Category: Intelligence Agencies

  • MIL-OSI: Societe Generale: Information regarding executed transactions within the framework of a share buyback program (outside the liquidity agreement)

    Source: GlobeNewswire (MIL-OSI)

    INFORMATION REGARDING EXECUTED TRANSACTIONS WITHIN THE FRAMEWORK OF A SHARE BUYBACK PROGRAM (OUTSIDE THE LIQUIDITY AGREEMENT)

    Regulated Information

    Paris, 17 February 2025

    (In accordance with article 5 of Regulation (EU) No 596/2014 on Market Abuse Regulation and article 3(3) of Delegated Regulation (EU) 2016/1052 supplementing Regulation (EU) No 596/2014 through regulatory technical standards concerning the conditions applicable to buyback programs and stabilization measures)

    As announced on Thursday 6 February 2025, Societe Generale started on Monday 10 February 2025, an ordinary share buyback program for EUR 872 million for the purpose of shares cancellation.

    Societe Generale received all necessary authorizations from supervisory authorities. These buybacks will be carried out in compliance with the conditions, notably regarding the maximum price, set forth by the General Meeting of 22 May 2024 and presented in the description released on 17 May 2024, as well as in accordance with the Market Abuse Regulation. They are performed on the trading platforms on which Societe Generale shares are listed for trading or are traded, including the regulated market of Euronext Paris.

    Purchases performed during the period from 10 to 14 February 2025 are described below. As of February 14, 2025, Societe Generale has completed 12% of its share buyback program, representing 0.4%* of its share capital.

    The liquidity contract concluded with Rothschild has also temporarily been suspended throughout the buyback period.

    Issuer name: Societe Generale – LEI O2RNE8IBXP4R0TD8PU41

    Reference of the financial instrument: ISIN FR0000130809

    Period: From 10 to 14 February 2025

    * Ratio between the number of shares repurchased and the 800,316,777 shares comprising the current share capital.

    Purchases performed by Societe Generale during the period

    Aggregated presentation by day and market

    Issuer name Issuer code (LEI) Transaction date ISIN Code Daily total volume (in number of shares) Daily weighted average price of shares acquired Platform
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 362 124 35,7689 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 199 120 35,7415 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 25 000 35,7473 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 15 000 35,7792 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 398 546 36,1667 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 165 000 36,1551 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 19 000 36,1305 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 12 000 36,1520 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 345 676 37,1056 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 150 000 37,0716 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 19 000 37,0939 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 11 000 37,0842 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 305 947 37,2202 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 202 000 37,2104 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 28 000 37,1090 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 15 000 37,1341 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 347 390 36,9117 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 176 000 36,9096 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 20 000 36,9106 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 12 000 36,9131 AQEU
          TOTAL 2 827 803 36,6008  

    Press contacts:

    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    The MIL Network

  • MIL-OSI Global: Trump has purged the Kennedy Center’s board, which in turn made him its chair – why does that matter?

    Source: The Conversation – USA – By E. Andrew Taylor, Associate Professor and Director of Arts Management, American University

    Former Kennedy Center President Deborah Rutter walks by The Reach, a major expansion of the performing arts center completed during her tenure. AP Photo/Patrick Semansky

    President Donald Trump dismissed half the appointed trustees of the John F. Kennedy Center for the Performing Arts’ board on Feb. 12, 2025. The remaining board members, most of whom he had recently appointed, then voted to make Trump the center’s chair. The board also fired Deborah Rutter, who had served as the center’s president since 2014 and already planned to step down seven months later.

    The board replaced Rutter with Richard Grenell, who served in the first Trump administration.

    The Conversation U.S. asked E. Andrew Taylor, an arts management scholar, to explain how the Kennedy Center operates and sum up the significance of Trump’s unprecedented interference with its operations.

    Why is the government involved in the Kennedy Center?

    The Kennedy Center, a unique cultural enterprise located along the Potomac River in Washington, has a complex ownership and operating structure. The campus includes three large performance halls, two midsize theaters and many smaller venues and public spaces that host musical, theatrical and dance performances, lectures, exhibits and other special events. In form and function, it looks a lot like other major metropolitan performing arts centers, such as New York City’s Lincoln Center. But its structure is different.

    The Kennedy Center is part of the federal government. Officially, it’s a bureau under the Smithsonian Institution.

    It was originally conceived during the Eisenhower administration and later championed by President John F. Kennedy. It was named after JFK following his assassination.

    The center opened in 1971, with a world premiere of composer Leonard Bernstein’s “Mass.” President Richard M. Nixon did not attend after the FBI warned him of possible anti-war messages encoded in the Latin text that might be designed to embarrass him.

    The center’s current mission statement captures its purpose and goals:

    “As the nation’s cultural center, and a living memorial to President John F. Kennedy, we are a leader for the arts across America and around the world, reaching and connecting with artists, inspiring and educating communities. We welcome all to create, experience, learn about, and engage with the arts.”

    Why does the Kennedy Center have a nonprofit board?

    From the start, the Kennedy Center was planned as a public-private effort. Government funding covers the maintenance, upkeep, security and restoration of the building and grounds.

    Private funds, largely derived from ticket sales, individual donors, foundations and corporations, cover the performances, productions and other programs.

    Those private funds cover more than three-quarters of the Kennedy Center’s budget. Its 2023 annual report explained that its US$286 million in revenue included $152 million from ticket sales, services and fees, $85 million from donations and $45 million from the federal government, with the rest derived from income from its endowment and other sources.

    In accordance with this public-private mix of revenue, the center’s governance has always been a hybrid, with the structure of a nonprofit board but with political appointees.

    The Kennedy Center’s board is authorized by its legislation to solicit and accept private donations, enter into contracts, maintain its halls and grounds, and appoint and oversee professional leadership. For the most part, it has the same responsibilities as any nonprofit board.

    There’s a big exception, however.

    While most nonprofit boards recruit, elect and develop their own membership, the Kennedy Center board consists of government appointees. About two dozen trustees serve by virtue of their government office, such as the librarian of Congress, the secretary of state, the mayor of Washington and the speaker and the minority leader of the U.S. House of Representatives;.

    Up to 36 more are appointed by the president, each serving staggered six-year terms so that they don’t all expire at the same time.

    Singer-songwriter Sara Bareilles performs Elton John’s ‘Goodbye Yellow Brick Road’ with the National Symphony Orchestra in February 2025 at the Kennedy Center’s sold-out Concert Hall.

    Is the board supposed to be nonpartisan?

    The six-year terms reflect a goal of establishing a largely nonpartisan governing board, since presidents usually appoint board members aligned with their own party. Until now, that balance has been the norm. But that outcome wasn’t mandated when Congress passed legislation establishing the Kennedy Center.

    Having a politically balanced board has historically helped the Kennedy Center raise money and attract world-class artists. For example, the 2025 season, as of mid-February, will or has included Alvin Ailey American Dance Theater, jazz pianist Kenny Barron, soprano Renée Fleming, author David Sedaris, comedian Sarah Silverman and touring productions of “Parade” and “Les Misérables.”

    Its in-house productions are often classic works, such as “La Bohème” and Beethoven’s symphonies. Many of the center’s theatrical productions have gone on to Broadway and national tours, including “42nd Street,” “Noises Off” and revivals of “The King and I,” “Annie” and “Spamalot.”

    I’m concerned that many longtime or potential future donors may not want to contribute to a cause that has suddenly become subject to partisan leadership.

    Many artists and creative partners have already begun to sever their ties to the Kennedy Center or cancel upcoming shows at its venues out of an aversion to the board’s dramatic political turn. Some performances and tours tied to the center have been called off for other reasons that haven’t yet been made public.

    Members of the public may balk at attending events at a politically charged venue, especially with so many other performing arts options in and around Washington, reducing ticket sales.

    What does the Kennedy Center chair do?

    Board chairs are in charge of the governing board, expending considerable energy, attention, effort, political muscle and often personal wealth to ensure that the organization can thrive.

    The Kennedy Center’s prior chairs have not been figureheads. Rather, they have been actively engaged in fundraising, strategic planning and public advocacy. The legislation that chartered the center requires that its chair and secretary “shall be well qualified by experience and training to perform the duties of their respective offices.”

    Trump has admitted that he’s never seen a show at the Kennedy Center. He has no prior relevant arts board leadership experience. And he is constrained from serving on a nonprofit board in the state of New York after admitting to the misuse of charitable funds by the now-dissolved Donald J. Trump Foundation.

    David Rubenstein, the board chair ousted by this upheaval, has given the Kennedy Center at least US$111 million, making him the center’s biggest donor ever. The philanthropist spearheaded fundraising for its first major expansion, securing significant support from private corporations and foundations.

    Former Kennedy Center Chair David Rubenstein speaks at an event at the performing arts venue in 2022.
    AP Photo/Kevin Wolf

    Has anything like this happened before?

    No U.S. president has served as a member of the Kennedy Center board before, let alone its chair.

    Presidents do often appoint their friends and allies to government boards and commissions, and often remove appointees of previous administrations. President Joe Biden, for example, removed Sean Spicer – a former Trump press secretary and White House communications director – from the Naval Academy advisory board.

    But that board is leading a strictly governmental body, not a public-private hybrid so dependent on private funding. And the speed and scale of this purge are unprecedented.

    What are the potential consequences?

    All big, multi-venue metropolitan performing arts centers are extraordinarily complex and difficult to manage.

    The John F. Kennedy Center for the Performing Arts is particularly so. It hosts approximately 2,200 performances that draw more than 2 million visitors each year, with an in-house symphony and opera company. It produces the Kennedy Center Honors, which celebrate exceptional American artists with an annual gala, performance and television broadcast, and the Mark Twain Prize, which honors one accomplished American comedic actor, author or performer each year.

    The Kennedy Center hosts an annual event honoring a wide range of performers and other leaders in the arts.

    It’s also a national hub for arts education that serves 2.1 million students and teachers across all 50 states, doubling as an open campus: It offers daily free performances of everything from classical chamber music and ballet to jazz and rock bands.

    Even under the best possible conditions, this is a lot to handle.

    Successful arts nonprofits benefit from a governing board whose members have expertise in the arts, business and philanthropy, are loyal to the mission above themselves, and rigorously follow the law. Beyond those basics, ideal conditions also include having enthusiastic audiences, passionate donors, eager and exceptional artistic collaborators, and creative and administrative teams that are supported and empowered to do their difficult work.

    With Trump’s takeover of the Kennedy Center board, this national cultural center has now, essentially, turned into a branch of the White House. In my view, that’s a disturbing turn of events in a nation that celebrates free and creative expression. It’s also disruptive to a complex, mission-driven enterprise that demands care, loyalty and obedience from its governing board.

    E. Andrew Taylor directs American University’s Arts Management Program. Some of its alumni and students have worked as staff and fellows for The Kennedy Center.

    ref. Trump has purged the Kennedy Center’s board, which in turn made him its chair – why does that matter? – https://theconversation.com/trump-has-purged-the-kennedy-centers-board-which-in-turn-made-him-its-chair-why-does-that-matter-249934

    MIL OSI – Global Reports

  • MIL-OSI: NANO Nuclear Energy Strengthens Intellectual Property Portfolio with Four New Patent Applications

    Source: GlobeNewswire (MIL-OSI)

    Protections Surrounding Key Enabling ALIP Technology Adds to NANO Nuclear’s Stable of Granted or Acquired Patents and Patent Applications

    New York, N.Y., Feb. 17, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that it has filed four new separate utility patent applications with the United States Patent and Trademark Office (USPTO) related to NANO Nuclear’s Annular Linear Induction Pump (ALIP) technology.

    The ALIP technology, a thermal management and distribution system which is based on electromagnetic (rather than mechanical) pumps, is a core technology in the development of advanced molten-salt and liquid-metal nuclear reactors. By utilizing a time-varying magnetic field, ALIPs enable the movement of conductive fluids without mechanical components, reducing wear and maintenance requirements while increasing efficiency.

    The ALIP technology, acquired by NANO Nuclear last year and part of its suite of energy systems, is considered a key-enabling technology for the development of advanced nuclear reactors, not only for NANO Nuclear’s microreactors in development but as a third-party commercial opportunity for other advanced nuclear reactor systems.

    In addition to enhancing energy conversion cycles, optimizing thermal management, and ensuring operational longevity in high-temperature applications across the energy, propulsion, and industrial sectors, applications of the ALIP technology extend beyond nuclear energy to space power and propulsion systems, industrial cooling systems, and defense applications, positioning NANO Nuclear at the forefront of emerging high-performance fluid control markets.

    A U.S. Department of Energy’s Small Business Innovation Research (SBIR) Phase III project is ongoing to refine the ALIP technology, led by inventor and NANO Nuclear’s Head of Thermal Hydraulics and Space Program Dr. Carlos O. Maidana, with a view to separately commercialize the technology as a component for liquid metal and all molten salt-based nuclear reactors.

    Figure 1 – NANO Nuclear Energy’s Annular Linear Induction Pump (ALIP) technology cross-sectional visualization.

    “The development and eventual commercialization of the ALIP technology is essential for advancing next-generation nuclear reactor solutions,” said Carlos O. Maidana, Ph.D., Head of Thermal Hydraulics and Space Program of NANO Nuclear Energy. “Filing these utility patents highlights our commitment to leading the charge in next-generation technologies that are critical to the ongoing evolution of advanced energy systems. I’m pleased to have housed these inventions within NANO Nuclear and to lead the team to progress and refine this technology.”

    The newly filed patent applications include:

    1. Patent Application # 19/030,148, titled “Integrated platform and method for optimizing an electromagnetic pump,” relates to the development of software for the design of annular linear induction pumps.
    2. Patent Application # 19/030,130, titled “Electromagnetic pump system and method for moving conducting fluid,” relates to the design of the next generation of annular linear induction pumps.
    3. Patent Application # 19/030,098, titled “Electromagnetic pump and method for manufacturing the same,” relates to the advanced manufacturing of annular linear induction pumps.
    4. Patent Application # 19/030,068, titled “Cooling system for electromagnetic pump system,” relates to the design of a micro-channel cooling system, using advanced manufacturing methods, for annular linear induction pumps operating at very high temperature.

    These intellectual properties are expected to provide enhanced component life span and operation metrics in all advanced molten-salt and liquid-metal reactors, including NANO Nuclear’s KRONOS MMR, LOKI MMR, and ODIN portable microreactor, all of which are currently in development.

    “The filing of these additional utility patents further bolsters our intellectual property portfolio and helps to ensure the protection of our progress in developing this key enabling technology,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “We believe that the ALIP technology will be instrumental in the development and optimization of the next generation of advanced nuclear reactors, and I’m pleased with the progress Dr. Maidana has overseen through the SBIR Phase III program. We look forward to continuing our progress with ALIP with a view towards including in it our own microreactors in development as well as seeking to separately commercialize it as soon as possible.”

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors. NANO Nuclear is also developing patented stationary KRONOS MMR Energy System and space focused, portable LOKI MMR.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further NANO Nuclear information, please contact:
    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206

    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

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    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements include those related to (i) the anticipated benefits to NANO Nuclear of the patent applications described herein and (ii) the future prospects for the ALIP technology generally as part of NANO Nuclear’s reactors in development or via separate commercialization. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues, securing intellectual property protection, and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network

  • MIL-OSI Australia: Minister Rishworth interview on ABC Hobart Drive with Kylie Baxter

    Source: Ministers for Social Services

    E&OE TRANSCRIPT

    Topics: Family and domestic violence; Men’s behaviour change; Additional funding for Tasmania; Election timing.

    KYLIE BAXTER, HOST: We all know the figures around domestic violence. They are terrible and seem to be getting worse. Not everywhere, but in a lot of places. Now, Federal Labor has promised funding to tackle the issue, but the big question is, will it actually make a difference? I’m joined by Social Services Minister Amanda Rishworth. Thank you for joining me on the program.

    AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES: Great to be with you.

    KYLIE BAXTER: So, what is the current situation around domestic violence? I mean, how bad is it?

    AMANDA RISHWORTH: What we have in Australia is really unacceptable levels of family and domestic violence. When you look at the statistics, one woman loses their life around every 10 days, which is just unacceptable. Partly we are seeing, of course, an important conversation about this, often domestic and family violence. We knew it may be happening behind closed doors and we weren’t talking about it. It’s really important we have a conversation about it, but we’ve got to have action as well. That’s what I’ve been doing over the last two and a half years. But this new national partnerships agreement with the Tasmanian government allows us to roll out more support where it’s needed.

    KYLIE BAXTER: Okay, so let’s talk about Tasmania. How are we faring in relation to domestic violence?

    AMANDA RISHWORTH: Well, look, each state and territory has its own challenges, but it also has some really important options and services available for people. And when it comes to Tasmania, there’s been a lot of work done delivering, for example, rural family violence outreach programs. We know Tasmania is a pretty spread out place and so some of the funding that we previously worked with the Tasmanian Government has been looking at rural family violence outreach programs, but also, for example, family violence training for legal professionals, which is really important. So, look, Tasmania has some of the same challenges as the rest of the country, but also there are some other challenges, such as the spread out population, which also needs to be looked at how we address that as well.

    KYLIE BAXTER: This funding announcement from the Labor Federal Government of more than $15.7 million, what exactly is it going to be used for?

    AMANDA RISHWORTH: This will be used for a number of things and it complements the other investments we’ve made across the country, including to things like our Escaping Violence Program, which is a national program which people can get funds to leave a violent situation. But this particular new agreement will allow for funding for specialised services for women, services to support those exposed to family and domestic violence, to heal and recover, and also in particular working with men, including men’s behaviour change programs. One particular program that’s been identified by the Tasmanian government in which they could invest in is an early intervention program with young men, particularly around the ages of 12 to 17, really to break that cycle. They may have witnessed violence being used themselves and maybe showing signs of recreating that pattern. And so this program is really one example of a really important program about breaking that cycle.

    KYLIE BAXTER: If you’ve just joined me, you’re listening to the voice of Amanda Rishworth who is the Federal Social Services Minister. Now, when we have these conversations, despite the fact that men are mostly the perpetrators against women, we often receive texts asking, but what about men? Is there dedicated money for men? Possibly, I guess for things like psychologists and psychiatrists to help break the cycle. I mean, you’ve obviously mentioned, you know, younger men aged 12 and up, but what about guys of different age groups? I mean, is any money available to help them go and see a psychologist or a psychiatrist if they need it?

    AMANDA RISHWORTH: Yes, look, there are a lot of programs. Firstly, I would say that while we do acknowledge that men can also be victims of domestic and family violence, the vast majority are women and it is perpetrated by men. But we do acknowledge that men can be victims too. And so things like 1800RESPECT or the Escaping Violence Program is open to all victim-survivors. But if we talk about what’s available to men and bringing men into the conversation, about how we solve it. You’re absolutely right, there’s a number or many programs that we’ve funded over the last two years to try and engage men. As you mentioned, we’ve been funding work with young boys and men, but also looking at how we have behaviour changed. So, there is No To Violence, which is a national phone line in which people can get telephone online counselling information about how they might, they might be concerned about their behaviour. This is dedicated to them to actually have a conversation. A lot of people, a lot of men decide to call Mensline as well. And that is also a very important option if people want, in a non judgmental way, to have a conversation about things that they might be concerned with and get the help they might need to engage with a behaviour change program, for example.

    KYLIE BAXTER: And I guess the important question is, when are these initiatives actually going to be rolled out?

    AMANDA RISHWORTH: Well, the funding will begin from the first of July this year. That’s the agreement through the national partnerships. But it is not the only money that we have contributed to the Tasmanian Government. This builds on an extra $23 million that we’ve provided already to the Tasmanian Government to boost things like their frontline workforce and other programs. So, this is an additional money to continue this important work.

    KYLIE BAXTER: Obviously this is an election promise and so do you have concerns if Labor is not re-elected, how will things roll then for victims of domestic violence?

    AMANDA RISHWORTH: We hope that whoever wins the election will commit to this funding. Of course, we’ve signed this agreement with the Tasmanian Government but I can’t speak for the Liberal National Party of whether they would seek to rip up this agreement. I hope they don’t. But this is our clear commitment to making a difference when it comes to these issues.

    KYLIE BAXTER: And have you had any closed door meetings in the past few days or week in relation to an election date?

    AMANDA RISHWORTH: Oh, look, I have to be honest, election dates are above my pay grade. So, no, I can’t, I can’t give you the inside scoop today. Unfortunately there is one person that I don’t know if he’s made up his mind yet, but one person that knows when that election is, and that’s our Prime Minister.

    KYLIE BAXTER: Thank you very much for your time. Appreciate you coming on the Drive program.

    MIL OSI News

  • MIL-OSI Global: What is Navalny’s legacy for Russia?

    Source: The Conversation – UK – By Ben Noble, Associate Professor of Russian Politics, UCL

    A spontaneous memorial of flowers in St Petersburg, Russia, on the day of Alexei Navalny’s death, February 16 2024. Aleksey Dushutin/Shutterstock

    This is the best day of the past five months for me … This is my home … I am not afraid of anything and I urge you not to be afraid of anything either.

    These were Alexei Navalny’s words after landing at Moscow’s Sheremetyevo Airport on January 17 2021. Russia’s leading opposition figure had spent the past months recovering in Germany from an attempt on his life by the Russian Federal Security Service (FSB). Minutes after making his comments, Navalny was detained at border control. And he would remain behind bars until his death on February 16 2024, in the remote “Polar Wolf” penal colony within the Arctic Circle.

    “Why did he return to Russia?” That’s the question I’m asked about Navalny most frequently. Wasn’t it a mistake to return to certain imprisonment, when he could have maintained his opposition to Russia’s president, Vladimir Putin, from abroad?

    But Navalny’s decision to return didn’t surprise me. I’ve researched and written about him extensively, including co-authoring Navalny: Putin’s Nemesis, Russia’s Future?, the first English-language, book-length account of his life and political activities. Defying the Kremlin by returning was a signature move, reflecting both his obstinacy and bravery. He wanted to make sure his supporters and activists in Russia did not feel abandoned, risking their lives while he lived a cushy life in exile.


    The Insights section is committed to high-quality longform journalism. Our editors work with academics from many different backgrounds who are tackling a wide range of societal and scientific challenges.


    Besides, Navalny wasn’t returning to certain imprisonment. A close ally of his, Vladimir Ashurkov, told me in May 2022 that his “incarceration in Russia was not a certainty. It was a probability, a scenario – but it wasn’t like he was walking into a certain long-term prison term.”

    Also, Navalny hadn’t chosen to leave Russia in the first place. He was unconscious when taken by plane from Omsk to Berlin for treatment following his poisoning with the nerve agent Novichok in August 2020. Navalny had been consistent in saying he was a Russian politician who needed to remain in Russia to be effective.

    In a subsequent interview, conducted in a forest on the outskirts of the German capital as he slowly recovered, Navalny said: “In people’s minds, if you leave the country, that means you’ve surrendered.”

    Video: ACF.

    Outrage, detention and death

    Two days after Navalny’s final return to Russia, the Anti-Corruption Foundation (ACF) – the organisation he established in 2011 – published its biggest ever investigation. The YouTube video exploring “Putin’s palace” on the Black Sea coast achieved an extraordinary 100 million views within ten days. By the start of February 2021, polling suggested it had been watched by more than a quarter of all adults in Russia.

    Outrage at Navalny’s detention, combined with this Putin investigation, got people on to the streets. On January 23 2021, 160,000 people turned out across Russia in events that did not have prior approval from the authorities. More than 40% of the participants said they were taking part in a protest for the first time.

    But the Russian authorities were determined to also make it their last time. Law enforcement mounted an awesome display of strength, detaining protesters and sometimes beating them. The number of participants at protests on January 31 and February 2 declined sharply as a result.

    Between Navalny’s return to Russia in January 2021 and his death in February 2024, aged 47, he faced criminal case after criminal case, adding years and years to his time in prison and increasing the severity of his detention. By the time of his death, he was in the harshest type of prison in the Russian penitentiary system – a “special regime” colony – and was frequently sent to a punishment cell.

    The obvious intent was to demoralise Navalny, his team and supporters – making an example of him to spread fear among anyone else who might consider mounting a challenge to the Kremlin. But Navalny fought back, as described in his posthumously published memoir, Patriot. He made legal challenges against his jailers. He went on hunger strike. And he formed a union for his fellow prisoners.

    He also used his court appearances to make clear his political views, including following Russia’s full-scale invasion of Ukraine in February 2022, declaring: “I am against this war. I consider it immoral, fratricidal, and criminal.”

    Navalny’s final public appearance was via video link. He was in good spirits, with his trademark optimism and humour still on display. Tongue firmly in cheek, he asked the judge for financial help:

    Your Honour, I will send you my personal account number so that you can use your huge salary as a federal judge to ‘warm up’ my personal account, because I am running out of money.

    Navalny died the following day. According to the prison authorities, he collapsed after a short walk and lost consciousness. Although the Russian authorities claimed he had died of natural causes, documents published in September 2024 by The Insider – a Russia-focused, Latvia-based independent investigative website – suggest Navalny may have been poisoned.

    A mourner adds her tribute to Alexei Navalny’s grave in Moscow after his burial on March 1 2024.
    Aleksey Dushutin/Shutterstock

    Whether or not Putin directly ordered his death, Russia’s president bears responsibility – for leading a system that tried to assassinate Navalny in August 2020, and for allowing his imprisonment following Navalny’s return to Russia in conditions designed to crush him.

    Commenting in March 2024, Putin stated that, just days before Navalny’s death, he had agreed for his most vocal opponent to be included in a prisoner swap – on condition the opposition figure never returned to Russia. “But, unfortunately,” Putin added, “what happened, happened.”

    ‘No one will forget’

    Putin is afraid of Alexei, even after he killed him.

    Yulia Navalnaya, Navalny’s wife, wrote these words on January 10 2025 after reading a curious letter. His mother, Lyudmila Navalnaya, had written to Rosfinmonitoring – a Russian state body – with a request for her son’s name to be removed from their list of “extremists and terrorists” now he was no longer alive.

    The official response was straight from Kafka. Navalny’s name could not be removed as it had been added following the initiation of a criminal case against him. Even though he was dead, Rosfinmonitoring had not been informed about a termination of the case “in accordance with the procedure established by law”, so his name would have to remain.

    This appears to be yet another instance of the Russian state exercising cruelty behind the veil of bureaucratic legality – such as when the prison authorities initially refused to release Navalny’s body to his mother after his death.

    “Putin is doing this to scare you,” Yulia continued. “He wants you to be afraid to even mention Alexei, and gradually to forget his name. But no one will forget.”

    Alexei Navalny and his wife, Yulia Navalnaya, at a protest rally in Moscow, May 2012.
    Dmitry Laudin/Shutterstock

    Today, Navalny’s family and team continue his work outside of Russia – and are fighting to keep his name alive back home. But the odds are against them. Polling suggests the share of Russians who say they know nothing about Navalny or his activities roughly doubled to 30% between his return in January 2021 and his death three years later.

    Navalny fought against an autocratic system – and paid the price with his life. Given the very real fears Russians may have of voicing support for a man still labelled an extremist by the Putin regime, it’s not easy to assess what people there really think of him and his legacy. But we will also never know how popular Navalny would have been in the “normal” political system he fought for.

    What made Navalny the force he was?

    Navalny didn’t mean for the humble yellow rubber duck to become such a potent symbol of resistance.

    In March 2017, the ACF published its latest investigation into elite corruption, this time focusing on then-prime minister (and former president), Dmitry Medvedev. Navalny’s team members had become masters of producing slick videos that enabled their message to reach a broad audience. A week after posting, the film had racked up over 7 million views on YouTube – an extraordinary number at that time.

    The film included shocking details of Medvedev’s alleged avarice, including yachts and luxury properties. In the centre of a large pond in one of these properties was a duck house, footage of which was captured by the ACF using a drone.

    Video: ACF.

    Such luxuries jarred with many people’s view of Medvedev as being a bit different to Putin and his cronies. As Navalny wrote in his memoir, Medvedev had previously seemed “harmless and incongruous”. (At the time, Medvedev’s spokeswoman said it was “pointless” to comment on the ACF investigation, suggesting the report was a “propaganda attack from an opposition figure and a convict”.)

    But people were angry, and the report triggered mass street protests across Russia. They carried yellow ducks and trainers, a second unintended symbol from the film given Medvedev’s penchant for them.

    Another reason why so many people came out to protest on March 26 2017 was the organising work carried out by Navalny’s movement.

    The previous December, Navalny had announced his intention to run in the 2018 presidential election. As part of the campaign, he and his team created a network of regional headquarters to bring together supporters and train activists across Russia. Although the authorities had rejected Navalny’s efforts to register an official political party, this regional network functioned in much the same way, gathering like-minded people in support of an electoral candidate. And this infrastructure helped get people out on the streets.

    The Kremlin saw this as a clear threat. According to a December 2020 investigation by Bellingcat, CNN, Der Spiegel and The Insider, the FSB assassination squad implicated in the Novichok poisoning of Navalny had started trailing him in January 2017 – one month after he announced his run for the presidency.

    Alexei Navalny on a Moscow street after having zelyonka dye thrown in his face, April 2017.
    Evgeny Feldman via Wikimedia, CC BY-NC-SA

    At the protests against Medvedev, the authorities’ growing intolerance of Navalny was also on display – he was detained, fined and sentenced to 15 days’ imprisonment.

    The Medvedev investigation was far from the beginning of Navalny’s story as a thorn in the Kremlin’s side. But this episode brings together all of the elements that made Navalny the force he was: anti-corruption activism, protest mobilisation, attempts to run as a “normal” politician in a system rigged against him, and savvy use of social media to raise his profile in all of these domains.

    Courting controversy

    In Patriot, Navalny writes that he always “felt sure a broad coalition was needed to fight Putin”. Yet over the years, his attempts to form that coalition led to some of the most controversial points of his political career.

    In a 2007 video, Navalny referred to himself as a “certified nationalist”, advocating for the deportation of illegal immigrants, albeit without using violence and distancing himself from neo-Nazism. In the video, he says: “We have the right to be Russians in Russia, and we’ll defend that right.”

    Although alienating some, Navalny was attempting to present a more acceptable face of nationalism, and he hoped to build a bridge between nationalists and liberals in taking on the Kremlin’s burgeoning authoritarianism.

    But the prominence of nationalism in Navalny’s political identity varied markedly over time, probably reflecting his shifting estimations of which platform could attract the largest support within Russia. By the time of his thwarted run in the 2018 presidential election, nationalist talking points were all but absent from his rhetoric.

    However, some of these former comments and positions continue to influence how people view him. For example, following Russia’s annexation of Crimea in 2014, Navalny tried to take a pragmatic stance. While acknowledging Russia’s flouting of international law, he said that Crimea was “now part of the Russian Federation” and would “never become part of Ukraine in the foreseeable future”.

    Many Ukrainians take this as clear evidence that Navalny was a Russian imperialist. Though he later revised his position, saying Crimea should be returned to Ukraine, some saw this as too little, too late. But others were willing to look past the more controversial parts of his biography, recognising that Navalny represented the most effective domestic challenge to Putin.

    Another key attempt to build a broad political coalition was Navalny’s Smart Voting initiative. This was a tactical voting project in which Navalny’s team encouraged voters to back the individual thought best-placed to defeat the ruling United Russia candidate, regardless of the challenger’s ideological position.

    The project wasn’t met with universal approval. Some opposition figures and voters baulked at, or flatly refused to consider, the idea of voting for people whose ideological positions they found repugnant – or whom they viewed as being “fake” opposition figures, entirely in bed with the authorities. (This makes clear that Navalny was never the leader of the political opposition in Russia; he was, rather, the leading figure of a fractious constellation of individuals and groups.)

    But others relished the opportunity to make rigged elections work in their favour. And there is evidence that Smart Voting did sometimes work, including in the September 2020 regional and local elections, for which Navalny had been campaigning when he was poisoned with Novichok.

    In an astonishing moment captured on film during his recovery in Germany, Navalny speaks to an alleged member of the FSB squad sent to kill him. Pretending to be the aide to a senior FSB official, Navalny finds out that the nerve agent had been placed in his underpants.

    How do Russians feel about Navalny now?

    It’s like a member of the family has died.

    This is what one Russian friend told me after hearing of Navalny’s death a year ago. Soon afterwards, the Levada Center – an independent Russian polling organisation – conducted a nationally representative survey to gauge the public’s reaction to the news.

    The poll found that Navalny’s death was the second-most mentioned event by Russian people that month, after the capture of the Ukrainian city of Avdiivka by Russian troops. But when asked how they felt about his death, 69% of respondents said they had “no particular feelings” either way – while only 17% said they felt “sympathy” or “pity”.

    And that broadly fits with Navalny’s approval ratings in Russia. After his poisoning in 2020, 20% of Russians said they approved of his activities – but this was down to 11% by February 2024.

    Video: BBC.

    Of course, these numbers must be taken for what they are: polling in an authoritarian state regarding a figure vilified and imprisoned by the regime, during a time of war and amid draconian restrictions on free speech. To what extent the drop in support for Navalny was real, rather than reflecting the increased fear people had in voicing their approval for an anti-regime figure, is hard to say with certainty.

    When asked why they liked Navalny, 31% of those who approved of his activities said he spoke “the truth”, “honestly” or “directly”. For those who did not approve of his activities, 22% said he was “paid by the west”, “represented” the west’s interests, that he was a “foreign agent”, a “traitor” or a “puppet”.

    The Kremlin had long tried to discredit Navalny as a western-backed traitor. After Navalny’s 2020 poisoning, Putin’s spokesman, Dmitry Peskov, said that “experts from the United States’ Central Intelligence Agency are working with him”. The Russian state claimed that, rather than a patriot exposing official malfeasance with a view to strengthening his country, Navalny was a CIA stooge intent on destroying Russia.

    Peskov provided no evidence to back up this claim – and the official propaganda wasn’t believed by all. Thousands of Russians defied the authorities by coming out to pay their respects at Navalny’s funeral on March 1 2024. Many, if not all, knew this was a significant risk. Police employed video footage to track down members of the funeral crowd, including by using facial recognition technology.

    The first person to be detained was a Muscovite the police claimed they heard shouting “Glory to the heroes!” – a traditional Ukrainian response to the declaration “Glory to Ukraine!”, but this time referencing Navalny. She spent a night in a police station before being fined for “displaying a banned symbol”.

    Putin always avoided mentioning Navalny’s name in public while he was alive – instead referring to him as “this gentleman”, “the character you mentioned”, or the “Berlin patient”. (The only recorded instance of Putin using Navalny’s name in public when he was alive was in 2013.)

    However, having been re-elected president in 2024 and with Navalny dead, Putin finally broke his long-held practice, saying: “As for Navalny, yes he passed away – this is always a sad event.” It was as if the death of his nemesis diminished the potency of his name – and the challenge that Navalny had long presented to Putin.

    Nobody can become another Navalny

    Someone else will rise up and take my place. I haven’t done anything unique or difficult. Anyone could do what I’ve done.

    So wrote Navalny in the memoir published after his death. But that hasn’t happened: no Navalny 2.0 has yet emerged. And it’s no real surprise. The Kremlin has taken clear steps to ensure nobody can become another Navalny within Russia.

    In 2021, the authorities made a clear decision to destroy Navalny’s organisations within Russia, including the ACF and his regional network. Without the organisational infrastructure and legal ability to function in Russia, no figure has been able to take his place directly.

    More broadly, the fate of Navalny and his movement has had a chilling effect on the opposition landscape. So too have other steps taken by the authorities.

    Russia has become markedly more repressive since the start of its war on Ukraine. The human rights NGO First Department looked into the number of cases relating to “treason”, “espionage” and “confidential cooperation with a foreign state” since Russia introduced the current version of its criminal code in 1997. Of the more than 1,000 cases, 792 – the vast majority – were initiated following Russia’s full-scale invasion of Ukraine in 2022.

    Russian law enforcement has also used nebulous anti-extremism and anti-terrorism legislation to crack down on dissenting voices. Three of Navalny’s lawyers were sentenced in January 2025 for participating in an “extremist organisation”, as the ACF was designated by a Moscow court in June 2021. The Russian legislature has also passed a barrage of legislation relating to so-called “foreign agents”, to tarnish the work of those the regime regards as foreign-backed “fifth columnists”.

    Mass street protests are largely a thing of the past in Russia. Restrictions were placed on public gatherings during the COVID pandemic – but these rules were applied selectively, with opposition individuals and groups being targeted. And opportunities for collective action were further reduced following the full-scale invasion of Ukraine.

    Freedom of speech has also come under assault. Article 29, point five of the Russian constitution states: “Censorship shall be prohibited.” But in September 2024, Kremlin spokesperson Peskov said: “In the state of war that we are in, restrictions are justified, and censorship is justified.”

    Legislation passed very soon after the 2022 invasion of Ukraine made it illegal to comment on the Russian military’s activities truthfully – and even to call the war a war.

    YouTube – the platform so central to Navalny’s ability to spread his message – has been targeted. Without banning it outright – perhaps afraid of the public backlash this might cause – the Russian state media regulator, Roskomnadzor, has slowed down internet traffic to the site within Russia. The result has been a move of users to other websites supporting video content, including VKontakte – a Russian social media platform.

    In short, conditions in Russia are very different now compared to when Navalny first emerged. The relative freedom of the 2000s and 2010s gave him the space to challenge the corruption and authoritarianism of an evolving system headed by Putin. But this space has shrunk over time, to the point where no room remains for a figure like him within Russia.

    In 2019, Navalny told Ivan Zhdanov, who is now director of the ACF: “We changed the regime, but not in the way we wanted.” So, did Navalny and his team push the Kremlin to become more authoritarian – making it not only intolerant of him but also any possible successor?

    There may be some truth in this. And yet, the drastic steps taken by the regime following the start of the war on Ukraine suggest there were other, even more significant factors that have laid bare the violent nature of Putin’s personal autocracy – and the president’s disdain for dissenters.

    Plenty for Russians to be angry about

    How can we win the war when dedushka [grandpa] is a moron?

    In June 2023, Evgeny Prigozhin – a long-time associate of Putin and head of the private military Wagner Group – staged an armed rebellion, marching his forces on the Russian capital. This was not a full-blown political movement against Putin. But the target of Prigozhin’s invective against Russia’s military leadership had become increasingly blurry, testing the taboo of direct criticism of the president – who is sometimes referred to, disparagingly, as “grandpa” in Russia.

    And Prigozhin paid the price. In August 2023, he was killed when the private jet he was flying in crashed after an explosion on board. Afterwards, Putin referred to Prigozhin as a “talented person” who “made serious mistakes in life”.

    In the west, opposition to the Kremlin is often associated with more liberal figures like Navalny. Yet the most consequential domestic challenge to Putin’s rule came from a very different part of the ideological spectrum – a figure in Prigozhin leading a segment of Russian society that wanted the Kremlin to prosecute its war on Ukraine even more aggressively.

    Video: BBC.

    Today, there is plenty for Russians to be angry about, and Putin knows it. He recently acknowledged an “overheating of the economy”. This has resulted in high inflation, in part due to all the resources being channelled into supporting the war effort. Such cost-of-living concerns weigh more heavily than the war on the minds of most Russians.

    A favourite talking point of the Kremlin is how Putin imposed order in Russia following the “wild 1990s” – characterised by economic turbulence and symbolised by then-president Boris Yeltsin’s public drunkenness. Many Russians attribute the stability and rise in living standards they experienced in the 2000s with Putin’s rule – and thank him for it by providing support for his continued leadership.

    The current economic problems are an acute worry for the Kremlin because they jeopardise this basic social contract struck with the Russian people. In fact, one way the Kremlin tried to discredit Navalny was by comparing him with Yeltsin, suggesting he posed the same threats as a failed reformer. In his memoir, Navalny concedes that “few things get under my skin more”.

    Although originally a fan of Yeltsin, Navalny became an ardent critic. His argument was that Yeltsin and those around him squandered the opportunity to make Russia a “normal” European country.

    Navalny also wanted Russians to feel entitled to more. Rather than be content with their relative living standards compared with the early post-Soviet period, he encouraged them to imagine the level of wealth citizens could enjoy based on Russia’s extraordinary resources – but with the rule of law, less corruption, and real democratic processes.

    ‘Think of other possible Russias’

    When looking at forms of criticism and dissent in Russia today, we need to distinguish between anti-war, anti-government, and anti-Putin activities.

    Despite the risk of harsh consequences, there are daily forms of anti-war resistance, including arson attacks on military enlistment offices. Some are orchestrated from Ukraine, with Russians blackmailed into acting. But other cases are likely to be forms of domestic resistance.

    Criticism of the government is still sometimes possible, largely because Russia has a “dual executive” system, consisting of a prime minister and presidency. This allows the much more powerful presidency to deflect blame to the government when things go wrong.

    There are nominal opposition parties in Russia – sometimes referred to as the “systemic opposition”, because they are loyal to the Kremlin and therefore tolerated by the system. Within the State Duma, these parties often criticise particular government ministries for apparent failings. But they rarely, if ever, now dare criticise Putin directly.

    Nothing anywhere close to the challenge presented by Navalny appears on the horizon in Russia – at either end of the political spectrum. But the presence of clear popular grievances, and the existence of organisations (albeit not Navalny’s) that could channel this anger should the Kremlin’s grip loosen, mean we cannot write off all opposition in Russia.

    Navalny’s wife, Yulia, has vowed to continue her husband’s work. And his team in exile maintain focus on elite corruption in Russia, now from their base in Vilnius, Lithuania. The ACF’s most recent investigation is on Igor Sechin, CEO of the oil company Rosneft.

    But some have argued this work is no longer as relevant as it was. Sam Greene, professor in Russian politics at King’s College London, captured this doubt in a recent Substack post:

    [T]here is a palpable sense that these sorts of investigations may not be relevant to as many people as they used to be, given everything that has transpired since the mid-2010s, when they were the bread and butter of the Anti-Corruption Foundation. Some … have gone as far as to suggest that they have become effectively meaningless … and thus that Team Navalny should move on.

    Navalny’s team are understandably irritated by suggestions they’re no longer as effective as they once were. But it’s important to note that this criticism has often been sharpest within Russia’s liberal opposition. The ACF has been rocked, for example, by recent accusations from Maxim Katz, one such liberal opposition figure, that the organisation helped “launder the reputations” of two former bank owners. In their response, posted on YouTube, the ACF referred to Katz’s accusations as “lies” – but this continued squabbling has left some Russians feeling “disillusioned and unrepresented”.

    So, what will Navalny’s long-term legacy be? Patriot includes a revealing section on Mikhail Gorbachev – the last leader of the Soviet Union, whom Navalny describes as “unpopular in Russia, and also in our family”. He continues:

    Usually, when you tell foreigners this, they are very surprised, because Gorbachev is thought of as the person who gave Eastern Europe back its freedom and thanks to whom Germany was reunited. Of course, that is true … but within Russia and the USSR he was not particularly liked.

    At the moment, there is a similar split in perceptions of Navalny. Internationally, he was nominated for the Nobel Peace Prize, awarded the Sakharov Prize by the European Parliament, and a documentary about him won an Oscar.

    But there are also those outside of Russia who remain critical: “Navalny’s life has brought no benefit to the Ukrainian victory; instead, he has caused considerable harm,” wrote one Ukrainian academic. “He fuelled the illusion in the west that democracy in Russia is possible.”

    Trailer for the Oscar-winning documentary Navalny.

    Inside Russia, according to Levada Center polling shortly after his death, 53% of Russians thought Navalny played “no special role” in the history of the country, while 19% said he played a “rather negative” role. Revealingly, when commenting on Navalny’s death, one man in Moscow told RFE/RL’s Russian Service: “I think that everyone who is against Russia is guilty, even if they are right.”

    But, for a small minority in Russia, Navalny will go down as a messiah-like figure who miraculously cheated death in 2020, then made the ultimate sacrifice in his battle of good and evil with the Kremlin. This view may have been reinforced by Navalny’s increasing openness about his Christian faith.

    Ultimately, Navalny’s long-term status in Russia will depend on the nature of the political system after Putin has gone. Since it seems likely that authoritarianism will outlast Putin, a more favourable official story about Navalny is unlikely to emerge any time soon. However, how any post-Putin regime tries to make sense of Navalny’s legacy will tell us a lot about that regime.

    While he was alive, Navalny stood for the freer Russia in which he had emerged as a leading opposition figure – and also what he called the “Beautiful Russia of the Future”. Perhaps, after his death, his lasting legacy in Russia remains the ability for some to think – if only in private – of other possible Russias.


    For you: more from our Insights series:

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    Ben Noble has previously received funding from the British Academy and the Leverhulme Trust. He is an Associate Fellow of Chatham House.

    ref. What is Navalny’s legacy for Russia? – https://theconversation.com/what-is-navalnys-legacy-for-russia-249692

    MIL OSI – Global Reports

  • MIL-OSI Security: First Woman Presidentially Appointed as United States Attorney for the District of Utah Departs from Post

    Source: Office of United States Attorneys

    SALT LAKE CITY, Utah — The first woman presidentially appointed as the United States Attorney for the District of Utah and sworn into office as the 38th United States Attorney to serve in the State of Utah, leaves the U.S. Attorney’s Office. The Honorable Trina A. Higgins was nominated by President Joseph R. Biden Jr. on January 31, 2022. Her last day as United States Attorney is February 16, 2025.

    Under Higgins’ leadership, the U.S. Attorney’s Office in Utah focused on cases that have the largest impact and cause the most harm to Utah citizens. Working with federal, state, local, and tribal law enforcement partners, the U.S. Attorney’s Office significantly increased the number of financial crime prosecutions in Utah; brought more complex narcotics and firearm cases focused on defendants higher in criminal organizations; and prosecuted many significant violent crime cases, including murders, sexual assaults, child exploitation, human trafficking, robberies, and carjackings.

    During her tenure, The U.S. Attorney’s Office tried 35 jury trials, including three homicides committed in Tribal communities. United States Attorney Higgins was the trial attorney in one case where a man brutally murdered a Navajo woman in front of her two young daughters in the Navajo Nation. The jury found him guilty, and he was sentenced to life in prison.

    United States Attorney Higgins also served on several Attorney General’s Advisory Committee subcommittees for Attorney General Merrick B. Garland. Those included the Environmental Justice Subcommittee, the Terrorism and National Security Subcommittee, and the Native American Issues Subcommittee.

    Maintaining the United States Attorney’s strong partnerships with federal, state, local, and tribal law enforcement agencies, United States Attorney Higgins made it a priority to strengthen and build upon those relationships to pursue justice and better serve the people of Utah.

    Leaders in the law enforcement community offered comments regarding U.S Attorney Higgins’ service.

    “Strong partnerships between law enforcement and prosecutors are essential to upholding the rule of law. U.S. Attorney Higgins has been an invaluable friend to the FBI and a staunch supporter of our mission,” said Mehtab Syed, Special Agent in Charge of the Salt Lake City FBI. “During her tenure, she championed the safety of Utahns, and we thank her for her years of dedicated public service.”

    “United States Attorney Trina Higgins has been an engaged and dedicated law enforcement partner as well as a steadfast advocate of Project Safe Neighborhoods,” said ATF Special Agent in Charge Brent Beavers. “Her extensive experience as a career prosecutor, and unwavering commitment in her pursuit of justice have been pivotal in the successful prosecution of many complex cases.”

    “I would like to thank United States Attorney Higgins for her many years of dedicated service as a federal prosecutor and as the U.S. Attorney for the District of Utah,” said U.S. Marshal Justin Martinez of the District of Utah. “USA Higgins is a consummate professional and has always kept the lines of communication open.  USA Higgins is an extremally effective leader and a real change agent.  She will be greatly missed by the U.S. Marshals Service and every federal, state and local agency she works with.”

    “With appreciation, we thank United States Attorney Higgins for her dedication to DEA efforts in the state of Utah,” said DEA Rocky Mountain Field Division Special Agent in Charge Jonathan Pullen. “Cooperation and hard work between DEA and the U.S. Attorney’s Office for the District of Utah, has led to many successful prosecutions. On behalf of the men and women of DEA, we wish nothing but the best for United States Attorney Higgins now and into the future.”

    “HSI is grateful for its long-standing relationship with United States Attorney Higgins and her staff,” said HSI Utah Assistant Special Agent in Charge Brandon Crane. “The collaboration has had a significant impact on public safety throughout Utah and stands as an example for future collaborations.”

    “United States Attorney Higgins has been a tremendous partner in supporting the U.S. Postal Inspection Service’s efforts to safeguard the U.S. Mail, postal workers, and the public,” said Glen Henderson, Inspector in Charge of the Phoenix Division.  “United States Attorney Higgins was committed to holding accountable those who harm postal employees or exploit the U.S. Mail for illicit activities, including narcotics distribution.  It has been a pleasure to collaborate with United States Attorney Higgins and we wish her continued success in all her future endeavors.”

    “I want to thank United States Attorney Higgins for her partnership and outstanding leadership in working with our local law enforcement agencies,” said Salt Lake County Sheriff Rosie Rivera. “She prioritized complex and violent offender cases to improve safety within the communities we serve.”

    “United States Attorney Trina Higgins’ dedication to justice and service to the community is truly exceptional and will be greatly missed,” said Salt Lake City Police Chief Mike Brown. “Her career as a dedicated prosecutor made our city safer—whether it was prosecuting some of our first Project Safe Neighborhood cases or complex, high-profile, or challenging cases. United States Attorney Higgins handled every case with professionalism and a true sense of duty. Never did she hide from the difficult cases. We will always remember USA Higgins’ compassion for crime victims and their families. She made sure victims’ voices were heard and understood in the pursuit of justice. While we will miss United States Attorney Higgins greatly, I know her legacy will endure through the District of Utah because of her distinguished career.”

    United States Attorney Higgins has been in public service for 30 years. Prior to her leadership role as U.S. Attorney, Higgins served as an Assistant United States Attorney for over two decades and as a Salt Lake County Deputy District Attorney. At the time of her nomination, Higgins was serving as the Mediterranean Legal Advisor at the United States embassies in Valletta, Malta and Nicosia, Cyprus. A Utah native, Higgins earned her undergraduate degree from Weber State University and Juris Doctor degree from the S.J. Quinney College of Law at the University of Utah, where she also worked as an adjunct professor for a decade. 
     

    MIL Security OSI

  • MIL-OSI USA: Summary of the 10th DSCOVR EPIC and NISTAR Science Team Meeting

    Source: NASA

    Introduction
    The 10th Deep Space Climate Observatory (DSCOVR) Earth Polychromatic Camera (EPIC) and National Institute of Standards and Technology (NIST) Advanced Radiometer [NISTAR] Science Team Meeting (STM) was held October 16–18, 2024. Over 50 scientists attended, most of whom were from NASA’s Goddard Space Flight Center (GSFC), with several participating from other NASA centers, U.S. universities, and U.S. Department of Energy laboratories. There was one international participant – from Estonia. A full overview of DSCOVR’s Earth-observing instruments was published in a previous article in The Earth Observer and will not be repeated here. This article provides the highlights of the 2024 meeting. The meeting agenda and full presentations can be downloaded from GSFC’s Aura Validation Data Center.
    Opening Presentations
    The opening session of the 10th DSCOVR STM was special. Former U.S., Vice President Al Gore attended the opening session and gave a presentation at the panel discussion “Remote Sensing and the Future of Earth Observations” – see Photo. Gore was involved in the early days of planning the DSCOVR mission, which at that time was known as Triana. He reminisced about his involvement and praised the team for the work they’ve done over the past decade to launch and maintain the DSCOVR mission. Following the STM Opening Session, Gore spoke at a GSFC Engage session in Building 3 later that afternoon on the same topic, but before a wider audience. [Link forthcoming.]
    Following Gore’s remarks, the remainder of the opening session consisted of a series of presentations from DSCOVR mission leaders and representatives from GSFC and National Oceanic and Atmospheric Administration (NOAA). Thomas Neumann [GSFC, Earth Sciences Division (ESD)—Deputy Director] opened the meeting and welcomed Vice President Gore and the STM participants on behalf of the ESD. Adam Szabo [GSFC—DSCOVR Project Scientist] briefly reported that the spacecraft was still in “good health.” The EPIC and NISTAR instruments on DSCOVR continue to return their full science observations. He also gave an update on DSCOVR Space Weather research. Alexander Marshak [GSFC—DSCOVR Deputy Project Scientist] briefly described DSCOVR mission history and the science results based on DSCOVR observations from the first Sun–Earth Lagrange point (hereinafter, the L1 point). He also summarized the major EPIC and NISTAR results to date. At this time, more than 125 papers related to DSCOVR are listed on the EPIC website. Elsayed Talaat [NOAA, Office of Space Weather observations—Director] discussed the future of Earth and space science studies from the L1 point.

    Updates on DSCOVR Operations
    The DSCOVR mission components continue to function nominally. The meeting was an opportunity to update participants on progress over the past year on several fronts, including data acquisition, processing, and archiving, and release of new versions of several data products. The number of people using DSCOVR data continues to increase, with a new Science Outreach Team having been put in place to aid users in several aspects of data discovery, access, and user friendliness.
    Amanda Raab [NOAA, DSCOVR Mission Operations and Systems] reported on the current status of the DSCOVR mission. She also discussed spacecraft risks and issues such as memory fragmentation and data storage task anomalies but indicated that both these issues have been resolved.
    Hazem Mahmoud [NASA’s Langley Research Center (LaRC)] discussed the work of the Atmospheric Science Data Center (ASDC), which is based at LaRC. He showed DSCOVR mission metrics since 2015, focusing on data downloads and the global outreach of the mission. He noted that there has been a significant rise in the number of downloads and an increasing diversity of countries accessing ozone (O3), aerosol, and cloud data products. Mahmoud also announced that the ASDC is transitioning to the Amazon Web Services cloud, which will further enhance global access and streamline DSCOVR data processing.
    Karin Blank [GSFC] covered the discovery of a new type of mirage that can only be seen in deep space from EPIC. The discussion included the use of a ray tracer in determining the origin of the phenomenon, and under what conditions it can be seen.
    Alexander Cede [SciGlob] and Ragi Rajagopalan [LiftBlick OG] gave an overview of the stability of the EPIC Level-1A (L1A) data over the first decade of operation. They explained that the only observable changes in the EPIC calibration are to the dark count and flat field can – and that these changes can be entirely attributed to the temperature change of the system in orbit compared to prelaunch conditions. No additional hot or warm pixels have emerged since launch and no significant sensitivity drifts have been observed. The results that Cede and Rajagopalan showed that EPIC continues to be a remarkably stable instrument, which is attributed to a large extent to its orbit around the L1 point, which is located outside the Earth’s radiation belts and thus an extremely stable temperature environment. Consequently, in terms of stability, the L1 point is far superior to other Earth observation points, e.g., ground-based, low-Earth orbit (LEO), polar orbit, or geostationary Earth orbit (GEO).
    Marshall Sutton [GSFC] discussed the state of the DSCOVR Science Operation Center (DSOC). He also talked about processing EPIC Level-1 (L1) data into L2 science products, daily images available on the EPIC website, and special imaging opportunities, e.g., volcanic eruptions.
    EPIC Calibration
    After 10 years of operation in space, the EPIC instrument on DSCOVR continues to be a remarkably stable instrument. The three presentations describe different ways that are used to verify the EPIC measurements remain reliable.
    Conor Haney [LaRC] reported on anomalous outliers during February and March 2023 from the broadband shortwave (SW) flux using EPIC L1B channel radiances. To ensure that these outliers were not a result of fluctuations in the EPIC L1B channel radiances, both the EPIC radiance measurements and coincident, ray-matched radiance measurements from the Visible Infrared Imaging Radiometer Suite (VIIRS), on the Suomi National Polar-orbiting Partnership (Suomi NPP) platform, were processed using the same deep convective cloud invariant target (DCC-IT) algorithm. This analysis confirmed that the anomalous behavior was due to the DCC-IT algorithm – and not because of fluctuations in the EPIC L1B channel radiances. The improved DCC-IT methodology was also applied to the EPIC L1B radiances. The results indicate that the EPIC record is quite stable with a lower uncertainty than when processed using the previous DCC-IT methodology.
    Igor Geogdzhaev [NASA’s Goddard Institute for Space Studies (GISS)/Columbia University] reported that EPIC Visible–Near Infrared (VIS-NIR) calibration based on VIIRS (on Suomi NPP) data has showed excellent stability, while VIIRS (on NOAA-20 and -21) derived gains agree to within 1–2%. Preliminary analysis showed continuity in the gains derived from Advanced Baseline Imager (ABI) data. (ABI flies on NOAA’s two operational Geostationary Operational Environmental Satellite–Series R satellites – GOES-17 and GOES-18.
    Liang–Kang Huang [Science Systems and Applications, Inc. (SSAI)] reported on updates to the EPIC ultraviolet (UV) channel sensitivity time dependences using Sun-normalized radiance comparisons between EPIC and measurements from the Ozone Mapping and Profiler Suite (OMPS) Nadir Mapper (NM) on Suomi NPP, with coinciding footprints and solar/satellite angles. Huang’s team determined vignetting factors in the sensitivity calibration between 2021–2024, as a function of charge coupled device (CCD) pixel radius and pixel polar angles, using special lunar measurement sequences.
    NISTAR Status and Science with Its Observations
    The NISTAR instrument remains fully functional and continues its uninterrupted data record. The NISTAR-related presentations during this meeting included more details on specific topics related to NISTAR as well as on efforts to combine information from both EPIC and NISTAR.
    Steven Lorentz [L-1 Standards and Technology, Inc.] reported that the NISTAR on DSCOVR has been measuring the irradiance from the sunlit Earth in three bands for more than nine years. The three bands measure the outgoing total and reflected-solar radiation from Earth at a limited range of solar angles. To compare the long-term stability of EPIC and NISTAR responses, researchers developed a narrowband to wideband conversion model to allow the direct comparison of the EPIC multiband imagery and NISTAR SW – see Figure 1 – and silicon photodiode channels. Lorentz presented daily results spanning several years. The comparison employed different detectors from the same spacecraft – but with the same vantage point – thereby avoiding any model dependent orbital artifacts.

    Clark Weaver [University of Maryland, College Park (UMD)] used spectral information from the SCanning Imaging Absorption spectroMeter for Atmospheric CartograpHY (SCIAMACHY), which flew on the European Space Agency’s (ESA) Envisat satellite from 2002–2012, to fill EPIC spectral gaps. He reported on construction of a composite height resolution spectrum that was spectrally integrated to produce SW energy. Weaver explained that he compared the EPIC reflected SW with four-hour averages from Band 4 on NISTAR. He used spectral information from SCIAMACHY to fill in gaps. Weaver also discussed results of a comparison of area integrated EPIC SW energy with observations from NISTAR . 
    Andrew Lacis [GISS] reported on results of analysis of seven years of EPIC-derived planetary albedo for Earth, which reveal global-scale longitudinal variability occurring over a wide range of frequencies – with strong correlation between nearby longitudes and strong anticorrelation between diametrically opposed longitudes. This behavior in the Earth’s global-scale energy budget variability is fully corroborated by seven years of NISTAR silicon photodiode measurements, which view the Earth with 1º longitudinal resolution. This analysis establishes the DSCOVR mission EPIC/NISTAR measurements as a new and unmatched observational data source for evaluating global climate model performance– e.g., see Figure 2.

    Wenying Su [LaRC] discussed global daytime mean SW fluxes within the EPIC field of view produced from January 2016–June 2024. These quasi-hourly SW fluxes agree very well with the Synoptic data product from the Clouds and the Earth’s Radiant Energy System (CERES) instruments (currently flying on the Terra and Aqua, Suomi NPP, and NOAA-20 platforms) with the root mean square errors (rmse) less than 3 W/m2. This SW flux processing framework will be used to calculate NISTAR SW flux when Version 4 (V4) of the NISTAR radiance becomes available. Su noted that SW fluxes from EPIC are not suitable to study interannual variability as the magnitude of EPIC flux is sensitive to the percentage of daytime area visible to EPIC.
    Update on EPIC Products and Science Results
    EPIC has a suite of data products available. The following subsections summarize content during the DSCOVR STM related to these products. The updates focus on several data products and the related algorithm improvements. 
    Total Column Ozone
    Jerry Ziemke [Morgan State University (MSU), Goddard Earth Sciences Technology and Research–II (GESTAR II)] and Natalya Kramarova [GSFC] reported that tropospheric O3 from DSCOVR EPIC shows anomalous reductions of ~10% throughout the Northern Hemisphere (NH) starting in Spring 2020 that continues to the present. The EPIC data, along with other satellite-based (e.g., Ozone Monitoring Instrument (OMI) on NASA’s Aura platform) and ground-based (e.g., Pandora) data, indicate that the observed NH reductions in O3 are due to combined effects from meteorology and reduced pollution, including reduced shipping pollution in early 2020 (during COVID) – see Figure 3. EPIC 1–2 hourly data are also used to evaluate hourly total O3 and derived tropospheric O3 from NASA’s Tropospheric Emissions: Monitoring of Pollution (TEMPO) geostationary instrument. Ziemke explained that comparison of TEMPO data with EPIC data has helped the researchers characterize a persistent latitude-dependent offset in TEMPO total O3 data of ~10–15% from south to north over the North American continent.

    Algorithm Improvement for Ozone and Sulfur Dioxide Products
    Kai Yang [UMD] presented a comprehensive evaluation of total and tropospheric O3 retrievals, highlighting the long-term stability and high accuracy of EPIC measurements. He also validated EPIC’s volcanic sulfur dioxide (SO2) retrievals by comparing them with ground-based Brewer spectrophotometer measurements and summarized EPIC’s observations of SO2 from recent volcanic eruptions.
    Simon Carn [University of Michigan] showed the first comparisons between the EPIC L2 volcanic SO2 product and SO2 retrievals from the Geostationary Environment Monitoring Spectrometer (GEMS) on the Korean GEO-Kompsat-2B satellite. GEMS observes East Asia as part of the new geostationary UV air quality (GEO-AQ) satellite constellation (which also includes TEMPO that observes North America and will include the Ultraviolet–Visible–Near Infrared (UVN) instrument on the European Copernicus Sentinel-4 mission, that will be launched in 2025 to observe Europe and surrounding areas) – but is not optimized for measurements of high SO2 columns during volcanic eruptions. EPIC SO2 data for the 2024 eruption of Ruang volcano in Indonesia are being used to validate a new GEMS volcanic SO2 product. Initial comparisons show good agreement between EPIC and GEMS before volcanic cloud dispersal and confirm the greater sensitivity of the hyperspectral GEMS instrument to low SO2 column amounts.
    Aerosols
    Alexei Lyapustin [GSFC] reported that the latest EPIC aerosols algorithm (V3) simultaneously retrieves aerosol optical depth, aerosol spectral absorption, and aerosol layer height (ALH) – achieving high accuracy. He showed that global validation of the single scattering albedo in the blue and red shows 66% and 81–95% agreement respectively, with Aerosol Robotic Network (AERONET) observations – which is within the expected error of 0.03 for smoke and dust aerosols. Lyapustin also reported on a comparison of EPIC aerosol data collected from 2015–2023 by the Cloud-Aerosol Lidar with Orthogonal Polarization (CALIOP), which flew on the Cloud-Aerosol Lidar and Infrared Pathfinder Satellite Observations (CALIPSO) mission. The results show that ALH is retrieved with rmse ~1.1 km (0.7 mi). ALH is unbiased over the ocean and is underestimated by 450 m (1470 ft) for the smoke and by 750 m (2460 ft) for the dust aerosols over land. 
    Myungje Choi and Sujung Go [both from University of Maryland, Baltimore County’s (UMBC), GESTAR II] presented results from a global smoke and dust characterization using Multi-Angle Implementation of Atmospheric Correction (MAIAC) algorithm. This study characterized smoke and dust aerosol properties derived from MAIAC EPIC processing, examining spectral absorption, ALH, and chemical composition (e.g., black and brown carbon). Regions with smoldering wildfires, e.g., North America and Siberia, exhibited high ALH and a significant fraction of brown carbon, while Central Africa showed lower ALH with higher black carbon emissions.
    Omar Torres [GSFC] discussed how L1 DSCOVR-EPIC observations are being used to study air quality (i.e., tropospheric O3 and aerosols) globally. Torres noted that this application of EPIC-L1 observations is of particular interest in the Southern Hemisphere (SH) where, unlike over the NH, there are currently no space GEO-based air quality measurements – and no plans for them in the foreseeable future.
    Hiren Jethva [MSU, GESTAR II] presented the new results of the aerosol optical centroid height retrieved from the EPIC Oxygen-B band observations. He described the algorithm details, showed retrieval maps, and reviewed the comparative analysis against CALIOP backscatter-weighted measurements. The analysis showed a good level of agreement with more than 70% of matchup data within 1–1.5 km (0.6–0.9 mi) difference.
    Jun Wang [University of Iowa] presented his team’s work on advancing the second generation of the aerosol optical centroid height (AOCH) algorithm for EPIC. Key advancements included: constraining surface reflectance in aerosol retrieval using an EPIC-based climatology of surface reflectance ratios between 442–680 nm; incorporating a dynamic aerosol model to characterize aged smoke particles; and employing a spectral slope technique to distinguish thick smoke plumes from clouds. Results show that both atmospheric optical depth (AOD) and AOCH retrievals are improved in the second generation of AOCH algorithm.
    Olga Kalashnikova [NASA/Jet Propulsion Laboratory (JPL)] reported on improving brown carbon evolution processes in the Weather Research and Forecasting model coupled with Chemistry (WRF-Chem) model with EPIC products. She indicated that DSCOVR product evaluation, using lidar aerosol height measurements from CALIOP, led to an improved operational brown carbon product. To better resolve the temporal evolution of brown carbon, chemical transport models need to include more information about near-source fires.
    Mike Garay [NASA/Jet Propulsion Laboratory (JPL)] discussed constraining near-source brown carbon emissions from 2024 Canadian ‘zombie’ fires with EPIC products. He reported that fires in British Columbia, Canada showed differences in brown carbon emission near the sources.  Garay explained that their investigation has revealed that these differences were related to fire intensity and variations in vegetation/soil content.
    Yuekui Yang [GSFC] presented work that examined the impact of Earth’s curvature consideration on EPIC cloud height retrievals. Biases under the Plane Parallel (PPL) assumption is studied by comparing results using the improved pseudo-spherical shell approximation. PPL retrievals in general bias high and for a cloud with height of 5 km (3 mi), the bias is about 6%.
    Alfonso Delgado Bonal [UMBC] stated that the EPIC vantage point offers a unique opportunity to observe not only the current state of the Earth but also its temporal evolution. By capturing multiple observations of the planet throughout the day, EPIC enables statistical reconstruction of diurnal patterns in clouds and other atmospheric parameters. Bonal’s team focused their research on O3 (primarily tropospheric) over the U.S. to demonstrate the presence of a diurnal cycle in the western regions of the continental U.S. However, ground-based data from PANDORA for specific locations do not support these diurnal variations – underscoring the critical role of space-based O3 retrievals. The proposed methodology is not limited to clouds or O3 but is broadly applicable to other EPIC measurements for the dynamic nature of our planet.
    Elizabeth Berry [Atmospheric and Environmental Research (AER)] presented results from a coincident DSCOVR–CloudSat dataset [covering 2015–2020]. Cloud properties (e.g., cloud height and optical depth) from DSCOVR and CloudSat are moderately correlated and show quite good agreement given differences in the instruments sensitivities and footprints. Berry explained that a machine-learning model trained on the coincident data demonstrates high accuracy at predicting the presence of vertical cloud layers. However, precision and recall metrics highlight the challenge of predicting the precise location of cloud boundaries.
    Anthony Davis [JPL] presented a pathway toward accurate estimation of the cloud optical thickness (COT) of opaque clouds and cloud systems, e.g., supercells, mesoscale convective complexes, and tropical cyclones (TCs). He described the approach, which uses differential oxygen absorption spectroscopy (DOAS) that has resolving power greater than 104 – which is comparable to that of the high-resolution spectrometers on NASA’s Orbiting Carbon Observatory–2 (OCO-2) – but is based upon the cloud information content of EPIC’s O2 A- and B-band radiances. Unlike the current operational retrieval of COT – which uses data from the Moderate Resolution Imaging Spectroradiometer (MODIS) on Terra and Aqua – the DOAS-based technique does not saturate at COT exceeding ~60. According to a popular TC model with two-moment microphysics, COT in a tropical storm or hurricane can reach well into the hundreds, sometimes exceeding 1000. Davis said that once the new COT estimates become available, they will provide new observational constraints on process and forecast models for TCs.
    Ocean
    Robert Frouin [Scripps Institution of Oceanography, University of California] discussed ocean surface radiation products derived from EPIC data. He explained that significant advancements have been achieved in processing and evaluating ocean biology and biogeochemistry products derived from EPIC imagery. V1 updates enhanced accuracy by integrating Modern-Era Retrospective analysis for Research and Applications V2 (MERRA-2) ancillary data and refining calculations for atmospheric and surface parameters. Frouin introduced several diurnal products, including hourly photosynthetically active radiation (PAR) fluxes, spectral water reflectance, and chlorophyll-a concentrations. He said that these new MODIS-derived products have been validated through comparisons with data from the Advanced Himawari Imager on the Japanese Himawar–8 and –9 satellites. In order to address the gaps in these diurnal products, Frouin explained that the team developed a convolutional neural network that has been used effectively to reconstruct missing PAR values with high accuracy.
    Vegetation
    Yuri Knyazikhin [Boston University] reported on the status of the Vegetation Earth System Data Record (VESDR) that provides a variety of parameters including: Leaf Area Index (LAI), diurnal courses of Normalized Difference Vegetation Index (NDVI), Sunlit LAI (SLAI), Fraction of incident Photosynthetically Active Radiation (FPAR) absorbed by the vegetation, Directional Area Scattering Function (DASF), Earth Reflector Type Index (ERTI), and Canopy Scattering Coefficient (CSC). Knyazikhin discussed analysis of the diurnal and seasonal variations of these quantities. EPIC LAI and FPAR are consistent with MODIS-derived measurements of the same parameters.
    Jan Pisek [University of Tartu/Tartu Observatory, Estonia] discussed efforts to derive leaf inclination information from EPIC data. The very first evaluation over Tumbarumba site (in New South Wales, Australia) showed that the angular variation in parameters obtained from EPIC reflects the expected variations due to the erectophile vegetation present at the site.
    Sun Glint
    Tamás Várnai [UMBC, JCET] discussed EPIC observations of Sun glint from ice clouds. The cloud glints come mostly from horizontally oriented ice crystals and have strong impact in EPIC cloud retrievals. Várnai reported that the EPIC glint product is available from the ASDC – see Figure 4. Glint data can help reduce the uncertainties related to horizontally oriented ice crystals and yield additional new insights about the microphysical and radiative properties of ice clouds.

    Alexander Kostinski [Michigan Technology University] explained that because they detected climatic signals (i.e., longer-term changes and semi-permanent features, e.g., ocean glitter), they developed a technique to suppress geographic “noise” in EPIC images that involves introducing temporally (monthly) and conditionally (classifying by surface/cover type, e.g., land, ocean, clouds) averaged reflectance images – see Figure 5. The resulting images display seasonal dependence in a striking manner. Additionally, cloud-free, ocean-only images highlight prominent regions of ocean glitter.

    Jiani Yang [Caltech] reported that spatially resolving light curves from DSCOVR is crucial for evaluating time-varying surface features and the presence of an atmosphere. Both of these features are essential for sustaining life on Earth – and thus can be used to assess the potential habitability of exoplanets. Using epsilon machine reconstruction, the statistical complexity from the time series data of these light curves can be calculated. The results show that statistical complexity serves as a reliable metric for quantifying the intricacy of planetary features. Higher levels of planetary complexity qualitatively correspond to increased statistical complexity and Shannon entropy, illustrating the effectiveness of this approach in identifying planets with the most dynamic characteristics.
    Other EPIC Science Results
    Guoyong Wen [MSU, GESTAR II] analyzed the variability of global spectral reflectance from EPIC and the integrated broadband reflectance on different timescales. He reported that on a diurnal timescale, the global reflectance variations in UV and blue bands are statistically similar – and drastically different from those observed in longer wavelength bands (i.e., green to NIR). The researchers also did an analysis of monthly average results and found that temporal averaging of the global reflectance reduces the variability across the wavelength and that the variability of broadband reflectance is similar to that for the red band on both timescales. These results are mainly due to the rotation of the Earth on diurnal timescale and the change of the Earth’s tilt angle. 
    Nick Gorkavyi [Science Systems and Applications, Inc. (SSAI)] reported that EPIC – located at the L1 point, 1.5 million km (0.9 million mi) away from Earth – can capture images of the far side of the Moon in multiple wavelengths. These images, taken under full solar illumination, can be used to calibrate photographs obtained by lunar artificial satellites. Additionally, he discussed the impact of lunar libration – the changing view of the Moon from Earth, or it’s apparent “wobble” – on Earth observations from the Moon. 
    Jay Herman [UMBC] discussed a comparison of EPIC O3 with TEMPO satellite and Pandora ground-based measurement. The results show that total column O3 does not have a significant photochemical diurnal variation. Instead, the daily observed diurnal variation is caused by weather changes in atmospheric pressure. This measurement result agrees with model calculations.
    Conclusion
    Alexander Marshak, Jay Herman, and Adam Szabo led a closing discussion with ST participants on how to make the EPIC and NISTAR instruments more visible in the community. It was noted that the EPIC website now allows visitors to observe daily fluctuations of aerosol index, cloud fraction, cloud height, and the ocean surface – as observed from the L1 point. More daily products, (e.g., aerosol height and sunlit leaf area index) will be added soon, which should attract more users to the website.
    Overall, the 2023 DSCOVR EPIC and NISTAR STM was successful. It provided an opportunity for participants to learn the status of DSCOVR’s Earth-observing instruments, EPIC and NISTAR, the status of recently released L2 data products, and the science results being achieved from the L1 point. As more people use DSCOVR data worldwide, the ST hopes to hear from users and team members at its next meeting. The latest updates from the mission can be found on the EPIC website. 
    Alexander MarshakNASA’s Goddard Space Flight Centeralexander.marshak@nasa.gov
    Adam SzaboNASA’s Goddard Space Flight Centeradam.szabo@nasa.gov

    MIL OSI USA News

  • MIL-OSI China: Munich Security Conference highlights Europe’s struggle for strategic realignment

    Source: China State Council Information Office

    The 61st Munich Security Conference, which kicked off on Friday, has underscored the complex challenges facing Europe and the urgent need for the continent to define its strategic role in an increasingly volatile global landscape.

    From the persistent conflict in Ukraine to rising uncertainties in the transatlantic alliance, as well as mounting pressures on the EU’s vision for the international order, the conference focused on the multiple crises Europe faces. It also highlighted the need for the continent to navigate these complexities and assert its place on the world stage.

    German President Frank-Walter Steinmeier addresses the opening ceremony of the 61st Munich Security Conference (MSC) in Munich, Germany, Feb. 14, 2025. [Photo by Gao Jing/Xinhua]

    DEMANDING ROLE IN UKRAINE PEACE TALK

    Ukrainian President Volodymyr Zelensky, speaking at the conference, said that once Ukraine reaches an agreement with the United States and Europe on how to end the conflict, he will be ready to hold direct talks with Russia. “I am ready to meet only in this case,” he stressed.

    The announcement came days after U.S. President Donald Trump had held separate phone calls with Russian President Vladimir Putin and the Ukrainian leader.

    Following a 90-minute phone call with Putin, Trump announced that negotiations to end the conflicts would start “immediately.”

    However, concerns ignited in Europe over being sidelined in peace talks.

    On Wednesday, a joint statement by multiple European countries and the European Commission stated, “Ukraine and Europe must be part of any negotiations.”

    German Chancellor Olaf Scholz echoed this sentiment on Thursday, stating that “a dictated peace will never find our support” and stressing that peace must last and ensure Ukraine’s sovereignty.

    Addressing the opening of the conference, German President Frank-Walter Steinmeier said “everyone wants this war to end,” adding that how it ends will have “a lasting impact on our security order” and the power position of Europe and the United States.

    European Commission President Ursula von der Leyen warned that “a failed Ukraine would weaken Europe, but it would also weaken the United States.”

    She expressed her concerns by saying that many in European security circles were “confused,” some even worried, by Washington’s recent comments.

    TRANSATLANTIC TIES UNDER STRAIN

    On Monday, the security conference released a report underscoring the challenges to the transatlantic relationship under the new U.S. administration.

    The report expressed apprehension about a “more selective, often unilateral, international engagement” from the United States and warned that the United States could relinquish its historic role as Europe’s security guarantor.

    Expressing his concerns about relations with the United States, Steinmeier said that the new U.S. administration has “a different worldview than we do,” one that disregards established rules, partnerships and trust.

    “We cannot change that. We must accept that and deal with it,” he said.

    The shift in responsibilities described in the conference report has already been reflected in actions taken by the new administration, such as imposing tariffs on steel and aluminum imports — a move the European Union deems unjustified and which “will not go unanswered.”

    “We know how quickly tariffs can affect essential transatlantic supply chains,” said von der Leyen, reiterating that trade wars and punitive tariffs make no sense.

    According to a survey conducted by the European Council on Foreign Relations after the U.S. presidential election, Europeans have adopted a newly pessimistic outlook on the transatlantic partnership.

    The survey revealed that Europeans increasingly view the United States less as an ally sharing the same interests and values and more as a necessary partner with whom they must strategically cooperate.

    Europe’s current struggles to address its security challenges highlight the risks of over-reliance on the United States and foreshadow growing difficulties in the transatlantic partnership, Wu Shicun, president of the Huayang Center for Maritime Cooperation and Ocean Governance, told Xinhua at the conference.

    He said Europe’s current predicament in resolving its security issues “warrants reflection,” suggesting that dependence on the United States for protection would significantly limit Europe’s autonomy and influence on the world stage.

    “I could sense at the (conference) that the future transatlantic partnership will face many challenges,” Wu said.

    BRACE OR BE BLOWN AWAY

    “Europe must use the potential for transatlantic tensions to get its act together and start working on necessary internal market reforms and boost European innovation and competitiveness,” Peterson Institute for International Economics commented in an opinion piece.

    Home to the world’s highest concentration of developed countries, the EU, once the world’s largest economy, has seen a continuous decline in its competitiveness in recent years.

    According to a flash estimate published by Eurostat, the EU’s statistical office, in the fourth quarter of 2024, seasonally adjusted GDP increased by 0.2 percent in the EU compared with the previous quarter.

    The slow pace highlights the ongoing challenges facing Europe’s economy, with risks ranging from geopolitical tensions and persistent energy vulnerabilities to escalating trade disputes and political unrest.

    A report titled “Multipolarization,” unveiled ahead of the Munich gathering, emphasized that Europe has been facing its most challenging geopolitical situation since the end of the Cold War, while underscoring the ongoing transformation of the international system into a more multipolar world.

    “It is imperative that the EU diversifies its trade relations and forges new partnerships with countries of the so-called Global South,” said the report.

    According to conference organizers, over 30 percent of speakers at this year’s conference will represent the Global South nations, ensuring their voices are heard in discussions on the evolving multipolar order.

    As the global landscape is increasingly defined by crisis, Europe’s ability to determine its role and strategic path will be of paramount importance, said Wang Yiwei, director of the Institute of International Affairs at Renmin University of China.

    In an interview with the Financial Times published on Friday, French President Emmanuel Macron championed the need for Europe to “muscle up” on defense and the economy.

    Trump’s designs on Gaza and Greenland were examples of the “extreme strategic uncertainty” the world is experiencing now, said Macron. This uncertainty demands a radical rethinking of how the EU and its member states operate. Macron has called on Europe to “wake up” and spend more on defense to reduce its reliance on the United States for its security.

    “This is Europe’s moment to accelerate and execute,” said the French president in the interview. “It has no choice. It is running out of road.”

    “A complacent shrug or a knee-jerk response to any soundbite coming out of the White House or Mar-a-Lago won’t be enough. Europe needs to take back control of its own destiny,” Carsten Brzeski, the global head of Macro for ING Research, warned in an article published in January.

    “2025 really is a make-it-or-break-it moment for Europe,” said Brzeski. “Europe needs to change. And change fast.”

    MIL OSI China News

  • MIL-OSI USA: Murray, Kaptur Demand Briefing to Congress on Reckless Layoffs Across Department of Energy, Including NNSA, Jeopardizing National Security

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ICYMI: Murray Releases Fact Sheet on Trump’s Mass Firings Across Government

    Washington, DC — Today, Senator Patty Murray (D-WA), Senate Appropriations Committee Vice Chair and Subcommittee on Energy and Water Development Ranking Member, and Congresswoman Marcy Kaptur (D-OH-09), Ranking Member of the House Appropriations Subcommittee on Energy and Water Development, issued the following statement in response to reports regarding thousands of probationary employee firings across the Department of Energy, including employees at the National Nuclear Security Administration (NNSA). The Members are demanding an immediate briefing to Congress by Secretary Chris Wright. 

    “We are alarmed about the thousands of probationary employee firings across the Department of Energy. The efforts to fire employees of the National Nuclear Security Administration are shocking. To order the firing of employees without knowing that NNSA is responsible for maintaining a safe, secure, and reliable nuclear weapons stockpile while also preventing, countering, and responding to a terrorist or other adversary with a nuclear or radiological device is utterly callous and dangerous.

    “While there have been reports that the Department has halted firings of NNSA employees, we remain deeply troubled that the Department has not reversed course on firing the rest of the Department’s probationary employees, and that those entrusted with nuclear security and safety were relieved of their duties at all–furthermore, we are now hearing disturbing news reports that fired nuclear safety employees whose dismissals were meant to be reversed cannot be contacted.

    “We find it deeply troubling that the Department—in standing firm in the decision to fire of hundreds of employees at the Office of Environmental Management despite walking back layoffs at NNSA—has sent a strong message that it does not view the oversight and safety of legacy nuclear weapons cleanup sites as a national security priority.

    “Further, there are at least 1800 federal workers, across the rest of the Department who are vital to the Department’s other missions supporting energy independence, lowering energy prices, and ensuring grid reliability, that were permanently fired.  Several energy programs were decimated, including one that sends checks to households to reduce energy costs for everyday Americans.  Reducing energy costs is an issue this Administration has allegedly prioritized, and yet their actions yesterday say otherwise.  Secretary Wright must brief Congress immediately on the Department’s actions and how that impacts its abilities to perform functions vital to its mission.

    “Until such time as we are briefed on these developments, we will not know the damage to our country and the world as a result of these haphazard and thoughtless firings. We strongly suggest your administration pay far closer attention to the work carried out by the federal employees subject to these seemingly indiscriminate and arbitrary layoffs. We are committed to ensuring that the Department of Energy is allowed to continue the missions which they have been entrusted to carry out for our safety, security, and to help lower energy costs.”

    MIL OSI USA News

  • MIL-OSI USA: FACT SHEET: Trump & Elon’s Layoffs Jeopardize Essential Services Americans Rely On, Threaten Critical Agency Objectives Keeping Americans Safe & Healthy 

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA) responded to the Trump administration’s mass firings of federal workers who are on their “probationary” period—meaning: federal workers who were hired or promoted within the past 1-2 years.  

    There is nothing efficient about indiscriminate mass firings. Although the exact number of employees in their probationary period changes with each pay period, data from March 2024 shows more than 220,000 federal employees were within their probationary period. More than one quarter, or 56,000, were employees at the Veterans Health Administration. The Partnership for Public Service estimates that there are now closer to 250,000 federal employees in their probationary period. Moreover, these employees are younger (around 27% are under the age of 30) and have the highest rates of employee engagement among all government workers. President Trump has also recently signed an Executive Order, which mandates that only one employee be hired for every four who are fired or depart.

    In a statement, Senator Murray said:

    “There is nothing ‘efficient’ about indiscriminately firing thousands upon thousands of workers in red and blue states whose work is badly needed. 

    “We are talking about safety engineers at the Hanford nuclear cleanup site, VA doctors and nurses, utility line workers in my home state, CDC health experts who investigate disease outbreaks, and so many others.

    “Two billionaires who have zero concept of what the federal workforce does are breaking the American government—decimating essential services and leaving all of us worse off. 

    “The lives upended by these callous firings will not just be the federal workers who lose their jobs, but the millions of Americans who rely on services these employees provide: health care, food safety, housing, lifesaving research, and so much else. 

    “Let’s be clear that these sweeping layoffs do not address fraud or waste. These firings are totally arbitrary–pushing out high performers and the promising next generation of our federal workforce who won’t be easily replaced. 

    “The scale and scope of Trump and Elon’s purge will set our country back decades, but we are not powerless in this moment. It is incumbent on every one of us to speak out for a government that works for middle-class families and working people—not just billionaires who will never need to call about their Social Security benefits or file a disability claim at VA.”

    SEE BELOW FOR A SELECT, NON-COMPREHENSIVE LIST OF THE IMPACTS OF THESE LAYOFFS:

    VETERANS AFFAIRS: In 2022, Congress passed the largest expansion of veterans’ benefits in two decades, requiring a significant influx of resources and staff to ensure veterans are getting the medical care and benefits they are owed. 

    • The Trump administration’s mass firing of more than 1,000 VA employees just yesterday will badly undercut VA’s ability to process the significant uptick in claims and benefits the agency has seen since the PACT Act was signed into law. The Trump administration has not explicitly exempted doctors, nurses, medical researchers, or disability claims raters from the layoffs. 
    • These layoffs likely mean longer wait times for veterans trying to receive medical care, and they could mean that ongoing clinical trials may be forced to come to an abrupt halt. They likely also mean veterans will wait longer for their disability claims to be processed and approved, and that training for new claims raters that VA has invested in over the last year would go to waste.  
    • There is already a shortage of VA doctors and nurses across the country–in red and blue states. The hiring freeze prohibits new disability claims raters from coming on board, and with the firing of recently hired raters, the backlog of unprocessed claims will grow above 254,000. 

    SMALL BUSINESS ADMINISTRATION (SBA): The SBA provides essential resources and support to small businesses and entrepreneurs across the country. This week, the Trump administration reportedly moved to fire 720 employees, including those recently hired to help small businesses and homeowners recover from devastating disasters. Communities and main streets across the country–from North Carolina to California–are still reeling from the impacts of hurricanes and wildfires; laying off SBA employees will curtail the SBA’s efforts to help small businesses on the ground recover. 

    OFFICE OF PERSONNEL MANAGEMENT (OPM): OPM serves as the chief human resources and personnel policy manager for the federal government and processes retirements for all federal workers, including those in the postal service. OPM employees help ensure federal employees in every part of the country receive their paychecks and retirement benefits. Without adequate staffing levels, federal workers will experience disruptions in essential services OPM provides. 

    • On February 13, OPM fired 250 probationary employees. Management was not notified that the agency would be firing people that day and probationary employees were given 30 minutes to leave the building. There were no exceptions given for high-performing employees or those that managers had prioritized on requested forms. 

    GENERAL SERVICES ADMINISTRATION (GSA): GSA oversees most government contracts, manages federal property, and oversees basic federal government functions. Housed at GSA, Technology Transformation Services is responsible for FedRAMP, which sets cybersecurity standards for federal contractors, and Login.gov, which the American public uses to access their Social Security statements online. GSA was one of the earliest DOGE targets. 

    • An estimated 100 tech workers at GSA have been laid off this week alone. These employees assist with important federal initiatives, including the Direct File program, which is finally helping Americans file their taxes directly with the IRS–for free.  

    HOUSING AND URBAN DEVELOPMENT: The nationwide housing shortage is one area in which both sides of the aisle agree needs urgent solutions, and HUD plays a critical role in working to tackle the crisis. Without sufficient staff to keep things moving at HUD, hundreds of projects across the country are going to be delayed. Many projects will fall apart completely, exacerbating the housing crisis. Even one month of delays on a multimillion-dollar project can cost builders immensely. In just a few weeks of hasty decisions, the Trump administration has proposed drastic cuts that will hurt some of the most vulnerable people and families across the country, undercut economic development, and stunt disaster recovery.

    • Even under current staffing levels, grantees struggle to receive adequate and timely customer service and processing from HUD, and these actions will make it devastatingly worse.
    • Based on current estimates, Trump’s personnel actions to date will result in about a 13% reduction in HUD’s entire workforce.
    • This figure could grow to 50% percent based on reported plans for additional staff cuts across HUD’s programs. One component was directed to reduce staff by 84%, and that office oversees the community and economic development, long-term disaster, and homeless assistance funding that cities around the country, in red and blue states, rely on.  

    DEPARTMENT OF ENERGY: The Department of Energy is responsible for overseeing U.S. energy policy and production, our nuclear weapons program, and national nuclear policy. Among other things, Department of Energy staff plays an essential role in turbocharging American innovation, creating new good-paying jobs, lowering families’ energy bills, strengthening America’s energy security, and maintaining our nation’s nuclear weapons stockpile.

    • The Department of Energy has now laid off 1,800 employees out of 15,850 employees, which is roughly 11% of its workforce. The layoffs have occurred Department-wide; however, the climate and infrastructure deployment offices have been hit hardest, including the Office of Clean Energy Demonstrations, Energy Efficiency and Renewable Energy, and the Manufacturing and Grid Deployment Offices. These layoffs will seriously hamper the implementation of the Bipartisan Infrastructure Law and Inflation Reduction Act, which have created hundreds of thousands of new jobs–compounding the incredible damage that this administration has already caused with its illegal freeze of funding provided by the two landmark laws. The layoffs include staff responsible for ensuring that funding to lower households’ energy costs gets out the door.
    • In Washington state alone, more than a dozen employees at the Hanford Site and more than 600 at the Bonneville Power Administration have been laid off–which will have cascading ripple effects on the cleanup efforts at the Hanford site and the security of the Pacific Northwest energy grid. Notably, these numbers do not include employees who opted into the “deferred resignation” program.

    INDIAN HEALTH SERVICE: The Indian Health Service provides direct health care to 2.8 million American Indians and Alaska Natives, but has, for years, been plagued with chronic staffing challenges and consistently high vacancy rates (upwards of 29%) across all service areas. The staffing shortage has, for decades, undercut the quality of care to Tribal communities across the country. Congress has consistently identified recruitment and retention as a high priority for the agency and has worked on a bipartisan basis to fully fund staffing at IHS facilities and to increase hiring incentives to provide relief.

    • The Trump administration’s mass firing of more than an estimated 850 employees includes doctors, nurses, dentists, pharmacists, and lab technicians–and will devastate the Indian Health Service’s ability to provide services for patients and make an already dire situation worse. These indiscriminate cuts to IHS’ health care workforce will leave thousands without access to critical care and could cost lives.
    • American Indians and Alaska Natives have a life expectancy rate of 11 years less than the national average of 65.2 years old. That’s the same life expectancy rate as the overall population of the United States in 1944.

    DEPARTMENT OF THE INTERIOR: The Interior Department is responsible for the management of public lands, waters, and natural resources, including both conservation and development on federal lands under the National Park Service, Fish and Wildlife Service, and Bureau of Land Management, as well as administering programs affecting Native Americans. The Department is reportedly laying off 2,300 employees.

    • These layoffs will lead to a damaging loss of full-time staff at the National Park Service, which is already operating well below prior staffing levels despite significant increases in visitation. As a result of onerous budget caps during the 2010s, the National Park Service lost 15% of its staff while park visitation also increased by 15%. National Park units experience a summer surge in visitation that peaks in July, and the Service hires more than 6,000 seasonal employees to manage that extra work. Without full-time or seasonal staff during this peak season, visitor centers may close, bathrooms will not be properly maintained, campgrounds may close, guided tours will be cut back or altogether canceled, emergency response times will drop, and visitor services like safety advice, trail recommendations, and interpretation will be unavailable.
    • These indiscriminate cuts are also likely to jeopardize the President’s own “America-First” energy agenda, delaying the processing, planning, permitting, environmental compliance, and approval of new and expanded transmission lines, renewable energy projects, oil and gas leasing and drilling, critical minerals mines, coal mining, and other development on federal lands or waters.

    Federal Bureau of Investigation: The FBI is the domestic intelligence and security service of the United States and its principal federal law enforcement agency. The Bureau is reportedly amassing a list of thousands of probationary employees, including special agents, for possible layoffs–which comes at a time of incredible uncertainty at the FBI. The FBI already faces a salaries and expenses resources shortfall, because of the Fiscal Responsibility Act’s tight constraints, which has already resulted in roughly 1,000 fewer staff. A purge—possibly in the thousands—of FBI employees will worsen an already bad situation–seriously undermining the FBI’s ability to combat terrorism, violent crime, cybercrime, drugs and gangs, transnational organized crime, and child and sex trafficking exploitation. 

    • The FBI has over 2,800 probationary employees, nearly 600 of which are special agents. 
    • The first year cost alone of recruiting, hiring, and training a new FBI special agent is nearly $250,000. Firing hundreds of new agents would be a colossal waste of American taxpayers’ dollars. 

    FOREST SERVICE: The Forest Service is responsible for managing 193 million acres of national forests and grasslands and is reportedly laying off 2,400 employees. While some exemptions are expected for law enforcement and firefighters, many of those being let go are qualified to help respond to wildfires and are a vital resource during the height of fire season. Other recent hires were brought on to accelerate hazardous fuels reduction and community wildfire defense projects to decrease the risk of catastrophic wildfires to communities across the country.

    ENVIRONMENTAL PROTECTION AGENCY: Approximately 1,700 EPA staff have so far been notified they could be terminated. As of December 2024, EPA had 15,572 total full-time employees on staff, which include scientists, toxicologists, biologists, staff overseeing cleanups at Superfund sites in red and blue states, and many more. Indiscriminate layoffs will seriously jeopardize energy projects that have created good jobs, efforts to keep American families’ water supply clean and safe, waste site cleanup efforts, and much more.

    DEPARTMENT OF HEALTH AND HUMAN SERVICES: HHS’ civil service and nonpartisan leadership consists of scientists, researchers, medical professionals, child welfare specialists, and other dedicated public servants. Its nonpartisan leadership is tasked with implementing laws spanning HHS’ far-reaching responsibilities and accordingly is retained to continue building on advances made in medicine, public health, and social services. HHS’ nonpartisan career leadership does not routinely turn over between administrations.

    • Nonetheless, Secretary Kennedy, now having been confirmed, is expected to seek the unprecedented resignation of HHS nonpartisan career leadership and has already begun firing thousands of probationary employees across HHS. 
    • Injecting politics deep into HHS will undermine everything from biomedical research to public health to substance use treatment to child welfare. This is how now-Secretary Kennedy will substitute his own beliefs for established scientific consensus. 
    • Additionally: firing thousands of staff across the Department will have far-reaching impacts on basic government services, potentially including the administration of Medicare. Firings so far have included nurses, pharmacists, patient care technicians, and other staff critical for patient care at NIH’s clinical center, as well as hundreds of early career scientists and researchers.

    DEPARTMENT OF EDUCATION: So far, Department of Education employees have already been put on administrative leave simply because they took a training encouraged by the first Trump administration. Other employees fired or expected to be fired at the Department of Education will put cybersecurity efforts, ongoing work on the FAFSA, and maintenance of student aid processing systems in serious jeopardy. 

    AGRICULTURAL RESEARCH SERVICE: ARS is the USDA’s principal in-house research agency that seeks to develop and transfer solutions to agricultural problems of high national priority. This includes research related to ensuring high-quality, safe food, assessing the nutritional needs of Americans, and sustaining a competitive U.S. agricultural economy.

    • The blanket firing of hundreds of scientists and technicians across the country who were in probationary periods will undercut new, ongoing, and urgent research projects studying livestock and crop production, food safety, environmental stewardship, human nutrition, and value-added agriculture. 

    ANIMAL AND PLANT HEALTH INSPECTION SERVICE: Scores of employees from the Animal and Plant Health Inspection Service (APHIS) were abruptly fired regardless of performance status. APHIS protects our country against the emergence of deadly animal and zoonotic diseases and prevents the introduction of destructive invasive pests. This work is vital to ensuring our farmers and ranchers can safely feed the world. As avian influenza rages across poultry and dairy farms and continues to infect people, the last thing our country needs is a shortage of staff focused on addressing this threat.  

    RURAL DEVELOPMENT: Hundreds of employees working to help rural communities across the country were laid off overnight. Rural Development provides financial assistance for communities to have safe drinking water, affordable housing, high-speed internet, and access to health and safety services. Without adequate staffing, loans and grants will not be processed, and these communities will not have the resources they need to thrive.

    NATURAL RESOURCES CONSERVATION SERVICE: Hundreds of employees working to assist producers with access to voluntary conservation programs and practices were laid off. Those employees are based in offices across the country and provide technical assistance to help improve soil quality, reduce the energy used on farms, and provide other climate mitigation benefits. 

    NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION: NOAA is the nation’s leading scientific and regulatory agency charged with forecasting weather, monitoring oceanic and atmospheric conditions, and managing marine and coastal resources. Americans rely on the National Weather Service’s data forecasts daily but the critical nature of the mission to life and property comes to light during hurricanes, drought, wildfires, tornados, and other extreme weather events. The National Weather Service already struggles with staffing shortages but has made a concerted effort to increase the number of meteorologists. As such, many meteorologists have only been in the role for less than a year and are within their probationary period. 

    • Reports that NOAA will be required to lay off more than a thousand probationary employees, including meteorologists, which amount to 10% of NOAA’s workforce would result in disruptions to weather forecasts. 
    • Similar impacts could be felt to the sustainable management of the nation’s fisheries since NOAA relies on wage mariners to staff the fisheries’ survey vessels that perform stock assessments that feed into accurate sustainable catch limits on which the fishing industry relies.

    MIL OSI USA News

  • MIL-OSI Security: Final two defendants of 76 indicted in Operation Ghost Busted sentenced to federal prison

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    Brunswick, GA:  The last of 76 defendants in a major south Georgia drug trafficking operation have been sentenced to federal prison, wrapping up an investigation into a gang-coordinated conspiracy that operated inside and outside Georgia prisons.

    David D. Young, a/k/k “Khaos,” 44, of Hortense, Georgia, was sentenced to 235 months in prison after pleading guilty to Conspiracy to Possess with Intent to Distribute, and to Distribute, Methamphetamine, said Tara M. Lyons, Acting U.S. Attorney for the Southern District of Georgia. A co-defendant, Blake K. Screen, 36, of Brunswick, was sentenced to 100 months in prison just five months after his conviction at trial on charges of Conspiracy to Possess with Intent to Distribute and to Distribute Methamphetamine and Fentanyl, and Possession with Intent to Distribute Fentanyl. U.S. District Court Judge Lisa Godbey Wood also ordered each of the defendants to serve three years of supervised release upon completion of their prison terms.

    There is no parole in the federal system.

    “Altogether as adults, the 76 defendants in Operation Ghost Busted have been convicted of more than 250 felonies – and more egregiously, this investigation linked their drug trafficking operation to multiple deaths from dozens of overdoses,” said Acting U.S. Attorney Lyons. “Our community is demonstrably safer with these drug distributors off the streets, and we applaud our law enforcement partners for the outstanding investigative work to put these defendants behind bars and bring this case to a successful conclusion.”

    Young and Screen were among the 76 defendants indicted in December 2022 in USA v. Alvarez et al., dubbed Operation Ghost Busted. For more than two years, investigators from the FBI Coastal Georgia Violent Gang Task Force, the Glynn County Police Department, the Brunswick Police Department, the Glynn County Sheriff’s Office, and the Camden County Sheriff’s Office collaborated with multiple federal, state, and local agencies to identify the sprawling drug trafficking network. Operating inside and outside Georgia prisons, the conspiracy was coordinated by members of the Ghost Face Gangsters working with affiliates of other criminal street gangs including the Aryan Brotherhood, Bloods, and Gangster Disciples.

    Both Young and Screen served as dealers and sources of supply to the operation. After the December 2022 indictment and subsequent sweep to bring the defendants into custody, Young was a fugitive for more than a year until he was identified through his extensive Ghost Face Gangsters facial tattoos and taken into custody in March 2024 in Hermosillo, Sonora, Mexico, after being featured on “America’s Most Wanted.”

    In addition to long histories of arrests and felony convictions, all of the defendants in Operation Ghost Busted have a history of illegal drug use, including several who survived repeat overdoses. Fifty of the defendants are high school dropouts.

    Believed to be the largest drug trafficking prosecution in the history of the Southern District of Georgia, Operation Ghost Busted was investigated under the Organized Crime Drug Enforcement Task Forces (OCDETF). OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach.

    Agencies involved in the investigation include the FBI Coastal Georgia Violent Gang Task Force; the Bureau of Alcohol, Tobacco, Firearms and Explosives; the U.S. Marshals Service; the Georgia Bureau of Investigation; the Georgia Department of Corrections; the Georgia Department of Community Supervision; the Glynn County Police Department; the Brunswick Police Department; the Glynn County Sheriff’s Office; and sheriff’s offices from Pierce, Camden, Wayne, Treutlen, McIntosh, Toombs, Telfair, Dodge, and Ware counties. The case was prosecuted for the United States by Southern District of Georgia Assistant U.S. Attorneys Jennifer J. Kirkland and Criminal Division Deputy Chief E. Greg Gilluly Jr. 

    MIL Security OSI

  • MIL-OSI Security: Jury convicts wife of murdering husband on military installation

    Source: Office of United States Attorneys

    TOPEKA, KAN. – A federal jury convicted a Kansas woman of murdering her husband who was a U.S. Army soldier assigned to Fort Riley, a federal military installation in Kansas. 

    According to court documents and evidence presented at trial, Margaret E. Shafe, 31, was found guilty of murder in the second degree for shooting and killing her husband Greg Shafe in February 2024 at their home on Fort Riley.

    Shafe faces a maximum penalty of life in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    The Federal Bureau of Investigation (FBI), the U.S. Department of Army Criminal Investigation Division, and Fort Riley Fire and Emergency Services are investigating the case.

    Assistant U.S. Attorneys Sara Walton and Lindsey Debenham and Special Assistant U.S. Attorney Robin Graham are prosecuting the case.

    ###
     

    MIL Security OSI

  • MIL-OSI: $TOCKHOLDER ALERT: The M&A Class Action Firm Continues To Investigate The Merger – EVGR, QTRX, RKDA, EBTC

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 14, 2025 (GLOBE NEWSWIRE) —

    Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

    • Evergreen Corporation (Nasdaq: EVGR), relating to its proposed merger with Forekast Limited. Under the terms of the agreement, Forekast shares will automatically be converted into the right to receive a number of Evergreen shares.

    Click here for more information https://monteverdelaw.com/case/evergreen-corporation/. It is free and there is no cost or obligation to you.

    • Quanterix Corporation (Nasdaq: QTRX), relating to the proposed merger with Akoya Biosciences. Under the terms of the agreement, Akoya shareholders will receive 0.318 shares of Quanterix common stock for each share of Akoya common stock owned. Quanterix shareholders will own approximately 70% of the combined company.

    Click here for more https://monteverdelaw.com/case/quanterix-corporation-qtrx/. It is free and there is no cost or obligation to you.

    • Arcadia Biosciences, Inc. (Nasdaq: RKDA), relating to the proposed merger with Roosevelt Resources LP. Under the terms of the agreement, Roosevelt and Arcadia shareholders are expected to own approximately 90% and 10%, respectively, of the outstanding shares of Arcadia.

    Click here for more https://monteverdelaw.com/case/arcadia-biosciences-inc-rkda/. It is free and there is no cost or obligation to you.

    • Enterprise Bancorp, Inc. (Nasdaq: EBTC), relating to the proposed merger with Independent Bank Corp. Under the terms of the agreement, shareholders of Enterprise will receive 0.60 shares of Independent, and $2.00 in cash, per share held.

    ACT NOW. The Shareholder Vote is scheduled for April 3, 2025.

    Click here for more https://monteverdelaw.com/case/enterprise-bancorp-inc-ebtc/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network

  • MIL-OSI: Bogota Financial Corp. Reports Results for the Three and Twelve Months Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    TEANECK, N.J., Feb. 14, 2025 (GLOBE NEWSWIRE) — Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company for Bogota Savings Bank (the “Bank”), reported a net loss for the three months ended December 31, 2024 of $930,000 or $0.07 per basic and diluted share, compared to a net loss of $1.2 million or $0.09 per basic and diluted share for the comparable prior year period. The Company reported a net loss for the year ended December 31, 2024 of $2.2 million or $0.17 per basic and diluted share compared to net income of $643,000, or $0.05 per basic and diluted share, for the prior year. 

    On April 24, 2024, the Company announced it had received regulatory approval to repurchase up to 237,090 shares of its common stock, which was approximately 5% of its then outstanding common stock (excluding shares held by Bogota Financial, MHC). The program does not have a scheduled expiration date and the Board of Directors may suspend or discontinue the program at any time. As of December 31, 2024, 188,047 shares have been repurchased under this program at a cost of $1.4 million.

    Other Financial Highlights:

    • Total assets increased $32.2 million, or 3.4%, to $971.5 million at December 31, 2024 from $939.3 million at December 31, 2023, largely due to an increase in cash and cash equivalents and other assets, offset by a decrease in net loans and premises and equipment.
    • Cash and cash equivalents increased $27.3 million, or 109.5%, to $52.2 million at December 31, 2024 from $24.9 million at December 31, 2023, as increases in deposits and borrowings and loan and security maturities outpaced loan growth.
    • Securities decreased $1.2 million, or 0.9%, to $140.3 million at December 31, 2024 from $141.5 million at December 31, 2023.
    • Net loans decreased $3.0 million, or 0.4%, to $711.7 million at December 31, 2024 from $714.7 million at December 31, 2023 due to decreases in residential and construction loans, offset by an increase in commercial real estate loans.
    • Total deposits at December 31, 2024 were $642.2 million, increasing $16.9 million, or 2.7%, as compared to $625.3 million at December 31, 2023, primarily due to a $14.7 million increase in interest-bearing deposits and by a $2.1 million increase in non-interest bearing checking accounts. The average rate paid on deposits increased 31 basis points to 3.73% for 2024 from 3.42% for 2023 due to higher interest rates and an increase in NOW accounts, which increased $14.1 million, or 34.0%, to $55.4 million at December 31, 2024 from $41.3 million at December 31, 2023. The yield on such accounts also increased 63 basis points to 2.53% for 2024 from 1.90% for 2023.
    • Federal Home Loan Bank advances increased $4.5 million, or 2.7% to $172.2 million at December 31, 2024 from $167.7 million as of December 31, 2023.

    The Bank completed a balance sheet restructuring consisting of two key transactions in the fourth quarter of 2024. The Bank entered into a sale-leaseback transaction whereby the Bank sold three of its branch offices resulting in a $9.0 million pre-tax gain. Subsequently, the Bank realized a pre-tax loss of $8.9 million on the sale of approximately $66.0 million in amortized cost ($57.1 million in market value) of securities with a weighted average life of approximately 5.5 years and a weighted average yield of 1.89%. The Bank reinvested $32.7 million of these proceeds into securities with a weighted average life of approximately 29.6 years and a weighted average yield of 5.60%. As of December 31, 2024 all securities were classified as available for sale and marked to market.

    Kevin Pace, President and Chief Executive Officer, said, “We were able to accomplish a key piece of our strategic plan this quarter. The sale-leaseback transaction gave us the ability to dispose of underperforming legacy investments without deteriorating regulatory capital. We were able to utilize this strategy to strengthen our balance sheet and improve future earnings. Reinvesting those funds in securities and loans at current market rates, as well as paying down higher cost borrowings, will provide both short- and long-term benefits. 

    “Uncertainty around rates continues to be a necessary consideration when planning for growth. The repositioning will help with this process while improving our net interest margin. We were able to achieve modest asset and deposit growth for the year while remaining focused on prudent lending practices. The high cost of funds, in particular in our competitive market, continued to pressure earnings. As we continue with our current stock buyback program, we remain committed to adding shareholder value.”

    Income Statement Analysis

    Comparison of Operating Results for the Three Months Ended December 31, 2024 and December 31, 2023

    Net income increased by $248,000, or 21.0%, to a net loss of $930,000 for the three months ended December 31, 2024 from a net loss of $1.2 million for the three months ended December 31, 2023. This increase was primarily due to an increase of $1.0 million in interest income, a $1.3 million decrease in non-interest expense and a decrease of $998,000 in income tax expense, offset by a $1.5 million increase in interest expense.

    Interest income increased $1.0 million, or 10.7%, from $9.6 million for the three months ended December 31, 2023 to $10.6 million for the three months ended December 31, 2024 due to higher yields on interest-earning assets and higher average balances. 

    Interest income on cash and cash equivalents increased $46,000, or 31.7%, to $191,000 for the three months ended December 31, 2024 from $145,000 for the three months ended December 31, 2023 due to a $4.1 million increase in the average balance to $13.5 million for the three months ended December 31, 2024 from $9.4 million for the three months ended December 31, 2023, reflecting the increase of liquidity due to lower loan originations. Due to rate cuts enacted in the third and fourth quarter of the year, the yield on cash and cash equivalents decreased 47 basis points from 6.08% for the three months ended December 31, 2023 to 5.61% for the three months ended December 31, 2024.

    Interest income on loans increased $299,000, or 3.6%, to $8.5 million for the three months ended December 31, 2024 compared to $8.2 million for the three months ended December 31, 2023 due primarily to 16 basis point increase in the average yield from 4.57% for the three months ended December 31, 2023 to 4.73% for the three months ended December 31, 2024 and by a $3.0 million increase in the average balance to $717.4 million for the three months ended December 31, 2024 from $714.4 million for the three months ended December 31, 2023.

    Interest income on securities increased $612,000, or 58.8%, to $1.7 million for the three months ended December 31, 2024 from $1.0 million for the three months ended December 31, 2023 primarily due to a $42.1 million increase in the average balance to $175.3 million for the three months ended December 31, 2024 from $133.2 million for the three months ended December 31, 2023 and due to a 65 basis point increase in the average yield from 3.12% for the three months ended December 31, 2023 to 3.77% for the three months ended December 31, 2024.

    Interest expense increased $1.5 million, or 22.1%, from $6.6 million for the three months ended December 31, 2023 to $8.1 million for the three months ended December 31, 2024 due to higher costs on interest-bearing liabilities and by a $58.9 million increase in the average balance of interest-bearing liabilities from $747.0 million for the three months ended December 31, 2023 to $805.9 million for the three months ended December 31, 2024. During the three months ended December 31, 2024, the use of the cash flow hedges reduced the interest expense by $280,000.

    Interest expense on interest-bearing deposits increased $954,000, or 18.2%, to $6.2 million for the three months ended December 31, 2024 from $5.2 million for the three months ended December 31, 2023. The increase was due to a 61 basis point increase in the average cost of deposits to 4.02% for the three months ended December 31, 2024 from 3.41% for the three months ended December 31, 2023. The increase in the average cost of deposits was due to the higher interest rate environment. The average balances of certificates of deposit increased $4.7 million to $501.8 million for the three months ended December 31, 2024 from $497.1 million for the three months ended December 31, 2023 while NOW and money market accounts and savings accounts decreased $148,000 and $430,000 for the three months ended December 31, 2024, respectively, compared to the three months ended December 31, 2023.

    Interest expense on Federal Home Loan Bank borrowings increased $513,000, or 37.1%, from $1.4 million for the three months ended December 31, 2023 to $1.9 million for the three months ended December 31, 2024. The increase was due to an increase in the average balance of borrowings of $54.8 million to $192.2 million for the three months ended December 31, 2024 from $137.4 million for the three months ended December 31, 2023, which was partially offset by a decrease in the average cost of 7 basis points to 3.92% for the three months ended December 31, 2024 from 3.99% for the three months ended December 31, 2023 as new borrowings in the second half of the year were at slightly lower rates. At December 31, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. 

    Net interest income decreased $439,000, or 14.9%, to $2.5 million for the three months ended December 31, 2024 from $2.9 million for the three months ended December 31, 2023. The decrease reflected a 27 basis point decrease in our net interest rate spread to 0.61% for the three months ended December 31, 2024 from 0.88% for the three months ended December 31, 2023. Our net interest margin decreased 26 basis points to 1.09% for the three months ended December 31, 2024 from 1.35% for the three months ended December 31, 2023.

    We recorded a $218,000 recovery for credit losses for the three months ended December 31, 2024 compared to a no provision for credit losses for the three-month period ended December 31, 2023. The recovery in the fourth quarter of 2024 reflects the decrease in the loan and securities portfolio. 

    Non-interest income increased by $136,000, or 48.2%, to $419,000 for the three months ended December 31, 2024 from $283,000 for the three months ended December 31, 2023. Bank-owned life insurance income increased $16,000, or 7.7%, due to higher balances during 2024. Gain on sale of assets was $74,000 as proceeds from the sale-leaseback transaction exceeded the loss on securities.

    For the three months ended December 31, 2024, non-interest expense decreased $1.3 million, or 26.9%, over the comparable December 31, 2023 period. Salaries and employee benefits decreased $776,000, or 25.2%, due to lower headcount. Professional fees decreased $141,000, or 56.9% due to lower legal costs in 2024. FDIC insurance premiums increased $12,000, or 12.1%, due to a higher assessment rate in 2024. Data processing expense increased $23,000, or 9.3%, due to higher processing costs. Director fees increased $14,000, or 9.9%, due to higher pension expense. The decrease in advertising expense of $35,000, or 36.4%, was due to reduced promotions for branch locations and less promotions on deposit and loan products. Other expense decreased $456,000, or 68.2%, as 2023 expenses were elevated due to a pending fraud claim that was under review with the insurance company.

    Income tax expense increased $998,000, or 182.1%, to an expense of $450,000 for the three months ended December 31, 2024 from a benefit of $548,000 for the three months ended December 31, 2023. The increase was due to tax reserves on uncertain deferred tax assets.

    Comparison of Operating Results for the Twelve Months Ended December 31, 2024 and December 31, 2023

    Net income decreased by $2.8 million, or 437.8%, to a net loss of $2.2 million for the twelve months ended December 31, 2024 from net income of $643,000 for the twelve months ended December 31, 2023. This decrease was primarily due to a decrease of $4.4 million in net interest income, offset by a decrease of $1.2 million in non-interest expense and by an increase of $209,000 in non-interest income and $209,000 in income tax benefit.

    Interest income increased $4.4 million, or 12.0%, from $37.3 million for the twelve months ended December 31, 2023 to $41.7 million for the twelve months ended December 31, 2024 due to increases in the average balances of and higher yields on interest-earning assets.

    Interest income on cash and cash equivalents increased $38,000, or 6.7%, to $606,000 for the twelve months ended December 31, 2024 from $568,000 for the twelve months ended December 31, 2023 due to a 71 basis point increase in the average yield from 5.23% for the twelve months ended December 31, 2023 to 5.94% for the twelve months ended December 31, 2024 due to the higher interest rate environment for most of 2024. This was offset by a $671,000 decrease in the average balance to $10.2 million for the twelve months ended December 31, 2024 from $10.9 million for the twelve months ended December 31, 2023, reflecting the use of excess liquidity primarily to fund securities purchases.

    Interest income on loans increased $1.4 million, or 4.3%, to $33.4 million for the twelve months ended December 31, 2024 compared to $32.0 million for the twelve months ended December 31, 2023 due primarily to a 20 basis point increase in the average yield from 4.49% for the twelve months ended December 31, 2023 to 4.69% for the twelve months ended December 31, 2024. The increase was offset by a $661,000 decrease in the average balance to $713.1 million for the twelve months ended December 31, 2024 from $713.8 million for the twelve months ended December 31, 2023.

    Interest income on securities increased $2.7 million, or 66.7%, to $6.9 million for the twelve months ended December 31, 2024 from $4.2 million for the twelve months ended December 31, 2023 due to a 101 basis point increase in the average yield from 2.87% for the twelve months ended December 31, 2023 to 3.88% for the twelve months ended December 31, 2024 and by a $33.8 million increase in the average balance of securities to $178.7 million for the twelve months ended December 31, 2024 from $144.9 million for the twelve months ended December 31, 2023.

    Interest expense increased $8.9 million, or 39.9%, from $22.3 million for the twelve months ended December 31, 2023 to $31.2 million for the twelve months ended December 31, 2024 due to increases in the average balance of and higher costs on interest-bearing liabilities. During the twelve months ended December 31, 2024, the use of the cash flow hedges reduced the interest expense on the Federal Home Loan Bank advances by $1.5 million.

    Interest expense on interest-bearing deposits increased $6.6 million, or 36.4%, to $24.6 million for the twelve months ended December 31, 2024 from $18.0 million for the twelve months ended December 31, 2023. The increase was due to a 112 basis point increase in the average cost of interest-bearing deposits to 3.97% for the twelve months ended December 31, 2024 from 2.85% for the twelve months ended December 31, 2023, offset by a $12.3 million decrease in the average balance of interest-bearing deposits. The increase in the average cost of deposits was due to the higher interest rate environment and a change in the composition of the deposit portfolio. The average balances of certificates of deposit increased $10.2 million to $508.3 million for the twelve months ended December 31, 2024 from $498.1 million for the twelve months ended December 31, 2023 while NOW and money market accounts and savings accounts decreased $18.1 million and $4.4 million for the twelve months ended December 31, 2024, respectively, compared to the twelve months ended December 31, 2023.

    Interest expense on Federal Home Loan Bank borrowings increased $2.3 million, or 54.4%, from $4.3 million for the twelve months ended December 31, 2023 to $6.6 million for the twelve months ended December 31, 2024. The increase was due to an increase in the average balance of borrowings of $59.2 million to $176.0 million for the twelve months ended December 31, 2024 from $116.8 million for the twelve months ended December 31, 2023. The increase was due to an increase in the average cost of 9 basis points to 3.76% for the twelve months ended December 31, 2024 from 3.67% for the twelve months ended December 31, 2023 due to the new borrowings at higher rates. At December 31, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. 

    Net interest income decreased $4.4 million, or 29.5%, to $10.6 million for the twelve months ended December 31, 2024 from $15.0 million for the twelve months ended December 31, 2023. The decrease reflected a 62 basis point decrease in our net interest rate spread to 0.66% for the twelve months ended December 31, 2024 from 1.28% for the twelve months ended December 31, 2023. Our net interest margin decreased 55 basis points to 1.16% for the twelve months ended December 31, 2024 from 1.71% for the twelve months ended December 31, 2023.

    We recorded a $148,000 recovery of credit losses for the twelve months ended December 31, 2024 compared to a $125,000 recovery for credit losses for the twelve-month period ended December 31, 2023 which reflected a decrease in the loan and securities portfolios, as well as no charge-offs during the years. This recovery was inclusive of the effect due to the transfer of certain securities from the held to maturity portfolio to the available for sale portfolio, which resulted in a $108,000 recovery for credit losses.

    Non-interest income increased by $209,000, or 18.4%. Gain on sale of assets increased $74,000 while fee and service charged income increased $22,000 or 10.6%, and income related to bank owned life insurance increased $90,000, or 11.5%, due to higher balances during 2024.

    For the twelve months ended December 31, 2024, non-interest expense decreased $1.2 million, or 7.4%, compared to the twelve months ended December 31, 2023. Salaries and employee benefits decreased $1.1 million, or 10.9%, as 2023 amounts included an accrual of a severance contract for the retirement of the previous President and a higher employee count when compared to 2024. Professional fees increased $129,000 or 19.5%, due to higher legal expense. Data processing increased $234,000, or 24.1%, due to higher processing costs. Other expense decreased $369,000, or 27.8%, as 2023 amounts included charges for a pending fraud claim that is under review with the insurance company.

    Income tax benefit increased $209,000, or 129.1%, to a benefit of $372,000 for the twelve months ended December 31, 2024 from a benefit of $162,000 for the twelve months ended December 31, 2023. The increase in benefit was due to $3.0 million, or 629.2%, of lower taxable income. The effective tax rate for the twelve months ended December 31, 2024 and December 31, 2023 was (14.62%) and (33.76%), respectively. The benefit would have been higher but there were valuation reserves on certain deferred tax assets as of December 31, 2024.

    Balance Sheet Analysis

    Total assets were $971.5 million at December 31, 2024, representing an increase of $32.2 million, or 3.4%, from December 31, 2023. Cash and cash equivalents increased $27.3 million during the period primarily due to loan payments received and growth in deposits and borrowings. Net loans decreased $3.0 million, or 0.4%, due to $63.8 million in repayments, partially offset by new production of $61.2 million. Due to the interest rate environment, we have seen a decrease in demand for residential and construction loans, which have been primary drivers of our loan growth in recent periods. Securities held to maturity were reclassified to securities available for sale which decreased an aggregate $1.2 million or 0.9%, due to the repayments of mortgage-backed securities and maturities of corporate bonds. Right of use assets increased $10.8 million due to new right-of-use lease assets recognized as part of the sale-leaseback transaction.

    Delinquent loans increased $1.7 million to $14.3 million, or 2.01% of total loans, at December 31, 2024. The increase was mostly due to one commercial real estate loan with a balance of $755,000 and two residential mortgages totaling $653,000, all of which are classified as nonaccrual. During the same timeframe, non-performing assets increased to $14.0 million and were 1.44% of total assets at December 31, 2024. The Company’s allowance for credit losses was 0.37% of total loans and 18.77% of non-performing loans at December 31, 2024 compared to 0.39% of total loans and 21.81% of non-performing loans at December 31, 2023. At that date, $10.9 million, or 76.0%, of the total non-performing loans consisted of one construction loan with a loan-to-value of 45%, which required no specific reserve. The Bank does not have any exposure to commercial real estate loans secured by office space.

    Total liabilities increased $32.0 million, or 4.0%, to $834.2 million mainly due to a $16.8 million increase in deposits and by a $4.5 million increase in borrowings. Lease liabilities also increased $10.8 million due to new lease liabilities recognized as part of the sale-leaseback transaction. Total deposits increased $16.9 million, or 2.7%, to $642.2 million at December 31, 2024 from $625.3 million at December 31, 2023. The increase in deposits reflected increases in NOW, money market and savings accounts, which increased by $14.7 million from $101.5 million at December 31, 2023 to $116.2 million at December 31, 2024 and by an increase in non-interest bearing accounts, which increased by $2.1 million to $32.7 million from $30.6 million at December 31, 2023. At December 31, 2024, brokered deposits were $101.6 million or 15.8% of deposits and municipal deposits were $30.7 million or 4.8% of deposits. At December 31, 2024, uninsured deposits represented 6.9% of the Bank’s total deposits. Federal Home Loan Bank advances increased $4.5 million, or 2.7%. Total borrowing capacity at the Federal Home Loan Bank is $280.4 million, of which $172.2 million is advanced.

    Total stockholders’ equity increased $116,000 to $137.3 million, which was largely unchanged from last year. The increase was due to a reduction in the accumulated other comprehensive loss on the securities portfolio of $2.9 million, offset by a net loss of $2.2 million and the repurchase of 221,130 shares of stock at a total cost of $1.7 million. At December 31, 2024, the Company’s ratio of average stockholders’ equity-to-average total assets was 14.10%, compared to 14.89% at December 31, 2023.

    About Bogota Financial Corp.

    Bogota Financial Corp. is a Maryland corporation organized as the mid-tier holding company of Bogota Savings Bank and is the majority-owned subsidiary of Bogota Financial, MHC. Bogota Savings Bank is a New Jersey chartered stock savings bank that has served the banking needs of its customers in northern and central New Jersey since 1893. It operates from seven offices located in Bogota, Hasbrouck Heights, Newark, Oak Ridge, Parsippany, Teaneck and Upper Saddle River, New Jersey and operates a loan production office in Spring Lake, New Jersey.

    Forward-Looking Statements

    This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, potential recessionary conditions, real estate market values in the Bank’s lending area, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio; changes in the quality of our loan and security portfolios, increases in non-performing and classified loans, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the imposition of tariffs or other domestic or international governmental policies, a failure in or breach of the Company’s operational or security systems or infrastructure, including cyberattacks, the failure to maintain current technologies, failure to retain or attract employees and legislative, accounting and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.

    The Company undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

     
    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (unaudited)
     
        As of
    December 31, 2024
        As of
    December 31, 2023
     
    ASSETS                
    Cash and due from banks   $ 18,020,527     $ 13,567,115  
    Interest-bearing deposits in other banks     34,211,681       11,362,356  
    Cash and cash equivalents     52,232,208       24,929,471  
                     
    Securities available for sale     140,307,447       68,888,179  
    Securities held to maturity (fair value of $70,699,651 at December 31, 2023)           72,656,179  
    Loans, net of allowance $2,620,949 and $2,785,949, respectively     711,716,236       714,688,635  
    Premises and equipment, net     4,727,302       7,687,387  
    Federal Home Loan Bank (“FHLB”) stock     8,803,000       8,616,100  
    Accrued interest receivable     4,232,563       3,932,785  
    Core deposit intangibles     152,893       206,116  
    Bank owned life insurance     31,859,604       30,987,851  
    Right of use asset     10,776,596        
    Other assets     6,682,035       6,731,500  
    Total assets   $ 971,489,884     $ 939,324,203  
                     
    LIABILITIES AND STOCKHOLDERS’ EQUITY                
    Liabilities                
    Deposits                
    Non-interest bearing   $ 32,681,963     $ 30,554,842  
    Interest bearing     609,506,079       594,792,300  
          642,188,042       625,347,142  
                     
    FHLB advances-short term     29,500,000       37,500,000  
    FHLB advances-long term     142,673,182       130,189,663  
    Advance payments by borrowers for taxes and insurance     2,809,205       2,733,709  
    Lease liability     10,780,363        
    Other liabilities     6,249,932       6,380,486  
    Total liabilities     834,200,724       802,151,000  
                     
    Stockholders’ Equity                
    Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at December 31, 2024, and 2023            
    Common stock $0.01 par value, 30,000,000 shares authorized, 13,059,175 issued and outstanding at December 31, 2024 and 13,279,230 at December 31, 2023     130,591       132,792  
    Additional Paid-In capital     55,269,962       56,149,915  
    Retained earnings     90,006,649       92,177,068  
    Unearned ESOP shares (382,933 shares at December 31, 2024 and 409,750 shares at December 31, 2023)     (4,520,594 )     (4,821,798 )
    Accumulated other comprehensive loss     (3,597,448 )     (6,464,774 )
    Total stockholders’ equity     137,289,160       137,173,203  
    Total liabilities and stockholders’ equity   $ 971,489,884     $ 939,324,203  
     
    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (unaudited)
     
        Three Months Ended     Year Ended  
        December 31,     December 31,  
        2024     2023     2024     2023  
    Interest income                                
    Loans   $ 8,522,844     $ 8,224,488     $ 33,411,221     $ 32,046,033  
    Securities                                
    Taxable     1,641,126       1,027,755       6,888,462       4,070,144  
    Tax-exempt     11,483       13,135       50,892       91,428  
    Other interest-earning assets     418,634       300,656       1,399,170       1,072,240  
    Total interest income     10,594,087       9,566,034       41,749,745       37,279,845  
    Interest expense                                
    Deposits     6,200,367       5,245,865       24,584,690       18,023,772  
    FHLB advances     1,894,789       1,382,244       6,613,845       4,282,603  
    Total interest expense     8,095,156       6,628,109       31,198,535       22,306,375  
    Net interest income     2,498,931       2,937,925       10,551,210       14,973,470  
    Provision (credit) for credit losses     (218,000 )           (148,000 )     (125,000 )
    Net interest income after provision (credit) for credit losses     2,716,931       2,937,925       10,699,210       15,098,470  
    Non-interest income                                
    Fees and service charges     64,285       47,382       228,685       206,763  
    Gain on sale of loans     20,232             31,942       29,375  
    Gain on sale of properties     9,005,245             9,005,245        
    Loss on sale of securities     (8,930,843 )           (8,930,843 )      
    Bank-owned life insurance     223,616       207,453       871,753       781,526  
    Other     36,202       27,711       141,622       121,371  
    Total non-interest income     418,737       282,546       1,348,404       1,139,035  
    Non-interest expense                                
    Salaries and employee benefits     2,345,404       3,082,176       8,750,350       9,820,128  
    Occupancy and equipment     348,778       359,937       1,467,517       1,474,107  
    FDIC insurance assessment     110,464       98,525       424,090       418,215  
    Data processing     274,889       251,485       1,203,181       969,398  
    Advertising     60,840       95,681       371,790       465,064  
    Director fees     155,699       141,639       622,799       619,650  
    Professional fees     107,129       248,526       789,646       661,045  
    Other     212,632       668,220       960,230       1,329,520  
    Total non-interest expense     3,615,835       4,946,189       14,589,603       15,757,127  
    (Loss) income before income taxes     (480,167 )     (1,725,718 )     (2,541,989 )     480,378  
    Income tax (benefit) expense     449,834       (547,958 )     (371,569 )     (162,157 )
    Net (loss) income   $ (930,001 )   $ (1,177,760 )   $ (2,170,420 )   $ 642,535  
    Earnings (loss) per Share – basic   $ (0.07 )   $ (0.09 )   $ (0.17 )   $ 0.05  
    Earnings (loss) per Share – diluted   $ (0.07 )   $ (0.09 )   $ (0.17 )   $ 0.05  
    Weighted average shares outstanding – basic     12,686,765       12,767,410       12,767,628       12,891,847  
    Weighted average shares outstanding – diluted     12,686,765       12,767,410       12,767,628       12,891,847  
     
    BOGOTA FINANCIAL CORP.
    SELECTED RATIOS
    (unaudited)
     
        At or For the Three Months Ended December 31,     At or For the Twelve Months Ended December 31,  
        2024     2023     2024     2023  
    Performance Ratios (1):                                
    (Loss) return on average assets (2)     (0.09 )%     (0.51 )%     (0.22 )%     0.07 %
    (Loss) return on average equity (3)     (0.68 )%     (3.43 )%     (1.59 )%     0.46 %
    Interest rate spread (4)     0.61 %     0.88 %     0.66 %     1.28 %
    Net interest margin (5)     1.09 %     1.35 %     1.16 %     1.71 %
    Efficiency ratio (6)     123.93 %     153.59 %     122.61 %     97.04 %
    Average interest-earning assets to average interest-bearing liabilities     113.67 %     115.71 %     114.48 %     116.95 %
    Net loans to deposits     110.83 %     114.29 %     110.83 %     114.29 %
    Equity to assets (7)     13.99 %     14.94 %     14.10 %     14.89 %
    Capital Ratios:                                
    Tier 1 capital to average assets                     13.34 %     15.24 %
    Asset Quality Ratios:                                
    Allowance for credit losses as a percent of total loans                     0.37 %     0.39 %
    Allowance for credit losses as a percent of non-performing loans                     18.77 %     21.81 %
    Net charge-offs to average outstanding loans during the period                     0.00 %     0.00 %
    Non-performing loans as a percent of total loans                     1.95 %     1.79 %
    Non-performing assets as a percent of total assets                     1.44 %     1.36 %
    (1 ) Certain performance ratios for the three-month periods are annualized.
    (2 ) Represents net income divided by average total assets.
    (3 ) Represents net income divided by average stockholders’ equity.
    (4 ) Represents the difference between the weighted average yield on average interest-earning assets and the weighted average cost of average interest-bearing liabilities. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5%.
    (5 ) Represents net interest income as a percent of average interest-earning assets. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2024 and 2023.
    (6 ) Represents non-interest expenses divided by the sum of net interest income and non-interest income.
    (7 ) Represents average stockholders’ equity divided by average total assets.
         

    LOANS

    Loans are summarized as follows at December 31, 2024 and December 31, 2023:

        December 31,     December 31,  
        2024     2023  
    Real estate:     (unaudited)          
    Residential First Mortgage   $ 472,747,542     $ 486,052,422  
    Commercial Real Estate     118,008,866       99,830,514  
    Multi-Family Real Estate     74,152,418       75,612,566  
    Construction     43,183,657       49,302,040  
    Commercial and Industrial     6,163,747       6,658,370  
    Consumer     80,955       18,672  
    Total loans     714,337,185       717,474,584  
    Allowance for credit losses     (2,620,949 )     (2,785,949 )
    Net loans   $ 711,716,236     $ 714,688,635  
                     

    The following tables set forth the distribution of total deposit accounts, by account type, at the dates indicated (unaudited).

        At December 31,  
        2024     2023  
        Amount     Percent     Average Rate     Amount     Percent     Average Rate  
        (Dollars in thousands)  
    Noninterest bearing demand accounts   $ 32,681,963       5.09 %     %   $ 30,554,842       4.89 %     %
    NOW accounts     55,048,614       8.62       2.53       41,320,723       6.61       1.90  
    Money market accounts     24,578,021       2.18       0.58       14,641,846       2.34       0.30  
    Savings accounts     47,001,817       7.3       1.90       45,554,964       7.28       1.76  
    Certificates of deposit     482,877,627       76.81       4.37       493,274,767       78.88       4.00  
    Total   $ 642,188,042       100.00 %     3.73 %   $ 625,347,142       100.00 %     3.42 %
                                                     

    Average Balance Sheets and Related Yields and Rates

    The following tables present information regarding average balances of assets and liabilities, the total dollar amounts of interest income and dividends from average interest-earning assets, the total dollar amounts of interest expense on average interest-bearing liabilities, and the resulting annualized average yields and costs. The yields and costs for the periods indicated are derived by dividing income or expense by the average balances of assets or liabilities, respectively, for the periods presented. Average balances have been calculated using daily balances. Nonaccrual loans are included in average balances only. Loan fees are included in interest income on loans and are not material.

        Three Months Ended December 31,  
        2024     2023  
        Average     Interest and     Yield/     Average     Interest and     Yield/  
        Balance     Dividends     Cost (3)     Balance     Dividends     Cost (3)  
        (Dollars in thousands)  
        (unaudited)  
    Assets:                                                
    Cash and cash equivalents   $ 13,547     $ 191       5.61 %   $ 9,433     $ 145       6.08 %
    Loans     717,433       8,523       4.73 %     714,380       8,224       4.57 %
    Securities     175,308       1,653       3.77 %     133,241       1,041       3.12 %
    Other interest-earning assets     9,711       227       9.37 %     7,216       156       8.70 %
    Total interest-earning assets     915,999       10,594       4.61 %     864,270       9,566       4.40 %
    Non-interest-earning assets     63,511                       56,543                  
    Total assets   $ 979,510                     $ 920,813                  
    Liabilities and equity:                                                
    NOW and money market accounts   $ 67,362     $ 366       2.16 %   $ 67,510     $ 310       1.82 %
    Savings accounts     44,425       213       1.91 %     44,855       205       1.81 %
    Certificates of deposit     501,875       5,621       4.46 %     497,147       4,731       3.78 %
    Total interest-bearing deposits     613,662       6,200       4.02 %     609,512       5,246       3.41 %
    Federal Home Loan Bank advances (1)     192,196       1,895       3.92 %     137,445       1,382       3.99 %
    Total interest-bearing liabilities     805,858       8,095       4.00 %     746,957       6,628       3.52 %
    Non-interest-bearing deposits     32,734                       34,835                  
    Other non-interest-bearing liabilities     3,837                       1,454                  
    Total liabilities     842,429                       783,246                  
    Total equity     137,081                       137,567                  
    Total liabilities and equity   $ 979,510                     $ 920,813                  
    Net interest income           $ 2,499                     $ 2,938          
    Interest rate spread (2)                     0.61 %                     0.88 %
    Net interest margin (3)                     1.09 %                     1.35 %
    Average interest-earning assets to average interest-bearing liabilities     113.67 %                     115.71 %                
    1. Cash flow hedges are used to manage interest rate risk. During the three months ended December 31, 2024, the net effect on interest expense on the Federal Home Loan Bank advances was a reduced expense of $280,000.
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
    3. Net interest margin represents net interest income divided by average total interest-earning assets.
       
        Twelve Months Ended December 31,  
        2024     2023  
        Average     Interest and     Yield/     Average     Interest and     Yield/  
        Balance     Dividends     Cost (3)     Balance     Dividends     Cost (3)  
        (Dollars in thousands)  
        (unaudited)  
    Assets:                                                
    Cash and cash equivalents   $ 10,197     $ 606       5.94 %   $ 10,868     $ 568       5.23 %
    Loans     713,138       33,412       4.69 %     713,799       32,046       4.49 %
    Securities     178,684       6,939       3.88 %     144,880       4,162       2.87 %
    Other interest-earning assets     9,106       793       8.71 %     6,389       504       7.89 %
    Total interest-earning assets     911,125       41,750       4.58 %     875,936       37,280       4.26 %
    Non-interest-earning assets     59,511                       54,925                  
    Total assets   $ 970,636                     $ 930,861                  
    Liabilities and equity:                                                
    NOW and money market accounts   $ 67,561     $ 1,359       2.01 %   $ 85,663     $ 1,399       1.63 %
    Savings accounts     43,975       821       1.87 %     48,351       580       1.20 %
    Certificates of deposit     508,327       22,405       4.41 %     498,129       16,045       3.22 %
    Total interest-bearing deposits     619,863       24,585       3.97 %     632,143       18,024       2.85 %
    Federal Home Loan Bank advances (1)     175,997       6,614       3.76 %     116,816       4,283       3.67 %
    Total interest-bearing liabilities     795,860       31,199       3.92 %     748,959       22,307       2.98 %
    Non-interest-bearing deposits     31,572                       38,636                  
    Other non-interest-bearing liabilities     6,303                       4,627                  
    Total liabilities     833,735                       792,222                  
    Total equity     136,901                       138,639                  
    Total liabilities and equity   $ 970,636                     $ 930,861                  
    Net interest income           $ 10,551                     $ 14,973          
    Interest rate spread (2)                     0.66 %                     1.28 %
    Net interest margin (3)                     1.16 %                     1.71 %
    Average interest-earning assets to average interest-bearing liabilities     114.48 %                     116.95 %                
    1. Cash flow hedges are used to manage interest rate risk. During the twelve months ended December 31, 2024, the net effect on interest expense on the Federal Home Loan Bank advances was a reduced expense of $1.5 million.
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
    3. Net interest margin represents net interest income divided by average total interest-earning assets.
       

    Rate/Volume Analysis

    The following table sets forth the effects of changing rates and volumes on net interest income. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate). The net column represents the sum of the prior columns. Changes attributable to changes in both rate and volume that cannot be segregated have been allocated proportionally based on the changes due to rate and the changes due to volume.

        Three Months Ended December 31,     Twelve Months Ended December 31,  
        2024 Compared to Three     2024 Compared to Twelve Months  
        Months Ended December 31, 2023     Ended December 31, 2023  
        Increase (Decrease) Due to     Increase (Decrease) Due to  
        Volume     Rate     Net     Volume     Rate     Net  
        (In thousands)  
        (unaudited)  
    Interest income:                                                
    Cash and cash equivalents   $ 114     $ (68 )   $ 46     $ (37 )   $ 75     $ 38  
    Loans receivable     33       266       299       (30 )     1,396       1,366  
    Securities     369       243       612       1,108       1,669       2,777  
    Other interest earning assets     58       13       71       232       57       289  
    Total interest-earning assets     574       454       1,028       1,273       3,197       4,470  
    Interest expense:                                                
    NOW and money market accounts     (5 )   $ 61     $ 56       (328 )     288       (40 )
    Savings accounts     (12 )     20       8       (57 )     298       241  
    Certificates of deposit     45       845       890       335       6,025       6,360  
    Federal Home Loan Bank advances     676       (163 )     513       2,221       110       2,331  
    Total interest-bearing liabilities     704       763       1,467       2,171       6,721       8,892  
    Net decrease in net interest income   $ (130 )   $ (309 )   $ (439 )   $ (898 )   $ (3,524 )   $ (4,422 )
                                                     

    Contacts
    Kevin Pace – President & CEO, 201-862-0660 ext. 1110

    The MIL Network

  • MIL-OSI Security: Man Once on FBI’s Most Wanted Fugitives List Appears in Court in St. Louis

    Source: Office of United States Attorneys

    ST. LOUIS – Donald Eugene Fields II, who was on the FBI’s Most Wanted list until his arrest on January 26 in Florida, pleaded not guilty Friday to child sex charges in U.S. District Court in St. Louis.

    Fields, now 60, was originally indicted on Dec. 7, 2022. He now faces a child sex trafficking charge and a charge of travel with intent to engage in illicit sexual conduct.

    Fields was arrested during a traffic stop by police in Lady Lake, Florida after officers learned that he was on the Most Wanted list.

    Charges set forth in an indictment are merely accusations and do not constitute proof of guilt.  Every defendant is presumed to be innocent unless and until proven guilty.

    “Donald Fields II will finally answer federal charges thanks to the outstanding work by the Lady Lake Police Department,” said Special Agent in Charge Ashley Johnson of the FBI St. Louis Division. “We applaud the bravery of the alleged victims, who showed up in court today to face the defendant for the first time since he became a federal fugitive more than two years ago. The FBI will continue to provide victim services to support their emotional journey through the legal process.”

    The case was investigated jointly by the Franklin County Sheriff’s Office and the FBI, with assistance from the Missouri State Highway Patrol and the Missouri State Technical Assistance Team. Assistant U.S. Attorney Dianna Edwards is prosecuting the case.

    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 the Department of Justice Criminal Division’s Child Exploitation and Obscenity Section, 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 https://www.justice.gov/psc.

    MIL Security OSI

  • MIL-OSI Security: Members of prolific fentanyl distribution conspiracy sentenced to prison

    Source: Office of United States Attorneys

    ALEXANDRIA, Va. – Three Virginia men have been sentenced to prison for distributing copious quantities of fentanyl.

    According to court documents, from at least July 2023 through April 2024, Xavier Elijah Coltrane, aka X or Slime, 21, of Arlington; Vaughn Meachem, aka Vaughn Lockhart, 34, of Alexandria; and Cameron Harris, 24, of Gainesville, conspired to distribute fentanyl pills. Over a series of five controlled purchases conducted by the FBI, the conspirators sold approximately 65,000 fentanyl pills and a kilogram of cocaine.

    Coltrane was co-owner of Exquisite Luxury Transportation, a car service that Coltrane used to facilitate drug trafficking activity. Coltrane arranged the five drug sales, communicating through Instagram messaging, Telegram, and speaking directly on the phone. In some of the controlled purchases, the purchaser booked a reservation with Exquisite Luxury Transportation and was driven to a delivery location. Once the purchaser arrived at the deal location, Meachem arrived and distributed fentanyl pills. On one occasion, Coltrane distributed the fentanyl pills directly. On another occasion when Coltrane feared the use of cars through Exquisite Luxury Transportation was attracting law enforcement attention, Harris delivered the fentanyl pills in his personal vehicle.

    Coltrane, Meachem, and Harris each pled guilty to conspiracy to distribute 400 grams or more of fentanyl and distribution of 400 grams or more of fentanyl. On Feb. 13, 2025, Coltrane was sentenced to 20 years in prison. On Dec.18, 2024, Harris was sentenced to 13 years in prison. Meachem was sentenced yesterday to 10 years in prison.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia, and Sean Ryan, Special Agent in Charge of the FBI Washington Field Office’s Criminal and Cyber Division, made the announcement after sentencing by U.S. District Judge Rossie D. Alston Jr.

    The Bureau of Alcohol, Tobacco, Firearms and Explosives Washington Field Division, Virginia State Police, and the Prince William County Police Department provided valuable assistance in the investigation of this case.

    This investigation is part of the Washington/Baltimore High Intensity Drug Trafficking (HIDTA) Northern Virginia Gang Initiative, which seeks to identify, disrupt, and dismantle drug trafficking organizations and money laundering organizations; reduce drug-related crime and violence; and identify and respond to emerging drug trends.

    Assistant U.S. Attorneys Philip Alito, Catherine Rosenberg, and Ryan Bredemeier prosecuted the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:24-cr-115.

    MIL Security OSI

  • MIL-OSI Security: Metairie Man Guilty of Distributing Child Sexual Abuse Material

    Source: Office of United States Attorneys

    NEW ORLEANS – Acting U.S. Attorney Michael M. Simpson announced that KEVIN LILLIS (“LILLIS”), age 51, a resident of Metairie, Louisiana, pled guilty today, before United States District Judge Jane Triche Milazzo, to distributing child sexual abuse material (CSAM), in violation of   18, United States Code, Section 2252(a)(2).

    According to court documents, Federal Bureau of Investigation (FBI) agents executed a search warrant at LILLIS’s residence in March 2024.  During the execution of the warrant, agents seized and searched electronic devices belonging to LILLIS.  These devices contained files depicting the sexual victimization of children and obscene visual representations of the sexual abuse of children.  Specifically, the items seized included more than 600 images and 6 videos, 1 of which was almost 12 minutes long, depicting the sexual victimization of children, as well as dozens of other images and videos depicting obscene visual representations.  Among the files LILLIS searched, downloaded, stored, and distributed, were images of newborn infants engaging in sexually explicit conduct, and files portraying violent sadistic or masochistic conduct.  LILLIS distributed the files numerous times between January 2024 and March 11, 2024.  Agents also discovered conversations LILLIS had with other individuals on encrypted messaging applications during 2023-2024, in which LILLIS admitted having hands-on sexual contact with multiple young prepubescent minors over the past two decades.

    LILLIS faces a mandatory minimum of five (5) years in prison up to a  maximum of twenty (20) years imprisonment, as to each of Counts 1, 2, and 3.  LILLIS also faces at least five years, and up to a lifetime, of supervised release and up to a $250,000 fine per count.  Additionally, he faces payment of a $300 mandatory special assessment fee.  LILLIS may also be required to register as a sex offender.  Sentencing before Judge Milazzo has been scheduled for May 14, 2025.

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

    Acting U.S. Attorney Simpson praised the work of the Federal Bureau of Investigation (FBI) in investigating this matter.  Assistant United States Attorney Jordan Ginsberg, Chief of the Public Integrity Unit, is in charge of the prosecution.

    MIL Security OSI

  • MIL-OSI Security: Founder of Miami-Based Cryptocurrency Token CluCoin Sentenced for Wire Fraud

    Source: Office of United States Attorneys

    MIAMI – The founder of CluCoin, a cryptocurrency token project in Miami, was sentenced to 27 months in prison, followed by three years of supervised release and ordered to pay restitution and forfeit assets in the amount of $1.14 million. The sentence comes after the defendant pleaded guilty to wire fraud in August 2024.

    Austin Michael Taylor, 41, of Sykesville, Maryland, was the founder of a cryptocurrency project CluCoin and owner of CLU LLC, a company incorporated and headquartered in Miami-Dade County, Fla., that handled CluCoin’s operations.

    Taylor leveraged his sizable social media following to generate interest in a digital token he called “CLU.” Taylor generated interest in CLU’s initial coin offering (ICO), which is a capital raising event in which an entity offers investors a unique digital token in exchange for a more established cryptocurrency or fiat currency. Taylor created a “white paper” for CluCoin, which was meant to educate and entice investors to participate in the ICO, which promised to have a charitable focus. After raising investor funds, Taylor successfully launched CluCoin’s ICO on May 19, 2021. Taylor then shifted CluCoin’s focus to other projects he devised: the minting of non-fungible tokens (NFTs), the development of a computer game and a metaverse platform.

    Taylor organized and paid for an event called “NFTCon: Into the Metaverse,” which took place in a hotel in Miami on April 4 and 5, 2022, to drive interest and investment in CLU, CluCoin and related projects. Shortly after the conference, in May 2022, Taylor gained the ability to make withdrawals from the cryptocurrency address he controlled into which a portion of the CLU investor funds automatically flowed. From May through December 2022, Taylor sent approximately $1.14 million in investor funds to his personal account at a virtual currency exchange and then used the funds at multiple online casinos, where he lost these investor funds to gambling.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida and Acting Special Agent in Charge Justin E. Fleck of the FBI, Miami Field Office, announced the sentence imposed by U.S. District Judge Jacqueline Becerra.

    FBI Miami and the Washington Field Offices investigated the case. Assistant U.S Attorney Manolo Reboso prosecuted the case. Assistant U.S. Attorney Emily Stone is handling asset forfeiture.

    Identified victims were notified via NFT. If you invested in CLU, believe you are a victim, and/or received an NFT, please visit https://www.fbi.gov/CluCoinInvestors to provide relevant information to the FBI.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number 24-cr-20308.

    ###

    MIL Security OSI

  • MIL-OSI Security: West Virginia Man Sentenced for Bank Robbery 1

    Source: Office of United States Attorneys

    LEXINGTON, Ky. – A West Virginia man, Richard Hudson, 72, was sentenced on Friday, by U.S. District Judge Danny C. Reeves, to 139 months, for bank robbery by intimidation.  

    According to his plea agreement, on February 15, 2024, Hudson robbed the Traditional Bank on Tates Creek Road in Lexington.  Hudson approached a teller, placed a grocery bag and a note on the counter, and demanded that the teller empty the contents of her drawer into the bag.  The teller did so and attempted to hand the bag back to Hudson, who then demanded for her to empty the bottom drawer as well.  The teller did so, and Hudson was able to obtain $14,106 during the robbery.  He fled the scene and was eventually apprehended in Charleston, WV.  Hudson, a career offender, has robbed a series of banks across the Nation since the 1980s.

    Under federal law, Hudson must serve 85 percent of his prison sentence.  Upon his release from prison, Hudson will be under the supervision of the U.S. Probation Office for three years. 

    Paul McCaffrey, Acting United States Attorney for the Eastern District of Kentucky; Michael Stansbury, Special Agent in Charge, FBI, Louisville Field Office; and Chief Lawrence Weathers, Lexington Police Department, jointly announced the sentence.

    The investigation was conducted by the FBI and Lexington Police Department.  Assistant U.S. Attorney James T. Chapman prosecuted the case on behalf of the United States.

    — END —

    MIL Security OSI

  • MIL-OSI USA: Grassley to Trump: Whistleblowers Are Key to Promoting Government Efficiency, Combatting Waste

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    In letter to president, Grassley seeks Rose Garden ceremony honoring whistleblowers

    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) is calling on President Donald Trump to empower and celebrate whistleblowers who pay a patriotic service to the country by helping eliminate government waste, fraud and abuse. In a letter to President Trump, Grassley requested the president hold a White House Rose Garden ceremony to honor whistleblowers and send a clear message that government misconduct and retaliation will not be tolerated.

    “Whistleblowers have exposed waste, fraud and abuse in just about every industry and agency in this country. The issues they report have saved billions of taxpayer dollars and countless more through their deterrent effect,” Grassley wrote. “The President of the United States honoring whistleblowers with a Rose Garden ceremony on Whistleblower Appreciation Day for their courage and sacrifice would send a loud, clear message that our government leaders appreciate the importance of whistleblowers and retaliation will not be tolerated. It would inspire confidence in those who witness wrongdoing to stand up and do something to fix it.”

    Grassley additionally noted that many whistleblowers risk their careers, reputation and even health to come forward with information.

    “For example, the brave Internal Revenue Service (IRS) whistleblowers who made legally protected disclosures about misconduct in the handling of the Hunter Biden investigation have faced retaliation by the IRS and several attempts to discredit their reputations and ruin their careers.  Many Justice Department and FBI whistleblowers have done the same, putting it all on the line to expose political bias, and the thanks they get is government retaliation,” Grassley continued.

    Grassley has called on every president since Ronald Reagan to hold a Rose Garden ceremony honoring whistleblowers which would encourage others to come forward who may be aware of government mismanagement.

    A fierce whistleblower advocate, Grassley is the author of numerous laws to empower whistleblowers and shield them from retaliation for speaking the truth. He is also the co-founder and co-chairman of the Senate Whistleblower Protection Caucus, which shares best practices with Senate offices, advocates and government stakeholders on how to protect and effectively interact with whistleblowers. During a Judiciary Committee executive business meeting yesterday, Grassley read several first-hand accounts from FBI whistleblowers detailing the abuse they’ve suffered at the hands of former and current FBI officials, and urged President Trump to reinstate those who’ve been retaliated against.

    Text of Grassley’s letter to President Trump follows:

    February 14, 2025

    VIA ELECTRONIC TRANSMISSION

    The Honorable Donald J. Trump

    President of the United States

    The White House

    1600 Pennsylvania Ave

    Washington D.C. 20500

    Dear President Trump:

    You have said your administration is dedicated to eliminating waste and ensuring the government works efficiently and effectively for the American people.  Whistleblowers play an integral role in accomplishing this mission and have been doing so since our nation’s founding.

    Whistleblowers are patriots who help identify violations of law, rule, regulation, gross mismanagement, abuses of authority, and threats to public health and safety.  In many circumstances, they do so at risk to their careers, reputation, and even health.  For example, the brave Internal Revenue Service (IRS) whistleblowers who made legally protected disclosures about misconduct in the handling of the Hunter Biden investigation have faced retaliation by the IRS and several attempts to discredit their reputations and ruin their careers.  Many Justice Department and FBI whistleblowers have done the same, putting it all on the line to expose political bias, and the thanks they get is government retaliation. 

    Whistleblowers have exposed waste, fraud, and abuse in just about every industry and agency in this country. The issues they report have saved billions of taxpayer dollars and countless more through their deterrent effect.  In addition to the money they have saved the taxpayers, whistleblowers help the government work better for the American people by exposing wrongdoing and misconduct, to include government weaponization. 

    The President of the United States honoring whistleblowers with a Rose Garden ceremony on Whistleblower Appreciation Day for their courage and sacrifice would send a loud, clear message that our government leaders appreciate the importance of whistleblowers and retaliation will not be tolerated.  It would inspire confidence in those who witness wrongdoing to stand up and do something to fix it.  It would help build a culture of integrity where employees are not afraid to raise legitimate concerns because they know retaliators will be punished, not the whistleblower. 

    I have asked every president since President Ronald Reagan to hold a Rose Garden ceremony to honor whistleblowers.  No president has done so.  I hope you will be the first to set this historic precedent and hold such a ceremony on Whistleblower Appreciation Day on July 30 this year.

    In the Senate, I have dedicated my career to protecting the rights of whistleblowers through bipartisan legislative efforts and have urged my colleagues to support whistleblowers who shine a light on wrongdoing.  Instead of being treated like skunks at a picnic, let whistleblowers smell the roses at the White House and bask in the appreciation of a thankful nation well served by their efforts to shine a light on waste, fraud, and abuse.  I hope we can work to ensure whistleblowers are protected and appreciated and our government remains transparent and accountable to the American people. 

    Sincerely,

    Charles E. Grassley

    Chairman

    Committee on the Judiciary

    MIL OSI USA News

  • MIL-OSI Security: Hot Spring County Sheriff Pleads Guilty to Concealing a Material Fact from a Governmental Agency

    Source: Office of United States Attorneys

    EL DORADO – A Malvern, Arkansas, man entered a plea of guilty today to one count of Engaging in a Scheme to Conceal a Material Fact from a Governmental Agency. The Honorable Chief Judge Susan O. Hickey presided over the change of plea hearing, which took place in the United States District Court in El Dorado.

    According to the plea agreement, Derek” Scott” Finkbeiner, age 47 the elected Sheriff of Hot Spring County (Malvern), admitted that from approximately August 19, 2023, through August 24, 2023, he intentionally misled and concealed material facts from the Federal Bureau of Investigation (FBI) about the true nature of his relationship with a target of an FBI investigation.  Finkbeiner admitted that he was present at the target’s residence when the FBI conducted a controlled purchase of narcotics and that he “smoked” crack cocaine and methamphetamine with the target.  Further, Finkbeiner admitted that once he learned of the FBI’s investigation, he intentionally lied about the nature of his and the Hot Spring County Sheriff Department’s relationship with the target, all in an effort to convince the FBI to cease its investigation.

    Finkbeiner’s sentencing is expected to take place in approximately four months. Finkbeiner faces a maximum penalty of up to 5 years in prison for the crime to which he plead guilty. Chief District Judge Susan Hickey will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

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

    The Federal Bureau of Investigation investigated the case.

    First Assistant U.S. Attorney Kim Harris and Assistant United States Attorneys Bryan Achorn and Trent Daniels of the U.S. Attorney’s Office for the Western District of Arkansas are prosecuting the case.

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

    MIL Security OSI

  • MIL-OSI USA: Governor Stein Announces Ten Recipients of Governor’s Educator Discovery Award

    Source: US State of North Carolina

    Headline: Governor Stein Announces Ten Recipients of Governor’s Educator Discovery Award

    Governor Stein Announces Ten Recipients of Governor’s Educator Discovery Award
    lsaito

    Raleigh, NC

    Today, Governor Josh Stein and the North Carolina Business Committee for Education (NCBCE) announced that ten teachers across the state would be awarded the Governor’s Educator Discovery Award. 

    “Our students benefit when their teachers prioritize their own continued education,” said Governor Josh Stein. “I am proud to award these professional development grants to teachers who are striving for excellence, and I am excited to hear how they leverage this additional education in the classroom.”

    The Governor’s Educator Discovery Award is a stipend of up to $1,000, awarded to PreK-12 traditional public and public charter educators to pursue a professional development experience of their choosing. Teachers submit a proposal detailing their teaching experience, the professional development activity they wish to pursue, and how it would enhance their efforts to create work-based learning activities for their students. These applications then go through a rigorous review process and are narrowed down to ten winners.

    The 2024 winners were from the twelfth and thirteenth cycles of teachers to receive the award since its inception in 2019. Growing interest in the program has enabled it to expand, bringing the total number of grants awarded to 51. The next cycle of the Governor’s Educator Discovery Award is currently open and accepting applications. Learn more and apply here.

    The ten teachers who received grants will use their Governor’s Educator Discovery Award in the following ways:

    Daniel Fussell, a Social Studies Teacher at Innovation Early College High School in Pitt County Schools, attended the NC Technology in Education Society (NCTIES) conference in Raleigh, where he learned about innovative technologies to support a classroom that prepares students for a future-oriented workforce. In the past, NCTIES has inspired Fussell to introduce TinkerCad and 3D printers into his classroom. 

    Cori Greer-Banks, a Humanities and Expedition teacher at The Exploris School in Wake County Public Schools, used the stipend toward three different professional development opportunities. First, the Monticello Teacher Institute is an immersive professional development program that allows social studies teachers to research and study at Monticello and the Jefferson Library in Charlottesville, Virginia. The other two fellowships are offered through the National Endowment for the Humanities: Little Tokyo: How History Shapes a Community Across Generations, and Grand Coulee Dam: The Intersection of Modernity and Indigenous Cultures. Engaging in these programs will allow Greer-Banks to expand the number of perspectives in her American history curriculum. 

    Pamela Jordan, a Career Development Coordinator at Warren County High School in Warren County Public Schools, will use the grant for the National Career Development Association (NCDA) Summer Conference in San Diego, CA last June. The conference topics highlight the state of the workplace and the need for connecting mental and physical health with career success. Jordan seeks to gain additional insights on strategies and techniques to balance the current technical landscape and mental health issues derived from the COVID-19, to support students turning to career pursuits.

    Lauren Wilmot, an animal science, veterinary assisting, and horticulture teacher at North Pitt High School in Pitt County Schools, attended the NC CTE Summer Conference in Winston-Salem thanks to the grant. The conference provided numerous workshops and professional development opportunities regarding CTE curriculum updates, as well as hands-on labs that can be used in the classroom. Teachers also had the opportunity to collaborate with fellow educators in their content area from across the state.

    Rong Zhang, a Mandarin Chinese teacher at East Cary Magnet Middle School in Wake County Public Schools applied the award toward the 2024 MSU STARTALK for Chinese Language Teachers Program. STARTALK, funded by the National Security Agency (NSA), is designed to increase the number of U.S. citizens proficient in critical-need foreign languages, with a particular emphasis on Chinese. The program comprises a learning phase to curriculum development and language assessment, a summer professional development program focused on unit development and refinement, and classroom implementation and evaluation.

    Franchone Bey, an English teacher at West Charlotte High School in Charlotte-Mecklenburg County Schools attended the National Council for Teachers of English (NCTE) Annual Convention in Boston. The event offered ELA educators the chance to collaborate with teachers from across the country, meet research scholars, and hear from prominent authors like keynote speaker Justice Ketanji Brown Jackson. By the end of the event, participants could integrate real-world writing experiences into their classrooms, employing cross-curricular inquiry methods and project-based learning to enhance student writing skills. 

    Darren Rhym, an English teacher at Columbia Early College High School in Tyrell County Schools also attended the NCTE Annual Convention in Boston. Rhym attended the event to learn about ways to utilize NC Writing Standards in his clean energy unit, emphasizing the importance of cross-curricular learning. Through various sessions presented by research scholars and authors, Rhym was able to gather a unit of materials for developing project-based learning experiences to enhance student writing and employability.

    Alicia D’Joi, a STEM teacher and Robotics Coach at JM Alexander Middle School in Charlotte-Mecklenburg County Schools used the grant to attend the AIM Conference hosted by NCDPI in Raleigh. D’joi led a session titled Robotics for Rookies: Your First Steps into the Future, where she provided an exciting and hands-on introduction to the world of robotics. In her session, rookie participants learned to design, build, and code a robot. Through this event, D’Joi shared her vast knowledge with colleagues across the state and heard from other educators and educational leaders.

    Jessamyn Bailey, a Visual Arts and Photography teacher at High Point Central High School in Guilford County Schools, attended the North Carolina Arts Educator Association (NCAEA) Annual Conference in Asheville. The conference offered a wide range of professional development opportunities, including workshops on fiber arts, photography, curriculum development, and new art-making techniques. Sessions focused on hands-on learning while providing networking opportunities with practicing artists and art organizations, allowing educators to bring career exploration and work-based learning opportunities into their classrooms.

    Ameriki Somers, a Media Coordinator at Lowrance Middle School in Forsyth County Schools, will use the award this year to attend the American Association of School Librarians (AASL) Conference in St. Louis, MO. Lowrance Middle School is an alternate learning environment that serves students with fundamental disabilities in grades 6 – 10. The conference will provide Somers with innovative strategies and resources to create specifically tailored hands-on work experiences that meet the accessibility needs of her students. Somers hopes to provide her students with the opportunity to explore careers and develop real-world skills through the inclusive learning environments, adaptive technologies, and differentiated instructional methods.

    The Governor’s Educator Discovery Awards are funded by NCBCE member companies. As interest in the program continues to grow with each cycle, NCBCE hopes to raise additional funds to expand the program in future years. Parties interested in funding the initiative should contact Caroline Sullivan, Executive Director of NCBCE, at caroline.sullivan@nc.gov.

    The North Carolina Business Committee for Education (NCBCE) is a business-led, education non-profit (501-c3) that operates out of the Office of the Governor. Since 1983, NCBCE has provided a critical link between North Carolina business leaders and the state’s education decision-makers, helping to create connections between the education curriculum and the overall work readiness of people across the state. 

    Feb 14, 2025

    MIL OSI USA News

  • MIL-OSI Security: Beware of Scammers Looking for More Than Love This Valentine’s Day

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

    Online Imposters Are Breaking Hearts and Bank Accounts

    JACKSONVILLE, FL—The FBI Jacksonville Division warns Floridians to take caution when developing relationships online as they could be targeted in confidence fraud schemes, also known as romance scams. According to the FBI’s Internet Crimes Complaint Center (IC3), Floridians reported losing more than $62 million to various forms of romance scams in 2023, up from $20 million five years earlier (2018). IC3 received 17,832 confidence fraud complaints nationwide in 2023, with reported losses exceeding $652,554,805.

    Confidence fraud/romance statistics for Florida:

    • 2018: 1,191 victims, $20,555,538 in reported loses
    • 2023: 1,351 victims, $62,867,005 in reported loses

    The criminals who carry out confidence/romance scams will often identify and target victims via social media and seek to establish a relationship as quickly as possible. Scammers may spend hours researching their victims to better manipulate and exploit them emotionally. They often claim to be traveling or engaged in work overseas to avoid meeting in person. When they feel they have gained their victim’s trust, they request money to cover an expense or promote a financial investment opportunity.

    The FBI recently launched a campaign called “Operation Level Up” to increase awareness of cryptocurrency investment scams, commonly described as “pig butchering,” which are among the most prevalent and costly fraud schemes today. Through various means of manipulation, scammers convince victims to deposit more and more money into financial “investments” using cryptocurrency. In truth, these investments are fake; all victim money is under the control of – and ultimately stolen by—criminal actors, usually overseas. As a result, victims typically lose all the money they invested.

    Be careful about the personal information you post online, and always assume that con artists are trolling even the most reputable dating and social media sites. Consider these helpful tips:

    • Research the person’s photo and profile to see if the material appears elsewhere.
    • Take the relationship slowly and ask questions.
    • Beware if the individual seems too perfect or quickly asks you to communicate “offline.”
    • Beware if the individual requests inappropriate photos that they could use to extort you.
    • Beware if the individual promises to meet in person but always has an excuse.
    • Never send money, cryptocurrency or gift cards to anyone you don’t know personally; never help anyone move money through your account or another person’s account (see Money Mule).

    If you suspect an online relationship is a scam, stop all contact immediately and file a complaint with the FBI’s Internet Crime Complaint Center at www.ic3.gov.

    Resources

    MIL Security OSI

  • MIL-OSI USA: 2025-27 ATTORNEYS GENERAL STATEMENT RE: VICE PRESIDENT’S COMMENTS ON JUDICIAL REVIEW ON FEBRUARY 9, 2025

    Source: US State of Hawaii

    2025-27 ATTORNEYS GENERAL STATEMENT RE: VICE PRESIDENT’S COMMENTS ON JUDICIAL REVIEW ON FEBRUARY 9, 2025

    Posted on Feb 14, 2025 in Latest Department News, Newsroom

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF THE ATTORNEY GENERAL

    KA ʻOIHANA O KA LOIO KUHINA

     

    JOSH GREEN, M.D.
    GOVERNOR

    KE KIAʻĀINA

     

    ANNE LOPEZ

    ATTORNEY GENERAL

    LOIO KUHINA

      

    ATTORNEYS GENERAL STATEMENT RE: THE VICE PRESIDENT’S COMMENTS ON JUDICIAL REVIEW ON FEBRUARY 9, 2025

    News Release 2025-27 

    FOR IMMEDIATE RELEASE                                               

    February 14, 2025 

    “If a judge tried to tell a general how to conduct a military operation, that would be illegal. If a judge tried to command the attorney general in how to use her discretion as a prosecutor, that’s also illegal. Judges aren’t allowed to control the executive’s legitimate power.”
    Vice President Vance, February 9, 2025

    HONOLULU – Attorney General Anne Lopez released the following joint statement signed by 17 state attorneys general regarding Vice President Vance’s comments on judicial review made on February 9, 2025.

    “The Vice President’s statement is as wrong as it is reckless.  As chief law enforcement officers representing the people of 17 states, we unequivocally reject the Vice President’s attempt to spread this dangerous lie.

    “Judges do not ‘control’ executive power. Judges stop the unlawful and unconstitutional exercise of power. As Chief Justice Marshall said in Marbury v. Madison over 200 years ago, ours is ‘a government of laws, and not of men,’ and that ‘it is emphatically the province and duty of the judicial department to say what the law is.’  For those who value the original intent of the founders and our legal traditions, nothing is more firmly rooted in our legal history, tradition, and the original intent of the founders than the power of judges to stop the executive from breaking the law.

    “Americans understand the principle of checks and balances. The judiciary is a check on unlawful action by the executive and legislative branches of government. Generals, prosecutors, and all public officials are subject to checks and balances.  No one is above the law.  

    “As Attorneys General, we will carefully scrutinize each and every action taken by this administration. If the Constitution or federal law is violated, we will not hesitate to act.

    “That is why we have already filed motions in courts across this country to seek temporary restraining orders and injunctions blocking the unlawful and unconstitutional executive orders and actions, including those to ban birthright citizenship; indiscriminately freeze federal funding; cap vital medical research dollars; and grant unauthorized disclosure of Americans’ private records and data.

    “Judges granted our motions and issued restraining orders to protect the American people, democracy, and the rule of law. That is and has always been their job.  That job is the very core of our legal system. And in this critical moment, we will stand our ground to defend it.”

    Attorney General Lopez was joined in this statement by the attorneys general of Arizona, California, Connecticut, Delaware, Illinois, Maryland, Massachusetts, Maine, Minnesota, Nevada, New Jersey, New Mexico, Oregon, Rhode Island, Vermont and Washington.

    # # #

    Media contacts:

    Dave Day

    Special Assistant to the Attorney General

    Office: 808-586-1284                                                  

    Email: [email protected]        

    Web: http://ag.hawaii.gov

    Toni Schwartz

    Public Information Officer

    Hawai‘i Department of the Attorney General

    Office: 808-586-1252

    Cell: 808-379-9249

    Email: [email protected] 

    Web: http://ag.hawaii.gov

    MIL OSI USA News

  • MIL-OSI: F&M Bank Welcomes Carly Buchanan as Chief People Officer

    Source: GlobeNewswire (MIL-OSI)

    ARCHBOLD, Ohio, Feb. 14, 2025 (GLOBE NEWSWIRE) — F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) is pleased to announce Carly Buchanan as its new Chief People Officer.

    With over 18 years of HR, leadership, and organizational development experience across multiple industries, Carly will lead F&M’s Human Resources Department, driving strategic HR planning, talent acquisition, employee engagement, and organizational growth.

    Carly brings a decade of retail banking experience to her role, providing valuable insight into customer-focused strategies and operational efficiency. She holds senior HR certifications from SHRM (SHRM-SCP) and HRCI and has served as past President of the Northeast Indiana Human Resources Association. Recognized as a 2023 Fort Wayne 40 Under 40 honoree, Carly is also deeply committed to community involvement, supporting organizations like Junior Achievement, Boys and Girls Club, and the 988 Crisis Lifeline.

    “Carly’s leadership, expertise, and passion for people make her an incredible asset to F&M Bank,” said Lars Eller, President, and CEO. “Her strategic vision will strengthen our culture, enhance employee engagement, and support our mission of serving our customers and communities.”

    Carly earned her MBA and a Bachelor of Science in Business Administration from Indiana Tech. She and her family reside in Northern Indiana, where she combines professional excellence with a strong dedication to community impact.

    About F&M Bank:
    F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Troy, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

    Safe harbor statement
    Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

    Company Contact: Investor and Media Contact:
    Lars B. Eller
    President and Chief Executive Officer
    Farmers & Merchants Bancorp, Inc.
    (419) 446-2501
    leller@fm.bank
    Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com
       

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/76198bd4-ead9-4c89-b7e5-28afc0e22a0d

    The MIL Network

  • MIL-OSI Asia-Pac: LOK SABHA SPEAKER EMPHASIZES THE IMPORTANCE OF QUALITY LEGISLATIVE DRAFTING AND THE IMPORTANCE OF INPUTS FROM ELECTED REPRESENTATIVES IN LEGISLATIVE PROCESSES

    Source: Government of India (2)

    LOK SABHA SPEAKER EMPHASIZES THE IMPORTANCE OF QUALITY LEGISLATIVE DRAFTING AND THE IMPORTANCE OF INPUTS FROM ELECTED REPRESENTATIVES IN LEGISLATIVE PROCESSES

    LOK SABHA SPEAKER PITCHES FOR FINANCIAL AUTONOMY OF LEGISLATURES, CALLS FOR WIDER CONSULTATIONS

    LOK SABHA SPEAKER URGES ELECTED REPRESENTATIVES TO DESIST FROM PLANNED DISRUPTIONS, RAISE ISSUES IN THE HOUSE WITHIN AMBIT OF RULES, PROCEDURES AND CONVENTIONS

    LOK SABHA SPEAKER COUNSELS FIRST TIME ELECTED LEGISLATORS OF HARYANA LEGISLATIVE ASSEMBLY TO STUDY RULES AND PROCEDURES OF THE HOUSE THOROUGHLY SO THAT THEY COULD RAISE PEOPLES’ ISSUES EFFECTIVELY

    BEST LEGISLATOR IS THE ONE WHO ENGAGES IN MEANINGFUL DISCUSSIONS IN THE HOUSE; DISCUSSES ISSUES ON THE BASIS OF EXTENSIVE STUDY, USES TECHNOLOGY AND INNOVATION: LOK SABHA SPEAKER

    LOK SABHA SPEAKER INAUGURATES TWO DAY ORIENTATION PROGRAMME FOR NEWLY ELECTED MEMBERS OF HARYANA LEGISLATIVE ASSEMBLY

    Posted On: 14 FEB 2025 6:17PM by PIB Delhi

    14th February, 2025: Lok Sabha Speaker Shri Om Birla has emphasized the importance of quality legislative drafting and the importance of inputs from elected representatives in legislative processes. Calling for wider consultations in the legislative drafting process, Shri Birla highlighted that lack of adequate inputs at the stage of drafting of legislations has its impacts on both the functioning of the government and legislative scrutiny by lawmakers. Delivering the inaugural address at a two-day Orientation programme for newly elected members of Haryana Vidhan Sabha, he said that newly elected lawmakers should be suitably engaged at this early stage to ensure that the perspectives and concerns of the people they represent are adequately reflected in the proposed legislations. By fostering a collaborative approach between lawmakers and originating ministry, the quality and effectiveness of legislation can be enhanced, making it more relevant and beneficial to the public, Shri Birla said. Shri Birla stressed that knowledge of legislative drafting is very important for effective law making; therefore, public representatives should undergo regular capacity building measures in legislative drafting. Recalling the earlier discussions at several legislative fora, he also suggested for expediting the digitization of debates of State legislatures so that the elected members can access them easily and utilize those valuable records for strengthening skills as law makers. Chief Minister, Haryana, Shri Nayab Singh Saini; Speaker, Haryana Legislative Assembly, Shri Harvinder Kalyan; Presiding Officers of Uttar Pradesh and Punjab, Ministers in the Government of Haryana and Members of Haryana Legislative Assembly graced the event which was organised in the State Legislative Assembly premises, Chandigarh. Addressing the concerns of State Legislatures for financial autonomy, Shri Birla opined that financial autonomy will boost efficiency of State legislature and at the same time he called for wider consultations among stakeholders on this issue. Stressing on fruitful debates and discussions in the House, Shri Birla urged the Assembly Members to connect with the people they represent, understand their concerns and raise them in the House. Assembly is the appropriate platform for the Members to become leaders of the State, he noted. Further noting that Members should raise the issues in the House within the ambit of the rules, Shri Birla counseled the first time elected legislators of Haryana Vidhan Sabha to study the rules and procedures thoroughly so that they could raise peoples’ issues effectively. He urged the Members to desist from planned disruptions of House proceedings. The more effective the legislatures will be in reviewing policies and programmes of the Government, the more transparent will be the governance and the more accountable will be the Executive, he further added. Noting that the present age is the age of technology and innovations, the Speaker called for use of technologies by law makers to make their participation more effective and fruitful. The best legislator is the one who engages in meaningful discussions in the Assembly; discusses issues on the basis of extensive study, and uses technology in the age innovation, said Shri Birla. He encouraged newly elected MLAs to aspire for becoming best MLAs and to realize the aspirations of the people by making full use of the processes of the House through effective discussion and dialogue. Speaking on the contributions of Haryana and Haryana Legislative Assembly, Shri Birla noted that Haryana has contributed significantly to the economic and social empowerment of the country. Noting the glorious history of Haryana Vidhan Sabha, he appreciated the functioning of Haryana Legislative Assembly as an effective forum of ensuring accountability of the Executive and fulfilling hopes and aspirations of the people of the State. On this occasion, Shri Birla led the Members of the Haryana Legislative Assembly in reading Preamble to the Constitution of India. Speaker, Haryana Legislative Assembly, Shri Harvinder Kalyan delivered Welcome Address. Chief Minister, Haryana, Shri Nayab Singh Saini addressed the distinguished gathering on this occasion. Speaker, Uttar Pradesh Legislative Assembly, Shri Satish Mahana also spoke on this occasion. Dr. Krishan Lal Middha, Deputy Speaker, Haryana Vidhan Sabha delivered the Vote of Thanks. Shri Birla was warmly welcomed by Chief Minister, Haryana, Shri Nayab Singh Saini; Speaker, Haryana Legislative Assembly, Shri Harvinder Kalyan and other dignitaries at Haryana Legislative Assembly. Shri Birla was also given Guard of Honour on his arrival at the Legislative Assembly premises. 

    *** 

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    MIL OSI Asia Pacific News

  • MIL-OSI Security: Woman indicted for spending $260,000 on handbags using company debit card

    Source: Office of United States Attorneys

    KANSAS CITY, KAN. – A federal grand jury in Kansas City, Kansas, returned an indictment charging a Kansas woman with using her former employer’s company debit card to make hundreds of thousands of dollars in unauthorized purchases.

    According to court documents, Kendra Gonzalez, 32, of Olathe was indicted on one count of wire fraud.

    While working as a comptroller, Gonzalez is accused of using a company debit card to purchase 150 luxury handbags from a social commerce marketplace for online buying and selling of secondhand goods. 

    Gonzalez also allegedly used the company debit card for unauthorized personal expenses such as meals, entertainment, and hotel accommodations, and to send money to other people. 

    The Federal Bureau of Investigation (FBI) is investigating the case.

    Assistant U.S. Attorney Jabari Wamble is prosecuting the case.

    OTHER INDICTMENTS

    Hoover Rafael Alberto-Zuniga, 34, was indicted on one count of unlawful reentry after deportation. U.S. Immigration and Customs Enforcement (ICE) is investigating the case. Assistant U.S. Attorney Michelle McFarlane is prosecuting the case. 

    Jose Melecio Bolivar-Chaidez, 54, was indicted on one count of unlawful reentry after deportation – subsequent to a felony conviction. U.S. Immigration and Customs Enforcement (ICE) is investigating the case. Assistant U.S. Attorney Jabari Wamble is prosecuting the case.

    Jose Cristobal Rubio-Bardales, 43, was indicted on one count of reentry of a previously removed alien convicted of an aggravated felony. U.S. Immigration and Customs Enforcement (ICE) is investigating the case. Assistant U.S. Attorney David Zabel is prosecuting the case. 

    Lazarro Tiburcio-Nevarro, 38, was indicted on one count of unlawful reentry after deportation. U.S. Immigration and Customs Enforcement (ICE) is investigating the case. Assistant U.S. Attorney D. Christopher Oakley is prosecuting the case.

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

     

    MIL Security OSI

  • MIL-OSI Security: Undocumented Immigrant Indicted on Child Pornography Charge

    Source: Office of United States Attorneys

    ST. LOUIS – A undocumented immigrant living in St. Charles County, Missouri was indicted Thursday in U.S. District Court in St. Louis and accused of receiving images containing child sexual abuse material.

    Francisco J. Ocana-Talamantes, 46, was indicted on one count of receiving child pornography. The indictment accuses him of receiving those images via the internet between Feb. 11, 2020, and March 14, 2024.

    Charges set forth in an indictment are merely accusations and do not constitute proof of guilt.  Every defendant is presumed to be innocent unless and until proven guilty.

    Ocana-Talamantes is already in custody.

    A motion seeking to have him held in jail until trial says that Ocana-Talamantes is in the country illegally.

    “The FBI and our local law enforcement partners had been investigating Franscisco Ocana-Talamantes for his alleged crimes against children,” said Special Agent in Charge Ashley Johnson of the FBI St. Louis Division. “Because this defendant had entered the country illegally, the FBI was able to expedite his federal indictment and arrest by leveraging our assistance to the U.S. Department of Homeland Security’s immigration enforcement action.”

    The charge carries a potential penalty of at least five years in prison, with a maximum of 20 years.

    The FBI, the St. Charles Police Department and the St. Charles County Cyber Crime Task Force investigated the case. Assistant U.S. Attorney Jillian Anderson prosecuted the case. 

    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 the Department of Justice Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc.

    MIL Security OSI

  • MIL-OSI Security: Owner Of Las Vegas Company Indicted In $24 Million Cryptocurrency Ponzi Scheme

    Source: Office of United States Attorneys

    LAS VEGAS – A Las Vegas business owner made his initial appearance in court yesterday for allegedly misrepresenting that his company was a profitable, up-and-running artificial intelligence company that mined cryptocurrency, verified cryptocurrency transactions, paid fixed rates of return on investments, and provided a 100% money back guarantee. In total, the defendant obtained approximately $24 million from at least 400 investors.

    “Mr. Kovar allegedly stole victims’ hard-earned money by making false representations regarding his investment company, including misleading some victims to believe their investments were backed by the FDIC,” said Ryan Korner, Special Agent in Charge with the Federal Deposit Insurance Corporation Office of Inspector General (FDIC OIG). “FDIC OIG is committed to identifying, and holding accountable, those who endanger our Nation’s financial system by victimizing others for their personal gain.”

    Brent C. Kovar, 58, is charged with 12 counts of wire fraud, three counts of mail fraud, and three counts of money laundering. A jury trial has been scheduled to begin on April 8, 2025, before United States District Judge Jennifer A. Dorsey.

    According to allegations contained in the indictment, from late 2017 to July 2021, Kovar owned Profit Connect, a Las Vegas, Nev., based company that purportedly used artificial intelligence software on a supercomputer to mine cryptocurrency and verify cryptocurrency transactions. He falsely represented to investors that Profit Connect paid a fixed rate of return of 15%-30% APR and provided a 100% money-back guarantee. In reality, Kovar used investor money to operate Profit Connect, buy gifts for employees, buy a house for himself, and repay investors as if those repayments came from mining cryptocurrency and verifying cryptocurrency transactions.

    As part of the scheme, Kovar created a website, a YouTube video, and a PowerPoint presentation in which he made the misrepresentations to influence customers to buy investments. Furthermore, he leased office space for a sales office and a warehouse for a data center. As alleged, investments were sold through an entity known as Profit Connect Wealth Services. Kovar sent money via wire transfers to investors, he mailed checks through the U.S. Postal Service, and he engaged in monetary transactions greater than $10,000 that were derived from unlawful activity.

    If convicted, Kovar faces a total maximum statutory penalty of 330 years in prison and a fine of not more than $4,500,000. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting United States Attorney Sue Fahami, Special Agent in Charge Spencer L. Evans for the FBI Las Vegas Division, Special Agent in Charge Ryan Korner for the FDIC OIG, and Special Agent in Charge Carissa Messick for the IRS Criminal Investigation (IRS-CI) Phoenix Field Office made the announcement.

    The FBI, FDIC OIG, and IRS-CI investigated the case. Assistant United States Attorney Daniel Schiess is prosecuting the case.

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

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    MIL Security OSI

  • MIL-OSI Security: Mexican National Extradited to Face Drug and Money Laundering Criminal Charges

    Source: Office of United States Attorneys

    FLORENCE, S.C. — A federal grand jury in Florence has returned a two-count indictment charging Rafael Contreras, 38, of Mexico, with distributing cocaine and heroin and money laundering. Contreras was extradited from Mexico and arraigned in federal court in Florence this morning.

    The indictment alleges that Contreras directed the sale and distribution of large quantities of heroin and cocaine from Mexico, with the narcotics largely being sold in Horry County.

    “The extradition of this defendant marks a victory in our fight against transnational criminal organizations,” said U.S. Attorney Adair Ford Boroughs for the District of South Carolina. “We are grateful for the close cooperation with our law enforcement partners in Mexico and here in the United States. This extradition demonstrates our unwavering commitment to prosecuting those bringing illegal narcostics into our communities.”

    “This indictment and extradition send a clear message: the FBI is relentless in its pursuit of the criminals behind large-scale drug operations,” said Steve Jensen, Special Agent in Charge of the FBI Columbia field office. “The defendant, as alleged, caused significant harm to Horry County by directing the distribution of lethal amounts of heroin and cocaine. The FBI and our law enforcement partners will continue to expose and root out international drug trafficking networks that threaten the safety of our communities.”

    Contreras faces a maximum penalty of life in prison. He is currently detained pending trial.

    This case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    The case was investigated by the FBI Columbia Field Office, the Horry County Police Department, the Horry County Sheriff’s Office, and the Myrtle Beach Police Department. The Justice Department’s Office of International Affairs worked with law enforcement partners in Mexico to secure the arrest and extradition of Contreras. The U.S. Marshals Service completed the removal of Contreras from Mexico to the District of South Carolina. Assistant U.S. Attorney Katherine Flynn is prosecuting the case.

    All charges in the indictment are merely accusations and defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

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    MIL Security OSI