Derek Chauvin, the former Minneapolis Police Officer convicted of murdering George Floyd in 2020, pleaded guilty to two counts of tax evasion in a Washington County court on Friday. His ex-wife had previously pleaded guilty to two counts of underreporting their income and failing to file tax returns. Chauvin is currently serving a 40-year sentence for the murder of Floyd, and faces a maximum of five years in prison for the tax evasion charges, with a sentencing hearing scheduled for August 12.
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President Joe Biden has proposed legislation to make it easier for the government to punish executives at failed banks, including the ability to claw back compensation, impose civil penalties, and ban executives from the banking industry. The policy is meant to deter risky actions and ensure that executives are held accountable for their actions, protecting taxpayers and strengthening the banking system.
SVB Financial Group, the former parent of Silicon Valley Bank, has filed for Chapter 11 bankruptcy protection after the tech-reliant bank was shut down by regulators due to a run on the financial institution. The filing does not include Silicon Valley Bank, SVB Securities, SVB Capital's funds, or its general partner entities. The company, its CEO, and its chief financial officer were targeted this week in a class action lawsuit that claims the company didn’t disclose the risks of future interest rate increases. The FDIC is expected to provide more information in the coming days.
The FDA's independent advisory committee has voted in favor of full approval of Pfizer's COVID-19 pill, Paxlovid, for the treatment of mild to moderate Covid-19 in adults at high risk for severe disease. The drug, a combination of nirmatrelvir and ritonavir, has been available under emergency use authorization since December 2021 and has been used by over 8 million people in the US. The FDA is expected to make a decision on full approval of the drug in the coming weeks.
The FBI is offering a $20,000 reward for information leading to the whereabouts of Maria del Carmen Lopez, a 63-year-old US and Mexican citizen who was kidnapped from her home in Mexico on February 9. The Colima Attorney General's office is working with the FBI on the investigation, and the public is being asked to be aware of any suspicious activity that may be related to the case. The kidnapping is the latest in a series of violent incidents involving Americans in Mexico, prompting the US State Department to issue a travel advisory warning US citizens to exercise increased caution when traveling to Mexico.
Key takeaways: Chinese President Xi Jinping is visiting Russia to show support for Russian President Vladimir Putin amid rising tensions between East and West. US…
Elliot Resnick, a former chief editor of The Jewish Press, was arrested in New York City on Thursday for his involvement in the Jan. 6 attack on the U.S. Capitol. He is accused of grabbing and holding the arm of a Capitol police sergeant and entering the building with a group that rushed up the stairs. Prior to the riot, Resnick had posted on social media questioning the 2020 election results. He is one of more than 300 people arrested in connection with the incident.
On Thursday morning, a BNSF freight train derailed near Anacortes, Washington, spilling an estimated 5,000 gallons of diesel fuel. The Ecology Department is assessing the situation and working with the train company to clean up the spill, while also urging people to stay away from the area until the clean-up is complete. This is the second derailment of a BNSF train in two days, with the first occurring in Arizona and the Washington incident being the first to involve a fuel spill.