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U.S. bank regulator fines Citigroup $25 million for violating fair lending rules

The Citigroup Inc logo is seen at the SIBOS banking and financial conference in Toronto
FILE PHOTO: The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren

March 19, 2019

WASHINGTON (Reuters) – The U.S. Office of the Comptroller of the Currency (OCC) said on Tuesday it has fined Citigroup $25 million for violating the Fair Housing Act after it denied some borrowers preferential rates on the basis of their race, color or other factors.

The OCC found that the bank’s program to provide eligible mortgage loan customers either reduced closing costs or an interest rate reduction had control weakness. As a result of these problems, some bank borrowers did not receive the benefit for which they were eligible, the OCC said.

(Reporting by Michelle Price)

Source: OANN

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Bank of Canada sees rising global debt as top concern

FILE PHOTO: Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins walk to a news conference in Ottawa
FILE PHOTO: Bank of Canada Governor Stephen Poloz (R) and Senior Deputy Governor Carolyn Wilkins walk to a news conference in Ottawa, Ontario, Canada, July 12, 2017. REUTERS/Chris Wattie

March 14, 2019

OTTAWA (Reuters) – Rising global debt is slowing economic growth and making Canada, and the rest of the world, more vulnerable to another period of financial instability, Bank of Canada senior deputy governor Carolyn Wilkins said on Thursday.

Speaking to an audience of financial professionals and students in Vancouver, she noted that while the global financial system is in a better place than it was a decade ago, trade uncertainties and other geopolitical risks could throw things off track.

“Global debt now totals around $240 trillion – that’s $100 trillion higher than just before the financial crisis,” Wilkins said, adding: “That is a headwind to growth and makes us vulnerable to another period of financial instability.”

The Bank of Canada – which has hiked rates five times since July 2017 – stayed on the sidelines in its rate decision last week, warning there was “increased uncertainty” on the timing of future hikes and removing wording around the need for rates to rise to the neutral range over time.

The more dovish tone prompted money markets to price in the chance of a rate cut by year-end, with that probability hovering around 35 percent ahead of Wilkins speech. Wilkins did not mention the need for further rate hikes.

(Reporting by Julie Gordon and Dale Smith)

Source: OANN

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Germany: 11 arrested in raid on suspected extremist plotters

German authorities say 11 people have been arrested in raids in western Germany on a group of people suspected of planning an Islamic extremist attack using a vehicle and firearms.

News agency dpa reported that prosecutors in Frankfurt said Friday that the aim of the plot was "to kill as many 'infidels' as possible."

It said the main suspects are two 31-year-old brothers from Wiesbaden and a 21-year-old man from Offenbach, near Frankfurt.

Some 200 police officers took part in Friday's raids.

Source: Fox News World

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Meet Victoria’s Secret’s First Red-Haired Angel, Alexina Graham

Katie Jerkovich | Entertainment Reporter

Meet the first-ever red-haired Victoria’s Secret Angel, Alexina Graham.

Judging by the photos and clips on her social media account, the honor is well deserved. (RELATED: Celebrate Alessandra Ambrosio’s Birthday With Her Most Scandalous Pics [SLIDESHOW])

“I found out I was going to officially become a Victoria’s Secret Angel when I was at dinner with my best friend. . . . It’s very exciting! It still feels so surreal, to be honest, I have been working so hard to get to this moment — it’s a real mixture of feeling emotional, nervous and excited,” the 29-year-old Victoria’s Secret model shared with Glamour UK Thursday.

Alexina Graham attends the Victoria's Secret Viewing Party ar Spring Studios on December 2, 2018 in New York City. (Photo by Dimitrios Kambouris/Getty Images for Victoria's Secret)

Alexina Graham attends the Victoria’s Secret Viewing Party ar Spring Studios on December 2, 2018 in New York City. (Photo by Dimitrios Kambouris/Getty Images for Victoria’s Secret)

“I found out when I was having dinner with one of my best friends, just in a restaurant in Soho, New York,” she added. “My agent sent me a screenshot of an email saying, ‘You are joining the [Victoria’s Secret] family in 2019!’ So, I called her thinking she was joking, and she said, ‘No, it’s true!'”(RELATED: Take A Look Back At Adriana Lima’s Career With Victoria’s Secret)

Graham continued, “So, me and my friend just got champagne — it was such a great way to find out! We kept it chic though, darling!”

The beauty from Nottingham, U.K., announced Thursday on Instagram that she had officially got her wings — following in the footsteps of such huge supermodels as Gisele Bundchen, Adriana Lima and Jasmine Tookes, just to name a few.

She first walked the annual lingerie show catwalk in 2017 and then once again in 2018. Lots of models walk the show, but getting wings is a special honor.

“It means so much to me to be the red-haired [Victoria’s Secret] Angel. . . . Being a Victoria’s Secret’s Angel comes with a lot of empowerment,” the lingerie model explained. “I think for me being a red-head [Victoria’s Secret] Angel means I get to put redheads out there more.”

“Being an angel is part of having that media outreach so that I can say to young red-head kids, ‘you can do anything you want! Nothing is impossible!'” she added. “This is a ‘two fingers up at my bullies’ moment…”

Graham continued, “Like most redheads, I did get bullied at school because we just stand out. I was this skinny little, geeky thing with no boobs but now I have embraced it as a woman. Having red hair is now a powerful part of my identity. It took me a long time to get here, I have gone through so much in the last ten years both in terms of my career and my life.”

At one point, she said she almost gave up her dream of modeling about “[five-to-six] years ago,” but her mom encouraged her to “keep going.”

And clearly it was a great decision. We can hardly wait to see what the future will bring for her. Congratulations!

Source: The Daily Caller

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Foreign government behind cyber attack on Australian lawmakers, PM says

FILE PHOTO: APEC Summit 2018 in Port Moresby
FILE PHOTO: Prime Minister of Australia Scott Morrison arrives for APEC CEO Summit 2018 at Port Moresby, Papua New Guinea, 17 November 2018. Fazry Ismail/Pool via REUTERS

February 18, 2019

By Colin Packham

SYDNEY (Reuters) – A cyber attack this month on Australian lawmakers was probably carried out by an unidentified foreign country, Prime Minister Scott Morrison said on Monday, adding that the networks of major political parties were breached ahead of an election due by May.

Lawmakers were this month told to urgently change their passwords after Australia’s cyber intelligence agency detected an attack on the national parliament’s computer network.

The hackers breached the networks of Australia’s major political parties, Morrison said, as he issued an initial assessment by investigators.

“Our cyber experts believe that a sophisticated state actor is responsible for this malicious activity,” he told parliament.

“We also became aware that the networks of some political parties, Liberal, Labor and Nationals have also been affected.”

Morrison did not reveal what information was accessed, but he said there was no evidence of election interference.

Australians will return to the polls by May.

Morrison did not name any suspects, but government analysts have said China, Russia and Iran were the most likely culprits.

Ties with China have deteriorated since 2017, after Canberra accused Beijing of meddling in its domestic affairs. Both countries have since sought to mend relations, but Australia remains wary of China.

Tension rose this month after Australia rescinded the visa of a prominent Chinese businessman, just months after barring Chinese telecoms giant Huawei Technologies from supplying equipment to its 5G broadband network.

Officers of Russia’s GRU military intelligence agency covertly monitored computers of U.S. Democratic candidate, Hillary Clinton’s 2016 presidential campaign and campaign committees, and stole large amounts of data, U.S. investigators have concluded.

(Reporting by Colin Packham; Editing by Clarence Fernandez)

Source: OANN

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BHP CEO staying around to deal with tailings and transformation

Mackenzie speaks at a round table meeting with journalists in Tokyo
Andrew Mackenzie speaks at a round table meeting with journalists in Tokyo, Japan June 5, 2017. REUTERS/Kim Kyung-Hoon

February 19, 2019

By Barbara Lewis

LONDON (Reuters) – The chief executive of mining group BHP has no plans to quit and will focus on the “nuclear level of safety” needed to avoid any repeat of the Vale dam collapse in Brazil, as well as on transforming his own company.

Speculation about the future of CEO Andrew Mackenzie, 62, has swirled since 2017 when activist investor Elliott Advisors began campaigning for change and Ken MacKenzie was appointed as chairman.

Asked about how long he planned to stay, Mackenzie, in the role since 2013, said he was not thinking about moving on.

“I’ve got a lot to do right now and I’ve got a lot to do on tailings dams,” he told reporters in London.

As the tailings disaster in Brazil in January overshadows the mining industry, BHP has the experience to lead change as its Samarco joint venture with Vale was involved in a previous dam collapse in November 2015 that left 19 dead.

Following Samarco, the International Council on Mining and Metals (ICMM) issued updated guidelines to try to safeguard tailings dams that store waste from mining operations.

But the ICMM is industry-led and Mackenzie has called for an independent body to oversee dams.

“We have to acknowledge the deficiencies in the scientific and technical understanding,” the Scotsman said.

“You need to think about this with the best possible science and engineering in the world. It has to have a nuclear level of safety now.”

Mackenzie said mining companies were needed to provide society with resources and to support a transition to a low carbon economy that will spur demand for minerals such as copper, used in electrification.

After the commodities crash of 2015-16, the mining industry has repaired balance sheets and handed cash to shareholders. The next steps are less obvious as old ore bodies become depleted and new assets are often in politically unstable countries.

BHP on Tuesday said its first-half underlying profit was down 8 percent from the same period a year ago and it cut its forecast for productivity gains to flat for the financial year, mainly because production outages meant $460 million in savings was not achieved.

Mackenzie said he was excited to be leading a “transformation agenda” to help with the next phase of growth and maximize the productivity of operations.

“The transformation agenda is the biggest lever we have got to play. It’s reporting direct to me. I’m getting a lot out of it,” Mackenzie said.

(Editing by Keith Weir)

Source: OANN

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Pope washes feet of prisoners at Holy Thursday service

Pope Francis holds a Mass on Holy Thursday
Pope Francis spreads incense as he holds a Mass on Holy Thursday at Saint Peter's Basilica at the Vatican, April 18, 2019. REUTERS/Remo Casilli

April 18, 2019

By Philip Pullella

ROME (Reuters) – Pope Francis washed and kissed the feet of 12 prisoners on Thursday at a traditional service, telling them to shun any inmate hierarchy structure or law of the strongest and to help each other instead.

Francis’ predecessors held the traditional Holy Thursday rite in one of Rome’s great basilicas, washing the feet of 12 priests. But to emphasize its symbolism of service, Francis transferred it to places of confinement, such as prisons, immigrant centers or old age homes.

He traveled this year to a prison in the town of Velletri, about 40 km south of Rome.

It is the fifth time since his election in 2013 that he has held the service, which commemorates Jesus’ gesture of humility toward his apostles on the night before he died, in jail.

Francis told the inmates that in Jesus’s time, washing the feet of visitors was the job of slaves and servants.

“This is the rule of Jesus and the rule of the gospel. The rule of service, not of domination or of humiliating others,” he said.

Of the male inmates whose feet Francis washed, there were nine Italians, one Brazilian, one Moroccan and one Ivorian. The Vatican did not give their religions.

In the past, conservative Catholics criticized the pope for washing the feet of women and Muslim inmates.

The Velletri prison, which is overcrowded like most Italian jails, mostly holds foreigners for common crimes, but one section holds turncoats who collaborated with investigators and get special protection.

On Good Friday, Francis, marking his seventh Easter season as Roman Catholic leader, is due to lead a Via Crucis (Way of the Cross) procession around Rome’s ancient Colosseum.

The 82-year-old leader of the world’s 1.3 billion Roman Catholics leads an Easter vigil service on Saturday night and on Easter Sunday reads the traditional “Urbi et Orbi” (To The City and The World) message.

(Reporting By Philip Pullella; Editing by Hugh Lawson)

Source: OANN

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

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The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

Source: OANN

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U.S. President Donald Trump hosts Take Our Daughters and Sons to Work Day at the White House in Washington
U.S. President Donald Trump gives a thumbs up to his audience as he hosts Take Our Daughters and Sons to Work Day at the White House in Washington, U.S., April 25, 2019. REUTERS/Kevin Lamarque

April 26, 2019

By Jan Wolfe and Richard Cowan

(Reuters) – The “i word” – impeachment – is swirling around the U.S. Congress since the release of Special Counsel Robert Mueller’s redacted Russia report, which painted a picture of lies, threats and confusion in Donald Trump’s White House.

Some Democrats say trying to remove Trump from office would be a waste of time because his fellow Republicans still have majority control of the Senate. Other Democrats argue they have a moral obligation at least to try to impeach, even though Mueller did not charge Trump with conspiring with Russia in the 2016 U.S. election or with obstruction of justice.

Whether or not the Democrats decide to go down this risky path, here is how the impeachment process works.

WHAT ARE GROUNDS FOR IMPEACHMENT?

The U.S. Constitution says the president can be removed from office by Congress for “treason, bribery, or other high crimes and misdemeanors.” Exactly what that means is unclear.

Before he became president in 1974, replacing Republican Richard Nixon who resigned over the Watergate scandal, Gerald Ford said: “An impeachable offense is whatever a majority of the House of Representatives considers it to be at a given moment in history.”

Frank Bowman, a University of Missouri law professor and author of a forthcoming book on the history of impeachment, said Congress could look beyond criminal laws in defining “high crimes and misdemeanors.” Historically, it can encompass corruption and other abuses, including trying to obstruct judicial proceedings.

HOW DOES IMPEACHMENT PLAY OUT?

The term impeachment is often interpreted as simply removing a president from office, but that is not strictly accurate.

Impeachment technically refers to the 435-member House of Representatives approving formal charges against a president.

The House effectively acts as accuser – voting on whether to bring specific charges. An impeachment resolution, known as “articles of impeachment,” is like an indictment in a criminal case. A simple majority vote is needed in the House to impeach.

The Senate then conducts a trial. House members act as the prosecutors, with senators as the jurors. The chief justice of the U.S. Supreme Court presides over the trial. A two-thirds majority vote is required in the 100-member Senate to convict and remove a president from office.

No president has ever been removed from office as a direct result of an impeachment and conviction by Congress.

Nixon quit in 1974 rather than face impeachment. Presidents Andrew Johnson in 1868 and Bill Clinton in 1998 were impeached by the House, but both stayed in office after the Senate acquitted them.

Obstruction of justice was one charge against Clinton, who faced allegations of lying under oath about his relationship with White House intern Monica Lewinsky. Obstruction was also included in the articles of impeachment against Nixon.

CAN THE SUPREME COURT OVERTURN?

No.

Trump said on Twitter on Wednesday that he would ask the Supreme Court to intervene if Democrats tried to impeach him. But America’s founders explicitly rejected making a Senate conviction appealable to the federal judiciary, Bowman said.

“They quite plainly decided this is a political process and it is ultimately a political judgment,” Bowman said.

“So when Trump suggests there is any judicial remedy for impeachment, he is just wrong.”

PROOF OF WRONGDOING?

In a typical criminal court case, jurors are told to convict only if there is “proof beyond a reasonable doubt,” a fairly stringent standard.

Impeachment proceedings are different. The House and Senate “can decide on whatever burden of proof they want,” Bowman said. “There is no agreement on what the burden should be.”

PARTY BREAKDOWN IN CONGRESS?

Right now, there are 235 Democrats, 197 Republicans and three vacancies in the House. As a result, the Democratic majority could vote to impeach Trump without any Republican votes.

In 1998, when Republicans had a House majority, the chamber voted largely along party lines to impeach Clinton, a Democrat.

The Senate now has 53 Republicans, 45 Democrats and two independents who usually vote with Democrats. Conviction and removal of a president would requires 67 votes. So that means for Trump to be impeached, at least 20 Republicans and all the Democrats and independents would have to vote against him.

WHO BECOMES PRESIDENT IF TRUMP IS REMOVED?

A Senate conviction removing Trump from office would elevate Vice President Mike Pence to the presidency to fill out Trump’s term, which ends on Jan. 20, 2021.

(Reporting by Jan Wolfe and Richard Cowan; Editing by Kevin Drawbaugh and Peter Cooney)

Source: OANN

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New England Patriots owner Robert Kraft attends a conference at the Cannes Lions Festival in Cannes
FILE PHOTO: New England Patriots owner Robert Kraft attends a conference at the Cannes Lions Festival in Cannes, France, June 23, 2017. REUTERS/Eric Gaillard

April 26, 2019

(Reuters) – New England Patriots owner Robert Kraft’s lawyers on Friday are set to ask a Florida judge to toss out hidden-camera videos that prosecutors say show the 77-year-old billionaire receiving sexual favors for money inside a Florida massage parlor.

The owner of the reigning Super Bowl champions plans wants the video to not be used as evidence against him as he contests two misdemeanor counts of soliciting prostitution at the Orchids of Asia Spa in Jupiter, Florida, along with some two dozen other men.

His legal team is fresh off a win on Tuesday, when they successfully persuaded Palm Beach County Judge Leonard Hanser to block prosecutors from releasing the hidden-camera footage to media outlets, which had requested copies under the state’s robust open records law.

Kraft, who has owned the franchise since 1994, pleaded not guilty, but has issued a public apology for his actions.

His attorneys have argued in court papers that the surreptitious videotaping of customers, including Kraft, inside a massage parlor was governmental overreach and the result of an illegally obtained search warrant.

The warrant, Kraft’s lawyers claim, was secured under false pretenses because police officers cited human trafficking as a potential crime in their application. Prosecutors have since acknowledged that the investigation yielded no evidence of trafficking.

Palm Beach County prosecutors in a court filing on Wednesday said Kraft’s motion should be rejected because he could not have had any expectation of privacy while visiting a commercial establishment to engage in criminal activity.

That prompted an indignant response from Kraft’s attorneys, who said the prosecution’s position on privacy was “unhinged.”

“It should go without saying that Mr. Kraft and everyone else in the United States have a reasonable expectation that the government will not secretly spy on them while they undress behind closed doors,” they wrote.

(Reporting by Joseph Ax, editing by G Crosse)

Source: OANN

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