Category: corporate corruption

Hackers have accessed approximately 632,000 emails from the Department of Defense and other federal agencies this year, the US Office of Personnel Management (OPM) confirmed. The report detailed a large-scale cyberattack in May 2023 in which emails from US government offices, private sectors, airlines, and academic entities were accessed by a suspected Russian group called “CL0P.” Alongside electronic personal data, the actors breached internal tracking codes and government employee survey links issued by agencies. Through File Transfer Software The cybercriminals…

FTX founder Sam Bankman-Fried plans to testify at his fraud trial, his lawyer told a federal judge Wednesday, ending speculation over whether a man who embraced the spotlight during his years atop the cryptocurrency world could remain silent after prosecutors portrayed him as a greedy entrepreneur who stole billions of dollars from customers. Attorney Mark Cohen told Judge Lewis A. Kaplan that he planned to call three witnesses “and then our client is also going to be testifying” after prosecutors…

The Intercept has an interesting article that reveals another reason why some newspaper publishers are not great fans of the site: The New York Times tried to block a web crawler that was affiliated with the famous Internet Archive, a project whose easy-to-use comparisons of article versions has sometimes led to embarrassment for the newspaper. As the article explains, one of the important uses of the Internet Archive’s Wayback Machine is to compare Web pages as they are updated over time. It allows the…

At least 24 journalists are among the more than 6,000 people who have been killed in the ongoing war between Israel and Hamas, according to the latest tally released Wednesday by the Committee to Protect Journalists. In addition to the steep toll the fighting has meant for civilians in the region, the conflict in Gaza has resulted in the deadliest stretch for journalists in Israel and the occupied territories since the committee began tracking journalist deaths in 1992, the organization’s…

SEOUL – South Korean authorities arrested Kakao’s chief investment officer (CIO) for alleged stock price manipulation in a high-profile takeover battle over K-pop agency SM Entertainment. Bae Jae-hyun was arrested early on Thursday, according to the Seoul Southern District Court which issued the warrant. Internet giant Kakao won a controlling stake in SM after an intense bidding war with Hybe, the label behind hit boy group BTS. Financial regulators accused the executive, along with two others working at Kakao and…

U.S. Attorney’s Office Eastern District of Florida FOR IMMEDIATE RELEASE Thursday, October 12, 2023  BEAUMONT, Texas – A Houston man who served as a production manager in a counterfeit drug trafficking scheme has been sentenced to federal prison for drug trafficking and money laundering violations in the Eastern District of Texas, announced U.S. Attorney Damien M. Diggs today. Willis Reed, 61, pleaded guilty to conspiracy and was sentenced to 60 months in federal prison today by U.S. District Judge Marcia…

Suavecito was the first product that Douglas Mrdeza listed to sell on Amazon back in 2014. He had ordered a bit too much of the specialty hair pomade for his barbershop in East Lansing, Michigan. He wanted to see whether he could offload some online. It sold out. So, he ordered more. This time he paid Amazon some extra money to use its warehouse storage and shipping service. “I did the calculation, bought what would have sold in a month…

Facing a likely roadblock from House Republicans on aid for Ukraine, President Joe Biden said Wednesday he’s planning to give a major speech on the issue and suggested there may be “another means” to provide support for Kyiv if Congress continues to balk. “I’m going to be announcing very shortly a major speech I’m going to make on this issue and why it’s critically important for the United States and our allies that we keep our commitment” to Ukraine, Biden…

I know many of you have heard this before, but Cory Doctorow’s “enshittification” concept is such a useful framework to think about things: first, companies are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. As I’ve highlighted, much of this is driven by the ridiculous demands of Wall St. and the belief that companies have a fiduciary…

Sept 28 (Reuters) – Republicans in the U.S. House of Representatives hold their first hearing on Thursday in an impeachment inquiry into Democratic President Joe Biden after months of investigations of his son Hunter Biden’s foreign business dealings. They have not found any evidence of misconduct by Biden himself. The White House says Biden has done nothing wrong and Republicans have no basis for an impeachment inquiry. Following is some of the evidence that has come to light: HUNTER’S BUSINESSES Republicans have…

WASHINGTON, Sept 28 (Reuters) – Republicans leading an impeachment inquiry of President Joe Biden detailed foreign payments to members of his family in their first hearing on Thursday, but did not provide evidence that the Democratic president had personally benefited. The initial impeachment hearing by the U.S. House of Representatives Oversight Committee served as a review of evidence that Republicans have gathered so far about foreign business ventures by Biden’s troubled son Hunter Biden, 53, which they say shows that Biden’s family…

The US Department of Justice has stepped up its probe into Credit Suisse Group and UBS Group over suspected compliance failures that allowed Russian clients to evade sanctions, according to people familiar with the situation. What began as a series of subpoenas sent to a range of banks early this year has developed into a full-scale investigation focusing on Credit Suisse, said the people, who requested anonymity to speak about an ongoing inquiry. The DOJ has briefed US-based lawyers for…

Major international governments have signed multibillion-dollar legal contracts with drug companies in order to secure access to covid-19 vaccines. But the drug companies and governments have refused to divulge details, saying the information is “commercial in confidence.” In 2021, we got our first peek at contracts between Pfizer and various international countries after they were leaked to The Bureau of Investigative Journalism and US consumer group Public Citizen. “The contracts offer a rare glimpse into the power one pharmaceutical corporation has gained to silence…

Over 400,000 nuisance calls in total have been made to the Japanese Embassy in Beijing since the release of treated radioactive water from the crippled Fukushima nuclear power plant into the sea began in late August, Japanese government sources said Tuesday. On the back of growing anti-Japan sentiment in China, the daily number of harassing calls received by the embassy peaked at more than 40,000 on Aug 25, a day after the ocean discharge started, and has stayed at around…

The US could be heading for economic turmoil again 15 years after the 2008 financial crisis rocked the country, three experts have said. Global finance giant Lehman Brothers filed for bankruptcy on September 15, 2008, more than 150 years after its founding. It was the first major US victim of the sub-prime mortgage collapse. The first warning of the Credit Crunch came a year earlier, with the run small regional British mortgage lender Northern Rock after it asked the Bank…

The trend of banks increasing their net interest margins and channeling their efforts into loan refinancing has raised concerns that it will reduce competition in the lending market. This shift could have significant implications for borrowers and the broader economy, according to Peter James (pictured above), director of non-bank lender Mortgage Ezy. “Banks are notorious for fattening their net interest margins (NIM) on loans whenever the cash rate scales higher,” James said. “While borrowers bear the brunt of RBA rate…