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U.S. Authorities Charge 3 Crypto Companies, 15 Individuals in Major Fraud Crackdown

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U.S. Authorities Charge 3 Crypto Companies, 15 Individuals in Major Fraud Crackdown

U.S. federal prosecutors in Boston have unveiled charges against three cryptocurrency companies and 15 individuals in a sweeping crackdown on digital asset fraud and market manipulation. The investigation, which led to four arrests and agreements by five people to plead guilty, also resulted in the seizure of over $25 million worth of cryptocurrency.

Acting U.S. Attorney Joshua Levy announced that the defendants, associated with firms Gotbit, ZM Quant, CLS Global, and others, engaged in sham trades to artificially inflate the trading volume of various cryptocurrency tokens before selling them off, leaving unsuspecting investors with significant losses.

“This is a case where new age technology, crypto, meets an old school fraud, in this case a ‘pump and dump’ scheme, which is as old as the stock markets,” Levy told reporters.

In a groundbreaking move, the FBI directed the creation of a cryptocurrency company, NexFundAI, with its own token on the Ethereum blockchain. This decoy was used to lure ZM Quant, CLS Global, and another company, MyTrade, into agreeing to help manipulate its value. Authorities closely monitored the token’s trading to minimize risk to retail investors before disabling transactions.

Among those charged is Manpreet Kohli, CEO of Saitama, arrested in the United Kingdom. Saitama, the largest company implicated, allegedly reached a market value of $7.5 billion through manipulative practices. Five other current or former Saitama employees face charges, with three already pleading guilty.

Aleksei Andriunin, CEO of Gotbit, a cryptocurrency “market maker,” was arrested in Portugal. Prosecutors allege that from 2018 to 2024, Gotbit engaged in “wash trading” and market manipulation for several cryptocurrency clients.

Other notable individuals charged include Liu Zhou, founder of market maker MyTrade, who has agreed to plead guilty; Riqui Liu and Baijun Ou of ZM Quant, based in the United Kingdom and Hong Kong; Andrey Zhorzhes of CLS Global, residing in the United Arab Emirates; Michael Thompson of Virginia, associated with VZZN; and Bradley Beatty of Florida, accused of fraudulently promoting Lillian Finance.

The U.S. Securities and Exchange Commission has filed related civil cases in conjunction with the criminal charges.

U.S. Imposes Visa Bans on Former Ecuadorian President Correa and Vice President Over Corruption

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U.S. Imposes Visa Bans on Former Ecuadorian President Correa and Vice President Over Corruption

The Biden administration announced on Wednesday that it has imposed visa bans on former Ecuadorian President Rafael Correa, his vice president Jorge Glas, and their immediate family members due to corruption allegations.

Former Ecuadorian President Rafael Correa

State Department spokesman Matthew Miller stated that Correa and Glas “abused their positions as former president of Ecuador and former vice president of Ecuador, respectively, by accepting bribes, including through political contributions, in exchange for granting favorable government contracts.”

The visa restrictions extend to the former leaders’ spouses and children, effectively barring them from entering the United States. This move aligns with the Biden administration’s efforts to combat corruption globally and support transparency in governance.

Correa, who served as Ecuador’s president from 2007 to 2017, has been living in exile in Belgium since 2017. In 2020, he was convicted in absentia on corruption charges in Ecuador and sentenced to eight years in prison. During his presidency, Correa often adopted political positions that conflicted with U.S. policies, notably granting asylum to Wikileaks founder Julian Assange at Ecuador’s London embassy while Assange was wanted by the United States.

Miller emphasized the United States’ support for Ecuadorians committed to increasing government transparency and holding corrupt public officials accountable, including civil society members, law enforcement, and investigative journalists.

Mozambique Tallies Votes in Presidential Election Amid Opposition Fraud Claims

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Mozambique Tallies Votes in Presidential Election Amid Opposition Fraud Claims

Mozambique commenced vote counting late Wednesday in a presidential election that could extend the ruling Frelimo party’s 49-year grip on power, even as opposition candidates raised allegations of fraud and manipulation.

The election pits Daniel Chapo, 47, the Frelimo candidate seeking to succeed term-limited President Filipe Nyusi, against three challengers. Independent candidate Venancio Mondlane, 50, has emerged as the strongest contender, galvanizing support among disaffected youth in the resource-rich but economically challenged nation.

Mondlane, along with other opposition candidates, voiced concerns over the election’s fairness. They claimed ballot boxes were unsealed before voting concluded and that some of their delegates were denied accreditation to monitor the voting process. “I trust the electoral process, but not the people deployed to run the election,” Mondlane stated.

Frelimo, which has governed Mozambique since independence from Portugal in 1975, has consistently denied allegations of electoral tampering. The party is expected to face increased scrutiny in this election, with teams of regional and international observers, including delegations from the European Union and African Union, monitoring the process.

Approximately 17 million registered voters cast ballots for the presidency, parliament, and provincial governors. The election’s credibility is under close watch, given Frelimo’s history of alleged ballot-stuffing and result falsification in previous votes, including last year’s local elections.

Borges Nhamire, an analyst at the Institute for Security Studies in South Africa, cautioned, “In Mozambique, the person who is declared the winner is not always the winner at the polls.”

The election takes place against a backdrop of ongoing challenges, including a violent jihadist insurgency in the northern Cabo Delgado province, which has disrupted a multibillion-dollar natural gas project. Both leading candidates have pledged to end the seven-year insurgency and bring stability to the region.

Chapo, a law professor and former governor of Inhambane province, would become Mozambique’s first leader born after independence if elected. He praised Mozambicans for a peaceful campaign period as he cast his vote in Inhambane.

Mondlane, who broke away from the opposition Renamo party, has drawn large crowds at his rallies, presenting a new challenge to Frelimo’s traditional dominance in national elections. His campaign has focused on addressing unemployment and economic instability, resonating with many young voters.

As counting began, 69-year-old voter Baptista Antonio expressed hope for the country’s future: “All Mozambicans have high hopes from the new president. I was born during the colonial era and saw many transformations of the country, from wars to development, and all I can say is it’s a work in progress. There are many challenges ahead.”

The Constitutional Council has 15 days to validate and formally declare the results. The outcome of this election could significantly impact Mozambique’s political landscape and its approach to addressing long-standing economic and security challenges.

apnews.com

Israeli Defense Minister Warns of ‘Lethal’ Response to Iran

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Israeli Defense Minister Warns of ‘Lethal’ Response to Iran

Israeli Defense Minister Yoav Gallant issued a stark warning on Wednesday, promising a “lethal” and “surprising” retaliation against Iran for its recent missile attack. The statement comes as Israel continues large-scale military operations in northern Gaza and escalates its ground offensive against Hezbollah militants in Lebanon.

Gallant, addressing troops, declared, “Our strike will be lethal, precise and above all, surprising. They won’t understand what happened and how. They will see the results.” His comments follow Iran’s October 1 missile barrage against Israel, which was largely thwarted with U.S. assistance.

On the diplomatic front, Israeli Prime Minister Benjamin Netanyahu and U.S. President Joe Biden held their first phone call in seven weeks. The White House reported that the call included discussions on Israel’s deliberations regarding its response to Iran’s attack.

The ongoing violence stems from Hamas’ October 7, 2023, attack on southern Israel, which has led to a cycle of destruction and death in Gaza. Israel is now expanding its week-long ground offensive against Hezbollah in Lebanon while considering a major retaliatory strike on Iran.

In northern Israel, Hezbollah claimed responsibility for a rocket attack that killed two civilians in Kiryat Shmona. The town’s acting mayor, Ofir Yehezkeli, confirmed that the victims were a couple walking their dogs.

Meanwhile, in northern Gaza, intense fighting continues in Jabaliya, an urban refugee camp dating back to 1948. Residents report being trapped in their homes since Sunday, with Israeli forces battling militants in the streets. Mohamed Awda, a local resident, described the situation as “like hell,” with drones and jets constantly overhead.

Gaza’s Health Ministry reported recovering 54 bodies from Jabaliya and surrounding areas since Sunday, with fears of more casualties in inaccessible areas. The ongoing offensive has raised concerns among residents about potential forced displacement and long-term Israeli control of northern Gaza.

Hurricane Milton Batters Florida’s West Coast with Category 3 Winds and Rain

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Hurricane Milton Batters Florida’s West Coast with Category 3 Winds and Rain

Hurricane Milton, a powerful Category 3 storm, is unleashing torrential rain, spawning tornadoes, and pummeling Florida’s west coast with tropical storm-force winds as it makes landfall Wednesday evening. Emergency officials are urging residents who have not yet evacuated to shelter in place, warning that first responders may be unable to assist until conditions improve.

As of 7 p.m. EDT, the U.S. National Hurricane Center reported that Milton was centered approximately 35 miles (50 kilometers) west-southwest of Sarasota, Florida. The storm’s maximum sustained winds reached 120 mph (195 kph), with Milton moving northeast at 15 mph (28 kph), slightly slower than earlier in the afternoon.

“The northern eyewall of Hurricane Milton is beginning to move onshore of the Florida gulf coast near Tampa and St. Petersburg where an Extreme Wind Warning is now in effect,” the hurricane center stated in its latest advisory. “Please shelter in place as these extremely dangerous hurricane-force winds overspread the region.”

The approach of Milton has presented difficult decisions for coastal residents like Jackie Curnick, 32, of Sarasota. Curnick, who is expecting a baby girl on October 29, decided to stay home with her husband and 2-year-old son after struggling to find affordable and available hotel accommodations.

“The thing is it’s so difficult to evacuate in a peninsula,” Curnick explained. “In most other states, you can go in any direction to get out. In Florida, there are only so many roads that take you north or south.”

Curnick’s dilemma highlights the unique challenges faced by Florida residents during hurricane evacuations, with limited escape routes often leading to traffic congestion and fuel shortages.

As Milton continues to batter the coast, authorities are emphasizing the importance of heeding local warnings and staying informed about rapidly changing conditions. The storm’s impact is expected to be felt well inland, with the potential for widespread power outages, flooding, and wind damage across a large swath of the state.

Emergency management officials are preparing for a potentially prolonged recovery effort, with concerns about storm surge, inland flooding, and infrastructure damage in the hurricane’s wake. Residents are advised to have emergency supplies on hand and to follow official guidance as the situation evolves.

England Faces Greece in UEFA Nations League Clash at Wembley

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England Faces Greece in UEFA Nations League Clash at Wembley

England and Greece are set to face off in a top-of-the-table UEFA Nations League clash at Wembley Stadium on Thursday evening, with both teams looking to maintain their perfect starts in League B Group 2.

Interim England manager Lee Carsley aims for his third consecutive victory since taking charge, while Greece’s new head coach Ivan Jovanovic seeks to continue his impressive start after two wins in September.

England, under Carsley’s guidance, secured 2-0 victories against both Ireland and Finland last month. The caretaker manager now has a chance to become the first England boss to win his first three games without conceding, and the first to win his opening three matches overall since Fabio Capello in 2008.

Greece leads the group on goal difference, having defeated Finland 3-0 and Ireland 2-0 in their opening fixtures. The 2004 European champions are pursuing their 14th Nations League victory, the most of any country since the tournament’s inception.

Team selection for both sides is complicated by injury concerns. England captain Harry Kane trained individually on Wednesday following an injury scare with Bayern Munich, leaving his participation in doubt. If Kane is rested, Aston Villa’s Ollie Watkins or Bournemouth’s Dominic Solanke could lead the attack.

Greece has suffered a significant setback with the absence of in-form striker Fotis Ioannidis, who scored three goals in September’s matches but is sidelined due to injury. Benfica’s summer signing Vangelis Pavlidis is expected to spearhead the Greek attack in his absence.

England’s squad has been bolstered by the returns of Kyle Walker, Phil Foden, Jude Bellingham, and Cole Palmer, all of whom missed September’s fixtures. However, Jack Grealish is a new injury doubt after missing training on Wednesday.

The historical head-to-head favors England, who are unbeaten in their last nine encounters with Greece. Their most recent meeting, a 2006 friendly, saw England triumph 4-0.

As both teams vie for supremacy in the group and a potential promotion to League A, this match carries significant implications for their Nations League campaigns and the trajectory of their new managerial eras.

Turkey Blocks Access to Discord Messaging Platform Over Criminal Content Concerns

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Turkey Blocks Access to Discord Messaging Platform Over Criminal Content Concerns

Turkey’s telecommunications authority blocked access to the popular messaging platform Discord on Wednesday, citing the company’s refusal to share information about alleged criminal content.

Justice Minister Yilmaz Tunc announced that an Ankara court ordered the ban due to “sufficient suspicion” that Discord was being used to commit crimes related to “child sexual abuse and obscenity.” Tunc emphasized the government’s determination to protect young people from harmful online content.

The ban follows public outrage over the recent killing of two women by a 19-year-old man in Istanbul. Turkish media reported that some Discord users had praised the killings in the aftermath of the incident.

Transportation and Infrastructure Minister Abdulkadir Uraloglu explained that Discord’s nature makes it challenging for authorities to monitor and intervene when illegal content is shared. “Since Discord refuses to share its own information, including IP addresses and content, with our security units, we were forced to block access,” Uraloglu stated.

The move comes just a day after Russia’s telecom watchdog announced a similar ban on Discord, citing concerns about terrorist and extremist activities on the platform.

Discord, a US-based social media platform with approximately 150 million users, is particularly popular among video game enthusiasts. The company acknowledged the reports of inaccessibility in Russia and Turkey, stating that their team is investigating the situation.

This is not the first time Turkey has taken action against social media platforms. In August, the country banned access to the video game platform Roblox, citing content harmful to children. Turkey has also previously blocked access to Instagram for several days.

The Discord ban highlights ongoing tensions between social media companies and governments over content moderation, user privacy, and national security concerns. As Turkey continues to tighten its grip on online platforms, the move raises questions about digital rights and freedom of expression in the country.

Kenya’s Senate to Consider Impeachment of Deputy President Rigathi Gachagua

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Kenya’s Senate to Consider Impeachment of Deputy President Rigathi Gachagua

Kenya’s Senate is poised to debate the potential dismissal of Deputy President Rigathi Gachagua next week, following a decisive vote by the national assembly to impeach him, Senate Speaker Amason Kingi announced on Wednesday.

The national assembly voted 281 to 44 late Tuesday to impeach Gachagua, with one abstention, far exceeding the two-thirds majority required to advance the motion to the Senate. Kingi stated that the Senate would investigate the allegations against Gachagua on Wednesday and Thursday of next week.

Gachagua faces 11 charges, including allegations of self-enrichment and inciting ethnic hatred, all of which he vehemently denies. The deputy president dismissed the impeachment process as a “theatre of the absurd.”

The political crisis stems from a growing rift between Gachagua and President William Ruto, whom he supported in the 2022 election. Tensions escalated following deadly protests earlier this year against proposed tax increases and rising living costs.

Gachagua sparked controversy within Ruto’s coalition by comparing the government to a company and suggesting that coalition voters should have priority for public-sector jobs and development projects.

The impeachment proceedings have divided public opinion in Kenya. Some citizens argue that parliament should prioritize economic issues over political maneuvering, while others call for both Ruto and Gachagua to step down.

Melissa Kagondu, a beauty product vendor, expressed frustration with the current leadership, stating, “They should both be removed. After two years there has been no positive effect. We have had more crises. They came as a package so they should leave as a package.”

Robert Shaw, a Nairobi-based analyst, warned that the impeachment could further destabilize Kenya’s economy, which is already reeling from protests in June and July. “It is bound to get worse, if I was an investor, I would be literally be looking at how to consolidate my position ready for a storm,” Shaw told Reuters.

If at least two-thirds of the Senate vote to uphold the impeachment, Gachagua will be removed from office. President Ruto has not yet commented publicly on the proceedings against his deputy.

The political turmoil unfolds as Kenya grapples with economic challenges and social unrest, raising concerns about the country’s stability and governance in the coming months.

Mozambique Holds Presidential Election as Ruling Party Seeks to Extend 49-Year Reign

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Mozambique Holds Presidential Election as Ruling Party Seeks to Extend 49-Year Reign

Mozambicans headed to the polls on Wednesday to elect a new president and parliament in a vote that could extend the ruling Frelimo party’s 49-year grip on power since the country gained independence from Portugal in 1975.

Daniel Chapo, 47, the Frelimo candidate, is seeking to succeed term-limited President Filipe Nyusi. Chapo, a former law professor and provincial governor, would become Mozambique’s first leader born after independence if elected.

The strongest challenge to Frelimo’s dominance is expected to come from Venancio Mondlane, a 50-year-old independent candidate who has galvanized support among young voters frustrated with poverty and unemployment. Mondlane, formerly aligned with the opposition Renamo party, is now backed by a new party called Podemos (“we can” in Portuguese).

Two other candidates are also vying for the presidency: Ossufo Momade of Renamo and Lutero Simango of the Mozambique Democratic Movement, though both are considered longshots.

Approximately 17 million registered voters will also elect members of parliament and provincial governors. Polling stations opened early Wednesday morning, with vote-counting set to begin immediately after polls close. Preliminary results from some areas are expected Thursday, but final results must be delivered to the Constitutional Council within 15 days for validation.

Key issues in the election include ending the ongoing jihadist insurgency in the northern Cabo Delgado province, where 1.3 million people have been displaced, as well as addressing poverty, youth unemployment, and government corruption.

At a polling station in Maputo, 35-year-old Felicidade Simao expressed hope for change: “I am still selling biscuits at a vegetable market here in Maputo to take care of my two children. My husband is unemployed and we are struggling. I want the best for my children and the winner of this election must make the dream of a better life in the future.”

The election’s credibility is under scrutiny, with Frelimo accused of ballot-stuffing and falsifying results in previous votes, allegations the party consistently denies. International observers, including a team from the European Union, are monitoring the process.

Frelimo has dominated Mozambican politics since independence, fighting a 15-year civil war against Renamo before the country’s first multi-party elections in 1994. Despite a 2019 peace deal, tensions between the former warring parties persist.

Most analysts expect Frelimo to retain power, though potentially with a reduced majority. The Pangea risk consultancy noted that Chapo’s candidacy has been “carefully stage managed” by the party.

Mozambique faces significant challenges, including recovery from recent cyclones, ongoing drought in southern Africa affecting food security, and fallout from a $2 billion government embezzlement scandal uncovered in 2016.

As the country awaits election results, the outcome will shape Mozambique’s approach to its myriad economic and security challenges in the coming years.

Turkish Airlines Pilot Dies Mid-Flight, Forcing Emergency Landing in New York

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Turkish Airlines Pilot Dies Mid-Flight, Forcing Emergency Landing in New York

A Turkish Airlines flight from Seattle to Istanbul was forced to make an emergency landing at New York’s John F. Kennedy International Airport after the captain, İlçehin Pehlivan, died mid-flight.

The incident occurred during a 12-hour flight on Tuesday evening when Captain Pehlivan, 59, suddenly fainted while piloting the Airbus A350. The co-pilots onboard quickly took control of the aircraft and diverted the flight to New York.

According to flight tracking website FlightRadar24, the plane was flying north over Canada when it abruptly changed course over Baffin Island, heading towards JFK Airport.

Turkish Airlines confirmed that Captain Pehlivan had been with the airline since 2007 and had passed a medical examination in March. Despite attempts to administer first aid, the captain was pronounced dead before the plane landed.

A spokesperson for Turkish Airlines stated on social media platform X: “After an unsuccessful attempt to give first aid, the flight crew of another pilot and a co-pilot decided to make an emergency landing, but he died before landing. We wish Allah’s mercy upon our captain and patience to his grieving family, all his colleagues and loved ones.”

Passengers affected by the emergency landing will be rerouted to Istanbul from New York, the airline confirmed.

While rare, in-flight pilot deaths are not unprecedented. In August 2023, a LATAM Airlines captain died in the aircraft toilet during a flight from Miami to Santiago. Similarly, that same month, a 40-year-old pilot collapsed and died at the boarding gate in Pune, India, just before a scheduled flight to Nagpur.

The successful emergency landing at JFK demonstrates the professionalism and quick thinking of the co-pilots in a high-stress situation, ensuring the safety of all passengers and crew aboard the flight.

As investigations into the cause of Captain Pehlivan’s death continue, the aviation industry will likely review and reinforce health screening procedures for pilots to prevent similar incidents in the future.

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