Julio Jones sued by hashish firm alleging fraud, cash laundering

Tennessee Titans wide receiver Julio Jones is being sued by a cannabis company in connection with alleged fraud and money laundering, according to court documents The Tennessean received late Tuesday night.

Genetixs, a California-based cannabis company, filed a lawsuit in the Los Angeles County Superior Court on July 21, which named Jones, his former Atlanta Falcons teammate, Roddy White, and White’s firm, SLW Holdings, among the defendants. SLW Holdings is one of the five members of Genetixs.

The lawsuit alleges that the defendants illegally administered and operated the Genetixs facility and have not reported any cannabis sales since March 2021. Genetixs estimates that about $ 3 million a month in cannabis has been harvested and illegally sold since then.

Jones and White, who were teammates with the Falcons from 2011 to 2015, are accused of working with a man named John Van Beek and his son Shaun Van Beek to run a black market cannabis operation through the Genetixs facility. Jones and White had invested in Genetixs, according to the documents through White’s SLW Holdings.

John Van Beek was hired by Genetixs in March 2020 as the on-site manager and operator of its rented facility in Desert Hot Springs, California. He is accused of breach of contract, failure to report cannabis sales and failure to provide the company with budgets, bills, expenses and other paperwork, according to the lawsuit.

A government inspection of the facility found numerous violations and John Van Beek was fired in March 2021.

The Van Beeks allegedly disabled cameras in the facility while it was in operation and at some point prevented a new manager from entering, the complaint said.

Without the consent of Genetixs, the defendants are accused of having given up the facility and handed over the premises to the landlord. They “stole, removed and abused Genetixs cannabis” from 22 crops and allegedly damaged machinery, equipment and other valuables, property valued at millions of dollars, the documents said.

Among others, Jones, White, the Van Beeks and other defendants are sued:

  • Conspiracy to cheat
  • Change
  • Violation of the duty of loyalty
  • Aid to breach of duty of loyalty and fraud
  • Violation of the member’s duty of good faith
  • Unjustified enrichment
  • accounting
  • Exemption from assessment
  • Civil conspiracy to commit fraud
  • Injunctive relief

Genetixs calls for general, criminal and exemplary claims for damages and injunctive relief.

The Titans were not immediately available for comment late Tuesday night.

The Titans acquired Jones in a deal with the Falcons last month, a move that gives Tennessee a dynamic offensive on paper for 2021. 32-year-old Jones, a two-time all-pro selection of the first team and seven-time professional bowler, established himself with the Falcons (2011-20) as one of the best wide receivers of his generation in a decade.

Jones was number 6 overall in Atlanta in 2011.

Ben Arthur reports on the Tennessee Titans for the USA TODAY Network. Contact him at barthur@gannett.com and follow him on Twitter at @benyarthur.

1 Dow Jones Inventory That Might Double Your Cash

When we think of Dow Jones stocks, we think of solid companies that have delivered steady profits and income over time. We can also think of annual dividend payments. Some stocks in the index – such as Johnson & Johnson and coke – have even increased their dividends 50 years in a row. Such investments are the backbone of many portfolios.

These stocks are usually safe bets. And that’s great. However, that doesn’t mean their stock performance is limited. In fact, there is one Dow Jones stock that could double your money. The digital business soared during the worst part of the pandemic. And the future after the pandemic looks bright. Which company are we talking about? Continue reading…

Image source: Getty Images.

Ready for the pandemic

One more tip: think of sports, brand strength, and basketball legend Michael Jordan. This Dow stock is none other than the sportswear giant Nike (NYSE: NO). The company’s timing was right when it launched a digital and direct-to-consumer plan in 2017. When the pandemic broke out, Nike was ready. Most of its stores are temporarily closed. And it missed sports-related sales – they were canceled.

But Nike’s digital sales were increasing. The company also focused on its membership program and used its apps to keep fans connected. Nike even launched products digitally through its sneakers app. All of this helped Nike recover quickly after the retailer opened its physical stores.

The company’s most recent quarter has a lot in store for us positive evidence about the future. Nike announced fourth quarter earnings last month. During the quarter, some stores in other parts of the world were temporarily closed. But North America had reopened as vaccinations increased and coronavirus cases decreased.

Quarterly revenue rose 96% year over year to $ 12.3 billion. Of course, last year’s period has been weak due to the health crisis. It is therefore useful to compare the sales figures with a time before the pandemic. And we see growth there too – sales increased 21% compared to the fourth quarter of 2019. Net income for the full year rose 126% to $ 5.7 billion. One of Nike’s greatest success stories is the Jordan brand – even 18 years after the basketball player retired. The brand had sales of nearly $ 5 billion for the fiscal year.

Keys to recovery and future growth

Nike’s digital platform was key to recovery. But it is also the key to future growth. Experts say consumer habits will stay the same when shopping online. This is great news for Nike. The company says digital sales now represent 35% of its business – that’s three years ahead of the original plan. Nike expects that number to reach 50% by fiscal 2025.

Nike’s loyalty program members will also drive growth. The company now has 300 million members. They have “proven to be a compelling driver for repeat engagement and purchases in digital and physical retail,” said CEO John J. Donahoe on last month’s conference call.

Currently, Nike stock trades at around $ 160. A look at another sportswear retailer with brand strength shows us that Nike could come a lot higher.

Lululemon Athletica, a maker of yoga-inspired clothing, sells for more than double the price of Nike. But Nike beats this company when it comes to profits and sales. And Nike is trading for less in terms of future earnings estimates. At today’s level, Nike stock looks like a bargain.

NKE Net Income (Annual) Chart

NKE net income (annually) Data from YCharts

Of course, a big surge is unlikely to happen overnight. But Nike has a lot of catalysts to be stable Gains over time – and after all, all the positive news could very well double the stock price – and your money.

This article represents the opinion of the author who may disagree with the “official” referral position of a premium advisory service from the Motley Fool. We are colorful! Questioning an investment thesis – even one of our own – helps us all think critically about investing and make decisions that will help us get smarter, happier, and richer.

Jasmine Cephas Jones Shines in Starz Darkish Comedy ‘Blindspotting’ | Leisure

Ashley played by the effortlessly responsive Jasmine Cephas JonesShe has an unhappy new year at Starz’s Blind spotting: Her 12-year-old partner Miles (Rafael Casal) is arrested for drug possession and destroys her near-bourgeois life in Oakland.

She and her son Sean (Atticus Woodward) are forced to move in with Miles’ mother, Rainey (the star) Helen Hunt) and his intense half-sister Trish (Jaylen Barron). And this is where the real story begins in this 2018 spin-off of the critically acclaimed dark comedy – both from the minds of Daveed Diggs (Hamilton) and Casal.

The free-spirited Rainey appears in headphones for the first time, transports groceries and grooves on the sidewalk to Tower of Powers “We Came to Play” – or does it? The characters begin to dance and then return to the narration.

We never know what’s coming. And despite the gravity of Miles’ plight, there is lively dialogue and comedic situations: he is on the phone on a smuggled “butt-phone” from prison; a weed-fueled night ends in a cook-off.

(Image credit: Starz)

When Ashley raises her 6-year-old in the midst of the chaos, she reconnects with a neighborhood she thought she left behind. This is the kind of show we like – weird, but with a heart.

Blindspotting, series premiere, Sunday June 13th, 9 / 8c, Starz

Indiana Jones to shoot at ‘Britain’s most haunted fortress’ | Leisure

The shooting of the new film “Indiana Jones” is to begin at Bamburgh Castle in Northumberland in the north-east of England.

Stars of the highly anticipated film – including Harrison Ford – will set foot on the historic landmark in the coming weeks, with experts already calling it Britain’s most haunted castle.

A source explained, “It sounds silly, but before we even start filming we’re all just talking about the ghost. It’s a really scary place.”

The film crew is said to be afraid of meeting the ghostly Pink Lady who is said to be patrolling the corridors.

Legend has it that it threw itself from the battlements in the Middle Ages when her lover left it for someone else, and the crew is already concerned about filming the landmark.

The insider told The Sun newspaper’s bizarre column, “A surprising number of the crew really believe in this stuff and it has shaken everyone. Some of the team are reluctant to even go to the oldest part of the castle, it really shook them.

“Aside from the ghosts, it’s a huge production and great news for the UK film industry that has been on its knees for 18 months. It’s great to see such a big blockbuster take off.

“It’s a top priority for the studio, so it has to get going – ghosts or not.

“The team will have to overcome it, even if some of them want to avoid certain places.”

In the upcoming film, Harrison, 78, will repeat the role of Henry ‘Indiana’ Jones for the latest installment in the money-spinning franchise.

The Hollywood icon is joined by the likes of Phoebe Waller-Bridge and Mads Mikkelsen, although the studio remains silent about the plot.

Jerry Jones’ Helicopter Will get the Billionaire Round City in Model – Robb Report

Jerry Jones He may have revolutionized the business of professional football with lucrative television deals and state-of-the-art stadiums, but even he didn’t anticipate its effects airbus Corporate helicopter would have to Dallas Cowboys brand.

“We originally got the ACH145 for transport,” says Jones, referring to it as “DC-1” even though its official air traffic control sign is Bluestar One. “We wanted to commute between the Star, our Frisco headquarters and the Arlington stadium, but it had to take us to our other stores as well.”

The logistical advantages were obvious: the way from the star’s training field to AT&T stadium fell from a one-hour drive to a 13-minute flight. The helicopter’s 400 mile range reaches remote areas of Texas (where Jones has other business interests) and since the DC-1 can land anywhere, the 145 mph cruising speed is more efficient than a small plane.

But it was the promotional perks that surprised the cowboy owner the most. According to Jones, flying the Airbus over the Dallas Metro is the best billboard imaginable for the $ 5.8 billion sports franchise. “It gives the cowboys an aura, regardless of whether we circle the stadium and land in the parking lot on game day or carry business partners and sponsors with us,” says Jones. What he underestimated, he says, “is how interesting the helicopter is for our fans. It catches their attention and makes them think of us. “

The owner of the Dallas Cowboys on board his Airbus corporate helicopter.

Jeremiah Jhass

Team colors – navy blue, metallic silver, royal blue, and white – make up the custom interior, but the palette is muted. “We’re not about checkered tablecloths and sawdust floors,” says Jones. Instead, the team wants to “project a modern, urban cowboy image. No question about it, the helicopter conveys this cutting-edge look. “

The helicopter can accommodate up to 10 people, although the layout can be reconfigured through Mission. A custom carbon fiber chest doubles as an integrated liquor cabinet with phone charging ports and Angry Headsets for every leather seat. The improved soundproofing enables conversations that would be challenging for most other helicopters. After spending so much time aboard the DC-1, Jones feels at home in the cabin. “It’s like getting into one of my cars,” he says.

The helicopter also serves as an air shuttle for Jones and his family, both for business and for trips to the family farm. It’s also a formidable way to travel with the team’s sponsors, other executives Jones does business with, and sporting greats like former cowboys quarterback Tony Romo and tight end Jason Witten. In March, retired Major General Patrick Brady, a former U.S. Army helicopter pilot and Medalist who evacuated 5,000 wounded from battlefields in Vietnam, took control. “This flight was particularly meaningful to me,” said Jones, whose family has long been associated with the National Medal of Honor Museum.

Friday nights were equally important to Jones and his wife, Eugenia “Gene” Jones, when, after arranging flights with local authorities, the couple landed outside the greater Dallas high school fields to watch their grandchildren play soccer. “Without that helicopter, it would have been impossible to make these games,” says Jones.

Safety has always been a priority. All-glass cockpit of the DC-1 with Helionix avionicsis intuitive and reduces the pilot’s workload. The helicopter terrain awareness and warning system is designed to avoid obstacles in flight. The helicopter with two Saffron Arriel 2E Turbo shaft motors, is also designed for single-engine flights. “It’s a very powerful system,” says Will Fulton, director of marketing at Airbus Helicopters of North America, who notes that the cowboys “spared no expense” in choosing all the safety options available.

The executive helicopter cut Jones’ commute from an hour’s drive to a 13-minute flight.

Jeremiah Jhass

DC-1 is also about branding. America’s Team can still claim the title of Most Valuable Sports Franchise in the World, even though it didn’t win one Super bowl since 1996. Jones understands the entertainment value of DC-1, however The Airbus just as often transports Jones and his players to local airports outside of Dallas to attend Salvation Army fundraisers and other events. “Often times these people aren’t football fans, but if we’re active in these areas, there’s a good chance they’ll see the game on Thanksgiving,” says Jones. “You will have more brand affinity.”

For a man known for his colorful conversation, the billionaire is downright awesome when he talks about his helicopter’s branding bonus.

“I’m joking, but I’m also semi-serious here,” he says. “I’d love to take it and land on every street in Texas. Or maybe five that end up in every ward in the United States. It’s a real attention grabber. “

Adjustments to AML and Digital Foreign money Laws for Reporting Entitles and Cash Service Companies | Bennett Jones LLP

Companies dealing with “virtual currencies” Monetary services company (MSBs) and others Reporting units (REs) to the Canadian Financial Transaction and Reporting Analysis Center (FINTRAC) are subject to new compliance obligations regarding transfers of virtual currencies over CAD 10,000 and keeping KYC (know-your-client) records as an update of the proceeds of The Act on Crime (Money Laundering) and Terrorist Financing (PCMLTFA) and related regulations come into effect on June 1, 2021

As of 2020, MSBs must:

  1. report suspicious Monetary transactions; and
  2. Do another KYC check when converting or transferring money according to regulations.

With effect from June 1, 2021, the above obligations of MSBs extend to transactions in virtual currencies. MSBs are also required care for and Submit Transaction records for transfers of virtual currencies over C $ 10,000 in a single transaction or over C $ 10,000 over several transactions within 24 hours (large VC transactions) and report these large VC transactions to FINTRAC.

In addition, the following KYC obligations will be expanded to apply to all REs:

  1. Business relationships: All REs must determine when a business relationship was established with a customer and keep a record of such business relationships.
  2. Politically exposed people: All REs must determine if customers are “Politically Exposed Persons” and conduct additional risk assessments in relation to those customers.
  3. Advantageous possession: All REs are required to keep records of a company and verify its identity, collect information on ownership, control structure and names of directors.
  4. Ongoing monitoring all KYC information from all REs.

background

The above changes are part of a broader multi-tiered overhaul of the AML regulatory framework aimed at addressing new challenges caused by the emerging cryptocurrency industry in Canada and are in line with aspects of the Canadian Securities Administrator Three year business plan Modernize the regulatory regime for crypto trading and crypto assets in Canada.

The first major revision came into force on June 1, 2020, whereby persons or organizations that “trade in virtual currencies” are required to register as MSB with FINTRAC. This means that those currently engaged in virtual money transfer or exchange services had to already be registered as MSBs. MSBs have ongoing reporting, record keeping, KYC and compliance requirements. The upcoming changes are designed to ensure that the activities of new MSBs from the first update are captured under the general obligations of all MSBs, and to harmonize the ongoing obligations of REs to transactions in virtual currencies in addition to traditional monetary transactions.

As of June 1, 2021, “virtual currency” will be defined in the provisions on the reporting of income from crime (money laundering) and terrorist financing (SOR / 2001-317) as well as in the provisions on income from crime (money laundering) and terrorist financing as follows:

(a) a digital representation of value that can be used for payment or investment purposes that is not fiat currency and that is easily exchangeable for Funds or any other virtual currency that is easily exchangeable for Funds; or

(b) a private key of a cryptographic system that enables a person or organization to access a digital representation of value in accordance with paragraph (a).

Applicable companies trading virtual currencies should take steps to ensure that they will be able to comply with the rules when they go into effect. The Bennett Jones Fintech and blockchain team can advise and support you in managing these and other changes to the crypto regulatory regime.

Remarks:

1. See https://canadagazette.gc.ca/rp-pr/p2/2019/2019-07-10/html/sor-dors240-eng.html and https://canadagazette.gc.ca/rp-pr/p2/2020/2020-06-10/html/sor-dors112-eng.html for the full text of the changes.

Blachowicz Needs Jon Jones Struggle Compares His Type To Adesanya

The light heavyweight champion, Jan Blachowicz, is ready for Jon Jones Keeping his promise after knocking out Corey Anderson some time ago and believes the fight would look similar to the one he just had with the middleweight champion Israel Adesanya.

Overall, it seemed like Blachowicz and Jones were dating as the champ continued to graduate contenders, but that eventually stopped. After much discussion, the light heavyweight king decided to vacate his belt and move up to heavyweight to compete. After a while it passed UFC President Dana White admitted Jon Jones would most likely get the title shot as his first fight in the new weight class.

For a while, Jones became calm and slowly preparing for his new weight class, but now, having seen the Polish champions perform, he needs to be at least a little interested. After all, the fight was a technical masterclass and was ultimately won late in the championship rounds based on combat IQ.

Also, Blachowicz thought that if the two of them stepped into the ring, the fight would look a lot like the fight against Israel Adesanya.

“I don’t know right now. If UFC sends me the contract and I fight Jon Jones, me and my team will find a way to beat him, ”said Blachowicz Just scrap radio on BJPENN.com. “Of course I would try to take him out, but I think it would be a similar fight to mine with Israel.”

Apparently the Polish champions are ready to defend their belt again. However, some competitors deserve shots, such as: Glover Teixeira Maybe we’ll see this pairing soon. If Jones had plans to lose weight again, it would have to be something big, and at this point Blachowicz is not adding to Jones’ legendary status as a second belt would.

Who would you like to see Jan Blachowicz next in the cage? Let us know in the comment section below!

Main U.S. Anti-Cash Laundering Reforms Change into Regulation | Jones Day

This comment and our previous comment “Congress passes major anti-money laundering reforms in the US, “describe the main provisions of the new laws and when they were implemented.

Advantageous possession (Section 6403): CTA discourages the use of Shell companies as a tool to conceal and move illegal funds by establishing uniform federal standards for the disclosure and reporting of beneficial ownership information by corporations, limited liability companies, and similar entities. The CTA requires “reporting companies” to report information to FinCEN to identify individuals who directly or indirectly own or control 25% or more of the ownership interests in the company, as well as those who have “material control” over the company. According to the AMLA, the Minister of Finance must enact the regulations by January 1, 2022. Within one year of issuing these rules, the secretary must revise the FinCEN client due diligence rule. Existing reporting entities must disclose beneficial ownership information to FinCEN within two years of the effective date of the beneficial ownership rules enacted by the Treasury Secretary. After the new regulations come into effect, start-up companies will need to provide beneficial ownership information to FinCEN at the time of incorporation. Reporting Entities must also update their beneficial ownership information within one year of a change in beneficial ownership.

Safe haven for law enforcement cooperation (Section 6306): From January 1, 2021, the GwG will offer financial institutions a safe haven from liability for opening a customer account or a customer transaction upon written application by a federal law enforcement authority, provided that this law enforcement authority grants an advance notification to FinCEN of the intention to address such a written request to the financial institution.

Foreign banking records from US correspondence accounts (Section 6308): The AMLA extends the powers of the Treasury Department and the Department of Justice (“DOJ”) to subpoena documents from a non-US bank that has a correspondence account in the US. The AMLA grants the DOJ the power to subpoena records from non-US banks in relation to correspondent accounts as before, but now includes records from all accounts at the foreign bank that are the subject of US criminal law, civil foreclosures and investigations related to it Are money laundering. The return dates must be specified in these summons. However, prior to the return date, the non-US bank has the option of requesting the competent US district court to lift the subpoena.

FinCEN No-Action Letter Process (Section 6305): According to the AMLA, the FinCEN director must decide in consultation with the Attorney General, the federal and state financial supervisory authorities, as well as other government agencies, whether to set up a procedure for issuing non-action letters upon request from financial institutions in relation to interpretations of the Banking Secrecy Act (“BSA”) and the USA PATRIOT Act. These agencies are required to submit findings and related decisions to the Senate Banking, Housing, and Urban Affairs Committee and House Financial Services Committee by June 30, 2021.

Whistleblower Awards (Section 6314): AMLA is updating whistleblower rewards program in the Treasury to improve the incentives for reporting potential AML violations and to significantly increase the thresholds for awarding rewards. Although this section is self-executing, the Secretary of the Treasury also retains the ability to issue rules and regulations necessary to implement the provisions of this section.

Pilot for cross-border information exchange (Sec. 6212): Under the AMLA, the Ministry of Finance must set up a pilot program for the exchange of SARs and SAR information by financial institutions with their overseas branches, subsidiaries and affiliates, except in sanctioned jurisdictions, by January 1, 2022, to combat illegal activities. The pilot program ends after three years, but the Treasury can extend it for two years.

Anti-Money Laundering / Terrorist Financing (“AML / CFT”) priorities (Section 6101): The Treasury Department, in consultation with the DOJ, Functional Regulators, State Regulators, and National Safety Regulators, must set AML / CFT priorities by June 30, 2021 that are in line with the National Security Strategy. Financial institutions must incorporate these priorities into their AML / CFT programs, and FinCEN has 180 days from setting those priorities to legislate to implement them. FinCEN has to review and update the AML / CFT priorities every four years in consultation with the other regulatory authorities. FinCEN must publish threat patterns and trend information at least twice a year. In order to share these priorities, the GwG calls on FinCEN to communicate regularly with financial institutions and supervisory authorities and to give and receive feedback from them.

Risk reduction through financial institutions (§ 6215): The GwG requires minimum standards to cover risk reduction (avoidance or closure of accounts) for customers with higher risk by financial institutions. By January 1, 2022, the Comptroller General must submit a report on financial services risk reduction to the Senate Banking, Housing, and Urban Affairs Committee and the House Financial Services Committee. Once the report has been submitted, the Minister of Finance, along with other public and private stakeholders, will have to conduct a formal review and propose changes. One year after this analysis has been carried out, the Treasury Secretary must submit a report to the congressional committees with the findings and an ongoing strategy for reducing risk.

FinCEN domestic connection (§ 6107): After coming into force, the GwG authorizes FinCEN to set up an office for domestic connections within FinCEN, which is responsible for contacting BSA officials at financial institutions. By January 1, 2022, and every five years thereafter for five years, the FinCEN director will submit a progress update report to the Senate Banking, Housing and Urban Affairs Committee and the House Financial Services Committee.

FinCEN Foreign Financial Intelligence Liaisons (Section 6108): Upon entry into force, the AMLA expands FinCEN’s international coordination efforts by authorizing FinCEN to set up at least six foreign financial news liaison officers at US embassies to build relationships and encourage engagement with their foreign counterparts. The AML is providing the Treasury with US $ 60 million annually for the next four years to provide technical assistance abroad and to promote compliance with international standards and best practices for the establishment of AMLA / CFT programs.

Innovation officer (§ 6208): After coming into force, the GwG authorizes FinCEN to determine the position of the BSA innovation officer. One year after FinCEN enacts regulations to set up a FinCEN exchange, the FinCEN director must appoint a BSA innovation officer to link public relations with law enforcement agencies and help implement new financial services technologies that further the goals of the BSA. The federal financial service agencies must also determine the position of the BSA innovation officer within their agencies.

Optimization of reporting (Section 6204): The Treasury Department must evaluate SAR and currency transaction reports and send a report to Congress by January 1, 2022, reflecting its findings on reducing the onerous requirements and associated regulatory frameworks. Until 2032, the Ministry of Finance must reassess the reporting thresholds at least every five years and, if necessary, propose regulations (Section 6205).

Older foreign policy figures (§ 6313): With the entry into force of the AMLA, the penalties for concealing or misrepresenting ownership of certain assets will be expanded, with high-ranking foreign policy figures and their immediate family members being prohibited from concealing control over these assets.

Felicity Jones impressed by highly effective Midnight Sky script | Leisure

Felicity Jones signed up for ‘The Midnight Sky’ because she loved the relationship between her and George Clooney’s characters.

In the film, Felicity, 37, plays the astronaut Sully, who learns on a trip back to Earth that humanity has been wiped out and whose only contact is the dying scientist Augustine (Clooney), and Felicity was particularly moved by the last scene between the two .

She told The Hollywood Reporter, “George had already shot his part, so I got to see what was really helpful and then let me know what I was doing on my side. It’s what I loved about the script, when I read it. It is. ” What made me do it was this central relationship the two had to find each other in.

“It was one that I thought about a lot, that I meditated on a lot to prepare. Fortunately, I shot it towards the end of our schedule so I really felt like I had Sully and I knew who she is and can give everything I have.

“In the beginning it was a meditation not only on Augustine’s relationship with Sully, but also on Sully’s relationship with her child. That is why blood is such a feature of the film Chemotherapy does. It’s a kind of understanding of those relationships, of what ultimately matters to us. “

George, 59, scripted Felicity’s pregnancy, and she feels it “should be”.

She said, “It feels like it should always be that Sully would be pregnant in it.”