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Medill Illinois News Bureau CHICAGO – A state watchdog has identified at least $7.2 million in fraudulent claims and more than 275 instances of misconduct by state employees accused of bilking a federal program designed to help businesses during the COVID-19 pandemic. Since 2022, the Office of the Executive Inspector General has been investigating allegations that state employees fraudulently claimed Paycheck Protection Program loans for small businesses they didn’t disclose or entirely fabricated. State workers may engage in secondary employment, but only if it’s disclosed and permission is granted. Employees from 13 different state agencies are involved in the fraud and have illegally taken these federal public funds, according to the OEIG, which is charged with investigating allegations of misconduct within state government. As of April, more than 60% of those implicated to date worked for the Illinois Department of Human Services, which operates mental health hospitals and developmental centers across the state. The Paycheck Protection Program was an initiative established by the federal CARES Act in 2020. The Small Business Administration oversaw the implementation of the PPP to provide forgivable loans to cover payroll costs or other expenses for small businesses struggling during the COVID-19 pandemic. By October 2022, the program gave out $786 billion in loans and forgave 93% of them, according to the SBA. Quickly, PPP loans led to “unprecedented fraud levels,” according to the SBA inspector general. Applicants self-certified their small business status and income. The OEIG is investigating only public employees who received more than approximately $20,000 from the program. To receive a $20,000 loan, businesses investigated by the OEIG typically declared $100,000 or more of net profit or gross income on the loan application. The OEIG could not comment on whether this investigation was close to the end. Due to the sheer size of this fraud, investigations involve many different agencies. In May 2023, the Illinois legislature passed House Bill 3304, which allows criminal prosecutions for COVID-19 related fraud to start up to five years after authorities discover the fraud. Rep. Fred Crespo, D-Hoffman Estates, who filed the bill, said most of the routine checks such as cross-referencing data on the loan forms with other agency databases were suspended for this program. A large issue was also the lack of personnel. According to Crespo, between April 2020 and April 2022, the fraud hotline of the SBA received millions of calls, of which a large number went unanswered. “The vulnerabilities that led to the issues with PPP fraud weren’t really attributable to things at the state level. I would say that the issues had far more to do with the unaccountable nature of the program itself,” said State Rep. Mike Kelly, D-Chicago, who co-sponsored the bill. IDHS employees have been heavily involved in the fraud. Since 2022, at least 43 employees have been discharged and 53 resigned before further action by management. In most cases on the OEIG website, the employees either lied about being self-employed or provided false information about their income. Records show Deborah Reynolds-Jones was a human services caseworker who had been working for the IDHS since 2016. Reynolds-Jones told OEIG investigators that her barber recommended a company that could help her apply for the loan. She sent the company her personal information, including her Social Security number. The company filled out the form and simply asked her to sign. The information was inaccurate. Reynolds-Jones paid the company $3,000 for their service after she fraudulently received a $20,000 PPP loan. In another case, Shanythia Anderson admitted to the OEIG that she allowed a third party to apply for a PPP loan on her behalf and that the information provided was inaccurate. She began working as a mental health technician at IDHS in 2020. Anderson met a woman on Facebook, and she sent her personal records. In exchange for this service, the woman was to receive half of her loan, $10,000. Anderson worked at the Ludeman Development Center in Forest Park, where at least 36 other employees were accused of wrongdoing. “It happens that in one particular location when you find out there are 37 people that have done this, they’ve obviously been talking to one another at work,” Gov. JB Pritzker said in a news conference last year. “Maybe somebody committed this kind of fraud and then tried to convince somebody else.” IDHS declined to comment on why so many of its employees were implicated. IDHS is the largest public agency in Illinois, which could be one explanation. Crespo said that his best guess was that public employees had early access to the loan forms, so it was easier for them to understand how to file them, fraudulently or not. “While the vast majority of IDHS’ roughly 14,000 State employees are hard-working people of strong character who work tirelessly to help the most vulnerable, it is deeply concerning any time an employee takes advantage of public programs,” IDHS said in a statement. Other state agencies where the OEIG found multiple cases of PPP fraud included the Department of Corrections (31 cases), the Department of Children and Family Services (27), Pace (10) and the Department of Healthcare and Family Services (8). The OEIG, through the Executive Ethics Commission, publishes reports of wrongdoings only if there is proof of employee misconduct. It can refer cases to the Attorney General if the fraud is significant enough. The Attorney General, specifically the Public Integrity Bureau, then conducts its own investigation in order to prosecute involved public employees. Many cases mentioned third parties who applied for the PPP loan on behalf of an individual. The DOJ has gone after some of these third parties in Illinois, but it’s unclear that these are the same third parties that helped public employees. In June, the a federal jury in Chicago convicted Hadi Isbaih on charges of wire fraud. According to the DOJ, Isbaih used his company, Flash Tax Service Inc., to file fraudulent loan applications on behalf of his clients. Isbaih would ask for an upfront fee to file the loan form, and when the client received the loan, he would charge an additional fee. A sentencing date has not yet been announced for Isbaih. In September 2023, two Illinois businessmen were indicted on federal charges for obtaining $7.8 million in fraudulent business loans. According to the DOJ, they recruited self-employed individuals to provide personal information. With that, they would fill out loan forms with false data by inflating the individuals’ income, for example. They would then charge the clients up to $4,000 if the loan was successfully received. These two have not been convicted. There are severe consequences for PPP fraud. Knowingly declaring false statements to a financial institution can result in up to 30 years in prison or a fine of up to $1 million. Wire fraud, the use of the Internet or electronic communication to carry out fraud, is a federal crime that can be punishable by up to 20 years in prison. Amalia Huot-Marchand is a graduate student in journalism with Northwestern University’s Medill School of Journalism, Media, Integrated Marketing Communications, and a Fellow in its Medill Illinois News Bureau working in partnership with Capitol News Illinois.NEWARK, N.J. — Connor Bedard makes it sound so easy, so casual, so obvious. The toe drag? Well, yeah, there were two guys in his way. The shot that seemed to so flagrantly defy the laws of physics? Hey, man, goalies are good; gotta get creative. To hear Bedard break down his spectacular goal in the first period of Thursday’s game against the New York Islanders is to hear an accountant detail how they wrote off that printer the company purchased, or a house cleaner describe how they got that discoloration out of the shower floor. Advertisement Bedard had a job to do. He did it. What’s the big deal? Now that's a patented Connor Bedard wrister TM️ pic.twitter.com/R50Kuhrlqv — NHL (@NHL) December 13, 2024 “I get it in the middle and there’s two guys right there, so I know I’m not going to shoot it right away,” he said of the toe drag. “Just try to get it into a spot, and I’ve practiced shooting the puck a lot from different areas.” So you actually practice shots like that?, the clueless reporter asks. “Yeah, it’s pretty easy to do,” Bedard said with a shrug. “For a goalie, it might be tough when you’re going one way and shooting the other. Goalies are so good, you have to try to make it as hard as possible on them. I was able to hit my spot on that one and it went in or whatever.” Or whatever. Ho-hum, right? There’s no disrespect in his voice when he says this. No tone of arrogance, either. It’s just the way Bedard processes the game. He’s able to do things on instinct that most players wouldn’t be able to do with forethought and careful planning. At least, he’s able to do those things when he’s on his game, when he’s feeling himself, when he’s got that belief in his brain and that swagger on his stick. And after the first prolonged slump of his NHL career — probably his life, if we’re being honest — it appears that, yes, Bedard is back. You can see it in the way he’s dangling his way through the neutral zone, the way he’s breaking ankles as he crosses the blue line, and in that shot — both the selection and execution — on Long Island. He has a goal and four assists in the three games since Anders Sorensen took over for Luke Richardson behind the bench, and has three goals and six assists in his last eight games. He’s still behind expectations overall, with six goals and 18 assists in 29 games, but he’s looking more and more like himself lately. Advertisement “I felt great the first 10 games, and then had a little stretch where I didn’t feel great,” Bedard said. “But when I’m getting the puck — and for me, that’s putting myself in good areas to get the puck, not cheating things — then I’m able to make plays and let my creativity take over. (Against the Islanders), I got the puck a lot in really good spots. That’s the main thing for me.” Bedard had four shots on goal in the first period alone against the Islanders. Over the previous month, he had four games in which he didn’t record a single shot, and five more in which he had just one. Blackhawks assistant coach Derek King, who once scored 108 goals in a three-year span with the Islanders and is the primary offensive voice on the staff, has been hounding Bedard to shoot more all season. When you see him fire off one of those filthy drag-and-drive wristers, you can understand why. If you can shoot like that, why don’t you just always shoot?, the oversimplifying reporter asks. “It’s funny, people say that, but you can’t just shoot all the time,” Bedard said. The Carolina Hurricanes do , the snarky reporter retorts. “Yeah, I’m not Brent Burns taking 1Ts (one-timers) up top,” Bedard said with a laugh. “If I don’t get myself in a spot where I can shoot, I’m not going to shoot. That’s the thing. It’s not ‘shoot the puck all the time.’ It’s ‘get yourself in a spot where you can shoot.’ And I will shoot. I don’t want to have zero shots at the end of any games. But I’m not going to force anything just to have a SOG (shot on goal) at the end of the game. I’m going to try to make plays.” Connor Bedard is getting his swagger back. #Blackhawks pic.twitter.com/h5x8fuOeXO — Charlie Roumeliotis (@CRoumeliotis) December 13, 2024 That’s what he was doing Thursday night, making plays. That’s when he’s at his most dangerous. And that’s what he wasn’t doing during his goal drought. Bedard credited Sorensen for promoting a more aggressive style of play, with defensemen providing more support by jumping in the rush more often, and Sorensen in turn said Bedard has been “excellent” the last two games, holding on to pucks and getting to the middle of the ice. Advertisement But another former interim Blackhawks head coach has helped, too. King, as he showed during his tenure as bench boss during the 2021-22 season, has a knack for knowing when players need a pep talk and when they need to be left alone. And when Bedard’s confidence was at its nadir last month, King didn’t take him into the video room to break down his game. He simply had a series of “casual conversations” to get Bedard’s head back in the game. “It’s like riding a bike,” King said he told Bedard. “You’re a skilled player, you don’t lose that. So don’t overthink it. Focus on little things, whether it’s a good backcheck, or you laid a puck deep, or you blocked a shot, whatever it is for you. ... Just go play. Don’t think about all the other things. You make a mistake — who cares? You come back to the bench, I’ll yap at you, I’ll tell you and I’ll help you. But he’s done a good job. He’s starting to get his little groove back again and feeling it. Every player goes through it, I don’t care how good you are.” Does this mean that Bedard is going to score highlight-reel goals every night from now on? Of course not. But a confident Bedard is a dangerous Bedard, a weaponized Bedard. He’ll find the puck. He’ll find the time and space. And he’ll take the shot. And good luck to any goalie trying to anticipate where it’ll go. Must feel pretty cool to score a goal like that one , the spectacularly uncool reporter notes. “I don’t know, I expect it from myself,” Bedard said. “Not necessarily the toe drag or whatever, but I expect to make plays and get myself into spots where I have the ability to get a shot off and score. It feels good to score, for sure. But I don’t want to be surprised if I make a nice play. I expect to make nice plays.” (Photo: Mike Stobe / NHLI via Getty Images)Trump wants to turn the clock on daylight saving timeHow Trump’s bet on voters electing him managed to silence some of his legal woes
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‘Rhythm + Flow’ freestyles back to Netflix for Season 2Pre-Money Valuation of JPY9 Billion is Approximately Multiples of Current Parent Company Market Capitalization. Strategic Investors Further Validation of Technology and Growth Potential. Further Commercialization with Recent 25,000 Unit Order from B2B Sales Channel. TOKYO, Dec. 13, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) announces that its subsidiary MEDIROM MOTHER Labs Inc. raised to date an aggregate total of 260.3 million yen (approximtaely USD $ [1.7] million calculated at an exchange rate of JPY[153.64] to US$1) at a pre-money equity valuation of JPY9 billion (approximately USD $ [58.6] million calculated at an exchange rate of JPY[153.64] to US$1) in its Series A equity financing. NFES Technologies Inc. is the lead investor in the financing round, and several public companies in Japan, including M3, Inc. (TOKYO PRIME: 2413) and Elematec Corporation (TOKYO PRIME: 2715), as well as certain individual investors are also participating. The Series A equity financing round is still ongoing. MEDIROM MOTHER Labs has closed financings with six investors to date and intends to conclude the financing round by December 31, 2024. “We are very excited that our MEDIROM MOTHER Labs subsidiary has received such significant validation from strategic partners as our lead investor NFES Technologies Inc. as well as M3,Inc and Elematec Corporation. The pre money valuation of 9 billion yen is approximately multiples of MEDIROM’s current NASDAQ listing market capitalization which I believe further validates our technology, business model and growth potential.” said Kouji. The MOTHER Bracelet ® is currently in commercialization. From July 1, 2024 through October 31, 2024, MEDIROM MOTHER Labs received purchase orders for an aggregate of over 25,000 units from its B2B sales channel. “We believe the MOTHER Bracelet ® to be the world’s first fitness tracker that requires no electric charging by utilizing an innovative technology that enables the user’s body heat to generate electricity. We co-developed it with Matrix Industries, based in Silicon Valley and believe its features are cutting-edge technology with rich features and ease of use to track fitness levels, sleep patterns, pulse and body temperature We will continue to target markets such as hospitals, nursing homes and gyms, where such data is vital,” said Yoshio Uekusa, CEO of MEDIROM MOTHER Labs. ABOUT MEDIROM MOTHER Labs Inc. A subsidiary of MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) (“MEDIROM”), MEDIROM Mother Labs Inc. focuses on the health-tech sector. The company’s core activities include the "Specific Health Guidance Program" offered through the "Lav" health application and development and sales of the 24/7 recharge-free MOTHER Bracelet ®︎ smart tracker. By leveraging the features of the recharge-free MOTHER Bracelet ®︎ , MOTHER Labs offers customizable health management solutions across diverse sectors, including caregiving, logistics, manufacturing, and similar industries. Forward-Looking Statements Regarding MEDIROM and MOTHER Labs Certain statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about MEDIROM’s possible or assumed operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment, and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “design,” “target,” “aim,” “hope,” “expect,” “could,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “predict,” “project,” “potential,” “goal,” or other words that convey the uncertainty of future events or outcomes. These statements relate to future events or to MEDIROM’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause MEDIROM’s actual results, levels of activity, performance, or achievements to be different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond MEDIROM’s control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects MEDIROM’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to MEDIROM’s operations, results of operations, growth strategy and liquidity. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release include: MEDIROM’s ability to achieve its development goals for its business and execute and evolve its growth strategies, priorities and initiatives; MEDIROM Mother Labs’s ability to close its Series A equity financing on the anticipated timeline or at all; MEDIROM’s ability to collaborate in the anticipated manner; changes in Japanese and global economic conditions and financial markets, including their effects on MEDIROM’s expansion in Japan and certain overseas markets; MEDIROM’s ability to increase sales of the MOTHER Bracelet and achieve and sustain profitability in its Digital Preventative Healthcare Segment; the fluctuation of foreign exchange rates, which affects MEDIROM’s expenses and liabilities payable in foreign currencies; MEDIROM’s ability to maintain and enhance the value of its brands and to enforce and maintain its trademarks and protect its other intellectual property; MEDIROM’s ability to raise additional capital on acceptable terms or at all; MEDIROM’s level of indebtedness and potential restrictions on MEDIROM under MEDIROM’s debt instruments; changes in consumer preferences and MEDIROM’s competitive environment; MEDIROM’s ability to respond to natural disasters, such as earthquakes and tsunamis, and to global pandemics, such as COVID-19; and the regulatory environment in which MEDIROM operates. More information on these risks and other potential factors that could affect MEDIROM’s business, reputation, results of operations, financial condition, and stock price is included in MEDIROM’s filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Operating and Financial Review and Prospects” sections of MEDIROM’s most recently filed periodic report on Form 20-F and subsequent filings, which are available on the SEC website at www.sec.gov. MEDIROM assumes no obligation to update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ from those anticipated in these forward-looking statements, even if new information becomes available in the future. MEDIROM Healthcare Technologies Inc. NASDAQ Symbol: MRM Tradepia Odaiba, 2-3-1 Daiba, Minato-ku, Tokyo, Japan Web https://medirom.co.jp/en Contact: ir@medirom.co.jp MEDIROM MOTHER Labs Inc. Tradepia Odaiba, 2-3-1 Daiba, Minato-ku, Tokyo, Japan For more information visit: https://mother-bracelet.com
FLAGSTAR FINANCIAL, INC. NAMES LEE SMITH AS CHIEF FINANCIAL OFFICERBREAKING NEWS Juan Soto 'is signing with New York Mets in $700m deal', says ex-MLB player By JACK BEZANTS Published: 23:09, 26 November 2024 | Updated: 23:32, 26 November 2024 e-mail View comments Juan Soto has decided to sign for the New York Mets on a $700million deal, according to former MLB player Carlos Baerga. Baerga made the claim on Tuesday night on social media, saying: 'Well my people, these messages are coming directly. I think Juan Soto will sign with the NY Mets and it is about 700 million, my people.' Baerga shared his update alongside a report that Mets center fielder Jose Siri said he would give up his No 22 jersey for Soto if he joined the team. There has been no official confirmation from Soto or the Mets, who are in the running alongside multiple other organizations such as the Yankees, Boston Red Sox and Los Angeles Dodgers. Baerga used to play for the Mets and since retiring in 2005 has worked as an analyst on Spanish baseball coverage for ESPN. Soto is a free agent after spending last year with the New York Yankees , with the team losing the World Series to the Dodgers. Juan Soto is apparently ditching pinstripes and heading to the New York Mets Partnering Aaron Judge in an explosive Yankees lineup, the 26-year-old was hugely popular at Yankee Stadium - a reputation he would instantly trash with a move from the Bronx to Queens. The left-hander hit 41 home runs in the regular season for the Yankees who, if Baerga is correct, must now turn their focus on rebuilding their roster for 2025. One player they could go for is a former Met. First baseman Pete Alonso is also in free agency after his Citi Field contract ran out and the Yankees need a replacement for Anthony Rizzo. But make no mistake, Soto joining the crosstown rivals in New York would be a huge blow for Yankees manager Aaron Boone. The Mets overcame a brutal start last season - in early June, they had the third-worst record in MLB - to reach the NLCS where they were beaten by the Dodgers in six. Should Carlos Mendoza land the biggest prize of free agency, it would be huge statement. Baerga shared his update alongside a report that Mets center fielder Jose Siri said he would give up his No 22 jersey for Soto if he joined the team. Share or comment on this article: Juan Soto 'is signing with New York Mets in $700m deal', says ex-MLB player e-mail Add comment
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