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IMF sees recent yen falls as reflecting fundamentals
IMF sees recent yen falls as reflecting fundamentals
By Leika Kihara MARRAKECH, Morocco (Reuters) -The yen's recent declines are driven by fundamentals and do not meet any of
2023-10-15 00:34
Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelines
Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelines
The Federal Reserve is poised to leave its key interest rate unchanged at a time when the Fed faces an economy that has proved resilient but is nevertheless under pressure from surging interest rates, overseas turmoil and anxious investors
2023-10-31 18:00
George Santos pleads not guilty to duping donors, stealing campaign cash to burnish wealthy image
George Santos pleads not guilty to duping donors, stealing campaign cash to burnish wealthy image
U.S. Rep. George Santos, the New York Republican infamous for fabricating his life story, pleaded not guilty Wednesday to charges he duped donors, stole from his campaign and lied to Congress about being a millionaire, all while cheating to collect unemployment benefits he didn't deserve. Afterward, he said wouldn't drop his reelection bid, defying calls to resign. Santos' 13-count federal indictment was a reckoning for a web of fraud and deceit that prosecutors say overlapped with his fantastical public image as a wealthy businessman — a fictional biography that began to unravel after he won election last fall. Santos, 34, was released on $500,000 bond following his arraignment, about five hours after turning himself in to authorities on Long Island to face charges of wire fraud, money laundering, theft of public funds and making false statements to Congress. He could face up to 20 years in prison if convicted. “This is the beginning of the ability for me to address and defend myself,” Santos told reporters afterward, vowing to clear his name and calling his prosecution a “witch hunt.” Santos had said little during his arraignment, which lasted about 15 minutes. His lawyer, Joseph Murray, asked the judge for permission for Santos to travel freely for his campaign, though he did surrender his passport. Santos said he was returning to Washington for votes Thursday. Among the allegations, prosecutors say Santos induced supporters to donate to a company under the false pretense that the money would be used to support his campaign. Instead, they say, he used the money for personal expenses, including designer clothes and his credit card and car payments. Santos also is accused of lying about his finances on congressional disclosure forms and applying for and receiving unemployment benefits while he was employed as regional director of an investment firm that the government shut down in 2021 over allegations that it was a Ponzi scheme. The indictment “seeks to hold Santos accountable for various alleged fraudulent schemes and brazen misrepresentations,” U.S. Attorney Breon Peace said. “Taken together, the allegations in the indictment charge Santos with relying on repeated dishonesty and deception to ascend to the halls of Congress and enrich himself." Reached by The Associated Press on Tuesday, Santos said he was unaware of the charges. Santos has defied calls to resign — some from fellow Republicans — as details of his fictitious resume came to light, though he did decline his committee assignments. He has given no indication that he plans to step aside because of his indictment. In the past, members of Congress in both parties have remained in office while facing charges. Santos, 34, was elected to Congress last fall after a campaign built partly on falsehoods. He told people he was a wealthy Wall Street dealmaker with a substantial real estate portfolio who had been a star volleyball player in college, among other things. In reality, Santos didn't work at the big financial firms he claimed had employed him, didn't go to college and struggled financially before his run for public office. He claimed he fueled his run largely with self-made riches, earned from brokering deals on expensive toys for wealthy clients, but the indictment alleges those boasts were also exaggerated. In regulatory filings, Santos claimed he loaned his campaign and related political action committees more than $750,000, but it was unclear how he would have come into that kind of wealth so quickly after years in which he struggled to pay his rent and faced multiple eviction proceedings. In a financial disclosure form, Santos reported making $750,000 a year from a family company, the Devolder Organization, but the charges unsealed Wednesday allege that Santos never received that sum, nor the $1 million and $5 million in dividends he listed as coming from the firm. Santos has described the Devolder Organization as a broker for sales of luxury items like yachts and aircraft. The business was incorporated in Florida shortly after Santos stopped working as a salesman for Harbor City Capital, the company accused by federal authorities of operating an illegal Ponzi scheme. In November 2021, Santos formed Redstone Strategies, a Florida company that federal prosecutors say he used to dupe donors into financing his lifestyle. According to the indictment, Santos told an associate to solicit contributions to the company and gave the person contact information for potential donors. Emails to prospective donors falsely claimed that the company was formed “exclusively” to aid Santos’ election bid and that there would be no limits on how much they could contribute, the indictment said. Santos falsely claimed that the money would be spent on television ads and other campaign expenses, it said. Last October, a month before his election, Santos transferred about $74,000 from company coffers to bank accounts he maintained, the indictment said. He also transferred money to some of his associates, it said. Many of Santos' fellow New York Republicans called on him to resign after his fabricated life story was revealed. Some renewed those calls after news of his indictment. "Sooner or later, whether he chooses to or not, both the truth and justice will be delivered to him,” said U.S. Rep. Marc Molinaro, a Republican representing parts of upstate New York. Sen. Mitt Romney, a Utah Republican who confronted Santos at President Joe Biden's State of the Union address in February, said Santos should have resigned a long time ago. “I think we’re seeing that the wheels of justice grind slow, but they grind fine,” Romney said. House Republican leaders Kevin McCarthy and Steve Scalise were more circumspect, saying Santos deserved a presumption of innocence until proven guilty. Santos has faced criminal investigations before. When he was 19, he was the subject of a criminal investigation in Brazil over allegations he used stolen checks to buy items at a clothing shop. Brazilian authorities said they have reopened the case. In 2017, Santos was charged with theft in Pennsylvania after authorities said he used thousands of dollars in fraudulent checks to buy puppies from dog breeders. That case was dismissed after Santos claimed his checkbook had been stolen, and that someone else had taken the dogs. Federal authorities have separately been looking into complaints about Santos' work raising money for a group that purported to help neglected and abused pets. One New Jersey veteran accused Santos of failing to deliver $3,000 he had raised to help his pet dog get a needed surgery. ___ Farnoush Amiri in Washington and Alanna Durkin Richer in Boston contributed to this report. ___ On Twitter, follow Jake Offenhartz at twitter.com/jangelooff and Michael Sisak at twitter.com/mikesisak and send confidential tips by visiting https://www.ap.org/tips/ ___ Follow the AP's coverage of U.S. Rep. George Santos at https://apnews.com/hub/george-santos. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide Kevin McCarthy says he won’t support George Santos’s re-election bid after all The 13 counts New York representative George Santos faces McCarthy says he will not back George Santos re-election bid after arrest – live
1970-01-01 08:00
BHP says Brazilian court approves Samarco debt reorganisation plan
BHP says Brazilian court approves Samarco debt reorganisation plan
Australian mining giant BHP on Monday said a Brazilian court had approved the reorganisation plan for its Samarco
2023-09-04 07:12
Top Cubs prospect relishes conversation with Ken Griffey Jr. during Futures Game
Top Cubs prospect relishes conversation with Ken Griffey Jr. during Futures Game
Pete Crow-Armstrong is considered the top prospect in the Chicago Cubs system and one of the top prospects in baseball
2023-07-09 10:56
How to clean your sex toys, according to three experts
How to clean your sex toys, according to three experts
Whether you've just purchased your first vibrator or you're a seasoned dildo user, it's important
2023-08-03 20:59
Dealmakers see rebound after US activity buoys global M&A volumes
Dealmakers see rebound after US activity buoys global M&A volumes
By Anirban Sen and Anousha Sakoui NEW YORK Mergers and acquisitions activity globally showed few signs of improvement
2023-09-29 22:32
Discounts Make a Comeback as Shoppers Get Picky About Spending
Discounts Make a Comeback as Shoppers Get Picky About Spending
US shoppers are getting increasingly hesitant about shelling out for shoes, appliances and other nonessentials. That has more
2023-08-27 22:00
Breakfast Index Falls for the First Time as UK Food Costs Ease
Breakfast Index Falls for the First Time as UK Food Costs Ease
A full English breakfast has got cheaper for the first time since Bloomberg started an index measuring the
2023-06-22 12:00
Nepal honors Sherpa guides, climbers to mark 70th anniversary of Mount Everest conquest
Nepal honors Sherpa guides, climbers to mark 70th anniversary of Mount Everest conquest
Nepal’s government is honoring record-holding climbers during celebrations of the first ascent of Mount Everest 70 years ago
2023-05-29 14:27
Pakistan Latest: Imran Khan Faces Court Amid Tight Security
Pakistan Latest: Imran Khan Faces Court Amid Tight Security
Pakistan’s former premier Imran Khan will appear at an anti-graft tribunal Wednesday after his dramatic arrest led to
1970-01-01 08:00
Warzone TikToker Shows Off Disgusting Blixen Loadout
Warzone TikToker Shows Off Disgusting Blixen Loadout
It's no question that a good SMG can get you a long way in Warzone. Since the beginning, SMGs have
1970-01-01 08:00