Chicago hospital stabbing • 100 bags of drugs seized • Officer killed in crash
CHICAGO - Two staff members, including an ER doctor, were injured at Provident Hospital in Chicago on Monday; a Chicago man was allegedly arrested with 108 bags of heroin and fentanyl and four bags of cocaine following a high-speed chase; and a north suburban police officer was killed in a car crash on his way to work.
These are the top stories on Fox 32's Week in Review.
Two staff members were injured by a patient in the emergency department at Provident Hospital on Monday afternoon, including an emergency room doctor who was stabbed in the chest.
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A Chicago man was denied pre-trial release after being arrested with 108 bags of heroin and fentanyl and four bags of cocaine following a high-speed chase through the western suburbs.
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A north suburban police officer was killed in a car crash on his way to work on Sunday morning. Glenview police officer Robert Fryc, 43, died in the crash.
The man charged in connection with his death was allegedly impaired and veered into oncoming traffic, prosecutors said.
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A suspect is in custody after a woman was killed and her two young boys were wounded in domestic-related stabbings that prompted an Amber Alert Friday morning in Chicago.
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Three Cook County residents are being detained after allegedly stealing a high-end SUV and leading police on a high-speed chase earlier this month.
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An Illinois auto shop owner was arrested this week for allegedly selling drugs out of his business. Waukegan police arrested Victor Montes De Oca Lopez, 63, after executing a search warrant at his auto shop on Belvidere Road early Wednesday morning.
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A person died and another was hospitalized after a massive house fire in Naperville Tuesday afternoon. The fire, which broke out around 3:15 p.m., left the home uninhabitable, displacing five people.
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A 20-year-old Vernon Hills woman has been charged after allegedly stabbing her mother in the head early Thursday morning, according to police.
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Five people, including three children, were found dead inside a home in Lake Station, Indiana, on Friday afternoon, police said.
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Researchers have discovered a new coronavirus in Chinese bats. HKU5-CoV-2is a coronavirus belonging to the merbecovirusgroup, which also includes the Middle East respiratory syndrome (MERS) virus.
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Yahoo
5 hours ago
- Yahoo
Obscure Chinese stock scams dupe American investors by the thousands
Braden Lindstrom had only dabbled in investing when he was encouraged by someone impersonating a financial adviser to buy shares in a small Chinese company listed on the Nasdaq Stock Market. A few clicks later, he was on his way to being scammed out of $80,000. Lindstrom, a college professor in Utah, invested in Jayud Global Logistics (JYD), a small Chinese shipping company whose price rose for months, then crashed 96%, just after Americans like him were told to buy it. Wall Street veterans say the pattern has been repeated dozens of times in recent years, and feeds on tiny Chinese stocks that are vulnerable to manipulation and easily bought by U.S. investors. Red vs. Blue Is Dividing Stock Portfolios Like Never Before How to Say No at Work America's Last Mall King Is Still in Charge, Even After a Deadly Diagnosis Southwest Airlines Adds Cockpit Alerts to Boost Runway Safety 'Why Am I Doing This?' These Investors Are Locking In Stock Gains While They Can. Traders and investigators say it has become an epidemic of fraud, frustrating U.S. regulators who typically can't get access to evidence in China, even though the companies market their stock to investors in the U.S. The Justice Department is now involved with fighting the fraud, which resembles a pump and dump, declaring it a priority of the Trump administration's white-collar enforcement program. The department 'has stood up a team to identify and root out these bad actors, deter misconduct, and, where possible, recover victim funds,' said Matthew Galeotti, the head of the Justice Department's criminal division. Victims are typically recruited through social-media ads or messages on WhatsApp advertising investment advice. Unlike as in many other online scams, they are told to buy shares in real companies, often obscure Chinese firms that fizzled after going public on U.S. stock exchanges. The investors are duped into believing the company is on the verge of something big, perceptions that are reinforced by short-term gains in share prices engineered through manipulative trading. The sellers are often a ring of traders who bought the stock at much cheaper prices, sometimes directly from the companies, and want to dump it on the unsuspecting victims. Nearly 60 China-based companies have conducted initial public offerings on Nasdaq since 2020 that each raised $15 million or less. More than one-third have experienced sudden one-day price drops of 50% or more over the past two years, according to FactSet data. Another 17 listed companies based in Hong Kong have lost half of their market value in a single day. The Financial Industry Regulatory Authority warned in 2022 that small IPOs involving such companies were often a prelude to fraud. Such offerings were supposed to broadly market shares to new investors. But they could instead be placed with insiders or affiliates of the company, and manipulative trading often appeared soon after the IPOs, according to Finra. 'We're seeing this across the landscape,' said Bryan Smith, a senior vice president for complex investigations at Finra, which supervises stock brokerages. One recent criminal case, involving China Liberal Education Holdings, illustrates how an alleged fraud occurs. China Liberal, which said it ran international-study programs for Chinese college students, disclosed in December that it raised almost $21 million from 30 big investors, who agreed to purchase 160 million shares for about 13 cents each, according to securities filings. But some of those investors were involved in a pump and dump that defrauded 600 victims, according to an indictment issued in March. Seven of the big buyers quickly moved their shares to U.S. brokerage firms. Recruiting investors through Facebook ads and WhatsApp texts, they unloaded over 50 million shares, earning over $480 million, according to the indictment. The Chicago U.S. attorney's office in March seized about $214 million, or under half of the allegedly illegal proceeds, after a brokerage firm alerted Finra of potential fraud. The seven traders, five from Malaysia and two from Taiwan, were charged with wire fraud and securities fraud over their sales of China Liberal Education Holdings stock. Nasdaq suspended China Liberal's stock from trading on June 3. Lindstrom, the college professor, is one of five people interviewed by The Wall Street Journal who said they were fooled by advertisements on Facebook or Instagram that told them to buy Jayud Global Logistics. The promoters sometimes referred to Jayud as 'Cash Cow 5' and said its price would skyrocket after it was acquired by a bigger shipping company, Matson. Lindstrom invested $82,000 in late March. The price touched $8 on April 1. After the market closed that day, Jayud's stock price crashed to under $1. The administrator of Lindstrom's WhatsApp group told him he could make up his losses by buying more shares of a different Chinese company, Nasdaq-listed Lixiang Education Holding. He didn't fall for the second swindle, but some did. Lixiang's price fell on April 17 from $23 to $7. It trades now at $2. 'It just kind of puts a dent in your faith in human nature,' Lindstrom said. Another investor in Northern California, a 45-year-old commercial property manager, said he lost $320,000 betting on Jayud. A different investor from Missouri lost $54,000. He said he believed that Meta, which owns Facebook, would block stock scams from advertising. Meta said it is experimenting with new tools, such as facial-recognition technology, designed to block complex scams. 'Addressing this crime requires collaboration between banks, governments, law enforcement and telecoms,' a spokeswoman said. Lindstrom and the others formed a support group of about 96 Jayud investors who collectively lost about $9 million, he said. Nasdaq says it has made it harder in recent years for risky companies to remain listed on its exchange. In January, for instance, Nasdaq accelerated the process for delisting some companies whose share price falls under $1. 'Nasdaq takes its regulatory responsibilities seriously,' Nasdaq said in a statement. 'Where Nasdaq does not have principal authority, such as cross-market trading activity, we proactively work with other regulators and enforcement agencies to help address instances of market manipulation.' Authorities have recently focused on suspicious trading in the shares of several other China-based companies, including Lixiang and NetClass Technology, according to people familiar with the matter. A spokesman for NetClass said the company can't explain recent volatility in its share price but is committed to providing investors with information they need to assess the company's performance and future outlook. NetClass (NTCL) went public in December, pricing its shares at $5 and raising about $10 million, according to securities filings. The share price rose steadily until early May, when it reached an intraday peak of $51 on a frenzy of trading. The price collapsed a few days later. It now trades just above $2. Such volume spikes attract new buyers—and short sellers, who bet that the price will have to fall, said Nathan Michaud, a professional trader who has called attention to the schemes on social media. But the short sales, he said, can inadvertently further fuel a fraud. If the promoters push the price higher, short sellers scramble to buy shares to replenish the ones they borrowed, boosting the price even more. 'I think they realized it is harder to fool people into buying stock, and easier to trap people into shorting stock,' Michaud said. 'The only way you can absolutely kill your career is by trading these.' Write to Dave Michaels at Victoria's Secret Is Under Mounting Pressure From Latest Activist Investor Chinese Spenders Open Wallets as Factories Slow What's Behind PayPal's Will Ferrell Ads? How Stablecoins Can Be Destabilizing Santos Gets $18.72 Billion Takeover Offer From Adnoc-Led Consortium By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Sign in to access your portfolio
Time Magazine
8 hours ago
- Time Magazine
With a Distracted U.S., Hong Kong Intensifies Its Democratic Crackdown
There's so much going on in the world—a new war between Israel and Iran, ongoing wars in Gaza and Ukraine, tariffs upending the global economy, riots in Los Angeles, planes falling out of the sky, political violence and terrorist attacks —it can be hard to know where to look. Experts say that's what authorities in Hong Kong may be counting on, as they intensify a democratic crackdown in the semi-autonomous Chinese region, quietly building off of moves that began years ago to align the once-democratic stronghold with the more authoritarian government of Beijing. On June 12, Hong Kong authorities conducted a joint operation with China's national security officials in the city, raiding the homes of six people and the office of an organization suspected of 'collusion with a foreign country or with external elements to endanger national security.' Just days before, Hong Kong police warned against downloading a 'seditious' mobile video game deemed to be 'endangering national security.' And on June 10, the city's leader, John Lee, said Hong Kong will ramp up 'national security' screenings of food and entertainment establishments. Since the Chinese Central Government passed a controversial law in 2020 in response to widespread anti-establishment protests the year before, Hong Kong has steadily transformed from a place known for freer expression to one that Benedict Rogers, a British human rights activist focused on Asia, described last month as a ' police state.' When the law, which penalizes a swathe of actions deemed critical of Hong Kong and China, was passed, officials from both parties in the U.S. at the time saw it as an infringement on democratic rights, and the U.S. imposed sanctions to try to mitigate the effects. Trump's second-term Administration, however, has said little about what's unfolding in Hong Kong. Secretary of State Marco Rubio said in March that 'Beijing has broken its promises to the people of Hong Kong' amid the crackdowns, and on March 31, the State Department sanctioned six individuals related to the erosion of freedom in Hong Kong, including national security officials and the city's former police commissioner. But critics say the U.S. response seems to end there, and the latest wave of actions in June have not been addressed. The turmoil around the globe may be proving helpful for Hong Kong to fasttrack its crackdown. Eric Yan-ho Lai, a research fellow at the Georgetown Center for Asian Law, tells TIME that 'the rising geopolitical tensions, particularly between the U.S. and China, has favoured the Hong Kong government to expand national security governance in the city.' Lai also said the latest developments show that Hong Kong officials have since shifted to 'executive-led' regulatory approaches to quell dissent, rather than arrests en masse. Under Trump's second-term Administration, U.S. policy has so far focused on China, with Hong Kong often lumped in with the mainland. For example, enhanced scrutiny of Chinese students' visas also covered those from Hong Kong. Hong Kong was also included in U.S. tariffs on Chinese goods. Experts previously told TIME that Trump's second-term Administration, in hopes of negotiating with China on priorities like trade, may avoid measures aimed at non-economic areas, such as China's domestic democratic and human-rights concerns, that could potentially ruffle Trump's relationship with Chinese President Xi Jinping. Ja Ian Chong, associate professor of political science at the National University of Singapore, tells TIME he thinks members of the Trump Administration like Rubio are 'aware' of what's happening in Hong Kong but that the Administration is 'most focused' at the moment on its own domestic issues. On that front, Beijing may also benefit, observers have noted in recent days, as increasingly authoritarian-resembling moves by the Trump Administration, including sending troops to quell protests in Los Angeles earlier this month and hosting a military parade over the weekend, cast the U.S. as comparatively hypocritical and weak, according to Chinese media. Said one state-run outlet about Saturday's lackluster parade: 'Democracy is struggling in the mud.' As Alex Colville and David Bandurski of the China Media Project put it: 'Trump's assault on democratic norms is an unexpected gift for China's leaders, and one that may in the long term prove costlier than any trade war or diplomatic standoff.'
Yahoo
2 days ago
- Yahoo
Army deletes video of DC parade tanks with 'Hang Fauci & Bill Gates' graffiti
A now-deleted Army video of tanks being loaded onto a train to Washington, D.C., to appear in the massive June 14 military parade for the Army's 250th anniversary showed a graffitied message spray-painted on the side of the train car – "Hang Fauci & Bill Gates." The video, posted to the Army's X account on Saturday, has since disappeared. It showed an M1A2 Abrams – a 70-ton battle tank – rolling onto a train car at Fort Cavazos in Texas. The death threat to Fauci and Gates – two people who have drawn the ire of President Donald Trump's MAGA base – was painted on a train car marked DODX, property of the Defense Department. Steve Warren, an Army spokesperson, said the Army has no plans to investigate. "We removed the post once notified of graffiti on the train that didn't align with Army values," he said. "We are excited to celebrate 250 years of service to the nation next week." Dr. Anthony Fauci, who led the government's response to COVID during Trump's first term, and Bill Gates, the billionaire Microsoft founder, are frequent targets of criticism from Republicans and Trump's supporters. Fauci has said he received a deluge of death threats and harassment since he became a magnet for right-wing outrage as the head of the National Institute of Allergy and Infectious Diseases during the Pandemic, making him the public face of many pandemic social distancing policies and the COVID vaccine. Republicans have accused him of funding the Chinese government to create the virus and conservative firebrand Rep. Marjorie Taylor Greene said he "belongs in prison." "I still think deep down that there's a possibility that somebody's going to kill me," Fauci told USA TODAY in a 2024 interview. Former President Joe Biden issued a preemptive pardon for Fauci before he left office, anticipating that Trump would seek revenge against the doctor. Days into his second term, Trump pulled federal funding for Fauci's security detail. Gates, a Democratic Party donor who contributed millions to Kamala Harris' presidential campaign, also frequently pops up in some conspiracy theories. He has funded vaccination campaigns in poor countries, fueling online speculation that his vaccines contain microchips to track people. The tank in the video was one of 28 tanks and more than two dozen armored vehicles making the weeks-long, cross-country journey to appear in the Army's 250th anniversary parade in the nation's capital on June 14. The tanks and vehicles will be unloaded from the train cars on June 9 in Jessup, Maryland, and transported to downtown Washington by truck. More: Trump's getting his military parade. Here's what they look like from France to Russia The Army is also laying down steel plates on spots in the parade route where the tanks will turn to protect the roads and has said it will pay for any damage they sustain. Washington Mayor Muriel Bowser said on May 29 she is still "concerned" about road damage. The parade has faced scrutiny for conspicuously falling on President Donald Trump's birthday – also June 14. Trump pushed for a military parade during this first term but canceled his plans after pushback from Democrats and local politicians over the cost and logistics. This time around, the parade is estimated to cost as much as $40 million. Around 7,000 soldiers will also arrive in Washington for the occasion, which will also feature historic warplanes, helicopters, parachutists, and a bevy of events and entertainment. This article originally appeared on USA TODAY: Army scrubs vid of parade tank with 'Hang Fauci & Bill Gates' graffiti
