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Category: Intelligence Agencies

  • MIL-OSI Security: Former Turkey Leg Hut owner indicted for arson

    Source: Office of United States Attorneys

    HOUSTON – A 42-year-old Houston man has been taken into custody on charges of conspiracy to commit arson of a commercial building and conspiracy to use an interstate facility to commit arson of a vehicle, announced U.S. Attorney Nicholas J. Ganjei.

    Lyndell “Lynn” Price, former owner of the Turkey Leg Hut who now owns The Oyster Hut, is set to make his initial appearance before U.S. Magistrate Judge Dena Hanovice Palermo at 2 p.m. Also in custody and set to appear are Armani Williams, 27, and John Lee Price, 39, both also of Houston.

    The indictment, returned April 8 and unsealed upon the arrests, alleges Price and others conspired to set fire to Bar 5015. The charges allege the owner of that bar was a former co-owner of the Turkey Leg Hut and Price’s business partner. 

    In early June 12, 2020, Price had allegedly recruited a group which included Williams, John Price and others. The charges allege Williams, John Price and others were involved in pouring gasoline at the entrance ramp before igniting a fire at Bar 5015. Lynn Price later provided payment to them, according to the charges. 

    Prior to the arson, the indictment alleges that in April 2020, Lynn Price also paid John Price and others to set fire to a stolen blue 1975 Chevy Nova.

    Lynn Price and the others are charged with conspiracy to commit arson and arson and face up to 20 years in federal prison as well as a possible $250,000 maximum fine.   

    Lynn Price and John Price are also charged with conspiracy to use an interstate facility to commit arson of a vehicle and could receive another five years as possible punishment, upon conviction.   

    The indictment remains sealed to those charged but not as yet in custody. 

    FBI and Bureau of Alcohol, Tobacco, Firearms and Explosives conducted the investigation with the assistance of the Houston Police Department, Texas Department of Public Safety and Harris County Constable’s Office – Precinct 4. Assistant U.S. Attorneys Sebastian A. Edwards and Keri Fuller are prosecuting the case.

    An indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law. 

    MIL Security OSI –

  • MIL-OSI Security: Spree of Armed Carjackings in 2023 Nets District Man 10 Years in Federal Prison

    Source: Office of United States Attorneys

    WASHINGTON – Junious Plummer, 36, of the District of Columbia, was sentenced today to 10 years in federal prison in connection with a firearms offense and a spree of three armed carjackings in late 2023.

    The sentence was announced by U.S. Attorney Edward R. Martin Jr., Special Agent in Charge Sean Ryan of the FBI Washington Field Office Criminal and Cyber Division, and Chief Pamela Smith of the Metropolitan Police Department.

    Plummer pleaded guilty on Jan. 21, 2025, to one count of brandishing of a firearm during a crime of violence. U.S. District Court Judge Reggie B. Walton ordered Plummer to serve three years of supervised release.

    According to court documents, on Aug. 11, 2023, about 7:30 a.m., Plummer approached two men sleeping in a blue Hyundai Elantra parked in a lot on the 3900 block of Dix Street NE. Plummer, holding a black handgun, opened the driver’s side door and demanded that the person get out of the vehicle. The victim tried to close the door. Plummer struck him with the handgun and ordered the person in the passenger seat to get out. Plummer then took the car and drove away with the driver’s phone still in the vehicle.

    On Oct.18, 2023, Plummer, brandishing a silver revolver, approached the owner of a white 2007 Toyota Camry as the owner refueled at a gas station on the 4100 block of Hunt Place, NE. Plummer demanded the keys, and when the owner hesitated, Plummer hit the owner in the head with the revolver, causing the owner to drop his keys, iPhone, and headphones. Plummer scooped up the items and fled in the Camry.

    On Dec. 18, 2023, Plummer and another man approached a woman in the parking garage of her apartment building on the 400 block of Minnesota Ave., NE. The woman was getting into her block 2014 Chrysler 300. One of the men was armed with a rifle-style firearm. Plummer and his accomplice demanded the woman’s keys, forced her to the ground, and placed the gun against the side of her head. The woman told the men the cars were in the vehicle. Plummer and his accomplice took the Chrysler 300 and fled to Maryland. Shortly after, Plummer and the man used the woman’s credit cards to make purchases.

    Between the last two known carjackings, on Oct. 30, 2023, Plummer was found to be in possession of a black Charter Arms .357 firearm loaded with five rounds.

    This investigation was conducted by the MPD and the FBI Washington Field Office Violent Crimes Task Force. It was prosecuted by Assistant U.S. Attorney Cameron Tepfer with valuable assistance from Special Assistant U.S. Attorney Kate MacLure Toth.

    24cr294

    MIL Security OSI –

  • MIL-OSI Security: Cherry Creek Man Sentenced to 10 Years in Federal Prison for Abusive Sexual Contact

    Source: Office of United States Attorneys

    PIERRE – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Eric C. Schulte has sentenced a Cherry Creek, South Dakota, man convicted of Abusive Sexual Contact. The sentencing took place on April 22, 2025.

    Pacer Hayes, age 27, was sentenced to 10 years in federal prison, followed by five years of supervised release, and ordered to pay a $100 special assessment to the Federal Crime Victims Fund.

    Hayes was indicted by a federal grand jury in February 2024. He pleaded guilty on January 24, 2025.

    The conviction stems from an incident that occurred in November 2023 in Eagle Butte, South Dakota. On November 10, 2023, the victim agreed to give Hayes a ride from a bar after he had been drinking. After convincing the victim to let him sleep on her couch because he was locked out of his home, Hayes entered the victim’s bedroom during the night and sexually assaulted her. Hayes used his phone to photograph and video the victim’s body during the assault. The offense occurred in the Cheyenne River Indian Reservation.

    This matter was prosecuted by the U.S. Attorney’s Office because the Major Crimes Act, a federal statute, mandates that certain violent crimes alleged to have occurred in Indian Country be prosecuted in Federal court as opposed to State court.

    This case was investigated by the FBI and the Cheyenne River Sioux Tribe Law Enforcement Services. Assistant U.S. Attorney Wayne Venhuizen prosecuted the case.

    Hayes was immediately remanded to the custody of the U.S. Marshals Service.

     

     

    MIL Security OSI –

  • MIL-OSI Security: Cameroonian Man Indicted for Conspiring to Provide Material Support to Armed Separatist Fighters to Murder, Kidnap, and Maim Individuals in Cameroon and For Making Threats

    Source: United States Attorneys General

    A federal grand jury in Baltimore returned an indictment yesterday charging a Cameroonian national residing in Maryland, Eric Tataw, also known as “the Garri Master,” 38, of Gaithersburg, Maryland, with conspiring to provide material support to armed separatist militias in Cameroon and threatening violence against Cameroonian civilians. He surrendered and will make his initial court appearance before U.S. Magistrate Judge J. Mark Coulson today.

    According to court documents, multiple armed and violent secessionist groups in the Northwest and Southwest regions of Cameroon are fighting to form a new country called “Ambazonia.” The armed separatist militias sought to achieve secession by not only attacking the Cameroonian military, but also intentionally attacking the civilian population in Cameroon in an attempt to force the Cameroonian government into allowing these regions to secede. These separatist fighters are frequently referred to as “Amba Boys.”

    “The defendant is alleged to have ordered horrific acts of violence, including severing limbs, against Cameroonian civilians in support of a violent secessionist movement,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “This indictment represents the Justice Department’s commitment to hold accountable human rights violators who direct brutal political violence and fundraise for armed militias from the comfort of the United States.”

    “The Justice Department will not tolerate those who help murder, maim, and kidnap,” said Sue J. Bai, Head of the Justice Department’s National Security Division. “We will continue to hold accountable those who aim to turn American soil into a staging ground for political violence abroad.”

    “Tataw and his co-conspirators masterminded and financially supported a vicious scheme to overthrow a foreign government. They resorted to an unthinkable level of violence while instilling fear in innocent victims to advance their political agenda,” said U.S. Attorney Kelly O. Hayes for the District of Maryland. “We, along with our law enforcement partners, are committed to relentlessly pursuing anyone who attempts to inflict mayhem on others. Tataw and his co-conspirators demonstrated a total disregard for human life so now they must pay the price.”

    As alleged in the indictment, Tataw was a citizen of Cameroon living in Maryland and was a member of the Cameroonian diaspora with a large social media following. Beginning in April 2018, Tataw and others sought to raise funds for the Amba Boys to finance violent attacks in Cameroon. Tataw also allegedly called for the murder, kidnapping, and maiming of civilians and the destruction of public, educational, and cultural property in Cameroon. Tataw and his co-conspirators allegedly directed the maiming of Cameroonian civilians by severing their limbs, a practice Tataw called “Garriing.” Tataw allegedly used the phrase “small Garri” to refer to removing fingers or other small appendages and the phrase “large Garri” to refer to removing large limbs or killing people. Additionally, Tataw allegedly referred to himself as the “Garri Master,” or master of mutilation.

    Tataw and his co-conspirators allegedly targeted those believed to be working for or collaborating with the government, including municipal officials, traditional chiefs, and employees of the Cameroon Development Corporation (CDC), a public company that grew, processed, and sold bananas, palm oil, and rubber. As alleged, Tataw personally wrote hundreds of social media posts on Facebook, YouTube, and Twitter calling for attacks against Cameroonian civilians, seeking to raise funds to arm Amba Boys, and threatening those he viewed as cooperating with the government of Cameroon. These social media posts were regularly viewed by tens of thousands of people, including Amba Boys and their leaders, and were often further disseminated by third parties allegedly acting at Tataw’s direction or encouragement.

    Tataw is charged with one count of conspiracy to provide material support and four counts of interstate communication of a threat to harm. If convicted, he faces a maximum penalty of 15 years in prison on the material support count and five years in prison on each count of communication of a threat to harm. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; Sue J. Bai, Head of the Justice Department’s National Security Division; U.S. Attorney Kelly O. Hayes for the District of Maryland; and Special Agent in Charge Michael McCarthy of U.S. Immigration and Customs Enforcement Homeland Security Investigations (ICE HSI) Maryland made the announcement.

    HSI and the U.S. Department of State’s Diplomatic Security Service, with assistance from the FBI, are investigating the case.

    Trial Attorney Chelsea Schinnour of the Criminal Division’s Human Rights and Special Prosecutions Section, Assistant U.S. Attorney Christina Hoffman and Joseph Wenner for the District of Maryland, and Trial Attorneys Michael Dittoe and Andrew Briggs of the National Security Division’s Counterterrorism Section are prosecuting the case, with assistance from the Justice Department’s Office of International Affairs.

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

    MIL Security OSI –

  • MIL-OSI Asia-Pac: Tobacco Control Legislation (Amendment) Bill 2025 gazetted today

    Source: Hong Kong Government special administrative region

         The Government published the Tobacco Control Legislation (Amendment) Bill 2025 in the Gazette today (April 25) to make amendments to the existing legislation for the implementation of the new phase of tobacco control measures. The Bill will be introduced into the Legislative Council (LegCo) for first and second readings on April 30.

         The Health Bureau (HHB) announced the overall tobacco control strategy in June last year, setting out the directions under the strategy and short, medium and long-term measures to reduce the social hazards posed by smoking products and safeguard public health. These measures are formulated around four directions under the tobacco control strategy, namely, Regulate Supply, Suppress Demand: reducing the demand for and supply of smoking products; Ban Promotion, Reduce Attractiveness: minimising the attractiveness of smoking products; Expand No Smoking Areas, Mitigate Harm: protecting the public from the hazard of second-hand smoke; and Enhance education, Support Cessation: strengthening the provision of smoking cessation services, with a view to taking forward the tobacco control process in a multipronged and progressive approach. Among the 10 short-term tobacco control measures announced, eight of them require legislative amendments.  

         The Bill seeks to amend Ordinances including the Smoking (Public Health) Ordinance (Cap. 371), the Dutiable Commodities Ordinance (Cap. 109) and the Fixed Penalty (Smoking Offences) Ordinance (Cap. 600) to provide a legal basis for the implementation of the eight short-term measures as follows:

    (1) Implement a duty stamp system for cigarettes

    • Require importers/local manufacturers to ensure that each package of duty-paid cigarettes is affixed with a duty stamp when put on the market for sale 
    • Ban the sale or supply of cigarettes whose packages are not affixed with a duty stamp
    • Require that cigarettes sold at a price lower than the tobacco duty be proved to be duty-paid 
    • Plan to roll out a pilot scheme in the third quarter of 2025
    • The official launch date will be separately specified. The transitional phase is planned to commence in the fourth quarter of 2026, and the full implementation is targeted for the second quarter of 2027. 

    (2) Increase penalties for duty-not-paid tobacco 

    • Raise the maximum penalty for relevant offences from a $1 million fine and two-year imprisonment to a $2 million fine and seven-year imprisonment
    • List the relevant offences under the Organized and Serious Crimes Ordinance (Cap. 455) to enable the Customs and Excise Department to freeze assets associated with illicit tobacco activities
    • Increase the penalty for offences of failing to declare to Customs Officers compoundable under the Dutiable Commodities Ordinance from $2,000 to $5,000 
    • Plan to take immediate effect upon gazettal of the amended Ordinance

    (3) Prohibit the possession of alternative smoking products (ASPs) 

    • Ban the possession of ASP substances (i.e. capsules, heat sticks and herbal cigarettes) in public places
    • Smoking or using ASP in public places will be considered possession and a contravention of the requirement
    • Introduce a fixed penalty of $3,000 for incompliant cases involving possession of small quantities of ASP substances for non-commercial purposes
    • Plan to take effect on April 30, 2026

    (4) Implement plain packaging requirement 

    • Require that the packaging of conventional smoking products be uniformly designed, restricting or prohibiting the display of any logos, colours, brand images or promotional information on the packaging other than brand names and product names displayed in standard colour and font style, thereby dampening promotion effects 
    • The official launch date will be separately specified. It is targeted to take effect in tandem with the duty stamp system in the second quarter of 2027

    (5) Prohibit smoking while queuing 
         1. Prohibit smoking while queuing for public transport

    • Prohibit doing a smoking act while queuing in a line of two or more persons to board a public transport carrier (such as queuing for buses, minibuses, taxis and trams) at a designated boarding location
    • Prohibit smoking while staying in the delineated area of a designated boarding location (such as areas underneath bus shelters or inside areas where queuing positions are clearly indicated at ground level)

         2. Prohibit smoking while queuing to enter specified places  

    • Specified places include areas with high pedestrian flow, where queues may easily form, such as hospitals, designated clinics or health centres, public pleasure grounds, swimming pools and stadiums.
    • Prohibit smoking while queuing in a line of two or more persons to enter specified places, or queuing within the specified places.  

         3. Any person who contravenes the ban is liable to a fixed penalty, and the penalty level is on par with illegal smoking in a statutory no-smoking area (NSA)

    • Plan to take effect on January 1, 2026

    (6) Extend statutory NSAs  

    • Expand statutory NSAs to public areas that lie within 3 metres from entrances/exits exclusively used for the specified premises (i.e. child care centres, residential care homes, schools, hospitals and designated clinics or health centres)
    • Empower the Secretary for Health to designate a large area as NSAs with specifications and exemptions having regard to circumstances in districts and actual needs.
    • Raise the fixed penalty level for smoking offences to $3,000
    • Plan to take effect on January 1, 2026

    (7) Prohibit the provision of smoking products to persons aged below 18 

    • Cases involving the provision of small quantities of conventional smoking products will be liable to a fixed penalty of $3,000, while cases exceeding the specified quantities will be liable to a maximum fine of $25,000 
    • Provision of ASPs will be liable to a maximum penalty of a fine of $50,000 and six months’ imprisonment. 
    • Plan to take effect on January 1, 2026

    (8) Ban flavoured conventional smoking products

    • Prohibit the sale of conventional smoking products that contain specified additives to counteract the intention of tobacco companies to use flavourings to disguise the toxicity of conventional smoking products and attract young people to smoke
    • Ban conventional smoking products containing specified additives other than menthol in the first stage
    • Introduce a Certification regime, requiring that suppliers needs to obtain a “certificate of compliance” issued by the Director of Health for distributing conventional smoking products.
    • Maximum penalty of relevant offences will be a fine of $50,000 and six months’ imprisonment 
    • The official launch date will be separately specified. It is targeted to officially commence after the full implementation of the duty stamp system (i.e. around the second quarter of 2027)

         The other two short-term measures, namely “continuously reviewing the effectiveness of increasing tobacco duty and the pace of future adjustments” and “strengthening smoking cessation services as well as publicity and education”, are ongoing and do not involve legislative amendments. 

         A spokesman for the HHB said, “The Government is committed to further reducing Hong Kong’s smoking prevalence and mitigating the impact of second-hand smoke on the public through various measures in a progressive manner, thereby safeguarding public health. To further alleviate the threat posed by tobacco to public health, the Government needs to put in place more proactive measures to curb tobacco use and minimise its harmful effects on society. After factors such as the effectiveness, practicability and public receptiveness of these measures were weighed, the HHB put forward these measures last year and has further refined the details of the proposed legislative amendments after considering the views of various stakeholders in the community.”

         According to figures of the Census and Statistics Department, the proportion of persons aged 15 and above with a daily smoking habit of conventional cigarettes in Hong Kong was 9.1 per cent in 2023, meaning there are still about 580 000 people in Hong Kong who are daily smokers of conventional cigarettes.  

         A spokesman for the HHB said, “The various smoking-induced diseases among smokers will pose a heavy burden on the healthcare system and society as a whole. A local study revealed that the economic loss resulting from tobacco-induced health problems in 2021 was estimated to be about $8.2 billion per year in Hong Kong. The Government will fully work with the LegCo to scrutinise the Bill, with a view to seeking the LegCo’s support and passage of the Bill, thereby building a legal framework to curb smoking hazards and stepping towards a ‘tobacco-free Hong Kong’ through concerted efforts.”

    MIL OSI Asia Pacific News –

  • MIL-OSI: Meridian Corporation Reports First Quarter 2025 Results and Announces a Quarterly Dividend of $0.125 per Common Share

    Source: GlobeNewswire (MIL-OSI)

    MALVERN, Pa., April 25, 2025 (GLOBE NEWSWIRE) — Meridian Corporation (Nasdaq: MRBK) today reported:

      Three Months Ended
    (Dollars in thousands, except per share data)((Unaudited) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Income:          
    Net income $ 2,399   $ 5,600   $ 2,676
    Diluted earnings per common share $ 0.21   $ 0.49   $ 0.24
    Pre-provision net revenue (PPNR) (1) $ 8,357   $ 11,167   $ 6,419
    (1) See Non-GAAP reconciliation in the Appendix          
               
    • Net income for the quarter ended March 31, 2025 was $2.4 million, or $0.21 per diluted share.
    • Pre-provision net revenue1 for the quarter was $8.4 million, up $1.9 million or 30.2% from 1Q 2024.
    • Net interest margin was 3.46% for the first quarter of 2025, with a loan yield of 7.19%.
    • Return on average assets and return on average equity for the first quarter of 2025 were 0.40% and 5.57%, respectively.
    • Total assets at March 31, 2025 were $2.5 billion, compared to $2.4 billion at December 31, 2024 and $2.3 billion at March 31, 2024.
    • Commercial loans, excluding leases, increased $49.5 million, or 3% for the quarter.
    • First quarter deposit growth was $123.4 million, or 6%.
    • Non-interest-bearing deposits were up $82.6 million or 34%, quarter over quarter.
    • On April 24, 2025, the Board of Directors declared a quarterly cash dividend of $0.125 per common share, payable May 19, 2025 to shareholders of record as of May 12, 2025.

    Christopher J. Annas, Chairman and CEO commented:

    Meridian’s first quarter 2025 earnings of $2.4 million were slightly below the first quarter 2024 net income of $2.7 million however PPNR was up 30%, reflecting overall healthy growth in our business units and good expense control. Our earnings were negatively affected by higher provisioning resulting mainly from distressed SBA loans, which have been impacted by the dramatic rate rise. The remediation process for SBA loans is lengthy due to procedural requirements, which we follow diligently to assure the government guaranty, but we are making progress. On a positive note, our net interest margin was 3.46% and has shown consistent improvement over the last four quarters.

    Loan growth in the first quarter was 12% annualized (minus expected lease paydowns) and all commercial groups contributed. The Delaware Valley region is plagued by a lack of homes for sale, so construction and other residential building is in demand. Our commercial/industrial lending has benefited from disruption in a recent local bank combination, from where we hired a senior lender with a deep list of contacts throughout the region. We expect many opportunities from this individual and his future hires.

    Meridian Wealth Partners continued its strong performance with pre-tax income of $726 thousand for the quarter. A slight increase in assets under management combined with overall better fee percentages contributed to the gain. We are poised for better growth in this segment as our expanded loan customer base provides referral business, and with the recent hiring of a senior wealth professional to help focus on other opportunities.

    The mortgage group had a larger pre-tax loss in 1Q25 vs 1Q24, mainly due to lower volume and a lesser loan officer count. The first quarter is seasonally weaker, but we are encouraged by the forecast for greater home inventory in both our Delaware Valley and Maryland markets. That has been a much bigger factor for loan originations than mortgage rates.

    Our solid growth in PPNR has enabled us to manage the spike in non-performing loans, as we work intensely to remediate these credits. The growth in first quarter loan volume and expansion in net interest margin should continue to help drive further improvement in profitability.

    Select Condensed Financial Information

      As of or for the three months ended (Unaudited)
      March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
      (Dollars in thousands, except per share data)
    Income:                  
    Net income $ 2,399     $ 5,600     $ 4,743     $ 3,326     $ 2,676  
    Basic earnings per common share   0.21       0.50       0.43       0.30       0.24  
    Diluted earnings per common share   0.21       0.49       0.42       0.30       0.24  
    Net interest income   19,776       19,299       18,242       16,846       16,609  
                       
    Balance Sheet:                  
    Total assets $ 2,528,586     $ 2,385,867     $ 2,387,721     $ 2,351,584     $ 2,292,923  
    Loans, net of fees and costs   2,071,675       2,030,437       2,008,396       1,988,535       1,956,315  
    Total deposits   2,128,742       2,005,368       1,978,927       1,915,436       1,900,696  
    Non-interest bearing deposits   323,485       240,858       237,207       224,040       220,581  
    Stockholders’ equity   173,266       171,522       167,450       162,382       159,936  
                       
    Balance Sheet Average Balances:                  
    Total assets $ 2,420,571     $ 2,434,270     $ 2,373,261     $ 2,319,295     $ 2,269,047  
    Total interest earning assets   2,330,224       2,342,651       2,277,523       2,222,177       2,173,212  
    Loans, net of fees and costs   2,039,676       2,029,739       1,997,574       1,972,740       1,944,187  
    Total deposits   2,036,208       2,043,505       1,960,145       1,919,954       1,823,523  
    Non-interest bearing deposits   244,161       259,118       246,310       229,040       233,255  
    Stockholders’ equity   174,734       171,214       165,309       162,119       159,822  
                       
    Performance Ratios (Annualized):                  
    Return on average assets   0.40 %     0.92 %     0.80 %     0.58 %     0.47 %
    Return on average equity   5.57 %     13.01 %     11.41 %     8.25 %     6.73 %
                                           

    Income Statement – First Quarter 2025 Compared to Fourth Quarter 2024

    First quarter net income decreased $3.2 million, or 57.2%, to $2.4 million due to decreased non-interest income as the prior quarter included a $4.0 million gain on sale of MSR’s and a $317 thousand gain on sale of OREO, partially offset by a $1.0 million charge for early lease termination. The first quarter provision for credit losses increased over the prior quarter by $1.6 million. Net interest income increased $477 thousand and non-interest expenses decreased $2.7 million. Detailed explanations of the major categories of income and expense follow below.

    Net Interest income

    Interest income decreased $869 thousand quarter-over-quarter on a tax equivalent basis, driven by both two less days in the period as well as a lower level of average earning assets, which decreased by $12.4 million. On a rate basis, the yield on earnings assets increased 2 basis points.

    Average total loans, excluding residential loans for sale, increased $10.0 million. The largest drivers of this increase were commercial, commercial real estate, and small business loans which on a combined basis increased $21.2 million on average, partially offset by a decrease in average leases of $10.6 million. Home equity, residential real estate, consumer and other loans held in portfolio decreased on a combined basis $602 thousand on average.

    Total interest expense decreased $1.3 million, quarter-over-quarter, also driven by two fewer days in the period and a lower volume of time deposits and borrowings. On a rate basis, all deposit types experienced a decrease in the cost, with the overall cost of deposits dropping 21 basis points. Interest expense on total deposits decreased $1.5 million and interest expense on borrowings decreased $139 thousand. During the period, interest-bearing checking accounts and money market accounts increased $9.9 million and $37.9 million on average, respectively, while time deposits decreased $40.2 million on average. Borrowings decreased $6.7 million on average.

    Overall the net interest margin increased 17 basis points to 3.46% as the cost of funds declined and the yield on earning assets increased slightly.

    Provision for Credit Losses

    The overall provision for credit losses for the first quarter increased $1.6 million to $5.2 million, from $3.6 million in the fourth quarter. The first quarter provision increased due to an increase of $7.1 million in non-performing loans which led to an increase of $2.3 million in specific reserves on such loans. SBA loans make up $6.9 million of these additional non-performing loans, of which $3.8 million are guaranteed by the SBA.   The increase in provision was also partially impacted by unfavorable changes in certain macro-economic factors used in the model due to current economic and market uncertainty.

    Non-interest income

    The following table presents the components of non-interest income for the periods indicated:

      Three Months Ended        
    (Dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   $ Change   % Change
    Mortgage banking income $ 3,393     $ 5,516     $ (2,123 )   (38.5)%
    Wealth management income   1,535       1,527       8     0.5 %
    SBA loan income   748       1,143       (395 )   (34.6)%
    Earnings on investment in life insurance   222       224       (2 )   (0.9)%
    Net (loss) gain on sale of MSRs   (52 )     3,992       (4,044 )   (101.3)%
    Gain on sale of OREO   —       317       (317 )   (100.0)%
    Net change in the fair value of derivative instruments   149       (146 )     295     (202.1)%
    Net change in the fair value of loans held-for-sale   102       (163 )     265     (162.6)%
    Net change in the fair value of loans held-for-investment   170       (552 )     722     (130.8)%
    Net (loss) gain on hedging activity   21       192       (171 )   (89.1)%
    Other   1,036       1,229       (193 )   (15.7)%
    Total non-interest income $ 7,324     $ 13,279     $ (5,955 )   (44.8)%
                               

    Total non-interest income decreased $6.0 million, or 44.8%, quarter-over-quarter largely due to recognizing a gain on sale of MSRs of $4.0 million in the prior quarter, combined with a $2.1 million decline in mortgage banking income, and a change in gains of $171 thousand in hedging activity. These declines in income were partially offset by favorable derivative and loan related fair value changes. Mortgage loan sales decreased $68.1 million or 31.5% quarter over quarter driving lower gain on sale income in addition to a lower overall margin, leading to the lower level of mortgage banking income.

    SBA loan income decreased $395 thousand due to a lower level of SBA loan sales. SBA loans sold for the quarter-ended March 31, 2025 totaled $12.1 million, down $7.8 million, or 39.1%, compared to the quarter-ended December 31, 2024. The gross margin on SBA sales was 8.7% for the quarter, up from 7.5% for the previous quarter.

    Non-interest expense

    The following table presents the components of non-interest expense for the periods indicated:

      Three Months Ended        
    (Dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   $ Change   % Change
    Salaries and employee benefits $ 11,385   $ 12,429   $         (1,044 )           (8.4)%
    Occupancy and equipment   1,338     2,270             (932 )           (41.1)%
    Professional fees   763     1,134             (371 )           (32.7)%
    Data processing and software   1,479     1,553             (74 )           (4.8)%
    Advertising and promotion   779     839             (60 )           (7.2)%
    Pennsylvania bank shares tax   269     243             26             10.7 %
    Other   2,730     2,943             (213 )           (7.2)%
    Total non-interest expense $ 18,743   $ 21,411   $         (2,668 )           (12.5)%
                           

    Overall salaries and benefits decreased $1.0 million. Bank and wealth segments combined decreased $245 thousand, while the mortgage segment decreased $799 thousand. Mortgage segment salaries, commissions, and employee benefits expense are impacted by volume and decreased commensurate with the lower levels of originations, which were down $63.5 million from the prior quarter. Occupancy and equipment expense decreased $932 thousand, net, due to fees, credits and other disposal costs for the early termination of the Blue Bell lease that occurred in the prior quarter. Professional fees decreased $371 thousand over the prior period mainly due to the results of cost control efforts on certain internal audit fees, legal fees and consulting fees, while other non-interest expense decreased $213 thousand due to a decline in certain business development costs, other loan related fees, and OREO related expenses.

    Balance Sheet – March 31, 2025 Compared to December 31, 2024

    Total assets increased $142.7 million, or 6.0%, to $2.5 billion as of March 31, 2025 from $2.4 billion at December 31, 2024. Interest-earning cash increased $91.8 million, or 419.7%, to $113.6 million as of March 31, 2025 from December 31, 2024, as a temporary deposit of $103 million from a long standing customer was on hand for several weeks. In addition, loan growth contributed to the overall increase in total assets over this period.

    Portfolio loan growth was $42.0 million, or 2.1% quarter-over-quarter. The portfolio growth was generated from commercial mortgage loans which increased $21.2 million, or 2.6%, construction loans which increased $18.3 million, or 7.1%, small business loans which increased $5.3 million, or 3.4%, and commercial & industrial loans which increased $4.6 million, or 1.3%. Lease financings decreased $9.2 million, or 12.1% from December 31, 2024, partially offsetting the above noted loan growth, but this decline was expected as we continue to refocus away from lease originations.

    Total deposits increased $123.4 million, or 6.2% quarter-over-quarter, led by non-interest bearing deposit growth of $82.6 million. Non-interest bearing deposits benefited from a late quarter deposit of $103 million from a long standing customer that sold a business. This deposit was on hand for several weeks. Money market accounts and savings accounts also increased a combined $34.3 million, while interest bearing demand deposits increased $19.6 million, and time deposits decreased $13.1 million from largely wholesale efforts. Overall borrowings increased $15.1 million, or 12.1% quarter-over-quarter.

    Total stockholders’ equity increased by $1.7 million from December 31, 2024, to $173.3 million as of March 31, 2025. Changes to equity for the current quarter included net income of $2.4 million, less dividends paid of $1.4 million, offset by a decrease of $529 thousand in other comprehensive income. The Community Bank Leverage Ratio for the Bank was 9.30% at March 31, 2025.

    Asset Quality Summary

    Non-performing loans increased $7.1 million to $52.2 million at March 31, 2025 compared to $45.1 million at December 31, 2024. Included in non-performing loans are $19.1 million of SBA loans of which $9.9 million, or 53%, are guaranteed by the SBA. The SBA portfolio was subject to the Fed’s rapid rate increase and $15.0 million, or 80% of these non-performing loans originated in 2020-2021 where their rates rose over 500 basis points.  

    The ratio of non-performing loans to total loans increased 30 bps to 2.49% as of March 31, 2025, from 2.19% as of December 31, 2024. The increase in non-performing loans was led by a $6.9 million increase in non-performing SBA loans, and $881 thousand in leases.

    Net charge-offs as a % of total average loans of 0.14% for the quarter ended March 31, 2025, decreased from 0.34% for the quarter ended December 31, 2024. Net charge-offs decreased to $2.8 million for the quarter ended March 31, 2025, compared to net charge-offs of $7.1 million for the quarter ended December 31, 2024. First quarter charge-offs consisted of $851 thousand on a protracted commercial advertising loan relationship, $738 thousand related to construction loans, $553 thousand of small ticket equipment leases which are charged-off after becoming more than 120 days past due, and $277 thousand in SBA loans. Overall there were recoveries of $175 thousand, largely related to leases and SBA loans.

    The ratio of allowance for credit losses to total loans held for investment was 1.01% as of March 31, 2025, an increase from the coverage ratio of 0.91% as of December 31, 2024 due largely to the increase in specific reserves on non-performing loans in the quarter discussed above.   As of March 31, 2025 there were specific reserves of $5.0 million against individually evaluated loans, an increase of $2.3 million from $2.7 million in specific reserves as of December 31, 2024. The specific reserve increase over the prior quarter was led by a $1.6 million increase in specific reserves on SBA loans, as well as increases of $535 thousand in commercial real estate loan specifics reserves and a $174 thousand increase in commercial loan specific reserves.

    About Meridian Corporation

    Meridian Bank, the wholly owned subsidiary of Meridian Corporation, is an innovative community bank serving Pennsylvania, New Jersey, Delaware and Maryland. Through its 17 offices, including banking branches and mortgage locations, Meridian offers a full suite of financial products and services. Meridian specializes in business and industrial lending, retail and commercial real estate lending, electronic payments, and wealth management solutions through Meridian Wealth Partners. Meridian also offers a broad menu of high-yield depository products supported by robust online and mobile access. For additional information, visit our website at www.meridianbanker.com. Member FDIC.

    “Safe Harbor” Statement

    In addition to historical information, this press release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Meridian Corporation’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Meridian Corporation’s control). Numerous competitive, economic, regulatory, legal and technological factors, risks and uncertainties that could cause actual results to differ materially include, without limitation, credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cyber-security concerns; rapid technological developments and changes; increased competitive pressures; changes in spreads on interest-earning assets and interest-bearing liabilities; changes in general economic conditions and conditions within the securities markets; escalating tariff and other trade policies and the resulting impacts on market volatility and global trade; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; legislation affecting the financial services industry as a whole, and Meridian Corporation, in particular; changes in accounting policies, practices or guidance; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; among others, could cause Meridian Corporation’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Meridian Corporation cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Meridian Corporation’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Meridian Corporation does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Meridian Corporation or by or on behalf of Meridian Bank.

    MERIDIAN CORPORATION AND SUBSIDIARIES
    FINANCIAL RATIOS (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)
       
      Three Months Ended
      March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Earnings and Per Share Data:                  
    Net income $ 2,399     $ 5,600     $ 4,743     $ 3,326     $ 2,676  
    Basic earnings per common share $ 0.21     $ 0.50     $ 0.43     $ 0.30     $ 0.24  
    Diluted earnings per common share $ 0.21     $ 0.49     $ 0.42     $ 0.30     $ 0.24  
    Common shares outstanding   11,285       11,240       11,229       11,191       11,186  
                       
    Performance Ratios:                  
    Return on average assets (2)   0.40 %     0.92 %     0.80 %     0.58 %     0.47 %
    Return on average equity (2)   5.57       13.01       11.41       8.25       6.73  
    Net interest margin (tax-equivalent) (2)   3.46       3.29       3.20       3.06       3.09  
    Yield on earning assets (tax-equivalent) (2)   6.83       6.81       7.06       6.98       6.90  
    Cost of funds (2)   3.56       3.71       4.05       4.10       4.00  
    Efficiency ratio   69.16 %     65.72 %     70.67 %     72.89 %     73.90 %
                       
    Asset Quality Ratios:                  
    Net charge-offs (recoveries) to average loans   0.14 %     0.34 %     0.11 %     0.20 %     0.12 %
    Non-performing loans to total loans   2.49       2.19       2.20       1.84       1.93  
    Non-performing assets to total assets   2.07       1.90       1.97       1.68       1.74  
    Allowance for credit losses to:                  
    Total loans and other finance receivables   1.01       0.91       1.09       1.09       1.18  
    Total loans and other finance receivables (excluding loans at fair value) (1)   1.01       0.91       1.10       1.10       1.19  
    Non-performing loans   39.90 %     40.86 %     48.66 %     57.66 %     60.59 %
                       
    Capital Ratios:                  
    Book value per common share $ 15.35     $ 15.26     $ 14.91     $ 14.51     $ 14.30  
    Tangible book value per common share $ 15.03     $ 14.93     $ 14.58     $ 14.17     $ 13.96  
    Total equity/Total assets   6.85 %     7.19 %     7.01 %     6.91 %     6.98 %
    Tangible common equity/Tangible assets – Corporation (1)   6.72       7.05       6.87       6.76       6.82  
    Tangible common equity/Tangible assets – Bank (1)   8.61       9.06       8.95       8.85       8.93  
    Tier 1 leverage ratio – Bank   9.30       9.21       9.32       9.33       9.42  
    Common tier 1 risk-based capital ratio – Bank   10.15       10.33       10.17       9.84       9.87  
    Tier 1 risk-based capital ratio – Bank   10.15       10.33       10.17       9.84       9.87  
    Total risk-based capital ratio – Bank   11.14 %     11.20 %     11.22 %     10.84 %     10.95 %
    (1) See Non-GAAP reconciliation in the Appendix                
    (2) Annualized                  
                       
    MERIDIAN CORPORATION AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)
       
      Three Months Ended
      March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Interest income:          
    Loans and other finance receivables, including fees $ 36,549     $ 37,229     $ 35,339  
    Securities – taxable   1,693       1,684       1,251  
    Securities – tax-exempt   313       314       325  
    Cash and cash equivalents   613       801       300  
    Total interest income   39,168       40,028       37,215  
    Interest expense:          
    Deposits   16,868       18,341       17,392  
    Borrowings and subordinated debentures   2,524       2,388       3,214  
    Total interest expense   19,392       20,729       20,606  
    Net interest income   19,776       19,299       16,609  
    Provision for credit losses   5,212       3,572       2,866  
    Net interest income after provision for credit losses   14,564       15,727       13,743  
    Non-interest income:          
    Mortgage banking income   3,393       5,516       3,634  
    Wealth management income   1,535       1,527       1,317  
    SBA loan income   748       1,143       986  
    Earnings on investment in life insurance   222       224       207  
    Net (loss) gain on sale of MSRs   (52 )     3,992       —  
    Gain on sale of OREO   —       317       —  
    Net change in the fair value of derivative instruments   149       (146 )     75  
    Net change in the fair value of loans held-for-sale   102       (163 )     (2 )
    Net change in the fair value of loans held-for-investment   170       (552 )     (175 )
    Net (loss) gain on hedging activity   21       192       (19 )
    Other   1,036       1,229       1,961  
    Total non-interest income   7,324       13,279       7,984  
    Non-interest expense:          
    Salaries and employee benefits   11,385       12,429       10,573  
    Occupancy and equipment   1,338       2,270       1,233  
    Professional fees   763       1,134       1,498  
    Data processing and software   1,479       1,553       1,532  
    Advertising and promotion   779       839       748  
    Pennsylvania bank shares tax   269       243       274  
    Other   2,730       2,943       2,316  
    Total non-interest expense   18,743       21,411       18,174  
    Income before income taxes   3,145       7,595       3,553  
    Income tax expense   746       1,995       877  
    Net income $ 2,399     $ 5,600     $ 2,676  
               
    Basic earnings per common share $ 0.21     $ 0.50     $ 0.24  
    Diluted earnings per common share $ 0.21     $ 0.49     $ 0.24  
               
    Basic weighted average shares outstanding   11,205       11,158       11,088  
    Diluted weighted average shares outstanding   11,446       11,375       11,201  
                           
    MERIDIAN CORPORATION AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CONDITION (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)
                       
      March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Assets:                  
    Cash and due from banks $ 16,976     $ 5,598     $ 12,542     $ 8,457     $ 8,935  
    Interest-bearing deposits at other banks   113,620       21,864       19,805       15,601       14,092  
    Federal funds sold   629       —       —       —       —  
    Cash and cash equivalents   131,225       27,462       32,347       24,058       23,027  
    Securities available-for-sale, at fair value   185,221       174,304       171,568       159,141       150,996  
    Securities held-to-maturity, at amortized cost   32,720       33,771       33,833       35,089       35,157  
    Equity investments   2,126       2,086       2,166       2,088       2,092  
    Mortgage loans held for sale, at fair value   28,047       32,413       46,602       54,278       29,124  
    Loans and other finance receivables, net of fees and costs   2,071,675       2,030,437       2,008,396       1,988,535       1,956,315  
    Allowance for credit losses   (20,827 )     (18,438 )     (21,965 )     (21,703 )     (23,171 )
    Loans and other finance receivables, net of the allowance for credit losses   2,050,848       2,011,999       1,986,431       1,966,832       1,933,144  
    Restricted investment in bank stock   8,369       7,753       8,542       10,044       8,560  
    Bank premises and equipment, net   12,028       12,151       12,807       13,114       13,451  
    Bank owned life insurance   29,935       29,712       29,489       29,267       29,051  
    Accrued interest receivable   10,345       9,958       10,012       9,973       9,864  
    Other real estate owned   159       159       1,862       1,862       1,703  
    Deferred income taxes   5,136       4,669       3,537       3,950       4,339  
    Servicing assets   4,284       4,382       4,364       11,341       11,573  
    Servicing assets held for sale   —       —       6,609       —       —  
    Goodwill   899       899       899       899       899  
    Intangible assets   2,716       2,767       2,818       2,869       2,920  
    Other assets   24,528       31,382       33,835       26,779       37,023  
    Total assets $ 2,528,586     $ 2,385,867     $ 2,387,721     $ 2,351,584     $ 2,292,923  
                       
    Liabilities:                  
    Deposits:                  
    Non-interest bearing $ 323,485     $ 240,858     $ 237,207     $ 224,040     $ 220,581  
    Interest bearing                  
    Interest checking   161,055       141,439       133,429       130,062       121,204  
    Money market and savings deposits   947,795       913,536       822,837       787,479       797,525  
    Time deposits   696,407       709,535       785,454       773,855       761,386  
    Total interest-bearing deposits   1,805,257       1,764,510       1,741,720       1,691,396       1,680,115  
    Total deposits   2,128,742       2,005,368       1,978,927       1,915,436       1,900,696  
    Borrowings   139,590       124,471       144,880       187,260       145,803  
    Subordinated debentures   49,761       49,743       49,928       49,897       49,867  
    Accrued interest payable   7,404       6,860       7,017       7,709       8,350  
    Other liabilities   29,823       27,903       39,519       28,900       28,271  
    Total liabilities   2,355,320       2,214,345       2,220,271       2,189,202       2,132,987  
                       
    Stockholders’ equity:                  
    Common stock   13,288       13,243       13,232       13,194       13,189  
    Surplus   81,724       81,545       81,002       80,639       80,487  
    Treasury stock   (26,079 )     (26,079 )     (26,079 )     (26,079 )     (26,079 )
    Unearned common stock held by employee stock ownership plan   (1,006 )     (1,006 )     (1,204 )     (1,204 )     (1,204 )
    Retained earnings   112,952       111,961       107,765       104,420       102,492  
    Accumulated other comprehensive loss   (7,613 )     (8,142 )     (7,266 )     (8,588 )     (8,949 )
    Total stockholders’ equity   173,266       171,522       167,450       162,382       159,936  
    Total liabilities and stockholders’ equity $ 2,528,586     $ 2,385,867     $ 2,387,721     $ 2,351,584     $ 2,292,923  
                                           
    MERIDIAN CORPORATION AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND SEGMENT INFORMATION (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)
       
      Three Months Ended
      March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Interest income $ 39,168   $ 40,028   $ 40,319   $ 38,465   $ 37,215
    Interest expense   19,392     20,729     22,077     21,619     20,606
    Net interest income   19,776     19,299     18,242     16,846     16,609
    Provision for credit losses   5,212     3,572     2,282     2,680     2,866
    Non-interest income   7,324     13,279     10,831     9,244     7,984
    Non-interest expense   18,743     21,411     20,546     19,018     18,174
    Income before income tax expense   3,145     7,595     6,245     4,392     3,553
    Income tax expense   746     1,995     1,502     1,066     877
    Net Income $ 2,399   $ 5,600   $ 4,743   $ 3,326   $ 2,676
                       
    Basic weighted average shares outstanding   11,205     11,158     11,110     11,096     11,088
    Basic earnings per common share $ 0.21   $ 0.50   $ 0.43   $ 0.30   $ 0.24
                       
    Diluted weighted average shares outstanding   11,446     11,375     11,234     11,150     11,201
    Diluted earnings per common share $ 0.21   $ 0.49   $ 0.42   $ 0.30   $ 0.24
                                 
      Segment Information
      Three Months Ended March 31, 2025   Three Months Ended March 31, 2024
    (dollars in thousands) Bank   Wealth   Mortgage   Total   Bank   Wealth   Mortgage   Total
    Net interest income $ 19,706     $ 9     $ 61     $ 19,776     $ 16,592     $ (6 )   $ 23     $ 16,609  
    Provision for credit losses   5,212       —       —       5,212       2,866       —       —       2,866  
    Net interest income after provision   14,494       9       61       14,564       13,726       (6 )     23       13,743  
    Non-interest income   1,912       1,535       3,877       7,324       1,874       1,317       4,793       7,984  
    Non-interest expense   12,758       818       5,167       18,743       12,060       833       5,281       18,174  
    Income (loss) before income taxes $ 3,648     $ 726     $ (1,229 )   $ 3,145     $ 3,540     $ 478     $ (465 )   $ 3,553  
    Efficiency ratio   59 %     53 %     131 %     69 %     65 %     64 %     110 %     74 %
                                                                   

    MERIDIAN CORPORATION AND SUBSIDIARIES
    APPENDIX: NON-GAAP MEASURES (Unaudited)
    (Dollar amounts and shares in thousands, except per share amounts)

    Meridian believes that non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts. The non-GAAP disclosure have limitations as an analytical tool, should not be viewed as a substitute for performance and financial condition measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Meridian’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

      Pre-provision Net Revenue Reconciliation
      Three Months Ended
    (Dollars in thousands, except per share data, Unaudited) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Income before income tax expense $         3,145           $         7,595           $         3,553        
    Provision for credit losses           5,212                     3,572                     2,866        
    Pre-provision net revenue $         8,357           $         11,167           $         6,419        
                     
      Pre-Provision Net Revenue Reconciliation
      Three Months Ended
    (Dollars in thousands, except per share data, Unaudited) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Bank $ 8,860     $ 8,205   $ 6,406  
    Wealth   726       571     478  
    Mortgage   (1,229 )     2,391     (465 )
    Pre-provision net revenue $ 8,357     $ 11,167   $ 6,419  
                         
      Allowance For Credit Losses (ACL) to Loans and Other Finance Receivables, Excluding and Loans at Fair Value
      March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Allowance for credit losses (GAAP) $ 20,827     $ 18,438     $ 21,965     $ 21,703     $ 23,171  
                       
    Loans and other finance receivables (GAAP)   2,071,675       2,030,437       2,008,396       1,988,535       1,956,315  
    Less: Loans at fair value   (14,182 )     (14,501 )     (13,965 )     (12,900 )     (13,139 )
    Loans and other finance receivables, excluding loans at fair value (non-GAAP) $ 2,057,493     $ 2,015,936     $ 1,994,431     $ 1,975,635     $ 1,943,176  
                       
    ACL to loans and other finance receivables (GAAP)   1.01 %     0.91 %     1.09 %     1.09 %     1.18 %
    ACL to loans and other finance receivables, excluding loans at fair value (non-GAAP)   1.01 %     0.91 %     1.10 %     1.10 %     1.19 %
                                           
      Tangible Common Equity Ratio Reconciliation – Corporation
      March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Total stockholders’ equity (GAAP) $ 173,266     $ 171,522     $ 167,450     $ 162,382     $ 159,936  
    Less: Goodwill and intangible assets   (3,615 )     (3,666 )     (3,717 )     (3,768 )     (3,819 )
    Tangible common equity (non-GAAP)   169,651       167,856       163,733       158,614       156,117  
                       
    Total assets (GAAP)   2,528,586       2,385,867       2,387,721       2,351,584       2,292,923  
    Less: Goodwill and intangible assets   (3,615 )     (3,666 )     (3,717 )     (3,768 )     (3,819 )
    Tangible assets (non-GAAP) $ 2,524,971     $ 2,382,201     $ 2,384,004     $ 2,347,816     $ 2,289,104  
    Tangible common equity to tangible assets ratio – Corporation (non-GAAP)   6.72 %     7.05 %     6.87 %     6.76 %     6.82 %
                                           
      Tangible Common Equity Ratio Reconciliation – Bank
      March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Total stockholders’ equity (GAAP) $ 220,768     $ 219,119     $ 217,028     $ 211,308     $ 208,319  
    Less: Goodwill and intangible assets   (3,615 )     (3,666 )     (3,717 )     (3,768 )     (3,819 )
    Tangible common equity (non-GAAP)   217,153       215,453       213,311       207,540       204,500  
                       
    Total assets (GAAP)   2,525,029       2,382,014       2,385,994       2,349,600       2,292,894  
    Less: Goodwill and intangible assets   (3,615 )     (3,666 )     (3,717 )     (3,768 )     (3,819 )
    Tangible assets (non-GAAP) $ 2,521,414     $ 2,378,348     $ 2,382,277     $ 2,345,832     $ 2,289,075  
    Tangible common equity to tangible assets ratio – Bank (non-GAAP)   8.61 %     9.06 %     8.95 %     8.85 %     8.93 %
                       
      Tangible Book Value Reconciliation
      March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Book value per common share $ 15.35     $ 15.26     $ 14.91     $ 14.51     $ 14.30  
    Less: Impact of goodwill /intangible assets   0.32       0.33       0.33       0.34       0.34  
    Tangible book value per common share $ 15.03     $ 14.93     $ 14.58     $ 14.17     $ 13.96  

    The MIL Network –

  • MIL-OSI Global: How Project 2025 became the blueprint for Donald Trump’s second term

    Source: The Conversation – UK – By Dafydd Townley, Teaching Fellow in US politics and international security, University of Portsmouth

    Throughout the 2024 presidential election campaign, Donald Trump denied claims he intended to shape his second administration’s policies around Project 2025, the Heritage Foundation’s blueprint for a renewed conservative America. But despite his repeated denials, Trump 2.0 has adopted much of Project 2025 into the White House’s agenda.

    The Heritage Foundation, the right-wing Washington think tank which published Project 2025, has provided policy guidance for Republican presidents since the Reagan administration. Despite the foundation’s longevity, Project 2025 has met with opposition from many quarters.

    The 900-page publication, Mandate for Leadership: the Conservative Promise, was published in 2023. It went largely under the radar until Democrats and civil liberty champions established Stop Project 2025 during the presidential campaign. Essentially, Project 2025 consists of policy recommendations for each department of the executive branch.

    The project has several broad objectives. It aims to reassert presidential power by removing federal agencies’ independence and appointing political loyalists rather than career civil servants. It sets out to dismantle the administrative state by cancelling initiatives and projects that do not match conservative aims.

    It reinforces traditional conservative family values and rolls back on LGBTQ+ and reproductive rights. It removes regulatory constraints aligned with climate and environmental protections and weakens consumer protection laws. And it calls for increased deportations of illegal aliens and the imposition of harsh immigration restrictions.

    Even before he had taken office, Trump and his team sought to replace career-long specialists in federal agencies with those that matched his own beliefs. His transition team used Project 2025 to guide its appointment of officials for the forthcoming administration. Reports quoting insiders within Trump’s team say that the team consulted a database of Trump loyalists created by the Heritage Foundation to fill vacancies.

    Contributors to Project 2025 were also appointed to key roles. These have included including border tsar, Tom Homan, and CIA director John Ratcliffe. Brendan Carr, the Trump-appointed chairman of the Federal Communications Committee, wrote a chapter of Project 2025 on the committee.

    The principal author of Project 2025, Russ Vought, has been appointed as director of the Office of Management and Budget (OMB) – the nerve centre of the federal government’s expenditure. Vought’s influence within the administration has led one journalist to call him “the real mastermind behind Trump’s imperial presidency”.


    How is Donald Trump’s presidency shaping up after 100 days? Here’s what the experts think. If you like what you see, sign up to receive our weekly World Affairs Briefing newsletter.

    The alignment of Trump’s policy decisions and Project 2025’s objectives continued after he was inaugurated on January 20. The raft of executive orders issued by Trump during the first few weeks reflected many of Project 2025’s ambitions.

    CNN analysed the 53 executive orders signed by Trump in his first week as president and concluded that 36 of those orders mirrored proposals within the Heritage Foundation’s brief. The alignment spread across numerous departments.

    Trump’s controversial reciprocal tariffs on US imported goods match Project 2025’s desire for free trade and its belief that the World Trade Organization’s most favoured nation principle is unfair. Although both Trump tariffs and Project 2025 have a foundation in economic nationalism, Trump has favoured a broad and aggressive approach compared to Project 2025’s more targeted aims.

    The savings to federal expenditure proposed by Doge, the unofficial Department of Government Efficiency led by Elon Musk, are also broadly covered within the paper. A theme running throughout Project 2025 is ensuring value for taxpayers by reducing unnecessary government expenditure.

    But while a large amount of Project 2025 has already been incorporated into the administration’s policies, there is still a significant number of recommendations and initiatives that remain to be implemented.

    What’s still to come?

    While Trump has already ended the use of federal taxpayer dollars to fund or promote elective abortion through Executive Order 14182, Project 2025 calls for stronger initiatives to support a pro-life position by threatening to withhold funding to states if they fail to adhere to new guidelines. These penalties could be incurred through states failing to report to the Center for Disease and Control Prevention (CDC) data on how many abortions take place within the state, for example.

    The administration has also not yet matched Project 2025’s calls for increasing the defence budget to 5% of GDP. Earlier this month, however, Trump and his defense secretary, Pete Hegseth, promised that their next budget proposal would include a $1 trillion defence budget. Hegseth posted on X that the money would be spent on ‘lethality and readiness.’

    Trump’s recent criticisms of the refusal by Federal Reserve chair, Jerome Powell, to lower interest rates might suggest that he agrees with Project 2025’s criticism of the Federal Reserve and its recommendation that it be abolished. But the market’s negative reaction to Trump’s attack on Powell looks likely to end any prospect of eradicating the Fed.

    Perhaps a greater concern to Americans is Project 2025’s designs for social security. As part of the focus on fiscal stability, the authors of Project 2025 have recommended that the retirement age be increased from 67 to 69. Social security reforms have been discussed by the administration but yet to be put into place.

    When questioned, Republican legislators have stopped short of telling constituents that Social Security is safe from change. After all, Trump maintained that he has no plans to either reduce social security payments or increase the retirement age.

    However, just this week, Trump and Doge have announced cuts to the Social Security Administration (SSA), the body that administers payments. This has led to concerns for the former SSA director, Martin O’Malley, who suggested that the cuts would mean that future payments of vital benefits might be delayed.

    Where the administration turns next is unclear. There are hundreds of policy recommendations within the 900-page document, some of which have been implemented in full, others only in part.

    Nonetheless, Project 2025 has acted as a blueprint for much of the new Trump administration’s policies, even though the White House has shown some reluctance to incorporate all of the recommendations within the project.

    There are signs, however, that the administration has not yet finished with Project 2025 and that the conservative wishlist continues to influence the administration’s policymaking decisions.

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

    – ref. How Project 2025 became the blueprint for Donald Trump’s second term – https://theconversation.com/how-project-2025-became-the-blueprint-for-donald-trumps-second-term-255149

    MIL OSI – Global Reports –

  • MIL-OSI Security: Lame Deer man sentenced to 2 years in prison for trafficking methamphetamine on the Northern Cheyenne Indian Reservation

    Source: Office of United States Attorneys

    BILLINGS – A Lame Deer man who distributed methamphetamine on the Northern Cheyenne Indian Reservation was sentenced today to 24 months in prison to be followed by 6 years of supervised release, U.S. Attorney Kurt Alme said.

    Shannon Tyrone Seminole, 50, pleaded guilty in October 2024 to one count of possession with intent to distribute methamphetamine.

    U.S. District Judge Susan Watters presided.

    The government alleged in court documents that in the spring of 2022, law enforcement received reports that Shannon Seminole was selling methamphetamine on the Northern Cheyenne Indian Reservation. Agents arranged two controlled purchases from Seminole, one in December 2022 and the other in September 2023. Following the second buy, agents executed a search of Seminole’s residence. During the search, agents seized an airsoft pistol and an AR-15 upper receiver and bolt.

    In an interview, Seminole admitted to providing methamphetamine to the many drug users that helped him with his work. He admitted selling methamphetamine starting when he was released from jail three years prior. His source provided him with a regular supply of meth that he would sell. Seminole also admitted he carried firearms when selling drugs.

    Assistant U.S. Attorney Julie Patten prosecuted the case, and the investigation was conducted by the FBI.

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

    XXX

    MIL Security OSI –

  • MIL-OSI Security: Kansas Woman Indicted for Defrauding Elderly Victims

    Source: Office of United States Attorneys

    KANSAS CITY, Mo. – A Kansas woman was indicted by a federal grand jury for interstate transportation of solen goods.
    Amanda Rutherford, 45, was indicted on one count of interstate transportation of stolen goods for traveling across the state line to sell stolen coins. Rutherford traveled to Missouri to sell over $100,000 in gold and silver coins that belonged to an elderly couple who resided in Kansas. 
    The Dickinson County, Kansas Sheriff’s Office received a report in 2022 that several items, including firearms and collector coins, were stolen from the farm of an elderly couple. Rutherford lived on their property and claimed to be a caregiver for the couple. In early 2024, the Sheriff’s Office received a tip that Rutherford had sold gold coins to a jewelry store in Clay County, Missouri and had received several checks totaling $100,000. The Sheriff’s Office was able to confirm this information and served a search warrant on her vehicle soon after she cashed those checks at the bank. In conjunction with Homeland Security Investigations (HSI), the Sheriff’s Office found newly purchased merchandise, the remainder of the bundled currency, and other coins belonging to the victims in the vehicle. The victims identified the remainder of the coins as part of those that were stolen from their farm in 2022.  
    Under federal law, it is illegal to transport stolen goods across state lines. If convicted, Rutherford faces a prison sentence of up to 10 years and a fine of up to $250,000.

    The charges contained in this indictment are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.

    This case is being prosecuted by Special Assistant United States Attorney Amanda Hanson. It was investigated by the Dickinson County, Kansas Sheriff’s Department and Homeland Security Investigations (HSI).
     

    MIL Security OSI –

  • MIL-OSI Security: Ex-Congressman George Santos Sentenced to 87 Months in Prison for Wire Fraud and Aggravated Identity Theft

    Source: Office of United States Attorneys

    Santos Filed Fraudulent FEC Reports, Embezzled Funds from Campaign Donors, Stole Identities, Charged Credit Cards Without Authorization, Obtained Unemployment Benefits Through Fraud, and Lied in Reports to the U.S. House of Representatives

    Former Congressman George Anthony Devolder Santos was sentenced today by United States District Judge Joanna Seybert at the federal courthouse in Central Islip to 87 months in prison for committing wire fraud and aggravated identity theft.  As part of the sentence, Santos was ordered to pay restitution to his victims in the amount of $373,749.97 and $205,002.97 in forfeiture.  Santos pleaded guilty in August 2024.  

    John J. Durham, United States Attorney for the Eastern District of New York; Matthew R. Galeotti, Head of the Department of Justice’s Criminal Division; Christopher G. Raia, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI); Harry T. Chavis, Jr., Special Agent in Charge, Internal Revenue Service Criminal Investigation, New York (IRS-CI New York); and Anne T. Donnelly, Nassau County District Attorney announced the sentence.

    “Today, George Santos was finally held accountable for the mountain of lies, theft, and fraud he perpetrated.  For the defendant, it was judgment day, and for his many victims including campaign donors, political parties, government agencies, elected bodies, his own family members, and his constituents, it is justice,” stated U.S. Attorney Durham.  “To Mr. Santos and other dishonest individuals of that ilk, who lie, steal identities and commit frauds to get elected to public office, this prosecution speaks to the truth that my Office is committed to aggressively rooting out public corruption and that public officials who criminally abuse our electoral process will end up in a federal prison.”

    Mr. Durham expressed his appreciation to the U.S. Department of Labor, Office of Inspector General and the New York State Department of Labor, for their assistance.

    FBI Assistant Director in Charge Raia stated, “Today, former United States Congressman George Santos is held accountable for his repeated criminal dishonesty – financing his election campaign with ill-obtained funds, stealing COVID unemployment benefits, and providing materially false information in his financial disclosure. Santos abused his authority to garner illicit donations and campaign support; ultimately betraying the public’s trust and violating our democratic systems.  May today’s sentencing emphasize the FBI’s continued commitment to dismantling any fraudulent scheme designed to unlawfully benefit those in positions of power.”

    “George Santos blatantly disregarded campaign finance laws and abused the trust of his constituents and contributors.  While he may have made a mockery of his position in public office, today’s sentencing is justice for those he has wronged.  CI New York proudly worked with the Eastern District of New York, the FBI and Nassau County DA’s office to ensure that Santos faces the consequences of his years of deception,” stated IRS-CI New York Special Agent in Charge Chavis.

    “George Santos spent his brief career in public service conning his donors and constituents until the deceit caught up to him and he was exposed as an opportunist and a fraud.  Today’s lengthy prison sentence is a just ending for a weaver of lies who believed he was above the law,” stated Nassau County District Attorney Donnelly. “Being elected to represent any community is accepting a solemn responsibility and a position of great trust. George Santos failed the people he was elected to represent in Nassau County and Queens.  He broke that trust and traded in his integrity for designer clothes and a luxury lifestyle. I will continue to work with my partners to root out public corruption and ensure that the crucial standards to which we hold our elected officials and public institutions are upheld.” 

    The counts to which Santos pled guilty relate to the following criminal scheme, as set forth in the superseding indictment:

    The Party Program Scheme

    During the 2022 election cycle, Santos was a candidate for the United States House of Representatives in New York’s Third Congressional District.  Nancy Marks, who pleaded guilty on October 5, 2023 to related conduct, was the treasurer for his principal congressional campaign committee, Devolder-Santos for Congress.  During this election cycle, Santos and Marks devised and executed a fraudulent scheme to obtain money for the campaign by submitting materially false reports to the Federal Election Commission (FEC), in which they inflated the campaign’s fundraising numbers for the purpose of misleading the FEC, a national party committee, and the public.

    The purpose of the scheme was to ensure that Santos and his campaign qualified for a program administered by the national party committee to provide financial and logistical support to Santos’s campaign.  To qualify for the program, Santos had to demonstrate, among other things, that his congressional campaign had raised at least $250,000 from third-party contributors in a single quarter.

    To create the public appearance that his campaign had met that financial benchmark and was otherwise financially viable, Santos and Marks agreed to falsely report to the FEC that at least 11 of their family members had made significant financial contributions to the campaign.  In fact, Santos and Marks both knew that these individuals had neither made the reported contributions nor given authorization for their personal information to be included in such false public reports.  In addition, Santos and Marks knew that the national party committee relied on FEC fundraising data to evaluate candidates’ qualification for the program, and agreed to falsely report to the FEC that Santos had loaned the campaign significant sums of money, when, in fact, Santos had not made the reported loans and, at the time the loans were reported, did not have the funds necessary to make such loans.  These falsely reported loans included one for $500,000 when in fact Santos had less than $8,000 in his personal and business bank accounts.

    Through the execution of this scheme, Santos and Marks ensured that Santos met the necessary financial benchmarks to qualify for the program administered by the national party committee.  As a result of qualifying for the program, the congressional campaign received significant financial support.

    As part of his plea agreement, Santos stipulated that he had engaged in the following additional criminal conduct, as set forth in the superseding indictment and other court filings, and agreed that this criminal conduct would be considered by the Court at the time of sentencing:

    The Credit Card Fraud Scheme

    Between approximately July 2020 and October 2022, Santos devised and executed a fraudulent scheme to steal the personal identity and financial information of contributors to his campaign.  He then repeatedly charged contributors’ credit cards without their authorization.  Because of these unauthorized transactions, funds were transferred to Santos’s campaign, to the campaigns of other candidates for elected office, and to his own bank account.  To conceal the true source of these funds and to circumvent campaign contribution limits, Santos falsely represented in FEC filings that some of the campaign contributions were made by other persons, such as his relatives or associates, rather than the true cardholders.  Santos did not have authorization to use their names in this way.  In furtherance of the scheme, Santos sought out victims he knew were elderly persons suffering from cognitive impairment or decline.

    Fraudulent Political Contribution Solicitation Scheme

    Beginning in September 2022, during his successful campaign for Congress, Santos operated a limited liability company (Company #1) through which he defrauded prospective political supporters.  Santos enlisted a Queens-based political consultant (Person #1) to communicate with prospective donors on Santos’s behalf.  Santos directed Person #1 to falsely tell donors that, among other things, their money would be used to help elect Santos to the House, including by purchasing television advertisements.  In reliance on these false statements, two donors (Contributor #1 and Contributor #2) each transferred $25,000 to Company #1’s bank account, which Santos controlled.

    Shortly after the funds were received into Company #1’s bank account, the money was transferred into Santos’s personal bank accounts—in one instance laundered through two of Santos’s personal accounts.  Santos then used much of that money for personal expenses.  Among other things, Santos used the funds to make personal purchases, including of designer clothing, to withdraw cash, to discharge personal debts, and to transfer money to his associates.

    Unemployment Insurance Fraud Scheme

    Beginning in approximately February 2020, Santos was employed as a Regional Director of a Florida-based investment firm (Investment Firm #1).  By late March 2020, in response to the outbreak of COVID-19 in the United States, new legislation was signed into law that provided additional federal funding to assist out-of-work Americans during the pandemic.

    In mid-June 2020, although he was employed and not eligible for unemployment benefits, Santos applied for government assistance through the New York State Department of Labor (NYS DOL), claiming falsely to have been unemployed since March 2020.  From that point until April 2021—during which time Santos was working and receiving a salary on a near-continuous basis, and throughout his first unsuccessful run for Congress—he falsely affirmed each week that he was eligible for unemployment benefits when he was not.  As a result, Santos fraudulently received more than $24,000 in unemployment insurance benefits.

    False Statements to the House of Representatives

    Santos, like all candidates for the House, had a legal duty to file with the Clerk of the United States House of Representatives a Financial Disclosure Statement (House Disclosures) before each election.  In his House Disclosures, Santos was personally required to give a full and complete accounting of his assets, income, and liabilities, among other things.  He certified that his House Disclosures were true, complete, and correct.

    In September 2022, in connection with his second campaign for election to the House, Santos filed a House Disclosure in which he vastly overstated his income and assets.  In this House Disclosure, he falsely certified that during the reporting period:

    • He had earned $750,000 in salary from the Devolder Organization LLC, a Florida‑based entity of which Santos was the sole beneficial owner;
    • He had received between $1,000,001 and $5 million in dividends from the Devolder Organization LLC;
    • He had a checking account with deposits of between $100,001 and $250,000; and
    • He had a savings account with deposits of between $1 million and $5 million.

    These assertions were false: Santos had not received from the Devolder Organization LLC the reported amounts of salary or dividends and did not maintain checking or savings accounts with deposits in the reported amounts.  Further, Santos failed to disclose that, in 2021, he received approximately $28,000 in income from Investment Firm #1 and more than $20,000 in unemployment insurance benefits from the NYS DOL.

    The government’s case is being handled by the Office’s Public Integrity Section and the Criminal Section of the Office’s Long Island Division, along with the Public Integrity Section of the Department of Justice’s Criminal Division.  Assistant United States Attorneys Ryan Harris, Anthony Bagnuola, and Laura Zuckerwise, along with Trial Attorney John Taddei, are in charge of the prosecution, with assistance from Paralegal Specialists Rachel Friedman and Dinora Orozco.

    The Defendant:

    GEORGE ANTHONY DEVOLDER SANTOS
    Age: 36
    Queens, New York

    E.D.N.Y. Docket No. 23-CR-197 (S-2) (JS)

    MIL Security OSI –

  • MIL-OSI Russia: Chair’s Statement: Fifty-First Meeting of the IMFC – Mr. Mohammed Aljadaan, Minister for Finance of Saudi Arabia

    Source: IMF – News in Russian

    April 25, 2025

    In the context of the Fifty-First Meeting of the IMFC that took place in Washington, D.C. on 24th and 25th April, IMFC members welcomed the ongoing efforts to end wars and conflicts, recognizing that peace is essential to restoring stability and fostering sustainable growth. IMFC members underscored that all states must act in a manner consistent with the Purposes and Principles of the UN Charter in its entirety. They acknowledged, however, that the IMFC is not a forum to resolve geopolitical and security issues which are discussed in other fora.

    The world economy is at a pivotal juncture. Following several years of rising concerns over trade, trade tensions have abruptly soared, fueling elevated uncertainty, market volatility, and risks to growth and financial stability. Near-term growth is projected to slow and intensifying downside risks dominate the outlook. We will step up our efforts to strengthen economic resilience and build a more prosperous future. We underline the critical role of the IMF in helping us navigate this challenging environment, as a trusted advisor and champion of strong policy frameworks. We thank our Deputies for discussing the medium-term direction of the IMF during their meeting in Diriyah, Kingdom of Saudi Arabia on April 6-7, 2025, and we agree on the annexed Diriyah Declaration.

     

    1. The world economy is at a pivotal juncture. Following several years of rising concerns over trade, trade tensions have abruptly soared, fueling elevated uncertainty, market volatility, and risks to growth and financial stability. Near-term growth is projected to slow, while disinflation is expected to continue but at a slower pace. Intensifying downside risks dominate the outlook, in an already challenging context of weak growth and high public debt. Wars and conflicts impose a heavy humanitarian and economic toll. Transformative forces, such as digitalization/artificial intelligence, demographic shifts, and climate transitions are creating opportunities, but also challenges.
    1. We will step up our efforts to strengthen economic resilience and break from the low-growth, high-debt path, while harnessing transformative forces, to build a more prosperous future. Comprehensive and well calibrated, well sequenced, and well communicated reforms and policy actions are needed to boost private sector-led growth, productivity, and job creation. We will pursue sound macroeconomic policies and advance structural reforms to improve the business environment, streamline excessive regulation, fight corruption, and mobilize innovation and technology adoption. We will deepen our pivot toward growth-friendly fiscal adjustments to ensure debt sustainability and rebuild buffers where needed. Fiscal adjustments should be mindful of distributional impacts and underpinned by a credible medium-term consolidation plan, while strengthening the efficiency of public spending, protecting the vulnerable, and supporting growth-enhancing public and private investments, taking into account country circumstances. Central banks remain strongly committed to maintaining price stability, in line with their respective mandates, and will continue to adjust their policies in a data dependent and well-communicated manner. We will continue to closely monitor and, as necessary, tackle financial vulnerabilities and risks to financial stability, while harnessing the benefits of innovation. We will work together to improve the resilience of the world economy and build prosperity and ensure the stability and effective functioning of the international monetary system. We will also work together to address excessive global imbalances, support an open, fair and rules-based international economic order, and reinforce supply chain resilience. We reaffirm our April 2021 exchange rate commitments.
    1. We will continue to support countries as they undertake reforms and address debt vulnerabilities and debt service challenges. We acknowledge the specific challenges faced by low-income and vulnerable countries, including fragile and conflict-affected states (FCS) and small developing states (SDS), which are further compounded by recent decrease in official development assistance. We underline the importance of the Poverty Reduction and Growth Trust. We welcome the progress made on debt treatments under the G20 Common Framework (CF) and beyond. We remain committed to addressing global debt vulnerabilities in an effective, comprehensive, and systematic manner, including further stepping up the CF’s implementation in a predictable, timely, orderly, and coordinated manner, and enhancing debt transparency. We look forward to further work at the Global Sovereign Debt Roundtable on ways to address debt vulnerabilities and restructuring challenges. We encourage the IMF and the World Bank to help advance the implementation of the 3-pillar approach to address debt service pressures in countries with sustainable debt, including through supporting them to implement growth-enhancing reforms, mobilize domestic resources, and attract private capital. We look forward to the review of the Low-Income Country Debt Sustainability Framework (LIC-DSF).
    1. We welcome the Managing Director’s Global Policy Agenda.
    1. We support further sharpening the focus of surveillance based on analytical rigor, evenhandedness, and tailored policy advice. We welcome a strong focus on helping countries strengthen their economic resilience and achieve macroeconomic and financial stability and sustainable growth by increasing productivity, addressing macro-critical risks, reducing excessive imbalances, achieving debt sustainability, and mitigating disruptive capital flows and exchange rate volatility. We look forward to the Comprehensive Surveillance Review that will set future surveillance priorities and modalities; and the Review of Financial Sector Assessment Programs to keep financial surveillance in step with evolving financial stability risks.
    1. We look forward to the Review of Program Design and Conditionality to strengthen further the effectiveness of IMF-supported programs and to the Review of the Short-Term Liquidity Line. We also look forward to the assessment of the Global Financial Safety Net, including the role of Regional Financing Arrangements (RFAs), and its ability to safeguard global financial stability.
    1. We support efforts to further strengthen capacity development and to ensure the sustainability of financing. We welcome the IMF’s ongoing work with the World Bank on the Joint Domestic Resource Mobilization Initiative. We welcome a more flexible and tailored delivery, better integrated with policy advice and program design, as set out in the 2024 Capacity Development Strategy Review.
    1. We reaffirm our commitment to a strong, quota-based, and adequately resourced IMF at the center of the GFSN. We have advanced the domestic approvals for our consent to the quota increase under the 16th General Review of Quotas and we look forward to the finalization of this process as soon as possible. We recognize that realignment in quota shares should aim at better reflecting members’ relative positions in the world economy, while protecting the voice of the poorest members. We acknowledge, however, that building consensus among members on quota and governance reforms will require progress in stages. In this regard, we agree on the annexed Diriyah Declaration on the way forward.
    1. We underline the critical role of the IMF in helping us navigate the current challenging environment, as a trusted advisor and champion of strong policy frameworks. We reaffirm our commitment to the institution and look forward to discussing further ways to ensure the Fund remains agile and focused, working in collaboration with partners and other IFIs. We reiterate our appreciation for staff’s high-quality work and dedication to support the membership and continue to encourage further efforts to improve regional and women’s representation within staff positions, and women’s representation at the Executive Board and in Board leadership positions.
    1. Our next meeting is expected to be held in October 2025.

    Annexed Diriyah Declaration

    Recalling the October 2024 IMFC Chair’s Statement, which stated: “We reiterate our strong commitment to the Fund on its 80th anniversary and look forward to further discussing at our next meeting ways to ensure the Fund remains well-equipped to meet future challenges, in line with its mandate, and in collaboration with partners and other IFIs. We ask our Deputies to prepare for this discussion.”; and

    Drawing on the work advanced by our Deputies, who met in the historic town of Diriyah in the Kingdom of Saudi Arabia on April 6-7, 2025, to prepare for this discussion;

    We thank our Deputies and agree on the following Diriyah Declaration on the way forward with regard to IMFC processes and IMF quota and governance reforms.

    *****

    Enhancing IMFC Processes

    We agree that the IMFC plays a key role in the IMF’s governance structure, offering the IMF Board of Governors trusted advice and providing strategic direction to the work and policies of the Fund through structured, high-level, and consensus-driven policy guidance on all relevant issues.

    To enhance its effectiveness as a forum for effective engagement and consensus-building on complex challenges, we agree to further strengthen IMFC processes. To this end, we welcome recent improvements to the format of the Introductory IMFC session and the use of concise, accessible communiqués to effectively convey key IMFC messages to a broader audience. Moreover, we agree that deputy-level meetings focused on strategic rather than routine issues could support the work of IMFC principals.

    We appreciate the value of engagement across the international financial architecture, including with Regional Financing Arrangements (RFAs), to enhance cooperation and strengthen the resilience of the international monetary system.

     

    Strengthening IMF Governance

    We note that the world economy currently faces significant challenges and agree that the IMF makes a vital contribution to international cooperation, providing a long-established and trusted institution for policy discussions informed by rigorous analysis. We stress that the IMF’s mandate to promote macroeconomic and financial stability remains as relevant as ever, and its role to support members in addressing macroeconomic challenges through analysis and policy advice, capacity development, and financing where relevant, is key. We agree on the need to ensure that the institution remains strong, quota-based, adequately resourced, and efficiently managed to fulfil its mandate at the center of the global financial safety net.

    We agree that a strong, inclusive, and representative governance framework is fundamental to maintaining the Fund’s credibility and legitimacy among its diverse membership. Strengthening IMF governance will support its continued ability to effectively promote consensus among the membership in addressing global challenges. These efforts are also essential to fostering multilateralism and international cooperation.

    Given the strategic importance of governance reforms, we recognize that progress toward consensus should be made in stages. In this context, we agree to develop as a first step a set of general principles to guide future discussions and help foster convergence of views. Work on these principles should be completed in a timely manner to help ensure the efficient progression of future General Reviews of Quotas (GRQs), including under the 17th GRQ. Establishing these guiding principles would help ensure that governance changes are gradual, widely acceptable, and reflective of the interests of the entire membership, as well as maintain the Fund’s financial soundness.

    The Way Forward

    We agree that implementation of the 16th GRQ remains a priority. We recognize that realignment in quota shares should aim at better reflecting members’ relative positions in the world economy, while protecting the voice of the poorest members. To build consensus on future governance reforms, including under the 17th GRQ, we call on the Executive Board to develop, by the 2026 Spring Meetings, a set of principles to guide future discussions on IMF quotas and governance, drawing from the deliberations by IMFC Deputies during their meeting in Diriyah, Kingdom of Saudi Arabia on April 6-7, 2025. We look forward to a discussion of the status of advancement of this work at our next meeting. We ask our Deputies to prepare for this discussion.

    INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE

     ATTENDANCE 

    Chair

    Mohammed Aljadaan, Minister of Finance, Saudi Arabia

    Managing Director

    Kristalina Georgieva

    Members or Alternates

    Ayman Alsayari, Governor of the Saudi Central Bank, Saudi Arabia (Alternate for Mohammed Aljadaan, Minister of Finance, Saudi Arabia)

    Mohammed bin Hadi Al Hussaini, Minister of State for Financial Affairs, United Arab Emirates

    Edgar Amador Zamora, Minister of Finance and Public Credit, Mexico

    Scott Bessent, Secretary of the Treasury, United States

    Edouard Normand Bigendako, Governor, Bank of the Republic of Burundi

    Luis Caputo, Minister of Economy, Argentina

    Tiff Macklem, Governor of the Bank of Canada (Alternate for Francois-Philippe Champagne, Minister of Finance, Canada)

    Sang Mok Choi, Deputy Prime Minister and Minister of Economy and Finance, Republic of Korea

    Giancarlo Giorgetti, Minister of Economy and Finance, Italy

    Gabriel Galipolo, Governor, Central Bank of Brazil (Alternate for Fernando Haddad, Minister of Finance, Brazil)

    Jan Jambon, Deputy Prime Minister and Minister of Finance, Pensions, National Lottery and Federal Culture Institutions, Belgium

    Katsunobu Kato, Minister of Finance, Japan

    Daniela Stoffel, State Secretary for International Finance, Federal Department of Finance, Switzerland (Alternate for Karin Keller-Sutter, Minister of Finance, Switzerland)

    Lesetja Kganyago, Governor, South African Reserve Bank, South Africa

    Jörg Kukies, Federal Minister of the Ministry of Finance, Germany

    François Villeroy de Galhau, Governor of the Bank of France (Alternate for Eric Lombard, Minister for the Economy, Finance and Industrial and Digital Sovereignty, France)

    Adebayo Olawale Edun, Minister of Finance and the Coordinating Minister of the Economy, Nigeria

    Gongsheng Pan, Governor of the People’s Bank of China

    Rachel Reeves, Chancellor of the Exchequer, H.M. Treasury, United Kingdom

    Pavel Snisorenko, Director, Department of International Financial Relations (Alternate for Anton Siluanov, Minister of Finance, Russian Federation)

    Sanjay Malhotra, Governor, Reserve Bank of India (Alternate for Nirmala Sitharaman, Minister of Finance, India)

    Mehmet Simsek, Minister of Treasury and Finance, Republic of Türkiye

    Salah-Eddine Taleb, Governor, Bank of Algeria

    Perry Warjiyo, Governor, Bank of Indonesia

    Ida Wolden Bache, Governor, Bank of Norway

    Observers

    Agustín Carstens, General Manager, Bank for International Settlements (BIS)

    Elisabeth Svantesson, Chair, Development Committee (DC) and Minister for Finance, Sweden

    Christine Lagarde, President, European Central Bank (ECB)

    Valdis Dombrovskis, Commissioner for Economy and Productivity, European Commission (EC)

    Klaas Knot, Chair, Financial Stability Board (FSB) and President of De Nederlandsche Bank

    Celeste Drake, Deputy Director-General, International Labour Organization (ILO)

    Mathias Cormann, Secretary-General, Organisation for Economic Co-operation and Development (OECD)

    Mohannad Alsuwaidan, Economic Analyst, Petroleum Studies Department, Organization of the Petroleum Exporting Countries (OPEC)

    Achim Steiner, UNDP Administrator, United Nations (UN)

    Rebeca Grynspan, Secretary-General, United Nations Conference on Trade and Development (UNCTAD)

    Ajay Banga, President of the World Bank Group, The World Bank (WB)

    Ngozi Okonjo-Iweala, Director-General, World Trade Organization (WTO)

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/04/25/pr-123-imfc-chairs-statement-fifty-first-meeting-of-the-imfc

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Security: Two North Dakota Men Charged with Credit Union Robbery in Eagle Butte, South Dakota

    Source: Office of United States Attorneys

    PIERRE – United States Attorney Alison J. Ramsdell announced that a federal grand jury has indicted two New Town, North Dakota, men with Credit Union Robbery.

    A federal grand jury indicted Jason Cook, age 40, and Conrad DeMarce, age 37, in April 2025. They appeared before U.S. Magistrate Judge Mark A. Moreno on April 21, 2025, and pleaded not guilty to the Indictment.

    The maximum penalty upon conviction is up to 20 years in custody and/or a $250,000 fine, three years of supervised release, and $100 to the Federal Crime Victims Fund. Restitution may also be ordered.

    On April 8, 2025, Cook and DeMarce are alleged to have taken money from the Black Hills Federal Credit Union in Eagle Butte by force, violence, and intimidation.

    The charge is merely an accusation and Cook and DeMarce are presumed innocent until and unless proven guilty.

    The investigation is being conducted by the FBI and the Cheyenne River Sioux Tribe Law Enforcement Services. Assistant U.S. Attorney Wayne Venhuizen is prosecuting the case. 

    Cook and DeMarce were remanded to the custody of the U.S. Marshals Service pending trial. A trial date has been scheduled for June 30, 2025.

    MIL Security OSI –

  • MIL-OSI Global: In talking with Tehran, Trump is reversing course on Iran – could a new nuclear deal be next?

    Source: The Conversation – Global Perspectives – By Jeffrey Fields, Associate Professor of the Practice of International Relations, USC Dornsife College of Letters, Arts and Sciences

    A mural on the outer walls of the former US embassy in Tehran depicts two men in negotiation. Majid Saeedi/Getty Images

    Negotiators from Iran and the United States are set to meet again in Oman on April 26, prompting hopes the two countries might be moving, albeit tentatively, toward a new nuclear accord.

    The scheduled talks follow the two previous rounds of indirect negotiations that have taken place under the new Trump administration. Those discussions were deemed to have yielded enough progress to merit sending nuclear experts from both sides to begin outlining the specifics of a potential framework for a deal.

    The development is particularly notable given that Trump, in 2018, unilaterally walked the U.S. away from a multilateral agreement with Iran. That deal, negotiated during the Obama presidency, put restrictions on Tehran’s nuclear program in return for sanctions relief. Trump{,} instead turned to a policy that involved tightening the financial screws on Iran through enhanced sanctions while issuing implicit military threats.

    But that approach failed to disrupt Iran’s nuclear program.

    Now, rather than revive the maximum pressure policy of his first term, Trump – ever keen to be seen as a dealmaker – has given his team the green light for the renewed diplomacy and even reportedly rebuffed, for now, Israel’s desire to launch military strikes against Tehran.

    Jaw-jaw over war-war

    The turn to diplomacy returns Iran-US relations to where they began during the Obama administration, with attempts to encourage Iran to curb or eliminate its ability to enrich uranium.

    Only this time, with the U.S. having left the previous deal in 2018, Iran has had seven years to improve on its enrichment capability and stockpile vastly more uranium than had been allowed under the abandoned accord.

    As a long-time expert on U.S. foreign policy and nuclear nonproliferation, I believe Trump has a unique opportunity to not only reinstate a similar nuclear agreement to the one he rejected, but also forge a more encompassing deal – and foster better relations with the Islamic Republic in the process.

    The front pages of Iran’s newspapers in a sidewalk newsstand in Tehran, Iran, on April 13, 2025.
    Alireza/Middle East Images/AFP via Getty Images

    There are real signs that a potential deal could be in the offing, and it is certainly true that Trump likes the optics of dealmaking.

    But an agreement is by no means certain. Any progress toward a deal will be challenged by a number of factors, not least internal divisions and opposition within the Trump administration and skepticism among some in the Islamic Republic, along with uncertainty over a succession plan for the aging Ayatollah Khamenei.

    Conservative hawks are still abundant in both countries and could yet derail any easing of diplomatic tensions.

    A checkered diplomatic past

    There are also decades of mistrust to overcome.

    It is an understatement to say that the U.S. and Iran have had a fraught relationship, such as it is, since the Iranian revolution of 1979 and takeover of the U.S. embassy in Tehran the same year.

    Many Iranians would say relations have been strained since 1953, when the U.S. and the United Kingdom orchestrated the overthrow of Mohammad Mossadegh, the democratically elected prime minister of Iran.

    Washington and Tehran have not had formal diplomatic relations since 1979, and the two countries have been locked in a decadeslong battle for influence in the Middle East. Today, tensions remain high over Iranian support for a so-called axis of resistance against the West and in particular U.S. interests in the Middle East. That axis includes Hamas in Palestine, Hezbollah in Lebanon and the Houthis in Yemen.

    For its part, Tehran has long bristled at American hegemony in the region, including its resolute support for Israel and its history of military action. In recent years that U.S. action has included the direct assaults on Iranian assets and personnel. In particular, Tehran is still angry about the 2020 assassination of Qassem Soleimani, the head of the Quds Force of the Islamic Revolutionary Guard Corps.

    Standing atop these various disputes, Iran’s nuclear ambitions have proved a constant source of contention for the United States and Israel, the latter being the only nuclear power in the region.

    The prospect of warmer relations between the two sides first emerged during the Obama administration – though Iran sounded out the Bush administration in 2003 only to be rebuffed.

    U.S. diplomats began making contact with Iranian counterparts in 2009 when Undersecretary of State for Political Affairs William Burns met with an Iranian negotiator in Geneva. The so-called P5+1 began direct negotiations with Iran in 2013. This paved the way for the eventual Iran nuclear deal, or Joint Comprehensive Plan of Action (JCPOA), in 2015. In that agreement – concluded by the U.S., Iran, China, Russia and a slew of European nations – Iran agreed to restrictions on its nuclear program, including limits on the level to which it could enrich uranium, which was capped well short of what would be necessary for a nuclear weapon. In return, multilateral and bilateral U.S. sanctions would be removed.

    Many observers saw it as a win-win, with the restraints on a burgeoning nuclear power coupled with hopes that greater economic engagement with the international community that might temper some of Iran’s more provocative foreign policy behavior.

    Yet Israel and Saudi Arabia worried the deal did not entirely eliminate Iran’s ability to enrich uranium, and right-wing critics in the U.S. complained it did not address Iran’s ballistic missile programs or support for militant groups in the region.

    Benjamin Netanyahu, Prime Minister of Israel, draws a red line on a graphic of a bomb while discussing Iran at the United Nations on Sept. 27, 2012.
    Mario Tama/Getty Images

    When Trump first took office in 2016, he and his foreign policy team pledged to reverse Obama’s course and close the door on any diplomatic opening. Making good on his pledge, Trump unilaterally withdrew U.S. support for the JCPOA despite Iran’s continued compliance with the terms of the agreement and reinstated sanctions.

    Donald the dealmaker?

    So what has changed? Well, several things.

    While Trump’s withdrawal from the JCPOA was welcomed by Republicans, it did nothing to stop Iran from enhancing its ability to enrich uranium.

    Meanwhile, Saudi Arabia, eager to transform its image and diversify economically, now supports a deal it opposed during the Obama administration.

    In this second term, Trump’s anti-Iran impulses are still there. But despite his rhetoric of a military option should a deal not be struck, Trump has on numerous occasions stated his opposition to U.S. involvement in another war in the Middle East.

    In addition, Iran has suffered a number of blows in recent years that has left it more isolated in the region. Iranian-aligned Hamas and Hezbollah have been seriously weakened as a result of military action by Israel. Meanwhile, strikes within Iran by Israel have shown the potential reach of Israeli missiles – and the apparent willingness of Prime Minister Benjamin Netanyahu to use them. Further, the removal of President Bashar al-Assad in Syria has deprived Iran of another regional ally.

    Tehran is also contending with a more fragile domestic economy than it had during negotiations for JCPOA.

    With Iran weakened regionally and Trump’s main global focus being China, a diplomatic avenue with Iran seems entirely in line with Trump’s view of himself as a dealmaker.

    A deal is not a given

    With two rounds of meetings completed and the move now to more technical aspects of a possible agreement negotiated by experts, there appears to be a credible window of opportunity for diplomacy.

    This could mean a new agreement that retains the core aspects of the deal Trump previously abandoned. I’m not convinced a new deal will look any different from the previous in terms of the enrichment aspect.

    There are still a number of potential roadblocks standing in the way of any potential deal, however.

    As was the case with Trump’s meetings with North Korean leader Kim Jong-un during his first term, the president seems to be less interested in details than spectacle. While it was quite amazing for an American leader to meet with his North Korean counterpart, ultimately, no policy meaningfully changed because of it.

    On Iran and other issues, the president displays little patience for complicated policy details. Complicating matters is that the U.S. administration is riven by intense factionalism, with many Iran hawks who would be seemingly opposed to a deal – including Secretary of State Marco Rubio and national security adviser Mike Waltz. They could rub up against newly confirmed Undersecretary of Defense for policy Elbridge Colby and Vice President JD Vance, both of whom have in the past advocated for a more pro-diplomacy line on Iran.

    As has become a common theme in Trump administration foreign policy – even with its own allies on issues like trade – it’s unclear what a Trump administration policy on Iran actually is, and whether a political commitment exists to carry through any ultimate deal.

    Top Trump foreign policy negotiator Steve Witkoff, who has no national security experience, has exemplified this tension. Tasked with leading negotiations with Iran, Witkoff has already having been forced to walk back his contention that the U.S. was only seeking to cap the level of uranium enrichment rather than eliminate the entirety of the program.

    For its part, Iran has proved that it is serious about diplomacy, previously having accepted Barack Obama’s “extended hand.”

    But Tehran is unlikely to capitulate on core interests or allow itself to be humiliated by the terms of any agreement.

    Ultimately, the main question to watch is whether a deal with Iran is to be concluded by pragmatists – and then to what extent, narrow or expansive – or derailed by hawks within the administration.

    Jeffrey Fields receives funding from the Carnegie Corporation of New York.

    – ref. In talking with Tehran, Trump is reversing course on Iran – could a new nuclear deal be next? – https://theconversation.com/in-talking-with-tehran-trump-is-reversing-course-on-iran-could-a-new-nuclear-deal-be-next-254770

    MIL OSI – Global Reports –

  • MIL-OSI USA: Senator Baldwin Statement on FBI’s Arrest of Milwaukee Judge

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin
    Published: 04.25.2025

    WASHINGTON, D.C. — U.S. Senator Tammy Baldwin (D-WI) released the following statement on the news of the Federal Bureau of Investigation (FBI) arresting Milwaukee County Circuit Judge Hannah Dugan:
    “In the United States, we have a system of checks and balances and separations of power for damn good reasons. The President’s administration arresting a sitting judge is a gravely serious and drastic move, and it threatens to breach those very separations of power. Make no mistake, we do not have kings in this country and we are a Democracy governed by laws that everyone must abide by. By relentlessly attacking the judicial system, flouting court orders, and arresting a sitting judge, this President is putting those basic Democratic values that Wisconsinites hold dear on the line. While details of this exact case remain minimal, this action fits into the deeply concerning pattern of this President’s lawless behavior and undermining courts and Congress’s checks on his power.”

    MIL OSI USA News –

  • MIL-OSI Security: Nebraska Woman Sentenced to 20 Years in Federal Prison for Conspiring to Distribute Methamphetamine in the Pine Ridge Reservation and Rapid City

    Source: Office of United States Attorneys

    RAPID CITY – United States Attorney Alison J. Ramsdell announced today that U.S. District Court Judge Karen E. Schreier has sentenced a Chadron, Nebraska, woman convicted of Conspiracy to Distribute a Controlled Substance.

    Casey Lopez, age 51, was sentenced on April 21, 2025, to 20 years in federal prison, followed by five years of supervised release, and a special assessment to the Federal Crime Victims Fund in the amount of $100.

    Lopez was indicted by a federal grand jury in February 2024 and pleaded guilty on January 17, 2025.

    Lopez and others distributed significant amounts of methamphetamine in Pine Ridge and Rapid City.  Lopez was a leader in the conspiracy, setting prices, organizing the distribution, and enabling a Mexican cartel to gain inroads into the Pine Ridge Reservation. In sentencing Lopez, Judge Schreier denounced how Lopez’ actions severely damaged the community. Judge Schreier also noted the drugs Lopez was distributing came from Mexican cartels and constituted 100% pure methamphetamine.

    This case was investigated by Oglala Sioux Tribe Department of Public Safety, Bureau of Indian Affairs, Drug Enforcement Administration and the FBI. Assistant U.S. Attorney Anna Lindrooth prosecuted the case.

    Lopez was immediately remanded to the custody of the U.S. Marshals Service following sentencing. 

     

     

    MIL Security OSI –

  • MIL-OSI Security: St. Francis Man Sentenced to 7 ½ Years in Federal Prison for Larceny in the Rosebud Indian Reservation

    Source: Office of United States Attorneys

    PIERRE – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Eric C. Schulte has sentenced a St. Francis, South Dakota, man convicted of two counts of Larceny. The sentencing took place on April 22, 2025.

    Larry White Lance, age 29 was sentenced to seven years and six months in federal prison, followed by three years of supervised release, and ordered to pay a $200 special assessment to the Federal Crime Victims Fund.

    White Lance was indicted by a federal grand jury in May 2023. He pleaded guilty on January 29, 2025.

    The conviction stems from White Lance breaking into a home in St. Francis in June 2022 and steeling a tool chest, tools, and other property.

    This matter was prosecuted by the U.S. Attorney’s Office because the Major Crimes Act, a federal statute, mandates that certain violent crimes alleged to have occurred in Indian Country be prosecuted in Federal court as opposed to State court.

    This case was investigated by the Rosebud Sioux Tribe Law Enforcement Services and the FBI. Assistant U.S. Attorney Kirk Albertson prosecuted the case.

    White Lance was immediately remanded to the custody of the U.S. Marshals Service. 

    MIL Security OSI –

  • MIL-OSI Security: FBI Sees Increase of Government Impersonation Scams Targeting South Florida Residents

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

    MIAMI—The FBI Miami Field Office is aware of a recent increase of scam attempts targeting South Florida residents. Callers identify themselves as a federal officer and typically instruct people to wire or mail “settlement” money or to assist law enforcement with an investigation against a bank. These calls are fraudulent, and call recipients should hang up immediately. Federal agencies do not call or email individuals threatening them to send money or to use their personal money as “bait” for a federal investigation.

    There are many versions of this government impersonation scam, but they are all variations of the same tactic. This type of scam has been around for years and targets people across the nation.

    “Criminals use law enforcement impersonation scams as a means of confusing and unnerving their intended victims in order to get them to act rashly,” said Supervisory Special Agent Michael Brown. “If you receive one of these calls, hang up, and report the incident to the FBI’s Internet Crime Complaint Center (IC3.GOV). In the 2024 IC3 report released this week, Florida residents reported 1,579 impersonation scams with an estimated loss of over $12 million.”

    In addition, a scam phone call may seem legitimate because scammers can spoof caller ID information. It may appear the call is coming from a federal agency’s legitimate phone number or from Washington, D.C., or may show the name of a federal agency.

    To protect yourself from falling victim to this scam, be wary of answering phone calls from numbers you do not recognize. Do not send money to anybody that you do not personally know and trust. Never give out your personal information, including banking information.

    Anyone who feels they were the victim of this, or any other online scam should report the incident immediately at ic3.gov. More information about government impersonation schemes and other online fraud schemes can be found at https://www.fbi.gov/scams-and-safety/common-fraud-schemes.

    For the latest annual report from the Internet Crime Complaint Center go here: https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf

    MIL Security OSI –

  • MIL-OSI Security: Kidnapping Carjacker Sentenced to 180 Months in Federal Prison

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

    WASHINGTON – David Zanders, 23, of the District of Columbia, was sentenced today to 180 months in federal prison in connection with a May 1, 2022, kidnapping and a subsequent carjacking the same day.

                The sentencing was announced U.S. Attorney Edward R. Martin Jr., FBI Special Agent in Charge Sean Ryan of the Washington Field Office Criminal and Cyber Division, and Chief Pamela Smith of the Metropolitan Police Department.

                Zanders pleaded guilty on November 1, 2024, to one count of kidnapping and one count of carjacking in the U.S. District Court. In addition to the 180-month prison term, the Honorable Royce C. Lamberth ordered Zanders to serve five years of supervised release.

                According to court documents, in the early morning hours of May 1, 2022, Zanders and a friend kidnapped two males outside of a nightclub located on the 600 block of Florida Avenue, NW, Washington, D.C.  Zanders and the friend pretended to be working for Uber and the two male victims got into Zander’s vehicle. Shortly thereafter, Zanders pulled over on a neighborhood street in the District, pointed a firearm at the two victims, and robbed them of their phones and money. Zanders then drove them to various ATMs in an attempt to withdraw money using ttheir credit cards.

                One of the victims escaped at a gas station in Washington D.C. as Zanders and the other suspect went looking for a cash machine. After the first victim escaped, Zander drove the remaining victim to a supermarket in Maryland. Zanders and the friend withdrew money from an ATM at the supermarket using the remaining victim’s ATM card. They then drove to another location in Maryland and released the victim.

                That same evening, Zanders gathered with several associates on the 900 block of Longfellow Street, NW. Zanders had arranged a meeting to sell a vehicle to another party, but in fact planned to steal the would-be buyer’s own car. When two new victims arrived in a green Dodge Charger, Zanders pulled out a gun, threatened to shoot, and demanded phones, money and keys. One of Zanders’ associates drove away with the 2019 green Dodge Charger. Zanders and the remaining associates then fled in their own vehicles.   

                Zanders was arrested on November 18, 2022, and has been detained since.

                This case was investigated by the MPD’s Carjacking Task Force and the FBI’s Washington Field Office’s Violent Crimes Task Force. Valuable assistance was provided by the Prince George’s County Police Department.

                The case is being prosecuted by Assistant U.S. Attorneys Shehzad Akhtar and Cameron Tepfer and by former Special Assistant U.S. Attorney Lauren Renaud. The case initially was investigated and indicted by Assistant U.S. Attorney Thomas Strong.

    22cr0287

    MIL Security OSI –

  • MIL-OSI Security: Serial Armed Robber Who Targeted Delivery Workers in D.C., Maryland, is Sentenced to 16 Years in Federal Prison

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

    WASHINGTON – Rubin Raphael Bordeaux, 36, of the District, was sentenced today in U.S. District Court to 192 months in prison for his role a string of armed carjackings that targeted delivery workers in November 2023. At the height of the criminal spree, Bordeaux’s escalating violence culminated in a shooting, an eight-mile chase in an Amazon van, a vehicle collision, and a foot chase.

               The sentence was announced by U.S. Attorney Edward R. Martin Jr., and FBI Special Agent in Charge Sean T. Ryan of the Washington Field Office Criminal and Cyber Division.

               Bordeaux pleaded guilty on September 12, 2024, to carjacking and to possessing a firearm during a crime of violence. In addition to the 192-month prison term, U.S. District Court Judge Jia M. Cobb ordered Bordeaux to serve three years of supervised release.

               According to court documents, Bordeaux and his co-defendants specifically targeted delivery drivers in a spree of armed carjackings and robberies over four days across the District of Columbia and Maryland. 

               On November 9, 2023, around 1:30 p.m., a UPS driver was in the back of her work truck in Upper Marlboro, Maryland sorting packages. As she was working, Bordeaux and a co-conspirator were lying in wait, planning to rob her at gunpoint. As the UPS driver continued her job, the co-conspirator saw his opportunity and, with a silver firearm in hand, jumped into the back of the UPS truck. The co-conspirator told the UPS driver to “calm down. I just need your wallet and keys.” He took the UPS driver’s keys and ordered her to show him how to operate the UPS truck. In fear for her life, the UPS driver complied. The co-conspirator then threw the UPS driver’s phone in her direction and took off driving the truck. Bordeaux was not far behind. He followed the UPS truck in a tan pickup truck. Eventually Bordeaux and his co-conspirator stopped to offload packages from the UPS truck and abandoned the vehicle in Upper Marlboro, Maryland. 

                Just one hour later, Bordeaux and a co-conspirator struck again in Oxon Hill, Maryland. This time, they targeted a FedEx driver who was finishing a break. Bordeaux and the co-conspirator used their pickup truck to box-in the FedEx driver. Bordeaux jumped out of the pickup, quickly approached the FedEx driver, displayed a revolver, and demanded the keys. The FedEx driver gave up the company truck, and Bordeaux, followed by his co-conspirator in the tan pickup truck, drove off. Law enforcement recovered the FedEx truck in Washington, D.C., after it had been stripped of multiple packages. 

               Four days later, on November 13, 2023, Bordeaux and a co-conspirator targeted another work vehicle. On that day, around 5:24 a.m., an Amtrak driver was seated in the rear passenger seat of a conspicuously marked Amtrak truck. The Amtrak driver and his two coworkers, who were also in the vehicle, were planning to start their workday with breakfast from a restaurant. While waiting inside the running vehicle, the Amtrak driver noticed that a man with a mask had walked up to the truck. Believing this person was a coworker, the Amtrak driver got out of the truck. The masked individual was not his coworker. 

               Bordeaux ordered the Amtrak driver to “give me the truck.” When the Amtrak driver was slow to react, Bordeaux brandished a black gun and demanded again, “give me the truck.” The Amtrak driver surrendered the vehicle. Bordeaux got into the driver seat and drove away. As he did so, he was followed by a gray sedan. 

               Bordeaux later abandoned the truck in Washington, D.C. after causing $27,883 in damage to the vehicle during the short time he had it in his possession. 

               The next day, on November 14, 2023, Bordeaux and his co-conspirators targeted a shopper and her young child in a department store parking lot in Forestville, Maryland. An individual approached the woman at her car, demanded the keys to her vehicle and then forcefully removed the keys from her hands. The individual fled with the car toward Washington, D.C. 

               Later that day, Bordeaux and three other individuals left the shopper’s vehicle parked in an area of Southeast D.C. As the four walked away, they came upon an Amazon delivery driver, who became Bordeaux’s next target. The Amazon driver was walking to his work van when Bordeaux approached him in the road. A second person from Bordeaux’s group simultaneously walked towards the Amazon driver, who began to run. Bordeaux fired a shot in the Amazon driver’s direction while the other individual also fired at the Amazon driver. Bordeaux’s bullet barely missed the driver, who then stopped and surrendered. Bordeaux went through the Amazon driver’s pockets, demanded “give me them f—- keys” and threatened the driver with “do you want to die?” Bordeaux located the keys and fled in the van while his accomplice ran off in the opposite direction. 

               Behind the wheel of the Amazon van, Bordeaux led the police on an eight-mile-long chase crossing from the District of Columbia into Maryland. While trying to make his getaway, Bordeaux struck numerous vehicles, among them a police car. Once he realized he could not shake the police, Bordeaux stopped the vehicle on a sidewalk in Capitol Heights, Maryland. He attempted to run from law enforcement on foot but was quickly stopped. The keys to the shopper’s carjacked Honda were recovered from Bordeaux’s pocket.

             This case was investigated by the FBI Washington Field Office Violent Crimes Task Force, the Prince George’s County Police Department, and the MPD. The matter is being prosecuted by Assistant U.S. Attorney Meredith Mayer-Dempsey, Special Assistant U.S. Attorney Emily Reeder-Ricchetti, and former Assistant U.S. Attorneys Omeed Ali Assefi and Jacqueline Yarbro.

    24cr76

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  • MIL-OSI Security: Felon Who Hid Loaded, Fully Automatic Handgun in Six-Year-Old Nephew’s Pants Sentenced to Nearly Four Years in Federal Prison

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

    SAN FRANCISCO – Darneko Yates, 30, of Richmond, Calif., was sentenced today to 46 months in federal prison for possession of a firearm by a person convicted of a felony.  U.S. District Judge Araceli Martínez-Olguín handed down the sentence.

    Yates was found guilty of being a felon in possession of a firearm, in violation of 18 U.S.C. § 922(g), following a one-day bench trial on Jan. 17, 2025.  The evidence at trial established that on Aug. 27, 2023, police officers stopped Yates for a vehicle infraction.  Yates’s young nephew and niece were in the backseat of his car.  Police officers discovered that Yates possessed a loaded automatic handgun, which was concealed in the front of his six-year-old nephew’s pants.  At the time, Yates was on parole following three felony convictions for carjacking, solicitation to commit murder, and possessing a loaded firearm.  

    In addition to the prison term, Judge Martinez-Olguín ordered Yates to serve three years of supervised release.

    Acting United States Attorney Patrick D. Robbins and FBI Special Agent in Charge Sanjay Virmani made the announcement.

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

    Assistant U.S. Attorneys Leif Dautch and Richard Ewenstein are prosecuting this case.  The prosecution is the result of an investigation by the FBI, the Contra Costa County Sheriff’s Office, and the San Pablo Police Department.  
     

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  • MIL-OSI Security: Maryland Man Charged With Providing Material Support to a Conspiracy to Murder, Kidnap, and Maim Individuals in Cameroon

    Source: Office of United States Attorneys

    So-Called “Garri Master,” or Master of Mutilation, called for violent attacks against Cameroonian civilian population and raised funds to supply AK-47s to separatist groups.

    Baltimore, Maryland – A federal grand jury has indicted Eric Tano Tataw, 38, of Gaithersburg, Maryland. The Cameroonian national, also known as “the Garri Master,” is charged with conspiring to provide material support to armed separatist groups in Cameroon and making threatening communications to injure or kidnap Cameroonian civilians.

    Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the indictment with Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; Sue J. Bai, Head of the Justice Department’s National Security Division; and Special Agent in Charge Michael McCarthy, U.S. Immigration and Customs Enforcement Homeland Security Investigations (ICE HSI) Maryland.

    According to court documents, multiple armed and violent secessionist groups in the Northwest and Southwest regions of Cameroon are fighting to form a new country called “Ambazonia.” The armed separatist groups sought to achieve secession by not only attacking the Cameroonian military, but also intentionally attacking the civilian population in Cameroon in an attempt to coerce and intimidate the Cameroonian government into allowing these regions to secede. These separatist fighters are frequently referred to as “Amba Boys.”

    “Tataw and his co-conspirators masterminded and financially supported a vicious scheme to overthrow a foreign government. They resorted to an unthinkable level of violence while instilling fear in innocent victims to advance their political agenda,” Hayes said.  “We, along with our law enforcement partners, are committed to relentlessly pursuing anyone who attempts to inflict mayhem on others. Tataw and his co-conspirators demonstrated a total disregard for human life so now they must pay the price.”

    “The defendant is alleged to have ordered horrific acts of violence, including severing limbs, against Cameroonian civilians in support of a violent secessionist movement,” Galeotti said. “This indictment represents the Justice Department’s commitment to hold accountable human rights violators who direct brutal political violence and fundraise for armed militias from the comfort of the United States.”

    “The Justice Department will not tolerate those who help murder, maim, and kidnap,” Bai said. “We will continue to hold accountable those who aim to turn American soil into a staging ground for political violence abroad.”

    As alleged in the indictment, Tataw was a citizen of Cameroon living in Maryland and was a member of the Cameroonian diaspora with a large social media following. Beginning no later than April 2018, Tataw conspired to provide material support and resources — including money, weapons, and personnel — to Amba Boys in Cameroon, and called for the murder, kidnapping, and maiming of Cameroonian civilians. Tataw and his co-conspirators directed the maiming of Cameroonian civilians by severing their limbs, a practice Tataw called “Garriing.” Tataw used the phrase “small Garri” to refer to removing fingers or other small appendages and the phrase “large Garri” to refer to removing large limbs or killing people.  Additionally, Tataw referred to himself as the “Garri Master,” or master of mutilation.

    Tataw and his co-conspirators targeted those believed to be working for or collaborating with the government, including municipal officials, traditional chiefs, and employees of the Cameroon Development Corporation (CDC), a government-owned company that grew, processed, and sold bananas, palm oil, and rubber. As alleged, Tataw personally wrote hundreds of social media posts on Facebook, YouTube, and Twitter calling for attacks against Cameroonian civilians, seeking to raise funds to arm Amba Boys, and threatening those he viewed as cooperating with the Cameroonian government. These social media posts were regularly viewed by tens of thousands of people, including Amba Boys and their leaders, and were often further disseminated by third parties allegedly acting at Tataw’s direction or encouragement.

    Tataw and his co-conspirators solicited and raised funds to supply Amba Boys with firearms, ammunition, explosive materials, and other equipment for enforcing lockdown or “ghost-town” orders and carrying out violent attacks.  A fundraising campaign, known as the “National AK Campaign,” was designed to arm each Amba Boy in Cameroon with an AK-47 rifle.  From about September 2018 through December 2020, Tataw and his co-conspirators raised more than $110,000. Tataw and co-conspirators transferred portions of these funds — either directly or through intermediaries — to Amba Boys located in Cameroon and neighboring Nigeria. Additionally, Tataw communicated directly with Amba Boy leaders on the ground in Cameroon. Tataw also, on multiple occasions, personally took credit for Amba Boys murdering, kidnapping, and maiming civilians in connection with the separatists’ cause.

    An indictment is not a finding of guilt.  All defendants charged by indictment are presumed innocent unless and until proven guilty at a later criminal proceeding.  If convicted, Tataw faces a maximum penalty of 15 years in prison on the material support count and five years in prison on each count of making threatening communications to injure or kidnap. A federal district court judge determines sentencing after considering the U.S. Sentencing Guidelines and other statutory factors.

    U.S. Attorney Hayes commended the HSI Maryland’s Document and Benefit Fraud/El Dorado Task Force, U.S. Department of State’s Diplomatic Security Service, and Federal Bureau of Investigation – Baltimore Field Office for their work in the investigation.  Ms. Hayes also thanked Assistant U.S. Attorneys Christina A. Hoffman and Joseph Wenner; Trial Attorney Chelsea Schinnour of the Criminal Division’s Human Rights and Special Prosecutions Section; and Michael Dittoe and Andrew Briggs, National Security Division, who are prosecuting this case, along with the Justice Department’s Office of International Affairs for their valuable assistance.

    For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach. To report a Maryland-based hate crime, contact the FBI Baltimore field office at (410) 265-8080 or www.tips.fbi.gov. 

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  • MIL-OSI Security: Marathon County Man Sentenced to 7 Years for Conspiring to Traffic Methamphetamine

    Source: Office of United States Attorneys

    MADISON, WIS. – Timothy M. O’Shea, United States Attorney for the Western District of Wisconsin, announced that Dustin P. Brunker, 37, Weston, Wisconsin, was sentenced yesterday by U.S. District Judge William M. Conley to 7 years in federal prison for conspiring to distribute 50 grams or more of methamphetamine. The prison term will be followed by 5 years of supervised release. Brunker pleaded guilty to this charge on January 28, 2025.

    In early 2024, investigators with the Central Wisconsin Narcotics Task Force began investigating a group of individuals who were distributing large quantities of methamphetamine and cocaine in the Marathon County area. Brunker was identified as a distributor for the group.

    Following a series of controlled purchases of methamphetamine involving Brunker in March and April of 2024, task force officers executed a search warrant at a residence that Brunker shared with co-defendant Mercadys A. Perkins in Weston. Officers found over 300 grams of methamphetamine, over $2,000 in cash, drug ledgers, and other drug trafficking paraphernalia during the search.

    Further investigation revealed that between February 18, 2024, and April 12, 2024, a co-conspirator provided Brunker and Perkins approximately 16 pounds of methamphetamine and 6 ounces of cocaine intended for further distribution.

    At the time of these events, Brunker was serving a term of state supervision for two felony cases and out on state bond for a felony drug charge. His state supervision was revoked, and he was sentenced to a total of 3 years in state prison, which he is currently serving. Judge Conley ordered the federal sentence run concurrently with the remainder of Brunker’s state prison sentences.

    At sentencing, Judge Conley called Brunker’s large quantity methamphetamine trafficking egregious. Judge Conley further observed that while Brunker had a lengthy prior record, the conduct in the present case showed an escalation in criminality.

    Three others were charged in connection with this drug trafficking conspiracy. Mercadys Perkins was convicted of conspiracy to distribute 50 grams or more of methamphetamine and sentenced to 6 years in federal prison on April 17, 2025. Joshua Lake and Jessica Colby have pleaded guilty and are scheduled to be sentenced in the coming weeks.

    The charge against Brunker was the result of an investigation conducted by the Federal Bureau of Investigation’s Central Wisconsin Narcotics Task Force comprised of investigators from the FBI, Wisconsin State Patrol, Wisconsin Department of Criminal Investigation, Lincoln County Sheriff’s Office, Marathon County Sheriff’s Office, Portage County Sheriff’s Office, Mountain Bay Police Department, Wausau Police Department and Wisconsin National Guard Counter Drug Program. The ATF Madison Crime Gun Task Force also assisted with the case. The ATF Madison Crime Gun Task Force consists of federal agents from ATF and Task Force Officers from state and local agencies throughout the Western District of Wisconsin. The Marathon County District Attorney’s Office also assisted with the investigation. Assistant U.S. Attorney Steven P. Anderson prosecuted this case. 

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  • MIL-OSI Security: Former Trinidad ISD business manager sentenced to federal prison for theft from school district

    Source: Office of United States Attorneys

    TYLER, Texas – An Orange, Texas man has been sentenced to federal prison for theft from the Trinidad Independent School District, announced Eastern District of Texas Acting U.S. Attorney Abe McGlothin, Jr.

    Brandon Delane Looney, 39, pleaded guilty to theft from a program receiving federal funds and was sentenced to 24 months in federal prison by U.S. District Judge Jeremy D. Kernodle on April 24, 2025.

    According to information presented in court, Looney stole nearly $340,000 from Trinidad ISD between 2017 and 2023 while he served as Trinidad ISD’s business manager. Federal law makes it a crime for someone to steal from an organization receiving more than $10,000 in federal funds annually.  Looney used the stolen funds to purchase personal trips to Walt Disney World and on spending sprees at the Disney Store.  Trinidad ISD is one of the poorest school districts in Texas and suffered adverse financial consequences as a result of Looney’s theft.

    Looney worked with the Financial Litigation Unit of the U.S. Attorney’s Office to liquidate his available assets, including his home, to pay $200,000 of the restitution before sentencing.  The remaining balance of the restitution judgment will be collectible for 20 years after the termination of Looney’s incarceration.

    This case was investigated by FBI’s Tyler Field Office, with assistance from the Tyler Police Department and the Trinidad ISD.  This case was prosecuted by Assistant U.S. Attorney Robert Austin Wells.

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  • MIL-OSI Security: Newtown Man Admits Stealing Nearly $3 Million to Fund His Day Trading Activity

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

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, and Anish Shukla, Acting Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, announced that on April 18, 2025, TIMOTHY MINGIONE, 33, of Newtown, waived his right to be indicted and pleaded guilty before U.S. District Judge Alvin W. Thompson in Hartford to an offense related to his theft of nearly $3 million to fund his day trading activity.

    According to court documents and statements made in court, Mingione assisted investors in the purchase of real estate and then became the designated asset manager for the acquired properties, including overseeing the properties, addressing tenancy issues associated with the real estate, and reviewing property financials.  In this role, Mingione had access to bank accounts required for property management.  Mingione provided purchase and asset manager services for a New York-based real estate company, worked with a syndicate of investors involved in the purchase and management of five real estate properties in Connecticut and Florida, and worked as an asset manager for various other limited liability companies.

    Beginning in approximately April 2023, to fund his day trading activity, particularly in S&P 500 options, Mingione stole from the various business bank accounts he had access to by writing checks against the accounts or by wiring monies from the accounts to his personal trading account with TD Ameritrade.  Mingione tracked the monies he stole and, at times, returned funds to the accounts he had stolen from.  However, by late spring 2024, he had amassed more than $1 million in trading losses and, by the end of September 2024, had stolen nearly $3 million.

    Mingione pleaded guilty to one count of interstate transmission of stolen money, which carries a maximum term of imprisonment of 10 years.  Judge Thompson scheduled sentencing for July 15.

    Mingione has agreed to pay restitution of $ 2,958,203.

    Mingione is released on a $40,000 bond pending sentencing.

    This investigation is being conducted by the Federal Bureau of Investigation and the case is being prosecuted by Assistant U.S. Attorney Christopher W. Schmeisser.

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  • MIL-OSI Security: Federal Inmate Sentenced to Life in Prison for Savage Murder of Cellmate at Terre Haute Federal Correctional Complex

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

    TERRE HAUTE— Joshua T. Mebane, 29, of Silver Spring, Maryland, has been sentenced to life in federal prison for first degree murder. Mebane previously pled guilty in open court on October 23, 2024. 

    According to court documents, in January of 2016, Joshua Mebane was an inmate at the Federal Correctional Complex in Terre Haute, Indiana, serving a 45-year sentence for first degree murder in the District of Columbia. Mebane was also later convicted of murder and attempted murder in Maryland, committed in 2012, for which he received multiple life sentences.   

    On January 26, 2016, inmate Michael Tucker moved into Mebane’s cell. Just two days later, correctional officers went to retrieve Mebane for a medical appointment and called for both inmates to be present at the cell door. According to policy, all inmates in the cell must be handcuffed before opening. As the officers again called for Tucker to be handcuffed, Mebane admitted “My cellie (cell mate) is dead… I killed my cellie on Wednesday.”

    Officers entered the cell to investigate and found Michael Tucker lying face-up in the bottom bunk bed, covered by a blanket. His body was cold to the touch and without a pulse. Life saving measures were initiated by medics but were unsuccessful.

    The medical examiner ruled the official cause of death to be asphyxiation and determined the manner of death as homicide.

    “This life sentence reflects our office’s commitment to justice for all victims, including those who are incarcerated in federal correctional facilities. The horrific murder deserves one of the harshest penalties allowed under the law, and I sincerely hope that the completion of this prosecution brings some measure of closure and peace to Mr. Tucker’s family,” said John E. Childress, Acting United States Attorney for the Southern District of Indiana.

    “The FBI is committed to ensuring the rights and dignity of every victim – no matter where the crimes occur. This kind of violence is inexcusable, and the sentence should serve as a powerful reminder there is no place in our society for such hate,” said FBI Indianapolis Acting Special Agent in Charge Dominique Evans. “The FBI will continue to work with our law enforcement partners to hold offenders accountable and send a clear message that the protection of all individuals from hate-driven violence remains a top priority.”

    “Today’s sentencing sends a clear message – those who threaten or harm others will be held accountable. The safety and security of our facilities will always be the FBOP’s top priority in our mission to ensure public safety,” said a BOP Spokesperson.

    The Federal Bureau of Investigation and Bureau of Prisons investigated this case. The sentence was imposed by U.S. District Court Judge James R. Sweeney II. 

    Acting U.S. Attorney Childress thanked Assistant U.S. Attorneys Kyle M. Sawa and Meredith Wood, who prosecuted this case.

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  • MIL-OSI Security: Darknet Drug Trafficker From Pennsylvania Sentenced in D.C. for Selling Mass Quantities of Fentanyl Online

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

    WASHINGTON – Jacob Blair, 27, of Aliquippa, Pa., was sentenced today in U.S. District Court to 180 months in federal prison for his role in a drug conspiracy that distributed a wide variety of narcotics, including large amounts of counterfeit oxycodone pills containing fentanyl and counterfeit Adderall pills containing methamphetamine. Blair sold and distributed the narcotics on the darknet marketplace Tor2Door and other darknet markets.

    The sentence was announced by U.S. Attorney Edward R. Martin Jr.; Acting U.S. Attorney Troy Rivetti of the Western District of Pennsylvania; Special Agent in Charge Sean Ryan of the FBI Washington Field Office Criminal and Cyber Division, Special Agent in Charge Kevin P. Rojek of the FBI Pittsburgh Field Office; Special Agent in Charge Ibrar A. Mian of the Drug Enforcement Administration (DEA) Washington Division; Inspector in Charge Damon E. Wood of the U.S. Postal Inspection Service Washington Division; Inspector in Charge Lesley Allison of the US Postal Inspection Service Pittsburgh Division for; and Acting Special Agent in Charge Christopher Heck of the U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) Washington, D.C.

    Blair pleaded guilty on Dec. 17, 2024, before U.S. District Court Judge Amy Berman Jackson, to a charge of conspiracy to distribute more than 400 grams of fentanyl and 50 grams of methamphetamine, and to a charge of possessing a firearm in furtherance of a drug trafficking offense. Blair also pleaded guilty in the District of Columbia to a charge, originally filed in the Western District of Pennsylvania, of distributing 40 grams or more of fentanyl and 50 grams or more of methamphetamine.

    In addition to the 180-month prison term, Judge Berman Jackson ordered Blair to serve five years of supervised release.

    According to court documents, Blair was responsible for distributing more than 1.2 kilograms but less than 4 kilograms of fentanyl, and at least 50 grams but less than 200 grams of methamphetamine. He also admitted to mass-marketing the narcotics by means of an interactive computer service.

    Blair’s co-defendant Dyani Pezzelle pleaded guilty March 5, 2025, to conspiracy to distribute more than 40 grams of fentanyl and 50 grams of methamphetamine. Pezzelle is scheduled to be sentenced on Sept. 18, 2025.

    Between August 1, 2022, and Feb. 24, 2023, Blair and Pezzelle operated vendor accounts on various darknet marketplaces. On the marketplace Tor2Door, Blair and Pezzelle advertised their controlled substances using the monikers “YVS” and “YVendor Supplier” which they touted as “a syndicate of professionals that specialize in making the best products the markets have to offer. We focus on quality, consistency, stealth, and speed.” The conspiracy completed at least 459 sales of illegal narcotics.

    Blair manufactured and obtained counterfeit Oxycodone, Adderall, and Xanax pills for sale. Blair posted advertisements for the controlled substances on Tor2Door and four other marketplaces and accepted payment in cyrptocurrency. During the conspiracy, Blair shipped counterfeit oxycodone pills to the District of Columbia at least six times. These pills contained fentanyl, a Schedule II controlled substance, and metonitazene, a Schedule I controlled substance. In addition, they also shipped counterfeit Xanax and Adderall pills to the District multiple times.

    On February 22, 2023, law enforcement executed search warrants at Blair’s residence in Aliquippa, Pennsylvania, and other locations. During the searches, law enforcement recovered 10 firearms, over 20,000 counterfeit oxycodone pills that contained fentanyl, an industrial pill press, and other manufacturing and distribution supplies.

    This case was investigated by the FBI’s Field Offices in Washington D.C. and Pittsburgh, the DEA, the U.S. Postal Inspection Service, and Homeland Security Investigations. Valuable assistance was provided by the Pittsburgh Bureau of Police and the Moon Township Police Department.

    The matter is being prosecuted by Assistant U.S. Attorneys Thomas Strong and Peter Roman of the District of Columbia’s Violence Reduction and Trafficking Offenses (VRTO) section and Assistant U.S. Attorney DeMarr Moulton of the Western District of Pennsylvania.  The case was initially investigated and indicted by Assistant U.S. Attorney Kevin Rosenberg.

    24cr560

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  • MIL-OSI USA: Maryland Man Indicted for Conspiring to Provide Material Support to Armed Separatist Fighters to Murder, Kidnap, and Maim Individuals in Cameroon and For Making Threats

    Source: US State of North Dakota

    A federal grand jury in Baltimore returned an indictment yesterday charging a Cameroonian national, Eric Tataw, also known as “the Garri Master,” 38, of Gaithersburg, Maryland, with conspiring to provide material support to armed separatist militias in Cameroon and threatening violence against Cameroonian civilians. He surrendered and will make his initial court appearance before U.S. Magistrate Judge J. Mark Coulson today.

    According to court documents, multiple armed and violent secessionist groups in the Northwest and Southwest regions of Cameroon are fighting to form a new country called “Ambazonia.” The armed separatist militias sought to achieve secession by not only attacking the Cameroonian military, but also intentionally attacking the civilian population in Cameroon in an attempt to force the Cameroonian government into allowing these regions to secede. These separatist fighters are frequently referred to as “Amba Boys.”

    “The defendant is alleged to have ordered horrific acts of violence, including severing limbs, against Cameroonian civilians in support of a violent secessionist movement,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “This indictment represents the Justice Department’s commitment to hold accountable human rights violators who direct brutal political violence and fundraise for armed militias from the comfort of the United States.”

    “The Justice Department will not tolerate those who help murder, maim, and kidnap,” said Sue J. Bai, Head of the Justice Department’s National Security Division. “We will continue to hold accountable those who aim to turn American soil into a staging ground for political violence abroad.”

    “Tataw and his co-conspirators masterminded and financially supported a vicious scheme to overthrow a foreign government. They resorted to an unthinkable level of violence while instilling fear in innocent victims to advance their political agenda,” said U.S. Attorney Kelly O. Hayes for the District of Maryland. “We, along with our law enforcement partners, are committed to relentlessly pursuing anyone who attempts to inflict mayhem on others. Tataw and his co-conspirators demonstrated a total disregard for human life so now they must pay the price.”

    As alleged in the indictment, Tataw was a citizen of Cameroon living in Maryland and was a member of the Cameroonian diaspora with a large social media following. Beginning in April 2018, Tataw and others sought to raise funds for the Amba Boys to finance violent attacks in Cameroon. Tataw also allegedly called for the murder, kidnapping, and maiming of civilians and the destruction of public, educational, and cultural property in Cameroon. Tataw and his co-conspirators allegedly directed the maiming of Cameroonian civilians by severing their limbs, a practice Tataw called “Garriing.” Tataw allegedly used the phrase “small Garri” to refer to removing fingers or other small appendages and the phrase “large Garri” to refer to removing large limbs or killing people. Additionally, Tataw allegedly referred to himself as the “Garri Master,” or master of mutilation.

    Tataw and his co-conspirators allegedly targeted those believed to be working for or collaborating with the government, including municipal officials, traditional chiefs, and employees of the Cameroon Development Corporation (CDC), a public company that grew, processed, and sold bananas, palm oil, and rubber. As alleged, Tataw personally wrote hundreds of social media posts on Facebook, YouTube, and Twitter calling for attacks against Cameroonian civilians, seeking to raise funds to arm Amba Boys, and threatening those he viewed as cooperating with the government of Cameroon. These social media posts were regularly viewed by tens of thousands of people, including Amba Boys and their leaders, and were often further disseminated by third parties allegedly acting at Tataw’s direction or encouragement.

    Tataw is charged with one count of conspiracy to provide material support and four counts of interstate communication of a threat to harm. If convicted, he faces a maximum penalty of 15 years in prison on the material support count and five years in prison on each count of communication of a threat to harm. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; Sue J. Bai, Head of the Justice Department’s National Security Division; U.S. Attorney Kelly O. Hayes for the District of Maryland; and Special Agent in Charge Michael McCarthy of U.S. Immigration and Customs Enforcement Homeland Security Investigations (ICE HSI) Maryland made the announcement.

    HSI and the U.S. Department of State’s Diplomatic Security Service, with assistance from the FBI, are investigating the case.

    Trial Attorney Chelsea Schinnour of the Criminal Division’s Human Rights and Special Prosecutions Section, Assistant U.S. Attorney Christina Hoffman and Joseph Wenner for the District of Maryland, and Trial Attorneys Michael Dittoe and Andrew Briggs of the National Security Division’s Counterterrorism Section are prosecuting the case, with assistance from the Justice Department’s Office of International Affairs.

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

    MIL OSI USA News –

  • MIL-OSI Security: Maryland Man Indicted for Conspiring to Provide Material Support to Armed Separatist Fighters to Murder, Kidnap, and Maim Individuals in Cameroon and For Making Threats

    Source: United States Attorneys General 13

    A federal grand jury in Baltimore returned an indictment yesterday charging a Cameroonian national, Eric Tataw, also known as “the Garri Master,” 38, of Gaithersburg, Maryland, with conspiring to provide material support to armed separatist militias in Cameroon and threatening violence against Cameroonian civilians. He surrendered and will make his initial court appearance before U.S. Magistrate Judge J. Mark Coulson today.

    According to court documents, multiple armed and violent secessionist groups in the Northwest and Southwest regions of Cameroon are fighting to form a new country called “Ambazonia.” The armed separatist militias sought to achieve secession by not only attacking the Cameroonian military, but also intentionally attacking the civilian population in Cameroon in an attempt to force the Cameroonian government into allowing these regions to secede. These separatist fighters are frequently referred to as “Amba Boys.”

    “The defendant is alleged to have ordered horrific acts of violence, including severing limbs, against Cameroonian civilians in support of a violent secessionist movement,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “This indictment represents the Justice Department’s commitment to hold accountable human rights violators who direct brutal political violence and fundraise for armed militias from the comfort of the United States.”

    “The Justice Department will not tolerate those who help murder, maim, and kidnap,” said Sue J. Bai, Head of the Justice Department’s National Security Division. “We will continue to hold accountable those who aim to turn American soil into a staging ground for political violence abroad.”

    “Tataw and his co-conspirators masterminded and financially supported a vicious scheme to overthrow a foreign government. They resorted to an unthinkable level of violence while instilling fear in innocent victims to advance their political agenda,” said U.S. Attorney Kelly O. Hayes for the District of Maryland. “We, along with our law enforcement partners, are committed to relentlessly pursuing anyone who attempts to inflict mayhem on others. Tataw and his co-conspirators demonstrated a total disregard for human life so now they must pay the price.”

    As alleged in the indictment, Tataw was a citizen of Cameroon living in Maryland and was a member of the Cameroonian diaspora with a large social media following. Beginning in April 2018, Tataw and others sought to raise funds for the Amba Boys to finance violent attacks in Cameroon. Tataw also allegedly called for the murder, kidnapping, and maiming of civilians and the destruction of public, educational, and cultural property in Cameroon. Tataw and his co-conspirators allegedly directed the maiming of Cameroonian civilians by severing their limbs, a practice Tataw called “Garriing.” Tataw allegedly used the phrase “small Garri” to refer to removing fingers or other small appendages and the phrase “large Garri” to refer to removing large limbs or killing people. Additionally, Tataw allegedly referred to himself as the “Garri Master,” or master of mutilation.

    Tataw and his co-conspirators allegedly targeted those believed to be working for or collaborating with the government, including municipal officials, traditional chiefs, and employees of the Cameroon Development Corporation (CDC), a public company that grew, processed, and sold bananas, palm oil, and rubber. As alleged, Tataw personally wrote hundreds of social media posts on Facebook, YouTube, and Twitter calling for attacks against Cameroonian civilians, seeking to raise funds to arm Amba Boys, and threatening those he viewed as cooperating with the government of Cameroon. These social media posts were regularly viewed by tens of thousands of people, including Amba Boys and their leaders, and were often further disseminated by third parties allegedly acting at Tataw’s direction or encouragement.

    Tataw is charged with one count of conspiracy to provide material support and four counts of interstate communication of a threat to harm. If convicted, he faces a maximum penalty of 15 years in prison on the material support count and five years in prison on each count of communication of a threat to harm. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; Sue J. Bai, Head of the Justice Department’s National Security Division; U.S. Attorney Kelly O. Hayes for the District of Maryland; and Special Agent in Charge Michael McCarthy of U.S. Immigration and Customs Enforcement Homeland Security Investigations (ICE HSI) Maryland made the announcement.

    HSI and the U.S. Department of State’s Diplomatic Security Service, with assistance from the FBI, are investigating the case.

    Trial Attorney Chelsea Schinnour of the Criminal Division’s Human Rights and Special Prosecutions Section, Assistant U.S. Attorney Christina Hoffman and Joseph Wenner for the District of Maryland, and Trial Attorneys Michael Dittoe and Andrew Briggs of the National Security Division’s Counterterrorism Section are prosecuting the case, with assistance from the Justice Department’s Office of International Affairs.

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

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  • MIL-OSI Security: Hardin Man Sentenced to Three Years in Prison for Using a Phone to Promote Prostitution with a Minor

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

    BILLINGS – A Hardin man who promoted prostitution with a minor was sentenced today to 36 months in prison to be followed by 3 years of supervised release, U.S. Attorney Kurt Alme said.

    William Serges Joseph, 75, pleaded guilty in November 2024 to use of facility in interstate commerce in aid of racketeering.

    U.S. District Judge Susan Watters presided.

    The government alleged in court documents that in March 2023, Jane Doe, a juvenile female, disclosed to law enforcement that, commencing in approximately September 2022, she began showing her breasts to the Joseph. The two messaged each other on Facebook and Joseph was aware of she was a juvenile. Jane Doe said she allowed Joseph to touch her in exchange for alcohol and he also asked her for naked pictures.

    Jane Doe was interviewed again in June 2023. She added that Joseph continued to message her and offered her $50 for sexual contact. A review of her cell phone reflected, among other communications, a February 2023 message from Joseph with a picture of male genitalia. Joseph was interviewed in February 2024. He admitted providing alcohol to Jane Doe in exchange for pictures of her breasts. At the time of the offense, prostitution was illegal under the laws of Montana and Sex Trafficking was illegal under the laws of the United States.

    The U.S. Attorney’s Office prosecuted the case, and the investigation was conducted by the FBI.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit Justice.gov/PSC.

    XXX

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  • MIL-OSI Security: Pontiac Man Pleads Guilty in $4 Million Identity Theft and Unemployment Fraud Case

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

    DETROIT – A Pontiac man has pleaded guilty to committing aggravated identity theft and wire fraud as part of large-scale, multi-state Unemployment Insurance benefit fraud scheme in which he and co-conspirators fraudulently obtained debit cards loaded with more than $4 million in Pandemic Unemployment Assistance funds, Acting United States Attorney Julie A. Beck announced today.

    Joining in the announcement were Megan Howell, Acting Special Agent-in-Charge, Chicago Region, U.S. Department of Labor, Office of Inspector General, Special Agent-in-Charge Cheyvoryea Gibson, Federal Bureau of Investigation, Detroit Division, Charles Miller, Special Agent-in-Charge, Internal Revenue Service – Criminal Investigations, Douglas Zloto, Special Agent-in-Charge, U.S. Secret Service, Sean McStravick, Acting Inspector-in-Charge, U.S. Postal Service, Office of Inspector General, and Director Jason Palmer, State of Michigan Unemployment Insurance Agency.

    Terrance Calhoun, Jr., 36, of Pontiac, Michigan, pleaded guilty to committing aggravated identity theft, wire fraud, conspiracy to commit wire fraud, and to possessing 15 or more unauthorized access devices, all in relation to acts of unemployment insurance fraud.

    According to his plea agreement, Calhoun Jr., and others, used stolen personal identification and filed hundreds of false unemployment claims with state unemployment insurance agencies in Michigan, Arizona, and Maryland over a six-month period in the names of other individuals without their knowledge or consent. Those false claims resulted in hundreds of debit cards loaded with over $4 million in unemployment insurance funds being mailed to addresses controlled by Calhoun Jr. and his co-conspirators. Roughly $1.6 million dollars in purchases and cash withdrawals were then successfully made from the cards.

    As described within a prior complaint, when agents executed search warrants at the principal mailing addresses used for the fraudulent unemployment insurance benefit claims, including the residence of Calhoun Jr., agents seized numerous documents containing the personal identification information of other individuals, multiple debit cards in the names of numerous other individuals, and firearms.

    Calhoun now faces a possible sentence of up to 20-years’ imprisonment for each of the wire fraud counts to which he has pleaded guilty, a possible sentence of up to 10-years’ imprisonment for possessing 15 or more unauthorized access devices, and a mandatorily consecutive 2-year sentence for the aggravated identity theft charge to which he has pleaded guilty.

    Sentencing is set for August 27, 2025 before United States District Court Judge Judith E. Levy.

    “Taxpayer money diverted into the pockets of criminals means less money going to Michiganders who actually need help getting through difficult financial times and who follow the rules when seeking assistance,” said Acting US Attorney Beck.  “These charges reflect our office’s ongoing commitment to the community by investigating such schemes and bringing those who commit these crimes to justice.”

    “Terrance Calhoun Jr and his co-conspirators engaged in a scheme to defraud state workforce agencies in Michigan, Arizona, and Maryland by filing hundreds of fraudulent unemployment insurance (UI) claims.  As a result, Calhoun enriched himself by stealing taxpayer resources intended for unemployed American workers.  We will continue to work with our law enforcement partners to protect the integrity of the UI program from those who seek to exploit it,” said Megan Howell, Acting Special Agent-in-Charge, Great Lakes Region, U.S. Department of Labor, Office of Inspector General.

    “Individuals who commit identity theft and unemployment insurance fraud of this magnitude deserve to be punished to the fullest extent of the law,” said Charles Miller, Special Agent in Charge, Detroit Field Office, IRS Criminal Investigation (IRS-CI).  “Terrance Calhoun, Jr. and Jermaine Arnett demonstrated a blatant disregard of the integrity of the multiple states’ unemployment insurance systems and caused immeasurable hardship to innocent victims. IRS-CI remains committed to the pursuit of identity theft and financial fraud, and together with our partners at the U.S. Attorney’s Office, we will hold those who engage in similar crimes accountable.”

    “The FBI in Michigan, alongside our law enforcement partners, remains steadfast in protecting the community and investigating individuals who violate federal law,” said Cheyvoryea Gibson, Special Agent in Charge of the FBI Detroit Field Office. “Today’s guilty plea by Terrance Calhoun, whose involvement in a multi-state fraud scheme, is a clear reminder that bad actors will be stopped, and we will ensure integrity will prevail.”

    The case was jointly investigated by agents from the Department of Labor Office of the Inspector General, the Internal Revenue Service – Criminal Investigations Division, the Federal Bureau of Investigation, the Bureau of Immigration and Customs Enforcement, the United States Secret Service, the United States Postal Service Office of the Inspector General, and the State of Michigan -Unemployment Insurance Agency. The case is being prosecuted by Assistant United States Attorneys Carl D. Gilmer-Hill and Jessica A. Nathan.

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