Media CFO Charged in $67M Crypto Fraud, Mexico Elects Female Jewish President

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In a significant development within the media and finance sectors, Bill Guan, the Chief Financial Officer of Epoch Times, has been charged by the U.S. Department of Justice with orchestrating a $67 million fraud scheme. This operation allegedly involved using cryptocurrency to launder money, which was then funneled into the company’s accounts, falsely inflating Epoch Times’ annual revenue. The charges, which include conspiring to commit money laundering and bank fraud, highlight the growing scrutiny of financial transactions within the cryptocurrency space and raise questions about the oversight of digital currencies in business operations.

Meanwhile, Mexico’s political landscape has undergone a historic transformation with the election of Claudia Sheinbaum as the country’s first female president, and notably, its first Jewish president. This milestone follows an election marred by violence, with 37 candidates assassinated, underscoring the challenges Sheinbaum faces in addressing cartel violence and economic issues. Her victory represents a significant moment for gender and cultural representation in Latin America, promising a new chapter in Mexico’s approach to its pressing social and economic challenges.

On the international economic front, the Bank of Japan’s monetary policy has come under the spotlight as its holdings of government securities show a slight decline amidst a depreciating yen and surging inflation. This situation has prompted calls for the bank to take more decisive action to support the yen and address the trade deficit. The economic strategies of central banks worldwide are in focus, as Federal Reserve Bank of Minneapolis President Neel Kashkari comments on the American public’s preference for tackling inflation, even at the risk of a recession. Kashkari’s remarks reflect a broader global concern over rising prices and the impact on living standards, highlighting the delicate balance central banks must strike in managing economic policy.

In the realm of finance and investment, the announcement of the Texas Stock Exchange (TXSE), backed by industry giants BlackRock and Citadel Securities, marks a significant development in the U.S. financial markets. Set to be based in Dallas, the TXSE aims to offer an alternative to traditional exchanges like the New York Stock Exchange and Nasdaq, focusing on exchange-traded products and addressing compliance costs and diversity targets. This move could reshape the landscape of equity trading, offering more choices for issuers and investors and fostering competition that benefits market transparency and liquidity.


Epoch Times CFO Charged With $67M Fraud Scheme Involving Crypto Platform

Epoch Times CFO Bill Guan was charged with participating in a scheme to launder $67 million in illicit funds to benefit himself and the company.

Source | Submitted by 0007

Mexico’s Bloodiest Election in Modern History Set to Give First Woman President

The election is likely to give Mexico its first woman president as voters decide between a former academic who is promising to advance the current leader’s populist policies and a former senator and tech entrepreneur who has pledged to escalate the fight against the drug cartels.

Source | Submitted by Congero1

Mexico Elects Claudia Sheinbaum as First Female and Jewish President

“The election of Claudia Sheinbaum as Mexico’s first female Jewish president is a benchmark for the Jews of Latin America, whose presence in the region goes back to the arrival of Columbus and his crew at the end of the 15th century.”

Source | Submitted by Congero1

Bank of Japan Ends QE as Yen Plummets: Too Little, Too Late?

The Bank of Japan is responding, but at a ridiculous snail’s pace.

Source | Submitted by rhollenb

Fed President: Americans Would Prefer a Recession Over Inflation

I have learned that the American people—and maybe people in Europe equally—really hate high inflation. I mean, really viscerally hate high inflation.

Source | Submitted by rhollenb

BlackRock and Citadel Securities-Backed TXSE Group to Launch Texas Stock Exchange

“TXSE will ultimately create more competition around quote activity, liquidity and transparency, resulting in more consistent and reliable markets that benefit investors, global issuers and liquidity providers alike,” Lee added.

Source | Submitted by JMSamuels