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Sunday, July 28, 2024
Montenegrin Citizen Extradited from Italy to Face Maritime Narcotrafficking Charges
Defendant and His Co-Conspirators Allegedly Attempted to Load Tons of Cocaine Aboard a Container Ship in Ecuador and the Coast of Colombia
Milos Radonjic, a citizen of Montenegro, also known as “Pirate of the Unknown,” was extradited to the Eastern District of New York from Italy. Radonjic, who is charged in a superseding indictment with conspiracy and attempt to violate the Maritime Drug Law Enforcement Act, had previously been arrested in Italy on October 6, 2023 pursuant to a provisional arrest warrant, after entering the country to compete in an international yacht race in which he was to captain a racing yacht. Radonjic will be arraigned in federal court in Brooklyn on Monday, July 29, 2024, before United States Magistrate Judge Cheryl L. Pollak.
Breon Peace, United States Attorney for the Eastern District of New York, Ivan J. Arvelo, Special Agent in Charge, U.S. Department of Homeland Security, Homeland Security Investigations (HSI), New York, and David J. Scott, Special Agent in Charge, Federal Bureau of Investigation (FBI), Washington Field Office Criminal and Cyber Division, announced the extradition.
“This arrest and successful extradition is a lesson that the high seas are not a no-man’s land for the rule of law, and that we are committed to bringing those who violate it to justice,” stated United States Attorney Peace. “Working together with our law enforcement partners and allies around the world, this Office will continue to pursue narcotraffickers who seek to corrupt the critical infrastructure of global shipping to transport their poisonous cargo to our communities.”
Mr. Peace expressed his appreciation to the United States Marshals Service, the United States Department of State, and Italian law enforcement and prosecutorial authorities, including the Ministry of Justice. The Justice Department’s Office of International Affairs provided valuable assistance with securing the arrest and extradition of Radonjic.
HSI New York Special Agent in Charge Ivan J. Arvelo said: “The defendant’s alleged efforts to utilize the open ocean to transport tons of cocaine were no match for the versatile investigative capabilities of HSI and our law enforcement partners. HSI New York’s El Dorado Task Force is committed to leveraging our international footprint to protect the innocent public – at home, abroad, and in whatever capacity possible. We will relentlessly pursue transnational criminal organizations and their efforts to flout the laws vital to ensuring our communities’ safety and wellbeing.”
“Radonjic and his co-conspirators allegedly transported tons of cocaine across the world using commercial cargo vessels," stated FBI Special Agent in Charge Scott. “His extradition is a testament to global multiagency efforts to disrupt transnational criminal organizations who traffic drugs by air, land, or sea.”
According to the indictment and court filings, in 2020, Radonjic was a high-ranking member of a large-scale transnational criminal organization that trafficked tons of cocaine across the world using commercial cargo vessels traversing the high seas. Radonjic communicated and coordinated with multiple co-conspirators to arrange multi-ton shipments of cocaine from South America to the Balkans and elsewhere. Radonjic allegedly organized three separate attempts, with the assistance of a corrupt crew member on a commercial cargo vessel, to load a container ship with more than 2,500 kilograms of cocaine in Ecuador and off the coast of Colombia.
The charges in the indictment are allegations, and the defendant is presumed innocent unless and until proved guilty. If convicted, the defendant faces a mandatory minimum of 10 years’ imprisonment and up to life in prison.
The extradition of Radonjic is the result of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.
Release of Body Worn Camera Footage from an Officer Involved Shooting that Occurred on June 1, 2024 in the confines of the 23rd Precinct
The NYPD is releasing today body-worn camera footage from an officer-involved shooting that occurred on June 1st, 2024 in the confines of the 23rd Precinct..
The video includes available evidence leading up to the incident as well as during the incident. The NYPD is releasing this video for clear viewing of the totality of the incident.
All NYPD patrol officers are equipped with body-worn cameras. The benefits of cameras are clear: transparency into police activity, de-escalation of police encounters and accountability for police officers, through an independent account of interactions between the police and the citizens they serve. Body-worn cameras serve as a vital part of ongoing efforts to increase trust between the police and all New Yorkers.
Statement from Speaker Adams on Mayor’s Charter Revision Commission Approving Rushed Ballot Proposals to Amend City Charter
“The Mayor’s Charter Revision Commission’s proposed changes to the City’s constitution represent a power grab that will make government less responsive to New Yorkers by consolidating even more power to the mayor and his agencies. The Commission’s failure to come close to the standards within its own proposals, let alone basic levels of transparency, is utter hypocrisy and denies any public input on the final proposals while approving them just two days after release to the public. This will undermine our local democracy and protections established by oversight that ensure government serves New Yorkers and keeps our communities safe. The Mayor’s Commission is not only blocking voters’ rights to decide on the existing advice-and-consent proposal on the November ballot, but is also taking away the will of the voters who elected 51 Council Members to represent them. This cynical attempt to weaken our city’s representative democracy must be completely rejected.”
Activist Short Seller Charged for $16M Stock Market Manipulation Scheme
A federal grand jury in the Central District of California returned an indictment charging a prominent activist short seller with multiple counts of securities fraud for a long-running market manipulation scheme reaping profits of at least $16 million.
According to the indictment, Andrew Left, 54, formerly of Beverly Hills, California, and now a resident of Boca Raton, Florida, was a securities analyst, trader, and frequent guest commentator on cable news channels such as CNBC, Fox Business, and Bloomberg Television. Left conducted business under the name “Citron Research” (Citron), an online moniker he created as a vehicle for publishing investment recommendations. Citron’s online presence included a website and a social media account on X, formerly known as Twitter.
As alleged in the indictment, Left commented on publicly traded companies, asserting that the market incorrectly valued a company’s stock and advocating that the current price was too high or too low. Left’s recommendations often included an explicit or implicit representation about Citron’s trading position—which created the false pretense that Left’s economic incentives aligned with his public recommendation—and a “target price,” which Left represented as his valuation of the company’s stock. Sometimes, the commentary represented Left’s own work. Other times, Left disseminated the commentary of third parties as his own. The commentary routinely included sensationalized headlines and exaggerated language to maximize the reaction it would get from the stock market. As alleged, Left knowingly exploited his ability to move stock prices by targeting stocks popular with retail investors and posting recommendations on social media to manipulate the market and make fast, easy money.
As further alleged in the indictment, in the leadup to publication of Citron’s commentary, Left established long or short positions in the public company on which he was commenting in his trading accounts and prepared to quickly close those positions post-publication and take profits on the short-term price movement caused by his commentary. Left allegedly used his advance knowledge and control over the timing of a market-moving event to build his positions using inexpensive, short-dated options contracts that expired from the same day that he published his commentary to within five days. Left also allegedly submitted limit orders, often prior to publication of his commentary, to close his positions as soon as the company’s shares reached a certain price and at prices vastly different from the target prices that Left recommended to the public. While Left made false representations to the public to bolster his credibility, behind the scenes, Left allegedly took contrary trading positions to reap quick profits off the stocks he either promoted or pilloried through Citron.
To further the scheme, Left allegedly advanced the false pretense that his investment recommendations were credible because he was independent and free from any financial conflicts of interest. However, Left allegedly concealed Citron’s financial relationships with a hedge fund by fabricating invoices, wiring payments through a third party, and making false and misleading statements to the public about Citron’s relationship with hedge funds. In addition, Left allegedly lied to law enforcement, stating that Citron “never” exchanged compensation with a hedge fund or coordinated trading with a hedge fund in advance of the issuance of its commentary.
Through his publishing of research reports, Left gained influence and a public platform on social media and through regular appearances on podcasts and cable news programs. Left allegedly furthered his scheme by misrepresenting his trading positions during media appearances. For example, after denouncing one company as a “fraud” on CNBC’s “Fast Money,” Left allegedly falsely claimed to have covered only a “small size” of his position in the company’s stock when, earlier that same day, he allegedly closed out more than sixty percent of his position.
Left is charged with one count of engaging in a securities fraud scheme, 17 counts of securities fraud, and one count of making false statements to federal investigators. If convicted, he faces a maximum penalty of 25 years in prison on the securities fraud scheme count, 20 years in prison on each securities fraud count, and five years in prison on the false statements count.
Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division; U.S. Attorney Martin Estrada for the Central District of California; Executive Assistant Director Michael A. Nordwall of the FBI’s Criminal, Cyber, Response, and Services Branch; Assistant Director in Charge Akil Davis of the FBI Los Angeles Field Office; and Inspector in Charge Eric Shen of the U.S. Postal Inspection Service (USPIS) Criminal Investigations Group made the announcement.
The FBI Los Angeles Field Office and USPIS are investigating the case.
Trial Attorneys Lauren Archer and Matthew Reilly of the Criminal Division’s Fraud Section and Assistant U.S. Attorneys Brett Sagel and Alexander Schwab for the Central District of California are prosecuting the case.
The Fraud Section uses the Victim Notification System (VNS) to provide victims with case information and updates related to this case. Victims with questions may contact the Fraud Section’s Victim Assistance Unit by calling the Victim Assistance phone line at 1-888-549-3945 or by emailing victimassistance.fraud@usdoj.gov. To learn more about victims’ rights, please visit www.justice.gov/criminal-vns/victim-rights-derechos-de-las-v-ctimas.
An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.