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July 7th - According to the Jerusalem Post, US President Trump stated on Monday that US-Iran negotiations are close to reaching an agreement, but if the negotiations fail, the US will "finish the job." He claimed that the US has the capability to destroy all of Irans key infrastructure, including its power grids, power plants, and bridges, "in less than an afternoon," but prefers to resolve the issue through an agreement to avoid impacting Irans 91 million people. He reiterated that Iran must not possess nuclear weapons, and that the US will acquire Irans enriched nuclear materials, emphasizing that the goal is not regime change. Trump also claimed that the US military has destroyed all 159 Iranian ships, all military aircraft, and radar systems. Regarding oil prices, President Trump stated, "Oil prices are currently lower than before the war (in terms of per barrel). The US military secretly escorted oil tankers through the Strait of Hormuz during its blockade, successfully maintaining global crude oil supply and preventing oil prices from soaring to $300 to $350 per barrel."French presidential palace: Macron will call on Syria to play a role in "easing tensions in the Middle East".French presidential palace: Macrons visit to Syria will include discussions on reconstruction.According to Reuters, data shows that U.S. strategic petroleum reserve (SPR) crude oil inventories fell by about 6.2 million barrels last week to 319.5 million barrels, the lowest level since 1983.The Dutch Defense Minister announced that the Netherlands will announce defense procurement agreements and joint projects totaling over €3 billion at the NATO forum on Tuesday. An air defense partnership with Belgium and a naval ship cooperation project with the United Kingdom will also be announced at the event.

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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