ability to predict or control which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Forward-looking statements are not a guarantee of future performance. Although the Company believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly, readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

    The MIL Network –

  • MIL-OSI China: 2025 Action Plan for Stabilizing Foreign Investment

    Source: People’s Republic of China – State Council News

    2025 Action Plan for Stabilizing Foreign Investment

    Ministry of Commerce and

    National Development and Reform Commission

    Foreign investment is crucial for promoting high-level opening-up. It plays an important role in fostering new quality productive forces and advancing Chinese modernization. We have thus formulated this action plan to intensify efforts to attract and stabilize foreign investment in 2025.

    I. Expanding self-initiated opening-up in an orderly manner

    1. Expanding pilot programs to open up the telecommunications, healthcare, and education sectors. We will support efforts of the pilot regions to publicize and implement the opening-up policies for value-added telecommunications, biotechnology, and wholly foreign-owned hospitals, and assemble special teams to follow foreign-invested projects under discussion and help solve problems timely, and push for early implementation of these projects. We will expand pilot programs to open up the telecommunications and healthcare sectors at an appropriate time. We will study and formulate plans to expand self-initiated opening-up of the education and cultural sectors in an orderly manner, publish them at an appropriate time and implement them with steady steps.

    2. Ensuring the lift of restrictions on foreign investment in the manufacturing sector is well-implemented. For areas not on the negative lists for foreign investment access, we will administer foreign investment access in the principle of equal treatment for domestic and foreign investment alike. We will revise the negative lists and further reduce the listed items to expand opening-up to all types of market operators.

    3. Improving the national comprehensive demonstration zones for expanding opening-up in the services sector. We will support the leading role of the Beijing demonstration zone in expanding services liberalization to accelerate and intensify the pilot efforts. We will further expand the scope of the pilot to include new elements and tasks, and experiment with the opening-up measures in key areas in the demonstration zones first. We will conduct in-depth studies on policy measures to open up the services sector further, closely follow the progress of the pilot, and timely replicate pilot experience. We will support the standardization in the national comprehensive demonstration zones for expanding opening-up in the services sector.

    4. Advancing opening-up of the biomedicine sector in an orderly manner. We will support the participation of qualified foreign-invested enterprises (FIEs) in the segmented production of biological products on a pilot basis, speed up the review of pilot programs and quality monitoring programs at the provincial level, promote the optimization of resource allocation in the biomedicine industry, and coordinate for the timely resolution of difficulties facing enterprises in the pilot process. We will study and improve the opening-up policies for the pharmaceutical sector, facilitate more rapid launch of new drugs, optimize volume-based drug procurement, and make medical device procurement more predictable.

    5. Encouraging foreign equity investment in China. We will earnestly implement the Measures for the Administration of Strategic Investment in Listed Companies by Foreign Investors, formulate and release guidelines for making strategic investment, and intensify publicity efforts targeting listed companies, overseas funds, investment institutions, etc., to encourage more high-quality long-term foreign investment in listed Chinese companies.

    II. Improving the level of investment promotion

    6. Building continuously the brand of “Invest in China”. We will deepen the institutional reform of the foreign investment promotion system as required, devise an annual implementation plan for building the brand of “Invest in China”, and meticulously design and implement a series of “Invest in China” events. Central and local governments will make coordinated efforts in organizing overseas investment promotion events to fill in the gaps in and strengthen industrial and supply chains in the manufacturing sector with foreign investment. In light of the different characteristics of China’s major sources of foreign investment, we will research and formulate differentiated investment attraction targets and strategies, work closely with bilateral joint (mixed) economic and trade committees, and fully activate bilateral investment promotion working groups to boost project matchmaking.

    7. Strengthening support for FIEs’ reinvestment in China. We will keep optimizing the business environment and ensure full national treatment for FIEs. We will research and formulate policy measures to encourage FIEs to reinvest in China and use more of their profits made in China for reinvestment. We will pilot an information report program for FIEs’ investment in China.

    8. Encouraging foreign investment in a wider range of industries. We will revise and expand the catalogue of industries where foreign investment is encouraged, optimize foreign investment mix, promote the high-quality development of China’s manufacturing sector with foreign investment, steer foreign investment to the modern services sector, and support more foreign investment flows into China’s central, western and northeastern regions.

    9. Removing restrictions on foreign-invested investment companies’ access to domestic loans. Foreign-invested investment companies will be allowed to access domestic loans for equity investment. We will make greater efforts to communicate relevant policies and provide facilitation for multinational companies to invest in and establish headquarters and similar institutions in China.

    10. Encouraging multinational companies to invest in and establish investment companies. We will refine the rules for setting up foreign-invested investment companies and provide facilitation for multinational companies to invest in and establish investment companies in China in terms of foreign exchange administration, cross-border movement of personnel and cross border data flows. Companies invested in and established in China by foreign-invested investment companies will be eligible for FIE treatment in accordance with law and regulation.

    11. Facilitating merger & acquisition (M&A) investment in China by foreign investors. The Provisions on the Merger and Acquisition of Domestic Companies by Foreign Investors will be amended under the framework of the Foreign Investment Law, with refined M&A rules and transaction procedures, better defined scope of administration and lower threshold for cross-border share swaps.

    12. Intensifying investment attraction in key sectors. We will encourage and ensure national treatment for foreign investment in animal husbandry-related sectors such as breeding, production of rearing equipment and production of animal feed and veterinary medicine. To create more business opportunities and cooperation space for FIEs, we will support their participation in China’s new industrialization process, with a focus on high-tech sectors. Foreign investment utilization will be encouraged in services sectors including elderly care, culture and tourism, sports, healthcare, vocational education and finance to meet consumer demand for multi-tiered services.

    13. Promoting communications on economic policies and the business environment. Press releases and briefings, interviews and expert comments will be fully utilized to showcase and explain China’s new policies, measures and highlights for expanding high-standard opening up.

    III. Strengthening the functions of opening-up platforms

    14. Deepening institutional reforms in economic and technological development zones. We will improve policy support systems and develop policy papers on deepening reforms and innovations in national economic and technological development zones, roll out new measures in guaranteeing production factors, opening up key sectors, carrying out pilot reform tasks and delegating economic management power, so as to improve the standards of export-oriented economy in national economic and technological development zones. For national high-tech industrial development zones, special customs supervision areas and various provincial development zones, we will tap into their role as opening-up platforms for stabilizing foreign investment.

    15. Implementing the strategy to upgrade pilot free trade zones. We will improve the quality and efficiency of pilot free trade zones, expand the authorization of reform tasks, accelerate the implementation of core policies for the Hainan Free Trade Port and create a highland for attracting foreign investment. We support pilot free trade zones in stepping up stress tests in sectors accessible to foreign investment and continuing to expand institutional opening up in rules, regulation, management and standards.

    IV. Redoubling efforts to enhance services

    16. Promoting the implementation of major and key foreign-invested projects. We will encourage the inclusion of more foreign-invested projects in the lists of major and key foreign-invested projects and enhance policy support and services to accelerate the implementation of projects.

    17. Establishing a system of standards for domestic products in government procurement. We will speed up developing and issuing relevant documents to specify the standards of domestic products in government procurement and ensure that products produced by enterprises of different ownerships within China participate equally in government procurement activities. We will enhance policy communication in the field of government procurement and improve the handling of complaints from FIEs.

    18. Broadening financing channels for FIEs. We will encourage financial institutions to provide financing services for FIEs, research the borrowing needs, investment and operation of key FIEs, and organize targeted bank-enterprise matchmaking events. Various types of funds will be guided to carry out equity investment cooperation with FIEs, and FIEs supported in expanding their investment and business and deepening their footprint in China.

    19. Facilitating personnel exchange. We will accelerate negotiations on mutual visa exemption agreements, and continue to expand the coverage of China’s unilateral visa-free policy in a prudent manner. Policies for port visa, visa-free transit and regional visa-free entry will be optimized to promote cross-border movements of people. A Guide to Working and Living in China as Business Expatriates will be upgraded.

    20. Improving the level of trade facilitation for FIEs. We will work earnestly on issuing Certificates of Origin under preferential trade agreements to help FIEs enjoy tariff concessions from agreement partners. The inspection and regulation of complete sets of equipment imported for key foreign-invested projects will be optimized. More efforts will be made to support FIEs in obtaining the “Authorized Economic Operator” (AEO) certificate, and random inspections will be further optimized and reduced for AEOs. We will promote the adoption of inspection results of imports in an active and prudent manner, and include more qualified Chinese and foreign inspection institutions on the list of institutions whose inspection results are adopted. FIEs will be encouraged to apply for recordation of their intellectual property rights, and any infringement in the process of import and export will be resolutely combated.

    Under the centralized and unified leadership of the Central Committee of the Communist Party of China, all regions and relevant departments should unswervingly deepen reform and opening up, refine specific implementation measures, and innovate working methods and strengthen policy and factor support in areas including investment promotion, rights and interests protection and services guarantee, to ensure that the measures can be put in place and take effect in 2025, so as to effectively boost the confidence of foreign investors. Relevant departments should be organized to visit key regions and major FIEs to better understand the requests of FIEs and effectively respond to their concerns. The Ministry of Commerce and the National Development and Reform Commission will work with relevant departments and agencies to enhance guidance and coordination for effective policy communication and implementation. Significant matters should be reported in a timely manner.

    MIL OSI China News –

  • MIL-OSI USA: ICYMI: Republicans Block Markey Amendment to Budget Resolution that Would Extend Alzheimer’s Research Funding

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Watch: Senator Markey Introduces Amendment to Fund Alzheimer’s Research
    Washington (February 21, 2025) – Senator Edward J. Markey (D-Mass.), ranking member of the Health Education, Labor, and Pensions (HELP) Subcommittee on Primary Health and Retirement Security and founder and co-chair of the Congressional Task Force on Alzheimer’s, yesterday introduced an amendment to the Senate’s budget resolution, which would increase funding for Alzheimer’s research amidst cuts to National Institutes of Health (NIH) research funding. Republicans overwhelmingly voted down the amendment from passing. 
    Below is an excerpt from Senator Markey’s remarks on the Senate floor.
    “Funding for Alzheimer’s research at the NIH is essential. Nearly seven million Americans are living with Alzheimer’s right now and if nothing changes, fifteen million Americans will have Alzheimer’s by 2050 with a cost of one trillion dollars a year to our health care system. We need to tackle this challenge head on by increasing funding for NIH research for Alzheimer’s. Trump and DOGE have already cut and slowed down NIH research, interfering with our ability to cure this disease. We must guarantee that Alzheimer’s research is protected.”  
    In October 2024, Senators Markey and Susan Collins (R-Maine) announced President Biden signed their bipartisan Alzheimer’s Accountability and Investment Act (AAIA) and National Alzheimer’s Project Act (NAPA) Reauthorization into law. These bills cement and build on the important progress that has been made to prevent and effectively treat Alzheimer’s disease.
    Senator Markey is a leader in the fight to find a cure for Alzheimer’s disease and to support family caregivers. In July 2024, Senator Markey applauded the HELP Committee’s passage of Older Americans Act Reauthorization Act of 2024, which included provisions based on his Respite Care And Resources for Everyone (CARE) Act and Convenient Care for Caregivers Act to expand respite care for family caregivers of older adults that need long-term care, including individuals with Alzheimer’s disease and related dementia. Earlier that month, Senator Markey unveiled his “Caring for Caregivers” family caregiving agenda, which included his Convenient Care for Caregivers Act to support family caregivers and individuals with Alzheimer’s receiving health care services at the same time and location to improve health outcomes.
    As a member of the House of Representatives, Senator Markey founded the bipartisan, bicameral Congressional Task Force on Alzheimer’s to develop a whole-of-government approach to finding a cure for Alzheimer’s. He created the Independence at Home program to provide seniors, including individuals with Alzheimer’s and other dementia, the option to receive primary care in their home. Senator Markey authored the bipartisan Spending Reductions Through Innovations in Therapies (SPRINT) Act, which would encourage drug development for high-cost, chronic health conditions such as Alzheimer’s, the Health Outcomes, Planning and Education (HOPE) Act to improve early detection and diagnoses of Alzheimer’s and support caregivers, and the Alzheimer’s Breakthrough Act, which would require the National Institutes of Health (NIH) work to improve treatment outcomes and engage federal agencies in the effort to combat Alzheimer’s.

    MIL OSI USA News –

  • MIL-OSI: The New America High Income Fund, Inc. Update on Timing of Reorganization

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Feb. 21, 2025 (GLOBE NEWSWIRE) — The New America High Income Fund, Inc. (the “Fund”) (NYSE: HYB) announced today that the reorganization of the Fund into the T. Rowe Price High Yield Fund (the “T. Rowe Price Fund”), a separate series of the T. Rowe Price High Yield Fund, Inc. (the “Reorganization”), initially expected to close following the close of business of the New York Stock Exchange on Friday, February 21, 2025, is now expected to close on a mutually agreed upon date in writing by the parties, subject to satisfaction of customary closing conditions. Upon the closing of the Reorganization, shareholders of the Fund will become holders of Investor Class shares of the T. Rowe Price Fund.

    About the Fund
    The New America High Income Fund, Inc. is a diversified, closed-end management investment company with a leveraged capital structure. The Fund’s investment adviser is T. Rowe Price Associates, Inc. (“T. Rowe Price”). As of January 31, 2025, T. Rowe Price and its affiliates managed approximately $1.65 trillion of assets. T. Rowe Price has provided investment advisory services to investment companies since 1937.

    This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of the Fund or the T. Rowe Price Fund. Additional information about the Fund and the T. Rowe Price Fund, including performance and portfolio characteristic information, is available at www.newamerica-hyb.com or www.troweprice.com, respectively.

    Statements in this press release that are not historical facts may be forward-looking statements, as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that may be beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.

    Contact:        
    Ellen E. Terry, President
    Telephone: 617-263-6400
    www.newamerica-hyb.com

    The MIL Network –

  • MIL-OSI Security: Mississippi Woman Pleads Guilty to Scheme to Defraud COVID-19 Relief Program of Over $5,000,000

    Source: Office of United States Attorneys

    Memphis, TN – A Mississippi woman has pled guilty to defrauding the Paycheck Protection Program (PPP), a federal program intended to help small businesses survive the COVID-19 pandemic, of over $5,000,000. Reagan Fondren, Acting United States Attorney for the Western District of Tennessee, announced the guilty plea today.

    On February 20, 2025, Lisa Evans, 42, of Olive Branch, Mississippi, pled guilty before United States District Judge Thomas L. Parker to conspiracy to commit wire fraud.  She will be sentenced on May 22, 2025 and faces a maximum term of 20 years in federal prison. There is no parole in the federal system.

    According to information presented in court, Evans submitted fraudulent PPP loan applications for numerous individuals who were not entitled to PPP loans. The applications Evans submitted contained false representations, including fake federal tax documents.  When the individual borrowers obtained the PPP loan funds, they then paid Evans kickbacks of 20 to 30 percent.  The loss to the PPP program was $5,126,258.  

    Acting U.S. Attorney Fondren stated: “Individuals cheating the Paycheck Protection Program stole money from U.S. taxpayers who desperately needed these loans to keep their small businesses afloat and pay their employees during the COVID-19 pandemic. I would especially like to commend and thank the federal law enforcement agencies who uncovered this fraud and brought this defendant to justice: the Federal Housing Finance Agency Office of Inspector General; the Federal Deposit Insurance Corporation Office of Inspector General; the U.S. Treasury Inspector General for Tax Administration, Gulf States Field Division; the U.S. Small Business Administration Office of Inspector General; the U.S. Secret Service, Memphis Field Office; and the Pandemic Response Accountability Committee. My office will continue to work with these law enforcement partners to bring those who committed pandemic benefit fraud in the Western District of Tennessee to justice and to recover stolen pandemic relief funds.”

    Acting U.S. Attorney Fondren also thanked Assistant U.S. Attorney Tony Arvin, who prosecuted this case.

    ###

    For more information, please contact the Media Relations Team at USATNW.Media@usdoj.gov. Follow the U.S. Attorney’s Office on Facebook or on X at @WDTNNews for office news and updates.

    MIL Security OSI –

  • MIL-OSI Security: Brazilian Extradited from Switzerland to the United States to Face Indictment Charging Involvement in $290M+ Cryptocurrency Fraud Scheme

    Source: Office of United States Attorneys

    Tens of thousands of investors deposited bitcoin expecting an investment strategy – Instead, new investor bitcoin used to pay off other investors in a Ponzi scheme

    SEATTLE – A citizen of Brazil appeared in U.S. District Court in Seattle today, after being extradited from Switzerland to face a 13-count indictment for wire fraud and conspiracy regarding his bitcoin investment scheme, announced Acting U.S. Attorney Teal Luthy Miller. Douver T. Braga, 48, lived in Florida between approximately 2016 and 2021 during the bulk of the alleged fraud. The indictment alleges Braga operated a bitcoin investment scheme that was really a Ponzi scheme, as well as an illegal multilevel marketing scheme.

    The grand jury returned the indictment in October 2022. It was unsealed last week following Braga’s arrest in Switzerland. Today Braga pleaded “Not Guilty,” and trial was scheduled in front of U.S. District Judge Tana Lin on April 28, 2025.

    “Mr. Braga allegedly ran a fraud scheme that harkens back more than a century, but he updated his ‘Ponzi’ scheme with the hot new thing: bitcoin,” said U.S. Attorney Teal Luthy Miller. “The victim investors have waited years to see justice. I commend our federal partners at the FBI and IRS Criminal Investigation for their diligent work on this case.”

    According to the indictment, Braga conspired with others to create a cryptocurrency trading platform called Trade Coin Club (TCC) with an office in Belize. As early as 2016, Braga worked with others to promote TCC, claiming that investors would make money because the TCC had a sophisticated software program that allowed investors to profit on the fluctuating price of bitcoin. Braga also promised that investors could make money by referring other investors to the platform. In reality, there was no investment platform and no sophisticated software. Those who invested early were paid off by later investors as in a Ponzi scheme.

    Braga traveled the world promoting TCC: In Thailand in March 2017, in Nigeria and Macau in May 2017.  TCC was promoted on social media and in videos. At various events Braga claimed TCC had as many as 126,000 members in 231 different countries.

    Through his false promises of sophisticated investments and high returns, Braga induced tens of thousands of people to entrust over 82,000 bitcoin, valued at over $290 million at the time of investment, and to deposit it with TCC. Braga continued the false representations, creating an “online portal” where investors could track the supposed activity of their investment accounts. The site was a fiction as there was no trading activity.

    Braga withdrew and misappropriated investor funds. Between December 2016 and July 2019, at least $50 million in bitcoin was transferred to accounts Braga controlled.

    However, by late 2017 and early 2018, investors had trouble accessing their funds. In January 2018, TCC announced to investors that it was ceasing to operate in the United States and was cancelling their accounts.  Many investors were located in the Western District of Washington.

    Braga allegedly profited handsomely, while failing to report the earnings to the IRS. In 2017, he received bitcoin worth $30.5 million, but only reported income of $152, 298. In 2018, he reported $73,473 in income but got $13.1 million in bitcoin and in 2019, reported $72,870 in income while he received $10 million in bitcoin.

    “The type of scheme Mr. Braga is charged with operating is not new, he just used the allure of a flashy new technology to obscure the well-worn scam.” said W. Mike Herrington, Special Agent in Charge of the FBI’s Seattle field office. “While the victims in this case waited and wondered about the fate of their investments, he siphoned off millions of dollars for his personal use. This case demonstrates the determination of the FBI and our partners in IRS Criminal Investigation to hold fraudsters accountable, no matter where in the world they may be.”

    “The charges against Mr. Braga and his co-conspirators reflect a well-designed scheme to solicit investment in a fake cryptocurrency trading platform from victims around the globe,” said Special Agent in Charge Tyler Hatcher of IRS-Criminal Investigation (CI), Los Angeles Field Office.  “Furthermore, Mr. Braga is alleged to have knowingly ignored and circumvented laws regulating multi-level marketing programs in the U.S.- laws that exist to protect investors from becoming victims in pyramid schemes.  Despite the complexity of this scheme, IRS Criminal Investigation and our partners at the FBI successfully uncovered the evidence necessary to bring forth these charges.”

    Braga is charged with 12 counts of wire fraud reflecting 12 wires investors sent to TCC for deposits in their “accounts.” Braga is charged with one count of conspiracy to commit wire fraud.

    The charges are punishable by up to 20 years in prison.

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

    The case was investigated by the IRS-CI and the FBI.

    The case is being prosecuted by Assistant United States Attorneys Mike Dion and Phillip Kopczynski. The U.S. Department of Justice’s Office of International Affairs provided valuable assistance with securing the extradition.

    MIL Security OSI –

  • MIL-OSI Security: Three New Haven Men Guilty of Charges Related to Counterfeit Pill Production, Narcotics Trafficking

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, today announced that a jury in Hartford has found AQUARIUS GUMBS, also known as “Q,” “Ice,” and “Diamond,” 50; GORDON LAURIA, 54; and MARKOS PAPPAS, also known as “Speedy,” 51; all of New Haven, guilty of offenses related to the large-scale trafficking of fentanyl and methamphetamine pills disguised as legitimate prescription medication, as well as other controlled substances.

    According to court documents and the evidence presented during the trial, this matter stems from an investigation by the DEA New Haven’s Tactical Diversion Squad and the FBI’s New Haven Safe Streets/Gang Task Force targeting the manufacture and distribution of counterfeit oxycodone tablets containing fentanyl and counterfeit Adderall tablets containing methamphetamine, and the distribution of heroin and cocaine, in the New Haven area.  The investigation revealed that Willis Taylor, with the assistance of Lauria, Pappas, Gumbs, and others, coordinated the manufacture and distribution of counterfeit narcotic pills.  Taylor distributed the pills to others and arranged counterfeit pill transactions between second and third parties, sometimes using Gumbs as a source of supply.  Gumbs also distributed controlled substances to his own customers.  After Taylor’s arrest in November 2022, Pappas conspired with others, including Lisa Fausel, of New Haven, to distribute controlled substances.

    During the investigation, investigators seized more than two kilograms of fentanyl, including thousands of counterfeit Oxycodone tablets; approximately two kilograms of methamphetamine, including thousands of counterfeit Adderall pills; three kilograms of cocaine and other drugs; four pill-press machines; one industrial mixer; five firearms; and more than $200,000 in cash.  Two of the firearms and $13,250 in cash were seized from Gumbs, a previously convicted felon, on November 18, 2022.

    Fourteen individuals were charged as a result of this investigation.

    Today, the jury found Lauria and Gumbs guilty of one count, and Pappas guilty of two counts, of conspiracy to possess with intent to distribute, and to distribute, controlled substances.  Gumbs was also found guilty of one count of possession with intent to distribute, and distribution of cocaine; one count of possession with intent to distribute marijuana; one count of possession of a firearm in furtherance of a drug trafficking crime, and one count of unlawful possession of a firearm by a felon.

    The jury found a fourth defendant, Julio Echevarria, of New Haven, not guilty of conspiracy to possess with intent to distribute, and to distribute, controlled substances.

    Gumbs, Lauria, and Pappas are detained pending sentencing, which is not scheduled.

    Taylor previously pleaded guilty and awaits sentencing.  On October 21, 2024, Fausel was sentenced to 42 months of imprisonment.

    This matter is being investigated by the DEA New Haven’s Tactical Diversion Squad, the FBI’s New Haven Safe Streets/Gang Task Force, Homeland Security Investigations (HSI), and the U.S. Marshals Service.  The DEA Tactical Diversion Squad is composed of personnel from the DEA, the Connecticut State Police, and the West Haven, Hamden, Manchester, Bristol, Fairfield, and Seymour Police Departments.  The FBI Task Force includes participants from the FBI, the Connecticut State Police, the Connecticut Department of Correction, and the New Haven, Milford, East Haven, West Haven, and Wallingford Police Departments. 

    The case is being prosecuted by Assistant U.S. Attorneys Ross Weingarten, John T. Pierpont, Jr., Konstantin Lantsman, and Katherine Boyles through the Organized Crime Drug Enforcement Task Forces (OCDETF) Program.  OCDETF identifies, disrupts, and dismantles drug traffickers, money launderers, gangs and transnational criminal organizations through a prosecutor-led and intelligence-driven approach that leverages the strengths of federal, state and local law enforcement agencies.  Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    MIL Security OSI –