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Category: KB

  • MIL-OSI Economics: Davos: DG suggests deep breaths and to “chill” over trade tensions; ministers show WTO support

    Source: WTO

    Headline: Davos: DG suggests deep breaths and to “chill” over trade tensions; ministers show WTO support

    The WEF’s annual meeting was held under the theme “Collaboration for the Intelligent Age”. In her speaking engagements and interactions with heads of state, government officials and business leaders, DG Okonjo-Iweala highlighted the importance of the WTO for the world economy and for addressing current global challenges. She also underlined the risks of further economic fragmentation and the trade opportunities arising from advancements in artificial intelligence and the green economy. In addition, she warned against escalating trade tensions, which could potentially trigger a damaging trade war.
    At an event on 21 January titled Finding Growth in Uncertain Times, she stated that trade has remained resilient despite recent crises, emphasizing that “trade will still be a source of growth.” She highlighted findings from a recent WTO study indicating the potential for double-digit trade growth if artificial intelligence tools are adopted, as they can reduce trade costs and boost productivity. DG Okonjo-Iweala also underscored the WTO’s relevance beyond the issue of tariffs, noting its role in ensuring food and product safety standards for imported goods. She cautioned against the risks of further trade fragmentation: “We’ve done simulations that show that fragmenting into two geopolitical trading blocs and adding trade policy uncertainty may lead to a real loss in global GDP in the longer term of 6.4%. This is like losing the economy of Japan and Korea combined.”
    DG Okonjo-Iweala discussed the role of trade in environmental preservation at the session Squaring the Climate-Trade Circle on 22 January.  “You can’t have the adoption of clean energy technology without trade,” she said. She also proposed that countries produce and export goods in line with their environmental comparative advantage, or the products causing the least damage in terms of carbon emissions.
    On 23 January, DG Okonjo-Iweala took part in a townhall titled Debating Tariffs alongside Valdis Dombrovskis, European Commissioner for Economy and Productivity. “It is easy to use tariffs, it is attractive as a policy tool, but I hope we have a strong analysis of what this means,” she said. When asked about potential new tariffs being discussed in the United States, the Director-General warned against a spiral of retaliation that could impact the global economy, as observed in the 1930s when raising tariffs worsened the economic crisis. “If we have tit-for-tat retaliation and we go to where we were in the 1930s, we are going to see double-digit global GDP losses. That’s catastrophic. Everyone will pay, and the poor countries will pay even more,” she stressed.
    On 24 January, the Director-General attended a ministerial gathering on WTO issues at the invitation of Guy Parmelin, Swiss Federal Councillor and head of the Department of Economic Affairs, Education and Research. Ministers considered the way ahead for the Organization and initial plans for the 14th WTO Ministerial Conference, to be held in March 2026 in Yaoundé, Cameroon.
    DG Okonjo-Iweala encouraged members to move away from “business as usual” and long-held positions. She invited them instead to advance work on the organization’s reform. “The context is changing, we must deliver, and we must modernize,” she said. According to the summary of the meeting shared by Mr Parmelin, ministers “underlined the significance of the WTO and the rules-based, transparent and predictable multilateral trading system”.  

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    MIL OSI Economics –

  • MIL-OSI NGOs: Pakistan: Authorities pass bill with sweeping controls on social media   

    Source: Amnesty International –

    Responding to the passage of the Prevention of Electronic Crimes (Amendment) Act 2025 at the National Assembly, Babu Ram Pant, Deputy Regional Director of Campaigns, South Asia, said: 

    “The latest amendment to the draconian Prevention of Electronic Crimes Act (PECA) by the National Assembly will further tighten the government’s grip over Pakistan’s heavily controlled digital landscape, if passed by both houses of Parliament. 

    “The amendment introduces a criminal offence against those perpetrating so-called ‘false and fake information’ and imposes a maximum penalty of three years’ imprisonment with a fine. The vague and ambiguous framing of some elements of the offense together with a history of the PECA being used to silence dissent raises concerns that this new offence will chill what little is left of the right to online expression in the country.  

    “Presented in the absence of any consultation or debate, the amendment also expands the powers previously available to the Pakistan Telecommunications Authority through the newly created Social Media Regulation and Protection Authority. These provisions grant authorities power to block and remove content based on vague criteria, which will violate the right to freedom of expression and fail to meet standards of proportionality and necessity under international human rights law. 

    The latest amendment to the draconian Prevention of Electronic Crimes Act (PECA) by the National Assembly will further tighten the government’s grip over Pakistan’s heavily controlled digital landscape, if passed by both houses of Parliament. 

    Babu Ram Pant, Deputy Regional Director of Campaigns, South Asia

    “These developments are in step with deployment of intrusive digital surveillance technologies and laws such as the Digital Nation Pakistan Bill, that fail to incorporate any human rights safeguards. Amnesty International calls on the authorities to immediately withdraw the Bill and instead engage in a meaningful consultative process with civil society to amend PECA to bring it in line with international human rights law.” 

    Background: 

    The amendment Bill was presented in and passed by the National Assembly on 23 January 2025 and referred to the Standing Committee the next day by the Senate after backlash from opposition, media and civil society.  

    The Prevention of Electronic Crimes Act passed in 2016 triggered widespread criticism from human rights organizations and activists for its potential for harmful impact on the right to freedom of expression and access to information in the country. The nine years since have confirmed these fears as journalists, human rights defenders and political opposition have been targeted under the law. Recently, the authorities have frequently imposed blanket bans on social media platforms and have blocked X, formerly Twitter, since February 2024. 

    MIL OSI NGO –

  • MIL-OSI Banking: Apple Miami Worldcenter opens to excited customers in downtown Miami

    Source: Apple

    Headline: Apple Miami Worldcenter opens to excited customers in downtown Miami

    Apple’s newest store in Miami opened this Friday, January 24, in the city’s dynamic downtown district, where customers and members of the local community celebrated with the over 150-person-strong store team.

    Shoppers can easily and seamlessly upgrade to iPhone 16 by taking advantage of Apple Trade In, various financing offers, carrier activation, and personalized setup — all in a uniquely designed store where everyone is welcome. Customers can shop the all-new lineup of iPhone 16, Mac, MacBook Pro, Mac mini powered by the M4 chip, Apple Watch Series 10, and AirPods models, and receive personalized shopping support from Apple team members.

    To celebrate the opening of the store, Apple Miami Worldcenter will offer customized Today at Apple sessions highlighting the store’s environment-centered design and natural elements, as well as special Made for Business events led by small business owners. Customers can explore upcoming Today at Apple sessions and book at apple.com/retail/miamiworldcenter.

    MIL OSI Global Banks –

  • MIL-OSI New Zealand: SH1 closed following crash, Waikato Expressway, Bombay

    Source: New Zealand Police (District News)

    Motorists are advised that State Highway 1, Waikato Expressway northbound is closed at Nikau Road off-ramp, following a crash involving two vehicles in Nikau Road to Mill Road area, reported at around 8.45am.

    Emergency services are in attendance, no injuries are reported at this time.

    Motorists are advised to avoid the area if possible and expect delays. Check NZTA Journey Planner for updates.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI USA: FEMA Seeks Multi-Family Properties to House Georgia Storm Survivors

    Source: US Federal Emergency Management Agency 2

    FEMA Seeks Multi-Family Properties to House Georgia Storm Survivors

    FEMA is seeking multi-family properties that can be used as temporary housing for eligible survivors of Hurricane Helene. These units must meet local, state and federal housing regulations. Multi-family properties for consideration should be in and around the communities affected by Hurricane Helene, to include Appling, Berrien, Burke, Clinch, Coffee, Emanuel, Jeff Davis, Jefferson, Lanier, Lowndes, McDuffie and Toombs counties. FEMA encourages all interested multifamily properties to consider participating. The deadline for property owners and managers to reply to this request for information is Saturday, Feb. 22, 2025. Interested parties will need to email FEMA-dr4830ga-mlrrfi@fema.dhs.gov.What is Multi-Family Lease and Repair program?Multi-Family Lease and Repair (MLR) is a form of temporary housing assistance that allows FEMA to repair or make improvements to existing multifamily rental/residential property for the purpose of providing temporary housing to eligible FEMA applicants. The properties in MLR are to be offered as temporary housing to eligible disaster survivors. The properties must be available for a term of no less than 18 months, with the option of a lease extension. The properties should be complexes that are able to accommodate a considerable number of people in a single location. Each property must have been previously used as a multifamily housing complex and contain multiple rental units. Hotels, hospitals, nursing homes, etc. are not considered residential properties and are not authorized for MLR. The site must be repairable to local, state and federal regulations within a four-month period and cannot be located in a floodway. MLR is not intended to repair or improve individual units to rehouse existing tenants.What conditions does the property need to meet?All property management companies or owners must register to do business with FEMA through the System for Award Management (SAM) at SAM.gov.The property owner must provide all property management services, including building maintenance.The vacant units on the property must be available to be leased exclusively to FEMA for use as temporary housing for eligible survivors for a term expiring no earlier than 18 months, with the possibility of contract extension.The property must be in an area with access to community and wraparound services such as accessible public transportation, schools, fire and emergency services, grocery stores, etc.Each unit must provide complete and independent living facilities for one or more persons and contain permanent provisions for living, sleeping, cooking and sanitation.The property must contain multiple units.The property must have been previously used as multifamily housing.The property owner must agree to allow FEMA to make reasonable accommodation and/or modification repairs or improvements during the term of the lease without requiring FEMA to remove the improvements at the end of the lease agreement. What other terms or conditions are there?A provision granting FEMA exclusive use of the units and sole discretion to identify and select occupants during the term of the lease agreement.A provision granting FEMA the option of releasing the unit to the owner and ceasing all monthly payments for the unit at any time by providing 30 days’ notice.A provision incorporating a lease addendum containing FEMA’s conditions of eligibility and termination of tenancy and eviction into any lease between the property owner and the occupant. A provision agreeing to waive credit screening for eligible applicants.A provision allowing FEMA to reassign a vacated unit when eligible applicants need temporary housing assistance, and a unit becomes available before the end of the period of assistance.Property owners must be current and in good standing with property mortgage payments and ensure mortgage standing verification is provided as well as proof of ownership. What information is requested?Interested property owners should provide the following information:Name of complex, location, owner name and phone number or contact information (if not property owner)Status of property’s mortgage payments.Total number of housing units within the property.Number of vacant housing units containing a separate bathroom, kitchen, and living space.Number of vacant housing units available for FEMA exclusive use.Number of vacant housing units compliant with Uniform Federal Accessibility Standards and/or features that provide accessibility for individuals with disabilities. Description of repairs and improvements required to make the housing units habitable. Description of repairs currently underway, if applicable.Projected length of time required to make the housing units habitable (from execution of the contract). Year building was constructed (if known).Years the building was used for multi-family housing.Rental rates during the last year of operation (state whether utilities were included, and if so, which ones).Pet restrictions, such as type, number, or size, and applicable pet deposits; andNumber of parking spaces (including accessible and van-accessible) available for each housing unit. Where do I respond to the request for information?Interested property owners or management companies must provide responses and comments on or before Saturday, Feb. 22, 2025 at 5:00pm EST to FEMA-dr4830ga-mlrrfi@fema.dhs.gov. The email subject line should read:  RFI# RFI70FBR425I00000008_DR4830GA  Response: FEMA-dr4830ga-mlrrfi@fema.dhs.gov.More information about this opportunity can be found at SAM.gov.The RFI does not constitute a Request for Proposal (RFP0), Invitation for Bid (IFB), or Request for Quotation (RFQ), and it is not to be construed as a commitment by the government to enter into a contract, nor will the government pay for the information submitted in response to this request. Response to this notification will be used to determine which properties meet the Direct Lease criteria and provide the most timely and cost-effective means of providing direct assistance to eligible disaster survivors. FEMA wants to obtain market information or capabilities for planning purposes. For the latest information about Georgia’s recovery, visit fema.gov/helene/georgia. Follow FEMA Region 4 @FEMARegion4 on X or follow FEMA on social media at: FEMA Blog on fema.gov, @FEMA or @FEMAEspanol on X, FEMA or FEMA Espanol on Facebook, @FEMA on Instagram, and via FEMA YouTube channel. Also, follow Acting Administrator Cameron Hamilton on X @FEMA_Cam.                                                                                    ###FEMA’s mission is helping people before, during and after disasters.
    jakia.randolph
    Fri, 01/24/2025 – 20:07

    MIL OSI USA News –

  • MIL-OSI USA: FEMA Seeks Property Management Companies in Georgia for Direct Lease

    Source: US Federal Emergency Management Agency

    Headline: FEMA Seeks Property Management Companies in Georgia for Direct Lease

    FEMA Seeks Property Management Companies in Georgia for Direct Lease

    FEMA is seeking information from property management companies with ready-for-occupancy residential or rental properties in Georgia communities affected by Hurricane Helene. These units must meet local, state and federal housing regulations. Property management companies for consideration should be doing business in and around communities affected by Hurricane Helene, to include Appling, Berrien, Burke, Clinch, Coffee, Emanuel, Jeff Davis, Jefferson, Lanier, Lowndes, McDuffie and Toombs counties, as well as surrounding communities. FEMA encourages all interested property management companies to consider participating.The deadline for companies to reply to this request for information is Wednesday, Feb. 12, 2025. What is Direct Lease program? Direct Lease is a form of Direct Temporary Housing Assistance that allows FEMA to enter into contracts directly with property management companies to lease properties not generally available to the public. Properties must be available for no less than 18 months, with an option for lease extension. The properties will then be offered as temporary housing to eligible disaster survivors. This includes corporate apartments, vacation rentals, secondary homes, bank-owned properties, condominiums, townhouses and other dwellings. FEMA may use these units for eligible applicants who are unable to use rental assistance due to lack of available resources. What conditions does the property need to meet?The property must be an existing residential property not typically available to the public (i.e. corporate apartments, vacation rentals, and second homes), for use as temporary housing. Units occupied using a form of FEMA Rental Assistance cannot be combined with FEMA Direct Lease Assistance. Hotels, motels and other transient accommodations will not be acquired for Direct Lease. The property must comply with Housing Quality Standards established by the U.S. Department of Housing and Urban Development and all relevant state building and occupancy standards and regulations. All utilities, appliances, and other furnishings must be functional. Each unit must provide complete living facilities, including provisions for cooking, eating and sanitation within the unit. The property must be located within reasonable access to community and wrap-around services, such as accessible public transportation, schools, fire and emergency services, grocery stores, etc.All property management companies or owners must register to do business with FEMA through the System for Award Management (SAM) at SAM.gov.What terms or conditions are there?A provision granting FEMA exclusive use of the units and sole discretion to identify and select occupants during the term of the lease agreement.A provision granting FEMA the option of releasing the unit to the owner and ceasing all monthly payments for the unit at any time by providing 30 days’ notice.A provision allowing FEMA to make, at FEMA’s expense, reasonable modifications or improvements to the property to provide a reasonable accommodation for an eligible applicant with a disability or other access and functional needs.A provision allowing FEMA to restore the property to its original condition before any reasonable modifications or improvements as requested by the property owner.A provision incorporating a lease addendum containing FEMA’s conditions of eligibility and termination of tenancy and eviction into any lease between the property owner and the occupant.A provision agreeing to waive credit screening for eligible applicants.A provision allowing FEMA to reassign a vacated unit when eligible applicants need temporary housing assistance, and a unit becomes available before the end of the period of assistance.Property owners must provide all building maintenance services.Property owners must be current and in good standing with property mortgage payments and have a current rental license verification.What information is requested?Interested property owners should provide the following information:Name of complex, location, owner name and phone number or contact information (if not property owner).Number of vacant units containing a separate bathroom, kitchen and living space available for FEMA exclusive use and the number of bedrooms each unit contains.Number of units compliant with Uniform Federal Accessibility Standards and/or features that provide accessibility for individuals with disabilities.Confirmation the property owner is current and up to date with the property’s mortgage payments.Confirmation that the property is readily available for applicants to move in.History of the building’s use (dates used as a rental, etc.) if applicable.Utilities included in rent.Numbers of units fully furnished.Rental range for property, including any associated fees.Pet restrictions, such as type, number, or size, and applicable pet deposits; andNumber of parking spaces (including accessible and van-accessible) available for each housing unit.Where do I respond to the request for information?Interested property owners or management companies must provide responses and comments by Wednesday, Feb. 12, 2025 to fema-dr4830ga-directleaserfi@fema.dhs.gov. The email subject line should read RFI# 70FBR425I00000007.More information about this opportunity can be found at SAM.gov.The RFI does not constitute a Request for Proposal (RFP0), Invitation for Bid (IFB), or Request for Quotation (RFQ), and it is not to be construed as a commitment by the government to enter into a contract, nor will the government pay for the information submitted in response to this request. Response to this notification will be used to determine which properties meet the Direct Lease criteria and provide the most timely and cost-effective means of providing direct assistance to eligible disaster survivors. FEMA wants to obtain market information or capabilities for planning purposes. For the latest information about Georgia’s recovery, visit fema.gov/helene/georgia. Follow FEMA Region 4 @FEMARegion4 on X or follow FEMA on social media at: FEMA Blog on fema.gov, @FEMA or @FEMAEspanol on X, FEMA or FEMA Espanol on Facebook, @FEMA on Instagram, and via FEMA YouTube channel. Also, follow Acting Administrator Cameron Hamilton on X @FEMA_Cam.                                                                                    ###FEMA’s mission is helping people before, during and after disasters.
    jakia.randolph
    Fri, 01/24/2025 – 20:11

    MIL OSI USA News –

  • MIL-OSI USA: Governor’s Wellness Walk Encourages Healthy Living

    Source: US State of Nebraska

    .com

     

    Governor’s Wellness Walk Encourages Healthy Living

     

    LINCOLN, NE – Today, Governor Jim Pillen, UNO Athletic Director Adrian Dowell, Mavericks Head Soccer Coach Donovan Dowling, Mavericks Women’s Soccer Coach Tim Walters, Nebraska Sports Council President Dave Minarik and Husker Women’s Basketball player Callin Hake met at the State Capitol today to talk and walk. The talk, shared in a brief news conference, encouraged Nebraskans to make healthy living a priority in 2025. The walk, multiple laps through the Capitol’s 2nd-floor hallways, provided an example of a simple way to fit physical activity into a busy daily routine.

     

    “I’m a firm believer in the importance of exercise and fitness as a cornerstone of a healthy lifestyle,” said Gov. Pillen. “Being healthy and getting enough exercise doesn’t have to be hard and can be as simple as walking.”

     

    Nebraska’s Chief Medical Officer Dr. Tim Tesmer reported that the rate of adult obesity in Nebraska has increased significantly from 28% in 2011 to 36.6% in 2024, according to the latest data. He also noted that nearly 24% of Nebraskans report they do not get enough physical activity. Additionally, Dr. Tesmer shared that a person’s physical condition is a prime factor in their risk of contracting most major diseases.

     

    “Physical activity is a cornerstone of health and wellness, playing a key role in preventing many chronic health conditions such as obesity, heart disease, stroke, Type 2 diabetes and certain cancers,” said Dr. Tesmer. “Whether it is through walking, yoga, or another form of movement, the best time to start is now. The key is to get moving and keep moving.”  

      

    “The Nebraska Sports Council is proud to join Gov. Pillen in promoting healthy lifestyles,” said Dave Minarik, president of the Nebraska Sports Council. “We encourage all Nebraskans to stay motivated by using our free activity tracking program at WellPowerMovement.com.”

     

    The Nebraska Sports Council, which coordinates the Governor’s Walk, is a 501(c)(3) non-profit organization with a mission of providing quality sports competition and promoting healthy lifestyle choices. Learn more about the WellPower Movement and the Nebraska Sports Council at NebraskaSportsCouncil.com. 

    Governor Jim Pillen

    Dave Minarik, president of the Nebraska Sports Council

    Governor Jim Pillen and Nebraska Sports Council President Dave Minarik leading the Wellness Walk

    MIL OSI USA News –

  • MIL-OSI Security: Honduran National Extradited to the United States for Fentanyl Trafficking

    Source: Office of United States Attorneys

    SACRAMENTO, Calif. — An indictment was unsealed today charging Honduran national Abner Estrada Cruz, 25, with conspiracy to distribute at least 400 grams fentanyl and seven counts of distributing fentanyl, Acting U.S. Attorney Michele Beckwith announced.

    Estrada Cruz was extradited from Honduras to the United States to face the charges against him.

    The indictment stems from a two-year DEA-led multi-agency investigation into a Honduran fentanyl drug trafficking ring operating out of Honduras, San Francisco, California, and Portland, Oregon. During the course of the investigation, DEA seized more than 16 pounds of fentanyl powder trafficked into the Eastern District of California from Estrada Cruz’s co-conspirators. Those co-conspirators – Yahir Alexander Arteaga Cruz, Carlos Samir Colindrez-Erazo, and Aronis Jose Hernandez Aguilar – have been charged in the same conspiracy by separate indictment in the Eastern District of California in Sacramento (2:24-cr-0246-DAD). Several additional members of the Drug Trafficking Organization were indicted in the District of Oregon in Portland.

    Estrada Cruz acted as the operations manager of the organization, taking orders, arranging deliveries, and helping to run the organization from San Francisco, Portland, and Honduras. He was arrested in Honduras and surrendered to the United States following extradition proceedings.

    This case is the product of an investigation by the Drug Enforcement Administration, with assistance from the California Department of Justice Bureau of Investigation Fentanyl Task Force, the Federal Bureau of Investigation, the Bureau of Alcohol, Tobacco, Firearms and Explosives, Homeland Security Investigations, and the Sacramento County Sheriff’s Office. Assistant U.S. Attorney Cameron L. Desmond is prosecuting the case.

    The Justice Department’s Office of International Affairs worked with law enforcement partners in Honduras to secure the arrest and extradition of Estrada Cruz.

    If convicted of the conspiracy to distribute and possess with intent to distribute fentanyl, Estrada Cruz faces a maximum statutory penalty of life in prison and a $10 million 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 defendants are presumed innocent until and unless proven guilty beyond a reasonable doubt.

    This prosecution is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) Strike Force Initiative, which provides for the establishment of permanent multi-agency task force teams that work side-by-side in the same location. The specific mission of the OCDETF Sacramento Strike Force is to identify, investigate, and prosecute the most significant criminal organizations operating in the Eastern District of California. OCDETF Sacramento Strike Force is composed of agents and officers from DEA, FBI, HSI, IRS-CI, USMS, ATF, USPIS, BLM, USFS, the Sacramento Sheriff’s Office, the California National Guard, the California Department of Corrections and Rehabilitation, the California Department of Justice, and the Central Valley California HIDTA.

    MIL Security OSI –

  • MIL-OSI Security: Maryland Man Convicted Of Money Laundering Offenses Related To Computer Intrusions

    Source: Office of United States Attorneys

    NEWARK, N.J. – A Maryland man was convicted yesterday for money laundering offenses related to funds that were obtained through unlawful computer intrusions that targeted a victim’s 401(k) retirement plan, Acting U.S. Attorney Vikas Khanna announced.

    Oladapo Sunday Ogunbiyi, 43, of Bowie, Maryland, was convicted of conspiracy to commit money laundering, two counts of money laundering, and two counts of engaging in monetary transactions in property derived from specified unlawful activity.  The jury returned the verdict following a three-day trial before U.S. District Judge Michael A. Shipp in Trenton federal court.

    According to documents filed in this case and statements made in court:

    Ogunbiyi conspired with others to launder funds obtained through an unlawful computer fraud scheme in which they obtained unauthorized access to a 401k account belonging to the victim. The co-conspirators then added a bank account belonging to another individual to the victim’s 401k account without the victim’s knowledge or authorization. This account was designated as the account to receive withdrawals from the victim’s 401k account. Thereafter, $246,390 was transferred to the bank account belonging to the account that had been added without the victim’s knowledge or consent.

    Ogunbiyi’s co-conspirator directed that the fraud proceeds be converted into cashier’s checks, which were provided to Ogunbiyi. Ogunbiyi then deposited the cashier’s checks into business bank accounts under his control and withdrew the funds in a series of ATM and counter withdrawals designed to conceal the source of the money, which he used for personal expenditures.

    The counts of money laundering and money laundering conspiracy carry a maximum penalty of 20 years in prison and a fine of $500,000, or twice the value of the property involved in the transaction, whichever is greater. The counts of engaging in monetary transactions in property derived from specified unlawful activity carry a maximum penalty of 10 years in prison and a fine of $250,000, or twice the value of the property involved in the transaction, whichever is greater. Sentencing is scheduled for July 7, 2025.

    Acting U.S. Attorney Khanna credited special agents of the FBI, including the FBI’s Cyber Crimes Task Force, under the direction of Acting Special Agent in Charge Terence G. Reilly in Newark, with the investigation leading to the charges.

    The government is represented by Assistant U.S. Attorneys Lauren Kober of the Organized Crime/Gangs Unit and Peter A. Laserna of the Bank Integrity, Money Laundering, and Recovery Unit in Newark.

    25-019                                                 ###

    Defense counsel: Jason A. Seidman, Esq., Freehold, New Jersey

    MIL Security OSI –

  • MIL-OSI Security: Kidnapper of Alexandria, VA, Couple Sentenced to 108 Months in Federal Prison

    Source: Office of United States Attorneys

               WASHINGTON – Robbie Terrell Clark, 27, of Washington D.C., was sentenced today in U.S. District Court to 108 months in federal prison for his role in the September 2022 kidnapping and robbery of a pair of victims in Alexandria, Virginia. 

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

               Clark pleaded guilty on May 21, 2024, before U.S. District Court Judge Amy Berman Jackson, to one count of conspiracy to commit kidnapping. In addition to the 108-month prison-term, Judge Berman Jackson ordered Clark to serve four years of supervised release. 

               According to court documents, Clark and his co-conspirators stalked their intended victims before kidnapping and robbing them at gunpoint inside their Alexandria, Virginia apartment building. On September 2, 2022, the co-conspirators planted a GPS tracking device on one of the victim’s Mercedes, which they used to monitor the victims’ locations.  

               On September 3, 2022, the victims attended a family gathering in Maryland. Seizing the opportunity to catch their victims unaware, Clark and his co-conspirators traveled from Washington, D.C. to Virginia in a stolen white Kia and to the victim’s home, where they laid in wait, armed with guns and carrying zip ties. Clark and his co-conspirators were wearing dark clothing, masks, and latex gloves.

               When the victims returned home later that night, Clark and his co-conspirators ambushed them in their parking garage at gunpoint, stealing two Audemars Piguet watches worth $120,000, another $63,500 worth of jewelry, other clothing, and the keys to a victim’s Mercedes.

               After robbing them, and pistol-whipping them with their guns, Clark and the co-conspirators led the victim couple to one of the victim’s apartments. Inside, the co-conspirators continued to hold the victims at gunpoint and ransacked the residence, demanding money. The co-conspirators were unable to locate any money before a security alarm was triggered and the co-conspirators fled, leaving behind several plastic zip ties. 

               Clark and his co-conspirators fled the apartment building shortly before 2 a.m. on September 4, 2022, in the stolen white Kia and the victims’ Mercedes and returned to the District. Law enforcement found the stolen Mercedes hours later in Maryland with the GPS tracking device still attached. Following a lengthy investigation, Clark was identified as a participant and arrested on August 16, 2023, in Washington, D.C. He has been held since.

               At the time of the incident, Clark had a felony conviction in Maryland for possessing a handgun in a vehicle. 

               Clark’s co-conspirator, Tyree McCombs, pleaded guilty on August 14, 2024, to conspiracy to interfere with interstate commerce by robbery in connection with this offense as well as to a separate kidnapping committed two months later. McCombs is awaiting sentencing.

               This case was investigated by FBI Washington Field Office’s Violent Crimes Task Force. The Fairfax County Police Department assisted with the investigation. The matter is being prosecuted by Assistant U.S. Attorney Charles Jones for the District of Columbia.

    22cr377

    MIL Security OSI –

  • MIL-OSI Security: Tantallon — Update: RCMP continue search for Murdock “Kyle” MacKinnon

    Source: Royal Canadian Mounted Police

    RCMP Halifax Regional Detachment continues its search to locate 42-year-old Murdock “Kyle” MacKinnon.

    This morning, RCMP officers received information that MacKinnon’s vehicle, a black Ford Flex with a white top and an Ontario licence plate, may’ve been observed in the Colchester area. When officers arrived at the scene, the vehicle had already left the area.

    MacKinnon, who’s from Tantallon, is described as 6-foot-0 with brown hair.

    With the support from his loved ones, investigators are releasing additional photos of MacKinnon and a stock photo of the Ford Flex. The vehicle driven by MacKinnon also has a silver rack on the roof.

    When someone goes missing, it has deep and far-reaching impacts for the person and those who know them. We ask that people spread the word through social media respectfully.

    Anyone with information on the whereabouts of Murdock “Kyle” MacKinnon is asked to contact the RCMP Halifax Regional Detachment at 902-490-5020 or the police of jurisdiction. To remain anonymous, call Nova Scotia Crime Stoppers, toll-free, at 1-800-222-TIPS (8477), submit a secure web tip at http://www.crimestoppers.ns.ca, or use the P3 Tips app.

    Note to media: A stock photo of the vehicle and photos of MacKinnon are attached.

    MIL Security OSI –

  • MIL-OSI Security: California Man Sentenced To 87 Months For Role In $50 Million Wire And Securities Fraud Scheme

    Source: Office of United States Attorneys

    NEWARK, N.J. – A California man was sentenced on Tuesday, January 21, 2025, to 87 months in prison by U.S. District Court Judge Esther Salas for his role in a $50 million internet-enabled fraud scheme, Acting U.S. Attorney Vikas Khanna announced.

    Allen Giltman, 59, of Irvine, California, previously pleaded guilty in Newark federal court to a two-count Information charging him with conspiracy to commit wire fraud and conspiracy to commit securities fraud.

    According to the documents filed in this case and statements made in court:

    Between 2012 and October 2020, Giltman and others engaged in an internet-based financial fraud scheme, which generally involved the creation of fraudulent websites to solicit funds from investors. At times, the fraudulent websites were designed to closely resemble websites being operated by actual, well-known, and publicly reputable financial institutions; at other times, the fraudulent websites were designed to resemble legitimate-seeming financial institutions that did not exist.

    Victims of the fraud scheme typically discovered the fraudulent websites via internet searches.  The fraudulent websites advertised various types of investment opportunities, most prominently the purchase of certificates of deposit, or CDs.  The fraudulent websites advertised higher than average rates of return on the CDs to lure potential victims.

    The fraudulent websites used a variety of means to appear legitimate and to gain and maintain the trust of prospective investors, including by (a) displaying the actual names and logos of real financial institutions;  (b) purporting that the institutions were members of and/or regulated by the Federal Deposit Insurance Corporation (FDIC), Financial Industry Regulatory Authority (“FINRA”), the Securities Investor Protection Corporation, or New York Stock Exchange; (c) claiming that deposits made to the institutions associated with the fraudulent websites were FDIC insured; and (d) using FINRA and/or FDIC member identification numbers issued to real financial institutions and real FINRA broker-dealers.

    After discovering one of the fraudulent websites, victims would contact an individual via telephone or email as directed on the sites.  As alleged in the Information, this individual was Giltman.  During his communications with victims of the fraud scheme, Giltman impersonated real FINRA broker-dealers by using their names and FINRA CRD numbers.  Giltman would then provide the victims with applications and wiring instructions for the purchase of a CD.  The funds wired by the victims would then be moved to various domestic and international bank accounts, including accounts in Russia, the Republic of Georgia, Hong Kong, and Turkey.  None of the victims received a CD after wiring the funds.

    To date, law enforcement has identified at least 150 fraudulent websites created as part of the scheme.  At least 70 victims of the fraud scheme nationwide, including in New Jersey, collectively transmitted funds that they believed to be investments in the aggregate amount of at least approximately $50 million.

    * * *

    In addition to the prison term, Judge Salas sentenced Giltman to 3 years of supervised release and ordered forfeiture of numerous assets seized from Giltman at the time of his arrest in 2020.

    The U.S. Securities and Exchange Commission (SEC) previously filed a civil complaint against Giltman based on the same conduct.

    Acting U.S. Attorney Khanna credited special agents of the FBI under the direction of Acting Special Agent in Charge Terence G. Reilly in Newark.  He also thanked the SEC for the assistance provided by its Enforcement Division.

    The government is represented by Assistant U.S. Attorney Anthony P. Torntore, Chief of the U.S. Attorney’s Cybercrime Unit in Newark.

    25-020                                                              ###

    Defense counsel:

    Nina Marino, Esq. and Jennifer Lieser, Esq, Beverly Hills, California

    MIL Security OSI –

  • MIL-OSI Security: Statement from U.S. Attorney Edward Martin

    Source: Office of United States Attorneys

    “If a judge decided that Jim Biden, General Mark Milley, or another individual were forbidden to visit America’s capital—even after receiving a last-minute, preemptive pardon from the former President—I believe most Americans would object. The individuals referenced in our motion have had their sentences commuted – period, end of sentence.”

    -U.S. Attorney for the District of Columbia, Edward Martin 

    MIL Security OSI –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 24.01.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    24 January 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 24.01.2025

    Espoo, Finland – On 24 January 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 872,093 4.40
    CEUX – –
    BATE – –
    AQEU – –
    TQEX – –
    Total 872,093 4.40

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 24 January 2025 was EUR 3,835,814. After the disclosed transactions, Nokia Corporation holds 231,670,526 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI USA: Lummis, Kelly Introduce Bipartisan, Bicameral Commercial Driver’s License Reforms  

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis
    WASHINGTON, D.C. – U.S. Senators Cynthia Lummis (R-WY) and Mark Kelly (D-AZ) introduced the Licensing Individual Commercial Exam-takers Now Safely and Efficiently (LICENSE) Act to help ease supply chain challenges by increasing the number of truck drivers in the U.S. The bill builds on waivers the Federal Motor Carrier Safety Administration (FMCSA) implemented during the COVID-19 pandemic.
    “Wyoming relies on America’s truck drivers to deliver goods to folks and small businesses throughout our rural state,” said Lummis. “Streamlining commercial driver’s licensing and cutting this burdensome red tape will ensure the people in the Cowboy State can rely on deliveries so they get the resources they need. I’m proud to work with Senator Kelly to reform the licensing process for America’s truckers.”
    “Arizona’s economy relies on the commercial drivers who work hard to keep goods moving across the nation,” said Kelly. “I’m glad to work with my colleague Senator Lummis to cut red tape, support the trucking industry, and ensure the federal government is doing everything it can to strengthen our economy and lower costs for families in Arizona.” 
    “When the Federal Motor Carrier Safety Administration (FMCSA) provided flexibility on several regulatory requirements during the COVID-19 public health emergency, drivers and motor carriers gained new operational efficiencies without compromising safety,” said American Trucking Associations Senior Vice President of Regulatory & Safety Policy Dan Horvath.  “The LICENSE Act leverages the lessons learned during the pandemic and makes permanent two commonsense waivers that were reissued numerous times since 2020 to reduce administrative burdens for Americans pursuing rewarding careers in the trucking industry. The incorporation of these waivers into law by enactment of the LICENSE Act will provide certainty to the trucking industry and strengthen our supply chain by permanently removing these unnecessary bureaucratic barriers.  This represents an important step toward making it more efficient and simpler for drivers to obtain their CDLs while keeping our roadways safe.”
    “During the past several years that these waivers have been in effect, they have proven that they strike the appropriate balance between maintaining high safety standards while making it easier for aspiring truck drivers to obtain their CDLs.  That’s why DOT reissued them multiple times throughout the pandemic.  Now it is time to provide certainty to the trucking industry by making these effective waivers permanent,” said Wyoming Trucking Association President & CEO Kevin Hawley.  “The LICENSE Act would make a commonsense change to streamline the arduous process for obtaining a CDL, removing unnecessary burdens on our drivers and supply chain.  We commend Senator Lummis for once again standing up for truckers, helping more people to obtain good-paying jobs, and growing Wyoming’s economy.”
    “The LICENSE Act streamlines the CDL testing process by allowing states to test applicants regardless of their residency or training location,” said Ryan Streblow, President and CEO of the National Tank Truck Carriers. “This efficiency is a commonsense solution that aims to address tank truck workforce shortages and strengthen our supply chain.”
    “CVTA members are pleased to see swift reintroduction of the LICENSE Act,” said Danny Bradford, Chairman of the Commercial Vehicle Training Association (CVTA). “This bill reduces bureaucratic barriers that delay new drivers from receiving their Commercial Driver’s License (CDL). We urge Congress to quickly pass this bill as part of an agenda to unleash record growth in the U.S. economy.”
    The LICENSE Act will:
    Expand CDL Testing: State and third-party examiners would be authorized to administer both the CDL skills and knowledge tests, speeding up the licensing process without compromising safety.
    Provide Flexible Supervision for CLP Holders: Licensed drivers accompanying commercial learner’s permit (CLP) holders could move to the sleeper berth of the truck, recognizing that many CLP holders have already passed their road tests and are waiting on their official CDL.
    Streamline Testing Across States: States would be allowed to administer driving skills tests to applicants from other states, making it easier for future truckers to complete testing close to home.
    The LICENSE Act is endorsed by: 
    The Agricultural & Food Transporters Conference (AFTC), the American Trucking Associations (ATA), the Automobile Carriers Conference (ACC), the Commercial Vehicle Training Association (CVTA), the Government Freight Conference (GFC), the Intermodal Motor Carriers Conference (IMCC), the Moving and Storage Conference (MSC), the National Tank Truck Carriers (NTTC), and the Truckload Carriers Association (TCA)
    To read the bill, click here.

    MIL OSI USA News –

  • MIL-OSI USA: Lummis Issues Statement of Support for Trump National Security Nominee

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    January 24, 2025

    Washington, D.C. — U.S. Senator Cynthia Lummis (R-WY) released the following statement after meeting with former Representative Tulsi Gabbard, President Trump’s nominee for Director of National Intelligence.
    “President Trump has made shoring up our national security his top priority, and we have a responsibility to get his nominations through the senate quickly so his administration is well-equipped to protect the American people,” said Lummis. “I served with Tulsi in the House of Representatives, and I have no doubt she will play a pivotal role in restoring American global dominance.”

    MIL OSI USA News –

  • MIL-OSI United Nations: World News in Brief: More UN staffers detained in Yemen, education hit by climate crisis, Nigeria aid plan

    Source: United Nations 4

    Peace and Security

    The UN has suspended all official movements by its teams into and out of Houthi-held areas of Yemen, after more UN staffers were detained on Thursday.

    The de facto rulers of much of the country, including the capital Sana’a, released the crew of a merchant ship who had been held for more than a year, earlier this week.

    The move raised hopes that more than 60 staff from the UN, international organizations and diplomatic missions already being held by the Houthis over the past year, might be released.

    Friday’s safety measure announced by Julien Harneis, UN Resident and Humanitarian Coordinator for Yemen, comes as the organization faces mounting security challenges in its operations in the region.

    The Houthis and the internationally-recognized Government have been fighting for control of the country in what has become a wider regional proxy war, for over a decade.

    Security measure

    “Yesterday, the de facto authorities in Sana’a detained additional UN personnel working in areas under their control,” Mr. Harneis said.

    “To ensure the security and safety of all its staff, the United Nations has suspended all official movements into and within areas under the de facto authorities’ control…this measure will remain in place until further notice.”

    Deputy Spokesperson Farhan Haq elaborated on the response later on Friday, highlighting the UN’s ongoing efforts: “Our officials in Yemen are actively engaging with senior representatives of the de facto authorities, demanding the immediate and unconditional release of all UN personnel and partners.”

    The detentions mark a troubling escalation for humanitarian operations in Yemen, where access and security remain critical concerns.

    The UN continues to emphasise the importance of upholding the safety and neutrality of its personnel to ensure lifesaving aid reaches those in need.

    Nearly 250 million children’s schooling disrupted by climate crises in 2024

    At least 242 million students in 85 countries had their schooling disrupted by extreme climate events in 2024, the UN Children’s Fund, UNICEF, has warned.

    Heatwaves, tropical cyclones, storms, floods and droughts are among of the dangers that have made the global learning crisis worse, new UNICEF analysis has shown.

    Coinciding with the International Day of Education, the UN agency released data showing that at least one in seven students had their schooling disrupted because of climate hazards in 2024.

    Multiple closures

    Of the 85 countries affected, 23 experienced multiple rounds of school closures and 74 per cent of all those affected students live in low and lower-middle-income countries.

    South Asia was the most affected region in 2024 with 128 million students impacted by climate-related school disruptions. East Asia and the Pacific region followed, impacting 50 million students.

    In 2024, heatwaves were the most significant climate hazard to affect schooling, concerning around 171 million students.

    Nigeria humanitarian response plan aims to help 3.6 million people: OCHA

    To Nigeria, where UN aid teams have launched a humanitarian appeal which again focuses on the northeastern states of Borno, Adamawa and Yobe – the Bay states -where conflict, climate shocks and economic instability continue to blight communities’ wellbeing.

    OCHA, the UN aid coordination office, said that the target this year is to reach 3.6 million people in the northeast with health services, food, water, sanitation and hygiene.

    Nutrition for children is also part of the $910 million appeal, along with support for protection, education and other basic services.

    Funding challenge

    To absorb declining global funding, OCHA insisted that the Nigeria plan aims to make scarce resources go further, by supporting those delivering assistance locally more directly – and by shifting to cash and voucher assistance where possible.

    A key part of the aid appeal includes prevention work to lessen the impact of floods and disease outbreaks.

    MIL OSI United Nations News –

  • MIL-OSI Canada: Prime Minister announces a change to the Ministry

    Source: Government of Canada – Prime Minister

    The Prime Minister, Justin Trudeau, today announced a change to the Ministry:

    • Steven MacKinnon, Minister of Employment, Workforce Development and Labour, will serve concurrently as Leader of the Government in the House of Commons.

    Minister MacKinnon previously served as Leader of the Government in the House of Commons and accumulated a wealth of experience building consensus and working with partners to pass legislation. With this renewed mandate, he will bring a collaborative and effective approach to deliver results for Canadians.

    Minister MacKinnon replaces Karina Gould, who had been serving as Leader of the Government in the House of Commons since 2023.

    Associated Link

    MIL OSI Canada News –

  • MIL-OSI Security: U.S. Marshals Arrest Memphis Murder Suspect in Arkansas

    Source: US Marshals Service

    Memphis, TN – The U.S. Marshals Service (USMS) captured a Memphis murder suspect, Styrone Walker, 36, in West Memphis, Arkansas.

    On January 2, 2025, Angelica Taylor was found stabbed to death in a motel in southwest Memphis. The case was investigated by the Memphis Police Department. On January 16, a warrant was issued for the arrest of Styrone Walker. The fugitive investigation was adopted by the USMS Two Rivers Violent Fugitive Task Force (TRVFTF) in Memphis.

    On the morning of January 24, the TRVFTF tracked Walker to the 2000 block of Jackson Heights Cove in West Memphis, Arkansas. With the assistance of the West Memphis Police Department, deputy marshals and task force officers found Walker at the residence and took him into custody without incident. He was transported to the Crittenden County Jail where he is being held pending extradition back to Tennessee.

    The U.S. Marshals Service Two Rivers Violent Fugitive Task Force is a multi-agency task force within Western Tennessee. The TRVFTF has offices in Memphis and Jackson, and its membership is primarily composed of Deputy U.S. Marshals, Shelby, Fayette, Tipton, and Gibson County Sheriff’s Deputies, Memphis and Jackson Police Officers, Tennessee Department of Correction Special Agents and the Tennessee Highway Patrol. Since 2021, the TRVFTF has captured approximately 3,000 violent offenders and sexual predators.

    MIL Security OSI –

  • MIL-OSI: Lake Shore Bancorp, Inc. Announces Fourth Quarter 2024 and Year End Financial Results

    Source: GlobeNewswire (MIL-OSI)

    DUNKIRK, N.Y., Jan. 24, 2025 (GLOBE NEWSWIRE) — Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), reported unaudited net income of $1.5 million, or $0.26 per diluted share, for the fourth quarter of 2024 compared to net income of $749,000, or $0.13 per diluted share, for the fourth quarter of 2023. For the year ended December 31, 2024, the Company reported unaudited net income of $4.9 million, or $0.88 per diluted share, as compared to $4.8 million, or $0.82 per diluted share for the year ended December 31, 2023. The Company’s 2024 financial performance was positively impacted by a decrease in non-interest expenses as a result of efforts to optimize operating expenses while reducing its reliance on wholesale funding by $41.0 million.

    “2024 was a momentous year for Lake Shore as we achieved our goal to exit early the OCC’s Consent Order, reinstituted quarterly dividend payments to shareholders and grew earnings per share,” stated Kim C. Liddell, President, CEO, and Director. “We anticipate a challenging earnings environment in 2025 and will continue efforts to steadily increase value for our shareholders.”

    Fourth Quarter 2024 and Full Year Financial Highlights:

    • Net income increased to $1.5 million during the fourth quarter of 2024, an increase of $720,000, or 96.1%, when compared to the fourth quarter of 2023. Net income was positively impacted by an increase in the credit to the provision for credit losses of $581,000, partially offset by a decrease in net interest income of $217,000, or 3.9%;
    • Net income increased to $4.9 million during the year ended December 31, 2024, an increase of $111,000, or 2.3%, when compared to the year ended December 31, 2023. Net income was positively impacted by a decrease in non-interest expense of $1.8 million, or 8.4%, and an increase in non-interest income of $669,000, or 25.4%;
    • Net interest margin increased to 3.31% during the fourth quarter of 2024, an increase of three basis points when compared to net interest margin of 3.28% during the third quarter of 2024;
    • Reduced reliance on wholesale funding by not renewing $16.0 million of brokered CDs and repaying $25.0 million of FHLBNY borrowings during the year ended December 31, 2024;
    • At December 31, 2024 and December 31, 2023, the Company’s percentage of uninsured deposits to total deposits was 13.5% and 12.8%, respectively;
    • Book value per share increased 3.3% to $15.67 per share at December 31, 2024 as compared to $15.17 per share at December 31, 2023; and
    • The Bank’s capital position remains “well capitalized” with a Tier 1 Leverage ratio of 13.83% and a Total Risk-Based Capital ratio of 18.79% at December 31, 2024.

    Net Interest Income

    Net interest income for the fourth quarter of 2024 marginally decreased by $42,000, or 0.8%, to $5.3 million as compared to $5.4 million for the third quarter of 2024 and decreased $217,000, or 3.9%, as compared to $5.6 million for the fourth quarter of 2023. Net interest margin and interest rate spread were 3.31% and 2.72%, respectively, for the fourth quarter of 2024 as compared to 3.28% and 2.67%, respectively, for the third quarter of 2024 and 3.34% and 2.83%, respectively, for the fourth quarter of 2023.

    Net interest income for the year ended December 31, 2024 decreased $3.3 million, or 13.5%, to $21.1 million as compared to $24.4 million for the year ended December 31, 2023. Net interest margin and interest rate spread were 3.21% and 2.62%, respectively, for the year ended December 31, 2024 as compared to 3.62% and 3.23%, respectively, for the year ended December 31, 2023.

    Interest income for the fourth quarter of 2024 was $8.6 million, a decrease of $261,000, or 2.9%, compared to $8.9 million for the third quarter of 2024, and a decrease of $23,000, or 0.3%, compared to $8.6 million for the fourth quarter of 2023.

    The decrease in interest income from the prior quarter was primarily due to a decrease in the average balance of interest-earning assets of $11.8 million, or 1.8%, as well as a six basis points decrease in the average yield on interest-earning assets. Interest earned on interest-earning deposits decreased by $217,000, or 30.3%, due to a 65 basis points decrease in average yield and an $11.2 million decrease in the average balance of interest-earning deposits during the fourth quarter of 2024.

    The decrease in interest income from the prior year quarter was primarily due to a $20.3 million, or 3.0%, decrease in the average balance of interest-earning assets. The decrease was partially offset by a 15 basis points increase in the average yield on interest-earning assets. During the fourth quarter of 2024 as compared to the same period in 2023, there was a $92,000 decrease in interest earned on interest-earning deposits due to a 65 basis points decrease in the average yield earned on interest earning deposits and a $51,000 decrease in interest earned on securities due to a 36 basis points decrease in the average yield on the securities portfolio. These decreases were partially offset by a $120,000 increase in interest income on loans due to a 28 basis points increase in the average yield on loans.

    Interest income for the year ended December 31, 2024 was $34.8 million, an increase of $1.0 million, or 3.1%, compared to $33.8 million for the year ended December 31, 2023. The increase was due to a 28 basis points increase in the average yield on interest-earning assets primarily due to an increase in the average interest rate earned on loans. During the year ended December 31, 2024 as compared to 2023, there was a $704,000 increase in interest income on loans due to a 32 basis points increase in the average yield on loans, partially offset by a decrease in the average balance of loans of $19.8 million, or 3.5%. Interest income on interest-earning deposits increased to $2.5 million in 2024, an increase of $655,000, or 36.3%, from $1.8 million in 2023, due to a 17 basis points increase in average yield and an $11.7 million increase in the average balance of interest-earning deposits.

    Interest expense for the fourth quarter of 2024 was $3.2 million, a decrease of $219,000, or 6.3%, from the third quarter of 2024, and an increase of $194,000, or 6.4%, from $3.1 million for the fourth quarter of 2023.

    The decrease in interest expense when compared to the previous quarter was primarily due to a $11.7 million, or 2.3%, decrease in the average balance of interest-bearing liabilities and an 11 basis points decrease in the average rate paid. During the fourth quarter of 2024 as compared to the previous quarter, interest expense on deposits decreased by $176,000, or 5.3%, due to a $1.8 million decrease in the average balance of deposits and a 13 basis points decrease in the average rate paid on deposit accounts. Average interest-bearing deposit balances were $487.5 million, a 0.4% decrease during the fourth quarter of 2024 when compared to the previous quarter due to a decrease in the average balance of all deposit categories with the exception of money market accounts. Interest expense on borrowed funds and other interest-bearing liabilities decreased by $43,000 due to a $9.8 million, or 48.0%, decrease in the average balance of borrowed funds and other interest-bearing liabilities due to the repayment of our FHLBNY borrowings during the second half of 2024.

    The increase in interest expense when compared to the prior year quarter was primarily due to a 26 basis points increase in average interest paid on interest-bearing liabilities. During the fourth quarter of 2024 as compared to the same period in 2023, there was a $324,000 increase in interest paid on time deposit accounts due to a 60 basis points increase in the average interest rate paid on time deposits. The increase in the average rate paid on time deposit accounts was primarily due to the increase in market interest rates and deposit competition. Average deposit balances increased 0.9% during the fourth quarter of 2024 from the fourth quarter of 2023, due to an increase in average money market accounts when compared to the same period of 2023. During the fourth quarter of 2024, interest expense on borrowed funds and other interest-bearing liabilities decreased by $212,000, or 66.7%, compared to the fourth quarter of 2023, primarily due to a $25.8 million decrease in average borrowed funds and other interest-bearing liabilities outstanding due to the repayment of our FHLBNY borrowings during 2024.

    Interest expense for the year ended December 31, 2024 was $13.7 million, an increase of $4.3 million, or 46.2%, from $9.4 million for the year ended December 31, 2023. The increase in interest expense was primarily due to an 89 basis points increase in average interest paid on interest-bearing liabilities. During the year ended December 31, 2024 as compared to 2023, there was a $3.1 million increase in interest paid on time deposit accounts due to a 122 basis points increase in the average interest rate paid on time deposits along with an increase in average time deposit balances of $14.6 million, or 7.1%. The increase in the average rate paid on time deposit accounts was primarily due to the increase in market interest rates and deposit competition over the course of 2023 and into 2024. Average interest-bearing deposit balances were $491.9 million, a 1.2% increase during the year ended December 31, 2024, resulting from an increase in average time deposits and average money market accounts since December 31, 2023. During the year ended December 31, 2024, interest expense on borrowed funds and other interest-bearing liabilities decreased by $664,000, or 50.0%, compared to the year ended December 31, 2023, primarily due to a $17.2 million decrease in average borrowed funds and other interest-bearing liabilities outstanding due to the repayment of our FHLBNY borrowings during 2024.

    Non-Interest Income

    Non-interest income was $1.1 million for the fourth quarter of 2024, an increase of $277,000, or 35.0%, as compared to $791,000 for the third quarter of 2024, and an increase of $145,000, or 15.7%, as compared to $923,000 for the fourth quarter of 2023. The increase from the prior quarter was primarily due to a $161,000 increase in earnings on annuity assets in connection with the purchase of annuities during the fourth quarter 2024, a $65,000 increase in earnings on bank-owned life insurance during the fourth quarter as the result of the recognition of a death benefit, and an increase of $51,000 in unrealized gains on equity securities held in the Bank’s investment portfolio. The increase from the prior year quarter was primarily due to a $161,000 increase in earnings on annuity assets in connection with the purchase of annuities during the fourth quarter of 2024.

    Non-interest income was $3.3 million for the year ended December 31, 2024, an increase of $669,000, or 25.4%, as compared to the year ended December 31, 2023. The increase was primarily due to a $313,000 increase in earnings on bank-owned life insurance in connection with the restructuring of bank-owned life insurance during the fourth quarter of 2023 and the recognition of death benefits during the second half of 2024, as well as a $161,000 increase in earnings on annuities purchased in the fourth quarter of 2024. The increases were partially offset by a decrease in debit card fees of $30,000, or 3.5% during the year ended December 31, 2024 when compared to the year ended December 31, 2023.

    Non-Interest Expense

    Non-interest expense was $5.3 million for the fourth quarter of 2024, an increase of $72,000, or 1.4%, as compared to $5.2 million for the fourth quarter of 2023. The increase from the prior year quarter was primarily related to an increase in salaries and wages expense of $406,000, or 14.0%, which was partially offset by all other non-interest expense categories, with the exception of postage and supplies expense.

    Non-interest expense was $20.0 million for the year ended December 31, 2024, a decrease of $1.8 million, or 8.4%, as compared to $21.8 million for the year ended December 31, 2023. The decrease primarily related to a decline in professional services expenses of $1.0 million, or 41.8%, as a result of a decrease in the use of external consultants. Advertising costs decreased by $484,000, or 83.7%, due to a decrease in marketing spending, and FDIC insurance expense decreased by $317,000, or 28.5%, during the year ended December 31, 2024 due to a decrease in premium assessments. Additionally, occupancy and equipment costs decreased by $194,000, or 6.7%, as the result of efforts to optimize operating expenses. These decreases were partially offset by an increase in salaries and employee benefits expense of $198,000, or 1.8%, as well as an increase in data processing costs of $41,000, or 2.3%, for the year ended December 31, 2024 when compared to the year ended December 31, 2023.

    Income Tax Expense

    Income tax expense was $278,000 for the fourth quarter of 2024, an increase of $20,000, or 7.8%, as compared to $258,000 for the third quarter of 2024, and a decrease of $283,000, or 50.4%, as compared to $561,000 for the fourth quarter of 2023. The increase in income tax expense from the prior quarter was primarily related to the increase in taxable income earned during the current quarter. The decrease in income tax expense from the prior year quarter was due to a restructuring of bank-owned life insurance in 2023 which resulted in additional taxable income in 2023 and an increase in non-taxable income in 2024 as the result of higher earnings on policies owned.

    Income tax expense was $935,000 for the year ended December 31, 2024, a decrease of $464,000, or 33.2%, as compared to $1.4 million for the year ended December 31, 2023. The decrease in income tax expense for the year ended December 31, 2024 when compared to the year ended December 31, 2023 was due to a restructuring of bank-owned life insurance in 2023 which resulted in additional taxable income in 2023 and an increase in non-taxable income in 2024 as the result of higher earnings on policies owned.

    Credit Quality

    The Company’s allowance for credit losses on loans was $5.1 million as of December 31, 2024 as compared to $6.5 million as of December 31, 2023. The Company’s allowance for credit losses on unfunded commitments was $314,000 as of December 31, 2024 as compared to $485,000 as of December 31, 2023. Non-performing assets as a percent of total assets increased to 0.55% at December 31, 2024 as compared to 0.47% at December 31, 2023, due to a decrease in total assets of $39.6 million, or 5.5%, and an increase in non-performing assets of $423,000, or 12.5%. The Company’s allowance for credit losses on loans as a percent of net loans was 0.93% at December 31, 2024 and 1.16% at December 31, 2023.

    The Company recorded a credit to the provision for credit losses of $613,000 for the fourth quarter of 2024 and $1.5 million for the year ended December 31, 2024. For the year ended December 31, 2024, $1.3 million of the credit to the provision for credit losses related to the loan portfolio and $171,000 related to the reserve for unfunded commitments.

    The decrease in the allowance for credit losses on loans and the corresponding credit to the provision for credit losses recognized during the year ended December 31, 2024 was the result of a decrease in the quantitative loss factors derived from historical loss rates calculated in the vintage model as well as a decrease in the qualitative loss factors derived from both current and forecasted economic trends.

    Balance Sheet Summary

    Total assets at December 31, 2024 were $685.5 million, a $39.6 million decrease, or 5.5%, as compared to $725.1 million at December 31, 2023. Cash and cash equivalents decreased by $20.6 million, or 38.3%, from $53.7 million at December 31, 2023 to $33.1 million at December 31, 2024. The decrease was primarily due to a decrease in long-term debt due to the repayment of FHLBNY borrowings of $25.0 million in 2024 and a decrease in total deposits of $17.9 million due to the non-renewal of $16.0 million of brokered CDs in 2024. The decrease in cash and cash equivalents was partially offset by a decrease in net loans of $11.2 million, or 2.0%. Securities available for sale were $56.5 million at December 31, 2024 as compared to $60.4 million at December 31, 2023 primarily due to repayments during 2024 and a decrease in the market value of the securities. Net loans receivable at December 31, 2024 and December 31, 2023 were $544.6 million and $555.8 million, respectively. Total deposits at December 31, 2024 were $573.0 million, a decrease of $17.9 million, or 3.0%, compared to $590.9 million at December 31, 2023. Total borrowings decreased to $10.3 million at December 31, 2024, a decrease of $25.0 million, or 70.9%, as compared to $35.3 million as of December 31, 2023.

    Stockholders’ equity at December 31, 2024 was $89.9 million, a $3.6 million increase, or 4.2%, as compared to $86.3 million at December 31, 2023. The increase in stockholders’ equity was primarily attributed to $4.9 million in net income earned during 2024. 

    About Lake Shore

    Lake Shore Bancorp, Inc. (NASDAQ Global Market: LSBK) is the mid-tier holding company of Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has ten full-service branch locations in Western New York, including four in Chautauqua County and six in Erie County. The Bank offers a broad range of retail and commercial lending and deposit services. The Company’s common stock is traded on the NASDAQ Global Market as “LSBK”. Additional information about the Company is available at http://www.lakeshoresavings.com.

    Safe-Harbor

    This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates and projections about the Company’s and the Bank’s industry, and management’s beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify forward-looking statements. Such statements reflect management’s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve and are subject to significant risks, contingencies, and uncertainties, many of which are difficult to predict and are generally beyond our control including, but not limited to, compliance with the Written Agreement with the Federal Reserve Bank of Philadelphia, data loss or other security breaches, including a breach of our operational or security systems, policies or procedures, including cyber-attacks on us or on our third party vendors or service providers, economic conditions, the effect of changes in monetary and fiscal policy, inflation, unanticipated changes in our liquidity position, climate change, increased unemployment, deterioration in the credit quality of the loan portfolio and/or the value of the collateral securing repayment of loans, reduction in the value of investment securities, the cost and ability to attract and retain key employees, regulatory or legal developments, tax policy changes, and our ability to implement and execute our business plan and strategy and expand our operations. These factors should be considered in evaluating forward looking statements and undue reliance should not be placed on such statements, as our financial performance could differ materially due to various risks or uncertainties. We do not undertake to publicly update or revise our forward-looking statements if future changes make it clear that any projected results expressed or implied therein will not be realized.

    Source: Lake Shore Bancorp, Inc.
    Category: Financial

    Investor Relations/Media Contact
    Taylor M. Gilden
    Chief Financial Officer and Treasurer
    Lake Shore Bancorp, Inc.
    31 East Fourth Street
    Dunkirk, New York 14048
    (716) 366-4070 ext. 1065

       
    Selected Financial Condition Data  
       
      December 31,     December 31,  
       2024
    		      2023
    		  
        (Unaudited)  
        (Dollars in thousands)  
                   
    Total assets $   685,504     $   725,118  
    Cash and cash equivalents     33,131         53,730  
    Securities available for sale     56,495         60,442  
    Loans receivable, net     544,620         555,828  
    Deposits     572,978         590,924  
    Long-term debt     10,250         35,250  
    Stockholders’ equity     89,868         86,273  
       
    Statements of Income  
       
        Three Months Ended     Years Ended  
        December 31,     December 31,  
        2024       2023       2024       2023  
      (Unaudited)  
      (Dollars in thousands, except per share amounts)  
    Interest income $   8,590     $   8,613     $   34,804     $   33,755  
    Interest expense     3,249         3,055         13,741         9,397  
    Net interest income     5,341         5,558         21,063         24,358  
    (Credit) provision for credit losses     (613 )       (32 )       (1,479 )       (1,043 )
    Net interest income after (credit) provision for credit losses     5,954         5,590         22,542         25,401  
    Total non-interest income     1,068         923         3,304         2,635  
    Total non-interest expense     5,275         5,203         19,980         21,817  
    Income before income taxes     1,747         1,310         5,866         6,219  
    Income tax expense     278         561         935         1,399  
    Net income $   1,469     $   749     $   4,931     $   4,820  
    Basic and diluted earnings per share $   0.26     $   0.13     $   0.88     $   0.82  
                                   
    Selected Financial Ratios                              
    Return on average assets     0.85 %       0.42 %       0.70 %       0.67 %
    Return on average equity     6.52 %       3.60 %       5.62 %       5.78 %
    Average interest-earning assets to average interest-bearing liabilities     129.46 %       127.96 %       127.88 %       128.06 %
    Interest rate spread     2.72 %       2.83 %       2.62 %       3.23 %
    Net interest margin     3.31 %       3.34 %       3.21 %       3.62 %
       
    Average Balance Sheets, Interest, and Rates (Quarterly Comparison)  
       
        For the Quarter Ended     For the Quarter Ended  
        December 31, 2024     December 31, 2023  
        Average     Interest Income/     Yield/     Average     Interest Income/     Yield/  
        Balance     Expense     Rate(2)     Balance     Expense     Rate(2)  
        (Unaudited)  
        (Dollars in thousands)  
    Interest-earning assets:                                            
    Interest-earning deposits & federal funds sold   $   43,366     $   499       4.60 %   $   45,063     $   591       5.25 %
    Securities(1)       61,137         388       2.54 %       60,635         439       2.90 %
    Loans, including fees       540,376         7,703       5.70 %       559,432         7,583       5.42 %
    Total interest-earning assets       644,879         8,590       5.33 %       665,130         8,613       5.18 %
    Other assets       49,207                       47,143                
    Total assets   $   694,086                   $   712,273                
                                                 
    Interest-bearing liabilities                                            
    Demand & NOW accounts   $   64,465     $   15       0.09 %   $   72,182     $   18       0.10 %
    Money market accounts       153,407         912       2.38 %       130,813         823       2.52 %
    Savings accounts       55,451         9       0.06 %       66,115         13       0.08 %
    Time deposits       214,150         2,207       4.12 %       214,203         1,883       3.52 %
    Borrowed funds & other interest-bearing liabilities       10,641         106       3.98 %       36,476         318       3.49 %
    Total interest-bearing liabilities       498,114         3,249       2.61 %       519,789         3,055       2.35 %
    Other non-interest bearing liabilities       105,881                       109,309                
    Stockholders’ equity       90,091                       83,175                
    Total liabilities & stockholders’ equity   $   694,086                   $   712,273                
    Net interest income           $   5,341                   $   5,558        
    Interest rate spread                     2.72 %                     2.83 %
    Net interest margin                     3.31 %                     3.34 %

    (1) The tax equivalent adjustment for bank qualified tax exempt municipal securities, using a federal statutory rate of 21%, results in rates of 2.91% and 3.80% for the three months ended December 31, 2024 and 2023, respectively.
    (2) Annualized.

       
    Average Balance Sheets, Interest, and Rates (Annual Comparison)  
       
        For the Year Ended     For the Year Ended  
        December 31, 2024     December 31, 2023  
        Average     Interest Income/     Yield/     Average     Interest Income/     Yield/  
        Balance     Expense     Rate     Balance     Expense     Rate  
        (Unaudited)  
        (Dollars in thousands)  
    Interest-earning assets:                                            
    Interest-earning deposits & federal funds sold   $   48,639     $   2,460       5.06 %   $   36,948     $   1,805       4.89 %
    Securities(1)       60,347         1,631       2.70 %       67,840         1,941       2.86 %
    Loans, including fees       547,525         30,713       5.61 %       567,319         30,009       5.29 %
    Total interest-earning assets       656,511         34,804       5.30 %       672,107         33,755       5.02 %
    Other assets       49,629                       46,057                
    Total assets   $   706,140                   $   718,164                
                                                 
    Interest-bearing liabilities                                            
    Demand & NOW accounts   $   67,023     $   64       0.10 %   $   76,495     $   75       0.10 %
    Money market accounts       144,926         3,811       2.63 %       132,816         1,914       1.44 %
    Savings accounts       59,095         40       0.07 %       70,600         47       0.07 %
    Time deposits       220,856         9,162       4.15 %       206,218         6,033       2.93 %
    Borrowed funds & other interest-bearing liabilities       21,465         664       3.09 %       38,701         1,328       3.43 %
    Total interest-bearing liabilities       513,365         13,741       2.68 %       524,830         9,397       1.79 %
    Other non-interest bearing liabilities       105,018                       109,907                
    Stockholders’ equity       87,757                       83,427                
    Total liabilities & stockholders’ equity   $   706,140                   $   718,164                
    Net interest income           $   21,063                   $   24,358        
    Interest rate spread                     2.62 %                     3.23 %
    Net interest margin                     3.21 %                     3.62 %

    (1) The tax equivalent adjustment for bank qualified tax exempt municipal securities, using a federal statutory rate of 21%, results in rates of 3.08% and 3.27% for the year ended December 31, 2024 and 2023, respectively.

     
    Selected Quarterly Financial Data
     
        As of or For the Three Months Ended  
        December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		     March 31,
    2024    		     December 31,
    2023    		  
        (Unaudited)  
        (Dollars in thousands, except per share amounts)  
    Selected Financial Condition Data                              
    Total assets   $ 685,504     $ 697,596     $ 711,042     $ 717,582     $ 725,118  
    Cash and cash equivalents     33,131       49,981       60,987       54,953       53,730  
    Securities available for sale     56,495       58,782       57,309       58,682       60,442  
    Loans receivable, net     544,620       539,005       544,337       555,455       555,828  
    Deposits     572,978       587,563       589,395       594,704       590,924  
    Long-term debt     10,250       10,250       23,250       25,250       35,250  
    Stockholders’ equity     89,868       89,877       86,932       86,510       86,273  
                                   
    Condensed Statements of Income                              
    Interest income   $ 8,590     $ 8,851     $ 8,754     $ 8,609     $ 8,613  
    Interest expense     3,249       3,468       3,548       3,476       3,055  
    Net interest income     5,341       5,383       5,206       5,133       5,558  
    (Credit) provision for credit losses     (613 )     (229 )     (285 )     (352 )     (32 )
    Net interest income after (credit) provision for credit losses     5,954       5,612       5,491       5,485       5,590  
    Total non-interest income     1,068       791       738       707       923  
    Total non-interest expense     5,275       4,813       4,897       4,995       5,203  
    Income before income taxes     1,747       1,590       1,332       1,197       1,310  
    Income tax expense     278       258       216       183       561  
    Net income   $ 1,469     $ 1,332     $ 1,116     $ 1,014     $ 749  
    Basic and diluted earnings per share   $ 0.26     $ 0.24     $ 0.19     $ 0.17     $ 0.13  
                                   
    Selected Financial Ratios                              
    Return on average assets     0.85 %     0.76 %     0.63 %     0.57 %     0.42 %
    Return on average equity     6.52 %     6.03 %     5.19 %     4.69 %     3.60 %
    Average interest-earning assets to average interest-bearing liabilities     129.46 %     128.81 %     127.00 %     126.33 %     127.96 %
    Interest rate spread     2.72 %     2.67 %     2.56 %     2.55 %     2.83 %
    Net interest margin     3.31 %     3.28 %     3.14 %     3.10 %     3.34 %
    Efficiency ratio     82.30 %     77.96 %     82.39 %     85.53 %     80.24 %
                                   
    Asset Quality Ratios:                              
    Non-performing loans as a percent of total net loans     0.80 %     0.74 %     0.73 %     0.71 %     0.60 %
    Non-performing assets as a percent of total assets     0.55 %     0.57 %     0.56 %     0.55 %     0.47 %
    Allowance for credit losses as a percent of net loans     0.93 %     1.01 %     1.08 %     1.12 %     1.16 %
    Allowance for credit losses as a percent of non-performing loans     134.91 %     137.03 %     148.20 %     159.19 %     193.09 %
                                   
    Share Information:                              
    Common stock, number of shares outstanding     5,735,226       5,737,036       5,737,036       5,684,784       5,686,288  
    Treasury stock, number of shares held     1,101,288       1,099,478       1,099,478       1,151,730       1,150,226  
    Book value per share   $ 15.67     $ 15.67     $ 15.15     $ 15.22     $ 15.17  
    Tier 1 leverage ratio     13.83 %     13.37 %     13.02 %     12.87 %     12.68 %
    Total risk-based capital ratio     18.79 %     18.85 %     18.64 %     18.13 %     17.77 %

    The MIL Network –

  • MIL-OSI: Columbus Acquisition Corp Announces Closing of $60 Million Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    New York, Jan. 24, 2025 (GLOBE NEWSWIRE) — Columbus Acquisition Corp (the “Company”), a blank check company incorporated in the Cayman Islands, today announced the closing of its initial public offering of 6,000,000 units at a price of $10.00 per unit for aggregate gross proceeds of $60 million. Each unit consists of one ordinary share and one right to receive one-seventh of one ordinary share upon consummation of an initial business combination.

    The units commenced trading on The Nasdaq Global Market (“NASDAQ”) under the ticker symbol “COLAU” on January 23, 2025. Once the securities comprising the units begin separate trading, the ordinary shares and rights will be listed on NASDAQ under the symbols “COLA” and “COLAR,” respectively.

    A.G.P./Alliance Global Partners acted as the sole book-running manager for the offering. The Benchmark Company, LLC acted as the co-manager for the offering.

    The Company has granted the underwriters a 45-day option to purchase up to 900,000 units at the initial public offering price to cover over-allotments, if any.

    Robinson & Cole LLP served as the U.S. counsel to Columbus Acquisition Corp and Sichenzia Ross Ference Carmel LLP served as the U.S. counsel to the representative of the underwriters in this offering.

    A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 22, 2025. The offering has been made only by means of a prospectus, copies of which may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com or by visiting EDGAR on the SEC’s website at http://www.sec.gov.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No securities regulatory authority has either approved or disapproved of the contents of this press release.

    About Columbus Acquisition Corp

    The Company is a blank check company incorporated in the Cayman Islands, sponsored by Hercules Capital Management VII Corp, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company intends to identify a prospective target business which will not be limited to a particular industry or geographic location.

    Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering, the underwriters’ exercise of over-allotment option, the anticipated use of the net proceeds thereof and the Company’s search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the initial public offering filed with the SEC. Copies are available on the SEC’s website, http://www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Contacts:

    Fen Zhang
    Chairman and Chief Executive Officer
    Email: eric.zhang@hercules.global
    Tel: (+1) 949 899 1827

    The MIL Network –

  • MIL-OSI: Ninepoint Partners Announces January 2025 Cash Distributions for ETF Series Securities

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint Partners”) today announced the January 2025 cash distributions for its ETF Series securities. The record date for the distributions is January 31, 2025. All distributions are payable on February 7, 2025.

    The per-unit January distributions are detailed below:

    About Ninepoint Partners

    Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.

    For more information on Ninepoint Partners LP, please visit http://www.ninepoint.com or for inquiries regarding the offering, please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.

    Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.

    The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund’s performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of

    capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.

    Sales Inquiries:

    Ninepoint Partners LP
    Neil Ross
    416-945-6227
    nross@ninepoint.com

    The MIL Network –

  • MIL-OSI: Gouverneur Bancorp, Inc. Announces Fiscal 2025 First Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    GOUVERNEUR, N.Y., Jan. 24, 2025 (GLOBE NEWSWIRE) — Gouverneur Bancorp, Inc. (OTCQB: GOVB) (the “Company”), the holding company for Gouverneur Savings and Loan Association (the “Bank”), today announced the Company’s results for the first quarter of fiscal year 2025 ended December 31, 2024.

    The Company reported net income of $160,000, or $0.15 per basic and diluted share, for the quarter ended December 31, 2024, compared to net income of $118,000, or $0.11 per basic and diluted share, for the quarter ended December 31, 2023.

    Summary of Financial Results

    Our results of operations depend primarily on our net interest income. Net interest income is the difference between the interest income we earn on our interest-earning assets, consisting primarily of loans and securities, and the interest we pay on our interest-bearing liabilities, consisting of savings and club accounts, NOW and money market accounts and time certificates. Our results of operations also are affected by our provisions for credit losses, non-interest income and non-interest expense. Non-interest income currently consists primarily of service charges, earnings on bank owned life insurance and loan servicing fees. Non-interest expense currently consists primarily of salaries and employee benefits, directors’ fees, occupancy and data processing expense and professional fees. Our results of operations also may be affected significantly by general and local economic and competitive conditions, changes in market interest rates, governmental policies and actions of regulatory authorities.

    Total assets decreased by $0.5 million or 0.25%, from $197.3 million at September 30, 2024 to $196.8 million at December 31, 2024. Securities available for sale decreased $1.8 million, or 4.00%, from $45.3 million as of September 30, 2024 to $43.5 million as of December 31, 2024 as the Bank received principal paydowns and maturities along with a decrease in the market value as market rates fluctuate. Net loans increased by $0.7 million or 0.54%, from September 30, 2024 to December 31, 2024. The Bank made a $15,000 provision for credit loss during the first quarter of fiscal 2025, a decrease from the $70,000 provision made in the same period of fiscal 2024.

    Deposits decreased $0.2 million or 0.14%, to $159.7 million at December 31, 2024 from $159.9 million at September 30, 2024 due to seasonal fluctuations. The Bank currently holds no Federal Home Loan Bank (FHLB) advances or brokered deposits.

    Shareholders’ equity was $31.7 million at December 31, 2024, representing a decrease of 3.12% from the September 30, 2024 balance of $32.8 million. The decrease in shareholders’ equity was primarily a result of a $1.1 million decrease to the market value of the securities portfolio included in accumulated other comprehensive loss. The Company declared dividends of $0.08 per share totaling $89,000 during the three months ended December 31, 2024. The Company’s book value was $28.68 per common share based on 1,107,134 shares issued and 1,106,790 shares outstanding at December 31, 2024. The Company’s book value was $29.59 per common share based on 1,107,134 shares issued and outstanding at September 30, 2024.

    Total interest income increased $38,000, or 1.79%, from $2.1 million for the quarter ended December 31, 2023 to $2.2 million for the quarter ended December 31, 2024. Interest income on loans increased $91,000, or 5.68%, from $1.6 million for the quarter ended December 31, 2023 to $1.7 million for the quarter ended December 31, 2024 due to an increase in market rates resulting in higher interest rates on loan originations and repricing.

    Total interest expense increased $77,000, or 23.77%, from $324,000 for the quarter ended December 31, 2023 to $401,000 for the quarter ended December 31, 2024. Interest expense on deposits increased $158,000, from $243,000 for the quarter ended December 31, 2023 to $401,000 for the quarter ended December 31, 2024. Interest expense on FHLB borrowings decreased $131,000 as the Bank currently holds no FHLB advances.

    Net interest spread, the difference between the rate earned on interest-earning assets and the rate paid on interest-bearing liabilities, was 3.78% for the quarter ended December 31, 2024 and 3.84% for the quarter ended December 31, 2023 as interest rates on interest bearing deposits increased faster than the interest rates on loans during fiscal 2024.

    Non-interest income increased $97,000, from $147,000 for the quarter ended December 31, 2023 to $244,000 for the quarter ended December 31, 2024. This includes the unrealized market value loss on swap agreements held with FHLBNY of $9,000 and $143,000 for the quarters ended December 31, 2024 and 2023, respectively. Other non-interest income increased $52,000 compared to the same period last year, primarily due to the recognition of additional income from a tax-related refund.

    Financial and Operational Metrics (GAAP)

      12/31/2024   09/30/2024
      (In Thousands)
      (unaudited)    
    Statement of Condition      
    Assets      
    Cash and Cash Equivalents $ 7,013   $ 6,370
    Securities Available-for-Sale   43,534     45,348
    Loans Receivable, Net of Allowance for Credit Losses and Deferred Loan Fees   124,927     124,257
    Premises and Equipment, Net   2,933     2,924
    Goodwill and Intangible Assets   5,808     5,901
    Accrued Interest Receivable and Other Assets   12,561     12,460
    Total Assets $ 196,776   $ 197,260
           
    Liabilities and Shareholders’ Equity      
    Deposits $ 159,672   $ 159,902
    Accrued Interest Payable and Other Liabilities   5,361     4,593
    Total Liabilities   165,033     164,495
           
    Common Stock (and related surplus)   6,501     6,498
    Retained Earnings   28,484     28,413
    Accumulated Other Comprehensive Loss   (2,737)     (1,606)
    Other Equity Capital Components   (505)     (540)
    Total Shareholders’ Equity   31,743     32,765
    Total Liabilities and Shareholders’ Equity $ 196,776   $ 197,260
           
           
      For the Quarter Ended
      12/31/2024   12/31/2023
      (In Thousands except per share data)
      (unaudited)
    Statement of Earnings      
    Interest Income $ 2,166   $ 2,128
    Interest Expense   401     324
    Net Interest Income   1,765     1,804
           
    Provision for Credit Loss   15     70
    Net Interest Income After Provision for Credit Loss   1,750     1,734
           
    Non-interest Income   244     147
    Non-interest Expenses   1,835     1,780
           
    Income Before Income Tax Benefit   159     101
    Income Tax Benefit   (1)     (17)
    Net Income $ 160   $ 118
           
    Performance Ratios      
    Basic and Diluted Earnings per Share $ 0.15   $ 0.11
    Annualized Return on Average Assets   0.32%     0.23%
    Annualized Return on Average Equity   1.97%     1.61%
    Net Interest Spread   3.78%     3.84%
               

    About Gouverneur Bancorp, Inc.

    Gouverneur Bancorp, Inc. is the holding company for Gouverneur Savings and Loan Association, which is a New York chartered savings and loan association founded in 1892 that offers deposit and loan services for businesses, families and individuals. At December 31, 2024, Gouverneur Bancorp, Inc. had total assets of $196.8 million, total deposits of $159.7 million and total stockholders’ equity of $31.7 million.

    Forward-Looking Statements

    This press release may contain forward-looking statements, which can be identified by the use of words such as “believes,” “expects,” “anticipates,” “estimates” or similar expressions. Such forward-looking statements and all other statements that are not historic facts are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. These factors include, among others, the following: the ability to successfully integrate acquired entities, such as Citizens Bank of Cape Vincent, which we acquired on September 16, 2022, and realize expected cost savings associated with completed mergers and acquisitions; changes in interest rates; national and regional economic conditions; legislative and regulatory changes; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the size, quality and composition of the loan or investment portfolios; demand for loan products; deposit flows and our ability to effectively manage liquidity; competition; demand for financial services in our market area; changes in real estate market values in our market area; changes in relevant accounting principles and guidelines; our ability to attract and retain key employees; our ability to maintain the security of our data processing and information technology systems; and that the Company may not be successful in the implementation of its business strategy. Additionally, other risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the year ended September 30, 2024, which is available through the SEC’s EDGAR website located at http://www.sec.gov. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected.

    Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, the Company and the Bank assume no obligation to update any forward-looking statements.

    For more information, contact Robert W. Barlow, President and Chief Executive Officer at (315) 287-2600.

    The MIL Network –

  • MIL-OSI Global: Can Trump just order new names for Denali and the Gulf of Mexico? A geographer explains who decides what goes on the map

    Source: The Conversation – USA – By Innisfree McKinnon, Associate Professor of Geography, University of Wisconsin-Stout

    Known as Mount McKinley until 2015, Denali’s current name reflects what Native Alaskans call the mountain. Arterra/Universal Images Group via Getty Images

    President Donald Trump’s executive order to rename the Gulf of Mexico and Alaska’s Denali, the tallest peak in the country, has resulted in lots of discussion. While for some, such renaming might seem less important than the big problems the country faces, there is a formal process in the United States for renaming places, and that process is taken seriously.

    Usually, so people don’t get confused, official, agreed-upon names are used by the government. In the U.S., place names are standardized by the U.S. Board on Geographic Names, which is part of the U.S. Geological Survey, the agency in charge of making maps.

    In his executive order, Trump asks the Board on Geographic Names “to honor the contributions of visionary and patriotic Americans” and change its policies and procedures to reflect that.

    Usually, renaming a place starts locally. The people in the state or county propose a name change and gather support. The process in each state is different.

    Lake Bde Maka Ska, formerly Lake Calhoun, is the largest lake in Minneapolis.
    YinYang/E+ via Getty

    How to change a place name

    Minnesota recently changed the name of a large lake in Minneapolis to Bde Maka Ska, which the Minneapolis Park Board described as “a Dakota name for the lake that has been passed down in oral history for many years.”

    The board voted to change the name and took its request to the county commissioners. When the county agreed, the request was then sent to the Minnesota Department of Natural Resources, which made it official for Minnesota. Then, the state of Minnesota sent the request to the Board on Geographic Names, which made it official for the entire U.S.

    It’s a lot of paperwork for something so seemingly minor, but people get passionate about place names. It took 40 years to rename Denali from the name established in the late 19th century, Mount McKinley.

    The state of Alaska requested the name change in 1975, but the Board on Geographic Names didn’t take action. Members of the Ohio congressional delegation – President William McKinley was from Ohio – objected over many years to requests to rename the mountain, and the board did not act on those requests.

    The president appoints the secretary of the Interior Department. The secretary works with the heads of related agencies to appoint the Board on Geographic Names. Current committee policy states, “Input from State geographic names authorities, land
    management agencies, local governments, and Tribal Governments     are actively pursued.”

    In 2015, President Barack Obama named a new leader for the Department of the Interior, Sally Jewell. Just as Obama made a trip to Alaska in late August 2015, Jewell declared the name change official under a law that allows the secretary of the Interior to change a name if the board doesn’t act on the proposal in a “reasonable” amount of time.

    “This name change recognizes the sacred status of Denali to many Alaska Natives,” Jewell said. “The name Denali has been official for use by the State of Alaska since 1975, but even more importantly, the mountain has been known as Denali for generations. With our own sense of reverence for this place, we are officially renaming the mountain Denali in recognition of the traditions of Alaska Natives and the strong support of the people of Alaska.”

    If someone objects to a name change, they could ask the courts to rule on whether the name change was made legally. Going back to Bde Maka Ska, some people objected to changing the name from Lake Calhoun, so they took the state natural resources agency to court. Eventually, the Minnesota Supreme Court ruled that the name change was done correctly.

    Alaska’s two U.S. senators and prominent state figures have strongly objected to Trump’s renaming attempt.

    How not to change a place name

    Renaming the Gulf of Mexico is a different kind of case, however, from renaming a geographic place within U.S. borders.

    The gulf is not within the territorial U.S. On the coast, the first 12 miles from shore are considered part of that country, but outside of that is international waters.

    The Board on Geographic Names could change the name to Gulf of America on official U.S. maps, but there is no international board in charge of place names. Each country decides what to call places. And there is no official way for the U.S. to make other countries change the name.

    It’s possible that the U.S. could formally ask other countries to change the name, or even impose sanctions against countries that don’t comply.

    If the names were officially changed in the U.S., the government would use the new names in official documents, signage and maps. As for all the people and companies in the world that make maps, they usually use the official names. But there is nothing that would force them to, if they believed that a certain name is more widely recognized.

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

    – ref. Can Trump just order new names for Denali and the Gulf of Mexico? A geographer explains who decides what goes on the map – https://theconversation.com/can-trump-just-order-new-names-for-denali-and-the-gulf-of-mexico-a-geographer-explains-who-decides-what-goes-on-the-map-248112

    MIL OSI – Global Reports –

  • MIL-OSI Video: President Donald J. Trump Addresses the March for Life

    Source: United States of America – The White House (video statements)

    https://www.youtube.com/watch?v=k1_570XDQYw

    MIL OSI Video –

  • MIL-OSI United Nations: Secretary-General Appoints Hanna Serwaa Tetteh of Ghana Special Representative for Libya, Head of United Nations Support Mission in Libya

    Source: United Nations General Assembly and Security Council

    United Nations Secretary-General António Guterres announced today the appointment of Hanna Serwaa Tetteh of Ghana as his Special Representative for Libya and Head of the United Nations Support Mission in Libya (UNSMIL).

    She succeeds Abdoulaye Bathily of Senegal, who served as Special Envoy and Head of UNSMIL until May 2024.  The Secretary-General is grateful for his leadership, as well as to Deputy Special Representative, Stephanie Koury, who led the Mission in the interim period as Officer-in-Charge.

    Ms. Tetteh brings to this position decades of experience at the national, regional and international levels, including most recently as the Special Envoy of the Secretary-General for the Horn of Africa from 2022 until 2024.  Prior to this, she was the Special Representative of the Secretary-General to the African Union and Head of the United Nations Office to the African Union (UNOAU) from 2018 to 2020, having earlier served as Director-General of the United Nations Office at Nairobi.

    Before joining the United Nations, Ms. Tetteh was a senior member of the cabinet of the Government of Ghana as Minister for Foreign Affairs from 2013 to 2017, and member of the National Security Council and the Armed Forces Council.  She also served as Minister for Trade and Industry from 2009 to 2013.  During her tenure as Foreign Minister from 2014 to 2015, she was the Chairperson of the Council of Ministers as well as Chairperson of the Mediation and Security Council of the Economic Community of West African States (ECOWAS).  During her term as Minister for Trade and Industry, she was also a member of the Government’s economic management team, a member of the board of the Millennium Development Authority, a member of the National Development Planning Commission and the Chairperson of the Ghana Free Zones Board.

    Ms. Tetteh served as Member of Parliament in the National Democratic Congress (NDC) for the Awutu Senya Constituency from 2000 to 2005. She later returned to Parliament as the NDC Member of Parliament for the Awutu Senya West Constituency from 2013 to 2017.  She was subsequently appointed as Co-Facilitator in the High-Level Forum for the Revitalisation of the Agreement for the resolution of the conflict in South Sudan.

    Ms. Tetteh holds a Bachelor of Laws (LLB) degree from the University of Ghana, Legon, and after her post-graduate legal studies at the Ghana School of Law was called to the Bar in 1992.  She is fluent in English, Hungarian and Fante.

    __________

    * This supersedes Press Release SG/A/2100 of 22 February 2022.

    MIL OSI United Nations News –

  • MIL-OSI Security: 12 Indicted in Multi-Million Dollar Business Email Compromise Scheme

    Source: Office of United States Attorneys

    COLUMBIA, S.C. — A federal grand jury in Columbia returned a 12-count indictment alleging conspiracy, wire fraud, bank fraud, and money laundering against 12 individuals for defrauding multiple victims in a nationwide scheme.

    The indictment alleges that the defendants listed below were involved in a business email compromise scheme that defrauded the victims out of millions of dollars. These types of fraud target both companies and individuals.

    • Demani Jawara Bosket, 50, of Saluda
    • Nkem Ajoku 55, of Pflugerville, Texas
    • Walter Clayron Ruff Jr., 51, of Gaston
    • Tanya Lawshawn Bosket, 51, of Saluda
    • Jahbir Rolando Fowle, 45, of Charlotte, North Carolina
    • Anthony Jerome Savage, 46, of Charlotte, North Carolina
    • Micheal Raymond Bevans-Silva, 38, of Savannah, Georgia
    • Carlise Raymion Roland, 32, of Jacksonville, Florida,
    • Daniel Alexander Edwards, 51, of Jacksonville, Florida,
    • Danny Heard II, 41, of Jacksonville, Florida,
    • Raymone Tyshay Scott Sr., 48, of Jacksonville, Florida,
    • Jamian Joshaun Butler, 45, of Jacksonville, Florida,

    The perpetrators of these types of frauds typically employ the use of “spoofed” emails that appear to be the genuine email address of a legitimate business or banking institution. In reality, the email address is a slight variation of the true email address, and the victim is instead communicating with perpetuators of the scheme.

    The indictment alleges that the defendants accessed the victims’ computer systems to monitor email communications for potential financial transactions and bank transfers.  The defendants used this information to identify the victims’ points of contact, financial accounts, communications, and business practices. The defendants then used spoofed emails to impersonate internal personnel, business partners, vendors, or other interested parties. The defendants would then initiate payments or direct financial transfers to bank accounts they controlled. The defendants then shared and intermixed the stolen funds between their own bank accounts, before sending a portion of the money out of the country. The defendants are alleged to have victimized multiple individuals and businesses, including construction companies, private equity firms, title companies, and law firms in South Carolina, New Jersey, Florida, Texas, Pennsylvania, and Japan.

    The defendants face a maximum penalty of 30 years imprisonment and fines of $1,000,000. The defendants are scheduled to be arraigned on Feb. 4, 2025, at 10 a.m. before the Honorable Paige J. Gossett.

    The case was investigated by the U.S. Agency for International Development, the Internal Revenue Service Criminal Investigation, the Department of Homeland Security, and the U.S. Secret Service.  Assistant U.S. Attorneys Lothrop Morris and T. DeWayne Pearson are prosecuting the case. 

    All charges in the indictment are merely accusations and that defendants are presumed innocent unless and until proven guilty.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Cushing Man Sentenced to Serve Five Years in Federal Prison after Firearm and Stolen Truck, Log Splitter, and Other Items are Found on Property

    Source: Office of United States Attorneys

    OKLAHOMA CITY – JIM BOB STORY, 49, of Cushing, has been sentenced to serve 60 months in federal prison for illegal possession of a firearm after a previous felony conviction and receiving and concealing stolen property, announced U.S. Attorney Robert J. Troester.

    On April 3, 2024, a federal Grand Jury returned a two-count Indictment against Story, charging him with being a felon in possession of a firearm and receiving and concealing stolen property. According to public record, on February 21, 2024, officers with the Sac and Fox Nation Tribal Police Department received information that a stolen vehicle was being kept on Story’s property. After executing a search warrant, authorities recovered a rifle and ammunition, as well as other items previously reported as being stolen out of Cushing including a welder and a log splitter.

    Public record further reflects that Story has a lengthy criminal history that includes felony convictions for second-degree burglary in case number CF-2003-82 and possession of a controlled dangerous substance in case number CF-2002-204, both in Payne County District Court, and conspiracy to distribute methamphetamine in Lincoln County District Court case number CF-2004-195.

    This case is in federal court because Story is a member of the Sac and Fox Nation and these crimes took place on land held in trust for the Sac and Fox Nation.

    At the sentencing hearing on January 15, 2024, U.S. District Judge Jodi W. Dishman sentenced Story to serve 60 months in federal prison, followed by three years of supervised release. In announcing her sentence, Judge Dishman noted Story’s extensive criminal history and the need to deter Story from future crimes.

    This case is the result of an investigation by the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Sac and Fox Nation Tribal Police Department, and the Cushing Police Department. Assistant U.S. Attorney Tiffany Edgmon prosecuted the case.

    Reference is made to public filings for additional information.  

    MIL Security OSI –

  • MIL-OSI Security: Fentanyl Death in Indian Country Leads to Lawton Man’s Conviction for Fentanyl Distribution and Drug Conspiracy

    Source: Office of United States Attorneys

    OKLAHOMA CITY – A federal jury has convicted BREON MONTE BELLAMY, 36, of Lawton, Oklahoma, of distribution of fentanyl and drug conspiracy, announced U.S. Attorney Robert J. Troester.

    On September 4, 2024, a federal grand jury returned a two-count Superseding Indictment against Bellamy, charging him with distribution of fentanyl resulting in death and drug conspiracy resulting in death. On January 16, 2025, after a four-day trial, a federal jury found Bellamy guilty on the lesser-included offenses of distribution of fentanyl and drug conspiracy. Evidence presented at trial indicated that on August 21, 2023, Bellamy sold fentanyl to Reecy Bench, 22, at a casino in Lawton, Oklahoma.  Bench then gave a portion of the fentanyl to Joanie Wilson, 38, while still at the casino. The federal investigation suggested that some of this fentanyl was then distributed to another Stephens County resident who died of fentanyl and methamphetamine toxicity on August 23, 2023. Both Bench and Wilson have previously pleaded guilty to drug conspiracy and are awaiting sentencing.

    At sentencing, Bellamy faces up to 60 years in federal prison and a fine of up to $2,000,000.

    This case is in federal court, in part, because Bench is a member of the Choctaw Nation, and a portion of the crimes occurred within the boundaries of the Chickasaw Nation.

    This case is the result of an investigation by the Drug Enforcement Administration (DEA), the Stephens County Sheriff’s Office, and the Lawton Police Department, and demonstrates the importance of the DEA’s “One Pill Can Kill” campaign. More information about “One Pill Can Kill” can be found at https://www.dea.gov/onepill. Further information about the danger associated with fentanyl distribution and use can be found at https://www.youtube.com/watch?v=16O7TkhFH9k.

    Special Assistant U.S. Attorney Kaleigh Blackwell and Assistant U.S. Attorney Elizabeth Joynes are prosecuting the case.

    Reference is made to public filings for additional information.

    MIL Security OSI –

  • MIL-OSI Security: Porcupine Man Found Guilty of Shooting Deaths of Girlfriend and Unborn Baby

    Source: Office of United States Attorneys

    RAPID CITY – United States Attorney Alison J. Ramsdell announced that a jury has convicted McKenzie Big Crow, age 20, of Porcupine, South Dakota, of Involuntary Manslaughter, the Unborn Victims of Violence Act, and Possession of an Unregistered Firearm following a three-day jury trial in federal district court in Rapid City, South Dakota. The verdict was returned on January 23, 2025.

    The convictions relating to the shooting deaths each carry a maximum penalty of eight years’ imprisonment and/or a $250,000 fine, three years of supervised release, and a $100 special assessment to the Federal Crime Victims Fund. The firearm conviction carries a maximum penalty of 10 years’ imprisonment and/or a $250,000 fine, three years of supervised release, and a $100 special assessment to the Federal Crime Victims Fund.

    A federal grand jury indicted Big Crow in June of 2024 for Second Degree Murder, Unborn Victims of Violence Act, Discharge of a Firearm During the Commission of a Crime of Violence, and Possession of an Unregistered Firearm.

    On August 20, 2023, near Porcupine, Big Crow was illegally in possession of a Savage Arms Model 62, semiautomatic rifle. The barrel had been sawed off, and the defendant taped components of an Airsoft rifle to the gun to make it appear like an AK-47. Big Crow claimed he put the rifle in a backpack and that the gun discharged when he bumped the bag against a door. The gunshot struck 19-year-old Ashton Provost in the chest, killing her and her unborn child within minutes. The gun was later found hidden under Big Crow’s bed. On the day of the shooting, Big Crow had drugs in his system including marijuana, cocaine, MDMA, and methamphetamine.

    This case was investigated by the Federal Bureau of Investigation, the Oglala Sioux Tribe Department of Public Safety, and the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Assistant United States Attorney Heather Knox prosecuted the case.

    A presentence investigation was ordered, and a sentencing date has been set for April 25, 2025. The defendant was remanded to the custody of the U.S. Marshals Service. 

    MIL Security OSI –