NewzIntel.com

Category: Politics

  • MIL-OSI Europe: Text adopted – Setting up a special committee on the Housing Crisis in the European Union, and defining its responsibilities, numerical strength and term of office – P10_TA(2024)0066 – Wednesday, 18 December 2024 – Strasbourg

    Source: European Parliament

    The European Parliament,

    –  having regard to the proposal from the Conference of Presidents,

    –  having regard to the Treaty on European Union (TEU), in particular Article 3(3) thereof, and the Treaty on the Functioning of the European Union (TFEU), in particular Articles 9, 14, 148, 153, 160 and 168 thereof, and Protocol No 26 to the TEU and to the TFEU on services of general interest,

    –  having regard to the Charter of Fundamental Rights of the European Union,

    –  having regard to the European Pillar of Social Rights,

    –  having regard to its resolution of 21 January 2021 on access to decent and affordable housing for all(1),

    –  having regard to Rule 213 of its Rules of Procedure,

    A.  whereas the United Nations Universal Declaration of Human Rights includes the right to housing;

    B.  whereas the European Pillar of Social Rights states that access to social housing or housing assistance of good quality is to be provided for those in need and this is to be implemented at both Union and national level within their respective competences; whereas adequate shelters and services are to be provided to the homeless in order to promote their social inclusion; whereas the right to housing for people with disabilities deserves special protection and dedicated policies to ensure housing accessibility;

    C.  whereas the European Union is facing a housing crisis, with people of all ages across different income groups struggling with high prices and scarcity of affordable homes; whereas unaffordable housing is a matter of great concern for many Union citizens and prevents them, particularly young people, from starting an independent life; whereas that crisis affects people in all Member States and can have a negative impact on their health, well-being and living conditions;

    D.  whereas protecting private property and ensuring legal certainty for private owners, including best practices in relation to the fight against squatting, as well as protecting people from evictions, are important aspects at national level affecting housing availability and the right to housing in certain Member States;

    E.  whereas the Union has a number of competences relating to housing;

    F.  whereas there is a need to have an holistic approach on housing combining different policies dealt with in different committees within Parliament;

    1.  Decides to set up a special committee named ‘Special committee on the Housing Crisis in the European Union’ with the aim of proposing solutions for decent, sustainable and affordable housing, and that that committee shall carry out, in cooperation and consultation with the competent standing committees where their powers and responsibilities under Annex VI to the Rules of Procedure are concerned, the following responsibilities:

       (a) to map current housing needs across territories and population groups, particularly low and middle income groups, and to assess the impact of scarcity of housing on inequalities, affordability, demography, poverty and social exclusion, including using existing gender-disaggregated data;
       (b) to analyse the existing relevant Union, national, regional, and local housing policies with a focus on the availability of targeted instruments for social, sustainable and affordable housing in cities, islands and coastal and rural areas with a view to identifying and issuing recommendations, including policies dedicated to housing accessibility for people with disabilities and reduced mobility;
       (c) to analyse the impact of housing speculation and its economic consequences, as well as to propose follow-up actions;
       (d) to assess whether the trend in house prices and rents is adequately taken into account in the cost of living indicators and related policies;
       (e) to map and to assess the effectiveness of public and private Union and national resources, including existing Union funds dedicated to decent, sustainable and affordable housing and to the eradication of homelessness and to make recommendations, where relevant;
       (f) to analyse systemic issues with short-term accommodation rentals and their impact on the availability of affordable housing in particularly affected areas and to make relevant proposals;
       (g) to monitor the implementation of the Union legislation on data collection and sharing relating to short-term accommodation rental services, which has to be adopted at national level by 20 May 2026;
       (h) to analyse effects of Union policies that influence the availability and affordability of housing, including bottlenecks in current Union regulations with regard to investment capacity, on housing and social housing, State aid and supply chain shortages;
       (i) to assess potential barriers affecting the construction sector and their impact on the housing crisis;
       (j) to identify shortages in availability, sustainability and financing needs for affordable housing and the need for potential reforms;
       (k) to assess the impact of non-profit and limited-profit housing solutions, such as social or cooperative housing, on the affordability and accessibility of housing for different groups;
       (l) to assess policies and legislative proposals needed to improve the provision and availability of decent, sustainable and affordable housing, including by enabling new construction, housing reconversion and renovation programs, taking into consideration the potential of vacant buildings;
       (m) to map innovative technologies, processes, services and products to support the renovation wave, taking into account existing Union initiatives; to map where administrative and regulatory burdens are hampering the renovation wave, with the aim of reducing unnecessary regulatory burden while ensuring quality work in the construction sector and quality standards for affordable housing;
       (n) to contribute to the development and the future implementation of the European affordable housing plan and the European strategy for housing construction to be presented by the Commission;
       (o) to conduct hearings with experts from the Union institutions and competent authorities, international, national and regional institutions, non-governmental organisations and relevant sectors of the economy, taking into account the perspectives of a range of stakeholders;
       (p) to conduct visits to study best practices around Europe;

    2.  Decides that the special committee shall have 33 members;

    3.  Decides that the term of office of the special committee shall be 12 months and that that term shall start running from the date of its constituent meeting;

    4.  Instructs the special committee to present a final report at the end of its term of office focusing on the matters set out in paragraph 1.

    (1) OJ C 456, 10.11.2021, p. 145.

    MIL OSI Europe News –

  • MIL-OSI Europe: Text adopted – EC-Pacific States Interim Partnership Agreement: accession of Tuvalu – P10_TA(2024)0071 – Wednesday, 18 December 2024 – Strasbourg

    Source: European Parliament

    (Consent)

    The European Parliament,

    –  having regard to the draft Council decision (05757/2024),

    –  having regard to the Interim Partnership Agreement between the European Community, of the one part, and the Pacific States, of the other part(1),

    –  having regard to the request for consent submitted by the Council in accordance with the first subparagraph of Article 207(4), in conjunction with point (a)(v) of the second subparagraph of Article 218(6) of the Treaty on the Functioning of the European Union (C9‑0033/2024),

    –  having regard to Rule 107(1) and (4) and Rule 117(7) of its Rules of Procedure,

    –  having regard to the recommendation of the Committee on International Trade (A10-0025/2024),

    1.  Gives its consent to Tuvalu’s accession to the agreement;

    2.  Instructs its President to forward its position to the Council, the Commission and the governments and parliaments of the Member States and of Tuvalu.

    (1) OJ L 272, 16.10.2009, ELI: http://data.europa.eu/eli/agree_internation/2009/729/oj.

    MIL OSI Europe News –

  • MIL-OSI Europe: Text adopted – EC-Pacific States Interim Partnership Agreement: accession of Niue – P10_TA(2024)0070 – Wednesday, 18 December 2024 – Strasbourg

    Source: European Parliament

    (Consent)

    The European Parliament,

    –  having regard to the draft Council decision (07920/2024),

    –  having regard to the Interim Partnership Agreement between the European Community, of the one part, and the Pacific States, of the other part(1),

    –  having regard to the request for consent submitted by the Council in accordance with Article 207(4), first subparagraph, in conjunction with Article 218(6), second subparagraph, point (a)(v) of the Treaty on the Functioning of the European Union (C10‑0054/2024),

    –  having regard to Rule 107(1) and (4) and Rule 117(7) of its Rules of Procedure,

    –  having regard to the recommendation of the Committee on International Trade (A10-0024/2024),

    1.  Gives its consent to Niue’s accession to the agreement;

    2.  Instructs its President to forward its position to the Council, the Commission and the governments and parliaments of the Member States and of Niue.

    (1) OJ L 272, 16.10.2009, ELI: http://data.europa.eu/eli/agree_internation/2009/729/oj.

    MIL OSI Europe News –

  • MIL-OSI Europe: Text adopted – United Nations Convention on Transparency in Treaty-based Investor-State Arbitration – P10_TA(2024)0069 – Wednesday, 18 December 2024 – Strasbourg

    Source: European Parliament

    (Consent)

    The European Parliament,

    –  having regard to the draft Council decision (07011/2024),

    –  having regard to the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration (07012/2024),

    –  having regard to the request for consent submitted by the Council in accordance with Article 207(4) first subparagraph and Article 218(6) second subparagraph, point (a) of the Treaty on the Functioning of the European Union (C10‑0080/2024),

    –  having regard to Rule 107(1) and (4) and Rule 117(7) of its Rules of Procedure,

    –  having regard to the recommendation of the Committee on International Trade (A10-0021/2024),

    1.  Gives its consent to the conclusion of the agreement;

    2.  Instructs its President to forward its position to the Council, the Commission and the governments and parliaments of the Member States, as well as to the UNCITRAL Secretariat.

    MIL OSI Europe News –

  • MIL-OSI Security: Attorney General Merrick B. Garland Delivers Remarks at the U.S. Attorney’s Office for the District of Oregon

    Source: United States Attorneys General

    Remarks as Delivered

    Thanks, Nat.

    I am very grateful to be here and have the opportunity to talk to all of our federal, state, and local law enforcement here.

    All of you are the partners that make everything work. You represent people who take risks every single day to keep the people of Oregon safe. I can’t thank you enough, and I very much look forward to hearing your perspectives and ideas for me to take back.

    I am also grateful to have the chance to recognize the extraordinary work of the U.S. Attorney’s Office for the District of Oregon.

    For people of this state, this office is the face of the Justice Department. The attorneys and staff here understand that responsibility. And like all of our partners gathered around this table, you do outstanding work on behalf of those you serve.

    Three and a half years ago, the Justice Department launched an ambitious strategy to fight the sharp spike in violent crime that took place during the pandemic.

    We focused our efforts on the most powerful tools we have, which are reflected right here: our partnerships with federal, state, Tribal and local law enforcement.

    We fortified those partnerships with substantial funding from our grantmaking components to help police departments hire more officers, to support our law enforcement task forces, and to invest resources in initiatives aimed at preventing and disrupting violence before it occurs.

    And we brought to bear our unique prosecutorial authorities and new technologies that enable us to zero in on those individuals and gangs that are responsible for the most violence.

    Today, we know that work is starting to pay off.

    Data from the Major Cities Chiefs Association shows a nearly 8% drop in violent crime here in Portland between 2022 and 2023. And recent data shows an additional 4% decline in violent crime in Portland in the first nine months of this year compared to the same time period last year.

    But, of course, there is no acceptable level of violent crime.

    That’s why the Justice Department continues to work with our partners here to fight violent crime, disrupt illegal drug and firearms trafficking, and keep people safe.

    In May, working with the FBI and the Portland Police Bureau, this U.S. Attorney’s Office secured a 14-year sentence for a leader of Portland’s 18th Street Gang. The gang leader conspired to traffic large quantities of fentanyl, methamphetamine, and cocaine into the Portland area for redistribution and sale.

    In August, working with the Westside Interagency Narcotics Team and the Oregon-Idaho High Intensity Drug Trafficking Area (HIDTA) program, this office obtained a sentence of more than 10 years for a man who sold deadly Oxycodone pills to a 20-year-old woman who died from acute fentanyl poisoning.

    In September, working with the FBI and the Medford Police Department, this office secured sentences of three men for distributing counterfeit, fentanyl-laced pills that resulted in the death of a teenage girl.

    In October, working with DEA, FBI, Department of Homeland Security, IRS, and the Oregon State Police, and other state and local law enforcement, this office obtained a 57-month sentence for a chief money launderer for a drug trafficking organization operating in the Pacific Northwest and California.

    The defendant laundered more than $4.6 million in drug proceeds and used laundered funds to purchase eight properties. Those properties were forfeited to the government and will ultimately be sold, with proceeds going to support crime victims and law enforcement.

    That same month, in partnership with the FBI, the Klamath Falls Police Department, the Oregon State Police, and half a dozen other law enforcement partners, this office obtained the conviction of a man who brutally victimized two women. The man kidnapped and sexually assaulted both women and held one of them in a cell that he constructed for the purpose in his garage.

    Thanks to the bravery and collaboration of our law enforcement partners, that man is being held accountable for his crimes.

    Just a couple of weeks ago, this office secured a five-year sentence for a man who illegally possessed and manufactured more than 100 semi-automatic firearms and silencers.

    During a search of his residence, investigators found methamphetamine, dozens of weapons, firearm manufacturing tools, and a 3D printer with a partially printed part for an AR15. When the defendant was arrested, he was carrying a semiautomatic pistol without an identifiable serial number.

    That investigation and successful prosecution reflected the joint efforts of this office, ATF, and the Lane County Sheriff’s Office.

    In addition to using our investigative and prosecutorial capabilities, we are also committed to using our grantmaking capabilities to invest in public safety.

    So far this year, the Justice Department has awarded more than $64 million in grants to Oregon.

    These funds will help law enforcement agencies in Oregon to hire more officers.

    And they will help agencies and community partners prevent and combat violent crime and drug trafficking and improve services for survivors of domestic and dating violence, sexual assault, stalking, and other crimes.

    The Department of Justice remains committed to providing our law enforcement and community partners with the resources they need to protect their communities.

    The examples I have just shared are just a snapshot of the extraordinary work that this U.S. Attorney’s Office is doing every day to protect people in Oregon and to fulfill the Justice Department’s mission to ensure the rule of law, to keep our country safe, and to protect civil rights.

    I am extremely proud of the public servants who make up this office and of the extraordinary leader beside me, Natalie Wight. And I am equally proud of the relationships they have developed with the people around this table.

    Your jobs are not easy. They are dangerous, but they are essential. Thanks to you for the many sacrifices you make to keep of this state safe.

    I’m looking forward now to beginning our meeting.

    MIL Security OSI –

  • MIL-OSI Europe: Text adopted – EC-Pacific States Interim Partnership Agreement: accession of Tonga – P10_TA(2024)0068 – Wednesday, 18 December 2024 – Strasbourg

    Source: European Parliament

    (Consent)

    The European Parliament,

    –  having regard to the draft Council decision (07921/2024),

    –  having regard to the Interim Partnership Agreement between the European Community, of the one part, and the Pacific States, of the other part(1),

    –  having regard to the request for consent submitted by the Council in accordance with Article 207(4) first subparagraph and Article 218(6) second subparagraph, point (a)(v) of the Treaty on the Functioning of the European Union (C10‑0055/2024),

    –  having regard to Rule 107(1) and (4) and Rule 117(7) of its Rules of Procedure,

    –  having regard to the recommendation of the Committee on International Trade (A10-0023/2024),

    1.  Gives its consent to the accession of the Kingdom of Tonga to the agreement;

    2.  Instructs its President to forward its position to the Council, the Commission and the governments and parliaments of the Member States and of the Kingdom of Tonga.

    (1) OJ L 272, 16.10.2009, ELI: http://data.europa.eu/eli/agree_internation/2009/729/oj.

    MIL OSI Europe News –

  • MIL-OSI: NBT Bancorp Inc. Receives Regulatory Approval, Evans Bancorp, Inc. Shareholders Approve Merger

    Source: GlobeNewswire (MIL-OSI)

    NORWICH, N.Y. and WILLIAMSVILLE, N.Y., Dec. 20, 2024 (GLOBE NEWSWIRE) — NBT Bancorp Inc. (“NBT”) (NASDAQ: NBTB) announced that it has received regulatory approval to complete the proposed merger (the “Merger”) of Evans Bancorp, Inc. (“Evans”) (NYSE American: EVBN) with and into NBT and Evans Bank, N.A. (“Evans Bank”) with and into NBT Bank, N.A. (“NBT Bank”). The Office of the Comptroller of the Currency approved the merger of Evans Bank with and into NBT Bank, and NBT received a waiver from the Federal Reserve Bank of New York for any application with respect to the merger of Evans with and into NBT.

    On December 20, 2024, the shareholders of Evans voted to approve the Merger. Evans reported over 75% of the issued and outstanding shares of Evans were represented at a special shareholder meeting and over 96% of the votes cast were voted to approve the Merger.

    “We are pleased that we have received the necessary regulatory approvals to proceed with the Merger and that Evans shareholders have demonstrated strong support for the partnership that will bring NBT and Evans together,” said NBT President and CEO Scott A. Kingsley. “Team members from NBT and Evans have been working closely to plan for a smooth transition in the second quarter of 2025, and we look forward to continuing to build on the relationships Evans has established with their customers, communities and shareholders as we extend NBT’s footprint in Upstate New York into the attractive Buffalo and Rochester markets.”

    “These approvals are important milestones in the merger process, and we are grateful that Evans shareholders have so positively endorsed this strategic partnership,” said David J. Nasca, Evans President and Chief Executive Officer. “Joining the NBT family will benefit our customers and communities as they will continue to be served by a combined organization upholds our shared culture and values, maintains our relationship-focused approach, and offers an elevated suite of financial products and services.”

    On September 9, 2024, NBT, Evans, NBT Bank and Evans Bank entered into an Agreement and Plan of Merger pursuant to which Evans will merge with and into NBT in an all-stock transaction, and immediately after, Evans Bank will merge with and into NBT Bank. This Merger will bring together two highly respected banking companies and extend NBT’s growing footprint into Western New York. The Merger is expected to close in the second quarter of 2025 in conjunction with the system conversion, pending customary closing conditions.

    About NBT Bancorp Inc.
    NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $13.84 billion at September 30, 2024. NBT primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies. NBT Bank, N.A. has 155 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester, NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service insurance agency. More information about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com and https://www.nbtbank.com/Insurance.

    About Evans Bancorp, Inc.
    Evans is a financial holding company headquartered in Williamsville, NY, with total assets of $2.28 billion at September 30, 2024. Its primary subsidiary, Evans Bank, N.A., is a full-service community bank with 18 branches providing comprehensive financial services to consumer, business and municipal customers throughout Western New York. More information about Evans is available online at www.evansbancorp.com and www.evansbank.com.

    Forward-Looking Statements
    This communication contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements about NBT and Evans and their industry involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding NBT’s or Evans’ future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to NBT or Evans, are forward-looking statements. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should” and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results.

    Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: (1) the businesses of NBT and Evans may not be combined successfully, or such combination may take longer to accomplish than expected; (2) the cost savings from the merger may not be fully realized or may take longer to realize than expected; (3) operating costs, customer loss and business disruption following the merger, including adverse effects on relationships with employees, may be greater than expected; (4) the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (5) diversion of management’s attention from ongoing business operations and opportunities; (6) the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all and to successfully integrate Evans’ operations and those of NBT; (7) such integration may be more difficult, time consuming or costly than expected; (8) revenues following the proposed transaction may be lower than expected; (9) NBT’s and Evans’ success in executing their respective business plans and strategies and managing the risks involved in the foregoing; (10) the dilution caused by NBT’s issuance of additional shares of its capital stock in connection with the proposed transaction; (11) changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; and (12) legislative and regulatory changes. Further information about these and other relevant risks and uncertainties may be found in NBT’s and Evans’ respective Annual Reports on Form 10-K for the fiscal year ended December 31, 2023 and in subsequent filings with the Securities and Exchange Commission.

    Forward-looking statements speak only as of the date they are made. NBT and Evans do not undertake, and specifically disclaim any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place undue reliance on these forward-looking statements.

    Contacts NBT Bancorp Inc. Evans Bancorp, Inc.
         
      Scott A. Kingsley
    President and Chief Executive Officer    		 David J. Nasca
    President and Chief Executive Officer
         
      Annette L. Burns
    EVP and Chief Financial Officer    		 John B. Connerton
    EVP and Chief Financial Officer
         
      607-337-6589 716-926-2000
         
        Evans Investor Relations
    Deborah K. Pawlowski, Alliance Advisors
    dpawlowski@allianceadvisors.com
    716-843-3908
         

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI Asia-Pac: Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chairs the Pre-Budget Consultation Meeting with States and UTs (with legislature), in Jaisalmer, Rajasthan, today

    Source: Government of India (2)

    Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chairs the Pre-Budget Consultation Meeting with States and UTs (with legislature), in Jaisalmer, Rajasthan, today

    Union Finance Minister informed that funds devolved to States in 45 months under 15th FC exceed total funds devolved during 60 months under 14th FC (2015-2020)

    Posted On: 20 DEC 2024 10:08PM by PIB Delhi

    Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chaired the pre-budget consultations with Finance Ministers of States and Union Territories (with Legislature) at Jaisalmer, Rajasthan, today.

     

    The meeting was attended by Union Minister of State for Finance Chri Pankaj Chaudhary, Chief Ministers of Goa, Haryana, Jammu and Kashmir, Meghalaya and Odisha; Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, Rajasthan and Telangana; Finance Ministers, Ministers, Secretaries of Departments of Economic Affairs and Expenditure, Ministry of Finance and Senior Officers from the States/Union Territories and the Union Government.

    The participants gave several valuable suggestions to the Union Finance Minister for consideration in the Union Budget for F.Y. 2025-26.

    Smt. Sitharaman remarked that because of healthy macroeconomic environment, buoyancy and efficiency in the tax collections, the funds devolved to the States in the last 45 months (April 2021 to December 2024) under the 15thFinance Commission is more than what was devolved in 60 months under the 14thFinance Commission (2015-20).

    The Union Finance Minister also referred to the Scheme for Special Assistance to States for Capital Investment (SASCI), which was first announced in the Union Budget 2020-21, and acknowledged that it has received a very good response from the States. The States have been requesting the Central Government to enhance the outlay under the Scheme as it is leading to construction of crucial capital assets in the States.

    Smt. Sitharaman stated that the Centre has allocated an additional amount of approximately Rs. 30,000 crore as ‘Untied Funds’ under the SASCI-2024-25. This allocation may be used by the State Governments in any sector to further increase expenditure on creation of capital assets.

    In addition to this, the Union Finance Minister stated that the Centre has created an additional dispensation under SASCI for the States affected by disaster of a severe nature as assessed by the Inter-Ministerial Central Team (IMCT), deputed by the Ministry of Home Affairs (MHA). This will aid the States in their efforts for reconstruction of the damaged infrastructure, like roads and bridges, water supply lines, electricity poles, and culverts etc. The States which suffered a natural disaster of severe nature (as assessed by IMCT) in FY 2024-25 may be eligible for upto 50% of their allocation under Part-1 (Untied) of the SASCI scheme. This amount will be in addition to the funds provided under the National Disaster Response and Mitigation Fund (NDRMF), Smt. Sitharaman added.

    Smt. Sitharaman thanked the dignitaries for their valuable inputs and ideas which will be given due consideration in the preparation of budget for the ensuing Financial Year.

    ****

    NB/KMN

    (Release ID: 2086682) Visitor Counter : 40

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Review Meeting for Haj 2025 Preparations

    Source: Government of India

    Review Meeting for Haj 2025 Preparations

    Ministry of Minority Affairs launches CBT Portal for the selection of Haj trainers and State Haj Inspectors

    Posted On: 20 DEC 2024 9:23PM by PIB Delhi

    The Haj Committee of India, under the Ministry of Minority Affairs, Government of India, organized the Review Meeting for Haj 2025 Preparations at the Haj House, Mumbai, on December 20, 2024. The meeting brought together senior officials, representatives from state Haj committees, and key stakeholders to discuss and strategise for the forthcoming Haj season. The meeting was chaired by Dr. Chandra Shekhar Kumar, Secretary, Ministry of Minority Affairs in the presence of Shri C.P.S. Bakshi, Joint Secretary, Ministry of Minority Affairs. Key learnings of Haj 2024 and new measures for making Haj 2025 a seamless experience were discussed and new initiatives for Haj 2025 were reviewed by the Secretary, Ministry of Minority Affairs.

    In his address, Dr. Chandra Shekhar Kumar emphasized the importance of meticulous planning, collaborative efforts, and the use of innovative technologies to ensure a seamless and spiritually enriching journey for pilgrims. He said that State Haj Inspectors (SHIs) are the first line of defence, hence, it is very essential to select merit-based, tech-savvy and committed applicants. This will ensure that  most issues of pilgrims are resolved speedily and they receive individual attention by the State Haj Inspectors.

    Shri C.P.S. Bakshi highlighted the Ministry’s firm commitment to the welfare and facilitation of pilgrims, reiterating the Ministry’s support for all stakeholders.

    A key highlight of the meeting was the launch of the CBT (computer-based test) Portal, a significant technological advancement designed to streamline the selection process of Haj Trainers and State Haj Inspectors as Haj is becoming more and more a technologically driven activity. The portal was developed in collaboration with BISAG-N, whose team demonstrated its user-friendly interface and functionalities during the event.

    A presentation was made by the Chief Executive Officer and discussions held by the participants focusing on improving the overall Haj experience for pilgrims. Various aspects of the preparation, including modalities for conduct of computer-based exam for the selection of Haj trainers and State Haj Inspectors, logistics, training, medical facilities, and welfare services were discussed. Feedback from State/ UT Haj Committees were also sought and taken into consideration and it was decided to ensure close coordination with all the stakeholders. Mr. Ashfaque Ahmad Arfi, Executive Officer, Delhi State Haj Committee shared his recent experience of working as a member of the Building Inspection-cum-Selection Team and said that India being the first country to initiate building selection process so early had the advantage of getting good quality buildings and the team finalized about 50% of total accommodation required for Haj 2025 in less than a week, marking it as the fastest progress achieved in recent years.    

    ***

    SS/PRK

    (Release ID: 2086675) Visitor Counter : 49

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: $350 Million Loan signing between Government of India and ADB

    Source: Government of India

    $350 Million Loan signing between Government of India and ADB

    $350 Million policy-based loan aim to expand India’s manufacturing sector and improve the resilience of its supply chains

    Posted On: 20 DEC 2024 8:23PM by PIB Delhi

    The Government of India and the Asian Development Bank (ADB) today signed a $350 million policy-based loan under the second subprogram of Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program.

    The signatories to the loan agreement were Department of Economic Affairs (DEA), Ministry of Finance; Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry; and the ADB.

    The SMILE program is a programmatic policy-based loan (PBL) to support the government in undertaking wide-ranging reforms in the logistics sector in India. The programmatic approach comprises two subprograms, which aim to expand India’s manufacturing sector and improve the resilience of its supply chains.

    The program establishes and operationalizes a comprehensive policy framework to enhance logistics efficiency through (i) strengthening the institutional bases for multimodal logistics infrastructure development at the national, state, and city levels; (ii) standardizing warehousing and other logistics assets to strengthen supply chains and incentivize greater private sector investment; (iii) improving efficiencies in external trade logistics; and (iv) adopting smart systems for efficient and low emission logistics.

    The development of India’s logistics sector is vital to enhancing the competitiveness of its manufacturing sector. Through strategic policy reforms, infrastructure development, and digital integration, ongoing reforms are poised to transform the logistics landscape. This transformation is expected to reduce costs, improve efficiency, generate substantial employment opportunities, and promote gender inclusion—driving sustainable economic growth.

    The collaboration between the Government of India and ADB reflects a shared commitment to fostering growth and innovation in the logistics sector, supporting India’s broader economic development goals.

    **************

    AD/CNAN/AM

    (Release ID: 2086638) Visitor Counter : 77

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Empowering Youth and Revitalizing Sports: Minister of State Youth Affairs & Sports Raksha Khadse Highlights Government Initiatives in Press Meet

    Source: Government of India

    Posted On: 20 DEC 2024 8:23PM by PIB Delhi

    Minister of State for Youth Affairs and Sports, Smt. Raksha Khadse, addressed a press conference today in New Delhi, where she deliberated on various initiatives undertaken by the Government of India for the youth. Additionally, she reviewed multiple facets of the sports sector. The key highlights are as follows:

    India has witnessed unprecedented progress in youth empowerment since 2014, focusing on key areas such as employment generation, support for MSMEs, promotion of startups, formalization of the economy, encouragement of research and development, skill enhancement, and fostering sports excellence and fitness. These initiatives align with the vision of “Sabka Saath, Sabka Vikas” and “Aatmnirbhar Bharat,” paving the way for a developed India by 2047.

    Key Highlights:

    1. Youth Development Priorities:
      • The Union Budget 2024-25 allocated ₹3,442.32 crore for skill development, internships, and employment generation, marking a threefold increase from ₹1,219 crore in 2013-14.
      • National Youth Policy 2014 provides a robust framework to maximize youth potential by 2030.
    2. Employment and Skill Development:
      • Unemployment rate reduced to 3.2% in 2023-24.
      • Initiatives like PMKVY (Pradhan Mantri Kaushal Vikas Yojna) and DDU-GKY (Deen Dayal Updhyay Gramin Kaushal Yojna) have trained millions, with significant employment outcomes.
      • EPFO achieved record growth in July 2024 by adding 19.94 lakh net members.
      • The highest growth was observed in the 18-25 age group, with 8.77 lakh net additions in July 2024. This marks the largest increase for this demographic since records began and reflects the continued trend of young people, mostly first-time job seekers, entering the organized workforce
      • Around 3.05 lakh new female members joined EPFO in July 2024, reflecting a year-over-year growth of 10.94%.
      • Maharashtra led among the States/UTs, contributing 20.21% of the total new members.
    3. Economic and Startup Growth:
      • India now hosts 1.4 lakh recognized startups and 117 unicorns, making it the world’s third-largest startup hub.
      • Schemes like PMMY (Pradhan Mantri Mudra Yojna) and Stand-Up India have empowered entrepreneurs, especially women and marginalized communities.
    4. Sports and Fitness:
      • Record-breaking performance at the 2024 Asian Games with 107 medals (with 28 gold).
      • Enhanced investment in Khelo India and TOPS programs contributed to Olympic (6 medals) and Paralympic (29 medals) success.
      • Khelo India Budget increased from 596 crore to 900 crore.
    5. Women Empowerment:
      • Initiatives like the Nari Shakti Adhiniyam and Sukanya Samruddhi Yojana underscores the government’s commitment to gender equality.

                India’s strides in youth-centric policies and initiatives highlight its commitment to fostering a robust and inclusive ecosystem, ensuring every young Indian contributes to nation-building.

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    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Dentist Sentenced to 15 Years in Prison for Stealing Drugs from Patients and Performing Surgery Without Proper Pain Management

    Source: US Department of Health and Human Services – 3

    Department of Justice
    U.S. Attorney’s Office
    Central District of Illinois

    FOR IMMEDIATE RELEASE
    Friday, December 20, 2024

    SPRINGFIELD, Ill. – A Rochester, Illinois, dentist, Phillip M. Jensen, 64, was sentenced on December 18, 2024, to 15 years in prison for stealing fentanyl from his patients, injecting them with adulterated drugs, and performing surgery without proper pain management. Jenson also was ordered to pay a $200,000 fine.

    Jensen previously pleaded guilty to two counts of drug diversion, two counts of acquiring a controlled substance by fraud, one count of tampering with consumer products resulting in serious bodily injury, and two counts of false statements relating to health care matters in August 2024.

    Jensen, who prior to having his license suspended in 2022 had specialized in oral and maxillofacial surgery, started stealing fentanyl form his patients as early as December 2019. This conduct first came to light when his staff began noticing patients who were moving, moaning, and otherwise showing signs of pain and distress during surgery.

    Jensen admitted that he had stolen at least half of the fentanyl in every vial in the practice. He acknowledged removing the safety caps, withdrawing at least half of the fentanyl in the single-use vials, refilling the vials with saline, and gluing the caps back on to the vials. In a further effort to hide what he had done, Jensen made false entries into his surgical records claiming that he had given quantities of full-strength and unadulterated fentanyl to his patients to control their pain. He further billed both public and private insurance for these surgeries utilizing these same falsified records. In all, Jensen stole more than 40 grams of fentanyl for his personal use through his fraud.

    At the sentencing hearing before U.S. District Judge Colleen R. Lawless, the government presented evidence of Jensen’s lengthy history with addiction, his previous efforts at treatment, and his ultimate decision to prey upon his patients by stealing the drugs that were meant to provide them with comfort during their surgeries. The government presented evidence of the elaborate steps Jensen took to disguise his theft and how his theft of this necessary pain medication impacted his patients.

    During the hearing, Judge Lawless also heard from several of the more than 99 identified victims of Jensen’s fraud, including the statement of a mother who discussed looking into the face of their child immediately following the surgery as the child cried and stated that they had “felt everything.” The government also presented the statement of a patient that awoke during her surgery. When Jensen realized she was awake, he struck the patient in the head with an instrument and completed the surgery, which involved the extraction of multiple teeth as well as the shaping and smoothing of the bones in her jaw, while she was conscious and lacking pain management.

    At the conclusion of the hearing, Judge Lawless rejected Jensen’s argument that he was less culpable than an average drug dealer. She noted that Jensen profited from his crimes. She also stated that while a dealer provides drugs to knowing and willing participants, Jensen provided diluted drugs without the consent or knowledge of his victims. She noted that Jensen was a physician who used his position of trust to hurt others. Judge Lawless concluded by asking, “If you cannot trust your doctor, who can you trust?”

    A federal grand jury returned an indictment against Jensen in February 2022 charging him with twenty felony counts. He was originally released on bond, but a warrant was issued in July 2024 for violation of the terms and conditions of bond after he stalked and harassed a potential witness in the case. Jensen was detained at that time, and he has remained in the custody of the U.S. Marshal Service.

    Judge Lawless, in imposing the fifteen-year sentence, rejected Jensen’s arguments for a lower drug weight and noted the egregious nature of his conduct. In addition to the $200,000 fine imposed, Judge Lawless also ordered Jensen to repay the government for the costs of the expert witness it had to hire. Jensen also lost his medical license as a result of his conduct.

    “This case represents the commitment of the Department of Justice, both in the Central District of Illinois and beyond, to protect and defend the public from those that would prey upon them,” said U.S. Attorney Gregory K. Harris. “People are never as vulnerable as when they place their faith in a health care provider to not only treat their condition but to administer anesthesia and pain medicine during that treatment. Jensen abused that faith and hurt others in the process. Because of this prosecution, Jensen will not be permitted to practice medicine again and will be prevented from hurting members of our community in the future.”

    “Health care professionals who tamper with patient medications create a risk of harm to patients, and also put at risk the trust that U.S. consumers have in those who provide their medical care,” said Ronne Malham, Special Agent in Charge of the Food and Drug Administration’s Office of Criminal Investigations Chicago Field Office. “We will continue to investigate and bring to justice health care professionals who take advantage of their unique medical positions and tamper with patients’ medications.”

    “Medical professionals who violate their oaths to ‘do no harm’ must be held accountable,” said Sheila Lyons, Special Agent in Charge of the U.S. Drug Enforcement Administration – Chicago Division. “The DEA will continue working to keep Illinois families safe from medical professionals who illegally divert opioid painkillers from legitimate medical supplies.”

    The United States Drug Enforcement Administration Diversion Unit, Springfield Resident Office, which focuses on cases involving pharmaceutical controlled substances diverted from the legal chain of commerce to the illegal drug market, investigated this case in conjunction with the Sangamon County Sheriff’s Office, the United States Food and Drug Administration, and the Illinois Department of Financial and Professional Regulation. Assistant U.S. Attorneys Douglas F. McMeyer and Sierra Senor-Moore represented the government in the prosecution.

    MIL OSI USA News –

  • MIL-OSI USA: Species Profile — African Clawed Frog

    Source: US National Invasive Species Information Center

    Official websites use .gov
    A .gov website belongs to an official government organization in the United States.

    Secure .gov websites use HTTPS
    A lock ( ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: “JAM(Jan Dhan, Aadhar, Mobile)TRINITY and digital revolution: A Decade of Financial Inclusion, Transparency and Corruption Free India”

    Source: Government of India

    “JAM(Jan Dhan, Aadhar, Mobile)TRINITY and digital revolution: A Decade of Financial Inclusion, Transparency and Corruption Free India”

    Ayushman Bharat: Path towards an Inclusive Healthcare Paradigm

    There are more than 54 crore Jan Dhan Yojana accounts, with a total deposit balance of approximately ₹2.39 lakh crore- an increase of over 15 times since its inception.

    37.02 crore RuPay cards have been issued to PMJDY account holders

    In FY 2023-24, UPI transactions reached ₹200 lakh crore, a 138% increase from 2017-18.

    UPI now operational in seven countries and more than 40% of the global real-time payment transactions are happening in India.

    As on 30.11.2024, approximately 36 crore Ayushman cards have been created across the country and a total of around 29,929 hospitals are empaneled under the scheme including 13,222 private hospitals

    AB-PMJAY is presently implemented in 33 States/UTs across the country.

    Posted On: 20 DEC 2024 7:29PM by PIB Delhi

    Modi Government has been working for the poor and more than 200 schemes have been launched in the last 10 years for the welfare of the 140 crore people of the nation, said Union Minister of State for Corporate Affairs and Road, Transport and Highways,Shri Harsh Malhotra. Shri Malhotra was addressing a Press Conference on impact of path breaking reforms of JAM(Jan Dhan Yojna, Aadhar& Mobile) Trinity Schemes,Digital Transactions and AYUSHMAN BHARAT-PM JAY.

    Shri Malhotra stated that under the visionary leadership of PM Shri Narendra Modi, Pradhan Mantri Jan Dhan Yojana (PMJDY) has solved a significant portion of India’s population by bringing them into the banking ecosystem.  At present, there are more than 54 crore accounts, with a total deposit balance of approximately ₹2.39 lakh crore- an increase of over 15 times since its inception. The scheme has been particularly successful in rural ,semi-urban areas and amongst women, with around 66% of accounts coming from these regions. Furthermore, 37.02 croreRuPay cards have been issued to PMJDY account holders, with the average deposit per account rising significantly, reflecting increased usage and savings behaviour. The World Bank has also acknowledged that India has achieved its financial inclusion goals in just six years, a feat that would have taken 47 years without its advanced Digital Public Infrastructure. 
     

    PM-Jan Dhan Yojna  coupled with JAM Trinity has become the world’s largest Financial inclusion program. Now, every rupee released from central Government   reaches  to the intended beneficiary directly without any middlemen which has further led to the enhancement of Indian Economy . The once neglected poor section of the country has been  linked with the rising Indian Economy.This has been made possible with a mission-mode approach that involved both the government and the public.The Minister highlighted that JAM Trinity has driven the nation’s digital revolution and enhance transparency within the financial ecosystem. The government’s focus for the initiative is maximising value for every rupee spent, empowering the poor, and ensuring technology penetration among the masses has been achieved.The JAM Trinity has played a pivotal role in facilitating this progress, enabling more effective and inclusive financial transactions, particularly through Direct Benefit Transfers (DBT). This system has not only ensured subsidies and benefits reach the underprivileged directly but also reduced corruption and eliminated fake beneficiaries. The average deposits in the Jan Dhan Accounts as on 14.8.2024 is Rs 4352. The government has fought against poverty on all fronts and consequently,25 crore have come out of poverty in the last 10 years. Delhi alone has 65 lakh PM Jan Dhan Accounts with a total deposit of Rs 3114 crores along with 50 lakh beneficiaries of RuPAY Cards. 2,59,000 women have been benefited from the PM Ujjwala Scheme

    Minister of State emphasised that the success of PMJDY and the JAM trinity has brought greater financial inclusion, empowering citizens with access to banking services while promoting transparency and curbing corruption.PMJDY has not only transformed the financial landscape for millions of Indians but also paved the way for India to emerge as a global leader in digital financial inclusion. About 10 crore fake beneficiaries have been weeded out from the system  which has helped in prevent Rs 2.75 lakh crore from going into wrong hands.

    Shri Malhotra stated that India’s digital payment landscape has also seen exponential growth, with UPI transactions expanding rapidly. In FY 2023-24, UPI transactions reached ₹200 lakh crore, a 138% increase from 2017-18. This growth in digital payments has positioned India as a global leader in this domain, with UPI now operational in seven countries, further boosting financial inclusion and remittance flows. Through the continued expansion of digital payment solutions and initiatives like UPI, India is setting new benchmarks for economic empowerment and financial transparency and also mentioned that more than 40% of the global real-time payment transactions are happening in India.

    The Government’s focus on inclusive healthcare ensured that, India was just the fifth country to develop the COVID Vaccine and successfully executed  the world’s largest vaccine program in which 221 crore doses were administered to the people of the nation.

    Minister of State highlighted that Ayushman Bharat- PradhanMantri Jan Arogya Yojana (AB-PMJAY) which was launched on 23.09.2018 with an aim to provide health cover of Rs. 5 lakh per family per year for secondary and tertiary care hospitalisation. AB-PMJAY is presently implemented in 33 States/UTs across the country.

    In March 2024, 37 lakh families of ASHA, Anganwadi Worker and Anganwadi Helpers were also included in the scheme.

    Shri Malhotra mentioned that on 29.10.2024, the Government of India expanded the scheme to provide free treatment benefits of up to ₹5 lakh per year on a family basis to all senior citizens aged 70 years and above, irrespective of their socio-economic status. As on 30.11.2024, approximately 36 crore Ayushman cards have been created across the country and a total of  around 29,929 hospitals are empaneled under the scheme including 13,222 private hospitals, to ensure delivery of quality healthcare services to the beneficiaries. Further, a total of around8.39 crore hospital admissions worth aroundRs. 1.16 lakh crore have been authorized under the scheme.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister Shri Pralhad Joshi Urges People to Take Advantage of PM-Surya Ghar: Muft Bijli Yojana

    Source: Government of India (2)

    Union Minister Shri Pralhad Joshi Urges People to Take Advantage of PM-Surya Ghar: Muft Bijli Yojana

    Union Minister Joshi holds review meeting on PM Surya Ghar with the states of West Bengal, Odisha, Bihar, Jharkhand & Ashtalakshmi North Eastern States

    Union Minister Advises Officials to Enhance Implementation of PMSGMBY

    Posted On: 20 DEC 2024 7:00PM by PIB Delhi

    Union Minister of New and Renewable Energy and Minister of Consumer Affairs, Food and Public Distribution, Shri Pralhad Joshi today urged people for taking the advantage of the PM Surya Ghar: Muft Bijli Yojana more to avail the benefit up to 300 free units of electricity with an allocation of Rs 75,021 crore. The Minister was addressing a review meeting in Kolkata with the officials of various organisations engaged in promotion of renewable energy in West Bengal, Odisha, Bihar, Jharkhand and eight North-eastern States. He advised officials from the states to enhance the implementation of PM Surya Ghar: Muft Bijli Yojana in their States.

    Shri Joshi said that West Bengal can do much better regarding the progress of the Scheme in the state. The Minister also said that he has requested concerned Ministers of West Bengal for providing more support to the scheme which aims to light up 1 crore households by providing up to 300 units of free electricity with central Government support upto Rs 78,000.

    Union Minister Joshi said that the registration for the scheme has touched 1.5 crore in the entire country and the number of households benefitted has reached 7.06 lakh so far. Shri Joshi said, the scheme should be implemented in good spirit without meddling into politics for the benefit of the people of a State. The Union Minister also urged the State to come forward with an offer of subsidy along with the Central subsidy to make the scheme more profitable for the citizens of the state.

    The Union Minister also held a meeting with the solar panel installation vendors and service providers from West Bengal. He took the stock of their challenges and discussed potential solutions to improve the rooftop solar installations under PM Surya Ghar scheme.

    The review meeting today was attended by Shri Sudeep Jain, Additional Secretary, Ministry of New and Renewable Energy (MNRE) and senior officers of participating states, REC, DISCOM, and agencies of renewable energy of States.

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  • MIL-OSI Europe: At a Glance – Plenary round-up – December 2024 – 20-12-2024

    Source: European Parliament

    The European Union’s external relations topped the agenda for the December 2024 plenary session, with several debates on statements by the High Representative for Foreign Affairs and Security Policy, and Vice-President of the European Commission, Kaja Kallas, attending the plenary for the first time in her new capacity. These included the toppling of the Syrian regime and its consequences; Russia’s disinformation activities and fraudulent justification of its war against Ukraine; the use of rape as a weapon of war (e.g. in the Democratic Republic of Congo and Sudan). The day after Kallas’s remarks on the crackdown on peaceful pro-European demonstrators in Georgia, Salome Zourabichvili, President of Georgia, addressed Members in a formal sitting. Other debates on Commission statements covered, inter alia: the situation in Mayotte following the recent devastating cyclone; a European innovation act; harassment and cyber-violence against female politicians in EU candidate and neighbouring countries; a shared vision for sustainable European tourism; promoting social dialogue and the right to strike; tackling abusive subcontracting; the need to ensure swift action and transparency on public-sector corruption allegations; urgent EU action to preserve nature and biodiversity; and the Commission’s plans to revise outstanding proposals on animal welfare in its 2025 work plan. Members also debated ahead of the European Council meeting of 19 December 2024 and set out their expectations ahead of the EU-Western Balkans Summit that took place the previous day. Parliament created two new standing committees, upgrading the former sub-committees on Public Health, and on Security and Defence; and set up two special committees: on the European Democracy Shield, and the Housing Crisis.

    MIL OSI Europe News –

  • MIL-OSI Security: Two California Men Charged in Largest NFT Scheme Prosecuted to Date

    Source: United States Attorneys General 7

    Note: View the indictment here. 

    A six-count indictment was unsealed today in Los Angeles charging two California men with defrauding investors of more than $22 million in cryptocurrency through a series of digital asset project “rug pulls,” a type of fraud scheme in which the creator of a nonfungible token (NFT) or other digital asset project solicits funds from investors for the project and then abruptly abandons the project and fraudulently retains investors’ funds. Both men were arrested yesterday by Homeland Security Investigations (HSI) in Los Angeles.

    According to court documents, from May 2021 to May 2024, Gabriel Hay, 23, of Beverly Hills, and Gavin Mayo, 23, of Thousand Oaks, sponsored several NFT and other digital asset projects and undertook promotional activities in support of those projects. Hay and Mayo allegedly made or caused others to make materially false and misleading statements regarding the digital asset projects being launched and provided false and misleading project “roadmaps” detailing plans for the NFTs or other digital asset projects after their launch that the sponsors never intended to fulfill. For example, the indictment alleges that in promoting the Vault of Gems NFT project, Hay and Mayo falsely claimed that the project would be the “first NFT project to be pegged to a hard asset.” However, instead of pursuing the Vault of Gems project or others as they had represented they would, Hay and Mayo allegedly abandoned the projects after collecting millions in funds from investors.

    “Gabriel Hay and Gavin Mayo allegedly defrauded investors in digital asset projects of tens of millions of dollars and threatened an individual who attempted to expose their roles in these fraudulent schemes,” said Principal Deputy Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division. “Fraudsters take advantage of new technologies and financial products to steal investors’ hard-earned money. The department is committed to protecting investors and will continue to work with our law enforcement partners to root out fraud involving cryptocurrency and other digital assets and bring offenders to justice.”

    “For three years, Hay and Mayo apparently lied to their investors in order to defraud them out of millions of dollars,” said HSI Executive Associate Director Katrina W. Berger. “Such technological fraud schemes cost investors millions of dollars every year. Just because such crimes aren’t violent does not mean they are victimless. HSI will continue to investigate, disrupt, and dismantle such cryptocurrency fraud networks.”

    “Whenever a new investment trend occurs, scammers are sure to follow,” said U.S. Attorney Martin Estrada for the Central District of California. “My office and our law enforcement partners will continue our efforts to protect consumers and punish wrongdoers involved in crypto fraud.”

    Hay, Mayo, and others allegedly used these tactics with a variety of digital asset projects, including Vault of Gems, Faceless, Sinful Souls, Clout Coin, Dirty Dogs, Uncovered, MoonPortal, Squiggles, and Roost Coin. Hay and Mayo also allegedly used a variety of means to conceal their involvement in the fraudulent projects by falsely identifying other individuals or causing other individuals to be falsely identified as owners of the projects. When one project manager on the Faceless NFT project exposed Hay and Mayo as being behind that project, Hay and Mayo allegedly embarked on a harassment campaign against the project manager, sending or causing the sending of messages to the project manager and his parents for the purpose of intimidating him and his family and causing them great emotional distress.

    Hay and Mayo are each charged with one count of conspiracy to commit wire fraud, two counts of wire fraud, and one count of stalking. If convicted, they each face a maximum penalty of 20 years in prison on each of the conspiracy and wire fraud counts and a maximum penalty of five years on the stalking count. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    HSI Baltimore is investigating the case.

    Trial Attorneys Tian Huang and Tamara Livshiz of the Criminal Division’s Fraud Section, both members of the National Cryptocurrency Enforcement Team (NCET), and Assistant U.S. Attorney Maxwell Coll for the Central District of California are prosecuting the case.

    The NCET was established to combat the growing illicit use of cryptocurrencies and digital assets. Within the Criminal Division’s Computer Crime and Intellectual Property Section, the NCET conducts and supports investigations into individuals and entities that are enabling the use of digital assets to commit and facilitate a variety of crimes, with a particular focus on virtual currency exchanges, mixing and tumbling services, and infrastructure providers. The NCET also works to set strategic priorities regarding digital asset technologies, identify areas for increased investigative and prosecutorial focus, and lead the department’s efforts to collaborate with domestic and foreign government agencies as well as the private sector to aggressively investigate and prosecute crimes involving cryptocurrency and digital assets.

    If you believe that you are a victim of any of the scams listed above or other scams involving the defendants, please email rugpullvictims@hsi.dhs.gov.

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

    MIL Security OSI –

  • MIL-OSI Economics: Luis de Guindos: Interview with the Telegraaf

    Source: European Central Bank

    Interview with Luis de Guindos, Vice-President of the ECB, conducted by Wouter van Bergen and Martin Visser

    20 December 2024

    What has kept you awake over the past year?

    Looking back at recent times, I would say that my worst nightmare was that a cyber attack would wreak havoc in the payments system. We would have a complicated situation on our hands that would be very difficult to resolve and would have serious consequences for all of us.

    And what do you expect will keep you awake next year?

    For the future, I’m more concerned about trade policy and the potential fragmentation of the global economy. The new US administration has announced far-reaching import tariffs. If they materialise, a wholly new situation could arise, which would go completely against the lessons from the 1930s and the path we have chosen since the end of the Second World War.

    Trump has introduced import tariffs before. What is different this time?

    It’s not only the import tariffs imposed by the United States that are the problem, but also the retaliation by other countries in response. If a trade war erupts, it would be extremely negative for the world economy, mainly for growth but also for inflation. For example, if you impose a 60% tariff on goods from China, which already has excess capacity, it would cause a diversion in trade flows and even impact exchange rates. Nobody knows where that will end.

    What can the ECB do about that?

    We’re not responsible for trade policy. We can provide our advice and explain that a trade war would be extremely detrimental for the world economy and a lose-lose situation for everyone, and that is why it is better to be prudent. But the response is up to the European Commission, and our role is to give our view and deal with the consequences.

    Might it also threaten the euro?

    It should be the other way around. If such threats emerge, the answer lies precisely in more European integration. The euro plays a hugely important role in that.

    But election results indicate that the population in many European countries is not that keen on it…

    I think that the European population is smart, and people are well aware that the uncertainties and risks are intensifying, and that becoming more fragmented within Europe would be the wrong response. My impression of populist politicians is that they propose simple solutions for highly complex problems.

    Immigration is one such complex problem…

    There is talk about restricting immigration, but looking at demographic developments in Europe, you see that the population is ageing. From an economic viewpoint, it is crystal clear that we need ordered immigration, so we should focus on properly managing its social impact.

    Are you concerned about the high levels of public debt in many Member States, such as France?

    Countries need to put in place credible and prudent fiscal consolidation plans. The fiscal rules were suspended for five years due to the COVID-19 pandemic and the energy crisis, but now we have a new fiscal framework, and it’s important to implement it accordingly. France is not the only country whose budget has not yet been approved. The same goes for Germany, Spain, Belgium and Austria. They know what they need to do, and I am convinced that they will act accordingly.

    Relative to GDP, public debt is indeed on average 10% higher than it was before the pandemic. At the same time, the situation in the southern European countries that were in trouble 12 years ago is much better now. Portugal now runs a budget surplus, as do Ireland and Cyprus. Greece and Italy are running primary surpluses. Precisely the ‘usual suspects’ back then are doing well now, thanks to the measures taken at the time.

    Former ECB President Mario Draghi painted a dire picture of the state of European competitiveness in a recent report. What can we do to restore it?

    The demographic reality is that our population is ageing. An ageing society takes less risks and innovates less. That’s why targeted immigration is so important. It’s something that Europe should reflect on from an economic perspective.

    Europe has other structural problems too, like the lack of a genuine single market for goods and services. The array of different rules applying throughout means that Europe is still highly fragmented, in contrast to the United States. We don’t have a real banking union as we don’t have a common deposit insurance scheme. And we don’t have a capital markets union, because there is no single capital market supervisor and insolvency laws still differ across countries. On top of that, we don’t have a fiscal union, unlike the United States. Savings are taxed differently everywhere in Europe, there are disparities in labour market rules and some exceptions to the temporary framework on state aid still have to be fully phased out.

    The list of necessary measures is long…

    Yes, there is a lot of work to do and the world is not going to wait for us. Because of the policies of the new United States administration, we may need to deal with import tariffs, uncertain fiscal policy, the possibility of deregulation in financial markets and, going beyond economics, even defence. This is a wake-up call for Europe.

    How can you remain optimistic in the face of such huge challenges?

    It’s not a question of optimism, but pragmatism. In Europe, there is only one way to preserve our current standard of living, and we will eventually choose the correct path.

    The inflation rate in the Netherlands has risen again to 4%. The ECB’s policy does not suit the situation in our country…

    In the euro area, we have seen that although there is an increase in households’ real disposable income because wages have started to catch up with past inflation, consumption is not recovering well. This is an issue of confidence, which has to do with past inflation, the lagging effects of the pandemic, and the current geopolitical landscape.

    People mainly look at prices and they now see that supermarket prices are much higher than they were two or three years ago. That’s why it’s so important that they realise that price levels are stabilising and wages are catching up. And not everything is negative, as labour markets are doing well.

    As the ECB, we have to look at the euro area average (at 2.2% in November, ed.). Dutch inflation is more volatile than average. We are confident that inflation will gradually decrease in the Netherlands too, and that inflation across the euro area will gradually converge towards our 2% target.

    What message do you have for Dutch consumers?

    You still have higher inflation, but inflation in the euro area has declined substantially and without a recession. You have very high employment, so wages are increasing and catching up with past inflation. The tight labour market also shows the need for targeted immigration.

    Do you already hold bitcoin?

    No, no bitcoin, but I know some people who do.

    You missed out on big gains…

    Yes, but I could just have gone to the casino [laughs]. The world of crypto-assets is a mixed bag, with stablecoins being very different from others like bitcoin. In general though, there are no fundamentals that determine the value of bitcoin, like there are for shares or bonds. There is only scarcity.

    Are crypto-assets a risk for the financial system?

    Not for now, there are few of them and volumes are still too small to pose material risks to the financial system.

    Europe is lagging behind the rest of the world. Out of the 50 largest tech companies, only three are European. Europeans heavily invest their funds on US stock exchanges and European banks can’t keep up with their US competitors. Is there still hope?

    This is an indication that there are some structural issues that we need to improve in Europe, namely by deepening economic integration. I talked earlier about common solvency and taxation rules and a coordinated approach to supervision in capital markets, for example. We have to channel European savings to Europe, and to attract savings from abroad.

    Every cloud has a silver lining. Europe is at a crossroads now. The future is now more uncertain than ever since the pandemic due to geopolitical tensions and the risk of significant frictions in global trade in the advent of the new United States administration. That is why we need more integration, not less. It will take courage, but common sense will ultimately prevail.

    MIL OSI Economics –

  • MIL-OSI NGOs: If the EU won’t stop Israel’s genocide in Gaza, member states must go it alone

    Source: Amnesty International –

    Ursula von der Leyen knows that the EU’s reputation as a credible actor for human rights and international law is in tatters over the horrors in Gaza.

    EU leaders and officials have gone from privately condemning the EU’s double standards behind closed doors to publicly lamenting them. Instead of tackling these double standards however, the European Commission President rebranded them as “anti-EU narratives” and tasked the new Commissioner for the Mediterranean and foreign policy chief to elaborate a communications strategy to highlight the EU’s contribution to the region. But there are issues that even the canniest communications strategy cannot bury.

    After the atrocities committed by Hamas and other armed groups on 7 October 2023, Israel’s military campaign has killed over 45,000 Palestinians, 60% of whom are children, women and older people. The Israeli offensive has left the occupied Gaza Strip a wasteland, inflicting shocking and unprecedented levels of death, suffering and destruction. Amnesty International investigated Israel’s offensive on Gaza, examining a variety of unlawful acts constituting a pattern of conduct, the harmful and destructive impact of its policies and actions, and Israeli government and military officials’ racist, dehumanizing and genocidal rhetoric.

    The conclusion is clear: Israel is committing these acts with the intent to destroy the Palestinians in Gaza. Israel is committing genocide. We also found that not only is the genocide in Gaza the most documented in history, but the EU and many of its member states are failing to prevent it. Moreover, some member states risk becoming complicit in Israel’s genocide by continuing to transfer arms to the country.

    ‘All signs of genocide are flashing red’

    Amnesty International’s report ‘You Feel Like You Are Subhuman’: Israel’s Genocide Against Palestinians in Gaza is the culmination of nine months of meticulous research and spans 296 pages. During our investigation, we interviewed 212 people, conducted extensive fieldwork and analyzed a wide range of visual and digital evidence, including satellite imagery. Crucially, we also analyzed evidence of Israel’s intent, before concluding that Israel has committed — and is continuing to commit — genocide in Gaza.

    In 15 airstrikes we found that Israel killed 334 civilians, including 141 children, and wounded hundreds of others in direct attacks against civilians and without effective warnings. These airstrikes represent a subset of a wider pattern of deliberately indiscriminate attacks. We also documented how Israel has deliberately imposed conditions of life on Palestinians in Gaza calculated to bring about their physical destruction. Within the context of Israel’s long-standing apartheid and unlawful occupation, the inescapable conclusion is that Israel committed these acts with the intent of destroying the Palestinians in Gaza.

    Unsurprisingly, the world has been reluctant to recognize the situation in Gaza as genocide. After all, if what we have been witnessing every day for 14 months was indeed genocide, what would that say about the international community?

    The International Court of Justice (ICJ) recognized that a risk exists that genocide could be committed against Palestinians in Gaza, ordering multiple binding measures to prevent it. The International Criminal Court (ICC) further issued arrest warrants for Israel’s prime minister and former minister of defense for war crimes and crimes against humanity.

    As ICJ judge Abdulqawi Yousef put it: “All signs of genocide are flashing red.”

    Not everyone agreed with our findings. Yet  many states have reached the same conclusion before us. While others may refuse to acknowledge the reality, the EU and its member states are faced with two primary responsibilities under international law: the obligation not to aid or assist genocide and the obligation to prevent it.

    In the absence of unity, EU member states must go it alone

    As European leaders gather in Brussels for the European Council, the new HR/VP Kaja Kallas faces the daunting challenge of convincing all 27 member states to uphold these two fundamental obligations under international law.

    However, in the absence of united action at EU level, individual member states have a duty to act on their own to uphold their obligations to prevent genocide and avoid being complicit in it. In practical terms, this entails five concrete actions.

    The remaining EU member states that continue to export or allow the transfer of arms to Israel must follow the lead of those who have rightly suspended arms exports and transshipments to Israel.

    States must exert diplomatic pressure on Israel, including by publicly recognizing that Israel is committing war crimes, crimes against humanity and genocide, among other violations of international law.

    States must support justice mechanisms, including by safeguarding the ICC from reprisals, supporting the court financially and politically, and publicly committing to enforcing arrest warrants issued by the ICC. Additionally, states have a responsibility to investigate and prosecute international crimes committed in Gaza under universal jurisdiction, or when suspected perpetrators or victims are dual nationals.

    For its part, the EU must not allow Israel to decimate the United Nations Relief and Works Agency (UNRWA) for Palestine Refugees, which remains the only lifeline for millions of Palestinians. This requires both financial and political support for the UNRWA, as well as supporting Norway’s efforts at the UN General Assembly to challenge Israel’s attempt to dismantle it.

    Finally, regardless of EU leaders’ discourse on the ‘day after’ and long-term prospects for peace, as long as Israeli settlement expansion and unlawful occupation and apartheid persist, this will remain empty rhetoric. The EU must start by implementing their legal obligations, as clarified by the ICJ, to ban trade and investments that contribute to maintaining Israel’s illegal occupation.

    In the pages of history, two groups of politicians will be remembered: those who remained silent in the face of Gaza’s genocide — and those who rose up to stop it.

    *This article was originally published on 19 December in EUobserver.

    MIL OSI NGO –

  • MIL-OSI USA: US Department of Labor, Office of the Trade Representative announce resolution of alleged labor rights’ denial at Hidalgo manufacturer

    Source: US Department of Labor

    WASHINGTON – The U.S. and Mexican governments have announced the successful resolution to a Rapid Response Labor Mechanism petition alleging the denial of workers’ rights at Odisa Concrete Equipment, a manufacturer in Hidalgo. 

    To remediate workers’ claims, the Mexican government facilitated a resolution with Odisa taking several actions, including posting a neutrality statement, creating guidelines on freedom of association and collective bargaining, reinstating a fired worker with back pay and refunding improperly withheld union dues to workers. In addition, the Mexican Ministry of Labor provided labor rights training to workers.

    “We commend the actions taken by Odisa Concrete Equipment and the government of Mexico to resolve the alleged labor violations at the facility and ensure that freedom of association is fully respected,” said Deputy Undersecretary for International Labor Affairs Thea Lee. “The reinstatement of an improperly dismissed worker involved in union activity underscores a commitment to ensuring that workers can freely choose their union and engage in collective bargaining.” 

    This is the 29th use of the U.S.-Mexico-Canada Agreement’s Rapid Response Labor Mechanism by the department and the U.S. Office of the Trade Representative to benefit workers in partnership with Mexico.

    “The successful resolution of this case reflects the RRM’s effectiveness as a tool for holding employers accountable and enabling workers to freely exercise their union rights,” said Ambassador Katherine Tai.  “We commend the government of Mexico and Odisa for their actions to remediate the denials of labor rights that occurred. The Biden-Harris administration celebrates this outcome and recalls that nearly 42,000 workers have directly benefited from the mechanism to date.”

    Founded in 1976, Odisa Concrete Equipment S.A. de C.V. manufactures and exports concrete equipment and material-handling equipment, including sheet metal and aluminum goods, to more than 35 countries. 

    Learn more about the department’s international work.

    MIL OSI USA News –

  • MIL-OSI USA: Two California Men Charged in Largest NFT Scheme Prosecuted to Date

    Source: US State of North Dakota

    Note: View the indictment here. 

    A six-count indictment was unsealed today in Los Angeles charging two California men with defrauding investors of more than $22 million in cryptocurrency through a series of digital asset project “rug pulls,” a type of fraud scheme in which the creator of a nonfungible token (NFT) or other digital asset project solicits funds from investors for the project and then abruptly abandons the project and fraudulently retains investors’ funds. Both men were arrested yesterday by Homeland Security Investigations (HSI) in Los Angeles.

    According to court documents, from May 2021 to May 2024, Gabriel Hay, 23, of Beverly Hills, and Gavin Mayo, 23, of Thousand Oaks, sponsored several NFT and other digital asset projects and undertook promotional activities in support of those projects. Hay and Mayo allegedly made or caused others to make materially false and misleading statements regarding the digital asset projects being launched and provided false and misleading project “roadmaps” detailing plans for the NFTs or other digital asset projects after their launch that the sponsors never intended to fulfill. For example, the indictment alleges that in promoting the Vault of Gems NFT project, Hay and Mayo falsely claimed that the project would be the “first NFT project to be pegged to a hard asset.” However, instead of pursuing the Vault of Gems project or others as they had represented they would, Hay and Mayo allegedly abandoned the projects after collecting millions in funds from investors.

    “Gabriel Hay and Gavin Mayo allegedly defrauded investors in digital asset projects of tens of millions of dollars and threatened an individual who attempted to expose their roles in these fraudulent schemes,” said Principal Deputy Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division. “Fraudsters take advantage of new technologies and financial products to steal investors’ hard-earned money. The department is committed to protecting investors and will continue to work with our law enforcement partners to root out fraud involving cryptocurrency and other digital assets and bring offenders to justice.”

    “For three years, Hay and Mayo apparently lied to their investors in order to defraud them out of millions of dollars,” said HSI Executive Associate Director Katrina W. Berger. “Such technological fraud schemes cost investors millions of dollars every year. Just because such crimes aren’t violent does not mean they are victimless. HSI will continue to investigate, disrupt, and dismantle such cryptocurrency fraud networks.”

    “Whenever a new investment trend occurs, scammers are sure to follow,” said U.S. Attorney Martin Estrada for the Central District of California. “My office and our law enforcement partners will continue our efforts to protect consumers and punish wrongdoers involved in crypto fraud.”

    Hay, Mayo, and others allegedly used these tactics with a variety of digital asset projects, including Vault of Gems, Faceless, Sinful Souls, Clout Coin, Dirty Dogs, Uncovered, MoonPortal, Squiggles, and Roost Coin. Hay and Mayo also allegedly used a variety of means to conceal their involvement in the fraudulent projects by falsely identifying other individuals or causing other individuals to be falsely identified as owners of the projects. When one project manager on the Faceless NFT project exposed Hay and Mayo as being behind that project, Hay and Mayo allegedly embarked on a harassment campaign against the project manager, sending or causing the sending of messages to the project manager and his parents for the purpose of intimidating him and his family and causing them great emotional distress.

    Hay and Mayo are each charged with one count of conspiracy to commit wire fraud, two counts of wire fraud, and one count of stalking. If convicted, they each face a maximum penalty of 20 years in prison on each of the conspiracy and wire fraud counts and a maximum penalty of five years on the stalking count. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    HSI Baltimore is investigating the case.

    Trial Attorneys Tian Huang and Tamara Livshiz of the Criminal Division’s Fraud Section, both members of the National Cryptocurrency Enforcement Team (NCET), and Assistant U.S. Attorney Maxwell Coll for the Central District of California are prosecuting the case.

    The NCET was established to combat the growing illicit use of cryptocurrencies and digital assets. Within the Criminal Division’s Computer Crime and Intellectual Property Section, the NCET conducts and supports investigations into individuals and entities that are enabling the use of digital assets to commit and facilitate a variety of crimes, with a particular focus on virtual currency exchanges, mixing and tumbling services, and infrastructure providers. The NCET also works to set strategic priorities regarding digital asset technologies, identify areas for increased investigative and prosecutorial focus, and lead the department’s efforts to collaborate with domestic and foreign government agencies as well as the private sector to aggressively investigate and prosecute crimes involving cryptocurrency and digital assets.

    If you believe that you are a victim of any of the scams listed above or other scams involving the defendants, please email rugpullvictims@hsi.dhs.gov.

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

    MIL OSI USA News –

  • MIL-OSI Economics: IMF Executive Board Completes the Sixth Review of the Extended Arrangement under the Extended Fund Facility for Ukraine

    Source: International Monetary Fund

    December 20, 2024

    • The IMF Board today completed the Sixth Review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about US$1.1 billion (SDR 834.9 million) to Ukraine, which will be channeled by the authorities for budget support.
    • Ukraine’s economy remains resilient, and performance remains strong under the EFF despite challenging conditions. The authorities met all end-September quantitative performance criteria and structural benchmarks.
    • Sustained reform momentum, progress at domestic revenue mobilization, and timely disbursement of external support are necessary to safeguard macroeconomic stability, restore fiscal and debt sustainability, and improve governance.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) today completed the Sixth Review of the EFF, enabling the authorities to draw US$1.1 billion (SDR 834.9 million), which will be channeled by the authorities for budget support. This will bring the total disbursements under the IMF-supported program to US$9.8 billion.

    Ukraine’s 48-month EFF, with access of SDR 11.6 billion (equivalent to US$15.5 billion, or about 577 percent of quota), was approved on March 31, 2023, and forms part of a US$148 billion support package for Ukraine. The authorities’ IMF-supported program helps anchor policies that sustain fiscal, external, and macro-financial stability at a time of exceptionally high uncertainty. The EFF aims to support the economic recovery, enhance governance, and strengthen institutions with the aim of promoting long-term growth in the context of reconstruction and Ukraine’s path to EU accession.

    Ukraine’s performance under its program remains strong. All end-September and continuous quantitative performance criteria and indicative targets were met. The authorities have also completed a prior action on the enactment of the package of tax measures, have met all end-October structural benchmarks due by the Sixth Review and three of the end-December benchmarks.  

    Economic growth in 2024 has been upgraded given better than expected resilience to the energy shocks. However, a slowdown is expected in 2025 due to an increasingly tight labor market, the impact of Russian attacks on Ukrainian energy infrastructure, and continued uncertainty about the war. Inflation has risen recently, mainly due to food prices, while inflation expectations remain well anchored. Adequate reserves have been sustained by continued sizeable external support. Overall, the outlook remains subject to exceptionally high uncertainty.

    Following the Executive Board discussion on Ukraine, Ms. Kristalina Georgieva, Managing Director of the IMF, issued the following statement[1]:

    “Russia’s war in Ukraine continues to take a devastating social and economic toll on Ukraine. Despite the war, macroeconomic stability is being preserved through skillful policymaking by the Ukrainian authorities as well as substantial external support. The economy has remained resilient, reflecting the continued adaptability of households and firms, although risks are tilted to the downside due to headwinds from attacks on energy infrastructure and a tight labor market. Preparedness and contingency planning are key to enable appropriate policy action should risks materialize.

    The program remains fully financed with a cumulative external financing envelope of US$148 billion in the baseline and US$177 billion in the downside over the 4-year program period, including commitments from the G7’s Extraordinary Revenue Acceleration Loans for Ukraine (ERA) initiative. Full, timely and predictable external support—on terms consistent with debt sustainability—remains essential to maintaining full program financing and safeguarding stability.

    A tax package and 2025 Budget in line with the program baseline have been enacted, but there are few remaining buffers and strict budget execution will be key. Continued progress at domestic revenue mobilization is imperative for Ukraine to meet its high priority spending needs and to restore fiscal sustainability. Strong implementation of the National Revenue Strategy and customs reform will help raise further revenues, improve compliance, combat evasion, and support EU accession.

    After completing the Eurobond exchange in August, the authorities are now focusing on reaching agreement with other holders of external commercial claims, including GDP warrants, in line with their strategy. A swift agreement in line with the program’s debt sustainability objectives would reduce fiscal risks and create space for critical spending needs.

    Inflation has accelerated more than expected in recent months, and the recent tightening of monetary policy was appropriate; the NBU should stand ready to take further action should inflation expectations deteriorate. Allowing exchange rate flexibility will help strengthen the resilience of the economy to external shocks while safeguarding reserves.

    The financial sector remains stable, but vigilance is needed given heightened risks. Progress on strengthening bank resolution and risk-based supervision, stress-testing frameworks and contingency planning should be sustained.

    Reform momentum in anticorruption and governance needs to be sustained. In particular, the authorities need to advance the creation of a new court for high public disputes, and amend the criminal procedure code.”

    Table 1. Ukraine: Selected Economic and Social Indicators, 2021–27

    2021

     

    2022

     

    2023

    2024

    2025

    2026

    2027

    Act.

    Act.

    Act.

    Proj.

    Proj.

    Proj.

    Proj.

    Real economy (percent change, unless otherwise indicated)

    Nominal GDP (billions of Ukrainian hryvnias) 1/

    5,451

    		  

    5,239

    		  

    6,538

    7,629

    8,680

    9,874

    10,937

    Real GDP 1/

    3.4

    		  

    -28.8

    		  

    5.3

    4.0

    2.5-3.5

    5.3

    4.5

    Contributions:

    		                  

    Domestic demand

    12.9

    		  

    -22.9

    		  

    13.9

    6.5

    4.9

    4.5

    4.2

    Private consumption

    4.7

    		  

    -16.8

    		  

    5.5

    3.3

    3.2

    3.8

    3.5

    Public consumption

    0.1

    		  

    12.5

    		  

    2.6

    -0.1

    -1.1

    -2.5

    -1.9

    Investment

    8.1

    		  

    -18.6

    		  

    5.8

    3.3

    2.9

    3.2

    2.6

    Net exports

    -9.5

    		  

    -5.9

    		  

    -8.6

    -2.5

    -2.4

    0.8

    0.3

    GDP deflator

    24.8

    		  

    34.9

    		  

    18.5

    12.2

    11.0

    8.0

    6.0

    Unemployment rate (ILO definition; period average, percent)

    9.8

    		  

    24.5

    		  

    19.1

    13.3

    11.8

    10.2

    9.4

    Consumer prices (period average)

    9.4

    		  

    20.2

    		  

    12.9

    6.2

    10.3

    7.7

    5.0

    Consumer prices (end of period)

    10.0

    		  

    26.6

    		  

    5.1

    10.0

    7.5

    6.6

    5.0

    Nominal wages (average)

    20.8

    		  

    1.0

    		  

    20.1

    19.1

    18.9

    14.1

    10.5

    Real wages (average)

    10.5

    		  

    -16.0

    		  

    6.4

    12.1

    7.8

    6.0

    5.3

    Savings (percent of GDP)

    12.5

    		  

    17.0

    		  

    9.8

    8.5

    2.9

    9.1

    15.2

    Private

    12.7

    		  

    30.2

    		  

    24.6

    24.1

    17.9

    14.7

    13.6

    Public

    -0.2

    		  

    -13.1

    		  

    -14.8

    -15.6

    -14.9

    -5.6

    1.5

    Investment (percent of GDP)

    14.5

    		  

    12.1

    		  

    15.1

    16.9

    17.5

    19.3

    20.4

    Private

    10.7

    		  

    9.6

    		  

    10.4

    13.6

    13.6

    15.0

    15.3

    Public

    3.8

    		  

    2.5

    		  

    4.8

    3.4

    4.0

    4.3

    5.1
                     

    General Government (percent of GDP)

    		                  

    Fiscal balance 2/

    -4.0

    		  

    -15.6

    		  

    -19.6

    -18.9

    -18.9

    -9.9

    -3.6

    Fiscal balance, excl. grants 2/

    -4.0

    		  

    -24.8

    		  

    -26.1

    -24.3

    -19.7

    -10.1

    -4.6

    External financing (net)

    2.4

    		  

    10.7

    		  

    16.5

    14.8

    18.0

    8.9

    1.4

    Domestic financing (net), of which:

    1.6

    		  

    5.0

    		  

    3.1

    4.1

    0.9

    1.0

    2.2

    NBU

    -0.3

    		  

    7.3

    		  

    -0.2

    -0.2

    -0.2

    -0.1

    -0.1

    Commercial banks

    1.5

    		  

    -1.5

    		  

    2.5

    4.1

    1.0

    0.9

    2.2

    Public and publicly-guaranteed debt

    48.9

    		  

    77.7

    		  

    82.3

    92.2

    104.3

    105.8

    101.8
                     

    Money and credit (end of period, percent change)

    		                  

    Base money

    11.2

    		  

    19.6

    		  

    23.3

    15.0

    17.2

    12.0

    10.1

    Broad money

    12.0

    		  

    20.8

    		  

    23.0

    16.7

    14.4

    12.1

    10.1

    Credit to nongovernment

    8.4

    		  

    -3.1

    		  

    -0.5

    11.6

    12.9

    21.0

    17.6
                     

    Balance of payments (percent of GDP)

    		                  

    Current account balance

    -1.9

    		  

    4.9

    		  

    -5.4

    -8.4

    -14.6

    -10.1

    -5.3

    Foreign direct investment

    3.8

    		  

    0.1

    		  

    2.5

    2.5

    2.4

    4.1

    5.2

    Gross reserves (end of period, billions of U.S. dollars)

    30.9

    		  

    28.5

    		  

    40.5

    42.3

    43.3

    47.9

    50.1

    Months of next year’s imports of goods and services

    4.5

    		  

    3.8

    		  

    5.3

    5.3

    5.4

    5.8

    5.9

    Percent of short-term debt (remaining maturity)

    67.5

    		  

    64.3

    		  

    87.1

    102.7

    99.8

    112.3

    116.0

    Percent of the IMF composite metric (float)

    104.4

    		  

    103.6

    		  

    124.1

    112.0

    100.5

    100.2

    102.0

    Goods exports (annual volume change in percent)

    35.3

    		  

    -44.7

    		  

    -15.8

    15.5

    1.6

    16.7

    10.6

    Goods imports (annual volume change in percent)

    16.9

    		  

    -23.6

    		  

    21.7

    9.3

    6.9

    8.9

    9.4

    Goods terms of trade (percent change)

    -8.4

    		  

    -11.6

    		  

    3.6

    0.3

    -1.9

    1.2

    1.4
                     

    Exchange rate

    		                  

    Hryvnia per U.S. dollar (end of period)

    27.3

    		  

    36.6

    		  

    38.0

    …

    …

    …

    …

    Hryvnia per U.S. dollar (period average)

    27.3

    		  

    32.3

    		  

    36.6

    …

    …

    …

    …

    Real effective rate (deflator-based, percent change)

    8.8

    		  

    30.5

    		  

    -2.0

    …

    …

    …

    …

    Memorandum items:

    Per capita GDP / Population (2017): US$2,640 / 44.8 million

    Literacy / Poverty rate (2022 est 3/): 100 percent / 25 percent

    Sources: Ukrainian authorities; World Bank, World Development Indicators; and IMF staff estimates.

    1/ GDP is compiled as per SNA 2008 and excludes territories that are or were in direct combat zones and temporarily occupied by Russia (consistent with   the TMU).

    2/ The general government includes the central and local governments and the social funds.

    3/ Based on World Bank estimates.
                                     

    [1] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Camila Perez

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

    @IMFSpokesperson

    MIL OSI Economics –

  • MIL-OSI: Onfolio Holdings Inc. Announces Quarterly Preferred Stock Cash Dividend of $0.75 Per Share

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., Dec. 20, 2024 (GLOBE NEWSWIRE) — Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (OTC: ONFOP) (the “Company” or “Onfolio”), a company that acquires and manages a diversified portfolio of online businesses, today announced that its Board of Directors has declared a regular quarterly dividend of $0.75 per share on the outstanding shares of the Company’s series A preferred stock.

    The dividend is payable on December 31, 2024, to shareholders of record as of the close of business on December 21, 2024.

    About Onfolio Holdings

    Onfolio acquires and manages a diversified portfolio of online businesses. Onfolio acquires business that meet its investment criteria, being that such businesses operate in sectors with long-term growth opportunities, have positive and stable cash flows, face minimal threats of technological or competitive obsolescence and can be managed by our existing team or have strong management teams largely in place. The Company excels at finding acquisition opportunities where the seller has not fully optimized their business, and Onfolio’s experience and skillset allows it to add increased value to these existing businesses. Visit www.onfolio.com for more information.

    Safe Harbor Statement

    The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continues,” “estimates,” “projects,” “intends,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us in Item 1.A “Risk Factors” in our most recent Form 10-K and Form 10-Q; other risks to which our Company is subject; other factors beyond the Company’s control. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Contact
    investors@onfolio.com

    The MIL Network –

  • MIL-OSI Russia: IMF Executive Board Completes the Sixth Review of the Extended Arrangement under the Extended Fund Facility for Ukraine

    Source: IMF – News in Russian

    December 20, 2024

    • The IMF Board today completed the Sixth Review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about US$1.1 billion (SDR 834.9 million) to Ukraine, which will be channeled by the authorities for budget support.
    • Ukraine’s economy remains resilient, and performance remains strong under the EFF despite challenging conditions. The authorities met all end-September quantitative performance criteria and structural benchmarks.
    • Sustained reform momentum, progress at domestic revenue mobilization, and timely disbursement of external support are necessary to safeguard macroeconomic stability, restore fiscal and debt sustainability, and improve governance.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) today completed the Sixth Review of the EFF, enabling the authorities to draw US$1.1 billion (SDR 834.9 million), which will be channeled by the authorities for budget support. This will bring the total disbursements under the IMF-supported program to US$9.8 billion.

    Ukraine’s 48-month EFF, with access of SDR 11.6 billion (equivalent to US$15.5 billion, or about 577 percent of quota), was approved on March 31, 2023, and forms part of a US$148 billion support package for Ukraine. The authorities’ IMF-supported program helps anchor policies that sustain fiscal, external, and macro-financial stability at a time of exceptionally high uncertainty. The EFF aims to support the economic recovery, enhance governance, and strengthen institutions with the aim of promoting long-term growth in the context of reconstruction and Ukraine’s path to EU accession.

    Ukraine’s performance under its program remains strong. All end-September and continuous quantitative performance criteria and indicative targets were met. The authorities have also completed a prior action on the enactment of the package of tax measures, have met all end-October structural benchmarks due by the Sixth Review and three of the end-December benchmarks.  

    Economic growth in 2024 has been upgraded given better than expected resilience to the energy shocks. However, a slowdown is expected in 2025 due to an increasingly tight labor market, the impact of Russian attacks on Ukrainian energy infrastructure, and continued uncertainty about the war. Inflation has risen recently, mainly due to food prices, while inflation expectations remain well anchored. Adequate reserves have been sustained by continued sizeable external support. Overall, the outlook remains subject to exceptionally high uncertainty.

    Following the Executive Board discussion on Ukraine, Ms. Kristalina Georgieva, Managing Director of the IMF, issued the following statement[1]:

    “Russia’s war in Ukraine continues to take a devastating social and economic toll on Ukraine. Despite the war, macroeconomic stability is being preserved through skillful policymaking by the Ukrainian authorities as well as substantial external support. The economy has remained resilient, reflecting the continued adaptability of households and firms, although risks are tilted to the downside due to headwinds from attacks on energy infrastructure and a tight labor market. Preparedness and contingency planning are key to enable appropriate policy action should risks materialize.

    The program remains fully financed with a cumulative external financing envelope of US$148 billion in the baseline and US$177 billion in the downside over the 4-year program period, including commitments from the G7’s Extraordinary Revenue Acceleration Loans for Ukraine (ERA) initiative. Full, timely and predictable external support—on terms consistent with debt sustainability—remains essential to maintaining full program financing and safeguarding stability.

    A tax package and 2025 Budget in line with the program baseline have been enacted, but there are few remaining buffers and strict budget execution will be key. Continued progress at domestic revenue mobilization is imperative for Ukraine to meet its high priority spending needs and to restore fiscal sustainability. Strong implementation of the National Revenue Strategy and customs reform will help raise further revenues, improve compliance, combat evasion, and support EU accession.

    After completing the Eurobond exchange in August, the authorities are now focusing on reaching agreement with other holders of external commercial claims, including GDP warrants, in line with their strategy. A swift agreement in line with the program’s debt sustainability objectives would reduce fiscal risks and create space for critical spending needs.

    Inflation has accelerated more than expected in recent months, and the recent tightening of monetary policy was appropriate; the NBU should stand ready to take further action should inflation expectations deteriorate. Allowing exchange rate flexibility will help strengthen the resilience of the economy to external shocks while safeguarding reserves.

    The financial sector remains stable, but vigilance is needed given heightened risks. Progress on strengthening bank resolution and risk-based supervision, stress-testing frameworks and contingency planning should be sustained.

    Reform momentum in anticorruption and governance needs to be sustained. In particular, the authorities need to advance the creation of a new court for high public disputes, and amend the criminal procedure code.”

    Table 1. Ukraine: Selected Economic and Social Indicators, 2021–27

    2021

     

    2022

     

    2023

    2024

    2025

    2026

    2027

    Act.

    Act.

    Act.

    Proj.

    Proj.

    Proj.

    Proj.

    Real economy (percent change, unless otherwise indicated)

    Nominal GDP (billions of Ukrainian hryvnias) 1/

    5,451

    		  

    5,239

    		  

    6,538

    7,629

    8,680

    9,874

    10,937

    Real GDP 1/

    3.4

    		  

    -28.8

    		  

    5.3

    4.0

    2.5-3.5

    5.3

    4.5

    Contributions:

    		                  

    Domestic demand

    12.9

    		  

    -22.9

    		  

    13.9

    6.5

    4.9

    4.5

    4.2

    Private consumption

    4.7

    		  

    -16.8

    		  

    5.5

    3.3

    3.2

    3.8

    3.5

    Public consumption

    0.1

    		  

    12.5

    		  

    2.6

    -0.1

    -1.1

    -2.5

    -1.9

    Investment

    8.1

    		  

    -18.6

    		  

    5.8

    3.3

    2.9

    3.2

    2.6

    Net exports

    -9.5

    		  

    -5.9

    		  

    -8.6

    -2.5

    -2.4

    0.8

    0.3

    GDP deflator

    24.8

    		  

    34.9

    		  

    18.5

    12.2

    11.0

    8.0

    6.0

    Unemployment rate (ILO definition; period average, percent)

    9.8

    		  

    24.5

    		  

    19.1

    13.3

    11.8

    10.2

    9.4

    Consumer prices (period average)

    9.4

    		  

    20.2

    		  

    12.9

    6.2

    10.3

    7.7

    5.0

    Consumer prices (end of period)

    10.0

    		  

    26.6

    		  

    5.1

    10.0

    7.5

    6.6

    5.0

    Nominal wages (average)

    20.8

    		  

    1.0

    		  

    20.1

    19.1

    18.9

    14.1

    10.5

    Real wages (average)

    10.5

    		  

    -16.0

    		  

    6.4

    12.1

    7.8

    6.0

    5.3

    Savings (percent of GDP)

    12.5

    		  

    17.0

    		  

    9.8

    8.5

    2.9

    9.1

    15.2

    Private

    12.7

    		  

    30.2

    		  

    24.6

    24.1

    17.9

    14.7

    13.6

    Public

    -0.2

    		  

    -13.1

    		  

    -14.8

    -15.6

    -14.9

    -5.6

    1.5

    Investment (percent of GDP)

    14.5

    		  

    12.1

    		  

    15.1

    16.9

    17.5

    19.3

    20.4

    Private

    10.7

    		  

    9.6

    		  

    10.4

    13.6

    13.6

    15.0

    15.3

    Public

    3.8

    		  

    2.5

    		  

    4.8

    3.4

    4.0

    4.3

    5.1
                     

    General Government (percent of GDP)

    		                  

    Fiscal balance 2/

    -4.0

    		  

    -15.6

    		  

    -19.6

    -18.9

    -18.9

    -9.9

    -3.6

    Fiscal balance, excl. grants 2/

    -4.0

    		  

    -24.8

    		  

    -26.1

    -24.3

    -19.7

    -10.1

    -4.6

    External financing (net)

    2.4

    		  

    10.7

    		  

    16.5

    14.8

    18.0

    8.9

    1.4

    Domestic financing (net), of which:

    1.6

    		  

    5.0

    		  

    3.1

    4.1

    0.9

    1.0

    2.2

    NBU

    -0.3

    		  

    7.3

    		  

    -0.2

    -0.2

    -0.2

    -0.1

    -0.1

    Commercial banks

    1.5

    		  

    -1.5

    		  

    2.5

    4.1

    1.0

    0.9

    2.2

    Public and publicly-guaranteed debt

    48.9

    		  

    77.7

    		  

    82.3

    92.2

    104.3

    105.8

    101.8
                     

    Money and credit (end of period, percent change)

    		                  

    Base money

    11.2

    		  

    19.6

    		  

    23.3

    15.0

    17.2

    12.0

    10.1

    Broad money

    12.0

    		  

    20.8

    		  

    23.0

    16.7

    14.4

    12.1

    10.1

    Credit to nongovernment

    8.4

    		  

    -3.1

    		  

    -0.5

    11.6

    12.9

    21.0

    17.6
                     

    Balance of payments (percent of GDP)

    		                  

    Current account balance

    -1.9

    		  

    4.9

    		  

    -5.4

    -8.4

    -14.6

    -10.1

    -5.3

    Foreign direct investment

    3.8

    		  

    0.1

    		  

    2.5

    2.5

    2.4

    4.1

    5.2

    Gross reserves (end of period, billions of U.S. dollars)

    30.9

    		  

    28.5

    		  

    40.5

    42.3

    43.3

    47.9

    50.1

    Months of next year’s imports of goods and services

    4.5

    		  

    3.8

    		  

    5.3

    5.3

    5.4

    5.8

    5.9

    Percent of short-term debt (remaining maturity)

    67.5

    		  

    64.3

    		  

    87.1

    102.7

    99.8

    112.3

    116.0

    Percent of the IMF composite metric (float)

    104.4

    		  

    103.6

    		  

    124.1

    112.0

    100.5

    100.2

    102.0

    Goods exports (annual volume change in percent)

    35.3

    		  

    -44.7

    		  

    -15.8

    15.5

    1.6

    16.7

    10.6

    Goods imports (annual volume change in percent)

    16.9

    		  

    -23.6

    		  

    21.7

    9.3

    6.9

    8.9

    9.4

    Goods terms of trade (percent change)

    -8.4

    		  

    -11.6

    		  

    3.6

    0.3

    -1.9

    1.2

    1.4
                     

    Exchange rate

    		                  

    Hryvnia per U.S. dollar (end of period)

    27.3

    		  

    36.6

    		  

    38.0

    …

    …

    …

    …

    Hryvnia per U.S. dollar (period average)

    27.3

    		  

    32.3

    		  

    36.6

    …

    …

    …

    …

    Real effective rate (deflator-based, percent change)

    8.8

    		  

    30.5

    		  

    -2.0

    …

    …

    …

    …

    Memorandum items:

    Per capita GDP / Population (2017): US$2,640 / 44.8 million

    Literacy / Poverty rate (2022 est 3/): 100 percent / 25 percent

    Sources: Ukrainian authorities; World Bank, World Development Indicators; and IMF staff estimates.

    1/ GDP is compiled as per SNA 2008 and excludes territories that are or were in direct combat zones and temporarily occupied by Russia (consistent with   the TMU).

    2/ The general government includes the central and local governments and the social funds.

    3/ Based on World Bank estimates.
                                     

    [1] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Camila Perez

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/12/20/pr-24493-ukraine-imf-completes-6th-rev-of-extended-arrangement-under-eff

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI USA: Governor Cooper Volunteers in Buncombe County, Thanks Volunteer Organizations Involved in Relief Efforts

    Source: US State of North Carolina

    Headline: Governor Cooper Volunteers in Buncombe County, Thanks Volunteer Organizations Involved in Relief Efforts

    Governor Cooper Volunteers in Buncombe County, Thanks Volunteer Organizations Involved in Relief Efforts
    mseets

    Today, Governor Roy Cooper volunteered at the Asheville Buncombe Community Christian Ministry (ABCCM) Servant Leadership Center and thanked volunteer organizations involved in relief efforts. The Governor was joined by Asheville Buncombe Community Christian Ministry Chief Operating Officer Brandon Wilson, United Way of Asheville and Buncombe County President and CEO Dan Leroy and leaders from various volunteer organizations across North Carolina.

    “Western North Carolina will continue to need help for years, and state government coordination with volunteer groups has been one of the most effective ways to recover and rebuild,” said Governor Cooper. “We are determined to succeed and we are deeply grateful for the volunteers who continue to work tirelessly in our communities.”

    “On behalf of WNC we are honored to have Governor Cooper visit and work alongside ABCCM, the churches, and our community during Hurricane Helene relief efforts,” said Asheville Buncombe Community Christian Ministry Chief Operating Officer Brandon Wilson. “His collaboration and presence today participating with our community partners packing food boxes has exemplified his leadership as Governor and wish him the best in his next chapter.”

    “During this holiday season, despite so much tragedy and loss, it’s important to take a moment to celebrate the extraordinary cooperation and service of countless nonprofit organizations, churches, businesses, government agencies and volunteers that has made Western North Carolina’s response to Helene so remarkable,” said United Way of Asheville and Buncombe County President and CEO Dan Leroy. “Our ability to recover from this horrific disaster, and come out the other side even stronger, will depend directly on our ability to work together. This is what United Way has always been—and will always be—about.”

    Governor Cooper established the state’s disaster relief fund to raise donations to help western North Carolina rebuild. $16.8 million has been raised for the NC Disaster Relief Fund to help with Hurricane Helene recovery.

    Governor Cooper has continued to support significant investments in Western North Carolina. In November, Governor Cooper traveled to Washington D.C. with a delegation to request more than $25 billion in federal funding for Helene recovery.

    ###

    Dec 20, 2024

    MIL OSI USA News –

  • MIL-OSI USA: United States Joins Lawsuit Against Former Executives of Kabbage Inc. Alleging False Claims Act Violations in Connection with Paycheck Protection Program Lending

    Source: US State of California

    The United States has intervened and filed a complaint against Robert Frohwein, Kathryn Petralia and Spencer Robinson, three former executives of Kabbage Inc., a now-bankrupt financial technology company. The United States alleges that they violated the False Claims Act by submitting and causing the submission of false claims for loan forgiveness, loan guarantees and processing fees to the Small Business Administration (SBA) in connection with Kabbage’s participation in the Paycheck Protection Program (PPP).

    “The PPP was intended to provide critical assistance to eligible businesses during the economic uncertainty caused by the pandemic,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “The department is committed to ensuring that PPP lenders — including their executives — are held accountable for contributing to the misuse of PPP funds by knowingly failing to comply with applicable program requirements, including approving PPP loans in inflated amounts and to ineligible borrowers.”

    Congress created the PPP in March 2020, as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, to provide federally guaranteed loans to small businesses suffering economic hardship due to the COVID-19 pandemic. The SBA administered the PPP. The CARES Act authorized private lenders to approve PPP loans for eligible borrowers who could later seek forgiveness of the loans so long as they used loan funds on employee payroll and other eligible expenses. Among other things, participating PPP lenders were required to confirm borrowers’ average monthly payroll costs by reviewing the payroll documentation submitted with the borrower’s application. Lenders were also required to follow applicable Bank Secrecy Act/Anti-Money Laundering requirements to help combat fraud. Any unforgiven or defaulted PPP loans made by lenders were guaranteed by the SBA, so long as the lenders adhered to PPP requirements. Lenders who originated PPP loans were paid a fixed fee calculated as a percentage of the loan amount by the SBA.

    According to the government’s complaint, Frohwein and Petralia co-founded Kabbage in 2008 and served as the company’s chief executive officer and president, respectively, while Robinson formerly served as the company’s head of strategy. Kabbage was approved as a PPP lender in 2020 and approved more than $7 billion in PPP loans that year for which the company was paid more than $217 million in processing fees after certifying that it had complied with all applicable lending requirements.

    The complaint alleges that, between April and October 2020, the defendants knowingly submitted or caused the submission of false claims for loan guarantees, loan forgiveness and processing fees relating to tens of thousands of PPP loans that were systemically inflated due to calculation errors by Kabbage. These errors allegedly included Kabbage’s double-counting of state and local taxes paid by employees and the failure to exclude annual compensation in excess of $100,000 per employee from its calculation of payroll costs. Additionally, the lawsuit alleges that the defendants knowingly submitted or caused the submission of false claims for processing fees related to tens of thousands of PPP loans where Kabbage failed to implement appropriate fraud controls. The government’s complaint alleges that the defendants ignored these violations to maximize PPP processing fees before selling off the majority of Kabbage’s assets in October 2020.

    Kabbage Inc., which is now winding down its operations as KServicing Wind Down Corp. after filing for bankruptcy in the wake of the 2020 asset sale, previously agreed to resolve allegations relating to its role in the submission of false claims to the SBA. As part of that settlement, the United States received a general unsecured claim in the bankruptcy proceeding of up to $120 million, and the company received a credit for $12.5 million that Kabbage returned to SBA during the department’s investigation.

    “The PPP was a light providing hope to businesses in the midst of the shadow of a global pandemic,” said U.S. Attorney Damien M. Diggs for the Eastern District of Texas. “Unfortunately, some unscrupulous lenders and executives took advantage of that situation by lining their pockets with ill-gotten incentive payments from processing PPP loans despite not performing even the most cursory fraud checks or reviews of borrower documentation. Individuals who shirked their responsibilities at the expense of the public fisc must be held accountable. This lawsuit against Kabbage’s former executives demonstrates our firm commitment to holding all parties responsible for their part in causing the submission of false claims to the PPP.”

    “SBA’s lending partners have a responsibility to ensure only eligible borrowers gain access to SBA’s programs,” said Special Agent in Charge Brady Ipock of the SBA Office of Inspector General (SBA OIG)’s Central Region. “SBA OIG stands ready to support the Justice Department in rooting out greed and wrongful actions. I want to thank the U.S. Attorney’s Office and our law enforcement partners for their support and dedication to pursuing justice in this case.”

    The lawsuit was originally filed under the qui tam or whistleblower provisions of the False Claims Act by Paul Pietschner, a former analyst in Kabbage’s collections department. The FCA permits private parties to file suit on behalf of the United States for false claims and to share in any recovery. The FCA also permits the United States to intervene in such an action, as it has done in this case. A defendant who violates the act is subject to liability for three times the government’s losses, plus applicable penalties. 

    On May 17, 2021, Attorney General Merrick B. Garland established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Justice Department in partnership with agencies across the federal government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international actors committing civil and criminal fraud and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit www.justice.gov/coronavirus.

    Tips and complaints from all sources about potential fraud affecting COVID-19 government relief programs can be reported by visiting the webpage of the Civil Division’s Fraud Section, which can be found here. Anyone with information about allegations of attempted fraud involving COVID-19 can also report it by calling the Justice Department’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    Trial Attorney Sarah E. Loucks of the Civil Division’s Commercial Litigation Branch, Fraud Section and Assistant U.S. Attorney Betty Young for the Eastern District of Texas are handling the matter, with assistance provided by the SBA’s Office of General Counsel and Office of the Inspector General.

    The case is captioned United States ex rel. Pietschner v. Kabbage, Inc., et al., No. 4:21-cv-110-SDJ (EDTX).

    The claims asserted by the United States are allegations only. There has been no determination of liability.

    MIL OSI USA News –

  • MIL-OSI USA: Medicare Advantage Provider Independent Health to Pay Up To $98M to Settle False Claims Act Suit

    Source: US State of California

    Independent Health Association and its affiliate, Independent Health Corporation (collectively, Independent Health) have agreed to pay up to $98 million to resolve allegations that they violated the False Claims Act by knowingly submitting or causing the submission of invalid diagnosis codes to Medicare for Medicare Advantage Plan enrollees to increase payments that Independent Health received from Medicare. Independent Health is headquartered in Buffalo, New York.

    Under Medicare Advantage, also known as the Medicare Part C program, Medicare beneficiaries have the option of enrolling in managed care insurance plans called Medicare Advantage Plans (MA Plans). MA Plans are paid a per-person amount to provide Medicare-covered benefits to beneficiaries who enroll in one of their plans. The Centers for Medicare and Medicaid Services (CMS), which oversees the Medicare program, adjusts the payments to MA Plans based on demographic information and the diagnoses of each plan beneficiary. The adjustments are commonly referred to as “risk scores.” In general, a beneficiary with diagnoses more expensive to treat will have a higher risk score, and CMS will make a larger risk-adjusted payment to the MA Plan for that beneficiary.

    Independent Health operates MA plans for beneficiaries living in western New York. As alleged by the United States, Independent Health created a wholly owned subsidiary, DxID LLC, to retrospectively search medical records and query physicians for information that would support additional diagnoses that could be used to generate higher risk scores, and DxID provided these services to Independent Health and other MA Plans. The United States filed a complaint alleging that, from 2011 through at least 2017, Independent Health, with the assistance of DxID and its founder and chief executive, Betsy Gaffney, knowingly submitted diagnoses to CMS that were not supported by the beneficiaries’ medical records in order to inflate Medicare’s payments to Independent Health.

    “The government expects those who participate in Medicare Advantage to provide accurate information to ensure that proper payments are made for the care received by enrolled beneficiaries,” said Deputy Assistant Attorney General Michael Granston of the Justice Department’s Civil Division. “Today’s result sends a clear message to the Medicare Advantage community that the United States will take appropriate action against those who knowingly submit inflated claims for reimbursement.”

    “To protect the integrity of Medicare and other federal health care programs, my office is committed to ensuring that each and every dollar meant for Medicare beneficiaries is spent appropriately and in accordance with the law,” said U.S. Attorney Trini E. Ross for the Western District of New York. “As this settlement makes clear, we will diligently pursue those who defraud government programs.”

    “Medicare Advantage Plans that attempt to game federal programs for profit must be held accountable through rigorous oversight and enforcement,” said Deputy Inspector General Christian J. Schrank of the Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG will continue to work with our law enforcement partners to root out fraud, waste and abuse in federal health care programs.”

    Under the terms of the settlement, Independent Health will make guaranteed payments of $34,500,000 and contingent payments of up to $63,500,000 on behalf it itself and DxID, which ceased operations in 2021. The settlement is based on Independent Health’s ability to pay. Gaffney will separately pay $2,000,000.

    In connection with the settlement, Independent Health entered into a five-year corporate integrity agreement (CIA) with HHS-OIG. The CIA requires, among other things, that Independent Health hire an Independent Review Organization to annually review a sample of Independent Health’s Medicare Advantage patients’ medical records and associated internal controls to help ensure appropriate risk adjustment payments.

    The civil settlement includes the resolution of claims brought under the qui tam or whistleblower provisions of the False Claims Act by Teresa Ross, a former employee of Group Health Cooperative, now Kaiser Foundation Health Plan of Washington (Kaiser). Under the qui tam provisions, a private party can file an action on behalf of the United States and receive a portion of any recovery. The Act permits the government to intervene in such lawsuits as it has done in this case. Ms. Ross will receive at least $8,212,500 of the settlement announced today. Ms. Ross also alleged that Kaiser employed DxID to identify additional diagnoses to be submitted to Medicare for risk adjustment, and the United States previously settled those claims with Kaiser.

    The United States’ intervention in this matter illustrates the government’s emphasis on combating health care fraud. One of the most powerful tools in this effort is the False Claims Act. Tips and complaints from all sources about potential fraud, waste, abuse, and mismanagement, can be reported to HHS, at 800-HHS-TIPS (800-447-8477).

    Attorneys Samson Asiyanbi and David Wiseman of the Civil Division’s Fraud Section and Assistant U.S. Attorney David Coriell and investigator Peggy McFarland for the Western District of New York handled the matter, with assistance from the HHS-OIG Buffalo Regional Office.

    The case is captioned United States ex rel. Ross v. Independent Health Association et al., No. 12-CV-0299(S) (WDNY).

    The claims resolved by the settlement are allegations only. There has been no determination of liability.

    View the settlement here.

    MIL OSI USA News –

  • MIL-OSI USA: United States and Arizona File to Effect Transfer of Land to Be Held in Trust for the Hopi Tribe

    Source: US State of California

    The Justice Department, the Department of the Interior (DOI), the State of Arizona and the Hopi Tribe today announced the filing of a “friendly condemnation” to effect the historic transfer of more than 20,000 acres of land from Arizona to the United States to be held in trust for the Hopi Tribe. Upon the deposit by the Hopi Tribe of $3.9 million, which serves as an estimate of just compensation for the benefit of the State of Arizona, into the Registry of the U.S. District Court for the District of Arizona, these lands will be owned by the United States and then immediately placed into trust for the Hopi Tribe. The lands being transferred are interspersed with Hopi-owned lands and have long been leased to the Hopi Tribe for ranching purposes.

    This is the first of an anticipated series of condemnation actions to ultimately transfer approximately 110,000 acres from Arizona to the United States in trust for the Hopi Tribe. As with subsequent actions, today’s condemnation is filed with the concurrence of Arizona and authorized by the Navajo-Hopi Land Dispute Settlement Act of 1996, which ratified a 1995 resolution to a long-running land dispute in northeastern Arizona between the Hopi Tribe, the Navajo Tribe and the United States. When the title is transferred to the United States, DOI will take the lands into trust for the Hopi Tribe.

    “Today’s filing starts the process of eliminating the interspersed ownership that characterizes much of the lands the Hopi Tribe uses for ranching in northeast Arizona, as was envisioned by the Settlement Act of 1996,” said Assistant Attorney General Todd Kim of the Justice Department’s Environment and Natural Resources Division (ENRD). “Arizona will receive just compensation for the land, and the Hopi Tribe will no longer have to deal with checkerboarded ownership, which will help improve its use for ranching and other agriculture activities.”

    “Today’s filing could initiate historic transfer of more than 20,000 acres back into Hopi Tribe ownership, a first step in the process to transfer an overall 110,000 acres into trust for the Tribes,” said Solicitor Bob Anderson of the Department of the Interior. “All parties stand to benefit, as the State of Arizona will receive just compensation and the Hopi Tribe will take on cohesive ownership across lands that hold sacred and economic significance and will support ranching and agricultural activities of their communities.”

    “After nearly three decades of the Hopi fighting for their rights, I’m proud to enter into this historic agreement,” said Arizona Governor Katie Hobbs. “Every Arizonan should have an opportunity to thrive and a space to call home, and this agreement takes us one step closer to making those Arizona values a reality. While politicians of the past refused to hear the voices of tribal communities in our state, I’m so glad to work side-by-side with them as we build a state that gives every family opportunity. I look forward to continued partnership with Chairman Nuvangyaoma and the 22 tribal governments across our state.”

    “Today is not only a historic day, it is also a day of celebration for the Hopi Tribe. The 1996 Hopi-Navajo Land Settlement Act is being fulfilled; the Hopi Tribe signed the settlement with the United States 30 years ago,” said Chairman Timothy L. Nuvangyaoma of the Hopi Tribe. “I am grateful to everyone who worked on making this a reality; I want to acknowledge the hard-working staff at the Governor’s office, the Arizona State Land Commission, the Department of the Interior and the Department of Justice. A special thank you to Governor Hobbs, Secretary Haaland and Commissioner Sahid for their leadership, collaboration and dedication to this effort. Within Hopi, it is our time of the Soyal’ang ceremony — the start of the New Year and the revitalization of life. It is fitting that this historic moment coincides with such an important time.”

    The acquisition includes all appurtenant water and mineral rights owned by Arizona. However, it is subject to, and will not affect, existing easements and rights of way for public highways and utilities and similar encumbrances.

    Attorneys from ENRD’s Land Acquisition Section are handling the matter.

    MIL OSI USA News –

  • MIL-OSI USA: Jordanian National Pleads Guilty to Explosives Threats and Attack on Energy Facility

    Source: US State of California

    Hashem Younis Hashem Hnaihen, 44, of Orlando, pleaded guilty today to four counts of threatening to use explosives and one count of destruction of an energy facility.

    “With this plea, we are holding this defendant accountable for his threats to carry out hate-fueled mass violence in our country, motivated in part by his desire to ‘warn’ businesses because of their perceived support of Israel,” said Attorney General Merrick B. Garland. “The Justice Department will fiercely protect the right of every person to peacefully express their opinions, beliefs, and ideas, but we have no tolerance for acts and threats of hate-fueled violence that create lasting fear.”

    “Today, the defendant is admitting he attacked a solar power facility, damaged a number of Florida businesses, and left a series of threatening messages about perceived support for Israel,” said Director Christopher Wray of the FBI. “Violence, destruction of property, and threats are simply unacceptable. The FBI will work with our partners to pursue and hold accountable those who commit illegal and destructive acts and cause our citizens to fear for their safety and livelihoods.”

    According to court documents, beginning around June, Hnaihen targeted and attacked businesses in the Orlando area for their perceived support for Israel. Wearing a mask, under the cover of night, Hnaihen smashed the glass front doors of businesses and left behind “Warning Letters.”

    In his letters, which were addressed to the U.S. government, Hnaihen laid out a series of political demands, culminating in a threat to “destroy or explode everything here in whole America. Especially the companies and factories that support the racist state of Israel.”

    Hnaihen’s attacks escalated. At the end of June, as law enforcement worked to identify the masked attacker, Hnaihen broke into a solar power generation facility in Wedgefield, Florida, and spent hours systematically destroying solar panel arrays. He smashed panels, cut wires, and targeted critical electronic equipment. Hnaihen left behind two more copies of his threatening demand letter. Hnaihen’s attacks caused nearly $500,000 in damage.

    Following a multiagency effort, law enforcement identified Hnaihen and arrested him on July 11, shortly after another “warning letter” threatening to “destroy or explode everything” was discovered at an industrial propane gas distribution depot in Orlando.

    Hnaihen faces a maximum penalty of 10 years in prison for each threat offense and a maximum penalty of 20 years in prison for the destruction of an energy facility offense. Hnaihen has also agreed to make full restitution to the victims of the offenses. A sentencing date has not yet been set. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    The FBI is investigating the case.

    Assistant U.S. Attorney Richard Varadan for the Middle District of Florida and Trial Attorneys Ryan White and George Kraehe of the National Security Division’s Counterterrorism Section are prosecuting the case.

    MIL OSI USA News –

  • MIL-OSI Security: United States and Arizona File to Effect Transfer of Land to Be Held in Trust for the Hopi Tribe

    Source: United States Attorneys General

    The Justice Department, the Department of the Interior (DOI), the State of Arizona and the Hopi Tribe today announced the filing of a “friendly condemnation” to effect the historic transfer of more than 20,000 acres of land from Arizona to the United States to be held in trust for the Hopi Tribe. Upon the deposit by the Hopi Tribe of $3.9 million, which serves as an estimate of just compensation for the benefit of the State of Arizona, into the Registry of the U.S. District Court for the District of Arizona, these lands will be owned by the United States and then immediately placed into trust for the Hopi Tribe. The lands being transferred are interspersed with Hopi-owned lands and have long been leased to the Hopi Tribe for ranching purposes.

    This is the first of an anticipated series of condemnation actions to ultimately transfer approximately 110,000 acres from Arizona to the United States in trust for the Hopi Tribe. As with subsequent actions, today’s condemnation is filed with the concurrence of Arizona and authorized by the Navajo-Hopi Land Dispute Settlement Act of 1996, which ratified a 1995 resolution to a long-running land dispute in northeastern Arizona between the Hopi Tribe, the Navajo Tribe and the United States. When the title is transferred to the United States, DOI will take the lands into trust for the Hopi Tribe.

    “Today’s filing starts the process of eliminating the interspersed ownership that characterizes much of the lands the Hopi Tribe uses for ranching in northeast Arizona, as was envisioned by the Settlement Act of 1996,” said Assistant Attorney General Todd Kim of the Justice Department’s Environment and Natural Resources Division (ENRD). “Arizona will receive just compensation for the land, and the Hopi Tribe will no longer have to deal with checkerboarded ownership, which will help improve its use for ranching and other agriculture activities.”

    “Today’s filing could initiate historic transfer of more than 20,000 acres back into Hopi Tribe ownership, a first step in the process to transfer an overall 110,000 acres into trust for the Tribes,” said Solicitor Bob Anderson of the Department of the Interior. “All parties stand to benefit, as the State of Arizona will receive just compensation and the Hopi Tribe will take on cohesive ownership across lands that hold sacred and economic significance and will support ranching and agricultural activities of their communities.”

    “After nearly three decades of the Hopi fighting for their rights, I’m proud to enter into this historic agreement,” said Arizona Governor Katie Hobbs. “Every Arizonan should have an opportunity to thrive and a space to call home, and this agreement takes us one step closer to making those Arizona values a reality. While politicians of the past refused to hear the voices of tribal communities in our state, I’m so glad to work side-by-side with them as we build a state that gives every family opportunity. I look forward to continued partnership with Chairman Nuvangyaoma and the 22 tribal governments across our state.”

    “Today is not only a historic day, it is also a day of celebration for the Hopi Tribe. The 1996 Hopi-Navajo Land Settlement Act is being fulfilled; the Hopi Tribe signed the settlement with the United States 30 years ago,” said Chairman Timothy L. Nuvangyaoma of the Hopi Tribe. “I am grateful to everyone who worked on making this a reality; I want to acknowledge the hard-working staff at the Governor’s office, the Arizona State Land Commission, the Department of the Interior and the Department of Justice. A special thank you to Governor Hobbs, Secretary Haaland and Commissioner Sahid for their leadership, collaboration and dedication to this effort. Within Hopi, it is our time of the Soyal’ang ceremony — the start of the New Year and the revitalization of life. It is fitting that this historic moment coincides with such an important time.”

    The acquisition includes all appurtenant water and mineral rights owned by Arizona. However, it is subject to, and will not affect, existing easements and rights of way for public highways and utilities and similar encumbrances.

    Attorneys from ENRD’s Land Acquisition Section are handling the matter.

    MIL Security OSI –