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☆ If Peter Navarro goes to prison, he’ll hear the lions roar
▼ + stars: | 2024-03-18 | by ( Katelyn | ) edition.cnn.com time to read: +5 min

“Not only can you hear the lions … you can hear the lions roar every morning,” said Sam Mangel, Navarro’s prison consultant. Navarro is still appealing, asking the Supreme Court to intervene before he turns himself in on Tuesday morning. Another Trump adviser, Steve Bannon, has also been sentenced to four months in prison for contempt of Congress related to the same investigation, but his prison report date is on hold as he too pursues appeals. Mangel said Navarro will have to take classes and get a job inside the prison. US Federal Bureau of PrisonsDOJ asks Supreme Court to reject Navarro’s last-ditch effortThe Justice Department asked the Supreme Court on Monday to reject Navarro’s last-ditch effort to avoid reporting to prison.

Persons: Peter Navarro –, –, Navarro, “, ”, Sam Mangel, ” Mangel, Steve Bannon, ” Stanley Brand, doesn’t, Mangel, Navarro “ acclimate, He’ll, Navarro’s, Elizabeth Prelogar, meritless ”, ” Prelogar, ” CNN’s Devan Cole Organizations: CNN, Trump White House, White House, of Prisons, Trump, White, Congress, Prisons, US Federal Bureau of Prisons, FCI Miami, US Federal Bureau of, DOJ, Justice Department Locations: Miami, Puerto Rico

☆ Peter Navarro ordered to report to prison by March 19
▼ + stars: | 2024-03-11 | by ( Devan Cole | ) edition.cnn.com time to read: +2 min

CNN —Ex-Trump adviser Peter Navarro must report to a federal prison in Miami by March 19 to begin serving a four-month sentence for his contempt of Congress conviction, his attorneys said on Sunday. Navarro has now been ordered to report to the custody of the Bureau of Prisons, FCI Miami, on or before 2:00PM EDT on March 19, 2024,” Navarro’s attorneys said in a court filing, referring to a low-security prison in Florida. Navarro was sentenced earlier this year to four months in prison after being convicted of two contempt of Congress counts. He’s been trying to avoid reporting to prison while his appeal of the conviction plays out, but his efforts have so far failed. US District Judge Amit P. Mehta ordered him last month to report to prison after denying his bid to stay free, and the federal appeals court in Washington, DC, is now considering a similar request.

Persons: CNN —, Peter Navarro, “ Dr, Navarro, ”, He’s, Amit P, Mehta, Dr, Navarro’s, ’ Organizations: CNN, of Prisons, FCI Miami, DC, Justice Department, Capitol Locations: Miami, Florida, Washington , DC

☆ What happened to Denise Huskins' kidnapper Matthew Muller? The case was first considered a 'Gone Girl'-style hoax
▼ + stars: | 2024-01-17 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +7 min

She was kidnapped by Matthew Muller in Vallejo, California, in the middle of the night. When Huskins reappeared after her ordeal, Vallejo police accused her of staging the abduction as a hoax. Muller was ultimately ID'd as Huskins' kidnapper, and the Vallejo police eventually apologized publicly to Huskins for the labeling her ordeal a hoax. AdvertisementMuller was indicted in a Sacramento federal court on kidnapping charges in October 2015, nearly seven months after Huskins' abduction. AdvertisementBut state charges for the rape of Huskins were filed in Solano County Superior Court against Muller in 2018.

Persons: Denise Huskins, Matthew Muller, Muller, —, Felicity Morris, Bernadette Higgins, Huskins, Aaron Quinn, Quinn, fiancée, Andrea Roberts, Vallejo, Gillian Flynn's, David Fincher, Amy Dunne, Rosamund Pike, Nick Dunne, Ben Affleck, Quinn weren't, Misty Carausu, " Muller, Phillip A, Talbert, Huskins hadn't, he'd, Muller wasn't, He's Organizations: Service, San Francisco, Authorities, Netflix, Dublin, FBI, San Francisco Chronicle, US, Court, Napa State Hospital, CBS, FCI Tucson, Federal Bureau of Prisons, Vallejo Locations: Vallejo , California, partner's California, South Lake Tahoe, Huntington Beach, Vallejo, Dublin , California, Netflix's, Dublin, Huntington, South Lake, South, Tahoe, Sacramento, Alameda, Solano County, Napa, Arizona

☆ The inmate accused of stabbing Derek Chauvin 22 times was nearing the end of his current sentence
▼ + stars: | 2023-12-02 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

An inmate was charged Friday with stabbing ex-Minneapolis police Officer Derek Chauvin. Chauvin was convicted of murdering George Floyd and was serving his sentence in a federal prison in Arizona. The inmate, who nearing the end of a 30-year sentence, was accused of planning the attack. John Turscak stabbed Chauvin 22 times at the Federal Correctional Institution in Tucson and said he would have killed Chauvin had correctional officers not responded so quickly, federal prosecutors said. He became an FBI informant in 1997, providing information about the gang and recordings of conversations he had with other Mexican Mafia members and associates.

Persons: Derek Chauvin, Chauvin, George Floyd, —, John Turscak, Turscak, Eric Nelson, Nelson, Floyd, Black Organizations: Service, FBI, Federal Correctional Institution, Mexican Mafia, Prisons, FCI Tucson, Mafia Locations: Minneapolis, Arizona, Tucson, Minnesota, Los Angeles

☆ Jared Fogle, former face of Subway and admitted child abuser, is scheduled to be released from prison a year early
▼ + stars: | 2023-11-25 | by ( Haven Orecchio-Egresitz | ) www.businessinsider.com time to read: +3 min

Jared Fogle was once the face of Subway sandwiches. In 2015, Fogle was sentenced to 15 years in federal prison for having sex with minors. AdvertisementFor the last eight years, Jared Fogle, once the face of Subway sandwiches, has been living on an even blander diet at a federal prison mess hall. AdvertisementThe BOP declined to comment on Fogle's release date, per security policy, and it is unclear when his release was scheduled. An attorney for Fogle could not immediately be identified, as he represented himself in his last federal court matter.

Persons: Jared Fogle, Fogle, —, Fogle's, Kathleen McLaughlin, AP Fogle Organizations: Service, FCI, Business, Subway, FBI, AP, of, of Prisons Locations: FCI Englewood, Colorado, Indiana, Littleton , Colorado

Derek Chauvin, the former Minneapolis police officer convicted of murdering George Floyd, was stabbed by another inmate and seriously injured Friday at a federal prison in Arizona, a person familiar with the matter told The Associated Press. The attack happened at the Federal Correctional Institution, Tucson, a medium-security prison that has been plagued by security lapses and staffing shortages. The Bureau of Prisons confirmed that an incarcerated person was assaulted at FCI Tucson at around 12:30 p.m. local time Friday. It is also the second major incident at the Tucson federal prison in a little over a year. Chauvin’s stabbing comes as the federal Bureau of Prisons has faced increased scrutiny in recent years following wealthy financier Jeffrey Epstein’s jail suicide in 2019.

Persons: Derek Chauvin, George Floyd, Larry Nassar, shouldn’t, Eric Nelson, he’d, Chauvin, ” Nelson, Floyd, Black, Jeffrey Epstein’s, It's, “ Unabomber, Ted Kaczynski’s, Colette Peters, Peters, Amy Forliti, Michael Balsamo, Michael Organizations: Associated Press, Federal Correctional Institution, Prisons, FCI Tucson, FBI, of Prisons, Justice Department’s, Judiciary, Press Locations: Minneapolis, Arizona, Tucson, Florida, Minnesota, New York, Michael Sisak, x.com

A panel displays the Hang Seng Index during afternoon trading, in Hong Kong, China May 4, 2020. Other economic and policy highlights across the continent this week include preliminary Japanese third-quarter GDP, Indian inflation, and a policy decision from the Philippine central bank on Thursday. Some, like the China and aggregate emerging market indexes, last week fell to their lowest in three months. Perhaps the most interesting of all Goldman's FCIs is its Japanese index. Citi's economic surprises index for Japan turned negative last week and is now the lowest since June.

Persons: Tyrone Siu, Jamie McGeever, Wall, Goldman, Joe Biden, Xi Jinping, Diane Craft Organizations: REUTERS, Nasdaq, Bank of Japan, Mizuho, Mitsubishi UFJ, Sumitomo, Economic Cooperation, China's, Tencent Holdings, Alibaba, Lenovo, APEC, Thomson, Reuters Locations: Hong Kong, China, U.S, Philippine, Asia, Japan, San Francisco, India

ORLANDO, Florida, Sept 28 (Reuters) - The 'dollar smile' can be a blessing for Wall Street, or a curse. But the speed and extent of the move in the dollar and Treasuries, and tightening of financial conditions, warrant vigilance. According to Goldman Sachs, U.S. financial conditions are the tightest this year. This is not dissimilar to other major economies and regions, some of which - the euro zone, China and emerging markets - are feeling an even tighter squeeze. It might be too early for that to appear in third-quarter results - many big Wall Street firms will have hedged their currency exposure over the near term - but if sustained, fourth-quarter profits could be affected.

Persons: Stephen Jen, reckons Stuart Kaiser, Kaiser, Goldman Sachs, Rabobank's Jane Foley, Foley, Jamie McGeever, Andrea Ricci Organizations: Treasury, Citi, FCI, Reuters, Thomson Locations: ORLANDO, Florida, China, U.S, America

WASHINGTON (AP) — Hundreds of rioters have been charged, convicted and sentenced for joining the mob attack on the U.S. Capitol. There is no public record of a conviction or a sentence in Lazar's court docket. Lazar was sentenced in Washington’s federal court on March 17 to 30 months in prison, according to the Bureau of Prisons, but there’s no public record of such a hearing. Questions about Lazar’s case have been swirling for months, but the details of his conviction and sentence have not been previously reported. The judge overseeing Lazar’s case in May rejected a request from media outlets — including the AP — to release any sealed records that may exist.

Persons: Samuel Lazar's, —, Lazar, Donald Trump, Fort Dix —, George Papadopoulos, Trump, Robert Mueller, Papadopoulos, George Washington, Randall Eliason, Eliason, Defendants, ” Eliason, “ Let’s, “, Robin Meriweather, ”, Amy Berman Jackson, he’s, Judge Jackson, ” Jackson, ” ___ Richer, Eric Tucker Organizations: WASHINGTON, U.S . Capitol, Capitol, of Prisons, Associated Press, Department, AP, Justice Department, Fort Dix, Bureau of Prisons, FBI, George, George Washington University, ” U.S, NBC, Lancaster Locations: Ephrata , Pennsylvania, New Jersey, Russia, Washington, ”, Washington ,, U.S, Boston

Since the dollar index hit a 15-month low and embarked on its current upswing on July 14, Goldman Sachs' U.S. financial conditions index has risen 52 basis points. Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsIt is a small sample size, but the exchange rate is becoming an increasingly important factor tightening U.S. financial conditions. But continued dollar appreciation could tighten financial conditions further without the Fed having to raise rates again. The last time they held a net long dollar position was November. Fed economists in June launched a financial conditions index called "FCI-G" - Financial Conditions Impulse on Growth - aimed at measuring the impact of conditions on activity and growth.

Persons: Kim Hong, Goldman Sachs, Jerome Powell, Jamie McGeever, Andrea Ricci Organizations: REUTERS, Rights, Federal Reserve, U.S, HSBC, BULLS, Futures, Reuters, Goldman's FC, Open Market, Thomson Locations: Seoul, Rights ORLANDO , Florida, U.S, Goldman's

☆ Market reactions to Powell speech
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +8 min

"It is the Fed's job to bring inflation down to our 2% goal, and we will do so," Powell said. "August has been a difficult month for the market, so it is hungry for news that will help reverse the trend. Investors are hanging on to every word, but the main takeaway is that Powell signaled that the Fed would raise rates if needed. Rather than last year's short but brutal speech, Powell opted for a longer and calmer speech. KARL SCHAMOTTA, CHIEF MARKET STRATEGIST, CORPAY, TORONTO"On balance, this is a modestly less hawkish speech than markets had feared.

Persons: Jerome Powell, Powell, CHRISTOPHER HODGE, MICHAEL GREEN, ANDRE BAKHOS, CARSTEN BRZESKI, Ann Saphir, Christine, Lagarde, ” JOSEPH LAVORGNA, “, ” STUART COLE, ” QUINCY KROSBY, there's, DAVID WAGNER, Jackson, BRIAN JACOBSEN, patting, KARL SCHAMOTTA, Bernanke, Draghi Organizations: U.S . Federal, Federal, NFP, Fed, ING, Kansas City, REUTERS, CHIEF, CPI, Global Finance, Markets, Thomson Locations: U.S, JERSEY, FRANKFURT, Kansas, Jackson Hole , Wyoming, NIKKO, LONDON, CHARLOTTE, NORTH CAROLINA, CINCINNATI , OHIO, WISCONSIN, TORONTO

☆ The Fed could be very close to achieving one of its main policy goals
▼ + stars: | 2023-08-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

If the Federal Reserve's main policy goal these days is to tighten financial conditions, then it should be pretty close to achieving its goals, according to an Evercore ISI analysis. In fact, the Fed recently set up its own measure — the Financial Conditions Impulse on Growth , or FCI-G. "The Fed will have to consider the tightening in financial conditions when setting rates in coming months, including the decision whether to hike in September." "Our base is that the Fed will not raise rates further and developments in financial variables reinforce our call." Market pricing is largely in line with the call that the Fed halts its hiking cycle after raising rates 11 times since March 2022.

Persons: Evervore, Krishna Guha, Guha, Marco Casiraghi Organizations: Federal, U.S ., Fed, FCI, Evercore ISI, Treasury, Traders, Group, Citi, Cleveland

☆ Summer of angst as bond yields surge and global stocks wobble
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +5 min

Meanwhile, U.S. real yields, which show what investors can expect to earn on government bonds after adjusting for inflation, stand near their highest point since 2009. Benchmark yields also guide other key economic rates, raising the cost of capital as they climb. In Europe, a key long-term gauge of market inflation expectations remains well above the European Central Bank's 2% inflation target . Reuters GraphicsHigher bond yields, falling equities and a rising dollar are all tightening financial conditions fast, adding to investor concerns. Property accounts for roughly a quarter of China's economy, which is already suffering from tepid domestic consumption, faltering factory activity, rising unemployment and weak overseas demand.

Persons: Brendan McDermid, Goldman Sachs, Goldman, Hong, Yoruk Bahceli, Alun John, Dhara Ranasinghe, Lewis Krauskopf, Vincent Flasseur, Ira Iosebashvili, Mark Potter Organizations: New York Stock Exchange, REUTERS, Japan’s Nikkei, Reuters, Treasury, Central, Bank of England, Thomson Locations: New York City, U.S, Europe, Britain, China's

☆ Morning Bid: Wall St set for rebound after worst week since March
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +3 min

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. "The sell off in back-end rates is concerning," Anshul Sehgal, Goldman Sachs co-head of U.S. rates trading, said in an emailed note to clients. Futures on Wall Street , , are signaling a slightly higher open, although European equities (.STOXX) are shedding around 0.4% - playing catch up following a late drop on Wall Street on Friday - and Asian shares were a fraction lower on Monday. The more upbeat Wall Street mood might be because a tightening in financial conditions could give the Fed another excuse to ease off the pedal when it comes to further tightening or even cut rates sooner. Meanwhile, the number of companies reporting earnings is set to slow sharply, with 33 S&P 500 (.SPX) and 55 STOXX 600 companies reporting this week, according to Deutsche Bank.

Persons: Carlo Allegri, Samuel Indyk, Sehgal, Goldman Sachs, Goldman's Sehgal, June's, Bowman, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Bank of Japan, Treasury, Wall, Fed, CPI, Deutsche Bank, Reuters, Tyson Foods, Thomson Locations: New York, U.S

Indian rice stocks, including unmilled husk varieties at state warehouses, totalled 37.6 million metric tons on Aug 1, the sources told Reuters. Stocks held as of Aug 1 include 24.6 million metric tons of rice and 13 million metric tons of the unmilled variety, the sources said. State-run warehouses must have 13.5 million metric tons of rice, including strategic reserves of 2 million metric tons for the quarter beginning July 1, according to local government rules. FCI bought 84.6 million metric tons of rice paddy from domestic farmers during the 2022-23 marketing year, yielding around 57 million metric tons of rice. Indian farmers harvested a record 135.5 million metric tons of rice in 2022-23, according to the Ministry of Agriculture & Farmers Welfare.

Persons: Rajendra, Stocks, Krishna Rao, Rao, Mayank Bhardwaj, Rajendra Jadhav, Alexander Smith Organizations: REUTERS, Reuters, Food Corporation of India, FCI, Ministry of Agriculture & Farmers Welfare, El, Rice, Association, Thomson Locations: Kakinada Anchorage, Andhra Pradesh, India, DELHI, MUMBAI, Delhi, B.V

☆ The Fed has rolled out a new index for gauging the economy that could have big implications
▼ + stars: | 2023-07-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The Federal Reserve is changing the way it looks at "financial conditions," a move that could have important ramifications for policy ahead. The Fed has been using a series of interest rate increases to tighten financial conditions and, ultimately, to bring down inflation. Essentially, the move allows the Fed to distance itself from other financial conditions models, such as those formulated by Goldman Sachs and the Chicago Fed . By contrast, the Chicago Fed index's current reading is -0.28, implying relatively loose conditions. Capital Economics noted that the FCI-G "does a better job of illustrating the tightness of US financial conditions than various other measures."

Persons: they've, Krishna Guha, Jerome, Powell, Guha, Goldman Sachs Organizations: Federal, Evercore ISI, Fed, Chicago Fed, Treasury, Dow Jones, U.S, FCI

☆ Elizabeth Holmes' ex-partner Sunny Balwani has already had 2 years taken off his prison sentence
▼ + stars: | 2023-06-06 | by ( Jennifer Cunningham | ) www.businessinsider.com time to read: +2 min

Former Theranos exec Ramesh "Sunny" Balwani has had around two years shaved off of his federal prison sentence. He reported to prison in April for a nearly 13-year sentence, but his new release date is in 2034. Ramesh "Sunny" Balwani, Elizabeth Holmes' ex-boyfriend and the number 2 in charge at failed blood testing startup Theranos, has had some time shaved off of his nearly 13-year sentence for fraud and conspiracy, Insider has learned. But federal prison officials have reduced Balwani's sentence. In April, Balwani reported to prison at Terminal Island FCI, a minimum security federal facility just outside of Los Angeles.

Persons: Ramesh, Sunny, Balwani, Elizabeth Holmes, Theranos, Holmes, Rupert Murdoch, Insider's Sarah Jackson, Stephen Cazares Organizations: US Bureau of Prisons Locations: Los Angeles

CNN —Disgraced R&B singer and convicted sex trafficker R. Kelly has been transferred to a federal prison in North Carolina. R. Kelly, whose full name is Robert Sylvester Kelly, was moved to FCI Butner Medium I, a “medium security federal correctional institution,” according to the Federal Bureau of Prisons website. The Butner complex sits north of the Raleigh-Durham area and includes two medium security facilities, a low-security facility and a medical facility. He was already serving a 30-year sentence on racketeering and sex trafficking charges after being convicted in New York in September 2021. “Numerous seated jurors were either familiar with accusations that Defendant had a history of sexually abusing underage girls, had previously faced legal problems, and/or had seen the highly unflattering docuseries, Surviving R. Kelly, in which several government witnesses had appeared,” a brief filed last Wednesday said.

☆ Former NYC corrections union chief convicted of bribery wins early prison release
▼ + stars: | 2023-02-24 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

[1/2] Norman Seabrook, (C) the head of New York City's prison guard union, exits the Manhattan District court house in New York, U.S., July 22, 2016. Seabrook, 63, the former head of the Correction Officers' Benevolent Association, has spent 21 months in prison after unsuccessfully appealing his August 2018 conviction. "The sentence Huberfeld originally received reflected an approximate equivalence between the conduct of the bribe giver, Huberfeld, and the bribe taker, Seabrook," Hellerstein wrote. The correction officers union has about 20,000 active and retired members. The case is U.S. v Seabrook, U.S. District Court, Southern District of New York, No.

There’s no parole in the federal prison system and good behavior credits are in short supply compared to most states. More likely, Shah would be told a date, at least a month out, to surrender herself at a federal facility. Her best hope would be to be deemed most appropriate for a minimum security camp. “A minimum-security camp, I mean even moving up to next level, which is still ‘low security’ that’s a huge difference. If you’re eligible for a camp, you’ll go to Alaska if you can go to a camp.” Share this -Link copied

☆ She gave birth, twice, in prison. We were there to witness the reunion with her kids.
▼ + stars: | 2022-12-24 | by ( Jamie Roth | Alan Chin | ) www.businessinsider.com time to read: +15 min

As she left prison, still wearing her prison-issue sweatsuit, the photographer Alan Chin raced to catch the reunion at the San Antonio airport. Alan Chin for InsiderWhat made this reunion even more poignant was that Kelly had been let out once before. Alan Chin for InsiderThere is no reliable count of the number of babies born behind bars each year. Alan Chin for InsiderWhen Kelly returned to prison after her year out, Rick tried to stay in close touch. Alan Chin for Insider"It was just us: me and my kids, and him.

☆ Todd and Julie Chrisley ordered to report to Florida prisons in mid-January
▼ + stars: | 2022-12-14 | by ( Alta Spells | ) edition.cnn.com time to read: +1 min

The couple have been ordered to report to two different federal prisons on January 17, according to the documents. Todd and Julie Chrisley, best known for their reality series “Chrisley Knows Best,” were found guilty in June of conspiracy to defraud banks out of more than $30 million in fraudulent loans. Todd Chrisley, who was sentenced to 12 years in prison with three years of supervised release, has been assigned to serve time at FPC Pensacola, a minimum-security facility in Pensacola, Florida. His wife Julie Chrisley was sentenced to seven years in prison and three years of supervised release. But Todd and Julie are people of faith, and that faith gives them strength as they appeal their convictions.”

Timothy York knows what works to treat his decadeslong opioid addiction: Suboxone, a medication that effectively quiets cravings. Since York arrived in federal prison in 2008, he has been held in a series of facilities awash with contraband drugs and violence. Yet the federal prisons are treating only a fraction — less than 10% — of the roughly 15,000 prisoners who need it, according to the bureau’s estimates. Some say the issues stem from a culture at the bureau that is skeptical of addiction medication and pits staff against prisoners. He was using an underground supply of Suboxone at USP-Coleman, the federal prison in Florida where he was incarcerated, but it was erratic.

☆ Former federal prison warden convicted of sexually abusing inmates
▼ + stars: | 2022-12-09 | by ( The Associated Press | ) www.nbcnews.com time to read: +5 min

The former warden of a federal women’s prison in California where inmates said they were subjected to rampant sexual abuse was convicted on Thursday of molesting inmates and forcing them to pose naked in their cells. Ray Garcia was found guilty of all eight charges and faces up to 15 years in prison. He was among five workers charged with abusing inmates at the federal correctional institution in Dublin, California, and the first to go to trial. Garcia, 55, retired from his post last year after the FBI found nude photos of inmates on his government-issued phone. Garcia was charged with abusing three inmates between December 2019 and July 2021.

chartAccording to Morgan Stanley, the relief rally that engulfed risk assets produced the second-largest year-to-date easing in U.S. financial conditions, worth 30 basis points. By this measure, financial conditions now are easier than they were before the Fed's September and November rate hikes. If all that is true, there may be less need to focus so heavily on financial conditions, and a more balanced monetary policy now is sensible. To be clear, the Fed isn't completely turning its back on financial conditions. By this measure, financial conditions have tightened considerably in recent months.

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