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On December 7, the African Union (AU) and the Economic Community of West African States (ECOWAS) issued separate statements strongly condemning the attempted coup in Benin that day. The AU statement said that any form of military intervention in a political process is a serious violation of the AUs fundamental principles and values. AU Commission Chairperson Yusuf called on all those involved in the coup attempt to immediately cease all illegal actions and fully comply with the Benin Constitution. The ECOWAS statement said that the coup attempt violated the Benin Constitution, and ECOWAS commended the Benin government and its armed forces for their efforts to control the situation.French President Macron: Monetary policy should take into account employment and economic growth.On December 7th, Ukrainian President Volodymyr Zelenskyy posted on his official social media platform that Russia had launched over 1,600 drones, approximately 1,200 guided-missile bombs, and nearly 70 missiles of various types at Ukraine this week alone. Zelenskyy stated that on the 7th, the Russian military attacked Ukraine with over 240 drones and 5 ballistic missiles. Seven regions in Ukraine were damaged, with casualties reported in some areas. He indicated that Ukraine continues to cooperate with its partners to strengthen its defenses. Currently, Russia has not responded to this.The Russian Ministry of Defense stated that Russian forces launched a coordinated attack last night on Ukraines transportation infrastructure, fuel and energy facilities, and long-range drone bases.According to RIA Novosti: Russian troops have occupied Kucherivka in the Kharkiv region of Ukraine.

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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