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Category: Politics

  • MIL-OSI USA: Capito Joins Colleagues in Introducing Energy Choice Act of 2025

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito

    WASHINGTON, D.C. – Recently, U.S. Senator Shelley Moore Capito (R-W.Va.), chairman of the Senate Environment and Public Works (EPW) Committee, helped introduce the Energy Choice Act of 2025, legislation led by U.S. Senator Jim Justice (R-W.Va.).

    “America needs more energy, and our state and local governments shouldn’t discriminate against baseload energy generation that increases security, affordability, and creates good paying across the country, simply because it doesn’t align with their political agendas. I’m proud to join my colleagues in introducing this legislation to prohibit restrictions on reliable energy that American families need,” Senator Capito said.

    “I am an energy guy from an energy-rich state. I know how important freedom of energy production is – which is why I’m proud to introduce Energy Choice Act of 2025. President Trump has stated the need to unleash American energy, and this bill helps facilitate just that. We have too great an energy crisis in this country, and we don’t have the luxury of picking the winners and losers when it comes to energy production. Americans ought to have the right to choose what is best for their energy needs,” Senator Justice said.

    BACKGROUND:

    • West Virginia has a storied history of energy production.
    • The Energy Choice Act would prohibit states and local governments from restricting or limiting the connection, reconnection, modification, installation, transportation, distribution, or expansion of a source of energy that is sold in interstate commerce to be delivered to an end-user of such services.
    • Representative Nick Langworthy (R-N.Y.-23) leads the House version of this bill, along with 37 cosponsors.

    Read more about the bill in Fox News.

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI United Kingdom: UK to become world leader in drug discovery as Technology Secretary heads for London Tech Week

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK to become world leader in drug discovery as Technology Secretary heads for London Tech Week

    New project to make the UK a leader in AI-drug discovery, as Imperial College also partners with the World Economic Forum on AI-Driven Innovation Centre.

    • New OpenBind consortium to make the UK a leader in AI-driven drug discovery – slashing the cost of drug discovery and development by as much as £100 billion. 
    • Imperial College London to partner with World Economic Forum to deliver new AI-Driven Innovation Centre – boosting AI adoption and innovation to grow the economy
    • Peter Kyle to set out plans at London Tech Week for technology to go further and faster in unlocking the growth driving the government’s Plan for Change

    People around the world are set to benefit from new breakthroughs in AI-driven drug discovery to tackle previously untreatable diseases and transforming patient outcomes using British AI and research expertise.  

    Announced today, the UK’s ‘OpenBind’ consortium will use breakthrough experimental technology to generate the world’s largest collection of data on how drugs interact with proteins, the building blocks of the body. This will be twenty times greater than anything collected over the last fifty years – cementing the UK’s position as a global hub for AI-driven drug discovery. 

    This will support the training of new AI models that can identify promising new drugs, giving researchers an unparalleled ability to open up new fronts in the fight against disease- slashing development costs by up to £100 billion and sparking the innovation and economic growth which underpins the government’s Plan for Change. 

    Based at Diamond Light Source – the UK’s national synchrotron facility at the Harwell Science Campus in Oxfordshire – the consortium will close critical data gaps, driving breakthroughs in healthcare which will unlock new avenues for drugs that can treat and beat diseases, as well as helping scientists harness the transformative potential of engineering biology to face down a range of other issues, such as designing new enzymes to tackle plastic waste. 

    The consortium, backed with up to £8 million of investment from DSIT’s newly established Sovereign AI Unit, will be led by some of the world’s leading scientific minds including Professor Charlotte Deane at the University of Oxford, Professor Frank von Delft at Diamond Light Source and the University of Oxford, and David Baker, Chemistry Nobel Prize winner and head of the Institute for Protein Design at Washington University. 

    The Secretary of State for Science, Innovation, and Technology, Peter Kyle said: 

    London Tech Week is where we lay down a marker – not just as a government with technology at the heart of our agenda, but as a country that will harness its opportunities for the global good.

    OpenBind is a prime example of how we’re doing exactly that. Through home-grown AI expertise, we will be the driving force that doesn’t just treat, but beats disease – benefitting every person in the world.

    This week, we’ll have plenty more to say on how we’re using technology to drive growth, improve public services, and transform communities all over the country – delivering a Plan for Change grounded in action, not words.

    This investment will also help to unlock unique strategic capabilities for UK AI and biosciences, securing the nation’s critical influence over a sector fundamental to growth, health, and wellbeing. 

    Investors from industry and philanthropy will be convened shortly to have the opportunity to co-invest and take the project to a point of maximum ambition. These discussion will include a roundtable at 10 Downing Street including Isomorphic Labs, Astex Pharmaceuticals, Apheris, Chai Discovery, Genentech, Genesis Therapeutics, Odyssey Therapeutix, Pfizer Inc, and Renaissance Philanthropy.

    Professor Gianluigi Botton, CEO, Diamond Light Source, said:

    At Diamond Light Source, a Joint Venture between the UK government through STFC and the Wellcome Trust, we are proud to be at the forefront of the UK’s ambition to lead the world in AI-driven drug discovery.

    OpenBind represents an exciting step forward in harnessing our unique capabilities to generate the high-quality data that AI needs to revolutionise healthcare, helping to cement the UK’s position as a global hub for bioscience innovation.

    Sir Demis Hassabis, CEO, Isomorphic Labs, said:

    High-quality biochemical data supports superior AI models, which in turn helps us design new drug candidates faster.

    We’re delighted to partner with the OpenBind Consortium and the UK government to cultivate this vital resource. This is a brilliant initiative for UK science, and we’re proud to support it from its inception.

    Artificial Intelligence has become one of the key drivers of the government’s Plan for Change, with its adoption across the economy sparking economic growth and creating jobs. Earlier this year the Prime Minister launched the AI Opportunities Action Plan – taking forward 50 recommendations which will mainline the technology into all sectors of the economy.   

    To accelerate AI’s rollout even further, Imperial College London has today announced it will partner with the World Economic Forum to deliver a Centre for AI Driven Innovation based in the UK. This dedicated centre will cement the UK’s global position as a leader in the technology, driving innovation by unlocking AI’s potential to transform economies across various sectors. The Centre will join the World Economic Forum’s Centre for the Fourth Industrial Revolution (C4IR) Network – a global network of 21 independent centres which bring together public and private sectors to maximise technological benefits while minimising risks. 

    The UK government will work with both organisations to co-design the Centre’s activities in alignment with the government’s ambitions to harness AI to deliver a new era of growth and opportunity. 

    Hugh Brady, President, Imperial College London said:  

    This is a pivotal moment for UK innovation where the power and creativity of our science and technology can drive economic growth. This new Centre for AI Driven Innovation will unlock AI’s potential to transform existing industries.

    Anchored in the World Economic Forum global network of Centres for the Fourth Industrial Revolution, the new Centre hosted by Imperial creates a powerful multi-stakeholder platform from research through to scalable real-world innovation and adoption.

    Børge Brende, President and CEO of World Economic Forum said: 

    We are excited to collaborate with Imperial College London and the Department for Science, Innovation and Technology to launch the Centre for AI Driven Innovation, the first UK-based centre in the World Economic Forum’s global Network of Centres for the Fourth Industrial Revolution.

    This milestone comes at a pivotal moment, as AI emerges as a powerful catalyst for prosperity and accelerated transformation across all sectors of the economy. The Centre will play a key role in helping the UK shape the global AI innovation agenda, providing a unique platform for collaboration with one of the world’s largest multistakeholder communities of AI experts.

    The announcements come as the Technology Secretary prepares to deliver his keynote address to London Tech Week later today, where his speech will set out the range of actions the government is taking to harness technology to boost growth, improve public services, and unlock new opportunities for communities across the UK.

    Further commentary welcoming today’s announcements:

    Professor Charlotte Deane of the University of Oxford said:

    OpenBind realises a major gear-shift for AI in drug discovery by investing in the data that powers it. 

    This funding will mean we can begin generating a catalogue that not only dwarfs in quantity everything messily accumulated over half a century, but transcends it in quality and is geared towards powering the AI algorithms.

    Professor Frank von Delft of Diamond Light Source and the University of Oxford said:

    OpenBind is unique double opportunity:  whereas to date we experimental scientists have generated data as a byproduct of answering our scientific questions, now we combine forces with AI scientists and produce the data their AIs actually need.  And to do so, we will align several very different types of experiments, harnessing recent dramatic advances, including those we’ve achieved at Diamond. 

    As this accelerates drug design, we will gain currently unthinkable ways to dissect how diseases work and what to do about them.

    Robin Roehm, CEO and co-founder of Apheris said:

    The utility of AI models in predicting protein-small molecule structure and affinity pairs hinges on the quality and scale of training data.

    The life sciences sector urgently needs more comprehensive data, and collaborative networks like the AI Structural Biology Consortium where multiple Pharmas jointly collaborate are an example of this. OpenBind has the potential to transform small molecule drug discovery by developing datasets that are orders of magnitude larger than what is currently available.

    Karmen Čondić-Jurkić, Executive Director and Co-Founder, Open Molecular Software Foundation (OMSF) said:

    OMSF is excited to participate in OpenBind and contribute to building open datasets and infrastructure that will power the next generation of ML/AI models for drug discovery. Expanding high-quality public datasets is essential for advancing molecular science, both for training and validating new computational approaches.

    We believe this collaboration is an opportunity to bring experimental and computational researchers closer together, accelerating innovation across the field.

    Mohammed AlQuraishi, Founder, OpenFold; Professor, Departments of Systems Biology and Computer Science, Columbia University, said:

    The task of predicting structures of molecules bound to proteins is challenged by a severe paucity of data, crucial for training data-hungry machine learning models such as OpenFold3.

    The OpenBind project is poised to transform this dynamic, first by providing significant amounts of new and diverse structural data to fuel machine learning, and second by working synergistically with OpenFold to focus data acquisition on molecules and proteins with the greatest potential for improving the accuracy of predictive models.

    David Rees PhD FMedSci, FRSC, Chief Scientific Officer, Astex Pharmaceuticals, Cambridge, UK.

    As a pioneer in fragment-based drug discovery, Astex is excited to be involved in this new initiative to build a unique database that will help the UK to remain at the forefront of developments in this field.

    Training AI models with experimentally determined protein-ligand crystal structure data can significantly accelerate the drug discovery process and deliver new medicines more efficiently.

    Dr Ed Griffen, Technical Director at MedChemica said:

    At MedChemica we apply chemistry machine learning at scale and speed to design and analyse large data sets to give exploitable knowledge.  

    One of the critical areas of weakness in drug discovery is relating how protein-drug structures are related to how strongly a possible drug binds to that protein structure. The goal of OpenBind is to gather and analyse enough of the right data so that machine learning can make useful predictions. With better predictions we can run drug hunting projects faster and cheaper, bringing new therapies to the clinic more quickly.

    OpenBind is a keystone in the bridge from basic science to new ways of treating the diseases and conditions that afflict patients world wide. OpenBind’s scale is globally strategic and leading beyond what is being done anywhere else. MedChemica is delighted and proud to be able to contribute to this endeavour.

    Joshua Meier, Co-founder and CEO, Chai Discovery, said:

    The UK’s OpenBind initiative provides the rich, open data frontier our AI models need to design better medicines faster, and we’re excited to contribute our open state-of-the-art structure prediction technology to this national effort.

    Notes to editors

    OpenBind will create the largest open dataset of experimentally validated drug–protein interactions in history. By addressing a long-standing gap in pharmaceutical R&D: the lack of high-quality, large-scale datasets linking small molecules to the proteins they bind. These datasets are essential for training high quality AI models for early-stage drug design.  

    OpenBind will deploy automated chemistry and high-throughput X-ray crystallography to eventually generate more than 500,000 protein – ligand complex structures and affinity measurements over 5 years. This would represent a 20-fold increase over all public data produced in the last half-century – filling a critical gap in the data ecosystem that has slowed the development and evaluation of modern generative models.  

    OpenBind provides a foundational dataset that will underpin progress across multiple areas of technology – including structure prediction, generative molecular design, docking, and active learning workflows. It is designed to work in synergy with other emerging approaches to help reduce trial-and-error experimentation, inform candidate selection, and support more systematic exploration of chemical space.  

    OpenBind’s senior consortium principal investigators are: 

    • Professor Frank von Delft (Diamond Light Source and University of Oxford) 
    • Professor Charlotte Deane (University of Oxford) 
    • Dr John Chodera (Memorial Sloan Kettering Cancer Centre) 
    • Dr Mark Murcko (MIT and Disruptive Biomedical LLC)
    • Professor Mohammed AlQuraishi (Columbia University)  
    • Professor David Baker (University of Washington) 
    • Dr Ed Griffen (MedChemica Limited) 
    • Professor Paul Brennan (University of Oxford) 
    • Professor Sir David Stuart (Diamond Light Source)
    • Dr Martin Walsh (Diamond Light Source)

    About Diamond Light Source

    Diamond Light Source provides industrial and academic user communities with access to state-of-the-art analytical tools to enable world-changing science. Shaped like a huge ring, it accelerates electrons to near light speeds, producing a light 10 billion times brighter than the sun, which is then directed off into 35 laboratories known as beamlines. In addition to these, Diamond offers access to several integrated laboratories including the world-class Electron Bio-imaging Centre (eBIC) and the Electron Physical Science Imaging Centre (ePSIC).     

    Diamond serves as an agent of change, addressing 21st century challenges such as disease, clean energy, food security and more. Since operations started, more than 16,000 researchers from both academia and industry have used Diamond to conduct experiments, with the support of approximately 800 world-class staff. More than 14,000 scientific articles have been published by our users and scientists.     

    Funded by the UK government through the Science and Technology Facilities Council (STFC), and by the Wellcome Trust, Diamond is one of the most advanced scientific facilities in the world, and its pioneering capabilities are helping to keep the UK at the forefront of scientific research.     

    Diamond was set-up as an independent not for profit company through a joint venture, between the UKRI’s Science and Technology Facilities Council and one of the world’s largest biomedical charities, the Wellcome Trust – each respectively owning 86% and 14% of the shareholding.     

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

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    Updates to this page

    Published 9 June 2025

    MIL OSI United Kingdom –

    June 10, 2025

  • MIL-OSI: ETC Announces Fiscal 2025 Full Year and Fourth Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    SOUTHAMPTON, Pa., June 09, 2025 (GLOBE NEWSWIRE) — Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the fourteen week period ended February 28, 2025 (the “2025 fiscal fourth quarter”) and the fifty-three week period ended February 28, 2025 (“fiscal 2025”).

    Robert L. Laurent, Jr., ETC’s Chief Executive Officer and President stated, “Our strong backlog and pipeline of opportunities once again translated into increases in net sales, gross profit margin, operating income and net income. These results reflect growth in each of our business units with sales increasing to $62.9 million, gross profit increasing to $18.5 million, and net income increasing to $13.1 million or $0.75 diluted earnings per share in fiscal 2025 as compared to net income of $1.8 million or $0.09 diluted earnings per share in fiscal 2024. We believe we remain well positioned for the future with a backlog of $87 million and strong pipeline of opportunities at February 28, 2025.”

    Fiscal 2025 Results of Operations

    Net Income

    Net income was $13.1 million, or $0.75 diluted earnings per share, in fiscal 2025, compared to net income of $1.8 million during fiscal 2024, equating to $0.09 per diluted share. The $11.2 million variance is primarily attributable to a $19.6 million increase in sales, a $6.1 million increase in gross profit, slightly offset by a $0.8 million increase in operating expenses. Fiscal 2025 is also being positively impacted by an income tax benefit of $5.6 million, primarily associated with the partial reversal of valuation allowance previously recorded against the deferred tax asset. The deferred tax asset valuation allowance on federal deferred tax assets and certain state deferred tax assets was reversed in fiscal 2025, as it is now more likely than not that the Company will be able to fully realize these deferred tax assets.

    Net Sales

    Net sales for fiscal 2025 was $62.9 million, an increase of $19.6 million, or 45.3%, compared to fiscal 2024 net sales of $43.3 million. The increase is a result of higher International sales of $13.4 million, of which $9.3 million are within Aircrew Training Solutions (“ATS”) and $3.5 million are within Commercial Industrial Systems (“CIS”) as well as higher Domestic sales of $6.2 million, $6.0 million of which are within CIS. Further, sales in fiscal 2025 increased the greatest within the ATS business unit and Sterilizer Systems business unit, accounting for $9.9 and $7.4 million, respectively, of the overall increase of $19.6 million.

    Gross Profit

    Gross profit for fiscal 2025 was $18.5 million compared to $12.5 million in fiscal 2024, an increase of $6.1 million, or 48.7%. The increase in gross profit was primarily due to higher net sales within the ATS and Sterilizers System business units. Gross profit margin as a percentage of net sales increased to 29.4% in fiscal 2025 compared to 28.8% in fiscal 2024.

    Operating Expenses

    Operating expenses, including sales and marketing, general and administrative, and research and development, for fiscal 2025 was $10.3 million compared to $9.5 million in fiscal 2024, an increase of $0.8 million, or 8.1%. An increase in selling and marketing expenses, primarily driven by higher sales and an increase in general and administrative expenses, due primarily to an increase in salary and related expenses, along with an increase in professional fees was offset slightly by a decrease in research and development expenses.

    Interest Expense, Net

    Interest expense, net, for fiscal 2025 was $1.2 million compared to $0.9 million in fiscal 2024, an increase of $0.3 million, or 31.6%, due primarily to higher borrowing attributable to the leaseback of the Southampton, Pennsylvania demonstration equipment in fiscal 2025.

    Other (Income) Expense, Net

    Other income, net, for fiscal 2025 was ($0.4) million, compared to other expense, net, of $0.3 million in fiscal 2024 a favorable variance of ($0.7) million, or (221.5%) attributable to a gain realized from the sale of the Southampton, Pennsylvania demonstration equipment in fiscal 2025.

    Income (Benefit) Taxes

    As of February 28, 2025, the Company reviewed the components of its deferred tax assets and determined, based upon all available information, that it is more likely than not that deferred tax assets relating to its federal deferred tax assets and certain state deferred tax assets will be realized. Accordingly, we reversed the previously recorded valuation allowance against these deferred tax assets. If in the future there is a change in our ability to realize these deferred tax assets, then our tax valuation allowance may increase in the period in which we determine that realization is no longer more likely than not. An income tax benefit of $5.6 million was recorded in fiscal 2025 compared to income tax benefit of $0.1 million recorded in fiscal 2024.

    Fiscal 2025 Fourth Quarter Results of Operations

    Net Income

    Net income was $7.6 million, or $0.45 diluted earnings per share, in the 2025 fiscal fourth quarter, compared to net income of $2.8 million during the 2024 fiscal fourth quarter, equating to $0.17 diluted earnings per share. The $4.8 million variance is a result of $2.7 million of increased sales, $0.6 million increase in other income attributable to the sale of the Company’s demonstration equipment offset slightly by an 8.9% decrease in gross profit margin percentage, primarily attributable to increased aeromedical center building sales and higher interest expense attributable to the demonstration equipment lease. The 2025 fiscal fourth quarter is also being positively impacted by a $5.5 million increase in income tax benefit attributable to the reversal of the deferred tax asset valuation allowance.

    Net Sales

    Net sales for the 2025 fiscal fourth quarter were $19.1 million, an increase of $2.7 million, or 16.4%, compared to net sales of $16.4 million for the 2024 fiscal fourth quarter. The increase reflects higher overall sales within the ATS and Sterilizer Systems business units.

    Gross Profit

    Gross profit was $4.7 million in the 2025 fiscal fourth quarter, a decrease of $0.8 million, or 14.5% compared to gross profit of $5.5 million for the 2024 fiscal fourth quarter. Gross profit margin as a percentage of net sales decreased to 24.6% in the 2025 fiscal fourth quarter compared to 33.5% in 2024 fiscal fourth quarter. The majority of the decrease was a direct result of the increase in aeromedical center building sales, which is lower margin then ETC’s core business as the work is being performed by a sub-contracted construction firm. Excluding the aeromedical center building sales, gross profit margin would have been approximately 29.7%. As the building construction of the aeromedical center accelerates over the next year, ETC expects gross profit margin to be lower in fiscal 2026 as compared to fiscal 2025.

    Operating Expenses

    Operating expenses, including sales and marketing, general and administrative, and research and development, for the 2025 fiscal fourth quarter were $2.7 million, an increase of $0.2 million, or 6.1%, compared to $2.5 million for the 2024 fiscal fourth quarter. The increase in operating expenses was due primarily to higher general and administrative expenses slightly offset by lower selling and marketing and research and development expenses in the 2025 fiscal fourth quarter compared to the 2024 fiscal fourth quarter.

    Interest Expense, Net

    Interest expense, net, for the 2025 fiscal fourth quarter was $0.6 million compared to $0.2 million in the 2024 fiscal fourth quarter, an increase of $0.4 million, or 146.6%, reflecting increased borrowing attributable to the leaseback of the demonstration equipment in 2025 fiscal fourth quarter.

    Other (Income) Expense, Net

    Other income, net, for 2025 fiscal fourth quarter was ($0.5) million, compared to other expense, net, of $0.1 million in 2024 fiscal fourth quarter, a favorable variance of ($0.6) million, or (721.0%) attributable to a gain realized from the sale of the Southampton, Pennsylvania demonstration equipment in the 2025 fiscal fourth quarter.

    Income (Benefit) Taxes

    An income tax benefit of $5.7 million was recorded in the fiscal 2025 fourth quarter compared to an income tax benefit of $0.2 million in the 2024 fiscal fourth quarter. The increase in the income tax provision in the 2025 fiscal fourth quarter was driven primarily by the reversal of the valuation allowance on federal deferred tax assets and certain state deferred tax assets. This reversal is attributable to the change in the Company’s operating profit and expected ability to realize these deferred tax assets.

    Liquidity and Capital Resources

    As of February 28, 2025, the Company’s availability under the PNC Revolving Line of Credit was $2.2 million. This reflected cash borrowings of $14.3 million and net outstanding standby letters of credit of approximately $3.5 million. As of June 9, 2025, the date of our most current Revolving Line of Credit statement, the Company’s availability under the PNC Revolving Line of Credit was approximately $1.2 million. The Company had working capital of $19.7 million as of February 28, 2025 compared to working capital of $8.7 million as of February 23, 2024. The increase in working capital was primarily the result of a significant increase in contract assets and reduction in contract liabilities partially offset by a decrease in prepaid assets and increase in accounts payable, trade and an increase in the current portion of lease obligations. With unused availability under the Company’s various current lines of credit, the further conversion of contract assets and inventory into cash, the collection of milestone payments associated with several International contracts, and expected deposits on fiscal 2026 bookings, the Company anticipates its sources of liquidity will be sufficient to fund its operating activities, anticipated capital expenditures, and debt repayment obligations throughout fiscal 2025.

    On February 3, 2025, the Company entered into a Financing and Security Agreement with Coeur Capital, Inc. that provided for a line of credit of up to $3.0 million. The company is able to draw on the line transferring and assigning acceptable accounts receivable to Coeur Capital. The Financing and Security Agreement remains in full force until terminated by either party upon advanced written notice. As of February 28, 2025, the Company’s availability under this Financing and Security Agreement was $3.0 million. As of June 9, 2025, the date of our report, the Company’s availability under this Financing and Security Agreement with Coeur Capital was $3.0 million.

    Cash flows from operating activities

    During fiscal 2025, cash flows used by operating activities were $3.9 million, an increase of $0.2 million compared to fiscal 2024 cash flows used by operating activities of $3.7 million. Cash flows in fiscal 2025 increased as a result of the increase in contract assets and decrease in contract liabilities partially offset by net income for the fiscal year.

    Cash flows from investing activities

    Cash flows from investing activities primarily relates to funds for capital expenditures in property, plant, and equipment and software development. The Company’s fiscal 2025 investing activities provided $3.6 million as compared to fiscal 2024 investing activities which used $0.3 million. The change in investing activities is attributable to $4.0 million from the sale leaseback of the demonstration equipment in Southampton, Pennsylvania.

    Cash flows from financing activities

    During fiscal 2025, the Company’s financing activities provided $1.7 million from borrowings under the Company’s credit facility to support the significant increase in manufacturing, compared to fiscal 2024 borrowings of $2.7 million.

    About ETC

    ETC was incorporated in 1969 in Pennsylvania. For over five decades, we have provided our customers with products, services, and support. Innovation, continuous technological improvement and enhancement, and product quality are core values that are critical to our success. We are a significant supplier and innovator in the following areas: (i) software driven products and services used to create and monitor the physiological effects of flight, including high performance jet tactical flight simulation, fixed and rotary wing upset prevention and recovery and spatial disorientation, and both suborbital and orbital commercial human spaceflight: altitude (hypobaric) chambers; hyperbaric chambers for multiple persons (multiplace chambers) collectively, Aircrew Training Systems (“ATS”);; (ii) Advanced Disaster Management Simulators (“ADMS”); (iii) steam and gas (ethylene oxide) sterilizer systems (“Sterilizer Systems” or “Sterilizers”); and (iv) Environmental Testing and Simulation Systems (“ETSS”).

    We operate in two primary business segments, Aerospace Solutions (“Aerospace”) and Commercial/Industrial Systems (“CIS”). Aerospace encompasses the design, manufacture, and sale of: (i) ATS products; and (ii) ADMS, as well as integrated logistics support (“ILS”) for customers who purchase these products or similar products manufactured by other parties. These products and services provide customers with an offering of comprehensive solutions for improved readiness and reduced operational costs. Sales of our Aerospace products are made principally to U.S. and foreign government agencies and to civil aviation organizations. CIS encompasses the design, manufacture, and sale of: (i) sterilizer systems; and (ii) ETSS; as well as parts and service support for customers who purchase these products or similar products manufactured by other parties. Sales of our CIS products are made principally to the healthcare, pharmaceutical, and automotive industries.

    ETC-PZL Aerospace Industries Sp. z o.o. (“ETC-PZL”), our 100%-owned subsidiary in Warsaw, Poland, is currently our only operating subsidiary. ETC-PZL manufactures certain simulators and provides software to support products manufactured domestically within our Aerospace segment.

    The majority of our net sales are generated from long-term contracts with U.S. and foreign government agencies (including foreign military sales (“FMS”) contracted through the U.S. Government) for the research, design, development, manufacture, integration, and sustainment of ATS products, including Chambers and the simulators manufactured and sold through ETC-PZL, collectively, ATS. The Company also enters into long-term contracts with domestic and international customers for the sale of sterilizer systems and ETSS. Net sales of ADMS are generally much shorter term in nature and vary between domestic and international customers. We generally provide our products and services under fixed-price contracts.

    ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC’s headquarters is located in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.

    Forward-looking Statements

    This news release contains forward-looking statements, which are based on management’s current expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries, the economy and other factors that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

                     
    Table A                
                     
    Environmental Tectonics Corporation
    Consolidated Comprehensive Statement of Operations and Comprehensive Income
                     
                     
    (in thousands, except per share information)   Fifty-three / Fifty-two weeks ended   Variance
        February 28, 2025 February 23, 2024   ($)   (%)
    Net sales   $ 62,943     $ 43,307     $ 19,636     45.3  
    Cost of goods sold     44,420       30,848       13,572     44.0  
    Gross Profit     18,523       12,459       6,064     48.7  
    Gross profit margin %     29.4 %     28.8 %     0.6 %   2.1 %
                     
    Operating expenses     10,260       9,494       766     8.1  
    Operating income     8,263       2,965       5,298     178.7  
    Operating margin %     13.1 %     6.8 %     6.3 %   92.6 %
                     
    Interest expense, net     1,183       899       284     31.6  
    Other (income) expense, net     (361 )     297       (658 )   -221.5  
    Income before income taxes     7,441       1,769       5,672     320.6  
    Pre tax margin %     11.8 %     4.1 %     7.7 %   187.8 %
                     
    Income tax provision (benefit)     (5,622 )     (51 )     (5,571 )   10923.5  
    Net income     13,063       1,820       11,243     617.7  
    Preferred Stock Dividends     (493 )     (484 )     (9 )   1.9  
    Income attributable to common and participating shareholders   $ 12,570     $ 1,336     $ 11,234     840.9  
                     
    Per share information:                
    Basic earnings per common and participating share:            
    Distributed earnings per share:                
    Common   $ –     $ –          
    Preferred   $ 0.08     $ 0.08     $ –     0.0  
    Undistributed earnings per share:                
    Common   $ 0.81     $ 0.09     $ 0.72     800.0  
    Preferred   $ 0.81     $ 0.09     $ 0.72     800.0  
    Diluted earnings per share   $ 0.75     $ 0.09     $ 0.66     733.3  
                     
    Total basic weighted average common and participating shares     15,572       15,569          
                     
    Total diluted weighted average shares     16,655       15,569          
    Table B                
                     
    Environmental Tectonics Corporation
    Consolidated Comprehensive Statement of Operations and Comprehensive Income
                     
        Fourteen / Thirteen weeks ended   Variance
    (in thousands, except per share information)   February 28, 2025   February 23, 2024   ($)   (%)
    Net sales   $ 19,098     $ 16,414     $ 2,684     16.4  
    Cost of goods sold     14,394       10,915       3,479     31.9  
    Gross Profit     4,704       5,500       (795 )   -14.5  
    Gross profit margin %     24.6 %     33.5 %     -8.9 %   -26.7 %
                     
    Operating expenses     2,665       2,513       153     6.1  
    Operating income     2,039       2,987       (948 )   -31.6  
    Operating margin %     10.7 %     18.2 %     -7.5 %   -40.8 %
                     
    Interest expense, net     613       249       365     146.6  
    Other (income) expense, net     (504 )     81       (584 )   -721.0  
    Income before income taxes     1,930       2,658       (728 )   -27.4  
    Pre-tax margin %     10.1 %     16.2 %     -6.2 %   (38.2 )
                     
    Income tax provision (benefit)     (5,682 )     (171 )     (5,511 )   3222.8  
    Net income     7,612       2,829       4,783     169.1  
    Preferred Stock dividends     (130 )     (121 )     (9 )   7.4  
    Income attributable to common and participating shareholders   $ 7,482     $ 2,708     $ 4,774     176.3  
                     
    Per share information:                
    Basic earnings per common and participating share:                
    Distributed earnings per share:                
    Common   $ –     $ –     $ –      
    Preferred   $ 0.02     $ 0.02     $ –     0.0  
    Undistributed earnings per share:                
    Common   $ 0.48     $ 0.17     $ 0.31     182.4  
    Preferred   $ 0.48     $ 0.17     $ 0.31     182.4  
    Diluted earnings per share   $ 0.45     $ 0.17     $ 0.28     164.7  
                     
                     
    Total basic weighted average common and participating shares     15,582       15,569          
                     
    Total diluted weighted average shares     16,725       15,569          

    The MIL Network –

    June 10, 2025

  • MIL-OSI USA: In Response To The Recent Antisemitic Attacks Across The Nation, Gillibrand, Schumer, Nadler, Goldman Stand With Jewish Community Leaders In Calling For Additional Funds To Protect The Jewish Community

    US Senate News:

    Source: United States Senator for New York Kirsten Gillibrand

    Today, in response to a recent surge in violent antisemitic terror attacks, U.S.Senators Kirsten Gillibrand and Charles E. Schumer and Representatives Jerrold Nadler and Dan Goldman stood with Jewish leaders and other faith leaders requesting that the Nonprofit Security Grant Program (NSGP) be robustly funded to keep communities safe. The funding allocated by this program supports nonprofit organizations most at risk of attack through the acquisition and installation of physical target hardening measures, related preparedness and prevention planning, training, and exercises, and contracted security personnel so that religious and community-based organizations have the critical resources and tools they need to protect lives and property.

    This comes in response to the recent wave of antisemitic attacks across the country, including the arson attack at Pennsylvania Governor Josh Shapiro’s home, the murder of two Israeli Embassy staffers in Washington, D.C., and the tragedy in Colorado last Sunday in which 15 people were injured when Molotov cocktails were thrown at them at a peaceful demonstration calling for the release of the hostages in Gaza. In 2024, there were 9,354 antisemitic incidents across the United States. This was an 893% increase over the previous 10 years and represents the highest number of incidents on record since the Anti-Defamation League began tracking these statistics 46 years ago.

    “Since October 7, 2023, we have seen a disturbing rise in hate crimes across the country and at home in New York targeted toward members of the Jewish faith,” said Senator Gillibrand. “America was founded on the principle of the free exercise of religion. That means that every American has the right to live without fear of being attacked for their faith, and I am fighting to make sure that continues by robustly funding the Nonprofit Security Grant Program. My message to the Jewish community is that I stand united with you against antisemitism, now and always.” 

    “The persistent cascade of intolerance and violence as the state of hate in America rises to a boiling point demands a much stronger federal response, because we are in a crisis,” said U.S. Senator Charles Schumer. “In many ways, the vulnerability and increased danger in houses of worship and not-for-profits has never been higher. That is why I am pushing for $500 million for the Nonprofit Security Grant Program—and increased funding for technical assistance to help organizations apply for grants—to counter, contain and ultimately crush the fear—and the threats—plaguing places of worship, religious schools, and other nonprofit organizations. We will fight hard to achieve this funding goal and do all we can to ensure places of worship are safe.”

    “Just 8 days ago, we witnessed the latest in a string of horrific attacks against Jews. This attack fell against the backdrop of a surge of Antisemitism nation-wide, which has especially peaked since Hamas’ horrific terrorist attack on October 7th, 2023— the bloodiest day in Jewish history since the Holocaust. This moment demands a swift response. That is why I signed a bipartisan letter last week calling for a $500 million funding level for the Non-Profit Security Grant Program and I continue to echo that call. Such an increase is a necessary step to help ensure Jews’ physical safety. I hope both sides of the aisle and all branches of government come together to get this done,” said Rep. Jerry Nadler (NY-12). “In this time of American Jews experiencing an unprecedented rise in antisemitism, I also am sad to have to say that the Trump Administration is acting as a catalyst, not a deterrent. If President Trump were actually serious about combatting antisemitism, he’d start by firing the known antisemites in his own administration. In this unprecedented time for American Jews, we must ensure antisemites find no safe haven, no matter their political affiliations or positions of power.”

    “We don’t need to look further than the murders of two young Israeli Embassy workers outside the Capital Jewish Museum or the attacks on Jews during a peaceful protest in Boulder to understand that antisemitic hate is not just rising — it’s exploding into deadly violence,” said Karen Paikin Barall, Vice President, Government Relations, Jewish Federations of North America. “These are not isolated incidents; they are part of a deeply troubling trend that threatens the safety, dignity, and freedom of the Jewish community. By providing adequate funding, we can help protect places of worship, education, and community gatherings from the growing threats they face. Silence and inaction are not options — lives are on the line.”

    “In the face of sharply escalating antisemitic violence nationwide, including the horrific recent antisemitic attacks, the NSGP is a lifeline that enables synagogues, Jewish community centers, and other vulnerable institutions to take meaningful steps to protect their congregants and staff,” said Eric S. Goldstein, CEO, UJA-Federation of New York. “UJA is urgently calling for a significant increase in funding for the NSGP and we are deeply grateful for the steadfast leadership of Senator Gillibrand and Leader Schumer, and members of the New York House delegation, who continue to champion the safety and security of Jewish New Yorkers.”

    “Our Jewish communities are reeling from a wave of horrific, antisemitic acts of terror—part of an unprecedented surge in antisemitism we’ve witnessed since October 7th across the country and here in New York. In the face of persistent threats targeting Jewish individuals and institutions, it is imperative that the federal government provide robust funding for the Nonprofit Security Grant Program, which is already the law but needs resources to be fully operationalized,” said Mark Treyger, CEO of JCRC-NY. “Increasing Nonprofit Security Grant funding is a vital step toward ensuring that all vulnerable communities can gather and live in safety. JCRC-NY will continue working to uproot antisemitic hate before it takes hold and to build a future grounded in mutual respect and shared humanity. While we continue this important work, we also urge our leaders to call out the inflammatory rhetoric that has predictably led to this surge in antisemitic acts of terror. We are deeply grateful to Leader Schumer, Senator Gillibrand, and members of the Congressional delegation for their leadership on this urgent matter”

    “In the aftermath of the horrific attacks against Jewish Americans in Washington, D.C. and Boulder, there’s no more compelling argument for robust federal funding for Jewish institutional security. It’s time. Last year ADL recorded over 1,700 antisemitic incidents targeting Jewish institutions,” said Jonathan Greenblatt, CEO, ADL. “In this climate of escalating threats, every additional dollar for the Nonprofit Security Grant Program is a lifeline — right now, the demand far outpaces the available resources. I’m proud to be standing with these Congressional leaders pushing for an increase in funding to ensure that synagogues, schools, and community centers can take basic steps to protect themselves.”

    “Years ago, a police car in front of a synagogue was a rarity, and today it is a reality,” said Rabbi Joseph Potasnik, Executive Vice President, New York Board of Rabbis. “Years ago, standing up for the Jewish people was most venerable; today it makes you most vulnerable. Thus, we are most grateful to Senators Schumer and Gillibrand for seeking additional funding for security purposes. Their steadfast support is most reassuring, especially during this difficult period.”

    Every year, Congress must specifically allocate funding for the NSGP, which helps nonprofits deemed by the Department of Homeland Security to be at risk of attack plan for and ready themselves against potential attacks. In addition to hardening facilities, this program has improved efforts to keep at-risk nonprofit organizations safe by promoting emergency preparedness coordination and collaboration activities between public and private community representatives, as well as with state and local government agencies.

    For years, Senator Gillibrand has successfully pushed to include funding for the NSGP in the budget. In Fiscal Year 2024, Gillibrand and Schumer successfully secured $454.5 million in funding for the NSGP. The Jewish community remains one of the top targets of faith-based hate crimes in the U.S., and that danger has only increased since October 7, 2023. Senators Gillibrand and Schumer will continue to prioritize the safety of these and other faith communities throughout New York State. 

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI USA: VIDEO: Rep. Pressley Condemns Trump’s Authoritarian Assault on Harvard, Nonprofits

    Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

    Trump Admin. Weaponizing Tax Laws to Silence Dissent, Attack Nonprofits Providing Essential Services to Vulnerable People

    “This is about Trump and Republicans punishing people who disagree with them. It is about attacking nonprofits of all sizes that serve the vulnerable and marginalized and stand in the gap for our communities. It’s about trying to intimidate every charity and nonprofit in this country and spark a fear that if you speak up – if you do something the Republicans don’t like – you could be next.”

    Video (YouTube)

    WASHINGTON – Today, in a House Oversight Subcommittee hearing, Congresswoman Ayanna Pressley (MA-07) condemned Donald Trump’s targeted, authoritarian assault on nonprofit organizations it disagrees with. Congresswoman Pressley discussed the Trump Administration’s efforts to revoke the tax-exempt status of Harvard University as part of Republicans’ broader campaign to punish dissent and attack organizations that serve vulnerable communities.

    A full transcript of the Congresswoman’s remarks is below and the video is available here.

    Transcript: Pressley Condemns Trump’s Authoritarian Assault on Harvard, Nonprofits

    House Oversight DOGE Subcommittee

    June 4, 2025

    REP. PRESSLEY: Thank you to our witnesses for being here today. 

    What we are witnessing from Occupant Trump, his Administration, and Republicans writ-large is not governance – it is a targeted, dangerous assault on the independence of our nonprofit organizations. 

    We’ve seen these attacks take many forms, perhaps most visibly in my own district – the Massachusetts 7th – as the administration continues its unlawful campaign against Harvard University. Trump has threatened to revoke Harvard’s tax-exempt status, freeze billions in federal funding for scientific research to save lives, might I add, and publicly vilify students and faculty – all part and parcel of his attacks on education. 

    But let me make it plain: this isn’t just about Harvard and it’s definitely not about government efficiency – the name of this subcommittee. 

    This is about Trump and Republicans punishing people who disagree with them. 

    It is about attacking nonprofits of all sizes that serve the vulnerable and marginalized and stand in the gap for our communities. 

    It’s about trying to intimidate every charity and nonprofit in this country and spark a fear that if you speak up – if you do something the Republicans don’t like – you could be next.

    A hospital that provides abortion care. A local food pantry that feeds immigrants. Or an advocacy group that fights for civil rights.

    Donald Trump is weaponizing our tax laws to attack nonprofits at the same time he is pushing for tax cuts for Elon Musk and billionaires.

    Ms. Yentel, can the President or Executive Branch legally revoke a nonprofit’s tax-exempt status simply because it disagrees with that organization’s lawful speech or mission?

    DIANE YENTEL: They can’t. The statute is very clear that that is illegal.

    REP. PRESSLEY: Thank you. Republicans think the answer is yes, but that would mean every nonprofit in America is just one tweet away from being targeted by the federal government.

    I am proud that in the Massachusetts 7th, community-based organizations are speaking up and fighting back against Republican attacks. And I know they are doing it at risk of serious threat.

    Ms. Yentel, can you make plain what are the consequences to charities and nonprofits losing tax-exempt status?

    MS. YENTEL: Well, tax exempt status is given to nonprofit organizations that do essential work to meet needs in their local communities, in exchange for significant transparency and accountability. And if nonprofit organizations lose their tax exempt status, it could create significant challenges for them to be able to do their work related to how and where they get their funding, and it could cause them to have to shut down their work altogether.

    REP. PRESSLEY: Their work which is to the betterment of us all, which is to the collective, our shared constituents. 

    MS. YENTEL: Yes.

    REP. PRESSLEY: Very good. Let’s put this in perspective:

    Trump is firing government workers that administer programs like Head Start and Social Security while also attacking non-profits that provide resources and supports to vulnerable populations.

    Trump and his Republican cult do not care about helping people who are struggling. Instead, they want to make them suffer more.  

    Now, before I yield back, let me ask the Republican witnesses: if you all think Trump is right for revoking tax-exempt status for nonprofits for their political views, raise your hand then if you think the Heritage Foundation – who wrote Project 2025 – should also lose their tax-exempt status? 

    Show of hands, by the logic that is being applied. 

    MR. WALTER: I’m not aware of any nonprofit that’s had its status revoked. 

    REP. PRESSLEY: Again, the question that I’m posing is, would you please raise your hand if you think the Heritage Foundation who wrote Project 2025 should also lose their tax exempt status? 

    Show of hands.

    MR. WALTER: It’s a perfectly a reasonable speech by a nonprofit. 

    REP. PRESSLEY: So none of you, so none of you, none of you.

    The shame and the sham of it all.

    Before I yield back, Ms. Yentel, I know that you have been harangued intensely throughout today’s proceedings. Is there anything that you would like to set the record straight on or respond to in my remaining time? 

    MS. YENTEL: Thank you, Congresswoman. I would like to use the remaining time to remind us all and every member of this committee of the vital, essential work that nonprofit organizations do in each of your communities, for your constituents, and the work that we do to support them in that work. Nonprofit organizations are local. They are transparent and accountable. They are non-partisan, by law and in practice, and they do essential work to meet the needs of all of your communities and all Americans. Thank you.

    REP. PRESSLEY: Thank you. I yield back.

    ###

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI USA: Rep. Lauren Underwood Delivers Remarks at Agriculture Subcommittee Markup to Highlight How Republicans are Increasing Costs for Farmers and Rural Communities

    Source: United States House of Representatives – Congresswoman Lauren Underwood (IL-14)

    During today’s House Appropriations subcommittee markup of the 2026 Agriculture, Rural Development,  Food and Drug Administration, and Related Agencies funding bill, Rep. Lauren Underwood (IL-14) delivered the following remarks: 

    ““Mr. Chairman, I strongly oppose the Fiscal Year 2026 Agriculture, Rural Development, and FDA Appropriations bill we are considering today. 

    While the Trump Administration and my Republican colleagues on this Committee like to talk about reducing chronic disease and protecting children’s health, their actions speak louder.   

    With the dangerous funding cuts in this bill, they are turning their backs on working families, rural communities, and public health.  

    At a time when tobacco use remains the leading cause of preventable death in America and poses a grave threat to American youth – with over 2 million middle and high school students reporting tobacco use in 2024 – we should be prioritizing the data-driven public health investments that are proven to work, not undermining FDA’s power to regulate Big Tobacco. 

    This bill is yet another example of the Trump Administration’s focus destroying the tools that help FDA hold Big Tobacco accountable to the American people.  

    This bill is so extreme that it even blocks FDA from finalizing a commonsense rule to ensure that tobacco products are not contaminated with foreign substances like glass, fingernails, rocks, direct, and mold.   

    If my Republican colleagues cannot even take a stand against cigarettes with fingernails in them, then their position is clear — they are not willing to regulate the President’s friends and donors in the tobacco industry and they are not serious about protecting public health.  

    So instead of devoting FDA resources to regulating tobacco, this bill proposes to waste agency resources—and taxpayer funds—on an unnecessary review of mifepristone. 

    We already have decades of evidence showing that mifepristone is a safe and effective medication that safeguards women’s health and lives.  

    Medical experts describe mifepristone as among the safest medications being used today.   

    Yet FDA Commissioner Makary has recently “committed to conducting a review of mifepristone,” and this bill includes report language supporting this wasteful review that is based on fraudulent junk science.  

    So, let’s be honest about what this bill does. It’s not going to make women safer. It’s a waste of taxpayer resources and another attack from this Administration on our bodily autonomy.  

    Throughout this appropriations process, we have heard so much about using federal dollars wisely, controlling costs, and supporting everyday Americans. 

    Yet another way that this bill fails to deliver on those goals is by flat-funding the WIC program despite rising costs for the mothers and children who rely on it. 

    WIC is one of the most cost-effective public health programs we have. If my Republican colleagues actually cared about government efficiency, they would invest in programs like WIC that we know improve health outcomes for families.  

    Instead, this bill reverses the progress we have made on child nutrition and puts eligible moms and kids on waiting lists. That’s not efficient—it’s just irresponsible. 

    This bill slashes the cash-value benefits for fruits and vegetables, cutting access to healthy food for children during their most critical growth years while hurting American farmers. 

    Under this bill, a toddler’s fruit and veggie benefit is lower than it was last year. That’s not fiscal discipline—it’s nutritional sabotage. You don’t balance a budget on the backs of babies.  

    Let’s be clear: this isn’t saving money long-term. When we deny healthy food to pregnant moms and young kids, we increase the risk of preterm birth, developmental delays, and chronic illness. That’s more hospital visits, higher Medicaid costs, and worse outcomes for families.  

    WIC needs to be fully funded—not frozen—and benefits need to reflect the science. That’s what the families we represent deserve.  

    So I urge my colleagues to reject this misguided bill, and to work together on a smarter funding plan that genuinely supports American families and protects public health”

    MIL OSI USA News –

    June 10, 2025

  • MIL-Evening Report: Some economists have called for a radical ‘global wealth tax’ on billionaires. How would that work?

    Source: The Conversation (Au and NZ) – By Venkat Narayanan, Senior Lecturer – Accounting and Tax, RMIT University

    Rudy Balasko/Shutterstock

    Earlier this year, I attended a housing conference in Sydney. The event’s opening address centred on the way Australia seems to be becoming like 18th-century England – a country where inheritance largely determines one’s opportunities in life.

    There has been a lot of media coverage of economic inequities in Australian society. Our tax system has been partly blamed for this problem. The case for long-term, visionary tax reform has never been stronger. And one area of tax reform could be a wealth tax.

    First, let’s be clear about one thing. Unlike the superannuation tax reforms currently being debated for those with more than A$3 million in superannuation, the wealth tax we’re talking about would apply to a very different cohort: billionaires.

    A recent article in the Financial Times re-examined a proposal to impose such a tax on the world’s highest-net-worth individuals. It also pointed out these efforts would need to be globally coordinated.

    Such taxes could collect significant sums of money for governments. It’s previously been estimated a billionaire tax could raise US$250 billion (more than A$380 billion) globally if just 2% of the net worth of the world’s billionaires was taxed each year.

    The case for a wealth tax

    Inequality is on the rise and the argument for a wealth tax can’t be ignored – not least here at home. According to the Australia Institute, the wealth of Australia’s richest 200 people has soared as a percentage of our national gross domestic product (GDP) – from 8.4% in 2004 to 23.7% in 2024.

    If that sounds dramatic, the picture is far worse in the United States. So, what would a wealth tax look like in Australia (noting that in reality a globally coordinated effort would be needed)?

    The starting point for this is understanding of why high-net-worth individuals seemingly pay very low taxes.

    High net worth, low tax rate

    Income taxes only take into account any amounts that are received in the hands of the taxpayer – whether that is a company, a person or a trust.

    Most high-net-worth individuals do not receive much income directly but “store” their wealth in companies and other corporate structures.

    In Australia, the maximum applicable tax rate for companies is 30%. Note that the highest tax rate in Australia for individuals is 45% plus the 2% medicare levy, effectively 47%.

    Assets such as real estate may also be held by companies or trusts, and the increase in value of these assets is not taxed until they are sold (through capital gains tax).

    Even then, those gains may not be paid out directly to the high-net-worth individual who owns these entities.

    Unrealised gains

    So, how do we tax wealth that is sitting in various businesses (company structures) or other entities, but isn’t taxed at present because the “income” or “gains” from these are not taxable in the hands of the wealthy individuals who own them?

    This goes into the murky area of taxation of unrealised gains. Here, we need to tread very carefully. But we also need to recognise that we already do this, albeit rather subtly, and most of us are not billionaires.

    In your rates notice from your local council, for example, the increase in value of your residence or investment property is used to calculate your rates.

    The real difficulty, to carry on with this example, is that your residence or investment property is typically held in your name and so the tax can be directly levied on you.

    A luxury residence in Miami Beach, Florida, owned by Jeff Bezos, founder of Amazon. The US is home to the most billionaires of any country in the world.
    Felix Mizioznikov/Shutterstock

    Making tax unavoidable

    As we’ve already explained, the bulk of the assets or net worth of wealthy individuals is not directly attributable to them. Does this mean we should give up altogether?

    Not quite. UNSW professor Chris Evans has pointed out that while we may not be able to effectively tax all the net worth of the wealthy, there are some things we can tax and they can’t avoid it.

    An obvious example is real estate. You can pack your bags and bank accounts and move to a low-tax country, but you can’t move your mansion overlooking Sydney Harbour.

    Real estate, both residential and commercial, provides one clear way in which we could implement a partial wealth tax. This method (which also has fewer valuation issues than value stored in a company in the form of retained profits) also counters the argument that the wealthy will simply move to other jurisdictions that won’t tax them.

    There is plenty of academic research looking at various wealth tax initiatives in other countries. We should learn from these, including the experience in Switzerland and Sweden.

    In Sweden, for instance, research found the behavioural effects of wealth taxation were less pronounced than those of income taxation, but the system had so many loopholes that evasion was an option for some people.

    Change faces headwinds

    In a very uncertain world that features ongoing wars and an unpredictable US president, any change that seeks to address issues of inequity is going to be met with resistance by those who hold power.

    Some billionaires in the US, however, have expressed their support for being taxed more in a letter signed by heirs to the Disney and Rockefeller fortunes. That offers some hope, and suggests the discussion about wealth taxes should not be relegated to the “too hard” basket.

    Some steps towards taxing the uber-rich would be better than the status quo.

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

    – ref. Some economists have called for a radical ‘global wealth tax’ on billionaires. How would that work? – https://theconversation.com/some-economists-have-called-for-a-radical-global-wealth-tax-on-billionaires-how-would-that-work-257632

    MIL OSI Analysis – EveningReport.nz –

    June 10, 2025

  • MIL-Evening Report: Fake news and real cannibalism: a cautionary tale from the Dutch Golden Age

    Source: The Conversation (Au and NZ) – By Garritt C. Van Dyk, Senior Lecturer in History, University of Waikato

    The Corpses of the De Witt Brothers, attributed to Jan de Baen, c. 1672-1675. Rijksmuseum

    The Dutch Golden Age, beginning in 1588, is known for the art of Rembrandt, the invention of the microscope, and the spice trade of the Dutch East India Company. It ended a little under a century later in a frenzy of body parts and mob justice.

    In 1672, enraged by a fake news campaign, rioters killed the recently ousted head of state Johan de Witt and his brother Cornelis. The mob hung them upside down, removed their organs, ate parts of the corpses, and sold fingers and tongues as souvenirs.

    Even in a period characterised by torture and assassination, this grisly act stands out as extreme. But it also stands as a warning from history about what can happen when disinformation is allowed to run rampant.

    The attack on Johan and Cornelis de Witt was fuelled by a relentless flood of malicious propaganda and forgeries claiming the brothers were corrupt, immoral elitists who had conspired with enemies of the Dutch Republic.

    The anonymous authors of the smear campaigns blamed Johan for war with England and “all the bloodshed, killing and injuring, the crippled and mutilated people, including widows and orphans” that allegedly kept him in power.

    According to one pamphlet, the violence was legitimate because the ends justified the means: “Beating to death is not a sin in case it is practised against a tyrant.” The sentiment echoes a quote frequently attributed to Napoleon, recently shared by US President Donald Trump on social media: “He who saves his country does not violate any law.”

    ‘Fight like hell’

    These days, of course, we’ve become accustomed to the dangers fake news (and deepfakes) pose in the promotion of political violence, hate speech, extremism and extrajudicial killings.

    In March, for example, historical footage of war crimes in Syria was manipulated by generative AI to appear as current events. Combined with disinformation in chat rooms and on social media, it incited panic and violence.

    The effects were magnified in a country with no reliable independent media, where informal news is often the only source of information.

    But even in a superpower with an established media culture, similar things happen.
    Before the January 6 insurrection at the US Capitol in 2021, Trump called on thousands of supporters at a “Save America” rally to “fight like hell” or they were “not going to have a country anymore”.

    This was shortly before Congress verified the presidential election result, which Trump alleged was invalid because of voter fraud. Addressing the same crowd, Trump advisor Rudolph Giuliani called for “trial by combat”.

    What happened might not have been as extreme as the events in the Netherlands 350 years earlier, but a violent mob fired up on disinformation still shook the foundations of US democracy.

    Historical echoes: supporters of Donald Trump march through Washington DC to the Capitol Building on January 6, 2021.
    Getty Images

    The ‘disaster year’

    The deeper forces at work in the US were and still are complex – just as they were in the 17th-century Dutch Republic. What brought it down was a volatile mix of power struggles, geopolitical rivalries and oligarchy.

    William of Orange had been excluded from the office of stadtholder, the hereditary head of state, by a secret treaty with England under Oliver Cromwell to end the First Anglo-Dutch War.

    When the English monarchy was restored, however, the treaty became invalid and the Orangists attempted to reinstate William. Johan De Witt represented the States Party, made up of wealthy oligarchs, whereas William was seen as a man of the people.

    The republic had built an impressive navy and merchant fleet but neglected its army. A land invasion by France and allies was supported by the English navy. To prevent the invasion from advancing, land was flooded by opening gates and canals.

    The combination of floods and an occupying army threw the economy into chaos. The Orangists wouldn’t cooperate with the States Party, and the republic was on the brink of collapse. The Dutch referred to 1672 as the Rampjaar, the “disaster year”.

    Historical rhymes

    Satirists, pamphleteers and activists seized on the crises as an opportunity to ramp up their campaign against the de Witt brothers. Political opposition turned into personal attacks, false accusations and calls for violence.

    Johan was assaulted and stabbed in an attempted assassination in June 1672, resigning from his role as head of state two months later. Cornelis was then arrested for treason. When Johan went to visit him in prison, the guards and soldiers disappeared, and a conveniently positioned mob dragged the brothers into the street.

    The rest, as they say, is history. William III was strongly suspected of orchestrating the brothers’ gruesome murder, but this was never confirmed.

    Is there is a moral to the story? Perhaps it is simply that, in a time of crisis, a campaign of disinformation can transform political opposition and rebellion into assassination – and worse.

    Pamphlets – the social media of their day – manipulated public perception and amplified popular anxiety into murderous rage. A golden age of prosperity under a republic headed by oligarchs ended with ritualised political violence and the return of a monarch who promised to keep the people safe.

    They say history doesn’t repeat, but it does rhyme. As ever, the need to separate fact from fiction remains an urgent task.

    Garritt C. Van Dyk has been a recipient of Getty Research Institute funding.

    – ref. Fake news and real cannibalism: a cautionary tale from the Dutch Golden Age – https://theconversation.com/fake-news-and-real-cannibalism-a-cautionary-tale-from-the-dutch-golden-age-257104

    MIL OSI Analysis – EveningReport.nz –

    June 10, 2025

  • MIL-Evening Report: The Racial Discrimination Act at 50: the bumpy, years-long journey to Australia’s first human rights laws

    Source: The Conversation (Au and NZ) – By Azadeh Dastyari, Director, Research and Policy, Whitlam Institute, Western Sydney University

    On June 11, Australia marks 50 years since the Racial Discrimination Act became law. This important legislation helps make sure people are treated equally no matter their race, skin colour, background, or where they come from.

    But the act didn’t happen overnight. It took nearly ten years for Australia to follow through on the promises it made to the world to fight racism when it signed the International Convention on the Elimination of All Forms of Racial Discrimination in 1966.

    When Australia first signed that agreement, it still had laws and attitudes shaped by the White Australia Policy.

    Even after Australia started moving away from the White Australia Policy, federal leaders held off on making anti-racism laws. They weren’t sure it was allowed under the Constitution, worried about the cost, and didn’t want to upset the states. Many also feared that Australians wouldn’t support it.

    It took the courage of Gough Whitlam, Australia’s 21st prime minister, to pass Australia’s first anti-discrimination law. Between 1973 and 1975, Whitlam and his government made four attempts to pass laws against racial discrimination. The act was the result of their fourth try – this time, it worked.

    An uphill battle

    The first time the Racial Discrimination Bill was introduced was in 1973, it was alongside a Human Rights Bill. Together, they were part of a bigger plan to give people in Australia more rights and fair treatment.

    People had mixed feelings about the idea of a law to protect individual rights. Most of the concern was about the Human Rights Bill, but some also doubted whether a Racial Discrimination Act was needed.

    There was debate about whether it would really work or just be a symbolic step, and whether or not it would take away from people’s freedoms.

    In the end, the 1973 bill lapsed and did not become law.

    The Whitlam government reintroduced the bill twice more in 1974, once in April and then again in October.

    The April version added protections for immigrants and focused more on conciliation and education, but it wasn’t debated before an election.

    The bill returned in October with minor updates, mainly to strengthen education efforts and clarify that it used civil, not criminal, enforcement.

    Still, it was withdrawn in early 1975 because of ongoing political instability.

    The 1975 Racial Discrimination Bill was the Whitlam government’s final, and successful, push to make laws tackling racism.

    Familiar debates

    Labor MPs backed the 1975 version of the bill, highlighting its importance for Indigenous people and other marginalised groups.

    But the Liberal–Country Party Coalition, then in opposition, pushed back hard.

    While the opposition claimed to support equality, they questioned the legal basis of the bill, feared it gave too much power to the race relations commissioner and warned it might threaten free speech.

    Some opposition voices, especially in the Senate, went further, downplaying racism altogether. Senator Ian Wood claimed Australia was “singularly free of racial discrimination”.

    Senator Glen Sheil argued immigration was the issue:

    Australia over recent years has adopted an immigration policy that has allowed the immigration into this country of blacks, whites, reds, yellows and browns […] because of these problems, once again created by governments, we are now faced with this Racial Discrimination Bill. In my opinion if this bill is implemented it will create more discrimination, not less.

    The opposition successfully weakened the bill by removing several key parts, including:

    • criminal penalties for inciting racial discrimination

    • the ability of the commissioner to start legal proceedings in court or ask a court to make someone give evidence

    • and criminal penalties for publishing, distributing or expressing racial hostility.

    Despite these setbacks, the Racial Discrimination Act passed.

    Change takes time

    Even with all the compromises, the passing of the act was a major moment in Australian history.

    As Whitlam acknowledged:

    it is of course extraordinarily difficult to define racial discrimination and outlaw it by legislative means. Social attitudes and mental habits do not readily lend themselves to codification and statutory prohibition.

    The act has not erased racial discrimination, nor is it perfect.

    It continues to spark debates and needs to be further strengthened to meet the changing needs of our society.

    However, the laws have been used in real cases to protect people’s rights, shown the federal government does have the power under the Constitution to make laws about human rights, and has sent a strong message that everyone deserves to be safe and free from discrimination, regardless of their race, colour or national or ethnic origin.

    The story of the Racial Discrimination Act is a reminder that real change takes time, resolve and tenacity.

    While the laws finally passed, the Human Rights Bill introduced alongside it in 1973 did not.

    More than 50 years later, Australia still does not have a national Human Rights Act. As more people call for stronger human rights protections in our laws, the Racial Discrimination Act stands as both a reminder of what progress can look like and a challenge to imagine what bold leadership could achieve today.

    A Human Rights Act is now needed more than ever to protect those most at risk. It will take the same political will, moral clarity, and bravery that brought the Racial Discrimination Act to life.

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

    – ref. The Racial Discrimination Act at 50: the bumpy, years-long journey to Australia’s first human rights laws – https://theconversation.com/the-racial-discrimination-act-at-50-the-bumpy-years-long-journey-to-australias-first-human-rights-laws-257245

    MIL OSI Analysis – EveningReport.nz –

    June 10, 2025

  • MIL-OSI: Orange County Bancorp, Inc. Announces Closing of Overallotment Option and Issuance of 258,064 Shares of Common Stock

    Source: GlobeNewswire (MIL-OSI)

    MIDDLETOWN, N.Y., June 09, 2025 (GLOBE NEWSWIRE) — Orange County Bancorp, Inc. (the “Company” – Nasdaq: OBT), parent company of Orange Bank & Trust Company, (the “Bank”) and Hudson Valley Investment Advisors, Inc. (“HVIA”), today announced that the underwriters for its recently completed public offering have exercised their overallotment option and completed the sale of an additional 258,064 shares of common stock at the public offering price of $23.25 per share. The expected proceeds to the Company in connection with the exercise of the option and the issuance of the additional shares, after deducting the underwriting discount and commissions but before deducting other expenses payable by the Company, are approximately $5.7 million.

    Piper Sandler & Co. and Stephens Inc. served as joint book-running managers.

    The offering was made only by means of an effective shelf registration statement on Form S-3 (File No. 333-280793), including a preliminary prospectus supplement and final prospectus supplement, copies of which may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Additionally, copies may be obtained from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by phone at 1-800-747-3924, or by email at prospectus@psc.com, or Stephens Inc., 111 Center Street, Little Rock, AR 72201, or by phone at 1-800-643-9691.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  

    About Orange County Bancorp, Inc.

    Orange County Bancorp, Inc. is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 125 years ago. It has grown through innovation and an unwavering commitment to its community and business clientele to approximately $2.6 billion in total assets. Hudson Valley Investment Advisors, Inc. is a Registered Investment Advisor in Goshen, NY. It was founded in 1996 and acquired by the Company in 2012.

    Forward-Looking Statements

    The information disclosed in this press release includes various forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “anticipates,” “projects,” “intends,” “estimates,” “expects,” “believes,” “plans,” “may,” “will,” “should,” “could,” and other similar expressions are intended to identify such forward-looking statements. The Company cautions that these forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from such forward-looking statements. Accordingly, you should not place undue reliance on forward-looking statements. In addition to the specific risk factors disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, the following factors, among others, could cause actual results to differ materially and adversely from such forward-looking statements: those related to the real estate and economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, inflation, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, tariffs, increased levels of loan delinquencies, problem assets and foreclosures, credit risk management, asset-liability management, cybersecurity risks, geopolitical conflicts, public health issues, the financial and securities markets and the availability of and costs associated with sources of liquidity. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    For further information:
    Michael Lesler
    EVP & Chief Financial Officer
    mlesler@orangebanktrust.com
    Phone: (845) 341-5111

    The MIL Network –

    June 10, 2025

  • MIL-OSI USA: Padilla, Schiff, Schumer Demand Answers from Trump Administration on Arrest and Detention of SEIU Union Labor Leader David Huerta

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Schiff, Schumer Demand Answers from Trump Administration on Arrest and Detention of SEIU Union Labor Leader David Huerta

    WASHINGTON, D.C. — Today, U.S. Senators Alex Padilla (D-Calif.), Ranking Member of the Senate Judiciary Immigration Subcommittee, Adam Schiff (D-Calif.), and Senate Democratic Leader Chuck Schumer (D-N.Y.) are demanding answers from top Trump Administration officials regarding the arrest and detention of David Huerta, President of Service Employees International Union (SEIU) California and SEIU-United Service Workers West. Mr. Huerta was injured, arrested, and detained by federal officials in Downtown Los Angeles while exercising his lawful right to observe the conduct of immigration enforcement personnel on Friday, June 6, 2025. He currently remains detained in federal custody. 

    “It is deeply troubling that a U.S. citizen, union leader, and upstanding member of the Los Angeles community continues to be detained by the federal government for exercising his rights to observe immigration enforcement,” wrote the Senators.  

    “As U.S. Senators, we are privileged and proud to represent Americans like Mr. Huerta, who are pillars of their community and stand up for the fundamental rights of all Californians. We have a constitutional duty to conduct oversight of the Department of Homeland Security and the Department of Justice and its components to ensure that the rights of Californians are upheld. As such, we demand a complete and comprehensive response to the following requests regarding this incident by Friday, June 13, 2025,” concluded the Senators. 

    The Senators are voicing their serious concerns to Secretary of Homeland Security Kristi Noem, Attorney General Pam Bondi, and Immigration and Customs Enforcement (ICE) Acting Director Todd M. Lyons.

    Yesterday, Senator Padilla joined MSNBC’s “The Weekend: Primetime” to condemn the Trump Administration’s ICE raids across Los Angeles and President Trump’s ensuing unprecedented deployment of nearly 2,000 members of California’s National Guard to the region. Padilla also joined Los Angeles outlets KTLA and KNX last night to discuss the fear and chaos the Trump Administration is stoking in Los Angeles and across California. On Friday, Padilla issued a statement condemning the Los Angeles ICE raids.

    Full text of the letter is available here and below:   

    Dear Secretary Noem, Acting Director Lyons, and Attorney General Bondi:

    We write to express our grave concerns regarding the arrest and detention of David Huerta, the President of Service Employees International Union (SEIU) California and SEIU United Service Workers West.

    On Friday, June 6, 2025, Immigration and Customs Enforcement (ICE), Homeland Security Investigations (HSI), the Drug Enforcement Agency (DEA), and several other federal agencies conducted numerous immigration enforcement actions throughout Southern California. During a workplace enforcement action, Mr. Huerta, a well-known and deeply respected community leader, was exercising his lawful right to observe the conduct of immigration enforcement personnel. In the course of doing so, Mr. Huerta suffered an injury and law enforcement personnel apprehended and subsequently arrested him. It is deeply troubling that a U.S. citizen, union leader, and upstanding member of the Los Angeles community continues to be detained by the federal government for exercising his rights to observe immigration enforcement.

    As U.S. Senators, we are privileged and proud to represent Americans like Mr. Huerta, who are pillars of their community and stand up for the fundamental rights of all Californians. We have a constitutional duty to conduct oversight of the Department of Homeland Security and the Department of Justice and its components to ensure that the rights of Californians are upheld. As such, we demand a complete and comprehensive response to the following requests regarding this incident by Friday, June 13, 2025:

    1. We request that the Department of Homeland Security and the Department of Justice undertake a review to determine which federal agencies and personnel were involved in the actions that resulted in the injuries sustained by Mr. Huerta and what disciplinary actions may be necessary for relevant federal personnel.

    2. We request that the Department of Justice state the legal authority under which Mr. Huerta is currently being detained.

    Thank you for your prompt attention to this urgent matter.

    Sincerely,

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI USA: Chinese National Pleads Guilty to Acting at the Direction of North Korea to Export Firearms, Ammo, and Technology to North Korea

    Source: US State of California

    An illegal alien from China pleaded guilty today to federal criminal charges for illegally exporting firearms, ammunition and other military items to North Korea by concealing them inside shipping containers that departed from the Port of Long Beach, California, and for committing this crime at the direction of North Korean government officials, who wired him approximately $2 million for his efforts.

    Shenghua Wen, 42, of Ontario, California, pleaded guilty to one count of conspiracy to violate the International Emergency Economic Powers Act (IEEPA) and one count of acting as an illegal agent of a foreign government. Wen has been in federal custody since his arrest in December 2024.

    According to his plea agreement, Wen is a citizen of the People’s Republic of China who entered the United States in 2012 on a student visa and remained in the U.S. illegally after his student visa expired in December 2013.

    Prior to entering the United States, Wen met with officials from North Korea’s government at a North Korean embassy in China. These government officials directed Wen to procure goods on behalf of North Korea.

    In 2022, two North Korean government officials contacted Wen through an online messaging platform and instructed him to buy and smuggle firearms and other goods – including sensitive technology – from the United States to North Korea via China.

    In 2023, at the direction of North Korean government officials, Wen shipped at least three containers of firearms out of the Port of Long Beach to China en route to their ultimate destination in North Korea. Wen took steps to conceal that he was illegally shipping firearms to North Korea by, among other things, filing false export information regarding the contents of the containers.

    In May 2023, Wen purchased a firearms business in Houston, paid for with money sent through intermediaries by one of Wen’s North Korean contacts. Wen purchased many of the firearms he sent to North Korea in Texas and drove the firearms from Texas to California, where he arranged for them to be shipped.

    In December 2023, one of Wen’s weapons shipments – which falsely reported to U.S. officials that it contained a refrigerator – left the Port of Long Beach and arrived in Hong Kong in January 2024. This weapons shipment was later transported from Hong Kong to Nampo, North Korea.

    In September 2024, Wen – once again acting at the direction of North Korean officials – bought approximately 60,000 rounds of 9mm ammunition that he intended to ship to North Korea.

    In furtherance of the conspiracy and at the direction of North Korean officials, Wen also obtained sensitive technology that he intended to send to North Korea. This technology included a chemical threat identification device and a handheld broadband receiver that detects known, unknown, illegal, disruptive or interfering transmissions.

    Wen also acquired or offered to acquire a civilian airplane engine and a thermal imaging system that could be mounted on a drone, helicopter, or other aircraft, and could be used for reconnaissance and target identification.

    During the scheme, North Korean officials wired approximately $2 million to Wen to procure firearms and other goods for their government.

    Wen admitted that at all relevant times he knew that it was illegal to ship firearms, ammunition, and sensitive technology to North Korea. He also admitted to never having the required licenses to export ammunition, firearms, and the above-described devices to North Korea. He further admitted to acting at the direction of North Korean government officials and that he had not provided notification to the Attorney General of the United States that he was acting in the United States at the direction and control of North Korea as required by law.

    Wen faces a maximum penalty of 20 years in prison on the count of violating the IEEPA and a maximum penalty of 10 years in prison on the count of acting as an illegal agent of a foreign government. Sentencing is scheduled for Aug. 18. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Assistant Attorney General for National Security John Eisenberg, U.S. Attorney Bilal A. Essayli for the Central District of California, and Assistant Director Roman Rozhavsky of the FBI Counterintelligence Division made the announcement.

    The FBI, Homeland Security Investigations, Defense Criminal Investigative Service (DCIS), the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Department of Commerce Bureau of Industry and Security (BIS) are investigating the case.

    Assistant U.S. Attorney Sarah E. Gerdes for the Central District of California and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case.

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI Security: ICE Continues to Arrest Vicious Illegal Alien Criminals as Rioters Continue to Disrupt Law Enforcement

    Source: US Department of Homeland Security

    California sanctuary politicians and rioters are defending heinous illegal alien criminals including child pedophiles and other violent criminal illegal aliens at the expense of Americans’ safety

    WASHINGTON – Today, the Department of Homeland Security (DHS) released more information about some of the worst of the worst criminal illegal aliens arrested during the ongoing Immigration and Customs Enforcement (ICE) operation in Los Angeles. These arrests occurred on June 8 despite violent riots and assaults on ICE law enforcement. 

    “These heinous criminals, including child abusers and pedophiles, are some of the illegal aliens arrested yesterday in Los Angeles. Why do Governor Newsom and Los Angeles Mayor Karen Bass care more about violent criminal illegal aliens than they do about protecting their own citizens?” said Assistant Secretary Tricia McLaughlin. “These rioters in Los Angeles are fighting to keep rapists, murderers, and other violent criminals loose on Los Angeles streets. Instead of rioting, they should be thanking ICE officers who every single day wake up and make our communities safer.”

    Below is a list of some of the violent criminal illegal aliens arrested in ICE’s Los Angeles Operation on Sunday:

    Eswin Uriel Castro

    ICE arrested Eswin Uriel Castro, a previously deported illegal alien. Castro has criminal convictions for child molestation and being armed with a dangerous weapon. He has also been arrested for robbery and domestic violence. 

    Anastacio Enrique Solis-Salinas

    ICE arrested Anastacio Enrique Solis-Salinas, a convicted criminal from Nicaragua. His criminal history includes convictions for domestic violence and hit and run. Additionally, he’s been arrested for willful cruelty to a child.

    Rafael Gamez-Sanchez

    ICE arrested Rafael Gamez-Sanchez, an illegal alien, with a criminal conviction for vehicular manslaughter. 

    Miguel Angel Palafox-Montes

    ICE arrested Miguel Angel Palafox-Montes, an illegal alien, with criminal convictions for grand theft, narcotics violations, and identity theft. He has also been arrested for battery and burglary. Palafox-Montes has previously been voluntarily returned to Mexico twice. 

    Dzhakhar Aslambekov

    ICE arrested Dzhakhar Aslambekov, an illegal alien from Russia. Aslambekov was recently detained for fraud related to Electronic Benefit Transfer (EBT) cards used to access government assistance programs. 

    ###
     

    MIL Security OSI –

    June 10, 2025

  • MIL-OSI Security: Harrison County Man Admits to Methamphetamine Charge

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

    CLARKSBURG, WEST VIRGINIA – James Leonard Bailey, III, age 41, of Stonewood, West Virginia, has admitted to conspiring to possess with the intent to distribute five grams or more of methamphetamine.  

    According to court documents, Bailey was found with 32 grams of methamphetamine and a firearm in Harrison County.

    Bailey is facing at least five and up to 40 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Assistant U.S. Attorney Christie Utt is prosecuting the case on behalf of the government.

    The Bureau of Alcohol, Tobacco, Firearms and Explosives and the Stonewood Police Department investigated.

    U.S. Magistrate Judge Michael John Aloi presided.

    MIL Security OSI –

    June 10, 2025

  • MIL-OSI Security: Founder of Orange County Based Non-Profit Charged in 15-Count Indictment Alleging He Bribed County Supervisor in $12 Million Scheme

    Source: US FBI

    SANTA ANA, California – The founder of a now-shuttered non-profit organization has been indicted on federal charges alleging he bribed then-Orange County Supervisor Andrew Hoang Do to obtain approximately $12 million in COVID-19 pandemic-related funds, pocketed the bulk of that money, then laundered it to avoid detection by law enforcement, the Justice Department announced today.

    Peter Anh Pham, 65, of Garden Grove, is charged with one count of conspiracy to commit wire fraud, one count of conspiracy to commit honest services wire fraud, six counts of wire fraud, six counts of concealment money laundering, and one count of bribery.

    Also charged in the indictment is Thanh Huong Nguyen, 61, of Santa Ana, who is charged with one count of conspiracy to commit wire fraud, one count of wire fraud, and one count of concealment money laundering.

    Pham is considered to be a fugitive from justice. Nguyen’s initial appearance and arraignment are expected to occur on Monday in U.S. District Court in Santa Ana.

    “These two defendants are charged with conspiring with a corrupt politician to pad their pockets while the nation suffered under the weight of COVID-19,” said United States Attorney Bill Essayli. “My office and our law enforcement partners will continue our efforts to prosecute individuals who cashed in on government aid intended to help those impacted by the largest public health emergency in a century.”

    “This conspiracy was a house of cards built on lies, betrayal, and insatiable greed,” said Orange County District Attorney Todd Spitzer. “Today’s indictments are another critical step in ensuring accountability – and consequences – for those who conspired to use the County of Orange’s COVID-19 funds as their personal ATMs – and to return those stolen funds to their rightful owners – the community for which these funds were originally intended.” 

    According to the indictment that was returned on Wednesday and unsealed today, Pham was a friend and associate of Do, 62, of Santa Ana, who served on the Orange County Board of Supervisors from 2015 until his resignation in October 2024. In that role, Do was one of five supervisors on the Board, which is responsible for the county’s $9 billion annual budget.

    Do pleaded guilty in October 2024 to one count of conspiracy to commit bribery concerning programs receiving federal funds and is scheduled to be sentenced on June 9, when he will face a sentence of up to five years in federal prison. 

    From June 2020 to October 2024, Do used his official position as a county supervisor to vote for millions of dollars in county funds to be allocated in his district, subject to disbursement at his sole discretion. Do then steered county contracts and grants to Pham and Nguyen, the indictment alleges. 

    For example, in June 2020, Do voted to approve an agenda item that, in part, allocated $5 million in federal COVID-19 pandemic-relief funding to a county nutrition program. As part of this agenda item, Do authorized himself a budget of $1 million to develop that nutrition program in his district, which he could distribute without further approval from the rest of the Board. Eight days after Do voted to approve the agenda item, Pham founded the Huntington Beach-based non-profit organization Viet America Society (VAS).

    Pham, through VAS, and Nguyen, through a Garden Grove-based group called Hand-to-Hand Relief Organization Inc. (H2H), entered into contracts and beneficiary agreements with the county. In many of these contracts, VAS and H2H falsely represented that they would reimburse the county for any funds not spent for the contract’s intended purpose. In each of the beneficiary agreements, VAS and H2H falsely certified that all funds would be used solely for the grant’s intended purpose.

    In exchange for Pham’s bribes in the form of payments to his two daughters, Do used his official position as a county supervisor to advocate for VAS and H2H so county employees would approve contracts and beneficiary agreements between the county and these organizations. Do and his staff – including his chief of staff – edited the terms of those contracts and agreements to make them more favorable to Pham and Nguyen. Through the influence of Do and his staff, the county wired funds to Pham and Nguyen. 

    After receiving county funds, Pham and Nguyen transferred most of the money to other entities they controlled. They then spent large portions of the funds to pay personal expenses such as rent and bills, to pay off debts owed by their other businesses, and to make personal investments such as purchasing commercial and residential real estate. Pham and Nguyen also used county funds to bribe Do through payments to his daughters.

    Pham also used county money to pay the eventual wife of Do’s chief of staff, under the guise that she was providing consulting services to VAS. Do’s chief of staff then used his position in Orange County’s government to help VAS and H2H obtain county contracts, edited the contracts’ terms to make them more favorable to VAS and H2H, and helped those organizations fulfill reporting requirements and get paid.

    When required to submit invoices to the county to account for how the money was being spent, Pham and Nguyen submitted false documents, claiming to have used all the funds – all solely for legitimate purposes and according to the contracts’ terms.

    To disguise the funds’ source, Pham and an associate caused checks from county funds to be written to a Westminster-based company called D Air Conditioning Co. LLC. This company then issued checks from its corporate bank account to Pham, Pham’s associate, and one of Do’s daughters.

    In total, Pham and Nguyen unlawfully acquired approximately $12 million in county funds through this conspiracy.

    An indictment contains allegations that a defendant has committed a crime.  Every defendant is presumed innocent until and unless proved guilty beyond a reasonable doubt.

    If convicted of the charges, Pham and Nguyen would face a statutory maximum sentence of 20 years in federal prison for the conspiracy count, each wire fraud count, and each money laundering count. Pham also would face up to 10 years in federal prison for the bribery count. 

    The FBI, the Orange County District Attorney’s Office Bureau of Investigation, and IRS Criminal Investigation are investigating this matter.      

    Assistant United States Attorneys Nandor F.R. Kiss and Rosalind Wang of the Orange County Office, Assistant United States Attorney Tara Vavere of the Asset Forfeiture and Recovery Section, and Senior Deputy District Attorney Avery T. Harrison and Deputy District Attorney Anthony J. Schlehner of Orange County District Attorney’s Office are prosecuting this case.

    MIL Security OSI –

    June 10, 2025

  • MIL-OSI: Kangamoon Launches Telegram-Based Play-to-Earn Game “KANG RUSH” With $5,000 Prize Pool

    Source: GlobeNewswire (MIL-OSI)

    ROAD TOWN, British Virgin Islands, June 09, 2025 (GLOBE NEWSWIRE) — Kangamoon, a Web3 gaming platform, has officially launched its highly anticipated Play-to-Earn (P2E) fighter game, “KANG RUSH,” on Telegram. The launch introduces a $5,000 reward pool in $KANG tokens for top players over the first 30 days, marking a major milestone in the rollout of the Kangaverse ecosystem.

    Ripple’s Resurgence: Why Is XRP Going Up?

    In recent weeks, Ripple’s XRP has been gaining renewed attention. XRP’s price is now hovering around $2.29 USD, reflecting a modest recovery amid overall market fluctuations. Many in the community are asking, “Why is XRP going up?” – and a few factors seem to be converging.

    For one, Ripple’s recent SEC settlement has helped ease some of the legal uncertainties that previously weighed on the token. Positive regulatory news has boosted investor confidence, and with institutional interest stirring thanks in part to institutional momentum, including recent XRP ETF approvals and increased mentions of Ripple in financial policy discussions – XRP’s price live updates have shown steady improvements. Trading volume has also picked up across major exchanges, underscoring the renewed market optimism and higher liquidity.

    Meanwhile, another token making headlines is Kangamoon (KANG) — a Play-to-Earn (P2E) fighter game token that just launched its flagship game. The price of KANG has jumped 80.10% in the past 7 days, now trading at $0.0014 with over $130,000 in 24-hour trading volume.

    XRP Ripple News: Institutional and Political Developments

    Recent XRP ripple news points to several catalyst events:

    • ETF Momentum: ProShares recently received approval to launch XRP-tracking ETFs. Such developments are expanding institutional access to XRP, which many believe could help sustain its recovery.
    • Stablecoin Progress: Ripple’s RLUSD stablecoin has grown in circulation, further integrating XRP into the digital payments ecosystem.
    • Political Headlines: Adding to the buzz, former U.S. political figures have mentioned XRP in discussions about a national crypto strategy, sparking wider speculation about its future role in government financial systems.
    • Elon Musk Rumors: Unverified reports on social media suggest Elon Musk may consider XRP for future integration into X Payments platform, contributing to the “xrp price live” commentary that circulates on social media.

    All of these factors have helped refresh investor sentiment, painting a picture of renewed growth for XRP even as the market continues to evolve.

    Kangamoon (KANG) Announces New Game Launch

    While XRP recovers, Kangamoon (KANG) is making noise of its own in the GameFi space. The team is set to launch a Telegram-based Play-to-Earn (P2E) fighter game on June 9, 2025.

    This game features:

    • Point-based battles that convert into $KANG rewards
    • Character inventories, upgrades, and boosters
    • Real-time leaderboards and a competitive structure

    The launch event, titled “KANG RUSH,” offers $5,000 in $KANG to the Top players over the first 30 days. The game is Web3-native, with token and wallet integration built-in. This marks the beginning of the Kangaverse—a fusion of meme culture, token rewards, and fast-paced gameplay.

    The price of KANG has started to show early signs of activity, with trading volume picking up in anticipation of the game launch. This blend of innovative game mechanics and token-based rewards has put Kangamoon in the spotlight as a potential breakout in the P2E space.

    As of today, CoinGecko lists KANG at $0.0014, with growing interest driven by the game launch hype and increased trading volume.

    Final Analysis

    The latest XRP news and price updates indicate that Ripple could be on a path to recovery, driven by regulatory wins and increased institutional interest. While many still wonder whether XRP could eventually serve as a robust medium of exchange, its current performance suggests a cautious yet positive outlook.

    At the same time, the Kangamoon game launch introduces a fresh, GameFi narrative that’s shaking up the crypto market. The combination of strong gameplay features, low barriers to entry (thanks to its Telegram platform), and innovative Web3 elements is drawing both casual players and seasoned investors. With trading volumes and KANG price activity increasing, the Kangaverse might just be the next area where early movers reap significant rewards.

    In a market defined by rapid innovation and shifting investor sentiment, keeping an eye on both XRP’s steady recovery and Kangamoon’s bold new venture is worthwhile. Whether you’re watching XRP’s recovery or tracking the Kangamoon game launch, staying updated with the latest developments remains the key to navigating this evolving landscape.

    For more information

    Contact Details:

    Kangamoon
    Alex Roberts
    contact@kangamoon.game

    Disclaimer: This press release is provided by the “Kangamoon”. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/66779c01-3a1c-492c-a4a0-2982ebb1dae1

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3bd8fe8a-fe2c-4173-ad5e-e609bebcbaa5

    The MIL Network –

    June 10, 2025

  • MIL-Evening Report: As livestock numbers grow, wild animal populations plummet. Giving all creatures a better future will take a major rethink

    Source: The Conversation (Au and NZ) – By Clive Phillips, Adjunct Professor in Animal Welfare, Curtin University

    Toa55/Shutterstock

    As a teenager in the 1970s, I worked on a typical dairy farm in England. Fifty cows grazed on lush pastures for most of their long lives, each producing about 12 litres of milk daily. They were loved and cared for by two herdsmen.

    About 50 years later, I visited a dairy farm in China. There, 30,000 cows lived indoors. Most of these selectively bred animals wore out after two or three years of producing 30–40 litres of milk every day, after which they were unceremoniously killed. The workers rarely had contact with the cows. Instead, they sat in offices, programming machines which managed them.

    This speaks to a huge and very recent shift in how we treat animals. Over the last half century, the human population has soared – and so too our demand for meat, milk and many other animal products. As a result livestock populations have ballooned while living conditions for animals permanently kept inside have drastically worsened.

    Even as farmed animals have multiplied, populations of wild animals have crashed. The two trends are deeply connected. Humans convert wildlife habitat into pastures and farms, expanding living space for farm animals at the expense of many other animals.

    This cannot continue. Humans must reckon with how we treat the myriad other species on the planet, whether we rely on them or not. As I argue in my new open access book, the growing scarcity of animal species should make us grasp our responsibility towards the welfare of all animal species on the planet, not just those in farms.

    Efforts to enshrine rights for animals is not enough. The focus has to be on our responsibilities to them, ensuring they lead good lives if in our care – or are left well alone if they are not.

    Should we care?

    In the last 50 years, two-thirds of all wild animal populations have been lost.

    The main cause is habitat loss, as native forest is felled to grow grass for cattle or corn and soya for livestock.

    By weight, the world’s farm animals and humans now dwarf the remaining wild animals. Farm animals weigh 630 million tonnes and humans 390 million tonnes, while wild land mammals now weigh just 20 million tonnes and marine mammals 40 million tonnes.

    Wildlife numbers have fallen off a cliff across many kingdoms of life. Three quarters of flying insects are gone from monitored areas of Western Europe. One in eight bird species is threatened with extinction worldwide.

    Insect populations are plunging, endangering the many animal species who rely on them.
    David Pineda Svenske/Shutterstock

    On animal welfare, philosophers have long argued one of two positions. The first is known as “utilitarianism”. This approach argues for minimising the bad things in the world and maximising the good things, regardless of who benefits from them, humans or other animals. This theory-heavy approach does little to restore our relationship with wild animals because of the difficulties in deciding what is good and bad for animals.

    The second has more to recommend it. This is the view that animals have the right to be looked after well. This approach has also been used to give rights to rivers, nature and even the atmosphere.

    But this doesn’t recognise the fact that only humans can attribute such rights to animals, who themselves do not have any concept of “rights”. It also doesn’t tackle the issue that most humans would not accord the same rights to a blue whale and an insect.

    A better approach might be to recognise our responsibilities to animals, rather than attribute rights to them.

    This would acknowledge the increasing rarity of animal species on Earth and the fact that – as far as we know – they’re unique in the universe. So far, no reliable signs have been found indicating life evolved on any other planets.

    Earth formed just over 4.5 billion years ago. Some evidence suggests simple animal life began just 400 million years later.

    The evolution of complex multicellular life on earth probably only happened once when a single celled organism – one of the ancient archaea, perhaps – engulfed a bacterium without digesting it. Instead, it found something better: putting it to work as an internal energy factory as the first mitochondrion. After that came life’s great flowering.

    But now we’re currently losing between 0.01–0.1% of all species each year. If we use an average species loss rate of 0.05% and assuming human pressures remain similar, life on Earth could have only 2,000 years left.

    Do we have responsibility to care for something just because it’s rare? Not always. But life is beautiful. We marvel when we are able to connect with wildlife. Other social animals also appear to derive pleasure from such relationships.

    If we destroy wild animal life, we could undermine the natural systems humans depend on. Pollinators are essential for orchards, forests protect topsoil and produce clean drinking water and predators prevent herbivore populations from soaring out of control and destroying crops. As wilder areas shrink, the chance of another animal virus spillover into humans increases.

    The habitat available for many wild animals has shrunk rapidly in recent decades.
    MohdFadhli_83/Shutterstock

    From small scale to industrial

    For almost all of human history, livestock herds were small enough that people could build relationships with the animals they depended on.

    But in only a couple of human generations, we’ve turned farm animal production into a factory process with billions of animals.

    For centuries, farm animals were walked to market. That, too, has changed. In 2005, I was undertaking research on a livestock ship alongside 80,000 sheep being transported from Australia to the Middle East. Hundreds of sheep die from the stress of these journeys, while many survivors arrive exhausted and terrified.

    These changes have made it possible for humans all around the globe to eat meat or dairy products at every meal. But it has come at a real cost to livestock and wild animals.

    Correcting this will not be easy. We have to learn to eat fewer animals or preferably none at all, restore habitat for wildlife and curb our consumption of the world’s natural resources.

    It’s not too late to restore animal habitat. Rewilding efforts are drawing back long-missing wild animals. There are hopeful signs for farm animal welfare too. The live export of Australian sheep will end in 2028. Battery cage production of eggs is dying out.

    These are big issues. But to paraphrase a quote reputedly by Confucius:

    The man who asks big questions is a fool for a minute. The man who does not ask, is a fool for life.

    Clive Phillips has received funding from several not-for-profit groups, including Voiceless and AnimalKind, to help make this book open access. He has previously had funding from several government and livestock industry organisations, as well as the World Organisation for Animal Health and Open Philanthropy. He was, until recently, a director of Humane Society International and chair of the Queensland and Western Australia government animal welfare boards. He is editor of the animal welfare book series of Springer Nature and another book series, Letters in Animal Welfare and Ethics for CABI, as well as editor-in-chief of the journals Animals, and Animal Behaviour and Welfare Cases.

    – ref. As livestock numbers grow, wild animal populations plummet. Giving all creatures a better future will take a major rethink – https://theconversation.com/as-livestock-numbers-grow-wild-animal-populations-plummet-giving-all-creatures-a-better-future-will-take-a-major-rethink-256891

    MIL OSI Analysis – EveningReport.nz –

    June 10, 2025

  • MIL-OSI USA: Welch Joins 39 Colleagues in Fighting Trump Administration’s Illegal Termination of the Jobs Corp Program

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) recently joined Senator Bernie Sanders (I-Vt.) and 38 of his colleagues in urging the Trump Administration to immediately reverse its decision to illegally and abruptly terminate Job Corps center operations which have left 25,000 students and thousands of staff across 99 Job Corps centers, including in Vergennes, Vermont, in the lurch. 
    Since 1964, Job Corps has helped millions of low-income or at-risk young people develop the skills and resilience needed to succeed in work and life. As the largest free residential education and job training program for young adults ages 16-24, Job Corps programs help students complete their high school education, learn high-value technical skills, and connect to employment through intensive education, training, and support services in a residential setting while providing stable housing, medical and mental health care, and other supportive services to ensure their success. 
    “We urge you to immediately reverse this decision to prevent a lapse in education and services for Job Corps students. We further urge that the Department restart enrollments, expeditiously restart background checks, and make any contract extensions or modifications necessary to ensure no interruptions or delays for students or program operations,” wrote the Senators. “Congress passed the Full-Year Continuing Appropriations and Extensions Act of 2025, which includes $1,760,155,000 for Job Corps and ensures that Job Corps Centers are funded for the new program year that begins on July 1, 2025. We write to remind you of your obligation to faithfully implement the law.” 
    Job Corps centers operate in rural regions nationwide and contribute to their local communities and economies. Many centers have partnered with employers, local workforce development boards, government agencies, and community-based organizations to develop the future workforce and meet the needs of local employers. 
    The Senators continued: “At a time when more than 72% of jobs will require training beyond a high school diploma, Job Corps provides students with the opportunity to become wildland firefighters to keep our communities safe, nurses to help care for our families, electricians needed to build and maintain clean energy systems, and machinists, pipefitters, and welders to manufacture the next generation of submarines.” 
    “Abruptly canceling contracts for the nation’s Job Corps centers will leave students and communities in the lurch and undermine opportunities for young people to get education and training to succeed in valuable trades,” wrote the Senators. “Rather than gutting this valuable program, we urge you to work with Congress to strengthen accountability and program quality for the betterment of young workers, employers needing skilled labor, and communities nationwide, such as reforms included in the bipartisan, bicameral Workforce Innovation and Opportunity Act (WIOA) reauthorization bill from last Congress.” 
    The Senators requested answers to the following questions: 
    Please provide a list of onboard strength (enrollment) at each center before January 20, 2025 and before the operations pause on May 28, 2025. 
    With Job Corps operations on “pause”, how does the department plan to fulfill its obligations to implement the Full-Year Continuing Appropriations and Extensions Act, 2025, which includes $1,760,155,000 for Job Corps serving students? 
    Please provide information on the number of students experiencing homelessness prior to enrollment at a Job Corps center based on enrollment at each center on May 28, 2025. 
    Please provide a list of every contract that has been terminated or modified since January 20, 2025, including the total amount of funds to each operator, the amount of funds that each operator has spent up to the date of the contract’s termination or modification, and the amount of remaining unspent funds for each contract. 
    What authority is the Department using to “pause” operations? Please provide a citation in law or regulation. 
    The concept of a “pause” does not exist in Job Corps authorizing statute and appears to be an attempt to illegally shut down Job Corps operations without following requirements in law. Section 159 of the Workforce Innovation and Opportunity Act (WIOA) includes clear requirements and processes for the closure of Job Corps Centers that were not followed in this “pause”. How does the Department define a “pause” and how is it different than a “termination”? 
    On April 25, 2025, the Department’s Employment and Training Administration (ETA) released the first-ever Job Corps Transparency Report, which is used throughout the DOL press release to pause operations at centers.
    Centers have returned funding to DOL when enrollments were lower than expected (but that’s not reflected in this report.) Please provide an updated cost per enrollee that accounts for money returned to DOL. 
    The report also provides cost per enrollee based on enrollment from program year 2023. DOL has much more up-to-date enrollment numbers. Please provide an updated cost per enrollee with the enrollments on campuses as of May 28, 2025, incorporating onboard strength at each campus. 
    In addition to Senators and Welch and Sanders, the letter was cosigned by Senators Tammy Duckworth (D-Ill.), Richard Blumenthal (D-Conn.), Tim Kaine (D-Va.), Ed Markey (D-Mass.), Angela Alsobrooks (D-Md.), Lisa Blunt Rochester (D-Del.), Kirsten Gillibrand (D-N.Y.), Mazie Hirono (D-Hawaii), Elizabeth Warren (D-Mass.), Chris Murphy (D-Conn.), Chris Coons (D-Del.), John Fetterman (D-Pa.), Elissa Slotkin (D-Mich.), Ben Ray Lujan (D-N.M.), Amy Klobuchar (D-Minn.), Jacky Rosen (D-Nev.), Angus King (I-Maine), Martin Heinrich (D-N.M.), Tina Smith (D-Minn.), Jack Reed (D-R.I.), Chuck Schumer (D-N.Y.), Alex Padilla (D-Calif.), Raphael Warnock (D-Ga.), Jeff Merkley (D-Ore.), Brian Schatz (D-Hawaii), Cory Booker (D-N.J.), John Hickenlooper (D-Colo.), Andy Kim (D-N.J.), Chris Van Hollen (D-Md.), Dick Durbin (D-Ill.), Catherine Cortez Masto (D-Nev.), Mark Warner (D-Va.), Jeanne Shaheen (D-N.H.), Mark Kelly (D-Ariz.), Ron Wyden (D-Ore.), Gary Peters (D-Mich.), Tammy Baldwin (D-Wis.) and Patty Murray (D-Wash.).  
    Read and download the full text of the letter to Labor Secretary Lori Chavez-DeRemer. 

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI Global: Ultra-processed foods are everywhere — and they’re quietly raising health risks

    Source: The Conversation – Canada – By Angelina Baric, PhD Student, Department of Kinesiology, McMaster University

    It’s not exactly news that junk food isn’t healthy.

    What may be surprising is exactly how pervasive ultra-processed foods (UPFs) have become and what harm they’re doing. This includes some foods that are specifically labelled and marketed as having nutritional value.

    We are nutrition researchers, and the authors of a new study that identifies some of the specific negative effects of ultra-processed foods that are readily available, very popular and often hard to resist, especially when people are feeling pressed for time.

    Our research group leads population-based studies that integrate nutrition epidemiology, food policy, and dietary assessment to better understand how modern food environments and dietary patterns influence chronic disease risk.

    While ultra-processed foods include obvious culprits like potato chips, candy and frozen pizza, there are also some that people may believe are good for them, such as packaged granola bars, sports drinks and fruit-filled yogurt. Our study used the Nova classification system to define UPFs, which are industrial formulations made mostly or entirely from substances extracted from foods, derived from food constituents with little if any intact whole food remaining.

    How UPFs harm health

    Our research, based on diet questionnaires and personal medical data that Health Canada and Statistics Canada collected from over 6,000 Canadians, shows that the effects of UPFs can pile up over time, adding to the risk of heart attack, stroke and other serious health issues by raising blood pressure and blood sugar levels, for example.

    Even a person who is thin, active and free from illness might be accumulating risk by consuming UPFs that may seem innocuous or even healthy.

    The ways ultra-processed foods harm our health aren’t just about calories or individual nutrients like salt, sugar and fat, though those aren’t making things better. It’s also in the way they’re made.

    Take that seemingly healthy tub of yogurt. On its own, yogurt is indeed very healthy. The problem is when things like jam-like fruit with preservatives or artificial vanilla flavouring are added. They make yogurt taste better but can push it into unhealthy territory.

    Even after we eliminated the impacts of influences such as the survey respondents’ body mass index, age, exercise and smoking habits, the numbers showed a specific risk that may be related to the additives that give ultra-processed foods longer shelf life, brighter colours and enhanced flavours. For example, we know that the modern diet of highly processed food is associated with distorted hormone levels.

    Some products are so heavily processed that it appears our bodies may not respond to them as they would to more natural foods. UPFs trigger inflammatory responses that suggest the body regards them as stressors, rather than nutrition.

    Substituting UPFs for healthy foods

    We learned from survey respondents that consumers are increasingly using UPFs as substitutes for healthy staples such as vegetables and fruit. This is not surprising when the wrapper on a granola bar proclaims its contents to be a good source of fibre, or a when a sports drink label says it’s a good source of electrolytes, Vitamin D or some other single nutrient.

    Granola bars are often marketed as containing fibre. While the claim may be factual, many granola bars are also high in sugar, fat or salt.
    (Shutterstock)

    While these claims are factual, they don’t represent the entire or even most significant effects of the products inside. For a long time, food policies have been very focused on single nutrients rather than thinking about the totality of our food supply.

    Our complex food supply has come to be heavily influenced by huge multinational companies and their need for sales instead of our need for health, to the point where marketing and packaging have made it challenging to understand exactly what we are eating or drinking.

    That is starting to change. Starting in January 2026, the Canadian government will require food packaging to prominently declare the presence of unhealthy amounts of sodium, sugar and saturated fat.



    Read more:
    Front-of-package food labels: A path to healthier choices

    While that will be a significant and welcome improvement in transparency, it will not change the fact that a loaf of mass-manufactured white bread, a package of bacon or even a tray of muffins may also be harming the people who eat them in ways they have not even considered.

    Setting reduction targets

    Canada’s food guide, produced by Health Canada, only suggests we limit the amount of processed food we eat, but it doesn’t set any clear national target for how much we should cut our consumption. While most other countries also stop short of setting specific limits, France has gone a step further by aiming to cut national consumption of ultra-processed foods by 20 per cent over five years.

    Setting a similar national reduction target in Canada could have a particularly significant, positive effect on people in care homes, hospitals and schools that are required to use Canada’s Food Guide in planning their menus.

    Individual consumers know how easy it is to fall into the habit of eating too many ultra-processed foods. They are hard to resist because they are heavily marketed, usually tasty, reasonably affordable and appear to make life easier by saving time and effort.

    Understanding more about what these appealing products are really doing to people is an important step toward helping consumers make better, more informed choices. We are already working on more research to understand more about what’s really inside those bright shiny packages that keep finding their way into shopping carts.

    Anthea Christoforou receives funding from the Social Sciences and Humanities Research Council of Canada and has previously received funding from the Canadian Institutes of Health Research.

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

    – ref. Ultra-processed foods are everywhere — and they’re quietly raising health risks – https://theconversation.com/ultra-processed-foods-are-everywhere-and-theyre-quietly-raising-health-risks-256419

    MIL OSI – Global Reports –

    June 10, 2025

  • MIL-OSI Security: Chinese National Pleads Guilty to Acting at the Direction of North Korea to Export Firearms, Ammo, and Technology to North Korea

    Source: United States Department of Justice Criminal Division

    An illegal alien from China pleaded guilty today to federal criminal charges for illegally exporting firearms, ammunition and other military items to North Korea by concealing them inside shipping containers that departed from the Port of Long Beach, California, and for committing this crime at the direction of North Korean government officials, who wired him approximately $2 million for his efforts.

    Shenghua Wen, 42, of Ontario, California, pleaded guilty to one count of conspiracy to violate the International Emergency Economic Powers Act (IEEPA) and one count of acting as an illegal agent of a foreign government. Wen has been in federal custody since his arrest in December 2024.

    According to his plea agreement, Wen is a citizen of the People’s Republic of China who entered the United States in 2012 on a student visa and remained in the U.S. illegally after his student visa expired in December 2013.

    Prior to entering the United States, Wen met with officials from North Korea’s government at a North Korean embassy in China. These government officials directed Wen to procure goods on behalf of North Korea.

    In 2022, two North Korean government officials contacted Wen through an online messaging platform and instructed him to buy and smuggle firearms and other goods – including sensitive technology – from the United States to North Korea via China.

    In 2023, at the direction of North Korean government officials, Wen shipped at least three containers of firearms out of the Port of Long Beach to China en route to their ultimate destination in North Korea. Wen took steps to conceal that he was illegally shipping firearms to North Korea by, among other things, filing false export information regarding the contents of the containers.

    In May 2023, Wen purchased a firearms business in Houston, paid for with money sent through intermediaries by one of Wen’s North Korean contacts. Wen purchased many of the firearms he sent to North Korea in Texas and drove the firearms from Texas to California, where he arranged for them to be shipped.

    In December 2023, one of Wen’s weapons shipments – which falsely reported to U.S. officials that it contained a refrigerator – left the Port of Long Beach and arrived in Hong Kong in January 2024. This weapons shipment was later transported from Hong Kong to Nampo, North Korea.

    In September 2024, Wen – once again acting at the direction of North Korean officials – bought approximately 60,000 rounds of 9mm ammunition that he intended to ship to North Korea.

    In furtherance of the conspiracy and at the direction of North Korean officials, Wen also obtained sensitive technology that he intended to send to North Korea. This technology included a chemical threat identification device and a handheld broadband receiver that detects known, unknown, illegal, disruptive or interfering transmissions.

    Wen also acquired or offered to acquire a civilian airplane engine and a thermal imaging system that could be mounted on a drone, helicopter, or other aircraft, and could be used for reconnaissance and target identification.

    During the scheme, North Korean officials wired approximately $2 million to Wen to procure firearms and other goods for their government.

    Wen admitted that at all relevant times he knew that it was illegal to ship firearms, ammunition, and sensitive technology to North Korea. He also admitted to never having the required licenses to export ammunition, firearms, and the above-described devices to North Korea. He further admitted to acting at the direction of North Korean government officials and that he had not provided notification to the Attorney General of the United States that he was acting in the United States at the direction and control of North Korea as required by law.

    Wen faces a maximum penalty of 20 years in prison on the count of violating the IEEPA and a maximum penalty of 10 years in prison on the count of acting as an illegal agent of a foreign government. Sentencing is scheduled for Aug. 18. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Assistant Attorney General for National Security John Eisenberg, U.S. Attorney Bilal A. Essayli for the Central District of California, and Assistant Director Roman Rozhavsky of the FBI Counterintelligence Division made the announcement.

    The FBI, Homeland Security Investigations, Defense Criminal Investigative Service (DCIS), the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Department of Commerce Bureau of Industry and Security (BIS) are investigating the case.

    Assistant U.S. Attorney Sarah E. Gerdes for the Central District of California and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case.

    MIL Security OSI –

    June 10, 2025

  • MIL-OSI Canada: People urged to prepare as warming temperatures increase wildfire, drought risk

    Source: Government of Canada regional news

    With warmer, drier conditions expected to increase across B.C., people are advised to stay prepared for climate-related emergencies.

    “As temperatures rise, so does the risk of wildfire and prolonged drought throughout B.C.,” said Kelly Greene, Minister of Emergency Management and Climate Readiness. “The Province stands ready to support communities and people during an emergency, and I urge people to take action now to increase their household preparedness. Visit PreparedBC.ca for information on how to prepare for common hazards such as heat and wildfire.”

    People are encouraged to prepare grab-and-go bags, create an emergency and evacuation plan, create an Emergency Support Services profile through their B.C. Services Card app and ensure they have renter’s or homeowner’s insurance for their property.

    If you are placed under evacuation alert for any reason, you should immediately:

    • Get prepared to leave your home on short notice.
    • Get your grab-and-go bags ready (which should include several days of clothing, food, water, toiletries and medication), as well as your emergency plan, copies of important documents (including renters and home insurance) and important mementos.
    • Listen to local emergency officials for further information on the situation.

    If you are placed under evacuation order for any reason, you must:

    • Leave the area immediately.
    • Follow the directions of local emergency officials and evacuate using the route(s) they have identified.
    • Do not return home until you have been advised that the evacuation order has been rescinded.

    In the event of an evacuation, Emergency Support Services will be available to provide temporary support to people who don’t have resources to meet their basic needs, such as accommodation, clothing and food.

    Wildfire preparedness

    Warm and dry conditions are expected throughout the province this month, and with that comes an elevated risk of wildfire. Northeastern B.C. is continuing to experience prolonged drought and is expected to remain at high risk for wildfire this summer.

    Regardless of where people live or travel in B.C., it’s critical that everyone does their part to reduce the risk of wildfire. People are urged to be aware of their local fire danger, including open burning prohibitions and report wildfires on the BC Wildfire app or by calling *5555.

    “It has been an intense start to the wildfire season across Canada, but I am incredibly proud of our BC Wildfire Service. BCWS has been there for our neighbours while also keeping us safe here at home,” said Ravi Parmar, Minister of Forests. “Summer is nearly here, and with it will come wildfires. It’s a tough season ahead for communities here in B.C., but know that we will have your back. Your role is to stay informed, prepared and FireSmart.”

    The Province is working to keep communities safe by focusing on all four phases of emergency management: prevention, preparedness, response and recovery. BC Wildfire Service is a year-round operation that enables:

    • out of province deployment to assist partner agencies;
    • improved firefighter recruitment, training and First Nations boot camps;
    • wildfire-prevention work including cultural and prescribed burning;
    • expanded BCWS contract opportunities for heavy equipment and aerial support; and,
    • incorporating new technologies to better support firefighting.

    Drought preparedness

    In addition to wildfire risk, the Province is also closely monitoring key indicators of drought risk, including snowpack. The River Forecast Centre’s latest snowpack survey, released on June 9, shows B.C.’s overall snowpack is at 44% of normal. Low snowpack, early snowmelt and warm seasonal weather forecasts point to the potential for elevated drought this summer. While these are important early indicators, rainfall in the coming weeks will also be a key factor in how drought conditions evolve throughout the province.

    Drought levels measure the severity of dryness and are updated weekly on the B.C. Drought Information Portal. This year, the drought portal features monitoring summaries, providing an overview of B.C.’s current drought conditions, impacts and outlook.

    People, communities and businesses are encouraged to take steps to use water more efficiently and prepare for potential drought conditions.

    “Drought affects the well-being of people, businesses, wildlife and ecosystems that rely on healthy watersheds,” said Randene Neill, Minister of Water, Land and Resource Stewardship. “By staying informed, planning ahead and conserving water, we can work together to safeguard both our communities and the environment.”

    People can find more information about preparing for climate-related hazards at https://PreparedBC.ca 

    Quick Facts:

    • On June 6, the Ministry of Emergency Management and Climate Readiness announced $7 million to support 139 emergency operation centre projects, benefiting 183 communities through the Community Emergency Preparedness Fund (CEPF).
    • Since 2017, the Province has provided approximately $550 million to First Nations and local governments for approximately 2,800 disaster-preparedness and mitigation projects.
    • For wildfire-prevention initiatives through BCWS, FireSmart initiatives and the Forest Enhancement Society of B.C. (FESBC), $90 million has been allocated in 2025.
    • There are 88 cultural and prescribed burn projects planned for 2025; 48 were completed in 2024.

    Learn More:

    To learn more about how to prepare for emergencies, including information about grab-and-go bags, household emergency plans and hazard-specific guides, visit https://PreparedBC.ca

    For information about active evacuation alerts and orders, visit https://EmergencyInfoBC.ca or follow @EmergencyInfoBC on X

    For more information about the Summer Outlook, visit: https://blog.gov.bc.ca/bcwildfire/category/seasonal-outlook/ 

    To learn about how to prepare for wildfires, visit: https://FireSmartBC.ca/

    To view burning prohibitions and restrictions, visit: https://www2.gov.bc.ca/gov/content/safety/wildfire-status/prevention/fire-bans-and-restrictions

    For real-time wildfire information, visit: https://wildfiresituation.gov.bc.ca or the BC Wildfire Service mobile app, which is available for Apple and Android users.

    To pre-register with Emergency Support Services, visit https://ESS.gov.bc.ca

    To access the B.C. Drought Information Portal, visit: https://droughtportal.gov.bc.ca/

    MIL OSI Canada News –

    June 10, 2025

  • MIL-OSI USA: Read More (Rep. Steube: Reduce Bureaucracy, Codify President Trump’s Executive Orders Now)

    Source: United States House of Representatives – Congressman Greg Steube (FL-17)

    June 09, 2025 | Press ReleasesWASHINGTON, D.C. — U.S. Representative Greg Steube (R-Fla.) today introduced the Federal Government Reform Act of 2025, a comprehensive bill that codifies five of President Trump’s executive orders addressing waste, restoring accountability, and modernizing the federal government.“This bill locks in President Trump’s America First reforms and strikes at the heart of the bloated federal bureaucracy. For too long, unelected bureaucrats have operated without consequence, pushing regulations that punish the American people while protecting themselves. My bill puts a stop to it,” said Rep. Steube. “We are eliminating useless agencies, restoring accountability in the federal workforce, reducing overcriminalization, and modernizing government operations. To put it simply, this bill delivers the accountability that the deep state fears.”The Federal Government Reform Act of 2025 codifies:

    The elimination of the outdated Federal Executive Institute (EO 14207)
    The modernization of Treasury payment systems (EO 14247)
    Stronger probationary periods for federal employees (EO 14284)
    A crackdown on overcriminalization in federal regulations (EO 14294)
    Efficiency upgrades at the Office of the Federal Register (EO 14295)

    The bill strengthens the federal workforce by enforcing performance standards, improves regulatory transparency, and modernizes how the federal government serves the American people.
    Rep. Steube serves on the House Ways and Means Committee and continues to lead on efforts to shrink government and defend taxpayers.Read the full bill text here.

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI USA: US Department of Labor takes ‘America First’ mission to world stage at International Labour Conference

    Source: US Department of Labor

    WASHINGTON – U.S. Department of Labor Deputy Secretary Keith Sonderling will participate in the 113th International Labor Conference in Geneva this week, leading a U.S. delegation focused on promoting the Trump administration’s America First labor agenda. 

    Deputy Secretary Sonderling will give high-level remarks during the conference that champion the U.S.’s dominant gig economy and advocate for policies that promote innovation, freedom, and economic opportunity. His mission comes as the International Labour Organization considers new global standards that could threaten millions of businesses and workers in the U.S. and abroad.

    “The United States is a global leader in the gig economy, and this administration intends to keep it that way by pushing back against international efforts to impose burdensome regulations that stifle innovation, harm growth, and kill jobs. President Trump has been clear: we will fight for American workers and American businesses each and every day – both at home and on the world stage. Amplifying that message and standing up for our people will be my key priorities at this year’s conference,” said Deputy Secretary Sonderling.

    The gig economy has become a significant driver of economic growth, offering new pathways to good-paying jobs for millions of workers globally. U.S.-developed platforms have become driving leaders for gig work, powering everything from software development to rideshare and delivery services.

    Deputy Secretary Sonderling will also host a roundtable to promote the U.S. as the premiere international leader in artificial intelligence, as well as hold bilateral meetings with representatives from various governments. He will also meet with ILO Director-General Gilbert F. Houngbo to discuss a shared commitment to ensure American workers and businesses are not undercut by unfair labor practices.

    The 113th International Labour Conference runs from June 2 to June 13, 2025, in Geneva. More than 6,000 delegates are registered to attend the conference, representing governments, as well as employers’ and workers’ organizations, from the ILO’s 187 Member States.

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI USA: Michelle W. Bowman sworn in as Vice Chair for Supervision of the Board of Governors of the Federal Reserve System

    Source: US State of New York Federal Reserve

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

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI Security: Brooklyn Man Convicted of Committing Murder in the Course of Sex Trafficking at “Penn Track” in East New York, Brooklyn

    Source: Office of United States Attorneys

    Defendant Believed to be First in the Nation to be Convicted After Trial on Sex Trafficking Murder Charge for the Fatal Shooting of a Rival Pimp in White Castle Parking Lot

    Omari Scott, also known as “Prince” and “Sir Prince,” was convicted by a federal jury today of murder in the course of sex trafficking and the sex trafficking of Jane Doe 2.  Prior to trial, on May 16, 2025, the defendant pleaded guilty to two counts of the indictment, charging him with promoting prostitution and sex trafficking of Jane Doe 1. The charges relate to Scott’s trafficking of women at an open-air sex market along a stretch of Pennsylvania Avenue in Brooklyn known as the “Penn Track.”  As proven at trial, Scott orchestrated and participated in the May 1, 2023 murder of rival pimp, Cleveland Clay, after a dispute over the control of a trafficking victim.  The verdict followed a two-week trial before United States District Judge Kiyo A. Matsumoto. Scott is the first defendant convicted of murder in the course of sex trafficking after a trial.  When sentenced, Scott faces a mandatory minimum term of 15 years in prison and up to life in prison.

    Joseph Nocella, Jr., United States Attorney for the Eastern District of New York, Christopher G. Raia, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI), and Jessica S. Tisch, Commissioner, New York City Police Department (NYPD), announced the verdict.

    “As proven at trial, the defendant is a murderer, sex trafficker, and abuser of women with no regard whatsoever for human life, who now faces punishment for his vicious crimes,” stated United States Attorney Nocella.  “The Penn Track has been a blight for too long and my Office and our law enforcement partners are working diligently to prosecute violent sex traffickers who promote prostitution by exploiting vulnerable victims and endangering the entire community.”

    “Not only did Omari Scott force women to perform sexual acts, but he murdered those who threatened to steal his twisted source of revenue,” stated FBI Assistant Director in Charge Raia.  “Scott’s callous actions reflect an apathetic sentiment of human life, treating his victims as property and using them to profit.  May today’s conviction reflect the FBI’s unwavering commitment to dismantling sex trafficking networks which target vulnerable victims and incite violence in our city streets.”

    “Omari Scott didn’t just profit from trafficking women along the Penn Track — he enforced that control through violence, including orchestrating the murder of a rival trafficker,” stated NYPD Commissioner Tisch.  “Today’s conviction holds him accountable for his brutal crimes and makes clear that this kind of violent behavior has no place on our streets. I am grateful to the NYPD investigators, the FBI, and the prosecutors in this case for bringing him to justice and for their commitment to protecting the survivors of these horrific crimes.”

    As proven at trial, in April 2023, Scott learned that Jane Doe 2 was planning to leave his employ to work for Clay, who was also trafficking women on the Penn Track.  Scott was captured on a recorded call bemoaning his loss, telling an associate, “I don’t got no hoes right now.”  Scott further explained that Jane Doe 2 “chose on me,” a reference to leaving one pimp for another.  On April 30, 2023, Scott found Jane Doe 2 on the Penn Track, grabbed her by the hair, dragged her in the street and threw her into his car.  The next morning, Scott was captured on surveillance video engaged in a heated argument with Clay along the Penn Track.  Scott recruited another sex trafficker, Michael Simmons, to murder Clay, which Simmons carried out by shooting Clay multiple times at point blank range in a White Castle parking lot on the Penn Track.  Simmons then returned to Scott, who had been waiting for him in a nearby laundromat parking lot, to report that the job was done. Clay succumbed to his wounds several hours later.  Simmons pleaded guilty in January 2025 to murder in the course of sex trafficking and sex trafficking of Jane Doe 2 and is awaiting sentencing.

    The government’s case is being handled by the Office’s Human Trafficking and Civil Rights Section.  Assistant United States Attorneys Erin Reid, Anna Karamigios, and Miranda Gonzalez are in charge of the prosecution, with the assistance of Paralegal Specialist Eleanor Jaffe‑Pachuilo, and additional assistance from Victim Witness Coordinator Huda Abouchaer, Victim Witness Specialist Kristina Marius, and Paralegal Specialist Paul Padilla.

    The Defendant:

    OMARI SCOTT (also known as “Prince” and “Sir Prince”)
    Age:  44
    Brooklyn, New York

    Defendant Who Previously Pleaded Guilty:

    MICHAEL SIMMONS (also known as “Victory”)
    Age:  41
    Pittsburgh, Pennsylvania

    E.D.N.Y. Docket No. 24-CR-158 (KAM)

    MIL Security OSI –

    June 10, 2025

  • MIL-OSI USA: Murkowski Engages with Education and Labor Nominees on Alaska Priorities

    US Senate News:

    Source: United States Senator for Alaska Lisa Murkowski

    06.09.25

    Washington, DC – This week, the Senate Committee on Health, Education, Labor, and Pensions (HELP) held a hearing to consider the nominations of Dr. Penny Schwinn to be Deputy Secretary of Education, Kimberly Richey to be Assistant Secretary for Civil Rights at the Department of Education (ED), Daniel Aronowitz to be Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA), Department of Labor (DOL), and David Keeling to be Assistant Secretary  of Labor for the Occupational Safety and Health Administration (OSHA).

    U.S. Senator Lisa Murkowski (R-AK), pressed the nominees on a number of Alaska priorities, including requirements to meaningfully engage with Tribal representatives on education policy, support for State-Tribal Education Compact Schools (STECs), the importance of clear regulations for Employee Stock Ownership Plans (ESOP), and ensuring the National Institute for Occupational Safety and Health (NIOSH) has the resources to support Alaska’s employees’ safety.

    Click here to watch the Senator’s full line of questioning.

    The full transcript of Murkowski’s questions during this week’s HELP hearing is below.

    TRANSCRIPT

    Murkowski: Thank you, Mr. Chairman, and welcome ladies and gentlemen. Thank you, for your willingness to serve.

    I want to start with you, Dr. Schwin. As you know Alaska has the greatest number of Indian Tribes in any state. A lot of the focus now on what more we can be doing on the education front. Alaska Native leaders, and parents are really interested in doing more when it comes to self-determination over their children’s education.

    In the last reauthorization of ESSA, I included language to require states and school districts to engage in meaningful consultation with tribal representatives. Unfortunately, we haven’t seen a lot of engagement as we had hoped since 2017, and it’s been across multiple administrations here. So, I would just like to put this to your attention. Recognizing that it is important to meet the requirements of meaningful consultation, whether it is in the Department of Education, or whether it is in Interior, it is across our government and so I put that in front of you here today.

    Another issue that I’d like to bring to your attention, the State of Alaska is moving forward with a pilot program to create what we call STEC [State Tribal Education Compact] Schools. Secretary McMahon has met with some of the STEC school’s representatives. This would effectively, with this education compact with the tribes, would be public schools that are open to all students to offer culturally relevant educational models. I don’t know if you’ve been brought up to speed, if you’ve had any conversations on these, but we’re hoping that you would be able to effectively advocate for additional support as we move forward with these initiatives in Alaska.

    Dr. Schawn: Thank you. I will go ahead and say that your staff gave me a little bit of information and gave me some information to follow up on, if I’m so confirmed. But I really look forward to working with your office on that and want to just congratulate you on what I think is a really innovative program and look forward to seeing more about it.

    Murkowski: Well, feel like we need to be innovative because the status quo has not helped our Native students. When our Native students did not do well, Alaskan students writ large do not do well. So, we want to be doing more in this area.

    Let me turn to you, Mr. Aronowitz. You’re probably very familiar with the angst that’s been expressed by some about the need for a single clear regulatory definition of good-faith effort for valuing ESOP stock. The concern is that instead of having a clear definition that’s spelled out in regulation, ESOPs have been operating under this kind of patchwork of litigation and investigation. There’s also been some concern that the department has taken excessive enforcement actions against ESOPs. Can you speak very briefly to your views on these?

    Mr. Aronowitz: I believe that Congress wants ESOPs, and everybody’s for ESOPs except the Department of Labor the last 20 years, and I will end the war on ESOPs. I think it’s the best way for employees to get an additional benefit, and ownership in an American company. The valuation companies have all been sued by the Department of Labor, that can’t be right that every single one of them are doing it wrong. What the department is doing is nitpicking the professional judgment of the valuation professionals. I’m going to put an end to that, because I think unless there is a clear conflict of interest, then the valuation is appropriate, when done by an independent valuation firm.

    Murkowski: Well, there are so many in my state where the ESOP is really looked at and valued as that commitment to not only business, but employee security as well. So, thank you for that.

    Mr. Keeling, OSHA has traditionally relied on NIOSH data and recommendations for many of the workplace safety standards. I come from a state where we, unfortunately, have a high incidence of accidents on the workforce. The commercial fishing industry has been tagged as one of the most dangerous occupations in the country. We have significant and severe wildfires every year, so we worry about health and safety risks to our firefighters. We have seen the administration moving forward with some pretty significant cuts to NIOSH, and I’m concerned that this is going to hamper some of the vital research that’s out there. So, I don’t know if you can speak to whether we have a plan on how we fill the data and information gap if NIOSH is unable to produce what we need in terms of timely data and recommendations, as you work to inform rule making.

    Mr. Keeling: Yes, Senator. Thank you for the question.

    There is a gap if you will, if NIOSH doesn’t exist, right? But there are ways through that, I think. Use of private entities to fill some of those gaps. Obviously, I’m not in place, I have not spoken to anyone on the career side from OSHA on that point, and NIOSH doesn’t directly report to the Department of Labor, so, there’s a little bit of a difference there, a separation there, as well. I will have questions as well, if I’m lucky enough to be confirmed, about how we do that. But I think there are paths through. I think through using the professional groups that are out there, and by using some private resources, there are ways to fill the gap. Not necessarily easily, but there are ways.

    Murkowski: Right. we don’t want to see those gaps. Thank you, Mr. Chairman.

    MIL OSI USA News –

    June 10, 2025

  • MIL-OSI USA: Founder of Cryptocurrency Payment Company Charged with Evading Sanctions and Export Controls, Defrauding Financial Institutions, and Violating the Bank Secrecy Act

    Source: US State of North Dakota

    Defendant Allegedly Laundered More Than $500M Through the U.S. Financial System, Including by Facilitating Transactions with Sanctioned Russian Banks

    A 22-count indictment was unsealed today charging Iurii Gugnin, also known as Iurii Mashukov and George Goognin, 38, a resident of New York and citizen of Russia, with various offenses related to using his cryptocurrency company Evita to funnel more than $500 million of overseas payments through U.S. banks and cryptocurrency exchanges while hiding the source and purpose of the transactions.

    According to court documents, Gugnin is charged with wire and bank fraud, conspiracy to defraud the United States, violation of the International Emergency Economic Powers Act (IEEPA), operating an unlicensed money transmitting business, failing to implement an effective anti-money laundering compliance program, failing to file suspicious activity reports, money laundering, and related conspiracy charges. Gugnin was arrested and arraigned today in New York.

    “The defendant is charged with turning a cryptocurrency company into a covert pipeline for dirty money, moving over half a billion dollars through the U.S. financial system to aid sanctioned Russian banks and help Russian end-users acquire sensitive U.S. technology,” said John A. Eisenberg, Assistant Attorney General for National Security. “The Department of Justice will not hesitate to bring to justice those who imperil our national security by enabling our foreign adversaries to sidestep sanctions and export controls.”

    “As alleged, Gugnin came to the United States and set up a money laundering operation under the guise of a cryptocurrency start-up, which he then used to evade sanctions and export controls and defraud U.S. financial institutions,” said U.S. Attorney Joseph Nocella Jr. for the Eastern District of New York. “Today’s arrest demonstrates that this Office will vigorously prosecute those who abuse the U.S. financial system in furtherance of criminal activity, particularly when it undermines national security.”

    “Gugnin’s cryptocurrency company allegedly served as a front to launder hundreds of millions of dollars for sanctioned Russian entities and to obtain export-controlled technology for the Russian government,” said Assistant Director Roman Rozhavsky of the FBI’s Counterintelligence Division. “Let this serve notice that using cryptocurrency to hide illegal conduct will not prevent the FBI and our partners from holding you accountable.”

    As alleged in the indictment, Gugnin is the founder, President, Treasurer, and Compliance Officer of U.S-based Evita Investments Inc. (Evita Investments) and Evita Pay Inc. (Evita Pay) (collectively, Evita). Gugnin used both companies to enable foreign customers — many of whom held funds at sanctioned Russian banks — to provide him with cryptocurrency, which he then laundered through cryptocurrency wallets and U.S. bank accounts. Gugnin ultimately converted the funds into U.S. dollars or other fiat currencies and then made payments through bank accounts in Manhattan on behalf of his foreign customers. In the process, the sources of the funds were obscured, disguising the audit trail and hiding the true counterparties to the transactions. Between June 2023 and January 2025, Gugnin used Evita to facilitate the movement of approximately $530 million through the U.S. financial system, most of which he received in the form of a cryptocurrency stablecoin known as Tether, or “USDT.”

    To effectuate the scheme, Gugnin defrauded various banks and cryptocurrency exchanges through which he converted funds and made wire transfers. Gugnin repeatedly lied to these banks and exchanges, telling them that Evita did not conduct business with entities in Russia and did not deal with sanctioned entities. In fact, many of Gugnin’s customers were located in Russia, and he facilitated payments in funds held at sanctioned Russian banks, including PJSC Sberbank, PJSC Sovcombank, PJSC VTB Bank, and JSC Tinkoff Bank. Gugnin maintained personal accounts at two sanctioned Russian banks, JSC Alfa-Bank and PJSC Sberbank, with which he transacted while residing in the United States. Gugnin also facilitated payments by foreign customers to procure sensitive electronics, including an export-controlled server designed by a U.S. technology company, and laundered funds from a Moscow-based supplier to purchase parts for Rosatom, Russia’s state-owned nuclear technology company. To conceal his activities, Gugnin regularly obfuscated invoices by digitally “whiting out” the names and addresses of his Russian customers.

    Gugnin also failed to implement Evita’s own purported anti-money laundering program and failed to file suspicious activity reports, as required under the Bank Secrecy Act. Although Gugnin represented to banks and cryptocurrency exchanges that Evita followed rigorous anti-money laundering and know-your-customer requirements, in practice he flouted those requirements, as well as the requirement to file reports of suspicious activities with the Financial Crimes Enforcement Network (FinCEN). Gugnin ultimately registered Evita Pay as a money transmitter with FinCEN and the state of Florida but did so by making materially false statements to the state of Florida about Evita Pay’s business. Gugnin used that fraudulently obtained state license to induce a cryptocurrency exchange to process transactions on his behalf.

    In the course of his scheme, Gugnin conducted web searches that confirmed his awareness that he was breaking the law, including searches for “how to know if there is an investigation against you”; “evita investments inc. criminal records search”; “Iurii Gugnin criminal records”; “money laundering penalties US”; and “penalties for sanctions violations EU luxury goods.” He also visited website pages titled, respectively “am I being investigated?”; “signs you may be under criminal investigation”; and “what are the best ways to find out if you’re being investigated and what can someone do when they think they might be under investigation.”

    If convicted, Gugnin faces a maximum penalty of 30 years in prison for each count of bank fraud; a maximum penalty of 20 years in prison for each of the wire fraud, IEEPA, money laundering, and related conspiracy counts; a maximum penalty of 10 years in prison for failure to implement an effective anti-money laundering program and failure to file suspicious activity reports; and a maximum penalty of five years in prison for conspiracy to defraud the United States and operating an unlicensed money transmitting business.

    Assistant U.S. Attorney Matthew Skurnik for the Eastern District of New York and Trial Attorney Dallas Kaplan of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case. Assistant U.S. Attorney Laura Mantell for the Eastern District of New York’s Asset Recovery Section is handling forfeiture matters.

    Today’s actions were coordinated through the Justice and Commerce Departments’ Disruptive Technology Strike Force. The Disruptive Technology Strike Force is an interagency law enforcement strike force co-led by the Departments of Justice and Commerce designed to target illicit actors, protect supply chains, and prevent critical technology from being acquired by authoritarian regimes and hostile nation-states.

    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 –

    June 10, 2025

  • MIL-OSI: Canadian Nuclear Laboratories and the University of Ottawa Accelerate Low Dose Radiation Research and Foster Next Generation of Scientists

    Source: GlobeNewswire (MIL-OSI)

    CHALK RIVER, Ontario, June 09, 2025 (GLOBE NEWSWIRE) — Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology organization, and the University of Ottawa (uOttawa), one of Canada’s most innovative universities, are pleased to announce a new partnership to advance knowledge, education, research and innovation in low dose radiation (LDR) exposure health effects.

    Leveraging the leading research organizations’ complementary capabilities, the new partnership builds on CNL’s global leadership in LDR research with the establishment of a CNL-led LDR innovation hub, accelerating research critical to public safety and the health of Canadians. It will also serve to increase capabilities, education and training opportunities to graduate students and early career researchers.

    The partnership will also extend uOttawa researchers’ access to Atomic Energy of Canada Limited’s world class facilities at Chalk River Laboratories, including the unique Biological Research Facility, associated irradiation facilities and LDR Tissue Bank, and establishes a CNL satellite laboratory within uOttawa’s new Advanced Medical Research Centre (AMRC) – set to open in 2026. This physical presence will be co-located with the Ottawa Institute of Systems Biology (OISB) as well as uOttawa state-of-the-art Core Facilities, which altogether will support new research directions in radiation sciences and advanced organoid-based systems biology. These areas are rapidly developing strengths at uOttawa, positioning the university as a national, and potentially international, leader in this field. uOttawa will also offer reciprocal access to key research facilities on campus, in addition to those located at the faculty of medicine and in AMRC.

    “As a major player in the global research and development effort to support LDR research, CNL is focused on the prevention or reduction of radiation exposure effects in workers, patients and the larger population,” says Dr. Stephen Bushby, Vice-President, Science & Technology, CNL. “We are very excited to include uOttawa as a major partner in the work needed to shed light on this complex field of research.”

    As part of this partnership, CNL will be contributing towards the acquisition of a mass spectrometer, which will be installed in the in the Metabolomics Core Facility at uOttawa. This strategic investment, supporting collaborative initiatives between OISB and CNL, will enable leading-edge single-cell metabolomics and spatial metabolomics, a rapidly advancing field with transformative potential in biomedical research. This will be the only equipment of its kind in eastern Canada, offering unique capabilities for high-resolution chemical imaging at the cellular level. The instrument will not only serve researchers at uOttawa, but also attract national and international collaborators, firmly establishing uOttawa as a leader in metabolomics and precision health research.

    The mass spectrometer will be a central component of the new Spatial Biology and Single-Cell Suite (3S) within the AMRC. This cutting-edge suite will integrate transformative new technologies into a coordinated workflow that complements and enhances five existing and intensively used Core Facilities: Flow Cytometry, Metabolomics, Gene Editing, Cellular Imaging, and Bioinformatics. By bridging these platforms, 3S will significantly expand research capabilities in some of uOttawa’s strongest areas of discovery, particularly brain, heart, and cancer biology—driving breakthroughs in systems biology, precision medicine, and therapeutic development.

    “This new equipment, the only one of its kind in Eastern Canada, positions the University of Ottawa as a leader in metabolomics and precision health research, while attracting national and international collaborations,” says Julie St-Pierre, Interim Vice-President, Research and Innovation, uOttawa.

    This new partnership builds on over a decade of collaborative research involving CNL and multiple uOttawa faculties, including Engineering, Science and Medicine. These collaborations have advanced understanding of the biomedical impacts of LDR, including studies on DNA damage and repair, protein synthesis, epigenetics, mitochondrial biology, metabolism, immunity, and stem cell functions. As part of this partnership, CNL has also provided funding support for postdoctoral fellow stipends, further enabling high-impact research and talent development.

    With the field of LDR research growing and Canadian leadership in LDR research well-recognized, both organizations will continue to explore additional opportunities to further strengthen this partnership.

    About CNL

    As Canada’s premier nuclear science and technology laboratory and working under the direction of Atomic Energy of Canada Limited (AECL), CNL is a world leader in the development of innovative nuclear science and technology products and services. Guided by an ambitious corporate strategy known as Vision 2030, CNL fulfills three strategic priorities of national importance – restoring and protecting the environment, advancing clean energy technologies, and contributing to the health of Canadians.

    By leveraging the assets owned by AECL, CNL also serves as the nexus between government, the nuclear industry, the broader private sector and the academic community. CNL works in collaboration with these sectors to advance innovative Canadian products and services towards real-world use, including carbon-free energy, cancer treatments and other therapies, non-proliferation technologies and waste management solutions.

    To learn more about CNL, please visit www.cnl.ca.

    About the University of Ottawa

    The University of Ottawa is powered by research. Located in Canada’s capital, we bring together energetic and creative scholars to tackle urgent global challenges and to respond to emerging opportunities.

    As one of Canada’s most innovative universities, we generate breakthroughs and discoveries that make a real difference in communities across Ontario, Canada and the world. Our thought leaders provide evidence-based insights that inform policy and support industry.

    Our influence keeps growing due to our vast range of international partnerships, including our membership in the U7+ Alliance. As the world’s largest French-English university, we are a driving force in the Francophonie.

    To learn more about uOttawa, please visit www.uottawa.ca.

    CNL Contact:
    Philip Kompass
    Director, Corporate Communications
    1-866-886-2325
    media@cnl.ca

    uOttawa contact:
    media@uottawa.ca

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c4cd1c0-401a-44e6-83ce-e65ea78dc6b4

    The MIL Network –

    June 10, 2025

  • MIL-OSI: Amdark Limited Offers Investment Fraud Recovery Program to Combat Surge in Online Scams in 2025

    Source: GlobeNewswire (MIL-OSI)

    Amdark Limited, a top-tier financial recovery services provider, has unveiled a fraud recovery program, emphasizing the importance of tracking and recovering funds in online scams in 2025.

    CHELMSFORD, United Kingdom, June 09, 2025 (GLOBE NEWSWIRE) — In the latest news, Amdark Limited offers an investment fraud recovery program that helps to track and recover online scams. Investment fraud happens when someone lies or misleads others into investing money, often with false promises of guaranteed profits, low risk, or quick returns. The scammer might pose as a financial advisor, broker, or company representative and may use fake websites, social media ads, or phone calls to gain your trust.

    Significance of Investment Fraud Recovery Services

    Online scams have become a significant concern in the digital finance space, affecting both novice and experienced investors. Fraudulent schemes, such as Ponzi schemes, phishing attacks, fake Initial Coin Offerings (ICOs), and rug pulls, are just a few of the ways scammers target their victims. The decentralized and anonymous nature of crypto transactions makes it incredibly difficult to trace and reverse these fraudulent activities.

    Many traditional banking systems offer ways to dispute transactions, the irreversible nature of crypto transactions means that stolen funds are typically lost forever. This leaves victims in a position where they may feel helpless, as recovering lost assets requires specialized knowledge and resources. In such cases, Amdark Limited steps in to help victims navigate the complex and often opaque world of crypto scam recovery.

    Reasons Behind Investment Fraud Growing in 2025

    Technology makes it easier than ever to connect with people but it also gives scammers new tools to exploit victims. However, individuals are investing and building a secure future but simultaneously face cybercrime issues. Amdark Limited helps track every scam and offers crypto forensic services for regulators, law enforcement, companies, and individuals to ensure that the individual’s transactions are safe and secure. When individuals need a high level of accuracy for witness or rediscovery, the company assists the clients in evaluating their legal situations and provides accurate and up-to-date forensic data. It also offers the latest technology and data recovery services, which help identify and extract data from computers and other advanced devices.

    Amdark Limited Investment Recovery Program Protects Investment Fraud

    The company shed light on how to avoid falling victim:

    • Do Your Research – Always investigate the company, the people involved, and the investment itself. Google reviews, search for scam warnings and check financial regulatory websites.
    • Verify Licensing – Legitimate brokers or advisors must be registered. Use government or financial watchdog websites to confirm credentials.
    • Avoid “Risk-Free” Offers – No investment is risk-free. Be wary of anyone claiming otherwise.
    • Don’t Trust Social Media Alone – Just because an ad appears on Facebook or Instagram doesn’t mean it’s trustworthy. Always double-check before handing over your money.
    • Consult an Expert – Before investing large amounts, speak to a licensed financial advisor or a legal expert in finance.

    Fund Recovery Services Matter

    Scammers are clever, and once they’ve taken their money, they rarely leave a trail. That’s where professionals come in. Fund recovery agencies combine legal, forensic, and digital tools to track their stolen funds and attempt to retrieve them. While not all cases lead to full recovery, many victims have successfully reclaimed a portion or even all of their lost investments through expert help.

    Furthermore, investment fraud is one of the fastest-growing financial crimes in 2025, and its consequences are both emotional and financial. To combat this online scam chain, Amdark Limited brings real solutions and become a trusted partner in investment fraud recovery that can guide them through the process of reclaiming what’s there.

    About Amdark Limited:

    For over 20 years, Amdark Limited has been an emerging provider of financial recovery services, specializing in helping victims of online scams recover their losses. The company has a team of experienced financial experts who have a proven track record of success. Amdark Limited offers a free consultation to assess each case and determine the possibility of recovery.

    Media Contact:
    Company Name: Amdark Limited
    Contact person:Alan Kalbfell
    Contact email: help@amdarklimited.com
    Website link: www.amdarklimited.com

    Disclaimer: This press release is provided by the Amdark Limited. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

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    The MIL Network –

    June 10, 2025

  • MIL-OSI Security: Security News: Founder of Cryptocurrency Payment Company Charged with Evading Sanctions and Export Controls, Defrauding Financial Institutions, and Violating the Bank Secrecy Act

    Source: United States Department of Justice

    Defendant Allegedly Laundered More Than $500M Through the U.S. Financial System, Including by Facilitating Transactions with Sanctioned Russian Banks

    A 22-count indictment was unsealed today charging Iurii Gugnin, also known as Iurii Mashukov and George Goognin, 38, a resident of New York and citizen of Russia, with various offenses related to using his cryptocurrency company Evita to funnel more than $500 million of overseas payments through U.S. banks and cryptocurrency exchanges while hiding the source and purpose of the transactions.

    According to court documents, Gugnin is charged with wire and bank fraud, conspiracy to defraud the United States, violation of the International Emergency Economic Powers Act (IEEPA), operating an unlicensed money transmitting business, failing to implement an effective anti-money laundering compliance program, failing to file suspicious activity reports, money laundering, and related conspiracy charges. Gugnin was arrested and arraigned today in New York.

    “The defendant is charged with turning a cryptocurrency company into a covert pipeline for dirty money, moving over half a billion dollars through the U.S. financial system to aid sanctioned Russian banks and help Russian end-users acquire sensitive U.S. technology,” said John A. Eisenberg, Assistant Attorney General for National Security. “The Department of Justice will not hesitate to bring to justice those who imperil our national security by enabling our foreign adversaries to sidestep sanctions and export controls.”

    “As alleged, Gugnin came to the United States and set up a money laundering operation under the guise of a cryptocurrency start-up, which he then used to evade sanctions and export controls and defraud U.S. financial institutions,” said U.S. Attorney Joseph Nocella Jr. for the Eastern District of New York. “Today’s arrest demonstrates that this Office will vigorously prosecute those who abuse the U.S. financial system in furtherance of criminal activity, particularly when it undermines national security.”

    “Gugnin’s cryptocurrency company allegedly served as a front to launder hundreds of millions of dollars for sanctioned Russian entities and to obtain export-controlled technology for the Russian government,” said Assistant Director Roman Rozhavsky of the FBI’s Counterintelligence Division. “Let this serve notice that using cryptocurrency to hide illegal conduct will not prevent the FBI and our partners from holding you accountable.”

    As alleged in the indictment, Gugnin is the founder, President, Treasurer, and Compliance Officer of U.S-based Evita Investments Inc. (Evita Investments) and Evita Pay Inc. (Evita Pay) (collectively, Evita). Gugnin used both companies to enable foreign customers — many of whom held funds at sanctioned Russian banks — to provide him with cryptocurrency, which he then laundered through cryptocurrency wallets and U.S. bank accounts. Gugnin ultimately converted the funds into U.S. dollars or other fiat currencies and then made payments through bank accounts in Manhattan on behalf of his foreign customers. In the process, the sources of the funds were obscured, disguising the audit trail and hiding the true counterparties to the transactions. Between June 2023 and January 2025, Gugnin used Evita to facilitate the movement of approximately $530 million through the U.S. financial system, most of which he received in the form of a cryptocurrency stablecoin known as Tether, or “USDT.”

    To effectuate the scheme, Gugnin defrauded various banks and cryptocurrency exchanges through which he converted funds and made wire transfers. Gugnin repeatedly lied to these banks and exchanges, telling them that Evita did not conduct business with entities in Russia and did not deal with sanctioned entities. In fact, many of Gugnin’s customers were located in Russia, and he facilitated payments in funds held at sanctioned Russian banks, including PJSC Sberbank, PJSC Sovcombank, PJSC VTB Bank, and JSC Tinkoff Bank. Gugnin maintained personal accounts at two sanctioned Russian banks, JSC Alfa-Bank and PJSC Sberbank, with which he transacted while residing in the United States. Gugnin also facilitated payments by foreign customers to procure sensitive electronics, including an export-controlled server designed by a U.S. technology company, and laundered funds from a Moscow-based supplier to purchase parts for Rosatom, Russia’s state-owned nuclear technology company. To conceal his activities, Gugnin regularly obfuscated invoices by digitally “whiting out” the names and addresses of his Russian customers.

    Gugnin also failed to implement Evita’s own purported anti-money laundering program and failed to file suspicious activity reports, as required under the Bank Secrecy Act. Although Gugnin represented to banks and cryptocurrency exchanges that Evita followed rigorous anti-money laundering and know-your-customer requirements, in practice he flouted those requirements, as well as the requirement to file reports of suspicious activities with the Financial Crimes Enforcement Network (FinCEN). Gugnin ultimately registered Evita Pay as a money transmitter with FinCEN and the state of Florida but did so by making materially false statements to the state of Florida about Evita Pay’s business. Gugnin used that fraudulently obtained state license to induce a cryptocurrency exchange to process transactions on his behalf.

    In the course of his scheme, Gugnin conducted web searches that confirmed his awareness that he was breaking the law, including searches for “how to know if there is an investigation against you”; “evita investments inc. criminal records search”; “Iurii Gugnin criminal records”; “money laundering penalties US”; and “penalties for sanctions violations EU luxury goods.” He also visited website pages titled, respectively “am I being investigated?”; “signs you may be under criminal investigation”; and “what are the best ways to find out if you’re being investigated and what can someone do when they think they might be under investigation.”

    If convicted, Gugnin faces a maximum penalty of 30 years in prison for each count of bank fraud; a maximum penalty of 20 years in prison for each of the wire fraud, IEEPA, money laundering, and related conspiracy counts; a maximum penalty of 10 years in prison for failure to implement an effective anti-money laundering program and failure to file suspicious activity reports; and a maximum penalty of five years in prison for conspiracy to defraud the United States and operating an unlicensed money transmitting business.

    Assistant U.S. Attorney Matthew Skurnik for the Eastern District of New York and Trial Attorney Dallas Kaplan of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case. Assistant U.S. Attorney Laura Mantell for the Eastern District of New York’s Asset Recovery Section is handling forfeiture matters.

    Today’s actions were coordinated through the Justice and Commerce Departments’ Disruptive Technology Strike Force. The Disruptive Technology Strike Force is an interagency law enforcement strike force co-led by the Departments of Justice and Commerce designed to target illicit actors, protect supply chains, and prevent critical technology from being acquired by authoritarian regimes and hostile nation-states.

    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 –

    June 10, 2025
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