Latest news with #MSCO
Yahoo
a day ago
- Yahoo
Largest fentanyl bust in Georgia history could impact Columbus
COLUMBUS, Ga. () — A multi-agency drug bust in Metro Atlanta took thousands of fentanyl-laced pills and drug distribution equipment off the street, in the largest fentanyl seizure in the state of Georgia to-date. WRBL spoke to local law enforcement about how this could impact the Columbus community. 'I think that a lot of people are tired from seeing the bad things that drugs can do, not only to the community but to even family members,' said Muscogee County Sheriff Greg Countryman, adding that fentanyl is one of the leading cause of suicide deaths in Columbus and the state. He continued, 'That drug bust, it saved a bunch of lives.' Convicted felon and Atlanta resident 47-year-old Bartholomew Keeton Harralson was arrested. He faces multiple firearm and drug charges, including intent to distribute fentanyl, methamphetamine, cocaine and more. 'I would like to highlight the total amount of fentanyl seized,' said Jae Chung, acting special agent in charge at the Atlanta division of the D.E.A. 'Approximately 97 kilograms in powder- and pill form, which have the potential lethal dose to kill approximately 48 million Americans.' During the Atlanta bust, 28 firearms were also seized. 'Anything dealing with dealing with drugs, you're going to normally find guns. And so where you find guns, that there is a possibility of violence,' Countryman said. He anticipates the Atlanta bust will impact the cost and availability of fentanyl locally. In general, the sheriff hopes targeting illicit drug availability in Columbus could also lead to violence reduction. Countryman said MSCO will continue working with other local law enforcement agencies to tackle drug-related crime in Columbus. 'We're not going to stop until the criminal behavior stops. … But as long as they are going, we're going to bring the fight to them,' Countryman said. 'We're going to turn up the heat and we're not going to run from it. We have the resources, we have the collaboration, and we have fresh legs on the ground.' According to Countryman, local law enforcement has seized more than $311 million dollars of illicit drugs in the past four years. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Wire
13-05-2025
- Business
- Business Wire
Siebert Reports First Quarter 2025 Financial Results
MIAMI--(BUSINESS WIRE)-- Siebert Financial Corp. (NASDAQ: SIEB) ('Siebert'), a diversified provider of financial services, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial and Operational Highlights* Total revenue increased 41% to $28.9 million, compared to $20.5 million in the first quarter of 2024, primarily driven by an unrealized gain of $9.2 million related to an equity investment. The unrealized gain was recorded with respect to shares in a U.S private company that Siebert purchased prior to the issuer's initial public offering, which shares were revalued following the initial public offering. These shares are currently subject to resale restrictions, and due to market volatility, including a significant decrease in price subsequent to March 31, 2025, and uncertainty around registration timing, the investment's fair value may significantly impact future financial results. Operating income increased 106% to $10.5 million, compared to $5.1 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment. Stock borrow / stock loan increased by 18% to $4.8 million, compared to $4.1 million in the first quarter of 2024. Net income available to common stockholders increased 135% to $8.7 million, compared to $3.7 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment. Recent Business Highlights Appointed Stefano Marrone as Chief Marketing Officer to oversee marketing for all divisions and drive initiatives that bridge entertainment and financial literacy for our clients. Appointed industry veteran Fredrick Scuteri as Chief Operating Officer of Muriel Siebert & Co., LLC ('MSCO') to oversee day-to-day operations, trading infrastructure, and platform modernization. Management Commentary* 'The first quarter of 2025 was marked by continued investment in talent and our emerging business lines,' said Chairman and CEO John J. Gebbia. This quarter reflects disciplined execution of our broader strategic vision, and we're encouraged by the early signs of value being created through our investments in talent and innovation-driven initiatives. We are also excited to welcome industry veterans, Stefano Marrone as CMO and Fredrick Scuteri as COO of MSCO, to the Siebert family as they bring a wealth of experience and add significant value to our strategic initiatives for 2025 and beyond.' Andrew Reich, CFO of Siebert, added: 'We continue to invest in our personnel and technology to be able to grow and scale our businesses while supporting new business lines. While our results for the quarter also benefited from a $9.2 million unrealized gain tied to a strategic equity investment, the value of this investment remains subject to market conditions and timing of liquidity. Overall, these results underscore our strong positioning to drive long-term value for clients and shareholders.' *Refer to Siebert's 2025 Q1 10Q, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations for further detail about the results of the quarter including the unrealized gain related to the equity investment. Notice to Investors This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. About Siebert Financial Corp. Siebert is a diversified financial services company and has been a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms. Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, StockCross Digital Solutions, Ltd, and Gebbia Media LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions. Gebbia Media LLC provides entertainment and media productions including in-house marketing and advertising services for Siebert. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at Cautionary Note Regarding Forward-Looking Statements The statements contained in this press release, that are not historical facts, including statements about our beliefs and expectations, are 'forward-looking statements' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by or that include the words 'may,' 'could,' 'would,' 'should,' 'believe,' 'expect,' 'anticipate,' 'plan,' 'estimate,' 'target,' 'project,' 'intend' and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns, including those resulting from extraordinary events; changes and volatility in tariffs and trade policies; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert's business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A - Risk Factors of Siebert's Annual Report on Form 10-K for the year ended December 31, 2024, and Siebert's filings with the SEC. Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur, that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether because of new information, future events or otherwise, except to the extent required by the federal securities laws.
Yahoo
13-05-2025
- Business
- Yahoo
Siebert Reports First Quarter 2025 Financial Results
MIAMI, May 13, 2025--(BUSINESS WIRE)--Siebert Financial Corp. (NASDAQ: SIEB) ("Siebert"), a diversified provider of financial services, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial and Operational Highlights* Total revenue increased 41% to $28.9 million, compared to $20.5 million in the first quarter of 2024, primarily driven by an unrealized gain of $9.2 million related to an equity investment. The unrealized gain was recorded with respect to shares in a U.S private company that Siebert purchased prior to the issuer's initial public offering, which shares were revalued following the initial public offering. These shares are currently subject to resale restrictions, and due to market volatility, including a significant decrease in price subsequent to March 31, 2025, and uncertainty around registration timing, the investment's fair value may significantly impact future financial results. Operating income increased 106% to $10.5 million, compared to $5.1 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment. Stock borrow / stock loan increased by 18% to $4.8 million, compared to $4.1 million in the first quarter of 2024. Net income available to common stockholders increased 135% to $8.7 million, compared to $3.7 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment. Recent Business Highlights Appointed Stefano Marrone as Chief Marketing Officer to oversee marketing for all divisions and drive initiatives that bridge entertainment and financial literacy for our clients. Appointed industry veteran Fredrick Scuteri as Chief Operating Officer of Muriel Siebert & Co., LLC ("MSCO") to oversee day-to-day operations, trading infrastructure, and platform modernization. Management Commentary* "The first quarter of 2025 was marked by continued investment in talent and our emerging business lines," said Chairman and CEO John J. Gebbia. This quarter reflects disciplined execution of our broader strategic vision, and we're encouraged by the early signs of value being created through our investments in talent and innovation-driven initiatives. We are also excited to welcome industry veterans, Stefano Marrone as CMO and Fredrick Scuteri as COO of MSCO, to the Siebert family as they bring a wealth of experience and add significant value to our strategic initiatives for 2025 and beyond." Andrew Reich, CFO of Siebert, added: "We continue to invest in our personnel and technology to be able to grow and scale our businesses while supporting new business lines. While our results for the quarter also benefited from a $9.2 million unrealized gain tied to a strategic equity investment, the value of this investment remains subject to market conditions and timing of liquidity. Overall, these results underscore our strong positioning to drive long-term value for clients and shareholders." *Refer to Siebert's 2025 Q1 10Q, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations for further detail about the results of the quarter including the unrealized gain related to the equity investment. Notice to Investors This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. About Siebert Financial Corp. Siebert is a diversified financial services company and has been a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms. Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, StockCross Digital Solutions, Ltd, and Gebbia Media LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions. Gebbia Media LLC provides entertainment and media productions including in-house marketing and advertising services for Siebert. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at Cautionary Note Regarding Forward-Looking Statements The statements contained in this press release, that are not historical facts, including statements about our beliefs and expectations, are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by or that include the words "may," "could," "would," "should," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," "intend" and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns, including those resulting from extraordinary events; changes and volatility in tariffs and trade policies; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert's business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A - Risk Factors of Siebert's Annual Report on Form 10-K for the year ended December 31, 2024, and Siebert's filings with the SEC. Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur, that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether because of new information, future events or otherwise, except to the extent required by the federal securities laws. View source version on Contacts Investor Relations: Matt Glover and Clay LioliosGateway Group, Inc. 949-574-3860 SIEB@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-04-2025
- Yahoo
Wrong-way driver; sentence for man who passed Kamala Harris motorcade
The Brief Wayne Wacker pleaded guilty to two misdemeanor charges associated with driving the wrong way toward Vice President Kamala Harris' motorcade in October 2024. Wacker was sentenced to two years probation. MILWAUKEE - A man accused of driving the wrong way toward Vice President Kamala Harris' motorcade in Milwaukee pleaded guilty on Monday, April 28 to two misdemeanor charges against him. Wayne Wacker pleaded guilty in a deal to negligent operation of a motor vehicle and disorderly conduct. The court then sentenced Wacker to two years of probation. What we know The Milwaukee County Sheriff's Office said it happened in October 2024 near the Marquette Interchange. A 55-year-old Milwaukee man driving an SUV westbound in the eastbound lanes of I-94 as the motorcade pulled through. FREE DOWNLOAD: Get breaking news alerts in the FOX LOCAL Mobile app for iOS or Android Harris had just wrapped up a rally in Brookfield when her motorcade passed the wrong-way vehicle. As it drew closer, deputies stopped the SUV, found an open container of alcohol inside and determined the driver was impaired. He was then taken into custody on recommended charges of operating while intoxicated and recklessly endangering safety. The man allegedly told deputies that he was headed home after a night out and had no idea that he was driving the wrong way on the freeway, a sheriff's office spokesperson said. The driver was identified as Wayne Wacker by the MSCO, which also confirmed he was drunk at the time. SIGN UP TODAY: Get daily headlines, breaking news emails from FOX6 News No one was injured. The Source The information in this post was provided by Wisconsin Circuit Court Access as well as the criminal complaint associated with this case.
Yahoo
06-03-2025
- Yahoo
Car crash on I-84 involving deputy patrol car lands driver with DUII charge
PORTLAND, Ore. (KOIN) – After a Jeep slammed into a Multnomah County deputy's patrol car on Interstate 84 late Wednesday night, the driver was accused of drunk and careless driving. According to law enforcement, a deputy had been conducting a traffic stop on the shoulder of eastbound I-84 near NE Cesar E. Chavez Boulevard when a 2018 Jeep Compass hit the patrol vehicle with the deputy still inside. Officials said the impact caused the Jeep to spin back onto the freeway. 'Significant tip' in 1958 Martin Family disappearance prompts underwater search Both the deputy and the Jeep's driver were taken to the hospital without serious injuries, while I-84 was shut down 'due to vehicles and debris strewn across the lanes of travel,' the Multnomah County Sheriff's Office reported. Investigators said they found evidence that the driver had been drunk at the time of the crash. When he was released from the hospital, deputies booked him for DUII and cited him for failing to maintain lane, careless driving contributing to an accident, and failure to install an ignition interlock device. The MSCO vehicle, a fully-marked Chevrolet Tahoe SUV, was left with 'significant damage to the left rear corner,' officials said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
