US Attorney General Warns Ransomware ‘Getting Worse and Worse’/strong>
Masood Farivar, 09 June 2021
U.S. Attorney General Merrick Garland warned Wednesday that ransom-motivated cyberattacks are “getting worse and worse,” echoing other top Biden administration officials who have sounded the alarm about the problem in recent weeks.
“We have to do everything we possibly can here,” Garland told lawmakers. “This is a very, very serious threat.” Continue reading “Article: US Attorney General Warns Ransomware ‘Getting Worse and Worse’”
Are the big meatpackers corrupt? Growing consensus in Congress
David Murray, 08 June 2021
A different decade, a new administration, a shuffle in Congressional leadership. Much has changed across the U.S. political landscape in the last several years, yet one concerning issue has lingered for nearly half a century … corporate concentration within the meatpacking industry.
“The time has come for the government to determine whether the stranglehold large meatpackers have over the beef processing market violate our antitrust laws and principles of fair competition,” states a recent congressional letter to U.S. Attorney General Merrick Garland. “… four large meat packing companies control over 80% of the processing market in today’s economy and are seemingly able to control prices at their will, or even defy expectations of market fundamentals. Continue reading “Article: Are the big meatpackers corrupt? Growing consensus in Congress”
Special Counsel Spends $1.5 Million in Probe of Russia Inquiry
Chris Strohm, 28 May 2021
The U.S. Justice Department released the first official expenditure report for the special investigation into the origins of the FBI’s Russia inquiry — providing a rare bit of insight into the secretive review more than two years after it was begun in response to demands by then-President Donald Trump.
The inquiry being led by Special Counsel John Durham spent about $1.5 million from Oct. 19 to March 31, according to the report from the Justice Department released Thursday. Of that, Durham directly spent about $934,000, mostly on personnel, while Justice Department units spent about $520,000 to support the investigation, according to the five-page report. Continue reading “Article: Special Counsel Spends $1.5 Million in Probe of Russia Inquiry”
Local expert explains meatpacking industry concerns
Emily Tabar, 27 May 2021
DURANT, Okla. (KXII) – Oklahoma Governor Kevin Stitt released a letter last week about his concerns in the meatpacking industry. A local expert in the beef supply chain explains those concerns and what they hope to see change.
If you’re headed to the grocery store this memorial day weekend, expect to pay more at the meat counter. “We’ve let it go on for too long, and now we’re at the point now, it’s become a huge problem,” said Jeff Hazaleus, owner of Durant Stockyards.
Hazaleus said market manipulation by meatpackers has gone on for a while, but has become more clear this past year. Continue reading “Article: Local expert explains meatpacking industry concerns”
Senators Call For Investigation Into Packer Market Manipulation
wnax, 21 May 2021
Senators Mike Rounds of South Dakota and Tina Smith of Minnesota are asking Attorney General Merrick Garland to examine whether the control large meatpackers have over the beef processing market violates U.S. antitrust laws and principles of fair competition. They wrote a letter to the AG this week and are inviting all members of Congress to join them. This isn’t the first investigation on this issue, but Rounds says both producers and consumers are at the center of this examination.
Two similar DOJ investigations are still underway with no results. However, Senator Rounds says they have evidence those are moving forward and are calling for action from the AG’s office if there is proof of wrongdoing. He thinks there is a better chance of getting some action under this AG and administration. Continue reading “Article: Senators Call For Investigation Into Packer Market Manipulation”
How to Actually Prosecute the Financial Crimes of the Very Rich
PAUL E. PELLETIER, 19 May 2021
It was tax season 1999. I was a federal economic-crimes prosecutor in Miami, and this was the time of year my colleagues and I brought cases to deter would-be tax cheats. My target was a tax-return preparer operating out of Liberty City’s “Pork & Beans” projects, made famous in the movie Moonlight. This tax preparer had been manufacturing false W-2s and Social Security numbers so that her clients would receive an earned-income tax credit to which they weren’t entitled—amounting to more than $100,000 in bogus refunds. She eventually pleaded guilty and spent nearly three years in prison, which at the time I considered a broadly just result. She had committed a real crime against the United States. Continue reading “Article: How to Actually Prosecute the Financial Crimes of the Very Rich”
Credit Suisse Pressed by Senator on $200 Million Tax Fraud
David Voreacos, 27 April 2021
Credit Suisse Group AG, already under pressure for losing $5.5 billion in the collapse of Archegos Capital Management, must now answer questions from a powerful U.S. senator about a seven-year-old tax evasion scandal.
Senate Finance Committee Chairman Ron Wyden wrote Tuesday to Credit Suisse and the Justice Department, asking their leaders to explain how the lender’s banking unit could have pleaded guilty in May 2014 to enabling U.S. tax evasion but failed to disclose more than $200 million in accounts held by an American.
Wyden asked Credit Suisse Chief Executive Thomas Gottstein and Attorney General Merrick Garland about the bank’s handling of accounts held by former business professor Dan Horsky. After whistle-blowers told the Justice Department about the accounts in July 2014, Internal Revenue Service agents approached Horsky in 2015. He cooperated with U.S. authorities and pleaded guilty to tax fraud in 2016. Continue reading “Article: Credit Suisse Pressed by Senator on $200 Million Tax Fraud”
Five ways Biden could crack down on dirty money and financial secrecy
Brenda Medina, 01 April 2021
Early rhetoric from the Biden administration has encouraged anti-corruption advocates that the new president’s tenure in the White House may mark a turning point in the fight against dirty money and tax haven abuse — two overlapping problems made worse by a veil of secrecy that shields vast sums of money from tax collectors and law enforcement authorities.
“We will crack down on tax havens and illicit financing that contribute to income inequality, fund terrorism, and generate pernicious foreign influence,” the administration’s Interim National Security Strategic Guidance, released last month, says, identifying the fight against global corruption as a top security priority. The strategy mirrors promises Joe Biden made during his candidacy.
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