logo
California man sentenced for brothel operation in eastern Va., Boston

California man sentenced for brothel operation in eastern Va., Boston

Yahoo29-05-2025
BOSTON, Ma. (DC News Now) — A California man was sentenced in federal court in Boston for his involvement in a sophisticated high-end brothel in the eastern Virginia and Boston area, according to a release.
70-year-old James Lee was sentenced to more than two years in prison with three years of supervised release.
Woman shot at CIA headquarters in McLean charged with DUI; court documents
From at least January 2022 through November 2023, James Lee conspired with two others, identified as Han Lee and Junmyung Lee, to operate a prostitution network with multiple brothels in eastern Virginia and Boston.
James Lee rented several high-end apartments as the sole tenant to use as brothel locations, using his own name as well as fraudulent or stolen identities. Han Lee paid James Lee around $1,000 per month for each active lease.
Han Lee also served as a liaison between the women working in the units and the property managers by fielding calls and coordinating any issues that arose relating to maintenance and inspections.
James Lee and his co-conspirators knowingly conspired with one another to launder the proceeds of the prostitution network by concealing that the money was derived from the prostitution conspiracy.
James Lee was arrested and charged in November 2023 with his co-defendants. The defendants were subsequently indicted by a federal grand jury in February 2024.
Onlookers rescue fawn found on roadway in Carroll County
In February of 2025, James Lee pleaded guilty to one count of conspiracy to persuade, induce, entice and coerce one or more individuals to travel in interstate or foreign commerce to engage in prostitution; one count of money laundering conspiracy; and one count of wire fraud.
James Lee was also sentenced for his involvement in fraudulently obtaining over $580,000 in COVID-19 relief funds. The Court ordered restitution in the amount of $569,123 in connection with the fraudulently obtained COVID-19 funds and a money judgment of $63,000 related to the proceeds earned by the defendant as a result of the prostitution conspiracy.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Wall Street steadies after Nvidia, Palantir and other AI stars trim their losses
Wall Street steadies after Nvidia, Palantir and other AI stars trim their losses

Los Angeles Times

time18 minutes ago

  • Los Angeles Times

Wall Street steadies after Nvidia, Palantir and other AI stars trim their losses

Stock indexes ended mixed on Wednesday after Nvidia, Palantir and other superstar stocks pared most of their steep losses from the morning. The S&P 500 dipped 0.2% after trimming a loss that reached 1.1% earlier in the day and remains near its all-time high set last week. The Dow Jones Industrial Average added 16 points, or less than 0.1%, and the Nasdaq composite fell 0.7%. The day's action centered again around stocks caught up in the mania around artificial-intelligence technology. Nvidia, whose chips are powering much of the world's move into AI, sank as much as 3.9% during the morning and was on track to be the heaviest weight on Wall Street following its 3.5% fall on Tuesday. But it clawed back nearly all of Wednesday's drop and finished with a dip of just 0.1%. As it pared its loss, so did broad market indexes because Nvidia is Wall Street's most influential stock by being its most valuable. Palantir Technologies, another AI darling, fell 1.1% to add to its 9.4% loss from the day before, but it had been down as much as 9.8% Wednesday morning. One possible contributor to the swoon was a study from MIT's Nanda Initiative that warned that most corporations are not yet seeing any measurable return from their generative AI investments, according to Ulrike Hoffmann-Burchardi, global head of equities at UBS Global Wealth Management. But the larger factor may be the simple criticism that prices for such stock simply shot too high, too fast, amid the furor around AI and became too expensive. Nvidia, whose profit report scheduled for next week is one of Wall Street's next major events, had soared 35.5% for the year so far heading into Tuesday. Palantir had surged even more, more than doubling. The tech stocks still have supporters, though, who say AI will bring the next generational revolution in business. Mixed profit reports from big U.S. retailers helped keep the rest of the market in check. TJX, the company behind the TJ Maxx and Marshalls stores, climbed 2.7% after beating analysts' forecasts for profit and revenue. It also raised its forecast for profit over its full fiscal year, while CEO Ernie Herrman said TJX is seeing 'strong demand at each of our U.S. and international businesses' and that its current quarter is off to a strong start. Lowe's added 0.3% after the home-improvement retailer delivered a profit for the latest quarter that topped analysts' expectations. Target, meanwhile, tumbled 6.3%. The struggling retailer said that CEO Brian Cornell plans to step down Feb. 1 and that an insider, 20-year veteran Michael Fiddelke, will replace him. He helped reenergize the company, but it has struggled to turn around weak sales in a more competitive post-COVID retail landscape. Estee Lauder dropped 3.7% after offering a forecast for profit this upcoming fiscal year that fell short of Wall Street's estimates. The beauty company said it expects tariffs to shave roughly $100 million off its upcoming earnings. La-Z-Boy sank 12.1% after the furniture maker's profit and revenue for the spring came up shy of analysts' expectations. All told, the S&P 500 fell 15.59 points to 6,395.78. The Dow Jones Industrial Average added 16.04 to 44,938.31, and the Nasdaq composite fell 142.10 to 21,172.86. The week's biggest news for Wall Street is likely arriving on Friday, when Federal Reserve Chair Jerome Powell will give a highly anticipated speech in Jackson Hole, Wyoming. The hope on Wall Street is that Powell will hint that cuts to interest rates are coming soon. The Fed has kept its main interest rate steady this year, primarily because of the fear of the possibility that President Donald Trump's tariffs could push inflation higher. But a surprisingly weak report on job growth across the country may be superseding that. Treasury yields have come down sharply on expectations for an easing of interest rates, and the yield on the 10-year Treasury fell to 4.29% from 4.30% late Tuesday. Trump has been angrily calling for lower interest rates, often insulting Powell personally while doing so. Trump on Wednesday called on a top official at the Federal Reserve, Lisa Cook, to resign after a member of his administration accused her of committing mortgage fraud. In stock markets abroad, indexes were mixed across Europe and Asia. London's FTSE 100 rose 1.1% despite a report that said inflation in the U.K. rose more than expected through July, in part due to soaring airfares and food prices. Hong Kong's Hang Seng added 0.2%. Shares that trade there of the Chinese toy company Pop Mart International Group soared 12.5% after its CEO said its annual revenue could top $4 billion this year and announced the release of a mini version of its popular Labubu dolls. Choe writes for the Associated Press.

Cantor Equity Partners IV, Inc. Announces Pricing of $400 Million Initial Public Offering
Cantor Equity Partners IV, Inc. Announces Pricing of $400 Million Initial Public Offering

Business Wire

time18 minutes ago

  • Business Wire

Cantor Equity Partners IV, Inc. Announces Pricing of $400 Million Initial Public Offering

NEW YORK--(BUSINESS WIRE)--Cantor Equity Partners IV, Inc. (Nasdaq: CEPF) (the 'Company') announced today the pricing of its initial public offering of 40,000,000 Class A ordinary shares at $10.00 per share. The shares are expected to be listed on the Nasdaq Global Market under the symbol 'CEPF' and begin trading on August 21, 2025. The underwriters have been granted a 45-day option to purchase up to an additional 6,000,000 shares offered by the Company to cover over-allotments, if any. The offering is expected to close on August 22, 2025, subject to customary closing conditions. Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. About Cantor Equity Partners IV, Inc. Cantor Equity Partners IV, Inc. is a blank check company sponsored by Cantor Fitzgerald and led by Chairman and Chief Executive Officer Brandon Lutnick. Cantor Equity Partners IV, Inc. was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region, but the Company intends to focus on a target in an industry where it believes the Company's management teams' and affiliates' expertise will provide the Company with a competitive advantage, including the financial services, digital assets, healthcare, real estate services, technology and software industries. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the 'SEC') on August 20, 2025. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor New York, New York 10022; Email: prospectus@ Copies of the registration statement can be accessed through the SEC's website at This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the successful consummation of the Company's initial public offering and use of the net proceeds of the offering as described in the offering prospectus, are subject to risks and uncertainties including those set forth in the Risk Factors section of the Company's registration statement for the offering filed with the SEC, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Mid-sized US cities dominate ranking of emerging business destinations
Mid-sized US cities dominate ranking of emerging business destinations

USA Today

timean hour ago

  • USA Today

Mid-sized US cities dominate ranking of emerging business destinations

American Express has released new travel data revealing emerging cities for business trips, and the results may surprise you. In a report released last month, the company analyzed year-over-year growth in hotel and airline transactions among commercial customers. American Express's report made no mention of bustling coastal markets like New York, Los Angeles or San Francisco, but rather several mid-sized cities were included in list of the emerging business travel areas, a handful of which have experienced population growth in recent years. According to the company, these cities are rising in popularity as business travel destinations. Richmond, Virginia A hub for several Fortune 500 companies, like Performance Food Group, CarMax, Altria and Dominion Energy, American Express says it has seen an increase in companies flocking to the southern city due to incentive-based business expansion legislation. Virginia has exceeded $100 billion in capital investment commitments from company expansions statewide, Gov. Glenn Youngkin said in a news release in March. Richmond is undergoing developments in the Richmond Diamond District, which will transform 67 acres into a neighborhood to keep up with demand. Another project will target the City Center Innovation District to accomplish similar goals, making the city more attractive to businesses. Columbus, Ohio Home to over 240 startups, Columbus has managed to attract several biotech and technology companies specializing in AI innovation. Census data from this year shows Columbus is major driver of growth in the Midwest, with a growing population that nears 1 million. Charleston, South Carolina Charleston, known for its stunning beaches and charming historic architecture, has experienced a boom of tech, aerospace and automotive companies flocking to set up hubs there, Amex notes. It recently hit a record of $14.03 billion generated from tourism in 2024, a 7.1% increase from the prior year and businesses are taking notice. Ingevity, a company that markets and manufactures specialty chemicals, announced last year it is investing $53 million over five years in its Charleston County manufacturing facility. "Ingevity's $53.3 million investment in their Charleston County facility underscores their confidence in our community," said Charleston County Council Chairman Herbert Ravenel Sass III at the time of the announcement. "This significant commitment reflects the strength of our partnership and highlights Charleston County as a leader in fostering innovation and sustainable growth." Boise, Idaho This city experienced rapid growth during and after the COVID-19 pandemic. According to moving data from HireAHelper, four times as many people moved to Boise, Idaho than left it in 2020. The migration primarily stemmed from people in western states moving to the area. In 2020, the city's population was about 230,000 and has since increased to roughly 237,000. That rapid increase has business leaders setting up shop in the city, with companies in the software, cleantech and outdoor lifestyle industries expanding their presence in Boise. New Orleans Walkability, a compact layout, and unique culture is what's driving business to New Orleans, American Express reports. Additionally, city leaders have taken steps to increase ongoing infrastructure enhancements at local venues. Those investments are expected to attract more conventions, create jobs and boost the local economy. Last week, 1834 Ventures, an early-stage venture capital firm, announced the launch of the inaugural $20 million fund to invest in startups found by alumni of Tulane University, one of the city's universities, further bolstering economic mobility. 1834 Ventures is channeling the funds into Louisiana "with the goal of building a more vibrant startup ecosystem" and "diversifying the state's economy," according to a news release from Louisiana Economic Development. Michelle Del Rey is a trending news reporter at USA TODAY. Reach her at mdelrey@

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store