Author: Web Desk

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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings Investors with Losses to Secure Counsel Before Important June 21 Deadline in Securities Class Action – BKKT, BKKT-WT, VIHAU, VIH, VIHAW

NEW YORK, June 08, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings (NYSE: BKKT, BKKT-WT) (NASDAQ: VIHAU, VIH, VIHAW) (a) between May 7, 2021 and February 25, 2022, inclusive (the “Class Period”); and/or (b) pursuant and/or traceable to the Offering Documents issued in connection with the business combination between the Company and Bakkt Holdings, LLC (“Legacy Bakkt”) completed on or about October 15, 2021 (the “Business Combination”) of the important June 21, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Bakkt securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Bakkt class action, go to https://rosenlegal.com/submit-form/?case_id=5546 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 21, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation, and that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Offering Documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) Bakkt had defective financial controls; (2) as a result, there were errors in the Company’s financial statements related to the misclassification of certain shares issued prior to the Business Combination; (3) accordingly, Bakkt would need to restate certain of its financial statements; (4) Bakkt downplayed the true scope and severity of these issues; (5) Bakkt overstated its remediation of its defective financial controls; and (6) as a result, the Offering Documents and defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Bakkt class action, go to https://rosenlegal.com/submit-form/?case_id=5546 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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International NASH Day Highlights a Common – But Unfamiliar – Liver Disease

Global Liver Institute Convenes Communities Around the Globe Today to Reverse the Growing Trend of Fatty Liver Disease

Washington, D.C., June 08, 2022 (GLOBE NEWSWIRE) — Global Liver Institute (GLI) calls attention to NASH by leading the 5th annual International NASH Day on June 9. The number of people with this advanced liver disease is expected to double by 2030, but #NASHday aims to prevent this growth. Join the movement to #StopNASHNow by listening in as 24 expert panelists from around the globe share the latest updates about the disease or adding to the conversation on social media (#NASHday). The movement permeates the globe through many locally-organized events to educate about, screen for, and prevent NASH.

NASH (nonalcoholic steatohepatitis) is a serious, progressive condition in which too much fat accumulates on the liver, leading to its inflammation and injury. It is the severe form of NAFLD (nonalcoholic fatty liver disease). Modern lifestyle and dietary patterns have contributed to increased prevalence of NASH and NAFLD around the world, and it is becoming the most common cause of liver disease. Given its widespread impact and the possibility of prevention in most cases of this disease, NASH emerges as a global health priority.

“With over a hundred million people worldwide already who have NASH and several times more in the earlier stages, people have reason to know about this progressive condition and what they can do today to combat it,” shared Donna R. Cryer, president and CEO of GLI. “Collective action is imperative to be certain that individuals in each community, no matter their background or environment, are informed and equipped to prevent fatty liver disease. The momentum that we build together today must advance and sustain the global fight against NASH.”

If you didn’t know, then now you know! Even though NASH is common, it remains relatively unknown, leaving much work to be done to increase public awareness. This year, GLI and its partners join with the theme to #StopNASHNow: Even as therapies for NASH are being developed, there are many steps that people and their doctors can take today to prevent, reverse, or slow the progression of fatty liver disease. For the 25% of adults already affected worldwide, it is due time for this life-changing knowledge.

  • An estimated 1 in 4 adults around the world already has NAFLD.
  • As many as 1 in 20 people has NASH.
  • The prevalence of NAFLD is increasing among all global regions and among all ethnicities in parallel with diabetes and obesity.
  • NASH can progress to cirrhosis or liver cancer – which may necessitate a liver transplant.

“International NASH Day demonstrates the potential that is realized as all stakeholders in NASH come together worldwide,” said Jeff McIntyre, NASH Programs Director at GLI. “From in-person screenings in at-risk communities to educational materials in 16 languages to challenging conversations with researchers, providers, and patients – today the world joins to create meaningful solutions for patients at every stage of NAFLD and NASH.”

International NASH Day has garnered the endorsement of prominent organizations from around the globe: American Association for the Study of Liver Diseases (AASLD); Association of Black Gastroenterologists and Hepatologists (ABGH); Asociación Latinoamericana para el Estudio del Hígado (ALEH); Associazione Italiana Studio del Fegato (AISF); Asociación Mexicana de Hepatología (AMH); Asian Pacific Association for the Study of the Liver (APASL); Canadian Association for the Study of the Liver (CASL); Conference on Liver Disease in Africa (COLDA); European African Treatment Advocates Network (EATAN); European Fatty Liver Conference (EFLC); European Society for Paediatric Gastroenterology Hepatology and Nutrition (ESPGHAN); EU Patient-Centric Clinical Trial Platforms (EU-PEARL); Fondazione Epatocentro Ticino; Hepatology Society, Dhaka, Bangladesh; Hepatology Society of the Philippines (HSP); Indian National Association for the Study of the Liver (INASL); North American Society For Pediatric Gastroenterology, Hepatology & Nutrition (NASPGHAN); Sociedad Argentina de Hepatologia (SAHE);Turkish Association for the Study of the Liver (TASL); United European Gastroenterology (UEG); World Gastroenterology Organisation (WGO); and World Patients Alliance (WPA).

Get Involved

To view the expert panels throughout the day today, visit https://hopin.com/events/5th-annual-international-nash-day/registration. Panels are available in English, French, Hindi, Mandarin, and Spanish throughout the day.

For additional information on International NASH Day, visit www.international-nash-day.com.

Support the NASH Day social media campaign using hashtags #NASHday #StopNASHNow. Please direct any additional questions to NASHDay@globalliver.org.

International NASH Day and its logo are registered trademarks of Global Liver Institute.

About Global Liver Institute

Global Liver Institute (GLI) is a 501(c)3 nonprofit organization founded in the belief that liver health must take its place on the global public health agenda commensurate with the prevalence and impact of liver illness. GLI promotes innovation, encourages collaboration, and supports the scaling of optimal approaches to help eradicate liver diseases. Operating globally, GLI is committed to solving the problems that matter to liver patients and equipping advocates to improve the lives of individuals and families impacted by liver disease. Follow GLI on Twitter, Facebook, Instagram, LinkedIn, and YouTube. GLI is the global host of International NASH Day.

Global Liver Institute
nashday@globalliver.org
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ROSEN, A TOP RANKED LAW FIRM, Encourages Credit Suisse Group AG Investors to Secure Counsel Before Important Deadline in Securities Class Action – CS

NEW YORK, June 08, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Credit Suisse Group AG (NYSE: CS) between March 19, 2021 and March 25, 2022, inclusive (the “Class Period”), of the important June 28, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Credit Suisse securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Credit Suisse class action, go to https://rosenlegal.com/submit-form/?case_id=5868 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 28, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases.  Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Credit Suisse had deficient disclosure controls and procedures and internal control over financial reporting; (2) Credit Suisse’s practice of lending money to Russian oligarchs subject to U.S. and international sanctions created a significant risk of violating rules pertaining to those sanctions and future sanctions; (3) the foregoing conduct subjected the Company to an increased risk of heightened regulatory scrutiny and/or enforcement actions; (4) a synthetic securitization deal, in which Credit Suisse sold off $80 million worth of risk related to a $2 billion portfolio of loans backed by assets owned by certain of the bank’s ultra-high net worth clients (the “Securitization Deal”) concerned loans that Credit Suisse made to Russian oligarchs previously sanctioned by the U.S.; (5) the purpose of the Securitization Deal was to offload the risks associated with these loans and mitigate the impact on Credit Suisse of sanctions likely to be implemented by Western nations in response to Russia’s invasion of Ukraine; (6) Credit Suisse’s request that non-participating investors destroy documents related to the Securitization Deal was intended to conceal the Company’s noncompliance with U.S. and international sanctions in its lending practices; (7) the foregoing, once revealed, was likely to subject the Company to enhanced regulatory scrutiny and significant reputational harm; and (8) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Credit Suisse class action, go to https://rosenlegal.com/submit-form/?case_id=5868 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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ROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages Aurinia Pharmaceuticals Inc. Investors with Losses to Secure Counsel Before Important June 14 Deadline in Securities Class Action – AUPH

NEW YORK, June 08, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) between May 7, 2021 and February 25, 2022, inclusive (the “Class Period”), of the important June 14, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Aurinia securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Aurinia class action, go to https://rosenlegal.com/submit-form/?case_id=3851 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 14, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Aurinia was experiencing declining revenues; (2) Aurinia’s 2022 sales outlook for LUPKYNIS would fall well short of expectations; (3) accordingly, Aurinia had significantly overstated LUPKYNIS’s commercial prospects; (4) as a result, Aurinia had overstated its financial position and/or prospects for 2022; and (5) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Aurinia class action, go to https://rosenlegal.com/submit-form/?case_id=3851 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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ROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages Digital Turbine, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – APPS

NEW YORK, June 08, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Digital Turbine, Inc. (NASDAQ: APPS) between August 9, 2021 and May 17, 2022, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2022.

SO WHAT: If you purchased Digital Turbine securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Digital Turbine class action, go to https://rosenlegal.com/submit-form/?case_id=6272 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company’s recent acquisitions, AdColony and Fyber, act as agents in certain of their respective product lines; (2) as a result, revenues for those product lines must be reported net of license fees and revenue share, rather than on a gross basis; (3) the Company’s internal control over financial reporting as to revenue recognition was deficient; (4) as a result of the foregoing, the Company’s net revenues was overstated throughout fiscal 2022; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

To join the Digital Turbine class action, go to https://rosenlegal.com/submit-form/?case_id=6272 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

Posted on

US Urges Malian Transition Government to Take Steps Towards Elections

The United States on Thursday called on the Malian transition government to take steps toward holding elections, adding to pressure on military leaders in Mali to restore democracy.

The West African country’s military leaders toppled the government and failed to keep a promise to hold elections in February, prompting sanctions from the Economic Community of West African States (ECOWAS).

The length of the transition has also caused a rift with Mali’s partners including the United States and former colonial power, France.

“We urge the Malian transition government to make sustained, tangible action toward holding elections, including detailed benchmarks and the early adoption of the electoral law,” a U.S. State Department spokesperson on Thursday.

On Monday, a spokesman for Mali’s military junta said it would take 24 months from March 2022 to restore civilian rule after an August 2020 coup.

Mali’s putsch leaders and regional heads of state have been at odds over a proposed five-year election timeline that was then revised to two — a delay that was previously rejected as too long by ECOWAS.

The West African regional bloc ECOWAS said on Tuesday that it regretted the decision by Mali’s interim government to extend the transition back to civilian rule by 24 months while negotiations between the two sides were ongoing.

Source: voice of America

Posted on

AU Chair Urges Ukraine to Demine Odesa Port to Ease Wheat Exports

Senegalese President and African Union Chair Macky Sall on Thursday urged Ukraine to demine waters around its Odesa port to ease much needed grain exports from the war-torn country.

Russia’s invasion of Ukraine and Western sanctions have disrupted grain deliveries from the two countries, fueling fears of hunger around the world.

Cereal prices in Africa, the world’s poorest continent, have surged because of the slump in exports, sharpening the impact of conflict and climate change and sparking fears of social unrest.

If wheat exports do not resume from Ukraine, Africa “will be in a situation of very serious famine that could destabilize the continent,” Sall told French media outlets France 24 and RFI.

Russia and Ukraine produce 30% of the global wheat supply.

But grain remains stuck in Ukraine’s ports because of a Russian blockade and Ukrainian mines, while Western sanctions on Moscow have disrupted exports from Russia.

Moscow has called for Ukraine to demine the waters surrounding the Ukrainian-controlled port of Odesa to allow out blocked grain, but Kyiv has refused for fear of a Russian attack.

Sall said Russia President Vladimir Putin, whom he met last week in Russia, had assured him this would not happen.

“I even told him: ‘The Ukrainians said that if they demine, you’ll enter the port.’ He says, no, he will not enter, and that’s a commitment he made,” the Senegalese leader said.

“There must now be work towards getting the demining done, the United Nations involved … so that we can start getting the Ukrainian wheat out,” he said.

Sall is to meet French President Emmanuel Macron in France on Friday.

He is expected to ask him to help lift EU sanctions against Russia, especially to reverse its exclusion from the global SWIFT bank messaging system.

“Since our banks are mostly linked to European banks, they cannot pay as they used to” for Russian products, the AU chair explained.

Source: voice of America

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South Africa’s President Sidesteps Money-Hiding Allegations in Parliament Speech

South African President Cyril Ramaphosa addressed parliament Thursday for the first time since a former spy boss last week accused him of hiding millions of dollars in his farmhouse.

Former director-general of State Security Arthur Fraser submitted an affidavit to police last week accusing the president of hiding large sums of cash.

Fraser said that on Feb. 9, 2020, a domestic worker and five accomplices stole at least $4 million that was stuffed in the furniture of Ramaphosa’s Phala Phala game farm. Fraser further alleged the president did not report the crime to police but instead asked the head of the Presidential Protection Unit, Major General Wally Rhoode, to deal with the matter.

Rhoode allegedly put a team together that tracked down the burglars. Fraser said when found, each of the men was paid the equivalent of $9,700 to be silent about the stolen millions.

Ramaphosa has denied any criminal activity but admits money was stolen from his farm. The money, he said, was from the sale of wild game.

His budget vote speech in parliament Thursday started an hour late because members of the far-left Economic Freedom Fighters objected, saying they refused to be addressed by “a money launderer and a criminal.”

Eventually, the president made it to the podium, where he told parliament the country faces many challenges and that lawmakers cannot “become distracted from the task that is at hand.”

Analyst Professor of Political Science at the University of Johannesburg, Mcebisi Ndletyana, said there are many questions that need to be answered, not least of all whether Ramaphosa paid tax on the money.

“The president has said it’s from the sale of animals, which is possibly true because that is a game farm, and these animals are quite expensive. It would appear very exotic,” Ndletyana said. “And so, to some degree there’s some comfort that the money is possibly not stolen. It’s highly unlikely that he stole it somewhere. But he still has to explain why the money was not banked, why it was at his house, whether it was declared or not.”

He said Fraser is no friend of Ramaphosa and has been implicated in the investigation into alleged corruption under former president Jacob Zuma.

“And so, he does have an ax to grind, and he may possibly be arrested and the report — this is going to be on the national intelligence — is coming out very soon, so he’s not going to look nice in that report. So, he’s an angry man,” Ndletyana said.

The claims against Ramaphosa are being investigated.

Source: voice of America