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Tag: Chicago

Ramone Shaffers Sentence for Illegal Gun Possession
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Ramone Shaffers Sentence for Illegal Gun Possession

Federal Judge Sentences Chicago Man, Ramone Shaffers to Eleven Years in Prison for Illegal Gun Possession and Obstruction of Justice CHICAGO (STL.News) A convicted felon from Chicago has been sentenced to eleven years in federal prison for illegally possessing a loaded gun and offering to pay witnesses to lie on his behalf. RAMONE SHAFFERS illegally possessed the handgun and extended magazine on Oct. 16, 2016, in a parked car in the Woodlawn neighborhood on the South Side of Chicago.  Shaffers had previously been convicted of a felony and was not legally allowed to possess a firearm. Three passengers were in the car at the time of Shaffers’s illegal possession.  After Shaffers was arrested, he directed individuals to offer payment to the passengers in exchange for giving false testi...
CME Group: Statement on CME Group Political Action Committee
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CME Group: Statement on CME Group Political Action Committee

CHICAGO, IL (STL.News) CME Group today announced the company will suspend all political contributions through CME Group's Political Action Committee (PAC) for the foreseeable future.  This decision was made in response to the violent attack at the U.S. Capitol last week.  In light of this appalling event, the company believes it is critical to reexamine its contribution policies to ensure anyone who receives PAC support shares the values of CME Group. CME Group's Political Action Committee (PAC) is a voluntary contribution program for eligible exchange members and employees and has historically supported members of office and political candidates that endorse a free market economy, regardless of political affiliation.  The PAC serves to educate candidates around the role of futures mark...
Chicago: Hirenkumar P. Chaudhari Pleads Guilty to Money Laundering
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Chicago: Hirenkumar P. Chaudhari Pleads Guilty to Money Laundering

Suburban Chicago Man, Hirenkumar P. Chaudhari Pleads Guilty to Laundering Proceeds From Telemarketing Scheme That Defrauded Elderly Victims CHICAGO (STL.News) A suburban Chicago man has pleaded guilty in federal court to laundering cash proceeds from a telemarketing scheme that defrauded elderly victims. HIRENKUMAR P. CHAUDHARI, 27, of Des Plaines, Ill., pleaded guilty on Jan. 6, 2021, to one count of money laundering. The conviction is punishable by up to 20 years in federal prison. U.S. District Judge Sara L. Ellis set sentencing for April 1, 2021. The guilty plea was announced by John R. Lausch, Jr., United States Attorney for the Northern District of Illinois; J. Russell George, Inspector General of the Treasury Department Inspector General for Tax Administration; William Hedric...
Boeing Reaches Agreement with Department of Justice
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Boeing Reaches Agreement with Department of Justice

CHICAGO, IL (STL.News) Today, Boeing (NYSE:BA, “the Company”) announced that it has entered into an agreement with the U.S. Department of Justice (DOJ), which resolves the Department’s investigation into the Company relating to the evaluation of the Boeing 737 MAX airplane by the Federal Aviation Administration (FAA).  As part of Boeing’s resolution with DOJ, the Department has agreed to defer prosecution of the company, provided that Boeing abides by the obligations set forth in a three-year deferred prosecution agreement, after which time the charge will be dismissed. Under the agreement, Boeing will pay a penalty of $243.6 million and provide $500 million in additional compensation to the families of those lost in the Lion Air and Ethiopian Airlines accidents.  The agreement also inc...
CME Group to Launch Six New Japanese Energy Futures Contracts
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CME Group to Launch Six New Japanese Energy Futures Contracts

CHICAGO and TOKYO (STL.News) CME Group, the world's leading and most diverse derivatives marketplace, today announced four new Japanese electricity futures contracts and two new LNG futures contracts will be available for trading on February 8, 2021, pending regulatory review. The four new electricity futures contracts expand CME Group's already robust suite of global power futures and options and fill a gap in the Japanese electricity futures market, providing traders a robust platform for block-trade submission to CME Clearing.  The two new LNG contracts provide Japanese power producers a more efficient tool to manage their price risk. "The Japanese wholesale electricity market is now fully liberalized with hundreds of retail firms and producers, creating an opportunity for a more ...
Drug Paraphernalia Intercepted by CBP Officers in Chicago, IL
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Drug Paraphernalia Intercepted by CBP Officers in Chicago, IL

CHICAGO, IL (STL.News) U.S. Customs and Border Protection (CBP) officers in Chicago recently seized four shipments that contained dabbers, quartz banger nails, used to vaporize cannabis concentrates on a bong or dab ring. On December 27 and 28, CBP officers inspected the four shipments, arriving from Hong Kong, to determine the admissibility of its contents in accordance with CBP regulations.  The shipments were manifested as glass adapters, but when officers opened the shipments they found 2,500 Quartz Banger Nails in each parcel with a total domestic value of $169,000. CBP will seize any illegal drug paraphernalia. Law prohibits the importation, exportation, manufacture, sale or transportation of drug paraphernalia.  If you are convicted of any of these offenses, you may be subject...
Equity Residential Sells Large San Diego Asset
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Equity Residential Sells Large San Diego Asset

Proceeds to be Used to Address Sole Significant 2021 Debt Maturity CHICAGO, IL (STL.News) Equity Residential (NYSE: EQR) Monday announced that the Company has sold an apartment property in San Diego and used the sale proceeds to enhance its already strong financial position by addressing 2021 debt maturities. The Company sold Vantage Pointe, a 679-unit apartment property located in downtown San Diego, for a sale price of approximately $312.5 million at a Disposition Yield of 4.1%, generating a preliminary Un-levered IRR of 8.8% over the Company’s ten-year ownership period.  The Company used the proceeds from this sale as well as cash on hand and borrowings under its commercial paper program to satisfy its obligations on its $750.0 million 4.625% unsecured notes which are due in Decembe...
Two Men Charged in Conspiracy to Steal Computer Equipment
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Two Men Charged in Conspiracy to Steal Computer Equipment

Two Men Charged in Conspiracy to Steal Computer Equipment From Chicago Company CHICAGO (STL.News) An employee of a Chicago company conspired with a New Jersey man to steal computer equipment from the company and sell it to businesses in California and Texas, according to charges in a federal indictment. DONALD WILSON worked for the Chicago company as a data center engineer.  From 2015 to 2018, Wilson conspired with IVAN SIERRA to steal computer servers, hard drives, and other information technology equipment from the company’s facilities in Chicago and Secaucus, N.J., the indictment states.  Sierra then worked to sell the stolen equipment to businesses in Chatsworth, Calif., and Stafford, Texas, for a total of more than $500,000 the indictment states. The indictment was returned Thu...
Greenwood: Daniel R. Fruits Charged for Fraud Scheme
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Greenwood: Daniel R. Fruits Charged for Fraud Scheme

Greenwood Man, Daniel R. Fruits Charged Federally for Alleged $14 Million Fraud Scheme Allegedly spent stolen funds from a Kentucky investor on Ferraris, horses, Rolex watches, and escorts Indianapolis (STL.News) Acting United States Attorney John E. Childress announced today that Daniel R. Fruits, 46, of Greenwood, Indiana, was charged by a federal grand jury for his alleged role in three separate fraud schemes, including a nearly $14 million fraud on an investor, an attempted mortgage fraud, and a vehicle title-washing scheme. “This financial investor gave his hard-earned money to someone whom he thought he could trust,” said Childress.  “Instead, the victim’s money ended up in the hands of a self-absorbed thief who only cared about his interests.  Living a life of fraud is inexcus...
CME Group to Launch Ether Futures on February 8, 2021
Business

CME Group to Launch Ether Futures on February 8, 2021

Ether futures to expand CME Group's robust crypto derivatives offering for institutional traders alongside CME Bitcoin futures CHICAGO, IL (STL.News) CME Group, the world's leading and most diverse derivatives marketplace, today announced it intends to launch Ether futures starting February 8, 2021, pending regulatory review. The new contract will be cash-settled, based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of Ether.  Ether futures will be listed on and subject to the rules of CME. "Based on increasing client demand and robust growth in our Bitcoin futures and options markets, we believe the addition of Ether futures will provide our clients with a valuable tool to trade and hedge this growing cryptocurrency,"...
Chicago: Firearm “Switch” Devices Seized From Suburban Chicago Home
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Chicago: Firearm “Switch” Devices Seized From Suburban Chicago Home

More Than 100 Firearm “Switch” Devices Seized From Suburban Chicago Home; Devices Are Capable of Turning Handguns Into Machine Guns CHICAGO (STL.News) A suburban Chicago man was arrested on a federal firearm charge after law enforcement this week seized machine guns and more than 100 “switch” devices from his home. Each device is capable of converting a semi-automatic pistol into a machine gun. LEONARD D. JOHNSON, also known as “Scrap,” 32, of Robbins, is charged with one count of illegal possession of a machine gun.  Johnson was arrested Monday after agents from the U.S. Bureau of Alcohol, Tobacco, Firearms, and Explosives executed a search warrant at his home.  The agents seized five firearms, including three machine guns, and approximately 117 “switch” devices, according to a crimin...
Chicago: Antuane King Sentenced for Illegally Structuring Nearly $350,000
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Chicago: Antuane King Sentenced for Illegally Structuring Nearly $350,000

Chicago Man, Antuane King Sentenced to More Than a Year in Prison for Illegally Structuring Nearly $350,000 CHICAGO (STL.News) A Chicago man was sentenced to 14 months in federal prison for illegally structuring nearly $350,000 in cash deposits in an effort to evade federal reporting requirements. In 2015 and 2016, ANTUANE KING made at least 37 deposits of less than $10,000 each at seven financial institutions, including the Chicago Firefighters Credit Union.  The deposits were structured in an effort to evade federal reporting rules, which require financial institutions to notify the U.S. Department of the Treasury about transactions of more than $10,000.  After making all of the structured cash deposits, King later combined all of the money to purchase three residences in the south s...
Chicago: Owner and Employees Charged With Defrauding Illinois Low-Income Daycare Program
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Chicago: Owner and Employees Charged With Defrauding Illinois Low-Income Daycare Program

Owner and Employees of Chicago-Area Child Care Centers Charged With Defrauding Illinois Low-Income Daycare Program Out of $6.1 Million Chicago (STL.News) The owner of Chicago-area child care centers and several of her employees fraudulently schemed to pocket more than $6.1 million from a State of Illinois program designed to help low-income families afford child care, according to an indictment returned in federal court. ALEESHA McDOWELL owned child care providers A&A Kiddy Kollege Inc. in Calumet City, A&A Kiddy Kollege 2 in Calumet Park, and Kreative Kidz Academy Inc., Kreative Kidz Academy II Inc., and Kreative Kidz Academy III Inc. in Chicago.  From 2012 to 2020, McDowell schemed with four directors of her centers and others to defraud the Illinois Department of Human Servi...
CME Group Announces Launch of New Implied Volatility Indexes
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CME Group Announces Launch of New Implied Volatility Indexes

First CVOL offerings to include 10-Year Treasury Note and G5 FX currency pair indexes CHICAGO, IL (STL.News) CME Group, the world's leading and most diverse derivatives marketplace, today announced it began daily publication of a suite of new implied volatility benchmark indexes based on its innovative, proprietary CME Group Volatility Index (CVOL™) methodology.  Beginning with eight implied volatility indexes on its 10-Year Treasury Note futures and G5 FX currency pair futures, the CVOL family of indexes will be expanded to include benchmarks across all major asset classes in the first half of 2021. "Traders already rely on CME Group's deep and liquid options markets to monitor, hedge against, or express views on volatility across all major asset classes ahead of market-moving events,...
Quarterly Dividend Declared by CME Group
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Quarterly Dividend Declared by CME Group

CHICAGO, IL (STL.News) CME Group Inc., the world's leading and most diverse derivatives marketplace, today declared a fourth-quarter dividend of $0.85 per share, payable December 29, 2020, to shareholders of record as of December 10, 2020.
AbbVie News: Third-Quarter 2020 Financial Results
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AbbVie News: Third-Quarter 2020 Financial Results

NORTH CHICAGO, IL (STL.News) AbbVie (NYSE: ABBV) announced financial results for the third quarter ended September 30, 2020. "We continue to be very well positioned for the long-term. Results from key growth products – including Skyrizi, Rinvoq and Ubrelvy – continue to track ahead of our expectations, our aesthetics portfolio is demonstrating a strong V-shaped recovery, our hematologic-oncology franchise is delivering double-digit growth and we're advancing numerous attractive late-stage pipeline programs," said Richard A. Gonzalez, chairman and chief executive officer, AbbVie.  "We are also executing effectively on Allergan integration initiatives with synergy and accretion targets tracking well." NOTE: this is NOT complete release. View complete release: https://news.abbvie.com/ne...
Equity Residential Reports Third Quarter 2020 Results
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Equity Residential Reports Third Quarter 2020 Results

CHICAGO, IL (STL.News) Equity Residential (NYSE: EQR) today reported results for the quarter and nine months ended September 30, 2020. "Operating results in the quarter were challenging and widely varying.  Our suburban portfolio continues to fare relatively well with occupancy similar to last year, rates down only modestly and recovery under way in some markets.  However, the approximately 23% of our portfolio located in the urban cores of New York, San Francisco and Boston continues to struggle with pandemic-related reductions in economic activity, which have led to declines in occupancy, lower resident renewal levels and a related drop in rental rates.  While we have seen recent improvements in renewals and application volume, pricing pressures continue and headwinds remain," said Mark...
Boeing CEO Updates Employees on Third-quarter Results
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Boeing CEO Updates Employees on Third-quarter Results

CHICAGO, IL (STL.News) Boeing President and CEO Dave Calhoun shared the following message with employees today addressing the company’s third-quarter results: Team, Thank you for all you’re doing for our customers, for our business, for one another and for our communities.  As we navigate the current landscape, we’re taking actions to become more agile, more resilient and better positioned to capture the long-term opportunities that remain in front of us. This quarter, we made important progress working closely with global regulators on 737 certification efforts.  We also introduced a comprehensive Safety Management System (SMS), which incorporates the many lessons learned from the internal and external investigations surrounding the MAX, and further drives our safety and first-time qua...