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Wednesday, August 27, 2008

Police in Denver, Colorado located in the United States say that three men who were arrested on August 25 for possessing drugs and weapons were not involved in a plot to assassinate US presidential candidate Barack Obama at the Democratic National Convention that night.

“[There was] insufficient evidence of any kind of plot or threat [against Obama]”, stated Troy Eid, Colorado’s district attorney who also said the men were making “racist rants” while high on methamphetamines.

“The alleged threats, hateful and bigoted though they were, involved a group of… methamphetamine abusers, all of whom were impaired at the time. The evidence involving the alleged threats does not warrant federal charges now,” said Eid. Authorities in Colorado will continue to investigate the individuals. “The law recognizes a difference between a true threat – one that can be carried out – and the reported racist rantings of a drug addict,” added Eid.

The alleged threat began when an unnamed female who was with the men stated to authorities that they were shouting racists words and remarks about Obama. At least two of the men are claimed to have ties to white supremacists.

The three men are identified as Tharin Gartrell, 28, Nathan Johnson, 32, and Shawn Robert Adolf, 33. Gartrell was the first suspect arrested. Police found him driving a rental truck while weaving around the road on August 25 and with him rifles,ammunition, drugs, disguises, 2-way radios, a bullet proof vest and identification badges for three unnamed people. Johnson was arrested a short time later and Adolf was arrested trying to escape from police by jumping out of a hotel window on the sixth floor. He broke his ankle and was taken to a local hospital for treatment.

Gartrell is facing charges of possessing drugs. Adolf and Johnson are charged with illegally possessing firearms and possessing methamphetamines. Johnson was also additionally charged with possessing body armor illegally.

Sunday, May 20, 2012

U.S. Democratic Party presidential candidate John Wolfe, Jr. of Tennessee took some time to answer a few questions from Wikinews reporter William S. Saturn.

Wolfe, an attorney based out of Chattanooga, announced his intentions last year to challenge President Barack Obama in the Democratic Party presidential primaries. So far, he has appeared on the primary ballots in New Hampshire, Missouri, and Louisiana. In Louisiana, he had his strongest showing, winning 12 percent overall with over 15 percent in some congressional districts, qualifying him for Democratic National Convention delegates. However, because certain paperwork had not been filed, the party stripped Wolfe of the delegates. Wolfe says he will sue the party to receive them.

Wolfe will compete for additional delegates at the May 22 Arkansas primary and the May 29 Texas primary. He is the only challenger to Obama in Arkansas, where a May 10 Hendrix College poll of Democrats shows him with 38 percent support, just short of the 45 percent for Obama. Such an outing would top the margin of Texas prison inmate Keith Russell Judd, who finished 18 percent behind Obama with 41 percent in the West Virginia Democratic primary; the strongest showing yet against the incumbent president. Despite these prospects, the Democratic Party of Arkansas has already announced that if Wolfe wins any delegates in their primary, again, due to paperwork, the delegates will not be awarded. Wolfe will appear on the Texas ballot alongside Obama, activist Bob Ely, and historian Darcy Richardson, who ended his campaign last month.

Wolfe has previously run for U.S. Congress as the Democratic Party’s nominee. On his campaign website, he cites the influence “of the Pentagon, Wall Street, and corporations” on the Obama administration as a reason for his challenge, believing these negatively affect “loyal Americans, taxpayers and small businesses.” Wolfe calls for the usage of anti-trust laws to break up large banks, higher taxes on Wall Street, the creation of an “alternative federal reserve” to assist community banks, and the implementation of a single-payer health care system.

With Wikinews, Wolfe discusses his campaign, the presidency of Barack Obama, corporations, energy, the federal budget, immigration, and the nuclear situation in Iran among other issues.

Tuesday, October 11, 2005

Former Deputy President of South Africa, Jacob Zuma, has appeared in a Durban court to face corruption charges. Mr Zuma was dismissed by the President, Thabo Mbeki, earlier in the year, following the conviction on fraud charges of his financial advisor, Schabir Shaik.

Monday, January 12, 2009

Byrraju Ramalinga Raju, founder and chairman of Satyam Computer Services, and his brother, B. Rama Raju, the company’s managing director, were arrested late Friday by Andhra Pradesh police. The brothers were placed under judicial custody in a Hyderabad, India jail and will remain there until January 23. Facing charges of criminal breach of trust (Section 406 of IPC), criminal conspiracy (Section 120-B), cheating (Section 420), falsification of records and forgery (Section 468), and fraudulent cancellation of securities (Section 477-a), they face up to ten years imprisonment if convicted.

After 18 hours of interrogation by the Crime Investigation Department (CID) at the state police headquarters, the Raju brothers were sent to the Chanchalguda prison and slept Saturday night on the floor along with 26 other low-risk inmates.

S. Bharat Kumar, the Rajus’s lawyer, asked the magistrate to issue orders for health monitoring. “His blood pressure is fluctuating and he needs medical treatment,” said Bharat Kumar. Mr. Raju appeared before the court Saturday while a team of doctors visited him after he had complained of chest pain.

Raju has Hepatitis-C, and both brothers have high blood pressure, so health precautions are necessary while imprisoned. Prison rules mandate service of jail food thrice a day. The menu includes 650 gm of rice thrice a day with 250 gm of vegetable curry and 125 gm of ‘daal’ plus tea twice a day.

Satyam’s chief financial officer Vadlamani Srinivas, who was also arrested Saturday, had undergone preliminary investigation and appeared Sunday before a special court, according to A. Sivanarayana, Andhra Pradesh additional director general of police. Srinivas was remanded to judicial custody until January 23 by Mr. D. Ramakrishna, Sixth Chief Metropolitan Magistrate, and sent to the Chanchalguda jail with the Raju brothers after interrogation by CID’s Crime Branch (the CB-CID). During his Saturday night arrest and probe by CB-CID, Srinivas made revelations which are contained in his confession letter as submitted to Network 18. “According to me fixed deposits are unreal and fictitious which were managed and was an understanding between the audit section management,” Srinivas stated.

The Hyderabad court on Monday postponed the bail hearings of the Raju brothers and Srinivas to January 16. To be defended by a battalion of 25 lawyers, the three accused will remain in Chanchalguda Central Jail until further court order. The Raju brothers were shifted Sunday to a mid-size Old Hospital Barrack cell shared with a bootlegger.

In 2008, the company struggled to purchase two infrastructure companies founded by family members of company founder and CEO Dr. Raju – Maytas Infrastructure and Maytas Properties – for $1.6 billion, despite concerns raised by independent board directors. Dr. Raju tendered his resignation on January 7 after due notice of falsified accounts to board members and the SEBI.

Since January 7 when two lawsuits were commenced, dozens of other class action law suits were filed against Satyam for hundreds of millions of dollars damages based on fraud in the United States District Court for the Southern District of New York in Manhattan, among others. The securities fraud class-action lawsuits have been filed on behalf of investors who bought Satyam American Depositary Receipts (ADRs) since 2004.

On Wednesday Dr. Raju admitted to falsifying and overstating Satyam’s cash reserves by $1B US dollars (£661m) or 94% of its cash and bank balances on books at the end of September.

The fraud was perpetrated several years ago to bridge “a marginal gap” between actual and accounting books operating profits, and continued for several years. “It was like riding a tiger, not knowing how to get off without being eaten,” B. Raju said.

In a letter to the board, Dr. Raju said that neither he nor the managing director had benefited financially from the inflated revenues. Further claiming that none of the board members had any knowledge of the dire company situation, he noted that Satyam’s balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). He alleged it also carried an accrued interest of INR 376 crore which was non-existent. He confessed that he himself prepared an understated liability of INR 1,230 crore on account of funds amid an overstated debtors’ position of INR 490 crore (as against INR 2,651 crore in the books).

Indian analysts have compared the Satyam-Raju scandal to the infamous American Enron scandal. Immediately following the media expose, PricewaterhouseCoopers, auditor of Satyam’s accounts, was set to be probed for complicity in the controversy. Times Now has reported that the Andhra Pradesh CID arrested PricewaterhouseCoopers (PWC) representative Gopal Krishnan for investigation on Saturday night.

New York-listed Satyam Computer Services Ltd., India’s fourth-biggest software firm, is a consulting and information technology services company based in Hyderabad, India. Founded in 1987 by Dr. Byrraju Ramalinga Raju, Satyam’s network spans 67 countries on six continents. It employs 53,000 professionals in India, the United States, the United Kingdom, the United Arab Emirates, Canada, Hungary, Singapore, Malaysia, China, Japan, Egypt and Australia. Its monthly salary outflow is estimated at six billion rupees ($125 million). Deriving more than half of its revenues from the United States, it serves 700 global companies, 185 of which are Fortune 500 corporations.

Satyam’s clients include Nestle, Ford, General Electric Co., General Motors Corp., Nissan Motor Co., Applied Materials Inc., Caterpillar Inc., Cisco Systems Inc. and Sony Corp., and brought in about $40bn last year.

In December 2008, a failed acquisition attempt involving the company Maytas led to a plunge in Satyam’s share price. After Wednesday’s confession, Satyam stocks fell further by more than 70%, while the BSE SENSEX dropped to 7.3% Wednesday, causing the removal of Satyam Computer Services from its indices on Thursday. The shares free fell to 11.50 rupees on Friday, their lowest level since March 1998, compared with around last year’s high of 544 rupees.

The New York Stock Exchange has terminated trading in Satyam stock as of January 7, while the National Stock Exchange of India said it will remove Satyam from its S&P CNX Nifty 50-share index from January 12.

India’s biggest-ever corporate fraud has seriously tainted India Inc.‘s strong corporate governance image. “The admission of fraud in financial affairs has created an adverse impression in the minds of trade, business and industry across the world,” the Indian government admitted. The government intervened on Friday night, dismissing Satyam’s board of directors, announcing it will appoint representatives to manage the affairs of the insolvent outsourcing giant. The board would meet within seven days. Dr Yeduguri Samuel Rajasekhara Reddy, chief Minister of State of Andhra Pradesh, India, on Sunday said that the main agenda is to protect the jobs of the software professionals. “We are taking all needful steps in coordination with the government of India to ensure that the jobs of 53,000 engineers are protected and the shareholders’ money is salvaged,” Reddy said.

“We are working on the names. The Satyam case is an aberration. The credibility of the Indian corporate sector in general, and IT sector in particular, should not be allowed to suffer because of this.” Prem Chand Gupta, the Corporate Affairs Minister said. The Federal Government of India appointed a three-member independent board with full authority for Satyam on Sunday and was set to convene within 24 hours. “We have appointed Deepak Parekh, chairman of Housing Development Finance Corporation, Kiran Karnik, former president of IT industry body NASSCOM and C. Achutan, former member of Securities and Exchange Board (SEBI) of India,” Mr. Gupta said.

In early Monday trading (0535 GMT) after the creation of the three-member board, Satyam shares rocketed upwards 60% to 38.15 rupees, even though the main Mumbai market was down more than 2%. BBC reported that Satyam shares have jumped 51% to 36.05 rupees on Monday after the stock lost 87% last week. “The constitution of the new board is seen as a positive step by the market. It’s a confidence boosting measure,” K.K. Mital, Globe Capital, New Delhi head of portfolio management services said. “But the rally will depend largely on the financial situation at the company and the kind of measures that are taken to improve liquidity,” he added.

The Company Law Board, however, has requested Satyam’s interim board not to implement its decisions. “We are asked by the Company Law Board not to implement the decisions of the board. But we are allowed to continue our activity. The team which was constituted recently is continuing its work,” Satyam head global marketing and communications, Mr. Hari Thalapalli, said.

Lazard Ltd., who has a 7.4% stake in Satyam, sought representation on the new board and wrote as much to The Indian Ministry of Corporate Affairs. “As the largest shareholder in the company, we want to be consulted in whatever decisions are being taken by the Indian government. We have written to the Ministry of Corporate Affairs and are awaiting a reply from them,” Hitesh Jain, a partner at ALMT Legal, who claimed to represent Lazard, said. “It is a fair proposal and we will take a decision as and when we clear other issues. No decision on this has been taken yet,” P.C. Gupta replied.

Meanwhile, the Securities and Exchange Board of India (SEBI) also announced it will try to control the damage and take steps to boost investor confidence. “This exercise will be undertaken after the third quarter results and is expected to be completed by end of February this year,” a SEBI official statement said. A SEBI team is also investigating acting-CEO Ram Mynampati whose salary was greater than that of founder Dr. Raju and all the directors combined. Dr. Raju had just one fifth of Mynampati’s total package of over Rs 3.5 crore as of March 2008. All the directors comparably received only a total of Rs 2.6 crore as salary, commissions, sitting fees, professional fees and other receivables.

Further, the Andhra Pradesh Police CID and teams assigned by the Economic Offences Wing of the CB-CID conducted searches Sunday of homes of the accused including the ex-CFO’s office to gather documentary evidence about the financial fraud.

Saturday, June 18, 2005

MasterCard International announced Friday that multiple instances of fraud have been tracked back to CardSystems Solutions, Inc., a company that processes credit card transactions and other payments. Customer names, banks, and account numbers of up to 40 million cardholders have been exposed, of which about 13.9 million are MasterCard-branded cards, the company said. Visa and American Express cards were also affected.

“The breach appears to be the largest yet involving financial data,” said David Sobel, of the Electronic Privacy Information Center.

CardSystems issued a statement late on Friday that said it learned of the potential breach 26 days ago, but that the FBI told the company not to advise the cardholders nor the public at large. CardSystems also said their statement had been vetted by the FBI.

A spokesperson for the FBI said that the agency had asked CardSystems not to disclose information that could compromise the investigation, but that it had not asked CardSystems to fail to disclose the breach at all.

Michael A. Brady, C.F.O. of CardSystems, told the Associated Press that “we’re absolutely blindsided by a press release by the association,” when speaking of MasterCard’s release. A MasterCard spokesperson said that the company was obligated to inform its customers of the breach.

MasterCard spokesperson Sharon Gamsin said that CardSystems was hit by a virus-like computer script that stole customer data for the purpose of fraud. She said MasterCard does not know how the script got into the CardSystem network.

Sobel said this theft “indicates that this is a shadowy industry where the consumer never really knows who is going to be handling and using their personal information. Presumably, the affected consumers thought they were dealing with MasterCard.” Having a third-party process credit card transactions is common practice in the industry.

Monday, February 27, 2006

Buffalo, New York —Wikinews was the first to tell you that the Elmwood Village Hotel development in Buffalo, New York was to undergo “significant changes”.

The Elmwood Village Hotel is a proposed project that would be placed at Elmwood and Forest Aves. in Buffalo. In order for the development to take place, at least five buildings that house both businesses and residents, must be demolished.

To confirm and to get more information about the changes, Wikinews interviewed Eva Hassett, Vice President of Savarino Construction Services Corporation, the development company in charge of building the hotel.

Wikinews: The hotel proposal is being redesigned. Could you comment on that? What changes are being made? Are they significant?

Eva Hassett: The hotel has been resized as a 72-room, four story building. This is 10% smaller in number of rooms and a full story lower. We are also redesigning the facades in a way that will minimize the mass – more of a vertical feeling than horizontal. Different materials, windows, details. The smaller size of the hotel also makes the number of on-site parking spaces more appropriate and hopefully represents less of a challenge to an already difficult parking situation.

WN: Will you still be going before the city’s planning board as scheduled on February 28? Same for the Common Council?

Hassett: We will be on the Planning Board agenda this Tuesday morning but I do not expect that the Board will vote on the item that morning. I think we will be mainly explaining the new design and hearing input/questions.

WN: Will there be anymore public meetings?

Hassett: We would be happy to do one more big public meeting. We will be talking to Forever Elmwood about that on Monday (February 27, 2006). We would like to see if there is support for the new design and we also want to honor the public’s request for another meeting. I am hopeful that meeting can take place the week of March 6th.

WN: Is Savarino considering Mr. Rocco Termini’s design/proposal? If no, do you (Savarino) support/oppose?

Hassett: We are hopeful that we can build the hotel as redesigned. We think it would be a great addition to the Elmwood Ave. area, a good way for out-of-towners to see what Buffalo offers and a big help to the businesses there.

WN: Are you considering more time for the community to make a judgment?

Hassett: As I mentioned above, we expect to have one more meeting to get public reaction to the new design, and I think the Planning Board may want an additional meeting to make their determination. We do however, have constraints that will limit the amount of extra time. We still think it is a great project for the City and Elmwood; and we still want it to be something that the community wants as well.

So far, the City of Buffalo’s City Planning Board is still scheduled to meet at 8:00 a.m. (Eastern) on February 28, 2006 followed by the Common Council meeting at 2:00 p.m. on the same day.

Images of the design are not yet available. “We are working on the renderings this weekend, but I will likely have some early in the week,” stated Hassett.

Thursday, October 1, 2009

A tsunami that was generated in the South Pacific by a powerful undersea earthquake has killed at least 110 people, according to authorities.

The majority of the fatalities occurred in Samoa, where rescue workers say at least 84 people were killed. Another 24 people are confirmed dead on American Samoa, while at least seven fatalities have been reported in nearby Tonga.

The US Geological Survey says an 8.0 magnitude earthquake struck early Tuesday local time. It generated waves that devastated coastal areas, knocked down buildings and sent cars floating out to sea.

Strong aftershocks followed the initial earthquake, with at least one measuring a magnitude 5.6. Tsunami alerts were issued for the entire South Pacific region but were later canceled. Survivors fled to high ground and stayed there for hours.

Several villages were destroyed on the southern Samoan coast of Upolu, which is also home to many tourist resorts.

During a flight on from Auckland, New Zealand to Apia, Samoa, Samoan Prime Minister Tuilaepa Sailele Malielegaoi told reporters he was shocked by the disaster. “So much has gone. So many people are gone. I’m so shocked, so saddened by all the loss.”

“The situation is very bad,” said Marie-Francoise Borel, a spokesperson for the International Red Cross, to the CTV News Channel by telephone. “This massive wave has swept across – it’s destroyed villages, it’s destroyed homes, people are in shock.”

The assistant chief executive of Samoa’s disaster management predicted that the death toll in the country could surpass one hundred, saying that searches for bodies in the region are still ongoing.

“They are still continuing the searches for any missing bodies in the area. Some areas have been flattened and the tsunami had brought a lot of sand onshore, so there have been reports the sand has covered some of the bodies. So we need specialised machines to search for bodies that are buried under the sand,” he said.

The communications head for the International Federation of the Red Cross, Jason Smith, told the Al Jazeera news agency that the Red Cross “[…] is working hard through five evacuation centres to provide people with safe places to stay and access to clean water,” estimating that up to 15,000 people in sixty villages were affected by the tsunami.

At the capital of American Samoa, Pago Pago, the tsunami measured 1.57 meters in height. The superintendent of the National Park of American Samoa Mike Reynolds reported four waves as high as six meters. People who experienced the quake said it was long, lasting from 90 seconds to three minutes.

Pago Pago city streets were strewn with overturned vehicles, cars, and debris. Some buildings located only slightly above sea level were completely destroyed by the waves, and power in some locations is not expected to be restored for up to a month. FEMA administrator Craig Fugate said that “we’re focused on bringing in the assistance for people that have been injured, and for the immediate needs of the tens of thousands of survivors down there.”

“The first federal team members are currently en route to American Samoa aboard a Coast Guard plane and will be providing on the ground assessments once they arrive on the island,” Fugate said. “FEMA, who has provisions pre-positioned in a distribution center in Hawaii, is also preparing to send supplies as needed to help meet the immediate needs of the survivors.”

Didi Afuafi, 28, who was riding on a bus in American Samoa when the tsunami struck, described her experiences. “I was scared. I was shocked. All the people on the bus were screaming, crying and trying to call their homes. We couldn’t get on cell phones. The phones just died on us. It was just crazy,” she said. “This is going to be talked about for generations.”

US President Barack Obama declared a major disaster in American Samoa, and has sent federal aid to support local recovery efforts in the US territory.

“My deepest sympathies are with the families who lost loved ones and many people who have been affected by the earthquake and the tsunami,” Obama said. He had earlier pledged in a written statement to give a “swift and aggressive” government response to the disaster.

“I am closely monitoring these tragic events, and have declared a major disaster for American Samoa, which will provide the tools necessary for a full, swift and aggressive response,” Obama said.

During a Wednesday appearance near Washington, D.C., the president said the US was ready to help its “friends” in neighboring Samoa and throughout the region.

In Tonga, seven people were confirmed dead and another three missing, after waves struck Niuatoputapu, a northern island.Acting prime minister Lord Tuita said in a statement that “according to information gathered from Niuatoputapu so far, seven people are confirmed dead, three missing and four with very serious injuries,” Lord Tuita, the acting prime minister, said in a statement. “It is reported that the tsunami did serious damage to the village of Hihifo, which is like the capital of the island.

“The hospital on the island is reported to have suffered major damage; telephone communication has been cut as a result of damage to equipment and facilities on the island; homes and government buildings have been destroyed,” he said.

An airplane was reportedly chartered by Tongan authorities to determine the amount of damage done to Niuatoputapu, but wasn’t able to land.