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A recent ABC/Washington Post/Ipsos poll shows Trumps disapproval rating has reached 62%, the highest in his two terms.On May 3, OPEC issued a statement announcing that the seven OPEC+ countries (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman) will hold an online meeting on May 3, 2026, to review the global market situation and outlook. The seven participating countries decided to implement a production adjustment of 188,000 barrels per day, on top of the additional voluntary adjustments announced in April 2023. This adjustment will be implemented in June 2026. The seven countries will meet again on June 7.On May 3, local time, Russian Presidential Press Secretary Dmitry Peskov stated that if Ukraine is unwilling to reach an agreement, Russia will use sustained and intensified military action until a "victory" is achieved to force it to accept it. Peskov emphasized that achieving the goal through a peace agreement—namely, resolving the Ukrainian issue through negotiations—remains a priority for Russia. Peskov stated that despite facing a "serious energy crisis," Russias interests will be protected. He pointed out that Ukraines attacks on Russian oil infrastructure will trigger a greater oil shortage, while the resulting increase in fuel prices will actually boost the revenue of Russian companies and the national treasury.TankerTrackers: This is the second time Iraq has shipped fuel oil to Syria for export by sea. The first shipment was sent to Spain last week.TankerTrackers: According to Al Jazeera, Iraq is diverting fuel to Syria in search of reliable alternative oil export routes due to the closure of the Strait of Hormuz.

Ex-CFO pleads guilty to stealing from SPACs to trade meme stocks, cryptocurrencies

Skylar Shaw

Jan 04, 2023 14:13

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An ex-chief financial officer (CFO) of several special purpose acquisition companies (SPACs) pled guilty to stealing more than $5 million from them and losing almost all of it in joke stocks and cryptocurrencies.


Tuesday in federal court in Manhattan, Cooper Morgenthau, 35, of Fernandina Beach, Florida, entered a plea of guilty to one count of wire fraud. The judge was U.S. District Judge Paul Engelmayer.


When Morgenthau is sentenced on April 25, the suggested federal guidelines call for a jail term of between six and seven and a half years.


The U.S. Securities and Exchange Commission also resolved related civil allegations against him in exchange for his agreement to lose $5.11 million and pay an equivalent amount in restitution.


A representative for Morgenthau, Michael Bowen, refused to comment.


According to the authorities, Morgenthau stole more than $1.2 million from African Gold Acquisition Corp between June 2021 and August 2022, covered it up by fabricating account statements, and either spent it all in securities trading or lost it all.


The SEC said that Morgenthau then solicited $4.7 million from investors in SPACs known as Strategic Metals Acquisition Corp to make up for his losses, only to lose the majority of it in cryptocurrency trading.


African Gold, a New York-based company formed to purchase a gold mining company, raised $414 million in an IPO in February 2021.


According to the SEC, it dismissed Morgenthau in August of last year when he ran out of money and its suppliers refused to do business with him.


At the time, African Gold said that it fired Morgenthau after becoming aware of his "improper withdrawals" and efforts to hide them.


According to a statement from Manhattan U.S. Attorney Damian Williams, Morgenthau "confessed that he betrayed the trust that he owed to his public and private investors."


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