NewzIntel.com

Category: Intelligence

  • MIL-OSI China: US Senate confirms John Ratcliffe as CIA director

    Source: China State Council Information Office

    U.S. Senate on Thursday voted to confirm former director of national intelligence John Ratcliffe as the next Central Intelligence Agency (CIA) director under President Donald Trump.

    The upper chamber voted 74-25 to approve the nomination of Ratcliffe, who served as Trump’s director of national intelligence for the last eight months of his first term. Ratcliffe previously served as a U.S. House representative for Texas’s 4th congressional district from 2015 to 2020.

    Twenty-one Democrats joined Republicans in supporting Ratcliffe’s nomination, indicating bipartisan support in a divided political climate.

    Despite that, Senate Minority Leader Chuck Schumer said he opposed Ratcliffe because he is deeply worried that Ratcliffe will be unable to stand up to people like Trump and Trump’s nominee to be the director of national intelligence Tulsi Gabbard, “who are known to falsify intelligence.”

    Thursday’s vote took place three days after the Senate unanimously confirmed U.S. Senator from Florida Marco Rubio as Secretary of State, just hours after Trump’s inauguration, making it the second major appointment for the new administration.

    Senate Majority Leader John Thune has set up votes for more of Trump’s nominees, including Pete Hegseth, nominated for Secretary of Defense. Hegseth has faced criticism for his lack of military leadership experience, as well as allegations of alcohol abuse, sexual assault, and financial mismanagement of organizations he led.

    Thune has criticized Democrats for delaying Trump’s nominees, urging them to allow quick votes on the matter.

    Republicans currently have a 53-47 majority in the Senate. To confirm a presidential nomination, a simple majority is needed, meaning the Republicans can afford to lose no more than two votes if all Democrats oppose the nomination.

    MIL OSI China News –

  • MIL-OSI Security: Former Owner of San Diego Surrogacy Consulting Businesses Admits to Stealing Client Funds

    Source: Office of United States Attorneys

    SAN DIEGO – Lillian Arielle Markowitz, former owner of three San Diego-based surrogacy consulting businesses, pleaded guilty in federal court today to fraud charges, admitting that she stole hundreds of thousands of dollars in client funds from escrow accounts set up to pay for surrogacy-related services.

    According to her plea agreement, Markowitz admitted that she owned three businesses — My Donor Cycle, Surrogacy Beyond Borders, and Expecting Surrogacy — through which she marketed herself as a surrogacy consultant to those seeking to realize their dreams of becoming surrogate parents. Beginning around 2018, when Markowitz and her businesses began to experience financial distress, she devised a scheme to steal money from her surrogacy clients by, among other things, submitting fraudulent requests to the escrow company where her clients’ funds were maintained.

    Markowitz admitted to submitting four fraudulent escrow disbursement requests from the escrow accounts of two couples. One included what Markowitz knew to be a forged client signature, and each one resulted in her obtaining a check from the escrow company without the knowledge or consent of her clients.

    In addition, Markowitz admitted that beginning in January 2019 and continuing through May 2021, she defrauded nine additional clients by falsely promising their funds would be deposited into an escrow account and that they would be accessed only to pay for expenses related to their respective surrogacy journey. In fact, Markowitz deposited these clients’ funds into a business checking account and immediately accessed those funds to cover general business expenses, expenses related to other clients’ surrogacy journeys, and her personal expenses. As a condition of her plea, Markowitz has agreed to make restitution of at least $389,142.00 to her former clients.

    “The path to parenthood through surrogacy can be fraught with emotional and financial challenges,” said U.S. Attorney Tara McGrath. “This defendant selfishly exploited vulnerable clients who were striving to fulfill their dream of becoming parents.”

    “Instead of aiding her hopeful clients on their path to parenthood, the defendant took advantage of their vulnerability, betrayed their trust, and stole their money,” said FBI San Diego Special Agent in Charge Stacey Moy. “FBI will continue to investigate these unique fraud schemes to protect the public against those who employ empty promises and prey upon vulnerable individuals.”

    Markowitz is scheduled to be sentenced on April 11, 2025, at 9:30 a.m., by District Judge Todd W. Robinson.

    If you believe that you may be a victim in this case, please contact the FBI San Diego field office at (858) 320-1800.

    This case is being prosecuted by Special Assistant United States Attorney Jeffrey D. Hill and Assistant U.S. Attorney Mark W. Pletcher.

    DEFENDANT                                                           Case Number 24-CR-0904-TWR

    Lillian Arielle Markowitz (aka Lillian Frost)             Age: 40                                   Portland, OR

    SUMMARY OF CHARGES

    Wire Fraud – Title 18, U.S.C., Section 1343

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

    INVESTIGATING AGENCY

    Federal Bureau of Investigation         

    MIL Security OSI –

  • MIL-OSI USA: Capito Votes to Confirm Ratcliffe for CIA Director

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito

    WASHINGTON, D.C. – U.S. Senator Shelley Moore Capito (R-W.Va.), a member of the Senate Appropriations Defense Subcommittee, issued the following statement after voting to confirm John Ratcliffe to serve as Central Intelligence Agency (CIA) Director. Ratcliffe was confirmed by a vote of 74 to 25.

    “John Ratcliffe is a strong choice by President Trump to serve as CIA Director. The men and women of the CIA have some of the most difficult, most impactful jobs in our government. They need a leader to provide a steady hand as they carry out the dangerous work that keeps Americans safe. I have confidence that Mr. Ratcliffe will bring his valuable experience as Director of National Intelligence to this role, empowering our CIA to excel in its operations while trimming any bureaucratic hurdles that detract from its core missions. As a member of the Defense Appropriations Subcommittee, I look forward to working with him to provide the CIA with the resources it needs to protect the American people,” Senator Capito said.

    Senator Capito previously met with Ratcliffe in December of 2024 to discuss his nomination and learn more about his vision to lead the agency.

    MIL OSI USA News –

  • MIL-OSI Security: Comm, Clear and Connected: The 8th Communication Squadron keeps Beverly Pack 25-1 connected

    Source: United States INDO PACIFIC COMMAND

    KUNSAN AIR BASE, Republic of Korea  –  

    Secure and seamless communication is important to complete day-to-day military operations. It’s required when they are executed from afar.

    The 8th Communications Squadron successfully tested their extended capabilities for the first time during Exercise Beverly Pack 25-1, simultaneously connecting operations at Kunsan Air Base and a simulated forward operating base through an expeditionary communications team Jan. 12-16. The exercise marks the largest-scale agile combat employment generation, deployment, and sustainment exercise within Seventh Air Force.

    “The 8th expeditionary communications team consists of four AFSCs within the communications career field who are dedicated to providing ACE support and capability,” said 1st Lt. Mackenzie Clay, 8th CS operations flight commander. “They were given orders to provide C4I (command, control, communications, computers, and intelligence) for the wing, simulating and testing all the equipment in the flyaway kits to ensure constant communication between operational forces and wing leadership.”
    The Communication Flyaway Kits, consisting of tactical satellite communications and network devices, are designed by coordinating with other units and assessing deployment requirements to sustain operations at Kunsan and at simulated locations. They are imperative to integrate plans and agencies during exercises and any potential contingency operations.

    “The team operates on mission-type orders to provide C4I, communicating through the Emergency Operations Center via the primary, alternate, contingency and emergency (PACE) plan,” said SrA Luis Del Carmen Diaz, expeditionary communications operator. “Through the use of the Communication Flyaway Kit package, the 8 CS can provide short and long range Non-Classified and Secret Internet Protocol Router (NIPR and SIPR) Networks as well as mission partner environment communication capabilities.”

    Expeditionary communications teams and other CS assets are necessary for ACE operations: they help provide integral information regarding locations and statuses of adversaries and friendly forces. Providing the fullest picture of the operational scenario, they are a necessary component for quality decision-making which enables dispersed forces to adapt and prevail.

    “We are continuously testing our equipment and ideas to bring faster speeds, options, and sizes to support ourselves and our allies,’ said SSgt Guillerma Khan, expeditionary communications NCOIC. “Mobility is essential, and our assets are the glue between us and any given location. The ability to communicate on-the-go pushes us further ahead of our adversaries.”

    MIL Security OSI –

  • MIL-OSI Security: Federal Jury Finds Hopkinsville, Kentucky Man Guilty of Methamphetamine and Fentanyl Distribution Conspiracy and Money Laundering

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

    Paducah, KY – Today, following a three-day trial, a federal jury convicted a Hopkinsville, Kentucky, man of conspiring to possess with the intent to distribute methamphetamine and fentanyl, as well as seven counts of money laundering.

    U.S. Attorney Michael A. Bennett of the Western District of Kentucky, Special Agent in Charge Jim Scott of the DEA Louisville Field Division, U.S. Postal Inspector in Charge Lesley Allison, of the USPIS Pittsburgh Division, Special Agent in Charge Karen Wingerd, of the Internal Revenue Service Criminal Investigations Cincinnati Field Office, Special Agent in Charge Shawn Morrow of the Department of Alcohol, Tobacco, Firearms, and Explosives Louisville Field Division, and Chief Jason Newby of the Hopkinsville Police Department made the announcement.

    According to court documents and evidence presented at trial, between May 20, 2020, and January 22, 2022, Robert Blaine, 46, of Hopkinsville, Kentucky conspired with Roderick Tutt and Jessica Ochoa to possess with the intent to distribute over 50 grams of methamphetamine and over 400 grams of a fentanyl mixture. During that time frame, Blaine wired money to Ochoa as payment for the drugs and in furtherance of the overall conspiracy. Blaine also mailed a box containing $36,960 in U.S. currency to Ochoa that he obtained from proceeds of illegal drug sales. On January 21, 2022, Blaine arranged for Tutt to travel to Arizona to pick up fentanyl and methamphetamine from Ochoa.  Tutt was supposed to bring the drugs back to Blaine in Hopkinsville. Tutt was arrested on the way back to Hopkinsville with 2,059 fentanyl pills and approximately 8 kilograms of methamphetamine.     Blaine has numerous prior drug trafficking convictions.

    On July 20, 2023, Roderick Tutt, 36, of Hopkinsville, Kentucky, and Jessica Ochoa, 40, of Phoenix, Arizona pled guilty to conspiring with Blaine to possess with the intent to distribute over 50 grams of methamphetamine and 400 grams of a mixture and substance containing fentanyl. Ochoa also pled guilty to seven counts of money laundering. Tutt and Ochoa are scheduled for sentencing on March 25, 2025, before a United States District Judge for the Western District of Kentucky.

    Blaine is scheduled for sentencing on May 5, 2025, and remains in federal custody pending sentencing. He faces a mandatory minimum sentence of 25 years and a maximum sentence of life in prison. A federal district court judge will determine the sentence after considering the sentencing guidelines and other statutory factors.

    There is no parole in the federal system.

    This case was investigated by the DEA Paducah Post of Duty, the United States Postal Inspection Service, the Internal Revenue Service Criminal Investigations Division, ATF – Louisville Division, and the Hopkinsville Police Department, with assistance from the FBI Louisville Field Division, the Tonto Apache Police Department, and the DEA – Phoenix Division.  

    Assistant United States Attorney Leigh Ann Dycus, of the U.S. Attorney’s Paducah Branch Office, prosecuted the case with assistance from paralegal Cristy Crockett.

    This effort is part of an Organized Crime Drug Enforcement Task Force (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at www.justice.gov/OCDETF.

    ###

    MIL Security OSI –

  • MIL-OSI USA: Statement by US Immigration and Customs Enforcement

    Source: US Immigration and Customs Enforcement

    January 26, 2025Washington, DC, United StatesStatement

    U.S. Immigration and Customs Enforcement, along with federal partners, including the FBI, ATF, DEA, CBP and the U.S. Marshals Service, began conducting enhanced targeted operations today in Chicago to enforce U.S. immigration law and preserve public safety and national security by keeping potentially dangerous criminal aliens out of our communities.

    MIL OSI USA News –

  • MIL-OSI: H&R Block to Participate in the Northcoast Research 2024 Management Fall Forum

    Source: GlobeNewswire (MIL-OSI)

    KANSAS CITY, Mo., Nov. 05, 2024 (GLOBE NEWSWIRE) — H&R Block, Inc. (NYSE: HRB) today announced that Jeff Jones, President and Chief Executive Officer, and Tiffany Mason, Chief Financial Officer, will host virtual investor meetings at the Northcoast Research 2024 Management Fall Forum on Tuesday, November 12, 2024.

    To request a meeting, please contact your Northcoast Research salesperson.

    About H&R Block
    H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time, and be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with year-round bookkeeping, payroll, advisory, and payment processing solutions. For more information, visit H&R Block News.

    For Further Information

    The MIL Network –

  • MIL-OSI Security: Twelve Indicted in Connection with Violent Drug Trafficking Gang That Distributed Fentanyl in Seattle and Everett

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

    Group referred to two distribution sites in U District of Seattle as “the House” and “the Office” – Leader shot dead outside one location earlier this year

    Seattle – A coordinated law enforcement operation over the last 48 hours has resulted in eleven arrests of members of a drug trafficking ring that set up shop in the University District of Seattle, announced U.S. Attorney Tessa M. Gorman. A year-long wire-tap investigation led to the indictment of 11 defendants on drug distribution and weapons charges. A twelfth defendant with ties to the organization was indicted on illegal weapons possession in connection with a deadly shooting at a Hookah bar in South Seattle. The defendants arrested over the last two days have or will be making appearances in U.S. District Court in Seattle.

    “These defendants were prolific fentanyl dealers who were frequently armed when guarding their stash or distributing their drugs,” said U.S. Attorney Gorman. “The danger to the community cannot be overstated in this case. The leader of the drug crew was gunned down last summer – right in front of one of the U District locations where members of the crew distributed their poison, and continued do so, following the deadly shooting.”

    “This operation exemplifies the power of collaboration among law enforcement agencies at all levels,” said Special Agent in Charge Robert Hammer, who oversees HSI operations in the Pacific Northwest. “By uniting our resources and expertise, we have successfully dismantled a criminal network that has endangered our communities through violent acts and the distribution of fentanyl. Together, we will continue to fight against violent crime and protect the lives of our citizens.”

    “There’s no true relief for those who have lost loved ones to drug-related crime or rising overdoses,” said Assistant Special Agent in Charge Carrie Nordyke of IRS-CI Seattle. “We stand with our law enforcement partners to stop groups that profit from the fentanyl epidemic by following the money.”

    Thirty-one locations were searched yesterday by some 600 law enforcement officers from ten different agencies. A total of eleven people were arrested: nine of those indicted and two additional defendants were arrested on criminal complaints.

    Three defendants are indicted for both gun and drug crimes:

    Cooper Sherman, aka “Coop,” 27, of Seattle is charged with conspiracy, two counts of possessing fentanyl with intent to distribute, one count of possessing a firearm in furtherance of a drug trafficking crime, and one count of carrying a firearm during and in relation to a drug trafficking crime.

    Alvin Whiteside, aka “Mafia, 51, of Federal Way is charged with conspiracy, one count of possessing fentanyl with intent to distribute, and one count of carrying a firearm during and in relation to a drug trafficking crime. Whiteside is in state custody and will be transferred to federal custody.

    Muhamed Ceesay, aka “Mo,” 27, of Lynnwood is charged with conspiracy, two counts of distributing fentanyl, one count of possessing fentanyl with intent to distribute, and one count of possessing a firearm in furtherance of a drug trafficking crime. Ceesay remains a fugitive.

    These eight defendants are charged in the indictment for the drug conspiracy and various drug distribution crimes:

    Ali Kuyateh, aka “Pops,” 49, of Seattle

    Lamin Saho aka “Buck,” 38, of Everett, Washington

    Oche Poston, 31, of Everett, Washington

    Jaquan Means, 45, of Bellevue, Washington

    Dominque Sanders, 34, of Everett, Washington – remains a fugitive.

    Patrick Smith, 27 of Edmonds, Washington – remains a fugitive.

    Matthew Robinson, 37, of Everett, Washington

    Yohannes Wondimagegnehu, aka “Jon,” 35, of Seattle

    Finally, Khaliil Ahmed, aka “Bossup,” 26, of Kent, Washington, was identified as someone who supplied guns to members of the conspiracy. He is charged in a separate indictment with three counts of illegal possession of firearms, and one count of illegal possession of ammunition. Two of the charges relate to guns he possessed on August 20, 2023, at the time of a fatal shooting at a hookah bar in South Seattle. Ahmed was injured in the shooting and three others were killed. The final two charges relate to a firearm and ammunition he possessed on May 30, 2024. Ahmed is prohibited from possessing firearms due to a 2022 conviction for illegally possessing firearms.

    Two defendants – Anteneh Tesfaye, 39, of Edmonds, Washington, and Michael Janisch, 25, of Mercer Island, Washington, were arrested on criminal complaints.

    Over the course of the investigation law enforcement has seized more than 19 kg of fentanyl, 12 firearms, and more than $130,000 in cash. In the operations yesterday they seized over 50 firearms to include fully automatic weapons and handguns with Glock switches; thousands of rounds of ammunition, including high capacity drum magazines, and armor-piercing rounds; several hundred thousand dollars of bulk cash and jewelry; 1 kilogram of fentanyl and 4 kilograms of cocaine.

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

    This case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF .

    This investigation was led by Homeland Security Investigations (HSI), with significant participation by Seattle Police Department (SPD), Internal Revenue Service Criminal Investigation (IRS-CI), Washington State Patrol (WSP), FBI, Drug Enforcement Administration (DEA), Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), U.S. Customs and Border Protection (CBP) Office of Field Operations, Customs and Border Protection Air and Marine Operations, U.S. Border Patrol, the King County Sheriff’s Office, the Bellevue Police Department, U.S. Marshals Service (USMS), Everett Police Department, Renton Police Department, U.S. Food and Drug Administration (FDA), Washington State National Guard, Washington State Gambling Commission, Yakima County Law Enforcement Against Drugs (L.E.A.D) Narcotics and Gang Task Force, and Northwest High Intensity Drug Trafficking Area (HIDTA).

    The case is being prosecuted by Assistant United States Attorneys Michelle Jensen and Joseph Silvio.

    MIL Security OSI –

  • MIL-OSI Security: Albuquerque FBI Division Announces It’s 2025 Citizen’s Academy

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

    Have you ever wondered how the FBI solves a case? Want to hear about the work agents are doing across New Mexico? Special Agent in Charge Raul Bujanda welcomes business, civic, and faith-based community leaders to apply for FBI Albuquerque’s Citizens Academy program, where we will give participants a first-hand look into life at the FBI.

    “The FBI’s Citizens Academy provides an incredible opportunity for members of the community to better understand the work of the FBI and partner with us in keeping New Mexico citizens safe,” said Raul Bujanda, special agent in charge for the FBI Albuquerque Division. “The FBI Citizens Academy program is a unique opportunity for us to share our work one-on-one with community leaders of all backgrounds, and for them to provide us with feedback. Through frank discussion and information sharing, we can improve relationships and advance our mission to protect all Americans.”

    FBI Albuquerque is now accepting nominations for the 2025 FBI Citizens Academy. Over the course of 8 sessions this spring, select business, religious, civic, and community leaders will be given an opportunity to go behind the scenes of local FBI operations and experience case studies and demonstrations led by Special Agents, Intelligence Analysts, and FBI Professional Staff. Topics will include how the FBI works to combat violent crime, human trafficking, cybercrime, counterintelligence, Indian Country, terrorism, and how teams train in forensics, firearms, evidence recovery, and more.

    • When: Wednesday evenings February 19th, 2025 – April 23rd, 2025
    • Where: FBI Albuquerque 4200 Luecking Park Ave NE, Albuquerque New Mexico 87107

    How to Apply: The FBI Citizens Academy is open to anyone with an interest in learning how the FBI works to protect and serve the community. Candidates can be nominated by a program alumnus, former or current FBI employee, or self-nominated. The nomination form must be completed in full and returned by the close of business on Friday, December 20, 2024. If selected, there is no cost to attend. Questions regarding the program or application process can be directed to aq.outreach@fbi.gov

    Requirements:

    • Business, religious, civic, or community leader
    • Be at least 21 years of age
    • No felony or serious misdemeanor convictions
    • Cannot be under investigation as a subject in a criminal case
    • Must live or work in New Mexico
    • Must agree to and pass a limited background check
    • Must be able to attend classes in person

    MIL Security OSI –

  • MIL-OSI Security: Two National MS-13 Gang Leaders and Other MS-13 Members and Associates Indicted for Murders in Queens and Long Island

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

    Superseding Indictment Adds Charges Relating to Three Murders, Including Charges Against National Gang Leaders Edenilson Velasquez Larin and Hugo Diaz Amaya

    A 49-count superseding indictment was unsealed today in federal court in Brooklyn that includes new charges relating to murders allegedly ordered and committed by national leaders, members and associates of the violent transnational criminal organization La Mara Salvatrucha, also known as MS-13.  To date, multiple MS-13 members and associates have been charged in the case for numerous crimes including the murders of Andy Peralta in 2018, Victor Alvarenga in 2018, Abel Mosso in 2019 and Eric Monge in 2020.  The superseding indictment filed today includes new charges against the following MS-13 members and associates:

    • Edenilson Velasquez Larin, also known as “Agresor,” “Saturno,” “Tiny,” “Erick” and “Paco,” allegedly a national leader of MS-13 and the Fulton Locos Salvatruchas (Fulton) clique, who is charged with the 2016 murder of Kenney Reyes and for ordering the murders of Monge in 2020 and Oswaldo Gutierrez Medrano in 2022.
    • Hugo Diaz Amaya, also known as “21” and “Splinter,” allegedly another national leader of MS-13 and the Park View Locos Salvatruchas clique, who is charged with racketeering conspiracy and the murder of Gutierrez Medrano in 2022.
    • Numerous other members of the Fulton clique, all of whom were previously charged in the case, have also now been charged with the murders of Reyes, Monge and Gutierrez Medrano.  

    Breon Peace, United States Attorney for the Eastern District of New York, James E. Dennehy, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI), William S. Walker, Special Agent in Charge, Homeland Security Investigations (HSI), New York, Thomas G. Donlon, Interim Commissioner, New York City Police Department (NYPD), and Patrick Ryder, Commissioner, Nassau County Police Department (NCPD), announced the arrests and charges.

    “My Office and our law enforcement partners have worked tirelessly to hold MS-13 accountable for the unspeakable harm it has done to its victims and our communities.  As these charges make clear, our pursuit of those responsible will not be deterred by the passage of time or by the leaders of MS-13’s futile attempts to hide in the shadows,” stated United States Attorney Peace.  “This indictment strikes yet another blow at MS-13’s leadership and demonstrates our work to dismantle MS-13 from top to bottom.”

    Mr. Peace also thanked the FBI Baltimore Field Office’s Cross Border Task Force, the Nassau County District Attorney’s Office and the Suffolk County District Attorney’s Office for their valuable coordination with the investigation.

    “Edenilson Velasquez Larin and Hugo Diaz Amaya, national MS-13 leaders, allegedly assumed the role of executioner by ordering and participating with the other charged defendants in a series of brutal murders to achieve status and revenge. These alleged conspiracies highlight the fearmongering and callousness in which MS-13 leaders and members operate. May today’s charges reflect the FBI’s commitment to continue its close collaboration with our law enforcement partners to rigorously dismantle the MS-13 hierarchy and disrupt all gang violence terrorizing our communities,” stated FBI Assistant Director in Charge Dennehy.

    “The defendants’ ruthless violence, in furtherance of the MS-13 gang, has no place in society and our communities,” said Special Agent in Charge William S. Walker. “Everyday, HSI New York and our law enforcement partners are utilizing every tool at our disposal to dismantle transnational gangs that jeopardize the safety of New Yorkers, as demonstrated with today’s announcement. No stone will be left unturned in our pursuit of justice on behalf of the victims slain by MS-13 gang members.”

    “These new charges highlight the NYPD’s relentless pursuit of individuals terrorizing our communities,” stated NYPD Interim Commissioner Donlon. “We and our law enforcement partners must continue to find and dismantle the gangs that fuel crime on our streets, and we must hold their members accountable for their senseless acts of violence. I express my gratitude to all of our federal, state, and local partners for their steadfast dedication to our shared public safety goal.”

    “We want to thank our partners in federal law enforcement, particularly the United States Attorney’s Office, for this collaborative effort to bring these violent and destructive criminals to justice,” stated Nassau County Police Commissioner Patrick Ryder.  “From our patrol officers on the street to the dedicated investigators in our Detective Division, the Nassau County Police Department is committed to fighting gang violence and rooting out those who bring destruction to our communities.”

    The U.S. Program

    As alleged in court filings, MS-13 is an extraordinarily violent street gang operating through “cliques” or chapters in Queens, Long Island and communities across the United States, as well as El Salvador, Honduras and other countries in the Americas and Europe.  The gang primarily makes money through drug trafficking and extortion, and is known for its gruesome murders of perceived gang rivals and gang members and associates who have violated the gang’s rules.  MS-13 has been responsible for dozens of murders in the Eastern District of New York alone.

    Since approximately 2021, virtually all MS-13 cliques in the United States have been united under a single hierarchy known as the “U.S. Program.”  The U.S. Program is led by a group of senior gang leaders, most of whom are incarcerated, known as “La Mesa” or “The Table.”  La Mesa, among other roles, allegedly authorizes and directs murders throughout the country, including in New York.  Prior to their arrests, Velasquez Larin and Diaz Amaya were allegedly two of the few members of La Mesa outside of prison — Velasquez Larin was living in Colorado and Diaz Amaya was living in Kansas — and were among the top leaders responsible for the gang’s operations on the East Coast.

    Murder of Kenny Reyes

    The superseding indictment adds charges for the 2016 murder in Uniondale, New York, of 18-year-old Kenny Reyes, who had recently come to the United States from Honduras.  As alleged in court filings, Fulton clique member Jose Espinoza Sanchez befriended Reyes and learned that he had been associated with the 18th Street gang, rivals of MS-13.  Velasquez Larin and Espinoza Sanchez plotted with other members of MS-13 in Nassau County to murder Reyes to increase their positions in the gang.  On May 23, 2016, Velasquez Larin, Espinoza Sanchez and two others lured Reyes to a wooded area to smoke marijuana, where they killed him with machetes and buried his body.  For years after the murder, Velasquez Larin bragged about their roles in the killing to other MS-13 members.

    Murder of Eric Monge

    The superseding indictment charges Velasquez Larin and Espinoza Sanchez for their roles in ordering the murder of Eric Monge, and Jose Guevara Aguilar, Jose Arevalo Iraheta and Erick Zavala Hernandez for their participation in the murder.  As alleged, in the early morning hours of September 6, 2020, Guevara Aguilar and fellow Fulton clique member Oscar Hernandez Baires shot and killed Monge while he was seated in the front passenger seat of his parked car near his home in Queens. Monge’s wife had just returned to the car after bringing their young children inside their residence when Hernandez Baires and Guevara Aguilar began shooting.  After the shooting, Guevara Aguilar and Hernandez Baires ran back to a car where Arevalo Iraheta and Zavala Hernandez were waiting to help them escape. As they fled to the car, Guevara Aguilar dropped his hat, which was later found to have his DNA on it.

    Murder of Oswaldo Gutierrez Medrano

    The superseding indictment also adds charges relating to the 2022 murder in Nassau County of 20-year-old Oswaldo Gutierrez Medrano, a member of the Sailors clique of MS-13.  As alleged, Velasquez Larin and Diaz Amaya ordered the murder of Gutierrez Medrano, and Diaz Amaya coordinated luring Gutierrez Medrano to meet other MS-13 members under the false pretense that he would be receiving a promotion within MS-13. In Nassau County, on February 13, 2022, Gutierrez Medrano allegedly met with those other members of MS-13, including defendants Arevalo Iraheta, Carlos Alvarado, Erick Galdamez Leon and Jose Mejia Hernandez, who allegedly killed him with machetes and knives, dismembered his body and buried him in a wooded area.

    The charges in the superseding indictment are allegations, and the defendants are presumed innocent unless and until proven guilty.

    This case was investigated as part of the ongoing efforts by the OCDETF, a partnership that brings together the combined expertise of federal, state and local law enforcement agencies.  The principal mission of the OCDETF program is to identify, disrupt and dismantle the most serious drug trafficking, weapons trafficking and money laundering organizations, and those primarily responsible for the nation’s illegal drug supply.

    Today’s charges are the latest in a series of federal prosecutions by the United States Attorney’s Office for the Eastern District of New York targeting members of the MS-13.  Since 2003, hundreds of MS-13 members, including dozens of clique leaders, have been convicted on federal felony charges in the Eastern District of New York.  A majority of those MS-13 members have been convicted on federal racketeering charges for participating in murders, attempted murders and assaults.  Since 2009, this Office has obtained indictments charging MS-13 members with carrying out more than 70 murders in the district and has convicted dozens of MS-13 leaders and members in connection with those murders.  These prosecutions are the product of investigations led by our law enforcement partners.

    The government’s case is being handled by the Office’s Organized Crime and Gangs Section. Assistant United States Attorneys Jonathan Siegel, Michael W. Gibaldi, Anna L. Karamigios and Sophia M. Suarez are in charge of the prosecution, with the assistance of Paralegal Specialist Eleanor Jaffe-Pachuilo.

    New Defendant:

    HUGO DIAZ AMAYA (also known as “21” and “Splinter”)
    Age:  36
    Kansas City, Kansas

    Defendants Previously Indicted:

    RAMIRO GUTIERREZ (also known as “Cara de Malo”)
    Age:  31
    Flushing, New York

    VICTOR LOPEZ (also known as “Curioso”)
    Age:  26
    Flushing, New York

    TITO MARTINEZ-ALVARENGA (also known as “Imprudente”)
    Age:  24
    Flushing, New York

    ISMAEL SANTOS-NOVOA (also known as “Profe” and “Travieso”)
    Age:  36
    Flushing, New York

    EDENILSON VELASQUEZ LARIN (also known as “Agresor,” “Saturno,” “Tiny,” “Erick” and “Paco”)
    Age:  35
    Thornton, Colorado

    CHRISTIAN ALAS LEON (also known as “Pata de Chucho”)
    Age:  26
    Westbury, New York

    CARLOS ALVARADO (also known as “Brayle” and “Danny”)
    Age:  21
    Westbury, New York

    JOSE AREVALO IRAHETA (also known as “Splinter,” “Inesperado” and “Daniel”)
    Age:  27
    Queens, New York

    JOSE ESPINOZA SANCHEZ (also known as “Cable,” “Bleca,” “Clave,” “Fantasma” and “Victor”)
    Age:  25
    Carrboro, North Carolina

    ERICK GALDAMEZ LEON (also known as “Truco,” “Burro,” and “Chicle”)
    Age:  24
    Westbury, New York

    JOSE GUEVARA AGUILAR (also known as “Tranquilo,” “Malhechor,” and “Angel”
    Age:  25
    Queens, New York

    KEILA HERNANDEZ MAY
    Age:  37
    Carrboro, North Carolina

    YONATHAN HERNANDEZ
    Age:  25
    Hempstead, New York

    JOSE MEJIA HERNANDEZ (also known as “Mismo” and “Timbre”)
    Age:  22
    Westbury, New York

    JOSE PEREZ OVANDO (also known as “Domino” and “Incompleto”)
    Age:  24
    Westbury, New York

    ERICK ZAVALA HERNANDEZ (also known as “Berry,” “Berro,” and “Alex”)
    Age:  26
    Queens, New York

    E.D.N.Y. Docket No. 20-CR-228 (S-3) (LDH)

    MIL Security OSI –

  • MIL-OSI Security: Owner and Senior Executive of New York Contracting Company Plead Guilty to Paying Kickbacks to Obtain Construction Contracts From a Fortune 500 Company

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

    Damian Williams, the United States Attorney for the Southern District of New York, announced that TROY CARUSO, the owner and chief executive officer of a commercial construction and contracting company headquartered in New York, New York (the “Contracting Company”), and JOHN NOLAN, a senior executive at the Contracting Company, pled guilty Friday, November 1, 2024, to conspiring to commit honest services wire fraud in connection with their scheme to pay kickbacks to a senior project manager at a Fortune 500 real estate services firm in order to obtain contracting work.  CARUSO and NOLAN pled guilty before U.S. District Judge Lewis J. Liman, who is scheduled to sentence CARUSO on February 12, 2025, and NOLAN on February 13, 2025.

    U.S. Attorney Damian Williams said: “Corruption has no place in our business landscape.  Troy Caruso and John Nolan sought to exploit the system for their own benefit, but today’s outcome shows that integrity will prevail.  This Office is dedicated to ensuring that the integrity of our contracting processes is upheld, and we will relentlessly pursue those who engage in such dishonest schemes.”

    According to the documents filed in this case, including the Indictment and the plea agreements of CARUSO and NOLAN, and statements made in Court: 

    From at least in or about February 2021, up to and including in or about September 2023, CARUSO and NOLAN agreed to pay, and did pay, kickbacks to an employee of a global and publicly traded commercial real estate services company (the “Real Estate Firm”) in exchange for assistance and preferential treatment so that the Contracting Company would be awarded projects managed by the Real Estate Firm (the “Kickback Scheme”).

    In or about March 2021, CARUSO and NOLAN were introduced by an individual (“CC-1”) to a senior project manager at the Real Estate Firm (“CC-2”).  CC-2 managed the process by which contracting companies bid for, and were awarded, contracts to work on construction projects for various of the Real Estate Firm’s clients. Beginning in or about March 2021, because of the Kickback Scheme, CC-2 took a series of actions CC-2 otherwise would not have taken to ensure that the Contracting Company was awarded a pre-construction contract and a construction contract relating to a certain project (“Project-1”), which was managed by the Real Estate Firm on behalf of its client, a health services business that provides hospital, medical, and other health services to patients.  For example, CC-2 ensured that the Contracting Company was on the Real Estate Firm’s “bid list” so that it could submit bids relating to Project-1 that it otherwise could not have submitted.  CC-2 also provided non-public information to CARUSO and NOLAN about the bidding process, and recommended the Contracting Company for both the pre-construction contract and the construction contract relating to Project-1.  As a result of the Kickback Scheme and CC-2’s actions, the Contracting Company was awarded the pre-construction and construction contracts for Project-1, the latter of which was valued at approximately $3.55 million (to be paid to the Contracting Company).

    In exchange for CC-2’s assistance and preferential treatment, CARUSO and NOLAN agreed to pay kickbacks to CC-2 in the amount of approximately one percent of the construction value of any project managed by the Real Estate Firm that resulted in a contract award to the Contracting Company.  Accordingly, CARUSO and NOLAN agreed to pay CC-2 approximately $35,500 for Project-1, and ultimately paid CC-2 approximately $33,000 in kickbacks for CC-2’s assistance on Project-1.  Most of these payments were made in cash at locations around New York City.  CARUSO and NOLAN also paid CC-1 approximately $15,000 for CC-1’s assistance in the Kickback Scheme, which included connecting CC-2 with CARUSO and NOLAN.

    CARUSO and NOLAN attempted to obtain additional contracts from the Real Estate Firm, with CC-2’s assistance as part of the Kickback Scheme.  Between in or about 2022 and in or about 2023, in exchange for CARUSO and NOLAN’s promise of payment for any contract awarded to the Contracting Company, CC-2 provided CARUSO and NOLAN with assistance relating to two additional construction projects managed by the Real Estate Firm that did not result in contract awards to the Contracting Company.

    *               *                *

    CARUSO, 57, of Smithtown, New York, and Ludlow, Vermont, and NOLAN, 43, of Brooklyn, New York, each pled guilty to one count of honest services wire fraud conspiracy, which carries a maximum sentence of 20 years in prison.

    The statutory maximum penalty is prescribed by Congress and is provided here for informational purposes only, as the defendants’ sentences will be determined by a judge. 

    Mr. Williams praised the outstanding investigative work of the Special Agents and the Task Force Officers of the U.S. Attorney’s Office for the Southern District of New York. Mr. Williams also thanked the Federal Bureau of Investigation for their assistance in the investigation. 

    This case is being handled by the Office’s Public Corruption Unit.  Assistant U.S. Attorney Jane Kim is in charge of the prosecution.

    MIL Security OSI –

  • MIL-OSI Security: Leader of International Stock Manipulation Ring Pleads Guilty

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

    Damian Williams, the United States Attorney for the Southern District of New York, announced today that RONALD BAUER pled guilty to conspiring to commit securities fraud in connection with his role in a long-running “pump-and-dump” stock manipulation scheme. BAUER pled guilty before U.S. District Judge Paul A. Engelmayer and is scheduled to be sentenced on May 20, 2025. 

    U.S. Attorney Damian Williams said: “For years, Ronald Bauer orchestrated a sprawling ‘pump-and-dump’ scheme involving the shares of numerous U.S.-based issuers that preyed on ordinary, retail investors.  While Bauer and his co-conspirators lived outside of the United States, they took advantage of the U.S. markets to perpetrate their fraud and reaped millions upon millions in profits at the expense of the victims. Today’s guilty plea should send a clear message that this Office is committed to holding market manipulators accountable no matter how hard they try to conceal their crimes.” 

    According to allegations in the Indictment, public filings, and statements made in court: 

    BAUER, a/k/a “Patek,” a citizen of Canada and the United Kingdom who resided in the United Kingdom, orchestrated numerous “pump-and-dump” schemes, controlling various aspects of the plans.  The Securities and Exchange Commission (“SEC”) had previously filed securities fraud claims against BAUER in 2005 for engaging in an alleged market manipulation scheme that was alleged to have issued false and misleading press releases while secretly dumping tens of millions of shares into the inflated market that BAUER and his associates had created.  In 2006, without admitting or denying the allegations, BAUER consented to the entry of a judgment against him providing for injunctive relief, barring BAUER from serving as an officer or director of a public company or participating in an offering of penny stock for a period of five years, and payment of disgorgement of $840,000.

    As he admitted in connection with his guilty plea, BAUER and his co-conspirators participated in a conspiracy to commit securities fraud with respect to seven issuers: Cantabio Pharmaceuticals Inc. (CTBO) (previously Lion Consulting Group (LIOC)); Virtus Oil and Gas Corp. (VOIL) (previously Curry Gold Corp. (CURGD)); Steampunk Wizards (SPWZ) (previously Freedom Petroleum (FPET)); Black Stallion Oil and Gas Inc. (BLKG) (previously Secure IT Corp.); PetroTerra Corp. (previously Loran Connection Corp (LRNC)); Black River Petroleum (BRPC) (previously American Copper Corp. (AMCU)); and Cyberfort Software Inc. (CYBF) (previously Patriot Berry Farms (PBFI)) (collectively, the “Issuers”).  

    To perpetrate the “pump-and-dump” scheme, BAUER and his co-conspirators obtained ownership and control of all or the vast majority of the unrestricted (i.e., free trading) stock of the Issuers.  BAUER and his co-conspirators sought to conceal their beneficial ownership of these controlling interests in the shares of the Issuers by causing their shares to be distributed to and divided amongst nominee entities that had been established by a Swiss corporation called Blacklight, S.A.  These entities were nominally owned by unrelated third parties but were, in fact, controlled by BAUER or his co-conspirators.  Thereafter, BAUER and his co-conspirators retained trading authority over the blocks of shares of the Issuers held by the Blacklight nominee entities and BAUER regularly provided trading instructions with respect to these shares to executives or employees at Blacklight.  In addition, BAUER and his co-conspirators effectively controlled or otherwise maintained significant influence over the management of the Issuers during the “pump-and-dump” scheme. 

    At times, BAUER and his co-conspirators caused nominees to engage in “match trades”—i.e., place both buy and sell orders in the same stock on the same day—for no legitimate economic purpose.  Furthermore, BAUER and his co-conspirators financed and coordinated promotional campaigns touting the Issuers to stoke trading interest in the Issuers’ stock, though without publicly disclosing their relationship to the promotional campaigns, their controlling interest, or their intent to sell a significant percentage of their holdings into the buying interest that they intended the promotional campaigns would generate.  BAUER and his co-conspirators took steps to conceal the fact that the nominee entities they controlled were the true funding source for the promotional campaigns. 

    During or shortly after the promotional campaigns, BAUER and his co-conspirators caused the Blacklight nominee entities to engage in trading activity in the Issuers’ stock, including selling a large percentage of their holdings of the Issuers’ stock, then caused the Blacklight nominee entities they controlled to remit to them the proceeds of the stock sales.

    *                *                *

    BAUER, 49, of London, United Kingdom, pled guilty to one count of conspiracy to commit securities fraud, which carries a maximum sentence of five years in prison.  As part of his guilty plea, a money judgment in the amount of $4,377,228.74 was entered against BAUER.

    The maximum potential sentence in this case is prescribed by Congress and provided here for informational purposes only, as any sentencing of the defendant will be determined by a judge.

    Mr. Williams praised the outstanding work of the Federal Bureau of Investigation.  He further thanked the Justice Department’s Office of International Affairs of the Department’s Criminal Division, as well as authorities in the United Kingdom, in particular the Crown Prosecution Service’s National Extradition Unit. Finally, Mr. Williams also thanked the Securities and Exchange Commission, which separately initiated civil proceedings against BAUER. 

    The case is being handled by the Office’s Securities and Commodities Fraud Task Force.  Assistant U.S. Attorneys Jason Richman, Matthew R. Shahabian, Noah Solowiejczyk, and Vladislav Vainberg are in charge of the prosecution.

    MIL Security OSI –

  • MIL-OSI Security: Defendant Pleads Guilty to Federal Kidnapping and Carjacking Charges

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

                WASHINGTON – David Zanders, 22, of Washington D.C., pleaded guilty today in U.S. District Court to one count of federal kidnapping and one count of carjacking, stemming from an incident on May 1, 2022, announced U.S. Attorney Matthew Graves; FBI Acting Special Agent in Charge David Geist, of the Washington Field Office’s Criminal and Cyber Division; and Chief Pamela Smith, of the Metropolitan Police Department.

                U.S. District Court Judge Royce C. Lamberth scheduled a sentencing hearing for March 4, 2024. The defendant was arrested on November 18, 2022, and has been detained ever since.

                According to the court documents, in the early morning hours of May 1, 2022, Zanders and a conspirator kidnapped two males outside of a nightclub located at 645 Florida Avenue, NW, Washington, D.C. The pair posed as an Uber and the two male victims subsequently got into the defendant’s vehicle. Shortly thereafter, Zanders pulled over on a neighborhood street in Washington, D.C., pointed a firearm at the two victims and robbed them of their phones and money. The victims were then driven around so the kidnappers could attempt to withdraw money using the victims’ credit cards. One of the victims was able to escape at a gas station in Washington D.C., when Zanders and the other suspect were looking for an ATM.  After the first victim escaped, the second victim was driven to a supermarket in Maryland. The defendant and his cohort then retrieved money from an ATM at the supermarket using the second victim’s ATM card. The second victim was then driven to another location in Maryland and released.

                That same evening, Zanders, his cohort and a third individual met at 955 Longfellow Street, NW, Washington, D.C. Zanders had arranged a meeting with two additional victims where he was purporting to sell his vehicle but was, in fact, going to take their vehicle. When the two victims arrived in their vehicle, a 2019 green Dodge Charger, Zanders pulled out a gun, threatened to shoot the third victim, and demanded his phone, money and keys. The additional suspects turned towards the fourth victim and demanded the car keys. The fourth victim complied and one of the suspects then drove away with the 2019 green Dodge Charger. Zanders and the additional suspect then drove away in their own vehicles and fled the scene.  

                Zanders faces a statutory maximum sentence of life in prison for kidnapping and 15 years for carjacking. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

                In announcing the plea, U.S. Attorney Graves, SAC Geist, and Chief Smith commended the MPD officers and FBI agents who collaborated on the investigation as members of MPD’s Violent Crime Suppression Unit and FBI’s Washington Field Office’s Violent Crimes Task Force. Valuable assistance was provided by the Prince George’s County Police Department.

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

    MIL Security OSI –

  • MIL-OSI Security: Romance Scammer Who Took U.S. Citizens Hostage in the Dominican Republic Sentenced to 25 Years in Prison

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

                WASHINGTON – Deivy Jose Rodriguez Delgado, 30, a Venezuelan national, was sentenced today in U.S. District Court for the District of Columbia to 25 years in federal prison for the 2022 armed hostage takings of three U.S. citizens in the Dominican Republic, announced U.S. Attorney Matthew M. Graves and FBI Special Agent in Charge Jeffrey B. Veltri of the Miami Field Office.

                On December 11, 2023, after a nearly two week trial, a jury convicted Delgado of one count of conspiracy to commit hostage taking and three counts of hostage taking. In addition to the prison sentence, U.S. District Court Chief Judge James E. Boasberg ordered Delgado to serve five years of supervised release. Following his release from prison, Delgado will be subject to deportation proceedings. 

                According to the government’s evidence, Delgado, also known as “Sebastian,” kidnapped three men in separate instances between July 5 and July 30, 2022. In each of the three hostage-takings, Delgado lured his victim online with the promise of a friendly “date” and picked the victim up in his car. After driving a short distance, Delgado suddenly stopped to let an accomplice into the backseat, at which point Delgado and his accomplice held the victim at knifepoint, physically restrained the victim, and demanded ransom for his release. Delgado ordered that the ransoms be paid to online banking accounts, including the same CashApp account.

                Each of the three victims was forced at knifepoint to call his friends and family and ask for money to secure his release. The victims were held in captivity by Delgado and his accomplice(s) for up to an hour and were only released after Delgado believed a ransom payment had been made by the victims’ friends and family. In all three hostage takings, the victims were also robbed of their personal belongings before being released on the streets of the Dominican Republic.

                Following multiple victim reports, Dominican authorities began an investigation in August 2022. Local law enforcement in the Dominican Republic traced a vehicle used in one of the hostage takings to Delgado and arrested him on Sept. 14, 2022. During a search of the vehicle, Dominican authorities found two serrated knifes like those used in the hostage takings.

                This case was investigated by the FBI’s Miami Field Office with valuable assistance provided by the Justice Department’s Office of International Affairs and the Dominican Republic’s Division Especial de Investigacion de Crimen Organizado Internacional (DECROI). The case was prosecuted by Assistant U.S. Attorneys John Korba and Jolie Zimmerman of the U.S. Attorney’s Office for the District of Columbia with assistance from paralegal Michael Watts. 

    ##

               Deivy Jose Rodriguez Delgado, 30, a Venezuelan national, used this image of himself to meet his victims on a social media dating application.

       

    During a search of the vehicle linked to Delgado, Dominican authorities found two serrated knifes like those used in the hostage takings.

    An image Delgado used on his social media app to lure victims.

    ##

    22cr0304

    MIL Security OSI –

  • MIL-OSI Security: El Dorado Convicted Sex Offender Indicted for Distribution of Child Pornography

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

    SACRAMENTO, Calif. — A federal grand jury returned a single-count indictment against Kevin Dail Meadors, 56, of El Dorado Hills, charging him with receipt of child pornography, U.S. Attorney Phillip A. Talbert announced.

    According to court documents, between July 1, 2023, and Dec. 9, 2023, Meadors knowingly received visual depictions of minors engaged in sexually explicit conduct. The indictment alleges that Meadors suffered a prior conviction for committing lewd and lascivious acts with a child under the age of 14, which affects the potential penalties he faces in this case.

    This case is the product of an investigation by the Federal Bureau of Investigation, El Dorado County District Attorney’s Office, and Sacramento Valley Hi-Tech Crimes Task Force. Special Assistant U.S. Attorney Nchekube Onyima and Assistant U.S. Attorney Shea J. Kenny are prosecuting the case.

    If convicted, Meadors faces a mandatory minimum penalty of 15 years in prison, a maximum statutory penalty of 40 years in prison, and a $250,000 fine. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables. The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

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

    MIL Security OSI –

  • MIL-OSI Security: Guatemalan National Pleads Guilty to Heroin and Methamphetamine Delivery to Fresno

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

    FRESNO, Calif. — Donis Ariel Maldonado, 28, a Guatemalan national residing in El Monte, pleaded guilty today to conspiring to distribute and possess with intent to distribute heroin and methamphetamine, U.S. Attorney Phillip A. Talbert announced.

    According to court documents, Maldonado agreed with other members of the conspiracy to distribute 22 pounds of heroin and over 80 pounds of methamphetamine sourced from Mexico.  On June 24, 2019, Maldonado delivered the drugs to an informant in Fresno.

    This case is the product of an investigation by the Federal Bureau of Investigation, the Drug Enforcement Administration, the Fresno County Sheriff’s Office, and the High Impact Investigation Team (HIIT), a High Intensity Drug Trafficking Area Initiative (HIDTA), which consists of personnel from the California Department of Justice, Fresno Police Department, Fresno County Sheriff’s Office, Fresno County District Attorney’s Office, California Highway Patrol, Madera County Sheriff’s Office, Tulare County Sheriff’s Office, Kings County Sheriff’s Office, and the California Department of Corrections and Rehabilitation. Assistant U.S. Attorney Karen Escobar is prosecuting the case.

    Maldonado is scheduled to be sentenced by U.S. District Judge Jennifer L. Thurston on Feb. 18, 2025. Maldonado faces a maximum statutory penalty of 20 years in prison and a $2 million fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

    The case 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. For more information about Organized Crime Drug Enforcement Task Forces, please visit Justice.gov/OCDETF. 

    MIL Security OSI –

  • MIL-OSI Security: Jacksonville Medical Records Technician Sentenced to 35 Years for Sexually Exploiting Numerous Children Online

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

    Jacksonville, Florida – Chief United States District Judge Timothy J. Corrigan has sentenced Arin Caleb Ellis (27, Jacksonville) to 35 years in federal prison for producing and distributing videos depicting children being sexually abused. Ellis was also ordered to serve a lifetime term of supervised release and to register as a sex offender. Ellis was arrested on August 29, 2022, and has been in federal custody since that date. On February 28, 2024, Ellis pleaded guilty to persuading and coercing a child to engage in producing visual depictions of sexually explicit conduct and to distributing a video depicting a child being sexually abused. 

    According to court documents, from January 2018 through August 29, 2022, Ellis was an active member of several online groups on social media applications (apps) dedicated to the sexual exploitation of children and the sharing of child sexual abuse materials. Ellis and other members of these groups conspired and worked together to locate and sexually exploit minors across a variety of online social media platforms. During online text conversations, Ellis and other members discussed and strategized on how to pressure and coerce targeted children into producing sexually explicit photos and videos and engaging in sexually explicit conduct live on social media apps. Ellis and the other members also exchanged information about the identity of children who had an online presence, such as the minors’ names, ages, locations, and online user identifiers. Ellis told other group members that he preferred targeting female children who were 8 to 11 years old. Posing as minor children, Ellis and the other members persuaded and coerced the targeted children to engage in sexually explicit conduct and to live-stream the conduct that Ellis and his co-conspirators would covertly record. When Ellis and the other members obtained the sexually explicit recordings, they shared these materials through online group chats and other cloud-based file storage apps and websites.

    Ellis developed and used certain recording tools to capture live-streaming content over the internet that depicted the targeted children engaging in sexual acts. These tools allowed Ellis to simultaneously record multiple streaming video feeds from different children, and he shared these tools with other members for their use. Ellis used a variety of social media apps to communicate with the targeted minors across the United States and portrayed himself as a 10 or 11-year-old female child named “nova” from Florida. Ellis initially sent the targeted child sexually explicit photos and videos depicting an actual minor female that he was pretending to be and asked the child to be his “girlfriend.” After gaining some measure of trust, he then asked the child to send him sexually explicit photos and videos and recorded the child as she live-streamed sexually explicit conduct at his direction. Ellis also threatened some of the targeted children who refused to provide him with sexually explicit materials. 

    Ellis and the other group members also collaborated to hack into baby monitors, “nanny” cameras, and other internet-enabled cameras within private residences. The co-conspirators periodically provided Ellis with internal protocol addresses, which he developed his own computer code to remotely hack into these devices, allowing him to capture streaming video from compromised baby monitors.

    During this investigation, the FBI executed multiple search warrants and seized the contents of the accounts used by Ellis and other group members. That content, combined with the evidence recovered from Ellis’ electronic devices, revealed that Ellis potentially targeted thousands of minor children for online sexual exploitation.

    On August 29, 2022, law enforcement executed a federal search warrant at Ellis’ residence and seized his computers and electronic devices, several of which were encrypted. Forensic examination of one of Ellis’ cellphones revealed that he used a particular online app to send two videos of child sexual abuse to a co-conspirator just hours before FBI agents arrived at his residence. In total, the FBI recovered at least 1,700 photos and 700 videos depicting children engaging in sexually explicit conduct that Ellis maintained on his electronic devices and in his online social media accounts. Many of these materials depict young children, some as young as 6 years old. 

    Roger B. Handberg, United States Attorney for the Middle District of Florida, Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division, Assistant Director B. Chad Yarbrough of the FBI’s Criminal Investigative Division, and Special Agent in Charge Kristin Rehler of the FBI Jacksonville Field Office, made this announcement. 

    This case was investigated by the FBI Child Exploitation Operational Unit in Linthicum, Maryland, and the FBI Jacksonville Field Office, with assistance from the Jacksonville Sheriff’s Office. Assistant United States Attorney D. Rodney Brown for the Middle District of Florida, and Trial Attorneys Kaylynn Foulon and McKenzie Hightower of the DOJ Criminal Division’s Child Exploitation and Obscenity Section prosecuted the case.

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

    MIL Security OSI –

  • MIL-OSI: FLINT Announces Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Nov. 05, 2024 (GLOBE NEWSWIRE) — FLINT Corp. (“FLINT” or the “Company”) (TSX: FLNT) today announced its results for the three and nine months ended September 30, 2024. All amounts are in Canadian dollars and expressed in thousands of dollars unless otherwise noted.

    “EBITDAS” and “Adjusted EBITDAS” are not standard measures under IFRS. Please refer to the Advisory regarding Non-GAAP Financial Measures at the end of this press release for a description of these items and limitations of their use.

    “In the third quarter, we reached record levels of activity with $211.6 million in revenue and successfully executed 13 turnarounds. Adjusted EBITDAS rose by 24.4% year over year. Our dedication to client-centric service and on-time, on-budget contract execution will continue to drive our growth” said Barry Card, Chief Executive Officer.

    “We successfully onboarded over 850 new employees in the third quarter, reaching a workforce high of 4,450 in September. Over 2 million exposure hours were worked throughout the quarter without a single recordable incident, showcasing our commitment to safety as it is an integral part of how we deliver services to our clients daily,” added Mr. Card.

    THIRD QUARTER HIGHLIGHTS

    • Revenue for the three months ended September 30, 2024 was $211.6 million, representing an increase of $24.6 million or 13.1% from the same period in 2023 and an increase of $46.7 million or 28.3% from the second quarter of 2024.
    • Gross profit for the three months ended September 30, 2024 was $23.8 million, representing an increase of $4.0 million or 20.3% from the same period in 2023 and an increase of $5.8 million or 32.1% from the second quarter of 2024.
    • Gross profit margin for the three months ended September 30, 2024 was 11.2%, as compared to 10.6% in the same period in 2023 and 10.9% in the second quarter of 2024.
    • Adjusted EBITDAS for the three months ended September 30, 2024 was $13.4 million, representing an increase of $2.6 million or 24.4% from the same period in 2023 and an increase of $5.1 million or 61.7% from the second quarter of 2024.
    • Adjusted EBITDAS margin was 6.3% for the three months ended September 30, 2024 representing an increase of 0.5% from the same period in 2023 and an increase of 1.3% from the second quarter of 2024.
    • Selling, general and administrative (“SG&A”) expenses for the three months ended September 30, 2024 were $10.9 million, representing an increase of $1.9 million or 20.9% from the same period in 2023 and an increase of $0.8 million or 7.4% from the second quarter of 2024. As a percentage of revenue, SG&A expenses for the three months ended September 30, 2024 was 5.2%, as compared to 4.8% in the same period in 2023 and 6.2% in the second quarter of 2024.
    • Liquidity, including cash and available credit facilities, was $48.6 million at September 30, 2024, as compared to $34.4 million at September 30, 2023.
    • New contract awards and renewals totaled approximately $67.4 million for the three months ended September 30, 2024 and $18.3 million for the month of October. Approximately 85% of the work is expected to be completed in 2024.

    THIRD QUARTER FINANCIAL RESULTS

    ($ thousands, except per share amounts) Three months ended September 30, Nine months ended September 30,
    2024 2023 % Change 2024 2023 % Change
                 
    Revenue ($) 211,594 187,017 13.1 522,779 506,063 3.3
                 
    Gross Profit ($) 23,757 19,740 20.3 54,745 50,368 8.7
    Gross Profit Margin (%) 11.2 10.6 0.6 10.5 10.0 0.5
                 
    Adjusted EBITDAS(1) 13,433 10,796 24.4 24,926 24,134 3.3
    Adjusted EBITDAS Margin (%) 6.3 5.8 0.5 4.8 4.8 —
                 
    SG&A ($) 10,934 9,045 20.9 31,171 26,785 16.4
    SG&A Margin (%) 5.2 4.8 0.4 6.0 5.3 0.7
                 
    Net income (loss) from continuing operations ($) 5,305 2,789 90.2 (69) (12,639) (99.5)
    Net income (loss) ($) 5,233 2,786 87.8 (385) (12,646) (97.0)
                 
    Basic and Diluted:            
    Net income (loss) per share from continuing operations ($) 0.05 0.03 66.7 — (0.11) (100.0)
    Net income (loss) per share ($) 0.05 0.03 66.7 — (0.11) (100.0)
                 

    (1) EBITDAS and Adjusted EBITDAS are not standard measures under IFRS and they are defined in the section “Advisory regarding Non-GAAP Financial Measures”

    Revenue for the three and nine months ended September 30, 2024 was $211,594 and $522,779 compared to $187,017 and $506,063 for the same periods in 2023, representing an increase of 13.1% and 3.3%. The increase in revenue was primarily due to the 13 turnarounds that were performed in the third quarter this year, compared to 6 turnarounds that were performed in the same period of 2023.

    Gross profit for the three and nine months ended September 30, 2024 was $23,757 and $54,745 compared to $19,740 and $50,368 for the same periods in 2023, representing an increase of 20.3% and 8.7%. Gross profit margin for three and nine months ended September 30, 2024 was 11.2% and 10.5%, compared to 10.6% and 10.0% to for the same periods in 2023. The increase in gross profit margin was primarily due to the mix of work compared to the same period of 2023.

    SG&A expenses for the three and nine months ended September 30, 2024 were $10,934 and $31,171, in comparison to $9,045 and $26,785 for the same periods in 2023, representing an increase of 20.9% and 16.4%. As a percentage of revenue, SG&A expenses for the three and nine months ended September 30, 2024 were 5.2% and 6.0% compared to 4.8% and 5.3% for the same periods in 2023. The increase in SG&A expenses, both on an absolute basis and as a percentage of revenue, is primarily due to higher personnel costs to support the Company’s organic growth strategy and increased professional fees to assist in the ongoing continuous improvements in the business post the implementation of the Company’s enterprise resource planning system.

    For the three and nine months ended September 30, 2024, Adjusted EBITDAS was $13,433 and $24,926 compared to $10,796 and $24,134 for the same periods in 2023. As a percentage of revenue, Adjusted EBITDAS was 6.3% and 4.8% for the three and nine months ended September 30, 2024 compared to 5.8% and 4.8% for the same periods in 2023.

    Income from continuing operations for the three months ended September 30, 2024 was $5,305 compared to $2,789 for the same period in 2023. The income variance was primarily driven by the increase in turnaround activity partially offset by higher SG&A expenses. Loss from continuing operations for the nine months ended September 30, 2024 was $69 compared to $12,639 for the same period in 2023. The loss variance was driven by the impairment of intangible assets, goodwill and PP&E recognized in the second quarter of 2023.

    LIQUIDITY AND CAPITAL RESOURCES

    FLINT has an asset-based revolving credit facility (the “ABL Facility”) providing for maximum borrowings of up to $50.0 million with a Canadian chartered bank. The amount available under the ABL Facility will vary from time to time based on the borrowing base determined with reference to the accounts receivable of FLINT and certain of its subsidiaries. The maturity date of the ABL Facility is April 14, 2027.

    The Company anticipates that its liquidity (cash on hand and available credit facilities) and cash flow from operations will be sufficient to meet its short-term contractual obligations. To maintain compliance with its financial covenants through September 30, 2025, the Company has the ability to pay interest on the Senior Secured Debentures in kind, which requires approval by the holder of the Senior Secured Debentures at its sole discretion

    As at September 30, 2024, the issued and outstanding share capital included 110,001,239 Common Shares, 127,732 Series 1 Preferred Shares, and 40,111 Series 2 Preferred Shares.

    The Series 1 Preferred Shares (having an aggregate value of $127.732 million) are convertible at the option of the holder into Common Shares at a price of $0.35/share and the Series 2 Preferred Shares (having an aggregate value of $40.111 million) are convertible into Common Shares at a price of $0.10/share.

    The Series 1 and Series 2 Preferred Shares have a 10% fixed cumulative preferential cash dividend payable when the Company has sufficient monies to be able to do so, including under the provisions of applicable law and contracts affecting the Company. The Board of Directors of the Company does not intend to declare or pay any cash dividends until the Company’s balance sheet and liquidity position supports the payment. As at September 30, 2024, the accrued and unpaid dividends on the Series 1 and Series 2 shares totaled $106.0 million. Any accrued and unpaid dividends are convertible in certain circumstances at the option of the holder into additional Series 1 and Series 2 Preferred Shares.

    On June 30, 2024, Canso, in its capacity as portfolio manager for and on behalf of certain accounts that it manages and sole holder of the Senior Secured Debentures, agreed to accept the issuance of Senior Secured Debentures on June 30, 2024 with a principal amount of $5,205 in order to satisfy the interest that would otherwise become due and payable on such date.

    ADDITIONAL INFORMATION

    Our unaudited condensed interim financial statements for the three and nine months ended September 30, 2024 and the related Management’s Discussion and Analysis of the operating and financial results can be accessed on our website at www.flintcorp.com and will be available shortly through SEDAR at www.sedarplus.ca.

    About FLINT Corp.

    With a legacy of excellence and experience stretching back more than 100 years, FLINT provides solutions for the Energy and Industrial markets including: Oil & Gas (upstream, midstream and downstream), Petrochemical, Mining, Power, Agriculture, Forestry, Infrastructure and Water Treatment. With offices strategically located across Canada and a dedicated workforce, we provide maintenance, construction, wear technology and environmental services that help our customers bring their resources to our world. For more information about FLINT, please visit www.flintcorp.com or contact:

    Barry Card Jennifer Stubbs
    Chief Executive Officer Chief Financial Officer
    FLINT Corp. FLINT Corp.
    (587) 318-0997  
    investorrelations@flintcorp.com  
       

    Advisory regarding Forward-Looking Information

    Certain information included in this press release may constitute “forward-looking information” within the meaning of Canadian securities laws. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue” or the negative of these terms or other similar expressions concerning matters that are not historical facts. Specifically, this press release contains forward-looking information relating to: our business plans, strategies and objectives; the sufficiency of our liquidity and cash flow from operations to meet our short-term contractual obligations and maintain compliance with our financial covenants through to September 30, 2025; the payment of interest owing on the Senior Secured Debentures in kind; the Company’s approach to dividends; our view that dedication to client-centric service and on-time, on-budget contract execution will continue to drive our growth; and the amount of work that is expected to be completed in 2024.

    Forward-looking information involves significant risks and uncertainties. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking information including, but not limited to, compliance with debt covenants, access to credit facilities and other sources of capital for working capital requirements and capital expenditure needs, availability of labour, dependence on key personnel, economic conditions, commodity prices, interest rates, regulatory change, weather and risks related to the integration of acquired businesses. These factors should not be considered exhaustive. Risks and uncertainties about FLINT’s business are more fully discussed in FLINT’s disclosure materials, including its annual information form and management’s discussion and analysis of the operating and financial results, filed with the securities regulatory authorities in Canada and available on SEDAR+ at www.sedarplus.ca. In formulating the forward-looking information, management has assumed that business and economic conditions affecting FLINT will continue substantially in the ordinary course, including, without limitation, with respect to general levels of economic activity, regulations, taxes and interest rates. Although the forward-looking information is based on what management of FLINT consider to be reasonable assumptions based on information currently available to it, there can be no assurance that actual events or results will be consistent with this forward-looking information, and management’s assumptions may prove to be incorrect.

    This forward-looking information is made as of the date of this press release, and FLINT does not assume any obligation to update or revise it to reflect new events or circumstances except as required by law. Undue reliance should not be placed on forward-looking information. Forward-looking information is provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

    Advisory regarding Non-GAAP Financial Measures

    The terms ‘‘EBITDAS’’ and “Adjusted EBITDAS” (collectively, the ‘‘Non-GAAP Financial Measures’’) are financial measures used in this press release that are not standard measures under IFRS. FLINT’s method of calculating the Non-GAAP Financial Measures may differ from the methods used by other issuers. Therefore, the Non-GAAP Financial Measures, as presented, may not be comparable to similar measures presented by other issuers.

    EBITDAS refers to income (loss) from continuing operations in accordance with IFRS, before depreciation and amortization, interest expense, income tax expense (recovery) and long-term incentive plan expenses. EBITDAS is used by management and the directors of FLINT as well as many investors to determine the ability of an issuer to generate cash from operations. Management believes that in addition to income (loss) from continuing operations and cash provided by operating activities, EBITDAS is a useful supplemental measure from which to determine FLINT’s ability to generate cash available for debt service, working capital, capital expenditures and income taxes. FLINT has provided a reconciliation of income (loss) from continuing operations to EBITDAS below.

    Adjusted EBITDAS refers to EBITDAS excluding impairment of assets, restructuring expense, gain on sale of property, plant and equipment, other income and one time incurred expenses. FLINT has used Adjusted EBITDAS as the basis for the analysis of its past operating financial performance. Adjusted EBITDAS is a measure that management believes (i) is a useful supplemental measure from which to determine FLINT’s ability to generate cash available for debt service, working capital, capital expenditures, and income taxes, and (ii) facilitates the comparability of the results of historical periods and the analysis of its operating financial performance which may be useful to investors. FLINT has provided a reconciliation of income (loss) from continuing operations to Adjusted EBITDAS below.

    Investors are cautioned that the Non-GAAP Financial Measures are not alternatives to measures under IFRS and should not, on their own, be construed as an indicator of performance or cash flows, a measure of liquidity or as a measure of actual return on the shares. These Non-GAAP Financial Measures should only be used with reference to FLINT’s consolidated interim and annual financial statements, which are available on SEDAR+ at www.sedarplus.ca or on FLINT’s website at www.flintcorp.com.

    (In thousands of Canadian dollars) Three months ended September 30, Nine months ended September 30,
    2024 2023 2024 2023
             
    Income (loss) from continuing operations 5,305 2,789 (69) (12,639)
    Add:        
    Amortization of intangible assets 66 70 201 332
    Depreciation expense 2,671 2,434 8,003 7,610
    Long-term incentive plan expense 850 625 2,225 2,670
    Interest expense 4,718 4,670 14,033 13,680
    EBITDAS 13,610 10,588 24,393 11,653
    Add (deduct):        
    Gain on sale of property, plant and equipment (810) (133) (1,253) (323)
    Impairment of goodwill and intangible assets — — — 7,289
    Impairment of property, plant and equipment — — — 4,173
    Restructuring expenses 334 327 1,310 1,105
    Other income (47) (32) (468) (142)
    One-time incurred expenses 346 46 944 379
    Adjusted EBITDAS 13,433 10,796 24,926 24,134

    The MIL Network –

  • MIL-OSI Security: Domestic Violence Offender Indicted For Illegally Trying To Buy Firearms

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

    Jacksonville, FL – United States Attorney Roger B. Handberg announces the return of an indictment charging Vance Perry (67, Palatka) with making a false statement to a federally licensed firearms dealer during the attempted purchase of a firearm on two separate occasions. If convicted, Perry faces up to five years in federal prison. 

    According to the indictment, on February 18, 2023, Perry completed an ATF Form 4473 during the attempted purchase of a firearm from a federally licensed firearms dealer. On March 25, 2024, Perry tried to buy a different gun from another federally licensed firearms dealer. Perry indicated on the required paperwork that he was not convicted of a domestic violence offense. The indictment alleges that this was a false statement, and that Perry was previously convicted of domestic battery on December 28, 2021.

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

    This is another case uncovered through the FBI’s National Instant Criminal Background Check System (NICS). All NICS denials are reported to federal law enforcement and are reviewed daily for potential criminal prosecution. Federal law makes it a felony offense to make a false statement to a firearms dealer when trying to buy a gun.   

    This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives. It is being prosecuted by Assistant United States Attorney Frank Talbot. 

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

    MIL Security OSI –

  • MIL-OSI: Main Street Financial Services Corp. Announces Earnings for Third Quarter of 2024

    Source: GlobeNewswire (MIL-OSI)

    Business Highlights

    • Financial results reflect a full quarter following the completed merger of Main Street Financial Services Corp. (Main Street) and Wayne Savings Bancshares, Inc. (Wayne) on May 31, 2024.
    • Net income for the third quarter of 2024 totaled $3.4 million, or $0.44 per common share
    • Annualized deposit growth of 7.8% for the quarter ended September 30, 2024
    • Annualized loan growth of 4.6% for the quarter ended September 30, 2024
    • Announced implementation of Dividend Reinvestment Plan for shareholders on October 3, 2024
    • Declared cash dividend of $0.14 per share on October 11, 2024

    WOOSTER, Ohio, Nov. 05, 2024 (GLOBE NEWSWIRE) — Main Street Financial Services Corp. (OTCQX: MSWV), (the “Company”), the holding company parent of Main Street Bank Corp. reported a net income of $3.4 million, or $0.44 per common share, for the three months ended September 30, 2024. Excluding the merger-related expenses (non-GAAP) for the three months ended September 30, 2024, net income was $3.6 million, or $0.46 per share. Merger-related expenses totaled $0.2 million for the quarter, consisting of legal and professional services.

    The Company announced a merger of equals transaction with Wayne Savings Bancshares, Inc. (“Legacy Wayne”) on February 23, 2023. On May 31, 2024 (the “Merger Date”), the Company completed the transaction, forming a financial holding company with assets of $1.4 billion. On the Merger Date, Legacy Wayne merged with and into Main Street, with Main Street surviving the merger (the “Merger”). Immediately following the Merger, Main Street’s wholly owned bank subsidiary, Main Street Bank Corp., merged with and into Wayne Savings Community Bank, with Wayne Savings Community Bank surviving the merger. Upon completion of the Merger, Wayne Savings Community Bank was renamed Main Street Bank Corp.

    The Merger was accounted for as a reverse merger using the acquisition method of accounting, therefore, Legacy Wayne was deemed the acquirer for financial reporting purposes, even though Main Street was the legal acquirer. Accordingly, Legacy Wayne’s historical financial statements are the historical financial statements of the combined company for all periods before the Merger Date. Our consolidated statements of income for the quarters ended June 30, 2024 and September 30, 2024, include the results from Main Street on and after May 31, 2024. Results for periods before May 31, 2024, reflect only those of Legacy Wayne and do not include the consolidated statements of income of Main Street. Accordingly, comparisons of our results for the quarter ended September 30, 2024, with those of prior periods may not be meaningful. The number of shares issued and outstanding, earnings per share, dividends paid and all references to share quantities of Main Street have been retrospectively adjusted to reflect the equivalent number of shares issued in the Merger.

    The return on average equity and return on average assets for the third quarter of 2024 was 12.58% and 1.00%, compared to 14.41% and 0.91%, for the third quarter of 2023. Excluding merger-related expenses (non-GAAP), return on average equity and return on average assets for the quarter ended September 30, 2024, was 13.21% and 1.05%, respectively.

    President and CEO James R. VanSickle commented “2024 has been the most transformational year in the 125-year history of our bank. The successful merger of Main Street and Wayne has provided long-term value for our shareholders and benefits for our customers, communities and employees. We are pleased with our growth in loans and deposits and our solid earnings during our first full quarter of operations ended on September 30, 2024. We remain optimistic about the increased capabilities, scale and profitability of our combined organization.”

    Third Quarter 2024 Financial Results

    Net interest income was $10.7 million for the quarter ended September 30, 2024, an increase of 97.6% from $5.4 million for the quarter ended September 30, 2023. The net interest margin of 3.28% for the third quarter of 2024 increased 40 basis points from 2.88% for the third quarter of 2023. Loan yields were 6.17% for the quarter ended September 30, 2024, an increase of 99 basis points when compared to 5.18% for the quarter ended September 30, 2023. Investment yields increased 111 basis points to 3.45% as of September 30, 2024 when compared to the quarter ended September 30, 2023. The cost of funds for the third quarter of 2024, was 2.64%, an increase of 102 basis points when compared to the third quarter of 2023. The cost of funds increase is largely due to utilizing higher-cost wholesale funding, such as FHLB advances, and shifting deposit composition to higher-yielding product offerings. The cost of total deposits was 2.29% for the quarter ended September 30, 2024, a 90 basis point increase when compared to 1.39% for the quarter ended September 30, 2023. The cost of borrowings for the quarter ended September 30, 2024 totaled 5.45%, an increase of 25 basis points when compared to the quarter ended September 30, 2023.

    A provision for credit losses and unfunded commitments of $109,000 was recorded for the quarter ended September 30, 2024. During the quarter, the Company recognized 86,000 in charge-offs and $36,000 in recoveries, reflecting relatively stable asset quality.

    Noninterest income totaled $1.6 million for the quarter ended September 30, 2024. The Company elected to sell approximately $15 million of the acquired securities portfolio during the quarter, recognizing a gain on sale of investments totaling $702,000.

    Noninterest expense totaled $7.9 million for the quarter ended September 30, 2024, an increase of $4.1 million when compared to the quarter ended September 30, 2023. The increase reflects a full quarter of combined expenses after completion of the merger. Merger-related noninterest expenses (non-GAAP) totaled $0.2 million for the quarter, consisting of legal and professional services. Excluding merger-related expenses (non-GAAP), the Company’s efficiency ratio was 62.9% for the quarter ended September 30, 2024, compared to 58.2% for the quarter ended September 30, 2023.

    September 30, 2024 Financial Condition

    At September 30, 2024, the Company had total assets of $1.39 billion with net loan balances totaling $1.11 billion. Net loans receivable increased by $12.6 million during the third quarter of 2024, or 4.6% annualized, primarily in the commercial loan portfolio. As part of the merger, the Company acquired $430.8 million in loans.

    The allowance for credit losses was $11.8 million at September 30, 2024, compared to $7.3 million at December 31, 2023. The increase is a result of establishing an allowance for credit losses on the acquired non-PCD loan portfolio during the second quarter of 2024. The allowance for credit losses as a percent of total loans was 1.04%, compared to 1.09% as of December 31, 2023. The allowance for credit losses and the related provision for credit losses is based on management’s judgment and evaluation of the loan portfolio. Management believes the current allowance for credit losses is adequate, however, changing economic and other conditions may require future adjustments to the allowance for credit losses.

    Total nonperforming loans (NPLs) was $5.4 million at September 30, 2024, an increase from $0.4 million at December 31, 2023. The NPL to net loan receivable ratio was 0.48% as of September 30, 2024. Past due loan balances of 30 days and more increased from $2.8 million at December 31, 2023, to $13.2 million, or 1.18% of net loans outstanding, at September 30, 2024. The increase in nonperforming and past due loans is due to the impact of the acquired loan portfolio.

    Improvement in Asset Quality Since Merger Announcement: The combined level of classified loans and loans past due 30 or more days was $24.4 million and $19.1 as of December 31, 2022. Since the merger announcement on February 23, 2023, the management teams of both Main Street and Wayne invested a great deal of time ensuring our combined organization utilizes strong underwriting standards and proactively monitors credit quality. Main Street sold approximately $15.2 million of loans in August 2023 and April 2024, of which approximately $12.7 million were classified loans. As of September 30, 2024, the resultant Company has $14.6 of classified loans and $13.2 of loans past due 30 or more days.

    Total liabilities increased to $1.28 billion at September 30, 2024 with deposits totaling $1.10 billion and FHLB advances totaling $140.0 million. Deposits grew by $21.2 million, or 7.8% annualized, during the third quarter of 2024. As part of the merger, the Company acquired $487.4 million in deposits. As of September 30, 2024, the Company held no brokered deposits compared to $116.7 million at December 31, 2024. The Company leverages FHLB advances for short-term funding needs due to their accessibility and alignment with prevailing market rates. As of September 30, 2024, the Company held $140.0 million in FHLB advances.

    Total stockholders’ equity was $111.3 million at September 30, 2024, an increase of $58.4 million when compared to the December 31, 2023 balance. The increase was primarily driven by the merger between Main Street and Wayne. Total stockholders’ equity increased during the third quarter of 2024 by $5.3 million, primarily from net income of $3.4 million and an increase in accumulated other comprehensive income benefit of $2.8 million, partially offset by dividends of $1.1 million.

    Main Street Financial Services Corp. is a holding company headquartered in Wooster, Ohio. Its primary subsidiary, Main Street Bank Corp. was founded in 1899 and provides full-service banking, commercial lending, and mortgage services across its branch infrastructure. Today, Main Street Bank Corp. operates 19 branch locations in Wooster, Ohio, Wheeling, West Virginia and other surrounding communities in Ohio and West Virginia. Additional information about Main Street Bank Corp. is available at www.mymainstreetbank.bank.

    Non-GAAP Disclosure
    This press release includes disclosures of the Company’s return on average equity, return on average assets, net income, and efficiency ratios which are excluding costs related to merger activities which are financial measures not prepared in accordance with generally accepted accounting principles in the United States (GAAP). A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flow that excludes or includes amounts that are required to be disclosed by GAAP. The Company believes that these non-GAAP financial measures provide both management and investors a more complete understanding of the underlying operational results and trends and the Company’s marketplace performance. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with GAAP.

    Forward-Looking–Statements
    This release contains forward-looking statements that are not historical facts and that are intended to be “forward-looking statements” as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but are not limited to, statements about the Company’s plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts and pertain to the Company’s future operating results. When used in this release, the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions are generally intended to identify forward-looking statements. Actual results may differ materially from the results discussed in these forward-looking statements, because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. These include but are not limited to: the possibility of adverse economic developments that may, among other things, increase default and delinquency risks in the Company’s loan portfolios; shifts in interest rates; shifts in the rate of inflation; shifts in the demand for the Company’s loan and other products; unforeseen increases in costs and expenses; lower-than-expected revenue or cost savings in connection with acquisitions; changes in accounting policies; changes in the monetary and fiscal policies of the federal government; and changes in laws, regulations and the competitive environment. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact Information:
    Matthew Hartzler
    Senior Vice President, Chief Financial Officer
    (330) 264-5767

     
    MAIN STREET FINANCIAL SERVICES CORP.
    Condensed Consolidated Balance Sheets
    (Dollars in thousands, except share data – unaudited)
      September 30, 2024   December 31, 2023
    ASSETS      
           
    Cash and cash equivalents $ 40,654     $ 20,884  
    Securities, net (1)   152,915       86,405  
    Loans held for sale   –       –  
    Loans receivable, net   1,118,781       669,603  
    Federal Home Loan Bank stock   7,420       3,959  
    Premises & equipment, net   11,119       4,904  
    Bank-owned life insurance   22,013       11,706  
    Other assets   40,351       12,486  
    TOTAL ASSETS $ 1,393,252     $ 809,947  
           
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
           
    Deposit accounts $ 1,101,999     $ 693,126  
    Other short-term borrowings   25,715       8,743  
    Federal Home Loan Bank advances   140,000       47,000  
    Accrued interest payable and other liabilities   14,218       8,111  
    TOTAL LIABILITIES   1,281,932       756,980  
           
           
    Common stock (7,801,011 shares of $1.00 par value issued)   7,801       398  
    Additional paid-in capital   55,640       36,715  
    Retained earnings   54,133       55,342  
    Treasury Stock, at cost – 0 shares and 1,777,824 shares at      
    September 30, 2024 and December 31, 2023, respectively.   –       (30,330 )
    Accumulated other comprehensive loss   (6,254 )     (9,158 )
    TOTAL STOCKHOLDERS’ EQUITY   111,320       52,967  
           
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,393,252     $ 809,947  
           
    (1) Includes available-for-sale and held-to-maturity classifications.
    Note: The December 31, 2023 Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of that date.
           
     
    MAIN STREET FINANCIAL SERVICES CORP.
    Condensed Consolidated Statements of Income
    (Dollars in thousands, except share data – unaudited)
                   
                   
      Three Months Ended   Nine Months Ended
      September 30,   September 30,
        2024     2023     2024     2023
                   
    Interest income $ 18,930   $ 9,078   $ 41,196   $ 25,550
    Interest expense   8,308     3,673     19,134     8,590
    Net interest income   10,622     5,405     22,062     16,960
    Provision for credit losses   109     138     4,703     526
    Net interest income after provision for credit losses   10,513     5,267     17,359     16,434
    Non-interest income   1,600     691     2,994     2,000
    Non-interest expense              
    Salaries and employee benefits   3,799     2,049     8,688     5,949
    Net occupancy and equipment expense   1,465     629     2,970     1,806
    Federal deposit insurance premiums   118     117     440     374
    Franchise taxes   51     98     358     299
    Advertising and marketing   190     49     408     179
    Legal   195     11     508     362
    Professional fees   371     54     1,664     270
    ATM network   79     121     474     320
    Auditing and accounting   193     60     386     180
    Other   1,403     545     2,625     1,337
    Total non-interest expense   7,863     3,733     18,520     11,076
    Income before federal income taxes   4,251     2,225     1,833     7,358
    Provision for federal income taxes   804     452     315     1,562
    Net income $ 3,446   $ 1,773   $ 1,517   $ 5,796
                   
    Earnings per share              
    Basic $ 0.44   $ 0.46   $ 0.27   $ 1.51
    Diluted $ 0.44   $ 0.46   $ 0.27   $ 1.50
                   
     
    MAIN STREET FINANCIAL SERVICES CORP.
    Selected Condensed Consolidated Financial Data
    (Dollars in thousands, except share data – unaudited)
                     
                     
        September   June   March   December
          2024       2024       2024       2023  
                     
    Interest and dividend income   $ 18,930     $ 12,572     $ 9,694     $ 9,545  
    Interest expense     8,308       6,185       4,641       4,330  
    Net interest income     10,622       6,387       5,053       5,215  
    Provision for credit losses     109       4,720       (126 )     4  
    Net interest income after                
    provision for credit losses     10,513       1,666       5,179       5,211  
    Non-interest income     1,600       716       678       1,017  
    Non-interest expense     7,863       6,723       3,934       3,748  
    Income before federal income taxes     4,251       (4,341 )     1,923       2,480  
    Provision for federal income taxes     804       (873 )     384       443  
    Net income   $ 3,446     $ (3,468 )   $ 1,539     $ 2,037  
                     
    Earnings per share – basic   $ 0.44     $ (0.68 )   $ 0.40     $ 0.53  
    Earnings per share – diluted   $ 0.44     $ (0.67 )   $ 0.40     $ 0.53  
    Dividends per share   $ 0.14     $ 0.14     $ 0.14     $ 0.14  
    Return on average assets     1.00 %     -1.38 %     0.76 %     1.02 %
    Return on average equity     12.58 %     -17.16 %     11.63 %     16.90 %
    Shares outstanding at quarter end     7,801,011       7,787,055       3,840,575       3,839,702  
    Book value per share   $ 14.27     $ 13.60     $ 13.81     $ 13.80  
    Tangible equity per share   $ 12.15     $ 11.49     $ 13.36     $ 13.35  
                     
                     
        September   June   March   December
          2023       2023       2023       2022  
                     
    Interest and dividend income   $ 9,078     $ 8,571     $ 7,901     $ 7,518  
    Interest expense     3,673       2,867       2,050       1,248  
    Net interest income     5,405       5,704       5,851       6,270  
    Provision for credit losses     138       170       218       381  
    Net interest income after                
    provision for credit losses     5,267       5,534       5,633       5,889  
    Non-interest income     691       706       603       631  
    Non-interest expense     3,733       3,949       3,394       3,508  
    Income before federal income taxes     2,225       2,291       2,842       3,012  
    Provision for federal income taxes     452       547       563       603  
    Net income   $ 1,773     $ 1,744     $ 2,279     $ 2,409  
                     
    Earnings per share – basic   $ 0.46     $ 0.46     $ 0.60     $ 0.62  
    Earnings per share – diluted   $ 0.46     $ 0.45     $ 0.59     $ 0.63  
    Dividends per share   $ 0.14     $ 0.14     $ 0.14     $ 0.14  
    Return on average assets     0.91 %     0.92 %     1.23 %     1.36 %
    Return on average equity     14.41 %     14.36 %     19.58 %     22.87 %
    Shares outstanding at quarter end     3,837,609       3,837,085       3,831,939       3,825,451  
    Book value per share   $ 12.40     $ 12.64     $ 12.51     $ 11.69  
    Tangible equity per share   $ 11.95     $ 12.20     $ 12.06     $ 11.24  
                     
     
    MAIN STREET FINANCIAL SERVICES CORP.
    Non-GAAP reconciliation
    (Dollars in thousands, except per share data – unaudited)
         
      For three months ended   For the nine months ended
      September 30,   September 30,
          2024       2023       2024       2023  
                   
    Net Income as reported – GAAP   $ 3,446     $ 1,773     $ 1,518     $ 5,796  
    Effect of merger related expenses (net of tax benefit)     170       160       5,743       597  
    Net Income non-GAAP   $ 3,616     $ 1,933     $ 7,261     $ 6,393  
                     
    Earnings per share – GAAP   $ 0.44     $ 0.46     $ 0.27     $ 1.51  
    Effect of merger related expenses     0.02       0.04       1.03       0.16  
    Earnings per share non-GAAP   $ 0.46     $ 0.50     $ 1.30     $ 1.67  
                     
    Return on average assets – GAAP     1.00 %     0.91 %     0.19 %     1.02 %
    Effect of merger related expenses     0.05 %     0.08 %     0.72 %     0.10 %
    Return on average assets non-GAAP     1.05 %     0.99 %     0.91 %     1.12 %
                     
    Return on average equity – GAAP     12.58 %     14.41 %     2.66 %     16.06 %
    Effect of merger related expenses     0.62 %     1.29 %     10.06 %     1.65 %
    Return on average equity non-GAAP     13.20 %     15.70 %     12.72 %     17.71 %
                     
    Efficiency Ratio – GAAP     64.34 %     61.24 %     73.92 %     58.42 %
    Effect of merger related expenses     -1.39 %     -3.07 %     -9.90 %     -3.29 %
    Efficiency Ratio non-GAAP     62.9 %     58.17 %     64.02 %     55.13 %
                     

    The MIL Network –

  • MIL-OSI: SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Vista Outdoor Inc. – VSTO

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Vista Outdoor Inc. (NYSE: VSTO), relating to its proposed merger with Czechoslovak Group a.s. (“CSG”). Under the terms of the agreement, Vista shareholders will also sell Revelyst in an all-cash transaction funds managed by Strategic Value Partners, LLC, and its affiliates. Together, the and the SVP Transactions will deliver an estimated $45 per share in cash to Vista Outdoor stockholders

    ACT NOW. The Shareholder Vote is scheduled for November 25, 2024.

    Click here for more information https://monteverdelaw.com/case/vista-outdoor-inc/. 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 the above listed company 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) 2024 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: STOCKHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Nxu, Inc. – NXU

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) —

    Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Nxu, Inc., (NASDAQ: NXU), relating to a proposed merger with Verde Bioresins, Inc. Under the terms of the agreement, Nxu will acquire all of the issued and outstanding common shares of Verde in an all-stock transaction.

    Click here for more information https://monteverdelaw.com/case/nxu-inc-nxu/. 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 the above listed company 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) 2024 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: INVESTIGATION ALERT: The M&A Class Action Firm Investigates the Merger of GlycoMimetics, Inc. – GLYC

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating GlycoMimetics, Inc. (NASDAQ: GLYC), relating to a proposed merger with First Crescent Biopharma, Inc. Under the terms of the agreement, the pre-acquisition GlycoMimetics stockholders are expected to own approximately 3.1% of the combined Company and the pre-acquisition Crescent stockholders (inclusive of those investors participating in the pre-closing financing) are expected to own approximately 96.9% of the company.

    Click here for more information https://monteverdelaw.com/case/glycomimetics-inc-glyc/. 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 the above listed company 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) 2024 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: SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Altair Engineering Inc. – ALTR

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) —

    Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Altair Engineering Inc. (NASDAQ: ALTR), relating to a proposed merger with Siemens AG. Under the terms of the agreement Altair stockholders will receive $113.00 per share in cash.

    Click here for more information https://monteverdelaw.com/case/altair-engineering-inc-altr/. 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 the above listed company 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) 2024 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: SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Staffing 360 Solutions, Inc. – STAF

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) —

    Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Staffing 360 Solutions, Inc. (Nasdaq: STAF), relating to a proposed merger with Atlantic International Corp. Under the terms of the agreement, Staffing 360 shareholders will receive 1.202 Atlantic shares for each Staffing 360 share. Atlantic and Staffing 360 shareholders will own approximately 90% and 10%, respectively, of the combined company.

    Click here for more information https://monteverdelaw.com/case/staffing-360-solutions-inc-staf/. 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 the above listed company 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) 2024 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: SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of BM Technologies, Inc. – BMTX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating BM Technologies, Inc. (NYSE: BMTX), relating to a proposed merger with First Carolina Bank. Under the terms of the agreement, BM Technologies stockholders will receive $5.00 per share in cash per share of BM Technologies common stock.

    Click here for more information https://monteverdelaw.com/case/bm-technologies-inc-bmtx/. 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 the above listed company 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) 2024 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: INVESTOR ALERT: The M&A Class Action Firm Investigates the Merger of Aerovate Therapeutics, Inc. – AVTE

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Aerovate Therapeutics, Inc. (Nasdaq: AVTE), relating to a proposed merger with Jade Biosciences. Under the terms of the agreement, pre-merger Aerovate stockholders are expected to own approximately 1.6% of the combined company, while pre-merger Jade stockholders are expected to own approximately 98.4% of the combined entity.

    Click here for more information https://monteverdelaw.com/case/aerovate-therapeutics-inc-avte/. 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 the above listed company 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) 2024 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: STOCKHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Air Transport Services Group, Inc. – ATSG

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Air Transport Services Group, Inc. (Nasdaq: ATSG), relating to a proposed merger with Stonepeak Nile Parent LLC. Under the terms of the agreement, Air Transport Services Group shareholders will receive $22.50 per share of Air Transport Services Group Common Stock they own.

    Click here for more information https://monteverdelaw.com/case/air-transport-services-group-inc-atsg/. 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 the above listed company 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) 2024 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: STOCKHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Profire Energy, Inc. – PFIE

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) —

    Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Profire Energy, Inc. (NASDAQ: PFIE), relating to a proposed merger with First CECO Environmental Corp. Under the terms of the agreement, a subsidiary of CECO will commence a tender offer to acquire all issued and outstanding shares of Profire common stock at a price of $2.55 per share.

    Click here for more information https://monteverdelaw.com/case/profire-energy-inc-pfie/. 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 the above listed company 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) 2024 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 Security: FBI Statement on Bomb Threats to Polling Locations

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

    The FBI is aware of bomb threats to polling locations in several states, many of which appear to originate from Russian email domains. None of the threats have been determined to be credible thus far.

    Election integrity is among the FBI’s highest priorities. We will continue to work closely with our state and local law enforcement partners to respond to any threats to our elections and to protect our communities as Americans exercise their right to vote.

    As always, we urge the public to remain vigilant and report suspicious activity to state or local law enforcement, or submit tips to the FBI at 1-800-CALL-FBI (1-800-225-5324) or online at tips.fbi.gov.

    MIL Security OSI –