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Category: Finance

  • MIL-OSI USA: California Department of Justice Investigating Monterey County Sheriff Officer-Involved Shooting Under AB 1506

    Source: US State of California

    Thursday, January 30, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

     **The information provided below is based on preliminary details regarding an ongoing investigation, which may continue to evolve**

    OAKLAND – California Attorney General Rob Bonta today announced that the California Department of Justice (DOJ), pursuant to Assembly Bill 1506 (AB 1506), is investigating and will independently review an officer-involved shooting (OIS) that occurred in Salinas, California on Wednesday, January 29, 2025 at approximately 1:30 p.m. The OIS incident resulted in the death of one individual and involved personnel from the Monterey County Sheriff’s Office. 

    Following notification by local authorities, DOJ’s California Police Shooting Investigation Team initiated an investigation in accordance with AB 1506 mandates. Upon completion of the investigation, it will be turned over to DOJ’s Special Prosecutions Section within the Criminal Law Division for independent review.

    More information on the California Department of Justice’s role and responsibilities under AB 1506 is available here: https://oag.ca.gov/ois-incidents.

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: Florida Businessman Indicted for Tax Evasion

    Source: US State of California

    A federal grand jury in Jacksonville, Florida, returned an indictment yesterday charging a Florida businessman with tax evasion, not filing a tax return and not paying taxes.

    According to the indictment, Phillip Mak, of Jacksonville, was a self-employed businessman who from 2008 through 2020 earned approximately $10.3 million in income. During that same period, Mak allegedly did not pay any federal taxes and, except for two years, did not file tax returns. The IRS allegedly assessed approximately $1.9 million in outstanding taxes, penalties and interest against Mak for tax years 2008, 2009, 2012-2015 and 2019-2020.

    Instead of paying what he owed, Mak allegedly attempted to shield his assets from the IRS by transferring $1 million in cash to his domestic partner’s bank accounts. In addition, the indictment alleges that Mak, after being interviewed by IRS investigators, transferred ownership of his home to his domestic partner’s trust, created a nominee entity and began depositing his income into a bank account held in the name of that entity.

    In total, Mak is alleged to have caused a tax loss to the IRS of more than $1.92 million.

    If convicted, Mak faces a maximum sentence of five years in prison for tax evasion and a maximum sentence of one year in prison for each charge of failure to file a tax return and failure to pay tax. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Roger B. Handberg for the Middle District of Florida made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorneys Isaiah Boyd and Michael Jones of the Tax Division and Assistant U.S. Attorney John Cannizzaro for the Middle District of Florida are prosecuting the case.

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

    MIL OSI USA News –

  • MIL-OSI USA: Duckworth Join Durbin, Schakowsky in Introducing Mentoring to Succeed Act

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth
    January 29, 2025
    [WASHINGTON, D.C.] – U.S. Senator Tammy Duckworth (D-IL) joined U.S. Senate Democratic Whip Dick Durbin (D-IL) and U.S. Senator Cory Booker (D-NJ) in introducing the Mentoring to Succeed Act in recognition of January as National Mentoring Month.  U.S. Representatives Jan Schakowsky (D-IL-09), Jesús “Chuy” García (D-IL-04) and Lori Trahan (D-MA-03) introduced companion legislation in the House earlier this week.  This legislation would create a strong, sustainable support system through mentorship to help ensure that children who experience barriers like poverty, disability, adverse childhood experiences or drug or alcohol abuse, can successfully transition to high school, college and the workforce.  The Mentoring to Succeed Act would strengthen investments in mentorship programs to help youth facing risk develop the academic, social and workforce skills that lead to success. 
    “Too many young people, particularly young people of color, don’t have access to the academic or economic opportunities that everyone deserves,” said Senator Duckworth.  “At the same time, too many struggle with violence in their communities and other obstacles that stifle their dreams and their ambitions.  Our nation’s children deserve a chance to reach their full potential, and mentoring programs have been proven to help students do just that.  I’m proud to join my colleagues in re-introducing this legislation to help ensure every child gets the guidance and resources they need to succeed in school, in the workforce and in life.”
    “Across Illinois and the country, young kids, especially from underserved communities, face obstacles like community violence and underfunded schools that have a dramatic impact on their ability to graduate from high school and transition to college and the workforce.  But with the guidance of a mentor, youth could lean on a trusted adult to help them navigate these challenges,” said Senator Durbin.  “I’m introducing the Mentoring to Succeed Act to ensure that our most vulnerable children have the opportunity to succeed and achieve their full potential with the guidance of a mentor.”
    “Across the country, young kids lack access to the resources they need to thrive academically and succeed post-graduation,” said Senator Booker.  “Mentorship programs have a proven track record of helping young people stay on track and achieve their dreams by providing a stable support system for the kids who don’t have one at home.  The Mentoring to Succeed Act will expand access to high quality, trauma-informed mentorship programs and help at-risk kids receive the help, support, and skills they need to pursue their aspirations.”
    “In celebration of National Mentoring Month, I am proud to reintroduce the Mentoring to Succeed Act in the House of Representatives,” said Congresswoman Schakowsky.  “Whether it be the gun violence epidemic, the ongoing threat of climate change, the rising cost of college education, or anything in-between, today’s students are dealing with a lot and deserve access to a support system.  The Mentoring to Succeed Act will give students that support system – through a mentor – helping them get the resources and support they need to thrive in school, the workforce, and beyond.”
    A study by MENTOR found that 70 percent of today’s young people could remember a time when they wanted a mentor for support but did not have one.  As a result, these youth missed out on the powerful effects of mentoring that have been shown to make a child more likely to enroll in college, participate regularly in sports and extracurricular activities, volunteer in their communities and hold leadership positions.  Researchers at the University of Chicago found that Youth Guidance’s school-based mentoring program, Becoming a Man, reduced rates of arrests for violent crime, improved school engagement and increased high school graduation rates.
    Mentoring programs help youth develop valuable workforce skills that employers are seeking and prepare young people for future apprenticeships, internships and workforce-based learning opportunities.  A 2024 study found that 84 percent of employers say job candidates must demonstrate social and emotional skills, such as communication and problem-solving—with the majority of employers stating that these types of skills were the most important.  The federal government can strengthen investments in mentoring programs to help youth facing significant barriers develop the academic, social and workforce skills that lead to success in career and life.
    The Mentoring to Succeed Act would:
    Invest in Mentoring Programs. Establish a three-year, competitive grant program that provides federal funding to establish, expand, or support mentoring programs.
    Help Youth Overcome Adversity and Trauma. Provide grant recipients with funding to train mentors in trauma-informed practices and interventions to increase resilience in youth and reduce juvenile justice involvement.
    Strengthen Workforce Readiness.  Support partnerships with local businesses and private companies to help youth facing risk with hands-on career training and career exploration.
    Close the Opportunity Gap.  Give preference to applicants that develop a plan to help prepare youth facing barriers for college and the workforce.
    Support Capacity Building.  Support partnerships with nonprofit, community-based, and faith-based organizations to increase the number of youth facing risk served.
    Enhance Youth Success.  Provide grant recipients with funding for program evaluation and identification of successful strategies.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: Crapo, Wyden Issue Discussion Draft to Improve IRS Administration

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington D.C.— U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Ron Wyden (D-Oregon) released a discussion draft of bipartisan legislation making an array of common-sense fixes to Internal Revenue Service (IRS) procedure and administration. 
    “As the tax filing season gets underway, this draft legislation suggests practical ways to improve the taxpayer experience,” Crapo and Wyden said. “These adjustments to the laws governing IRS procedure are designed to facilitate communication between the agency and taxpayers, streamline processes for tax compliance and disputes and ensure taxpayers have access to timely expert assistance.”    
    “This bipartisan draft bill, several years in the making, would significantly strengthen taxpayer rights in nearly every facet of tax administration,” said Erin Collins, the National Taxpayer Advocate.  “I encourage taxpayers and the tax professional community to carefully review the draft and provide feedback to refine it, and I encourage Congress to prioritize the passage of this common sense bill to ensure stronger protections for taxpayers and a more fair and transparent tax system.”
    The discussion draft includes policies that would:
    Require the IRS to improve “math error” notices so that taxpayers are better positioned to timely respond to them;
    Streamline review of offers-in-compromise to facilitate the taxpayers’ resolution of tax debts;
    Simplify foreign bank account report (FBAR) compliance so that fewer taxpayers will fail to file key forms;
    Clarify and expand Tax Court jurisdiction so that more taxpayers can pursue their claims in an appropriate venue;
    Expand the independence of the National Taxpayer Advocate (NTA) from the IRS;
    Increase civil and criminal penalties on tax professionals that deliberately take actions to harm their clients;
    Expand taxpayer access to the IRS Independent Office of Appeals;
    Extend the so-called “mailbox rule” to electronic submissions so that taxpayers have certainty their materials are submitted on time;
    Protect taxpayers by adopting reasonable standards and due process for issuing and revoking return preparer identification numbers (PTINs);
    Strengthen the IRS whistleblower program while protecting the confidentiality of taxpayer information;
    Protect hostages from unfair tax processes and penalties.
    Proposals in the discussion draft largely reflect nonpartisan legislative proposals recommended by the National Taxpayer Advocate, as well as standalone tax administrative bills introduced by congressional members.  The provisions are centered on seeking to reduce or eliminate challenges faced by taxpayers and other stakeholders within the current federal tax administrative system. 
    The text of the discussion draft is available here.
    A section-by-section of the legislation is available here.
    Comments on this discussion draft are requested by March 31, 2025, and can be sent to discussiondraft@finance.senate.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Tuberville: “America is facing a public health crisis; We must confirm Robert F Kennedy Jr.”

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)

    WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) penned an op-ed supporting President Trump’s nominee to be Secretary of Health and Human Services (HHS), Robert F. Kennedy Jr. Sen. Tuberville’s op-ed comes ahead of Kennedy’s hearing before the Senate Health, Education, Labor, and Pensions (HELP) Committee this morning. In the piece, Sen. Tuberville makes the case for why Robert F. Kennedy Jr. is the perfect person to end the chronic disease epidemic in this country and help Americans live longer, healthier lives.

    Read excerpts below or read the full op-ed here.

    “Despite his recent surge in popularity, RFK isn’t new to the scene when it comes to public health. For four decades, he worked in environmental law and in health care policy, specializing in issues like water pollution, vaccine efficacy, and food safety. He is an accomplished attorney who attended Harvard, the London School of Economics, and the University of Virginia.

    One of the most important things RFK has done is shine a light on the fact that we have a public health crisis in this country. As he said in his Senate Finance hearing earlier this week, over 70% of adults and one-third of our children are overweight or obese. The rate of diabetes is ten times more prevalent than it was in 1960. Cancer among our young people is rising by one or two percent each year. Autoimmune diseases, neurodevelopmental disorders, and addiction rates are on the rise—and meanwhile, more Americans are reliant on pharmaceutical drugs than ever before.

    To address some of these concerns, RFK Jr. has been an outspoken advocate for holistic, healthy living. As a result of his MAHA campaign, many Americans are now researching inexpensive and natural alternatives to medicine, which could end up saving taxpayers millions and helping Americans to live longer. While pharmaceuticals are certainly important and have saved millions of lives, we should also be looking to promote healthier lifestyles as part of our chronic disease prevention efforts.

    Both President Trump and RFK Jr. agree: the status quo isn’t working. Our national health agencies should be singularly focused on helping as many Americans be as healthy as possible. Health officials should want to heal our sick culture. Supporting transparency and consumer-choice in medications doesn’t make RFK anti-vax, anti-industry, or an enemy of food producers. He simply wants to help address America’s chronic disease epidemic. […]

    Sure, RFK may not be the typical pick for the job. But the American people issued a mandate in November: they want President Trump’s agenda, and that includes MAHA. As far as I’m concerned, RFK not being part of the health care establishment class is a good thing. Let’s answer the call of the American people by ushering in a New Golden Age of American Health.”

    MORE:

    Tuberville Joins Sen. Marshall in Launching Make America Healthy Again Caucus

    Tuberville, MAHA Caucus Celebrate FDA’s Decision to Ban Dangerous Red Dye No. 3 from Foods

    1819 News: Tuberville questions FDA over red dyes no. 40 and no. 3 in America’s food supply — ‘It’s not a conservative or a liberal standpoint’

    Tuberville Exposes Harmful Chemicals in American Food and Beverage Industry

    ICYMI: Tuberville Joins “National Report” on Newsmax

    Tuberville Meets with RFK Jr. and Todd Blanche

    Coach’s Monthly Column: All in for Trump’s America First nominees

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI Security: Florida Businessman Indicted for Tax Evasion

    Source: United States Attorneys General 10

    A federal grand jury in Jacksonville, Florida, returned an indictment yesterday charging a Florida businessman with tax evasion, not filing a tax return and not paying taxes.

    According to the indictment, Phillip Mak, of Jacksonville, was a self-employed businessman who from 2008 through 2020 earned approximately $10.3 million in income. During that same period, Mak allegedly did not pay any federal taxes and, except for two years, did not file tax returns. The IRS allegedly assessed approximately $1.9 million in outstanding taxes, penalties and interest against Mak for tax years 2008, 2009, 2012-2015 and 2019-2020.

    Instead of paying what he owed, Mak allegedly attempted to shield his assets from the IRS by transferring $1 million in cash to his domestic partner’s bank accounts. In addition, the indictment alleges that Mak, after being interviewed by IRS investigators, transferred ownership of his home to his domestic partner’s trust, created a nominee entity and began depositing his income into a bank account held in the name of that entity.

    In total, Mak is alleged to have caused a tax loss to the IRS of more than $1.92 million.

    If convicted, Mak faces a maximum sentence of five years in prison for tax evasion and a maximum sentence of one year in prison for each charge of failure to file a tax return and failure to pay tax. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Roger B. Handberg for the Middle District of Florida made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorneys Isaiah Boyd and Michael Jones of the Tax Division and Assistant U.S. Attorney John Cannizzaro for the Middle District of Florida are prosecuting the case.

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

    MIL Security OSI –

  • MIL-OSI: Enlight to Report Fourth Quarter and Full Year 2024 Financial Results on Wednesday, February 19, 2025

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, Jan. 30, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, today announced it will release its financial results for the fourth quarter and full year ended December 31, 2024, before market open on Wednesday, February 19, 2025.

    Conference Call Information

    Enlight will host a conference call to review its financial results and business outlook at 8:00 AM ET on Wednesday, February 19, 2025. Management will deliver prepared remarks followed by a question-and-answer session. Participants can join by conference call or webcast:

    Conference Call

    Please pre-register to join by conference call:
    https://register.vevent.com/register/BI9b595c26a5dc4208953cad5b9bb5f4e8
    Upon registering, you will be emailed a dial-in number, direct passcode and unique PIN.

    Webcast

    Please register and join by webcast: https://edge.media-server.com/mmc/p/74sp8fv8

    The press release with the financial results as well as the investor presentation materials will be accessible from the Company’s website prior to the conference call. Approximately one hour after completion of the live call, an archived version of the webcast will be available on the Company’s investor relations website at https://enlightenergy.co.il/info/investors/.

    About Enlight

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its US IPO (NASDAQ: ENLT) in 2023. Learn more at enlightenergy.co.il.

    Investor Contact

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; the potential impact of the current conflicts in Israel on our operations and financial condition and Company actions designed to mitigate such impact; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    The MIL Network –

  • MIL-OSI: The Victory Bancorp, Inc. Announces 2024 Fourth Quarter Earnings

    Source: GlobeNewswire (MIL-OSI)

    LIMERICK, Pa., Jan. 30, 2025 (GLOBE NEWSWIRE) — The Victory Bancorp, Inc. (OTCQX: VTYB), the holding company for The Victory Bank, today announced record growth and financial highlights for the year ended December 31, 2024.

    Financial Highlights for 2024:

    • Loan Growth: Loans increased by $26.6 million despite much higher interest rates and softening demand for loans, underlining the Bank’s commitment to a strong lending culture and continued investment in lending infrastructure.
    • Deposit Growth: Deposits grew by $33 million in 2024, driven by the bank’s focus on delivering exceptional customer service and focus on relationship banking.
    • Capital Acquisition: The Bancorp successfully issued $4.65 million of subordinated debt in the fourth quarter, of which $2.5 million was down-streamed to the bank to support growth initiatives and enhance capital strength.
    • Net consolidated earnings: Earnings rose by $83 thousand year-over-year in the fourth quarter. Compared to the third quarter, earnings remained stable, with a slight decrease from $586 thousand to $558 thousand. The return on average equity for the fourth quarter was 7.58%.
    • Book Value: Book value per common share remained nearly consistent, decreasing slightly from $14.89 in the third quarter to $14.84 in the fourth quarter. This stability reflects a solid foundation and demonstrates the company’s ability to maintain value per share despite market fluctuations.
    • Stockholders’ Equity: As of December 31, 2024, the company’s equity position grew by $1.4 million compared to the end of 2023.
    • Dividends: The bank paid a quarterly cash dividend of $0.065 per share; $0.26 per share for the calendar year

    Loan Quality Metrics: The bank maintained superior loan quality metrics that outperformed peers:

    • Losses to Average Loans at 0.0% as of December 31, 2024, compared to the peer average of 0.05% (as of September 30, 2024).
    • 30-89 Day Past Due Loans at 0.01%, significantly better than the peer average of 0.42%.
    • Non-Performing Loans at 0.05%, well below the peer average of 0.49%.

    Bank Leader, Joseph W. Major, stated, “The year 2024 has been a remarkable period of growth and achievement. Despite a challenging economic landscape, our team’s dedication and strategic initiatives have driven record results. The $26.7 million growth in our loan portfolio and $33 million increase in deposits underscore our ability to attract and retain high-value clients, and earnings showed substantial improvement based on improvements to net interest margin and overall balance sheet growth. Additionally, our successful capital acquisition strengthens our financial foundation and positions us for continued expansion.”

    “Our commitment to maintaining exceptional asset quality remains unwavering. The fact that our loan quality metrics significantly outperform peers is a testament to the vast experience of our lending and credit teams, our disciplined approach to risk management and our focus on long-term stability.”

    “We are excited about the future and remain committed to delivering exceptional value to our shareholders, clients, and communities.”

    Victory Bancorp, Inc. is traded on the OTCQX market under the symbol VTYB (https://www.otcmarkets.com) and is the parent company of The Victory Bank, a Pennsylvania state-chartered commercial bank, headquartered in Limerick, Pennsylvania, which is located just outside the Philadelphia market in Montgomery County. The Victory Bank was established in 2008 as a specialized business lender that provides high-quality banking services to small and mid-sized businesses and professionals through its three offices located in Montgomery and Berks Counties, Pennsylvania. Additional information about Victory Bancorp is available on its website, VictoryBank.com.

    This presentation may contain forward-looking statements (within the meaning of Private Securities Litigation Reform Act of 1995). Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values, and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and other economic; competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products, and services.

    Contact:
    Joseph W. Major    ,
    Chairman and Chief Executive Officer

    Robert H. Schultz,
    Chief Financial Officer, Chief Operating Officer

    Owen Magers
    Investor Relations
    484-791-3435

    The Victory Bancorp, Inc.
    548 N. Lewis Rd.
    Limerick, PA 19468

             
    CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)        
    (dollars in thousands, except per share data)            
        December 31,   September 30,   December 31,
    Selected Financial Data   2024   2024   2023
                 
    Investment securities $ 44,642   $ 46,110   $ 47,931  
                 
    Loans, net of allowance for loan losses   390,954     395,213     364,383  
                 
    Total assets   461,024     467,939     442,163  
                 
    Deposits   397,080     398,169     364,032  
                 
    Borrowings   15,440     24,692     36,200  
                 
    Subordinated debt   17,309     12,851     12,830  
                 
    Stockholders’ equity $ 29,337   $ 29,437   $ 27,948  
                 
    Book value per common share $ 14.84   $ 14.89   $ 14.17  
                 
    Allowance/loans   0.92 %   0.91 %   0.94 %
                 
    Nonperforming assets/total assets   0.05 %   0.04 %   0.49 %
                 
        3 Months Ended
        December 31,   September 30,
    		   December 31,
    Selected Operations Data   2024   2024   2023
                 
    Interest income $ 7,281   $ 7,526   $ 6,680  
                 
    Interest expense   3,886     4,064     3,337  
                 
    Net interest income   3,395     3,462     3,343  
                 
    Provision for loan losses   (32 )   71     170  
                 
    Other income   299     239     210  
                 
    Other expense   3,000     2,895     2,748  
                 
    Income before income taxes   726     735     635  
                 
    Income taxes   (168 )   (149 )   (160 )
                 
    Net income $ 558   $ 586   $ 475  
    Earnings per common share (basic) $ 0.28   $ 0.30   $ 0.24  
                 
    Earnings per common share (diluted) $ 0.28   $ 0.29   $ 0.23  
                 
    Return on average assets (annualized)   0.48 %   0.50 %   0.45 %
                 
    Return on average equity (annualized)   7.58 %   8.14 %   6.97 %
                 
    Net charge-offs (recoveries)/average loans   0.00 %   0.00 %   0.00 %

    The MIL Network –

  • MIL-OSI: Baker Hughes Secures Significant Gas Technology Order for Third Expansion Phase of Aramco’s Jafurah Gas Field

    Source: GlobeNewswire (MIL-OSI)

    • Contract awarded by Tecnicas Reunidas for six gas compression trains and six propane compressors, including balance of plants and auxiliaries
    • State-of-the-art technologies to support third expansion phase of the largest unconventional gas field in Saudi Arabia

    HOUSTON and LONDON, Jan. 30, 2025 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday it has been awarded an order by Tecnicas Reunidas for six gas compression trains and six propane compressors, for the third expansion phase of Aramco’s Jafurah gas field, located in the Kingdom of Saudi Arabia. The order was booked in the fourth quarter of 2024.

    Building on its broad experience in providing technology solutions for the entire natural gas value chain, Baker Hughes will supply state-of-the-art electric motor driven compression solutions, leveraging its recently expanded Damman Center in Dammam, Saudi Arabia. This order adds to Baker Hughes’ long-standing partnership with Aramco, which includes the supply of compression solutions for the Haradh and Hawiyah gas plants, first phase of the Jafurah gas plant and gas compression facilities, and more recently, equipment for the third phase of Saudi Arabia’s Master Gas System project.

    “Gas continues to serve as a vital source of reliable, abundant and lower-carbon energy,” said Ganesh Ramaswamy, executive vice president of Industrial & Energy Technology at Baker Hughes. “Our advanced gas compression technology will enable efficient and reliable production from the Jafurah field, further supporting Aramco’s vision and contributing to Saudi Arabia’s energy development.”

    About Baker Hughes
    Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

    For more information, please contact:

    Media Relations
    Chiara Toniato
    +39 3463823419
    chiara.toniato@bakerhughes.com

    Baker Hughes Investor Relations
    Chase Mulvehill
    +1 346-297-2564
    investor.relations@bakerhughes.com

    The MIL Network –

  • MIL-OSI USA: Durbin Delivers Opening Statement In Senate Judiciary Committee Hearing For President Trump’s Pick To Be FBI Director, Kash Patel

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    January 30, 2025
    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, today delivered an opening statement during the Senate Judiciary Committee nomination hearing for Kash Patel, President Trump’s nominee to lead the Federal Bureau of Investigation (FBI).
    Key Quotes:
    “Mr. Patel has neither the experience, the temperament, nor the judgment to lead an agency of 38,000 [people] and 400 field offices around the globe. During the time I’ve served on this Committee, I’ve had the opportunity to consider four prior FBI Director nominations. Each one was a Republican, and I voted for all of them. So, my concerns about the Director of the FBI are not partisan.”
    “As much as Republicans claim that President Biden and former Attorney General Garland weaponized the FBI, let’s look at the record: President Biden kept the FBI Director, a lifelong Republican who had been appointed by President Trump. Contrast that with President Trump, who fired his first FBI Director, James Comey, and forced out his second FBI Director, Chris Wray, for being insufficiently loyal. With Mr. Patel, obviously the President has found a loyalist.”
    “Mr. Patel’s loyalty includes touting conspiracy theories and threaten[ing to go after President Trump’s enemies.] How do we know Mr. Patel’s theories? His beliefs, what motivates him, and what he really believes? He wrote it in a book. The book [is titled] Government Gangsters, and I urge all of you to read [it] before you cast a vote for [him]. In it, Mr. Patel has published an enemies list of 60 people who he calls, ‘members of the deep state.’ This list includes many distinguished public servants who have dedicated their lives to our nation.” 
    “Then there is Mr. Patel’s plan to ‘shut down the F.B.I. Hoover Building on Day 1 and reopen it the next day as a museum of the ‘deep state.’’ And he has said, ‘We’re going to come after the people in the media, we’re going to come after you, whether it’s criminally or civilly, [and] we’re putting you all on notice.’”
    “Does this sound like the kind of nonpartisan, law enforcement professional who should lead the FBI? Not to me. This is someone who has left behind a trail of grievances throughout his life, lashing out at anyone who disrespects him or doesn’t agree with him.”
    “Mr. Patel’s record is clear: he traffics in debunked conspiracy theories that serve or benefit his political beliefs. Let’s start with January 6… I will always be grateful to the U.S. Capitol police officers who risked their lives defending me, members of Congress, and visitors of the United States Capitol on that day. Mr. Patel posted on social media, ‘Jan. 6 never an insurrection: cowards in uniform exposed.’ Let me repeat that. ‘Cowards in uniform.’ Who was in the Capitol building on January 6 in uniform—the Capitol Police were. Do you think they were cowards?… And Mr. Patel claims that the FBI, the agency he aspires to lead, ‘was planning January 6 for a year.’ Mr. Patel has gone so far as to co-produce and sell musical recordings of a song performed by January 6 rioters who violently assaulted police officers.”
    “The FBI plays a critical role in keeping Americans safe from terrorism, violent crime, and other threats. Our nation needs an FBI Director who understands the gravity of this mission and is ready on day one, not someone who is consumed by his own personal political grievances. The American people deserve an FBI Director who is focused on keeping the public safe from terrorism, drug trafficking, and violent crime, not the checklist of personal grievances we find in this book. Mr. Patel, your record makes clear that you are not that person.”
      
    Video of Durbin’s opening statement is available here.
    Audio of Durbin’s opening statement is available here.
    Footage of Durbin’s opening statement is available here for TV Stations.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: Apply Now for Colorado’s Free Universal Preschool: Early February Deadlines for 2025-26 Enrollment

    Source: US State of Colorado

    DENVER — Colorado families continue shaping history, with more than 19,000 applications already submitted for Colorado Universal Preschool’s 2025-26 enrollment. This nationally recognized program provides up to 15 hours of free, high-quality preschool weekly for children in their pre-kindergarten year, with additional hours available for qualifying families. 

    “Free preschool is saving Coloradans an average of $6,100 every year while giving students the best possible start. We are thrilled that so many families have already signed up for the next school year to better prepare their child for success,” said Governor Jared Polis. 

    “Colorado’s Universal Preschool Program is transforming lives and has propelled Colorado from 27th to 7th in preschool enrollment across the nation,” said Dr. Lisa Roy, Executive Director of the Colorado Department of Early Childhood. “With over 85,600 children served in just two years, now is the time for all eligible families to apply for the upcoming school year.” 

    Key Enrollment Deadlines 

    • Feb. 5: First family-to-provider matching round deadline. Families applying by this date increase their chances of securing a top-choice preschool. 
    • Feb. 3: Pre-registration deadline for families continuing care with a participating provider, with a sibling enrolled, or with a family member employed by a provider. 
    • March 5: Final matching round deadline. After this, families can directly enroll with providers as space allows. 

    Colorado’s innovative enrollment process provides multiple pathways, including pre-registration, general registration, and direct enrollment. Families can choose from diverse settings—home-based, school-based, or community-based—to find the best fit for their child. Families can check to see when they are eligible based on their district’s kindergarten eligibility dates, using this Age Eligibility Lookup Tool. 

    Program Director Dawn Odean said, “With one in three eligible children enrolled for the upcoming year and a history of matching 90% of families with their first or second choice, it’s exciting to see that our continuous improvement and strong partnerships across the state are delivering real results for families.” 

    How to Apply Families 

    can easily apply online and explore resources at UPK.Colorado.Gov. 

    For support: 💻
    Visit: Help.Upk.Colorado.Gov 
    📧Email: universalpreschool@state.co.us 
    📲Call: 303-866-5223 (Monday–Friday, 8 a.m.–8 p.m. MST). 

    Interpreters available in 100+ languages. 

    Early Education: A Critical Investment in Colorado’s Future 

    “Investing in high-quality early education is one of the most impactful steps we can take,” said Dr. Lisa Roy, Executive Director of the Colorado Department of Early Childhood. “With 90% of brain development occurring by age five, preschool helps build essential skills for lifelong success, from early literacy to social-emotional growth. Colorado families: Don’t wait! Apply today to give your child the best possible start in this nationally celebrated program. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Cracked and Nulled Marketplaces Disrupted in International Cyber Operation

    Source: US State of California

    At Least 17M U.S. Victims Affected

    The Justice Department today announced its participation in a multinational operation involving actions in the United States, Romania, Australia, France, Germany, Spain, Italy, and Greece to disrupt and take down the infrastructure of the online cybercrime marketplaces known as Cracked and Nulled. The operation was announced in conjunction with Operation Talent, a multinational law enforcement operation supported by Europol to investigate Cracked and Nulled.

    Operation Talent Seizure Banner

    Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division, U.S. Attorney Trini E. Ross for the Western District of New York, U.S. Attorney Jaime Esparza for the Western District of Texas, Assistant Director Brian A. Vorndran of the FBI’s Cyber Division, Special Agent in Charge Matthew Miraglia of the FBI Buffalo Field Office, and Special Agent in Charge Aaron Tapp for the FBI San Antonio Field Office made the announcement.

    Cracked

    According to seizure warrants unsealed today, the Cracked marketplace has been selling stolen login credentials, hacking tools, and servers for hosting malware and stolen data — as well as other tools for carrying out cybercrime and fraud — since March 2018. Cracked had over four million users, listed over 28 million posts advertising cybercrime tools and stolen information, generated approximately $4 million in revenue, and impacted at least 17 million victims from the United States. One product advertised on Cracked offered access to “billions of leaked websites” allowing users to search for stolen login credentials. This product was recently allegedly used to sextort and harass a woman in the Western District of New York. Specifically, a cybercriminal entered the victim’s username into the tool and obtained the victim’s credentials for an online account. Using the victim’s credentials, the subject then cyberstalked the victim and sent sexually demeaning and threatening messages to the victim. The seizure of these marketplaces is intended to disrupt this type of cybercrime and the proliferation of these tools in the cybercrime community.

    The FBI, working in coordination with foreign law enforcement partners, identified a series of servers that hosted the Cracked marketplace infrastructure and eight domain names used to operate Cracked. They also identified servers and domain names for Cracked’s payment processor, Sellix, and the server and domain name for a related bulletproof hosting service. All of these servers and domain names have been seized pursuant to domestic and international legal process. Anyone visiting any of these seized domains will now see a seizure banner that notifies them that the domain has been seized by law enforcement authorities.

    The FBI Buffalo Field Office is investigating the case.

    Senior Counsel Thomas Dougherty of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) and Assistant U.S. Attorney Charles Kruly for the Western District of New York are prosecuting the case.

    Nulled

    The Justice Department announced the seizure of the Nulled website domain and unsealed charges against one of Nulled’s administrators, Lucas Sohn, 29, an Argentinian national residing in Spain. According to the unsealed complaint affidavit, the Nulled marketplace has been selling stolen login credentials, stolen identification documents, hacking tools, as well as other tools for carrying out cybercrime and fraud, since 2016. Nulled had over five million users, listed over 43 million posts advertising cybercrime tools and stolen information, and generated approximately $1 million in yearly revenue. One product advertised on Nulled purported to contain the names and social security numbers of 500,000 American citizens.

    The FBI, working in coordination with foreign law enforcement partners, identified the servers that hosted the Nulled marketplace infrastructure, and the domain used to operate Nulled. The servers and domain have been seized pursuant to domestic and international legal process. Anyone visiting the Nulled domain will now see a seizure banner that notifies them that the domain has been seized by law enforcement authorities.

    According to the complaint, Sohn was an active administrator of Nulled and performed escrow functions on the website. Nulled’s customers would use Sohn’s services to complete transactions involving stolen credentials and other information. For his actions, Sohn has been charged with conspiracy to traffic in passwords and similar information through which computers may be accessed without authorization; conspiracy to solicit another person for the purpose of offering an access device or selling information regarding an access device; and conspiracy to possess, transfer, or use a means of identification of another person with the intent to commit or to aid and abet or in connection with any unlawful activity that is a violation of federal law.

    If convicted, Sohn faces a maximum penalty of five years in prison for conspiracy to traffic in passwords, 10 years in prison for access device fraud, and 15 years in prison for identity fraud.

    The FBI Austin Cyber Task Force is investigating the case. The Task Force participants include the Naval Criminal Investigative Service, IRS Criminal Investigation, Defense Criminal Investigative Service, and the Department of the Army Criminal Investigation Division, among other agencies.

    Assistant U.S. Attorneys G. Karthik Srinivasan and Christopher Mangels for the Western District of Texas are prosecuting the case, with Assistant U.S. Attorney Mark Tindall for the Western District of Texas handling the forfeiture component.

    The Justice Department worked in close cooperation with investigators and prosecutors from several jurisdictions on the takedown of both the Cracked and Nulled marketplaces, including the Australian Federal Police, Europol, France’s Anti-Cybercrime Office (Office Anti-cybercriminalité) and Cyber Division of the Paris Prosecution Office, Germany’s Federal Criminal Police Office (Bundeskriminalamt) and Prosecutor General’s Office Frankfurt am Main – Cyber Crime Center (Generalstaatsanwaltschaft Frankfurt am Main – ZIT), the Spanish National Police (Policía Nacional) and Guardia Civil, the Hellenic Police (Ελληνική Αστυνομία), Italy’s Polizia di Stato and the General Inspectorate of Romanian Police (Inspectoratul General al Poliției Romane). The Justice Department’s Office of International Affairs provided significant assistance.

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

    MIL OSI USA News –

  • MIL-OSI Security: Venezuelan Man Charged with Being in the United States Illegally After Having Been Previously Removed by Immigration Officials

    Source: Office of United States Attorneys

    Burlington, Vermont – The United States Attorney’s Office for the District of Vermont stated that Jorge Humberto Moreno Martinez, 34, of Venezuela, has been charged by criminal complaint with being unlawfully present in the United States after having been previously removed by immigration officials.

    On January 28, 2025, Moreno appeared before United States Magistrate Judge Kevin J. Doyle, who ordered that Moreno be detained during the pendency of this matter.

    According to court records, Moreno was previously removed from the United States by immigration officials on November 15, 2016, after he completed a three-and-a-half-year prison sentence following his New York felony conviction for burglary in the second degree. At that time, Moreno was advised and acknowledged that due to his criminal history he was prohibited from entering or attempting to enter the United States. Despite that warning, Moreno re-entered the United States and his presence in the country thereafter was in violation of U.S. law.

    Court records also state that when agents from the Department of Homeland Security attempted to arrest Moreno at a parking lot in Williston, Vermont, on January 27, 2025, Moreno fled in a vehicle, hitting three law enforcement vehicles before travelling at more than 100 miles per hour on a busy street before he was apprehended. As he drove, items were discarded from Moreno’s vehicle. Law enforcement recovered some of those items, which tested presumptively positive for cocaine base and cocaine.

    The United States Attorney’s Office emphasizes that the complaint contains allegations only and that Moreno is presumed innocent until and unless proven guilty. Moreno faces up to 20 years’ incarceration if convicted. The actual sentence, however, would be determined by the District Court with guidance from the advisory United States Sentencing Guidelines and the statutory sentencing factors.

    Acting United States Attorney Michael P. Drescher commended the investigatory efforts of the United States Department of Homeland Security, including its Homeland Security Investigations (“HSI”), Enforcement and Removal Operations (“ERO”), and U.S. Customs and Border Protection (CBP”) divisions, with assistance from the United States Drug Enforcement Administration (“DEA”).

    The prosecutor is Assistant United States Attorney Colin Owyang. Moreno is represented by Brooks McArthur, Esq.

    MIL Security OSI –

  • MIL-OSI Security: MEXICAN NATIONAL RESIDING IN GEORGIA CHARGED WITH ATTEMPTED PRODUCTION OF CHILD PORNOGRAPHY AND ATTEMPTED TRANSFER OF OBSCENE MATERIAL TO A MINOR

    Source: Office of United States Attorneys

    United States Attorney Ronald C. Gathe, Jr. announced that a federal grand jury recently returned a two-count indictment charging Victorino De La Cruz, age 42, of Mableton, Georgia, with attempted production of child pornography and attempted transfer of obscene material to a minor. De La Cruz appeared for his arraignment and pled not guilty to the pending charges.

    According to the indictment, between August 8, 2024 and November 22, 2024, De La Cruz knowingly attempted to employ, use, persuade, entice, and coerce an individual he believed was a minor to engage in sexually explicit conduct for the purpose of producing child pornography. Additionally, according to the indictment, on August 11, 2024, De La Cruz, using a means of interstate commerce, knowingly attempted to transfer obscene material to an individual he believed had not attained the age of 16 years old.

    Attempted production of child pornography is punishable by a maximum penalty of 15 – 30 years in prison, depending on sentencing enhancements. Attempted transfer of obscene material to a minor is punishable by a maximum penalty of 10 years in prison. De La Cruz also faces potential sex offender registration, supervised release, restitution, and monetary penalties.

    This matter is being investigated by the Federal Bureau of Investigation and U.S. Immigration and Customs Enforcement and is being prosecuted by Assistant United States Attorney Benjamin Anderson.

    NOTE: An indictment is an accusation by a grand jury. The defendant is presumed innocent until and unless adjudicated guilty at trial or through a guilty plea.

    MIL Security OSI –

  • MIL-OSI: Mitsubishi HC Capital America Shares Predictions for 2025 in the Equipment Finance Industry

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Jan. 30, 2025 (GLOBE NEWSWIRE) — With the start of a year that is expected to have less inflation, monetary easing and more economic growth, Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, has outlined six key predictions that are likely to play a significant role in shaping the equipment finance industry in 2025.

    “The convergence of economic shifts and technological advancements in 2024 has created a unique financing landscape for 2025,” said Brian Rosa, President of Commercial Finance for Mitsubishi HC Capital America. “While many organizations may take a measured approach initially, we’re seeing that those who strategically leverage financing solutions – particularly for technology and sustainability initiatives – are positioning themselves for significant growth.”

    1. Banks pull back on small business lending

    Recent Federal Reserve data shows bank lending to small businesses dropped by 18% in 2024. However, the U.S. Chamber of Commerce reports 60% of small businesses plan to make significant capital investments in 2025, up from 42% two years ago.

    This divergence creates both challenges and opportunities for small businesses looking to secure financing in 2025. Small business owners should partner with independent lenders for creative and flexible financing options to stay competitive and thrive in the new year.

    2. AI and supercomputing needs will need financing support

    Much like the infinite nature of the scale that supercomputing projects offer the world, financing these projects feels equally as infinite. Large scale computing projects involving AI or cloud computing will become more frequent and larger in 2025 and in the years to come. Driven by hyperscalers and other large companies, these projects require a significant amount of time, capital and energy to complete. “Financing models that can support project completion and scale as the project grows will be a necessary lever for tech companies to support these projects,” adds Rosa.

    3. Technology enables new financing models and competitive advantage

    “Advancements in technology are revolutionizing equipment financing through enhanced usage analytics and “as-a-service” models,” explains Rosa. “Advanced IoT and telematics now provide real-time analytics and insights, enabling both financing providers and customers to make faster, more informed decisions about equipment utilization.”

    This technology allows lenders to develop more competitive rates based on actual usage patterns, while creating new opportunities for usage-based financing structures. Beyond basic implementation, organizations that can creatively apply these technological capabilities to develop innovative financing solutions will gain a competitive edge. The winners, he says, will be those who can leverage these tools to identify market trends faster and develop flexible financing arrangements that align with true operational needs.

    4. High inventory levels will make rentals attractive

    The flexibility of short-term leases and equipment rental opportunities are helping organizations take advantage of higher inventory levels and use new technology without a large payment or significant operating expense.

    Rosa explains, “Short-term leases provide organizations with more flexibility, and the financing landscape is evolving to support this trend.” He further says that the increasing popularity of these financing models will help organizations more accurately budget for a project, allowing them to buy the equipment they need without restricting their up-front cash flow. With an increase in demand for projects and an influx of equipment that is available, Rosa projects it will be less expensive and more flexible for companies to rent equipment.

    5. Business case for sustainability remains strong

    In recent years, both U.S. and Canadian governments and corporations have pulled back on sustainability initiatives. However, the business case for sustainability remains strong and we expect corporations to continue to fund sustainability programs, says Rosa.

    He adds, “Prioritizing sustainability initiatives that have a direct business case will aid organizations in making an impact not just on the world, but also their bottom line. From financing electric vehicle projects to supporting more sustainable manufacturing in supply chains, environmentally friendly investments will drive shareholder returns on clean energy targets.”

    6. Shifting Political Dynamics in the U.S. and Canada
    New leadership in the U.S. with talks of international tariffs, along with a very fluid political environment in Canada, will impact both countries in 2025, predicts Rosa. He expects governments in both countries to take a cautious approach to determine the next steps with rate cuts as economic data is released.

    “Organizations that position themselves to take advantage of new regulations or seize new opportunities quickly will be well suited in 2025,” Rosa anticipates.

    About Mitsubishi HC Capital America

    Mitsubishi HC Capital America is a commercial finance company that has extensive capabilities throughout North America with its affiliate, Mitsubishi HC Capital Canada, combining a consultative approach and expansive digital platform to help organizations of all sizes accelerate growth. With $7.5 billion in assets and more than 800 employees, the company is the largest non-captive, non-bank commercial finance company in North America. Mitsubishi HC Capital America partners with equipment manufacturers, dealers, and distributors, as well as end customers, in providing customized financial solutions, including transportation and commercial finance. Dedicated to improving the communities where it operates, the company is committed to the United Nations Sustainable Development Goals. Visit Mitsubishi HC Capital America for more information.

    The MIL Network –

  • MIL-OSI Global: If we listen to how Gen Z really feel about democracy they might stop telling us they prefer authoritarianism

    Source: The Conversation – UK – By Melissa Butcher, Professor Emeritus, Social and Cultural Geography, Royal Holloway University of London

    New research from broadcaster Channel 4 reveals a troubling trend towards support for authoritarianism among young people in the UK. The report “Gen Z: Trends, Truth and Trust” found that 52% of the 2,000 13-27 year olds surveyed would agree that “the UK would be better with a strong leader in charge who does not have to bother with Parliament and elections”.

    This correlates with a 2023 study from pro-democracy organisation Open Society Foundations, which found 42% of young people in its global sample felt military rule was a good way of running a country. Other research has found a disillusionment with democracy among young people.

    These are trends to be worried about. But Gen Z are not somehow inherently anti-democratic. Understanding why these trends are happening is vital if young people are to participate in democracy.

    At Cumberland Lodge, an education charity that uses dialogue to address social division and conflict, I’m working with colleagues and young people on a nationwide youth and democracy network to re-think what politics in the UK could look like.

    Hearing Gen Z

    Our team has conducted 12 discussion groups with 101 young people around the country, looking at what stops them getting involved with democratic practices and institutions. Using this research as a starting point, we are now working with a core group of young people to develop their capacities to engage with, and re-imagine democracy.

    What we are learning is that young people’s disengagement is not necessarily a sign of apathy or anti-democratic tendencies. The young people we are working with want to engage with politics, but they feel a vast sense of distrust. They see politicians as prioritising their own and corporate interests over public good, and willing to break promises on issues that affect young people’s lives.

    Feeling unsupported by their political system makes young people feel vulnerable – especially in the face of a multitude of global crises. In their lifetime, the world has lurched from a global financial crisis to a worldwide pandemic and to war in Europe. They have to navigate housing shortages, a lack of mental health support, the climate emergency, artificial intelligence and changing identity and social roles.

    A perception of an “elite” system that is supposed to work for everyone, but excludes or even actively works against the sectors of society most affected by these crises, harms young people’s trust in democracy.

    Gen Z deal with an onslaught of information about a rapidly changing world.
    DimaBerlin/Shutterstock

    But a shift towards support for authoritarianism is by no means inevitable. The Open Society Foundations study found that 86% of young people surveyed still wanted to live in a democracy.

    In Channel 4’s research, too, 73% of Gen Z think democracy is a “very” or “fairly good” way of governing the UK. And young people want to learn about democracy and the democratic process.

    Our youth and democracy network shows young people are not apathetic. Many want to get involved. They want a better, fairer world. They see the shortcomings of the current system and imagine something better.

    Getting young people involved

    To enable this to happen, political and media literacy is crucial for providing young people with necessary knowledge and confidence. Investment in education on democracy is necessary, as many young people in our network wanted to engage but felt overwhelmed and uncertain about where to start. Liam in Sunderland said:

    Most people our age aren’t educated on [democracy and politics]. It’s restricted knowledge. We’re given the impression that we can’t do anything about it anyway, so just don’t worry.

    Young people want representatives who understand and engage with the day-to-day realities of their lives, rather than seeing Gen Z as a photo opportunity, as Chloe from Liverpool argued.

    They’ll come here and they’ll speak to us, but they’re not coming there to listen; they’re coming here so they can go back to wherever they came from and be like ‘oh I spoke to a young person’.

    Many of the young people in our youth network are calling for reform of the political system in order to facilitate these changes: a new voting system, or an exploration of forms of direct democracy.

    But importantly, what we have seen in this research over the last year, is that young people can shift how they view power. We think of democracy as more than just systems of governance, but it’s also how we organize, how we communicate with each other, how we mobilise around social issues, and how we build consensus.

    In this sense democracy is not solely something external and out of reach but something that can emerge when young people come together.

    By working to improve democratic education and to put a system in place that listens to and engages with young people, politicians can help Gen Z re-imagine a democracy that gives them a future. At that point, they might stop telling researchers that they prefer authoritarianism.

    Melissa Butcher is a member of the Green Party.

    – ref. If we listen to how Gen Z really feel about democracy they might stop telling us they prefer authoritarianism – https://theconversation.com/if-we-listen-to-how-gen-z-really-feel-about-democracy-they-might-stop-telling-us-they-prefer-authoritarianism-248628

    MIL OSI – Global Reports –

  • MIL-OSI Security: Cracked and Nulled Marketplaces Disrupted in International Cyber Operation

    Source: United States Attorneys General 2

    At Least 17M U.S. Victims Affected

    The Justice Department today announced its participation in a multinational operation involving actions in the United States, Romania, Australia, France, Germany, Spain, Italy, and Greece to disrupt and take down the infrastructure of the online cybercrime marketplaces known as Cracked and Nulled. The operation was announced in conjunction with Operation Talent, a multinational law enforcement operation supported by Europol to investigate Cracked and Nulled.

    Operation Talent Seizure Banner

    Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division, U.S. Attorney Trini E. Ross for the Western District of New York, U.S. Attorney Jaime Esparza for the Western District of Texas, Assistant Director Brian A. Vorndran of the FBI’s Cyber Division, Special Agent in Charge Matthew Miraglia of the FBI Buffalo Field Office, and Special Agent in Charge Aaron Tapp for the FBI San Antonio Field Office made the announcement.

    Cracked

    According to seizure warrants unsealed today, the Cracked marketplace has been selling stolen login credentials, hacking tools, and servers for hosting malware and stolen data — as well as other tools for carrying out cybercrime and fraud — since March 2018. Cracked had over four million users, listed over 28 million posts advertising cybercrime tools and stolen information, generated approximately $4 million in revenue, and impacted at least 17 million victims from the United States. One product advertised on Cracked offered access to “billions of leaked websites” allowing users to search for stolen login credentials. This product was recently allegedly used to sextort and harass a woman in the Western District of New York. Specifically, a cybercriminal entered the victim’s username into the tool and obtained the victim’s credentials for an online account. Using the victim’s credentials, the subject then cyberstalked the victim and sent sexually demeaning and threatening messages to the victim. The seizure of these marketplaces is intended to disrupt this type of cybercrime and the proliferation of these tools in the cybercrime community.

    The FBI, working in coordination with foreign law enforcement partners, identified a series of servers that hosted the Cracked marketplace infrastructure and eight domain names used to operate Cracked. They also identified servers and domain names for Cracked’s payment processor, Sellix, and the server and domain name for a related bulletproof hosting service. All of these servers and domain names have been seized pursuant to domestic and international legal process. Anyone visiting any of these seized domains will now see a seizure banner that notifies them that the domain has been seized by law enforcement authorities.

    The FBI Buffalo Field Office is investigating the case.

    Senior Counsel Thomas Dougherty of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) and Assistant U.S. Attorney Charles Kruly for the Western District of New York are prosecuting the case.

    Nulled

    The Justice Department announced the seizure of the Nulled website domain and unsealed charges against one of Nulled’s administrators, Lucas Sohn, 29, an Argentinian national residing in Spain. According to the unsealed complaint affidavit, the Nulled marketplace has been selling stolen login credentials, stolen identification documents, hacking tools, as well as other tools for carrying out cybercrime and fraud, since 2016. Nulled had over five million users, listed over 43 million posts advertising cybercrime tools and stolen information, and generated approximately $1 million in yearly revenue. One product advertised on Nulled purported to contain the names and social security numbers of 500,000 American citizens.

    The FBI, working in coordination with foreign law enforcement partners, identified the servers that hosted the Nulled marketplace infrastructure, and the domain used to operate Nulled. The servers and domain have been seized pursuant to domestic and international legal process. Anyone visiting the Nulled domain will now see a seizure banner that notifies them that the domain has been seized by law enforcement authorities.

    According to the complaint, Sohn was an active administrator of Nulled and performed escrow functions on the website. Nulled’s customers would use Sohn’s services to complete transactions involving stolen credentials and other information. For his actions, Sohn has been charged with conspiracy to traffic in passwords and similar information through which computers may be accessed without authorization; conspiracy to solicit another person for the purpose of offering an access device or selling information regarding an access device; and conspiracy to possess, transfer, or use a means of identification of another person with the intent to commit or to aid and abet or in connection with any unlawful activity that is a violation of federal law.

    If convicted, Sohn faces a maximum penalty of five years in prison for conspiracy to traffic in passwords, 10 years in prison for access device fraud, and 15 years in prison for identity fraud.

    The FBI Austin Cyber Task Force is investigating the case. The Task Force participants include the Naval Criminal Investigative Service, IRS Criminal Investigation, Defense Criminal Investigative Service, and the Department of the Army Criminal Investigation Division, among other agencies.

    Assistant U.S. Attorneys G. Karthik Srinivasan and Christopher Mangels for the Western District of Texas are prosecuting the case, with Assistant U.S. Attorney Mark Tindall for the Western District of Texas handling the forfeiture component.

    The Justice Department worked in close cooperation with investigators and prosecutors from several jurisdictions on the takedown of both the Cracked and Nulled marketplaces, including the Australian Federal Police, Europol, France’s Anti-Cybercrime Office (Office Anti-cybercriminalité) and Cyber Division of the Paris Prosecution Office, Germany’s Federal Criminal Police Office (Bundeskriminalamt) and Prosecutor General’s Office Frankfurt am Main – Cyber Crime Center (Generalstaatsanwaltschaft Frankfurt am Main – ZIT), the Spanish National Police (Policía Nacional) and Guardia Civil, the Hellenic Police (Ελληνική Αστυνομία), Italy’s Polizia di Stato and the General Inspectorate of Romanian Police (Inspectoratul General al Poliției Romane). The Justice Department’s Office of International Affairs provided significant assistance.

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

    MIL Security OSI –

  • MIL-OSI Security: U.S. Attorney’s Office Announces Sentencing in Shiprock Fatal Stabbing

    Source: Office of United States Attorneys

    ALBUQUERQUE – A Shiprock man was sentenced to 23 years in federal prison today for the fatal stabbing of John Doe at a gas station in Shiprock, New Mexico in 2021.

    There is no parole in the federal system.

    According to court documents, on October 24, 2021, following a night of drinking and socializing with friends, Marc Gene Clark, 47, an enrolled member of the Navajo Nation, confronted John Doe in the parking lot of a gas station. During the confrontation and without provocation, Clark stabbed Doe with a knife, resulting in significant blood loss and ultimately leading to Doe’s death later that day.

    Surveillance video footage captured the stabbing. Clark was subsequently arrested at a nearby laundromat by officers from the Navajo Nation Police Department, and the knife used in the stabbing was found in his possession.

    Upon his release from prison, Clark will be subject to five years of supervised release.

    U.S. Attorney Alexander M.M. Uballez and Raul Bujanda, Special Agent in Charge of the Federal Bureau of Investigation, made the announcement today.

    The Farmington Resident Agency of the FBI Albuquerque Field Office investigated this case with assistance from the Navajo Police Department and Department of Criminal Investigations. Assistant United States Attorneys Matthew J. McGinley and Paul J. Mysliwiec prosecuted the case.

    # # #

    MIL Security OSI –

  • MIL-OSI Security: U.S. Attorney’s Office Announces Final Sentencings in Major Albuquerque Drug Trafficking Case

    Source: Office of United States Attorneys

    ALBUQUERQUE – The final of four defendants has been sentenced for his role in a drug trafficking organization that operated out of various Motel 6 locations in Albuquerque. The sentences mark the conclusion of a multi-agency investigation that began in August 2020 as part of Operation Legend.

    According to court documents, the investigation revealed that the organization engaged in the distribution of methamphetamine. Members routinely carried firearms during drug transactions and were involved in other criminal activities, including selling firearms and a kidnapping incident.

    The Motel 6 on Carlisle and I-40 served as a hub for the group’s operations. Between January and June 2020, this location generated 233 calls for police service, including reports of firearms activity, armed robberies, and other serious crimes.

    Four defendants have been sentenced for their roles in a violent drug trafficking organization:

    • Jack Trujillo, 48, the ringleader, was sentenced to 20 years’ imprisonment for multiple counts of methamphetamine distribution, firearms offenses, and possession with intent to distribute methamphetamine. Upon his release from prison, Trujillo will be subject to five years of supervised release.
    • Alberto Gomez, 40, received a 11.5-year sentence for conspiracy to distribute methamphetamine, aiding and abetting the possession with the intent to distribute methamphetamine, possession with the intent to distribute methamphetamine, and being a felon in possession of a firearm and ammunition. Upon his release from prison, Gomez will be subject to five years of supervised release.
    • Cedric Kulka, 26, was sentenced to 8 years’ imprisonment for possession with intent to distribute methamphetamine, possession of a firearm in furtherance of a drug trafficking crime and being a felon in possession of a firearm and ammunition. Upon his release from prison, Kulka will be subject to three years of supervised release.
    • Christopher Hulsey, 29, received a 15-year sentence for multiple counts of methamphetamine distribution, possessing a firearm in furtherance of a drug trafficking crime, and being a felon in possession of a firearm and ammunition. Upon his release from prison, Hulsey will be subject to five years of supervised release.

    There is no parole in the federal system.

    U.S. Attorney Alexander M.M. Uballez and Brendan Iber, Special Agent in Charge of the Phoenix Field Division of the Bureau of Alcohol, Tobacco, Firearms and Explosives, made the announcement today.

    The Bureau of Alcohol, Tobacco, Firearms and Explosives investigated this case with assistance from Homeland Security Investigations and the Albuquerque Police Department. Assistant United States Attorney Jaymie L. Roybal is prosecuting the case.

    # # #

    MIL Security OSI –

  • MIL-OSI USA: Cantwell Presses Trump Nominee RFK Jr. on His Anti-Science Views: ‘Are You Aware of How Harmful These Issues Could Be For Our Public Health?’

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    01.30.25
    Cantwell Presses Trump Nominee RFK Jr. on His Anti-Science Views: ‘Are You Aware of How Harmful These Issues Could Be For Our Public Health?’
    In Finance Committee confirmation hearing, Cantwell credits WA’s fast & robust COVID response to strong health care research & innovation; Cantwell also secures commitment from RFK Jr. to protect existing laws on stem cell research
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell, a senior member of the Senate Committee on Finance, grilled Robert F. Kennedy, Jr. — President Donald Trump’s nominee to serve as Secretary of Health and Human Services – on his past anti-science statements, as well as his promise to cut 600 employees from the National Institute of Health.
    “I represent a very big innovation state – innovation in health care, specifically. Innovation like NIH funding to the Fred Hutch Cancer Center that helped develop the HPV vaccine, which has the potential to eliminate over 95% of cervical cancer. NIH also funds a lot of jobs and grants – nearly 11,000 people in the State of Washington and over $1.2 billion worth grants,” Sen. Cantwell said. “I definitely am troubled by the medical research side of innovation, and some of the things that you have said. In fact, this issue about laying off 600 employees at NIH.”
    “The most striking example of this is when COVID hit. We were the first in the nation – we had the first case – and it really was the fast response by the University of Washington that really helped save lives,” she continued. “Are you aware of how harmful these issues could be for public health? That public health in and of itself could be affected by these kinds of anti-science views?”
    In response, Kennedy responded that he believes in “evidence-based medicine and gold standard science.”
    Sen. Cantwell also grilled Kennedy on whether he supports the ongoing stem cell research being conducted in Washington state.
    “We’re making regenerative heart tissue now at the University of Washington. So yes or no, do you commit to protecting stem cell research for scientific agencies if confirmed?” Sen. Cantwell asked.
    He responded: “I will protect stem cell research.”
    Sen. Cantwell: “You’ll protect the laws that are on the books today and the research that’s done?”
    “My job is, Senator, to enforce the laws,” he said.
    For decades, Sen. Cantwell has remained a staunch supporter of medical innovation and evidence-based science, including treatments for fentanyl addiction, abortion, vaccinations, stem cell research, and more.
    Video of today’s hearing is available HERE; audio is HERE; and a transcript of Sen. Cantwell’s questioning is available HERE.

    MIL OSI USA News –

  • MIL-OSI Global: From chatbot to sexbot: What lawmakers can learn from South Korea’s AI hate-speech disaster

    Source: The Conversation – Canada – By Jul Parke, PhD Candidate in Media, Technology & Culture, University of Toronto

    The chatbot Iruda began expressing hateful views after some users “trained” it with toxic language. Here a newer version of Iruda is shown. (Scatter Lab)

    As artificial intelligence technologies develop at accelerated rates, the methods of governing companies and platforms continue to raise ethical and legal concerns.

    In Canada, many view proposed laws to regulate AI offerings as attacks on free speech and as overreaching government control on tech companies. This backlash has come from free speech advocates, right-wing figures and libertarian thought leaders.

    However, these critics should pay attention to a harrowing case from South Korea that offers important lessons about the risks of public-facing AI technologies and the critical need for user data protection.

    In late 2020, Iruda (or “Lee Luda”), an AI chatbot, quickly became a sensation in South Korea. AI chatbots are computer programs that simulate conversation with humans. In this case, the chatbot was designed as a 21-year-old female college student with a cheerful personality. Marketed as an exciting “AI friend,” Iruda attracted more than 750,000 users in under a month.

    But within weeks, Iruda became an ethics case study and a catalyst for addressing a lack of data governance in South Korea. She soon started to say troubling things and express hateful views. The situation was accelerated and exacerbated by the growing culture of digital sexism and sexual harassment online.

    Making a sexist, hateful chatbot

    Scatter Lab, the tech startup that created Iruda, had already developed popular apps that analyzed emotions in text messages and offered dating advice. The company then used data from these apps to train Iruda’s abilities in intimate conversations. But it failed to fully disclose to users that their intimate messages would be used to train the chatbot.

    The problems began when users noticed Iruda repeating private conversations verbatim from the company’s dating advice apps. These responses included suspiciously real names, credit card information and home addresses, leading to an investigation.

    The chatbot also began expressing discriminatory and hateful views. Investigations by media outlets found this occurred after some users deliberately “trained” it with toxic language. Some users even created user guides on how to make Iruda a “sex slave” on popular online men’s forums. Consequently, Iruda began answering user prompts with sexist, homophobic and sexualized hate speech.

    This raised serious concerns about how AI and tech companies operate. The Iruda incident also raises concerns beyond policy and law for AI and tech companies. What happened with Iruda needs to be examined within a broader context of online sexual harassment in South Korea.

    A pattern of digital harassment

    South Korean feminist scholars have documented how digital platforms have become battlegrounds for gender-based conflicts, with co-ordinated campaigns targeting women who speak out on feminist issues. Social media amplifies these dynamics, creating what Korean American researcher Jiyeon Kim calls “networked misogyny.”

    South Korea, home to the radical feminist 4B movement (which stands for four types of refusal against men: no dating, marriage, sex or children), provides an early example of the intensified gender-based conversations that are commonly seen online worldwide. As journalist Hawon Jung points out, the corruption and abuse exposed by Iruda stemmed from existing social tensions and legal frameworks that refused to address online misogyny. Jung has written extensively on the decades-long struggle to prosecute hidden cameras and revenge porn.

    Beyond privacy: The human cost

    Of course, Iruda was just one incident. The world has seen numerous other cases that demonstrate how seemingly harmless applications like AI chatbots can become vehicles for harassment and abuse without proper oversight.

    These include Microsoft’s Tay.ai in 2016, which was manipulated by users to spout antisemitic and misogynistic tweets. More recently, a custom chatbot on Character.AI was linked to a teen’s suicide.

    Chatbots — that appear as likeable characters that feel increasingly human with rapid technology advancements — are uniquely equipped to extract deeply personal information from their users.

    These attractive and friendly AI figures exemplify what technology scholars Neda Atanasoski and Kalindi Vora describe as the logic of “surrogate humanity” — where AI systems are designed to stand in for human interaction but end up amplifying existing social inequalities.

    AI ethics

    In South Korea, Iruda’s shutdown sparked a national conversation about AI ethics and data rights. The government responded by creating new AI guidelines and fining Scatter Lab 103 million won ($110,000 CAD).

    However, Korean legal scholars Chea Yun Jung and Kyun Kyong Joo note these measures primarily emphasized self-regulation within the tech industry rather than addressing deeper structural issues. It did not address how Iruda became a mechanism through which predatory male users disseminated misogynist beliefs and gender-based rage through deep learning technology.

    Ultimately, looking at AI regulation as a corporate issue is simply not enough. The way these chatbots extract private data and build relationships with human users means that feminist and community-based perspectives are essential for holding tech companies accountable.

    Since this incident, Scatter Lab has been working with researchers to demonstrate the benefits of chatbots.

    Canada needs strong AI policy

    In Canada, the proposed Artificial Intelligence and Data Act and Online Harms Act are still being shaped, and the boundaries of what constitutes a “high-impact” AI system remain undefined.

    The challenge for Canadian policymakers is to create frameworks that protect innovation while preventing systemic abuse by developers and malicious users. This means developing clear guidelines about data consent, implementing systems to prevent abuse, and establishing meaningful accountability measures.

    As AI becomes more integrated into our daily lives, these considerations will only become more critical. The Iruda case shows that when it comes to AI regulation, we need to think beyond technical specifications and consider the very real human implications of these technologies.

    Join us for a live ‘Don’t Call Me Resilient’ podcast recording with Jul Parke on Wednesday, February 5 from 5-6 p.m. at Massey College in Toronto. Free to attend. RSVP here.

    Jul Parke receives funding from the Department of Canadian Heritage and the Social Sciences and Humanities Council of Canada.

    – ref. From chatbot to sexbot: What lawmakers can learn from South Korea’s AI hate-speech disaster – https://theconversation.com/from-chatbot-to-sexbot-what-lawmakers-can-learn-from-south-koreas-ai-hate-speech-disaster-247152

    MIL OSI – Global Reports –

  • MIL-OSI Security: Two Honduran Nationals Indicted For Transporting Minors Across State Lines For Sexual Activity

    Source: Office of United States Attorneys

    Jacksonville, Florida – United States Attorney Roger B. Handberg announces the return of indictments charging Fredi Agustin-Vasquez y Guardado (22, Honduras) and Marlon Ronaldo Canas Trochez (26, Honduras) with transporting minor victims across state lines with the intention that the minor victims engage in sexual activity prohibited by the laws of the state of Florida. If convicted, Agustin-Vasquez and Trochez each face a minimum penalty of 10 years, up to life, in federal prison. 

    According to the Agustin-Vasquez indictment, Agustin-Vasquez transported a minor victim in April or May 2024 with the intent that the minor victim engage in conduct constituting lewd and lascivious battery under Florida law. As alleged in the Trochez indictment, Trochez committed the same offense on September 4, 2024.

    An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

    This case was investigated by Homeland Security Investigations, the Putnam County Sheriff’s Office, the Clay County Sheriff’s Office, and the North Augusta (South Carolina) Department of Public Safety. The cases will be prosecuted by Assistant United States Attorneys Laura Cofer Taylor and Kelly S. Milliron.

    MIL Security OSI –

  • MIL-OSI: Calian to Hold Conference Call Following Announcement of First Quarter FY 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, Jan. 30, 2025 (GLOBE NEWSWIRE) — Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, will hold a conference call at 8:30 a.m. Eastern Time on Thursday, February 13, 2025, to discuss results for the three-month period ended December 31, 2024. The results will be released before markets open.

    Interested participants from the financial and media community should join the live presentation by going to the Calian website and clicking on the Investors section to find the conference call link or directly via the following URL: https://edge.media-server.com/mmc/p/iq588voh.

    A replay of the audio webcast will be available at the same location following the conclusion of the call.

    About Calian

    We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex problems. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets.

    Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.

    Product or service names mentioned herein may be the trademarks of their respective owners.

    Media inquiries:
    media@calian.com
    613-599-8600

    Investor Relations inquiries:
    ir@calian.com

    DISCLAIMER

    Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

    Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
    Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com

    The MIL Network –

  • MIL-OSI: DDB Miner Announces Revolutionary Cloud Mining Platform, Offering Dogecoin (DOGE) Enthusiasts Up to $15,000 Daily

    Source: GlobeNewswire (MIL-OSI)

    BIRMINGHAM, United Kingdom, Jan. 30, 2025 (GLOBE NEWSWIRE) — DDB Miner, a leading innovator in cloud mining technology, is revolutionizing the cryptocurrency mining industry by offering Dogecoin (DOGE) enthusiasts a seamless and highly profitable way to generate passive income from home. With cutting-edge mining infrastructure powered entirely by renewable energy, DDB Miner provides an accessible and sustainable cloud mining solution.

    Empowering Users Through Cloud Mining

    Cryptocurrency mining, a fundamental process in blockchain networks, traditionally requires expensive hardware and extensive technical knowledge. DDB Miner eliminates these barriers with a user-friendly cloud mining platform that allows individuals to participate in mining without the need for costly equipment or maintenance. By leveraging advanced remote mining farms, users can efficiently mine DOGE and other popular cryptocurrencies with ease.

    About DDB Miner

    As a pioneer in the cloud mining sector, DDB Miner operates over 180 mining farms globally, housing more than 100,000 state-of-the-art mining machines. With a commitment to security, transparency, and sustainability, DDB Miner has attracted over 9 million users worldwide, solidifying its reputation as a trusted leader in the industry.

    Key Benefits of DDB Miner’s Cloud Mining Services:

    • Instant $12 Registration Bonus – New users receive an immediate sign-up reward.
    • Daily Earnings & Payouts – Users can earn up to $15,000 per day with automated daily withdrawals.
    • Zero Hidden Fees – No service or management fees, ensuring maximum profitability.
    • Diverse Cryptocurrency Support – Mine BTC, LTC, ETH, DOGE, BCH, SOL, XRP, BNB, USDC, and USDT.
    • Affiliate Program with Lucrative Bonuses – Earn up to $22,000 in referral rewards.
    • Industry-Leading Security – Advanced protection with McAfee® and Cloudflare® security protocols.
    • 100% Uptime Guarantee – Reliable operations backed by 24/7 technical support.

    How to Get Started with DDB Miner

    Joining DDB Miner is a quick and simple process:

    1. Register an Account – Sign up in just two minutes and start mining instantly.
    2. Select a Mining Contract – Choose from various contract options, including $100, $500, and $1,000 plans, each offering different profit margins and durations.
    3. Start Earning Immediately – Users begin receiving payouts the following day, with the option to withdraw funds once reaching a $100 threshold.

    Unlock Additional Earnings Through the DDB Miner Affiliate Program

    DDB Miner’s Affiliate Program presents an exciting opportunity for users to maximize earnings by referring friends and colleagues. With no referral limits, participants can generate up to $20,000 in monthly bonuses, making it an attractive option for those seeking passive income without upfront investment.

    Join the Future of Cloud Mining Today

    DDB Miner is redefining the cryptocurrency mining experience, making it more accessible, sustainable, and profitable than ever before. Whether you’re a seasoned investor or a beginner looking to enter the crypto space, DDB Miner provides the tools and resources needed for success.

    For more information, visit the DDB Miner Official Website or download the DDB Miner app from Google Play or the Apple Store.

    Media Contact:

    Katerina Audrey
    DDB Miner Media Relations
    Email: info@ddbminer.com
    Website: https://ddbminer.com

    Disclaimer: This press release is provided by “DDB Miner”. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Do your own research before doing any investments.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7458b4da-e47e-4ee6-866d-c32a31b77964

    The MIL Network –

  • MIL-OSI: Landsbankinn hf.: 2024 financial results of Landsbankinn

    Source: GlobeNewswire (MIL-OSI)

    • Landsbankinn’s profit in 2024 was ISK 37.5 billion after taxes, as compared with ISK 33.2 billion the previous year.
    • Return on equity (ROE) in 2024 was 12.1%, compared with 11.6% in 2023.
    • Profit in the fourth quarter of 2024 was ISK 10.6 billion and return on equity 13.3%.
    • The Board of Directors intends to propose that the Annual General Meeting approve a dividend payment in the amount of nearly ISK 19 billion for the year 2024, corresponding to around 50% of the year’s profit.
    • Total taxes paid by the Bank, both income tax and a special tax on financial undertakings, amounted to ISK 17.2 billion.
    • Operating expenses increase in line with price levels yet the Bank’s cost-income ratio has never been lower, or 32.4%.
    • Lending grew by ISK 177 billion during the year, or 10.8%. Customer deposits increased by ISK 180 billion, or 17,2%, at the same time.
    • Increased activity and new services contributed to growing commission income, with net fee and commission income increasing by 2.3%. 
    • Net interest margin as a ratio of average asset position was 2.7% in 2024 compared to 3.0% for 2023. The net interest margin of domestic households was 2.1%.
    • Use of Landsbankinn’s app continued to grow and surveys show that users are very satisfied with it. Customers who invest their under Smart Savings in the app grew by 39% in 2024, meaning that around 59,000 customers now gain the best interest terms offered on a non-indexed account.
    • Net credit impairment of financial assets was negative by ISK 2.8 billion, with ISK 2.7 billion thereof attributable to natural disaster on the Reykjanes peninsula.
    • The capital ratio at year end was 24.3%. The Financial Supervisory Authority (FSA) of the Central Bank of Iceland sets Landsbankinn’s total capital requirement at 20.4%.
    • Today, the Bank publishes detailed sustainability information, including calculation of the carbon footprint of its credit portfolio, which has decreased by 20% from the reference year, 2019.
    • In 2024, 57.7% of the Bank’s new funding was green and a total of 61.3% of non-domestic funding is green.
    • In September, the FSA published the results of its assessment, finding that Landsbankinn is eligible to control a qualifying holding in TM tryggingar hf. (TM). The conclusion of the Icelandic Competition Authority in the same case is pending.
    • The Pillar III risk report for 2024 is published alongside the annual financial statements.
    • Landsbankinn’s Annual & Sustainability Report will be published 13 February 2025.

       
    Lilja Björk Einarsdóttir, CEO of Landsbankinn:  

    “Landsbankinn achieved all of its main objectives in 2024, whether related to customer service, financial performance or operations. Profit amounted to ISK 10.6 billion in the fourth quarter and ISK 37.5 billion for the full year. Annualised return on equity was 12.1%. The fourth quarter was one of the strongest in the Bank’s history.

    The Bank’s strong performance is built on solid foundations. Over the past ten years, the Bank’s total assets have grown by ISK 1,083 billion and equity by ISK 74 billion, alongside total dividend payments to shareholders amounting to ISK 192 billion. Operating expenses have remained stable, the number of full-time positions has decreased in tandem with technological advancements and the ratio of operating expenses to average total assets – a common measure of bank efficiency – has never been lower. As a result, the Bank’s competitiveness and strength have increased, enabling it to better support value creation and investments. The net interest margin has declined between periods, and the Bank is positioned to offer more favourable terms while still maintaining acceptable profitability.

    The Bank’s strong financial position benefits society by increasing lending capacity. Total loan growth for the year amounted to ISK 177 billion, with around 60% of this increase from corporate lending. Landsbankinn remains the largest lender to the construction industry and has maintained a strong position in lending to fisheries, despite intense competition from foreign financial institutions, which can offer better terms due to greater economies of scale and lower taxes. Our focus on improving services for small and medium-sized enterprises has yielded strong results and we see many opportunities in this market. Demand for the Bank’s mortgage loans exceeded expectations, clearly indicating that borrowers are seeking competitive terms, fast service, and high-quality customer support. When the fixed interest rate period ended for customers who had fixed rates when they were at their lowest, we personally called each one to offer advice and go over the available options.

    The increase in lending is backed by strong financing, not least growing customer deposits, which increased by ISK 180 billion over the year. Competitive rates and first-rate digital services have played a key role in this development. Throughout the year, the number of customers using the Bank’s Smart Savings in the app grew by 39%, allowing them to benefit from the best available rates on unrestricted accounts. Currently, around 59,000 individuals use this simple and favourable savings solution. Funding on both international and domestic capital markets was also successful. A noteworthy milestone was the issuance of senior non-preferred bonds, the first-ever issuance of its kind by an Icelandic bank. The success of bond issuances confirms the Bank’s strong financial position, which was also reflected in an upgrade in its credit rating. We believe that all conditions are in place for further improvements in the credit rating over the coming 1-2 years.

    The Bank’s net interest margin declined during the year, reflecting the lower interest rate environment and there was a slight decrease in net interest income. Fee and commission income grew, particularly due to strong performance in acquiring services, where the Bank has firmly established its position. In 2024, 757 new businesses joined our acquiring services, including several of the country’s largest retail companies. The payment acquiring service has expanded the Bank’s service offering, boosted customer satisfaction, and created new growth opportunities in the corporate market: Nearly 40% of businesses that joined the service had no prior banking relationship with us.

    Similarly, the Bank’s acquisition of TM presents significant growth opportunities, both on the corporate and retail side. We believe that the integration of banking and insurance services will be beneficial for customers, cost-efficient and full of potential, as evidenced by the success of similar models across Europe. At the same time, the acquisition will diversify revenue streams and support long-term profitability. The Bank’s strategic focus in recent years, providing outstanding service across Iceland both on-site and through leading digital solutions, including a top-tier app, creates exciting opportunities for both the Bank and TM.

    One of the most significant events on the Icelandic market last year was JBT’s acquisition of Marel. Landsbankinn has long held an indirect ownership stake in Marel through Eyrir Invest, dating back to Eyrir’s refinancing in 2009. The value of this stake in Eyrir has fluctuated significantly over the years, at times impacting the Bank’s financial results considerably. Overall, the Bank’s involvement with Marel and Eyrir has been successful.

    The vast majority of our customers use Landsbankinn’s app for their banking needs. The app is intuitive, offering unique features not available elsewhere and user satisfaction surveys indicate high approval. We are committed to continuous improvement, having released 33 app updates last year. Alongside our focus on development of the app and other digital innovation, we remain dedicated to the human element in customer service. We operate 35 branches and outlets across Iceland and this year we placed even greater emphasis on enabling employees all over the country to work on tasks that are not limited to geographic location. The results have been undeniably positive, reflected in shorter processing and wait times, as well as higher employee satisfaction, with staff appreciating the diverse and challenging work opportunities. Landsbankinn is a trusted bank for a successful future and its performance in recent years proves that with a dedicated and ambitious team, anything is possible.”

    Landsbankinn’s financial calendar  

    • Annual General Meeting 19 March 2025  
    • Q1 2025 results 30 April 2025  
    • Q2 2025 results 17 July 2025  
    • Q3 2025 results 23 October 2025  
    • Annual results 2025 29 January 2026 

     

    For further information contact:

    Public Relations, pr@landsbankinn.is

    Investor Relations, ir@landsbankinn.is

    Attachments

    The MIL Network –

  • MIL-OSI Security: Pasco Man Sentenced to Over 11 Years for Possessing and Distributing Child Sexual Abuse Material

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

    Tampa, Florida – U.S. District Judge William Jung has sentenced Anthony Joseph Fresco (68, New Port Richey) to 11 years and 3 months in federal prison for distributing and possessing child sexual abuse material (CSAM). The court also ordered Fresco to forfeit electronic devices used in the commission of the offense, pay $33,000 in restitution to the victims, and register as a sex offender. Fresco entered a guilty plea on October 18, 2024.

    According to court documents, in January 2023, Fresco communicated with an undercover FBI agent over the internet. During their conversation, Fresco discussed his sexual desire for minors and distributed two images and one video of CSAM to the undercover agent. After a search of Fresco’s electronic devices, law enforcement discovered that Fresco had distributed images and videos of CSAM in various online groups, as well as possessed hundreds of images and videos of CSAM, including images and videos depicting the sexual abuse of infants and toddlers. 

    This case was investigated by the Federal Bureau of Investigation. It was prosecuted by Assistant United States Attorney Ilyssa M. Spergel.

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

    MIL Security OSI –

  • MIL-OSI: First American Bank Welcomes Stephen Penney as New Associate Advisor

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Jan. 30, 2025 (GLOBE NEWSWIRE) — First American Bank is excited to announce the addition of Stephen Penney as the newest Associate Advisor to its team, furthering the bank’s efforts to build and grow its wealth management business in Florida. Stephen joins the bank from Deutsche Bank, bringing over 8 years of experience in the financial services industry. His deep expertise in wealth management, combined with a passion for client service, will be invaluable as the bank continues to expand its offerings and deliver personalized financial solutions to clients across the state.

    In his own words, Stephen shared, “I joined First American Bank because of its strong family-owned foundation and commitment to client service. I’m excited to contribute to a growing institution with a clear vision for the future.”

    As an Associate Advisor, Stephen will specialize in wealth planning, helping individuals, families, and businesses achieve their financial goals. He will leverage his extensive experience in financial services to craft tailored strategies that address clients’ unique needs.

    About Stephen Penney
    Stephen Penney is a wealth management professional with over 8 years of experience in the financial sector. Prior to joining First American Bank, Stephen served as a client associate at Deutsche Bank, where he provided exceptional support to top advisors and high-net-worth clients. He also held the role of Investment Specialist on Bank of America’s trade desk. Stephen holds an MBA from the University of Florida, is FINRA licensed, and is actively pursuing the CFA designation.

    Outside of his professional life, Stephen enjoys sailing on Biscayne Bay, learning to play golf, and spending time with friends and family.

    First American Bank investment products are not FDIC insured, not bank guaranteed, and may lose value.

    Contact:
    Teresa Lee
    305-631-6400
    tlee@firstambank.com

    The MIL Network –

  • MIL-OSI Security: Pennsylvania Resident Who Defrauded Allied World Insurance Company Sentenced to Prison

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

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that JAMES KEATING, 52, of Paoli, Pennsylvania, was sentenced today by U.S. District Judge Victor A. Bolden in New Haven to 20 months of imprisonment, followed by three years of supervised release, for defrauding his former employer of more than $1.4 million.

    According to court documents and statements made in court, Keating was an Assistant Vice President and surety bond claims handler at Allied World Insurance Company (“Allied World”).  He later served in the same capacity at Crum and Forster subsidiary U.S. Fire Insurance Company, where he also handled claims on Allied World surety bonds.  All surety bond claims were handled through Allied World’s offices in Farmington, Connecticut.

    Between 2017 and 2021, Keating defrauded Allied World in two ways.  First, he used a shell company, American Construction & Industrial LLC, to bill Allied World for unnecessary claims work that was not performed and took the proceeds for himself.  Second, he solicited and received kickbacks from Allied World vendors through another Keating-owned company, Surety Risk Solutions (also known as “SRS” or “SR5”), without the knowledge of his employer.  Keating also caused these vendors to use another company in which he had an undisclosed ownership interest, Kodiak Asset Recovery, for asset searches at vastly inflated prices.  Keating profited nearly $1 million through American Construction & Industrial LLC, more than $350,000 in kickbacks through Surety Risk Solutions, and nearly $125,000 through Kodiak Asset Recovery.

    Judge Bolden ordered Keating to pay restitution of $1,226,603.97, which represents the loss to Allied World of $1,446,491.95, less $219,887.98 that he previously repaid as part of a civil judgment.

    On July 30, 2024, Keating pleaded guilty to wire fraud.

    This matter was investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney David E. Novick.

    MIL Security OSI –

  • MIL-OSI Security: Waterford Woman Sentenced to Two Years in Prison for Stealing From Addiction and Mental Health Services Nonprofit

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

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that MICHELE DEVINE, 51, of Waterford, was sentenced today by U.S. District Judge Stefan R. Underhill in Bridgeport to 24 months of imprisonment, followed by three years of supervised release, for embezzling from the Southeastern Regional Action Council on Substance Abuse, Inc. (“SERAC”), where she was employed as its executive director.  Judge Underhill also ordered Devine to pay a $2,000 fine and perform 300 hours of community service while on supervised release.

    According to court documents and statements made in court, SERAC, headquartered in Norwich, is a 501(c)(3) organization that serves 41 towns in southeastern and northeastern Connecticut with substance abuse, problem gambling, and mental health related services.  SERAC is primarily funded through hundreds of thousands of dollars in state and federal grants from the State of Connecticut’s Department of Mental Health and Addiction Services, and the U.S. Department of Health and Human Services, Substance Abuse and Mental Health Services Administration.

    Devine was the executive director of SERAC until July 2022.  Beginning in approximately 2008, Devine spent thousands of dollars on purchases that did not relate SERAC but instead were personal expenses for Devine and her family, including thousands of dollars spent on home appliances; travel; timeshare fees at a Connecticut resort; stays at the Canyon Ranch in the Berkshires, Massachusetts; and private school donations.

    Judge Underhill ordered Devine to pay $397,064.93 in restitution.

    Devine was arrested on August 3, 2023.  On October 21, 2024, she pleaded guilty to wire fraud.

    Devine, who is released on a $25,000 bond, is required to report to prison on March 12.

    This matter was investigated by the Federal Bureau of Investigation and the U.S. Department of Health and Human Services, Office of Inspector General, with the assistance of the New London State’s Attorney’s Office and the State of Connecticut Office of the Attorney General.  The case was prosecuted by Assistant U.S. Attorney Ray Miller.

    MIL Security OSI –

  • MIL-OSI Security: Boynton Beach Man Sentenced to Five Years for Distributing Videos Depicting the Sexual Abuse of Children

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

    Jacksonville, Florida – Chief United States District Judge Marcia Morales Howard has sentenced Timothy Burch Morris (46, Boynton Beach) to five years in federal prison for distributing over the internet two videos depicting the sexual abuse of young children. Morris was also ordered to serve a five-year term of supervised release, pay $10,000 in assessments for child victims, and register as a sex offender.

    According to court documents, on November 20, 2023, an FBI agent (UC) in Jacksonville was working in an undercover capacity on a particular social media application (app) to identify individuals who were attempting to sexually exploit children using the internet. The UC joined an online public chatroom on the app posing as an adult with access to a child. App user “timkw37138,” who was later identified as Morris, posted within this public group – “Hi all. 44 very well hung male in Florida. My PM is open.” Later that day, the UC and Morris began texting using the private messaging feature of the app. Morris typed, “I just love stroking to guys [sic] daughters,” and stated that his favorite age is “prob 13-15 give or take a couple years neither side.”

    On November 22, 2023, when asked to verify if he was “legit,” Morris sent the UC a sexually explicit photo of himself. Five minutes later, Morris distributed two videos to the UC depicting minors being sexually abused. During another online conversation on November 27, 2023, Morris sent the UC another sexually explicit photo of himself taken at his residence.

    After further investigation, FBI agents arrested Morris. During a search incident to his arrest, agents seized Morris’s cellphone which contained several sexually explicit photos of Morris that he had taken while at his home that were consistent with those sent to the UC. During an interview with law enforcement, Morris admitted having the “timkw37138” user account on the app for over five years.   

    This case was investigated by the Federal Bureau of Investigation in Jacksonville and West Palm Beach, with assistance from the Boynton Beach Police Department. It was prosecuted by Assistant United States Attorney D. Rodney Brown.

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

    MIL Security OSI –