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China customs says it has lifted suspension on Tesla Model 3 imports

Tesla Model 3 car leaves a cargo vessel at a port in Shanghai
A Tesla Model 3 car leaves a cargo vessel at a port in Shanghai, China February 22, 2019. REUTERS/Stringer ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT.

March 14, 2019

SHANGHAI (Reuters) – China’s customs authority has lifted a warning notice that barred Tesla Model 3 imports into the country last week, an official in the authority’s news department told Reuters on Thursday.

“We can confirm that the warning notice on Tesla has been canceled,” said the official, who only gave his surname as Tao.

Reuters reported earlier on Thursday that the suspension had been lifted.

(Reporting by Brenda Goh and Shanghai Newsroom; Editing by Tom Hogue)

Source: OANN

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Mueller Would Err by Not Putting Trump Under Oath, Schiff Says

 It would be a mistake for Special Counsel Robert Mueller not to subpoena President Donald Trump to appear before a grand jury in the investigation of Russian interference in the 2016 election, said House Intelligence Committee Chairman Adam Schiff.

Mueller is constrained by time pressure to conclude his work and also faces a White House that would likely fight a subpoena, Schiff said. Even so, he shouldn’t rely just on written answers from Trump because lawyers help craft them and there’s no chance for follow-up questions, the California Democratic lawmaker said Sunday on NBC’s “Meet the Press.”

“Probably the best way to get the truth would be to put the president under oath,” Schiff said. “Because as he’s made plain in the past, he feels it’s perfectly fine to lie to the public. After all, he has said, ‘It’s not like I’m talking before a magistrate.’ Well, maybe he should talk before a magistrate.”

Trump’s lawyers have suggested that the president won’t be sitting down with Mueller to answer questions beyond written responses to some queries that were submitted in November. The attorneys have said the answers only cover events before Trump became president and Russian-related topics, not whether he tried to obstruct justice.

Trump has repeatedly denied any wrongdoing and collusion between his campaign and Russia, and derided Mueller’s investigation as a witch hunt.

There are expectations in Washington that Mueller will wrap up his investigation and send his findings to U.S. Attorney General William Barr within days or weeks.

“I’ve said all along that I don’t think Bob Mueller should rely on written answers,” Schiff said.

Source: NewsMax Politics

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Exclusive: Foreign insurers gear up to tap China’s $1.6 trillion pensions business – sources

The logo of British life insurer Prudential is seen on their building in London
The logo of British life insurer Prudential is seen on their building in London, Britain March 17, 2019. REUTERS/Simon Dawson

April 12, 2019

By Sumeet Chatterjee and Alun John

HONG KONG (Reuters) – Foreign insurers including Generali and Prudential Plc are in early talks with authorities to enter China’s private pensions sector, people with knowledge of the matter said, as Beijing opens up to overseas companies.

Hong Kong-based AIA Group and Manulife Financial are also considering similar moves, they said.

Beijing gave approval to the first foreign joint-venture firm to establish a pensions insurance business last month and two of the people said China has been running pilot projects in three provinces involving foreign firms. Those projects end later this year.

Foreign insurers would compete with eight established Chinese pension insurance firms that dominate the potentially lucrative market, where the fast-greying population is set to produce 250 million people older than 60 by 2020.

“The average longevity of people in China is increasing but the pension market remains under-penetrated,” Prudential Asia Chief Executive Nic Nicandrou told Reuters.

Some of the foreign companies are expected to submit applications in the second half of this year to set up pensions businesses, the people said. They declined to be identified as the plans are not firm yet and also are not public.

“POISED”

Last month, Heng An Standard Life, a joint venture between Standard Life Aberdeen and Tianjin TEDA International, became the first foreign joint-venture entity to receive regulatory approval by China to establish a pensions insurance company.

China’s pensions assets, including those managed by the state, grew by 20 percent in 2017 to 11 trillion yuan ($1.64 trillion) and are expected to more than quadruple by 2025, consultancy KPMG said in a report this year.

Underlining the potential, consultant Willis Towers Watson said China has one of the lowest ratios of private-employee annuity pension assets to GDP among major economies at 1.5 percent. That compares with 120.5 percent of GDP in the United States and more than 130 percent in Australia.

Prudential has a 50-50 life-insurance venture with China’s CITIC Group. Nicandrou said the venture is “well poised” to participate in the pension market but he did not elaborate on any specific plans.

Rob Leonardi, Asia regional officer for Italy’s top insurer Generali, said the firm was seeing progress in pensions reform in China.

“If this trend continues, we can expect more foreign funded companies to express further interest in the coming months,” he said. The company declined to give details about its plans for the market.

AIA, which operates the only wholly owned foreign life insurance business in China, declined to comment.

“MATTER OF TIME”

Global asset managers have been lobbying Beijing to offer tax benefits and other incentives to encourage investment in mutual funds for retirement.

Manulife, which signed a pact with Agricultural Bank of China in 2017 to jointly explore opportunities in China’s pension and retirement market, is looking to establish a joint-venture pension management company.

It plans to draw upon its life insurance and asset management joint ventures in China to launch retirement solutions and products, said Calvin Chiu, head of Asia retirement at Manulife Asset Management.

“The government has expressed willingness to open up the financial services sectors in the country, it’s just a matter of time and priority. They do recognize the value that foreign players can add in the pension space,” he said.

China Banking and Insurance Regulatory Commission and the Ministry of Human Resources and Social Security did not respond to Reuters requests for comment.

“All countries are trying to shift pensions away from the iron rice bowl concept,” Gerry Grimstone, chairman of Heng An Standard Life said.

“There have been some attempts at this in China, but, the fact is, there is technology in the west, and an approach to this which the Chinese were keen to bring into their market.”

(Reporting by Sumeet Chatterjee and Alun John; Editing by Neil Fullick)

Source: OANN

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U.S.-backed SDF says it captured 157 militants, mostly foreigners

A fighter of Syrian Democratic Forces gestures in the village of Baghouz, Deir Al Zor province
A fighter of Syrian Democratic Forces gestures in the village of Baghouz, Deir Al Zor province, Syria, March 18, 2019. REUTERS/Stringer

March 19, 2019

BEIRUT (Reuters) – The U.S.-backed Syrian Democratic Forces (SDF) militia besieging Islamic State’s last enclave in eastern Syria said on Tuesday it had captured “157 experienced terrorists, mostly foreign nationals”.

The operation was carried out at Baghouz, the site of the Islamic State enclave, by SDF special forces, said Mustafa Bali, the head of the militia’s media office, on Twitter. He did not say when the operation took place.

(Reporting By Angus McDowall; Editing by Andrew Heavens)

Source: OANN

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Volkswagen boss says U.S. tariffs could cost up to 2.5 billion euros: Financial Times

Diess, Volkswagen's new CEO, poses during the Volkswagen Group's annual general meeting in Berlin
FILE PHOTO: Herbert Diess, Volkswagen's new CEO, poses during the Volkswagen Group's annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt

February 21, 2019

FRANKFURT (Reuters) – The biggest threat to Volkswagen’s 2019 profit is potential tariffs from the United States, Chief Executive Herbert Diess told the Financial Times.

“It’s becoming tense once again,” Diess told the FT. “You know it’s a pity because we can’t solve it from the car industry [alone]. It’s more of a tariffs negotiation between Europe and the United States.”

Analysts at London-based Evercore ISI said tariffs could cost Volkswagen 2.5 billion euros ($2.8 billion) a year, about 13 percent of expected earnings.

“In the worst-case situation, that would probably be close to the real figure,” Diess said of the Evercore projection.

(Reporting by Edward Taylor; Editing by David Goodman)

Source: OANN

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Trump Says He Is Holding Big Pharma Accountable in Opioid Fight

President Donald Trump touted progress in the fight against opioid abuse on Wednesday and promised to hold drugmakers accountable for their part in the crisis, a day after his administration brought its first related criminal charges against a major drug distributor and company executives.

America's opioid epidemic, especially damaging in rural areas where Trump is popular, has been a focus for the Republican president.

On Tuesday, the government charged drug distributor Rochester Drug Co-operative Inc and company executives for their role in fueling the epidemic. The company agreed to pay $20 million and enter a deferred prosecution agreement to resolve charges it turned a blind eye to thousands of suspicious orders for opioid pain killers.

"We are holding big Pharma accountable," Trump said at the Rx Drug Abuse and Heroin Summit in Atlanta.

Deaths from opioid overdose in the United States jumped 17 percent in 2017 from a year earlier to more than 49,000 according to the Centers for Disease Control and Prevention.

Deaths from potent synthetic opioids like fentanyl surged 45 percent in that time, according to the CDC.

Hundreds of lawsuits by state and local governments accuse drugmakers such as Purdue Pharma of deceptively marketing opioids, and distributors such as AmerisourceBergen Corp , Cardinal Health Inc and McKesson Corp of ignoring that they were being diverted for improper uses.

Trump said he convinced Chinese President Xi Jinping in a December meeting in Argentina to designate fentanyl as a controlled substance.

China last month listed all fentanyl-related substances as controlled narcotics after criticism from Trump, though its government blamed U.S. culture for abuse of the drug and said the amount of fentanyl going from China into the United States was "extremely limited."

"Almost all fentanyl comes from China," Trump said on Wednesday. "They are going to make it a major crime."

Little has come of Trump's earlier calls for executing drug dealers. But the administration has taken some action to address the crisis on other fronts.

Trump declared the opioid crisis a public health emergency in October 2017. Last week, U.S. health officials said they will spend $350 million in four states to study ways to best deal with the opioid crisis on the local level, with a goal of reducing opioid-related overdose deaths by 40 percent over three years in selected communities in those states.

The Democratic National Committee said in a statement before Trump's remarks that his proposed Medicaid cuts and efforts to overturn the Affordable Care Act, popularly known as Obamacare, could make the opioid problem worse.

Trump has used the crisis to support his call for building a wall on the border with Mexico, saying it would help keep out heroin and other illegal drugs and curb the crisis.

Source: NewsMax America

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The Latest: Missing woman's family found blood in bathroom

The Latest on the case of the death of a missing Colorado woman (all times local):

12:10 p.m.

Police searching the home of a missing Colorado woman initially found no evidence of foul play but later discovered traces of blood belonging to Kelsey Berreth.

The new information was revealed Tuesday during a court hearing. Berreth's fiance, Patrick Frazee, has been charged with murder and solicitation to commit murder in the 29-year-old's death. He has not entered a plea.

Authorities had released little information about what led to Frazee's arrest until Tuesday.

Police searched Berreth's Woodland Park home after she was reported missing Dec. 2 and found no evidence inside the home. But several days later, Berreth's parents reported finding blood in the bathroom.

Tests later determined blood found on the toilet, the exterior of the bath tub, a trash can, electrical outlet, door hinges and a towel rack belongs to Berreth.

___

10:30 a.m.

Prosecutors have filed additional charges against the Colorado man charged with murder and solicitation to commit murder in the death of his missing fiancee.

Patrick Frazee is in court Tuesday for a hearing to determine whether he will stand trial in Kelsey Berreth's death. Her body has not been found but police have said evidence suggests she was killed at her home on or around Thanksgiving.

Colorado prosecutors added a charge accusing Frazee of tampering with a deceased body and two charges of committing a crime of violence, which would let the state request a harsher penalty on conviction.

A Woodland Park Police commander later testified that cellphone location data showed Berreth's and Frazee's phones were in the same location after Nov. 22, the date Frazee told police he last saw Berreth.

___

7:46 a.m.

A Colorado man charged with murder and solicitation to commit murder in the death of his missing fiancee is scheduled to appear in court.

Prosecutors are expected to discuss the evidence that led to Patrick Frazee's arrest during the hearing Tuesday morning.

Frazee was charged in December, more than a month after the last sighting of 29-year-old Kelsey Berreth.

Authorities have released little information about the case and key court records remain sealed.

Berreth's sudden disappearance bewildered the flight instructor's family and drew national media attention.

Her body has not been found. Police believe she was killed at her home in the small mountain city of Woodland Park on or around Thanksgiving.

Frazee, who is 32, has not entered a plea. He has been jailed since his arrest.

Source: Fox News National

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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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