Things To Do In SW Florida

By PHILIP MARCELO

NEW YORK (AP) — A former Goldman Sachs banker was sentenced Thursday to two years in federal prison for his role in a $4.5 billion scheme to ransack a Malaysian state investment fund.

Tim Leissner, at his sentencing in Brooklyn federal court, apologized to the people of Malaysia, who he called the “real victims” of the scheme.

“The funds raised more than a decade ago could have profoundly benefited the nation and its citizens,” he said in a statement read in court and provided by his lawyers. “Instead, due to my greed — and the greed of those involved alongside me — they were misappropriated.”

Prosecutors said Leissner and other Goldman Sachs bankers helped the Malaysian investment fund known as 1MBD, or the 1Malaysia Development Berhad state fund, raise $6.5 billion through bond sales.

But they say more than $4.5 billion of the funds were stolen and laundered through bribes and kickbacks.

The spoils bankrolled extravagant purchases, from wild parties to lavish spending on jewels, art, a superyacht and luxury real estate, prosecutors have said. They also helped finance the 2013 Martin Scorsese film “The Wolf of Wall Street” that starred Leonardo DiCaprio. read more

By MAE ANDERSON and ANNE D’INNOCENZIO

NEW YORK (AP) — Businesses rattled by President Donald Trump’s on again, off again tariffs absorbed more jolts on Thursday after a U.S. appeals court temporarily blocked a federal court order that would have halted most of his taxes on foreign imports.

Related Articles

• 
  Wrongful death lawsuit says Big Oil contributed to heat wave and woman’s death

• 
  Ex-Goldman Sachs banker gets 2 years in prison for plot to fleece billions from Malaysia’s 1MDB fund

• 
  Northrop Grumman doubles down on new rocket investment with Firefly

• 
  Victoria’s Secret website is down in the US as the lingerie seller addresses a ‘security incident’

• 
  The truth about these 4 common banking myths

A three-judge panel of the U.S. Court of International Trade ruled late Wednesday that Trump overstepped his authority when he invoked the 1977 International Emergency Economic Powers Act to declare a national emergency as justification for his wide-ranging tariffs. read more

Northrop Grumman and Firefly Aerospace have given a name to the future medium-lift rocket they plan to build: Eclipse.

The two companies are already partnered to help shepherd a new version of Northrop Grumman’s Antares rocket, which has not flown since 2023 when the company used the last of its supply of Russian-made engines for the rocket’s first stage.

A new version of the rocket called the Antares 330 will use seven of Texas-based Firefly’s Miranda engines on a redesigned first-stage the company is also developing. Firefly’s work on Antares 330 is flowing right into the design of the the larger Eclipse rocket.

Northrop Grumman, which is headquartered in West Falls Church, Virginia but has facilities all over the nation including in Florida, announced it was investing a further $50 million into Firefly’s development of Eclipse.

The new rocket, which won’t debut until at least 2026, aims to support space station resupply missions, commercial spacecraft, national security missions and scientific payloads for domestic and international markets, according to a joint press release from the two companies. read more

By WYATTE GRANTHAM-PHILIPS, Associated Press

NEW YORK (AP) — Victoria’s Secret has taken down its U.S. website and says some in-store services will also be unavailable as it addresses a “security incident.”

A message to customers remained in place of the popular lingerie brand’s normal shopping site Thursday, stating that it had halted these operations “as a precaution.”

“Our team is working around the clock to fully restore operations,” the message read.

Ohio-based Victoria’s Secret did not provide many details about the “security incident,” or directly confirm whether it was a cyber or ransomware attack. When asked for further information Thursday, a spokesperson just said that the company “immediately enacted our response protocols” and has engaged with third-party experts.

Related Articles

NYPD probing detectives who worked security at house where man says he was tortured, AP source says

Wrongful death lawsuit says Big Oil contributed to heat wave and woman’s death read more

By Erin El Issa, NerdWallet

The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Banking misconceptions abound, according to a new NerdWallet survey. The survey of more than 2,000 U.S. adults, conducted online by The Harris Poll, found that some Americans believe common myths about bank security, interest rates and fees, and where money should be saved for financial goals. But understanding the basics of where you keep your money can keep these myths from costing you.

Myth #1: Online banks aren’t safe

According to the survey, more than a third of Americans (36%) mistakenly believe online-only bank accounts are less secure than brick-and-mortar bank accounts. This misconception is more likely to be held by younger Americans — 50% of Gen Zers (ages 18-28) and 43% of millennials (ages 29-44) believe this myth, compared to just 27% of Gen Xers (ages 45-60) and 28% of baby boomers (ages 61-79). read more