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Monday, January 22 2018 @ 02:22 AM CST
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International Visitor Spending Reaches $82.2 Billion in the First Half of 2012

Growth is 11 percent higher than in 2011
Today, the U.S. Department of Commerce’s International Trade Administration (ITA) announced that international visitors have spent an estimated $82.2 billion on U.S. travel and tourism-related goods and services year to date, an increase of 11 percent when compared to the same period last year. The new data confirm that the U.S. travel and tourism industry is on pace for another record-setting year and, if these trends to continue, international visitors could end up injecting more than $169 billion into the U.S. economy by year-end. 

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Russia’s entry into the World Trade Organization (WTO)

Acting U.S. Commerce Secretary Rebecca Blank today issued a statement on Russia’s entry into the World Trade Organization (WTO), which will help increase U.S. exports and thereby create thousands of American jobs.  

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Japanese Automobile Parts Manufacturer Agrees to Plead Guilty to Price Fixing on Parts Installed in U.S. Cars

WASHINGTON  Nagoka, Japan-based Nippon Seiki Co. Ltd. has agreed to plead guilty and to pay a $1 million criminal fine for its role in a conspiracy to fix prices of instrument panel clusters, commonly known as meters, installed in cars sold in the United States and elsewhere, the Department of Justice announced today.

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U.S. Government Seizes $150 Million in Connection with Hizballah-Related Money Laundering Scheme

The United States has seized $150 million in connection with a civil money laundering and forfeiture complaint filed in December 2011 alleging a massive, international scheme in which entities linked to Hizballah, including the now-defunct Lebanese Canadian Bank (LCB), used the U.S. financial system to launder narcotics trafficking and other criminal proceeds through West Africa and back into Lebanon, announced Preet Bharara, U.S. Attorney for the Southern District of New York, and Michele M. Leonhart, the Administrator of the U.S. Drug Enforcement Administration (DEA). 

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ICE deports ex-Indonesian bank executive convicted in multi-million dollar fraud scheme

JAKARTA, Indonesia

A former Indonesian bank executive convicted in absentia in that country for her role in a massive fraud scheme that cost that country's government more than $260 million was deported Wednesday and turned over to the Indonesian National Police, capping a three year effort by U.S. Immigration and Customs Enforcement (ICE) to investigate the case and gain her removal from the United States. 

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Norwich Contractor Sentenced to Federal Prison for Role in Mortgage Fraud Scheme

David B. Fein, United States Attorney for the District of Connecticut, today announced that Brian Guimond, 45, of Norwich, was sentenced yesterday by Senior United States District Judge Alfred V. Covello in Hartford to 27 months of imprisonment, followed by one year of supervised release, for his participation in an eastern Connecticut mortgage fraud scheme.
According to court documents and statements made in court, from approximately 2004 to 2007, Jose Guzman and others used mortgage brokerage, property management, and home improvement companies to arrange for individuals (“borrowers”) to purchase real estate, primarily residential housing properties located in 

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Ponzi Scheme Mastermind Sentenced to 50 Years in Prison

Keith Franklin Simmons, 47, of West Jefferson, North Carolina, was sentenced today to 50 years in prison in connection with a $40 million Ponzi scheme he operated, announced Anne M. Tompkins, U.S. Attorney for the Western District of North Carolina. U.S. District Judge Robert J. Conrad, Jr. also ordered the defendant to serve three years under court supervision following his prison term and to pay $35,331,632 in restitution. 

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Navy, Air Force develop engine modification that may save billions


The Navy and Air Force stand to save more than $2 billion after jointly developing an engine modification that will keep critically important aircraft flying for years. The two services and industry worked together to develop and field a modification to CFM International's CFM56-2 (F108) engine, allowing them to restore exhaust gas temperature margins, increase fuel economy and extend their time between overhauls from 10 to 15 years.

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Economic Espionage How to Spot a Possible Insider Threat

American industry and private sector businesses are the choice target of foreign intelligence agencies, criminals, and industry spies. The above image on the cost of economic espionage to the U.S. can currently be seen on digital billboards—courtesy of Clear Channel and Adams Outdoor Advertising in several regions of the country with a concentration of high-tech research and development companies, laboratories, major industries, and national defense contractors. If you suspect economic espionage, report 

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Industry’s Help to Catch Cyber Attacks

WASHINGTON, March 27, 2012

The Defense Department needs private-sector cooperation in reporting computer network attacks in real time to stop what has been the “greatest transfer of wealth in history” that U.S. companies lose to foreign hackers, the head of U.S. Cyber Command told a Senate committee today. Army Gen. Keith B. Alexander, who also is the National Security Agency director, told the Senate Armed Services Committee that he supports legislation that would require private companies to report attacks, and added that such reporting needs to happen before an attack is complete.


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