Zero Hedge

US Lender Newrez To Accept Crypto Holdings In Mortgage Approval

US Lender Newrez To Accept Crypto Holdings In Mortgage Approval

Authored by Nate Kostar via CoinTelegraph.com,

Newrez plans to treat eligible cryptocurrency holdings as qualifying assets in its mortgage underwriting process, a move that could broaden access to home loans for crypto holders.

The change is expected to take effect in February across the lender’s non-agency products, covering home purchases, refinancings and investment properties.

While borrowers can already use assets such as stocks and bonds in underwriting, crypto holders have typically been required to sell their positions.

At launch, Newrez said it will recognize Bitcoin, Ether, spot exchange-traded funds (ETFs) backed by those assets, and US dollar-backed stablecoins.

The crypto assets must be held with US-regulated crypto exchanges or fintech platforms, brokerages or nationally chartered banks, the company said.

Under the policy, cryptocurrency holdings considered in underwriting may have valuations adjusted to reflect market volatility, while borrowers would still be required to cover closing costs and make mortgage payments in US dollars.

Newrez chief commercial officer Leslie Gillin said about 45% of Gen Z and Millennial investors own cryptocurrency, adding that the policy is aimed at broadening access to homeownership among younger buyers.

US regulators weigh crypto’s role in mortgage underwriting

The move by Newrez follows policy discussions in the US over whether digital assets should be considered in mortgage risk assessments.

In June 2025, the US Federal Housing Finance Agency (FHFA) instructed Fannie Mae and Freddie Mac to develop proposals examining how to consider cryptocurrencies as assets in single-family mortgage risk assessments without conversion to US dollars. 

Less than two months later, Wyoming Senator Cynthia Lummis introduced the 21st Century Mortgage Act, which would codify the FHFA directive.

Lummis said the bill addresses housing affordability challenges for younger Americans, adding that “the American dream of homeownership is not a reality for many young people” and that the legislation reflects the growing number who hold digital assets.

The bill was read twice in the Senate and referred to the Committee on Banking, Housing and Urban Affairs, where it has not advanced further.

Although limited in scope, a market already exists for crypto-backed home financing, allowing borrowers to use BTC or ETH as collateral. 

Mauricio Di Bartolomeo, co-founder of Ledn, told Cointelegraph in June that some Bitcoin holders have used their assets to finance real estate purchases without liquidating them.

Tyler Durden Mon, 01/19/2026 - 16:20

Minneapolis Police Face Mass Exodus As New Paid Leave Program Hits Amid Riots

Minneapolis Police Face Mass Exodus As New Paid Leave Program Hits Amid Riots

Minneapolis faces a compounding crisis, as dozens of police officers are expected to tap into a new state paid leave program while the city grapples with anti-ICE riots and a staffing shortage that has stretched the department to its breaking point. 

Between 60 and 100 officers from the Minneapolis Police Department have applied for or plan to apply for the Paid Family and Medical Leave (PFML) program, which took effect on January 1, according to multiple sources who spoke with Alpha News senior reporter Liz Collin and Crime Watch Minneapolis. The timing could hardly be worse for a city already reeling from violent protests following the shooting death of Renee Good, who was killed by an ICE agent after she attempted to run over a federal officer with her vehicle.

The PFML program was signed into law by Gov. Tim Walz in 2023, which he promoted as a way to give workers time off for family or medical reasons, including up to 20 weeks of paid leave funded with public money. Many had lined up to use the 20-week paid leave window as soon as it opened on January 1. 

“The PFML program allows workers to take up to 12 weeks of medical leave or family leave per year. If someone decides to use a combination of family and medical leave, they can receive benefits for up to 20 weeks,” explains Alpha News. “During that leave, program recipients are paid between 55% and 90% of their regular wages. At present, weekly benefits cannot exceed $1,423 per week. The funding for the program comes from payroll taxes on employers and employees.”

The program also explicitly allows illegal immigrants to access the benefits that police officers use. 

The news of MPD officers applying for the program also comes following the acknowledgement in an email last week to officers from the Police Officers Federation of Minneapolis that MPD morale is at an all-time low. The email detailed the “dangerously low” staffing levels causing stress and burnout, as well as political rhetoric and “inflammatory statements” from elected officials, which is emboldening hostility toward officers.

The department is already struggling daily to fill shifts, as was revealed this week in copies of emails obtained by Crime Watch showing shift sergeants desperately asking for officers to sign up for overtime to fill shifts.

Applications for the program surged quickly, with about 18,000 filed in the first week of the month and roughly 25,000 by last Monday. Initial projections estimated around 130,000 participants over the entire first year. Minneapolis declined to respond directly to Alpha News. Still, it acknowledged on social media that employees, including MPD officers, have requested leave, claiming most applicants were already on leave at the end of 2025 for reasons such as pregnancy, newborn bonding, or caring for a family member, while declining to dispute the reported number of officers involved.

A big problem with the program Walz created is that the statute sets no limit on how many employees from a single department, office, or employer can take leave at the same time, leaving entire units vulnerable to being depleted all at once with no built-in safeguard. Alpha News reports that officers planning to use PFML are required to give 30 days’ notice before going on leave, yet the clustering of applications from Minneapolis police as the program goes live raises serious questions about the timing. The department is now operating with roughly 600 officers, down about 300 from nearly 900 before the pandemic lockdowns and the death of George Floyd. Many officers retired or left the force after that disaster. This time, officers have effectively checked out by applying for paid leave under Walz’s program rather than resigning outright.

Between ongoing rioting, chronic understaffing, and a paid leave program with no guardrails against mass absences, Minneapolis is facing a perfect storm, and its political leaders are the ones to blame. 

Tyler Durden Mon, 01/19/2026 - 15:55

NYC Mayor Mamdani Under Fire Not For Snubbing Black Appointees

NYC Mayor Mamdani Under Fire Not For Snubbing Black Appointees

Authored by Luis Cornelio via Headline USA,

Zohran Mamdani, New York City’s newly sworn-in mayor, is already facing criticism less than a month into his tenure. Not for his democratic socialist agenda, but for failing to appoint black and Hispanic officials. 

In New York City, the mayor relies heavily on deputy mayors, a group that functions much like a cabinet. Mamdani’s predecessor, Eric Adams, filled his administration with black and Hispanic officials, a stark contrast to Mamdani’s approach. 

According to a New York Times report on Thursday, some black and Latino leaders “worry they are being denied access to power under Mayor Zohran Mamdani and that they may lose the ground they had gained under former Mayor Eric Adams.” 

So far, Mamdani has appointed five deputy mayors. None are black, and only one is Hispanic. 

The imbalance has drawn backlash. 

“He already doesn’t have the best relationship with the Black community,” said political consultant Tyquana Henderson-Rivers. “And it seems like he’s not interested in us because there’s no representation in his kitchen cabinet.” 

Arc of Justice President Kristen John Foy echoed that concern, warning that Mamdani’s staffing decisions undercut his pledge of diversity. 

“For someone who prides himself on being directly engaged with everyday New Yorkers, to be so tone deaf to the cries of Black and Latinos in the city for access to power is shocking,” Foy said.  

She added, “There are some very good people of color that have been appointed to some high-level positions, but those people are not at the center of the decision-making apparatus in this city.” 

In response, Mamdani spokesperson Dora Pekec dismissed the criticism, claiming that 18 of the administration’s 32 appointees are minorities. 

Mamdani was sworn into office on Jan. 1 after campaigning as a democratic socialist and vowing to enact some of the most radical left-wing policies in New York City history. 

Tyler Durden Mon, 01/19/2026 - 15:30

Gold And Silver Explosion: Something Big Is Happening

Gold And Silver Explosion: Something Big Is Happening

Gold and silver prices, according to Brandon Smith of Alt-Market.com, are signaling stress under the surface of the economy. From shrinking physical inventories to record central bank buying, precious metals warn that the underlying issues aren’t resolved…

In early 2020 at the beginning of the pandemic hysteria I noted that the covid panic seemed to perfectly coincide with the Federal Reserve’s acceleration of interest rates and asset dumping. This trend, I argued, was a precursor to a Catch-22 scenario I have been warning about for some time.

Since the crash of 2008, the central bank has used stimulus measures and near-zero interest rates to protect “too big to fail” corporations while keeping debt afloat globally. Doing this required the digital printing of tens of trillions of fiat dollars and, inevitably, a sharp devaluation in the greenback.

I predicted that this would lead to stagflationary conditions (which finally hit in 2022), and the conundrum of inflation vs. deflation.

The Federal Reserve could continue to keep rates low and ignore inflationary pressures to avoid a collapse of debt.

Or, they could significantly raise interest rates, let the debt system take its medicine and tumble in price and squelch the effects of inflation by suppressing consumer demand.

Either choice could cause an economic crisis.

Maybe it’s understandable that the Fed decided not to choose.

Instead, they raised rates but not enough to reverse stagflation. They took the middle road and refused to allow the economy to take its much-needed medicine, postponing a reckoning for badly-priced malinvestments.

Essentially, kicking the can down the road for the next administration to deal with.

Consequences of the Fed’s too-little-too-late strategy

This means we are still stuck with the massive price increases we incurred during the Biden Administration.

Granted, the rate of inflation has slowed. But the cost of living is significantly higher than just five years ago. (Remember, above-zero inflation doesn’t mean prices fall – it means they keep rising, but more slowly.)

In 2020 I wrote an article titled Physical Gold Will Soon Break Free from the Paper Market in Spectacular Fashion, predicting skyrocketing precious metals values once this Catch-22 situation became apparent to investors. I predicted that buyers would increasingly drop financial derivatives (futures etc.) in favor of physical delivery of gold and silver, causing physical prices to go parabolic.

This is now happening.

Since I wrote that article, the price of gold per ounce jumped over 200%. Silver prices have exploded by 400%.

  • Global inventories of physical metals have plunged

  • London vaults are reportedly down 30% since 2022

  • Refiners report 10-14 week delays for new bullion bars (vs. normal 2-4 weeks)

  • Physical redemptions of commodities contracts have accelerated to historically unprecedented levels

Via Clive Thompson on LinkedIn. Thompson adds: “This marks a dramatic behavioral shift: historically less than 1% of COMEX contracts resulted in physical delivery, but in 2025, some months delivery notices reached 100%.”

Silver is sitting at an all time high of $90 an ounce as I write this. Gold is closing in on $4700 per ounce.

(Maybe large banks like JP Morgan are deliberately backing away from market manipulation for some reason?) Global central bank gold buying has reached historic levels every year since 2022, surpassing even the levels we saw in the wake of the Great Financial Crisis.

All that is background – what does it mean?

The economic singularity

It seems to me that we are witnessing an economic singularity – a moment of great change.

Or, at the very least, the warning signs of an imminent change.

Precious metals prices are trying to tell us something.

The problem is, that message is mostly being ignored, even by more conservative platforms. Not enough people are talking about what’s happening with precious metals and what it means for the economy as a whole.

Here’s what I think…

First, the rush to physical assets suggests that banking institutions, governments and the wealthiest 1% of investors are scrambling to hedge in preparation for a true crisis. (I’m specifying institutions and the very wealthy because a single COMEX gold delivery contract represents 100 oz. of gold, nearly half a million dollars at today’s prices – well outside the typical American family’s means.)

As I noted in 2020, when the banks start rushing to buy physical gold and silver, then the rest of us should do the same. They are likely acting to counteract losses in other assets. Or they are forecasting some kind of geopolitical earthquake that will send prices exploding.

It’s not hard to see the potential for geopolitical conflict right now. European governments have become increasingly hostile to the U.S. over tariffs. They keep trying to start World War III with Russia and so on.

Second, there are the domestic problems caused by protests against immigration enforcement. The deportation issue is merely a convenient excuse for wider conflict between the left and the right. )If ICE agents went home tomorrow and stopped their arrests, the left would find something else to riot about.)

Just as we witnessed in 2020, domestic chaos is a tool for political extortion. In the meantime, civil instability helps fuel the rise in metals.

Third, there are the tensions with Russia and China, who are not happy with the capture of communist dictator Nicolás Maduro. Venezuela’s oil exports have been vital to China’s industrial capacity. Though Venezuela’s supplies only made up around 4.5% of China’s imports, a loss of 4% or more in a volatile global market is unwelcome to say the least.

Venezuela has served as a launching point for military assets in the western hemisphere (including surveillance systems to watch the U.S.). Chinese and Russian weapons failed miserably against U.S. operations, which might lead to escalation going forward.

The larger effects of Maduro’s removal can’t be quantified yet, but they will be consequential.

Most Venezuelans seem overjoyed by their liberation from Maduro. The question is, can we avoid a long-term quagmire? Our military excels at blowing up enemies with precision, but we have a miserable track record at long-term military occupation.

Fourth, let’s not forget the protests in Iran and the potential for regime change there. I have no personal stake in terms of what happens in the Middle East. I think the U.S. should stay out of the mess as much as possible, but I have no illusions that Trump is going to quietly sit back and just watch. He’s proven to be a man of action.

I have to admit, his decisions on foreign policy have been surprisingly effective and welcomed by the populations involved – in most cases at least. That said, when geopolitical conditions shift so quickly, this inevitably sends shockwaves through the global economy. Even when the action is morally correct and strategically necessary, the consequences are unpredictable.

Finally, the Fed appears intent on cutting interest rates without ever addressing the original stagflationary problem. Consumer spending never went down. Debt accumulation, at the federal and the household level, continues to grow. Prices are still high on most goods compared to 2020. The U.S. has to suffer through at least a short-term deflationary period in order to correct for stagflation, and the banks have done everything in their power to avoid this.

In other words, if the Fed continues to cut rates then inflation will a comeback in 2026.

Here’s what happens next

I believe all the right factors are in play for a continued gold and silver run.

I would not be surprised to see silver close to the $200 per ounce mark by 2027. The combination of demand for all the various industrial uses of silver combined with the multi-year supply deficit, on top of the U.S. decision to declare silver a critical mineral – adding in China’s attempts to ban silver exporting PLUS the insatiable demand for silver as an investment? This is a combination of forces all but guaranteed to send price higher. And they aren’t any more “transitory” than the Covid-era inflation spike. I predict these forces will drive the gold/silver ratio to levels last seen during the spike of 2011 (35:1), which would put the price closer to $131 per ounce today.

I’m not seeing any indication that global pressures are going to slow down anytime soon. In fact, I think precious metals are telling us that things are about to get much more chaotic.

Today, maybe more than ever, owning physical gold and silver is a declaration of financial liberty. Of independence from the fiscal chaos of the Federal Reserve and federal government debt.

Tyler Durden Mon, 01/19/2026 - 14:40

Denmark Skips Davos Forum In Protest Over Deepening Greenland Crisis

Denmark Skips Davos Forum In Protest Over Deepening Greenland Crisis

The World Economic Forum (WEF) Annual Meeting in Davos for 2026 is scheduled for this week (Jan. 19-23), focusing on the theme "A Spirit of Dialogue". Day one, which has kicked off Monday, isn't much of a display of "dialogue" as some key officials are absent, amid Europe's ongoing spat with President Trump over the future fate of Greenland.

Among a record number of 400 top political leaders, including over 60 heads of state and government - as well as hundreds of CEO's - conspicuously absent are officials from Denmark, who have decided not to attend this year in protest over the Greenland crisis.

Source: 2weforum.org

"We can confirm that the Danish government will not be represented in Davos this week... Danish government representatives were invited this year, and any decisions on attendance are a matter for the government concerned," the official statement said.

Trump has repeatedly declared that Greenland should become part of the United States, calling it a matter of national security as China and Russia make inroads in the Arctic region, and also questioning Denmark's right to oversee the autonomous resource-rich territory.

Over the weekend Trump took things well past just rhetoric, threatening on Saturday to slap a 10% additional tariff on EU countries, starting on Feb 1, unless there's a deal for America to purchase Greenland.

Eight nations have responded by issuing a firm joint statement saying they stand behind Denmark and the people of Greenland, writing, "Tariff threats undermine transatlantic relations and risk a dangerous downward spiral."

These eight include Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland - all which also happen to be NATO members.

Europeans have warned that the Greenland issue threatens to unravel the north Atlantic military alliance, especially if Washington were to unilaterally move on Greenland. And more:

  • DENMARK FOREIGN MINISTER: YOU CAN'T THREATEN YOUR WAY TO OWNERSHIP OF GREENLAND
  • DENMARK FOREIGN MINISTER: IT'S EUROPE THAT WILL RESPOND TO THE TARIFF THREAT, NOT DENMARK

Denmark and a handful of European countries have sent a troop contingency there, while at the same time the White House hasn't appeared to actually send in military forces. NBC newly reports that Trump hasn't said whether he would use force or not to seize Greenland:

As tensions escalate over President Donald Trump’s efforts to acquire Greenland, he was guarded Monday in how far he’ll go to take control of the semi-autonomous Danish territory.

Asked if he would use force to seize Greenland, the president said, “No comment,” in a brief telephone interview with NBC News.

Previously US officials have said that given Greenland doesn't have a standing army, or much other defense to speak of, the US wouldn't have to move on it militarily.

There's still an idea floating around D.C. that the US could just purchase it, and that every Greenlander could receive millions of dollars, and reject Denmark's historic claims on it.

As for Davos, while Denmark will be absent in protest, Kremlin officials will be there. There are plans for Russian officials to meet with US envoys, at a moment Ukraine peace talks have largely stalled.

Tyler Durden Mon, 01/19/2026 - 14:15

Don Lemon Faces KKK Act Charges On MLK Holiday

Don Lemon Faces KKK Act Charges On MLK Holiday

Update (1408ET):

Assistant Attorney General for Civil Rights Harmeet Dhillon told conservative podcaster Benny Johnson that former CNN host Don Lemon has been put "on notice" by the Justice Department and could face charges under federal civil-rights laws, including the Ku Klux Klan Act, for his role in storming a church service in Minnesota. Lemon allegedly joined a far-left mob that was on the hunt for a pro-ICE pastor at a St. Paul church. 

"The Klan Act is one of the most important federal civil rights statutes. Its a law that makes it illegal to terrorize and violate the civil rights of citizens. Whenever people conspire to do this, the Klan Act can be used," Dhillon told Johnson. 

Dhillon continued, "Everyone in the protest community needs to know that the fullest force of the federal government is going to come down and prevent this from happening and put people away for a long time."

"There is zero tolerance for this kind of illegal behavior and we will not stand for it," she emphasized. 

Johnson wrote on X, "DOJ confirms Don Lemon has zero 'journalism' protections against FACE Act violations. Lemon was fully aware of the violations and may face KKK Act conspiracy charges."

Lemon faces being charged with the KKK Act on Martin Luther King Jr. Day. 

*   *   * 

Washed-up former CNN host Don Lemon has been put on notice by the U.S. Department of Justice over claims that he joined a far-left group of anti-ICE protesters who stormed a Sunday church service in St. Paul, Minnesota.

"A house of worship is not a public forum for your protest! It is a space protected from exactly such acts by federal criminal and civil laws! Nor does the First Amendment protect your pseudo journalism of disrupting a prayer service," Harmeet Dhillon, the DoJ's assistant attorney general for civil rights, wrote on X.

"You [Lemon] are on notice!" Dhillon wrote. In a separate post, she said that the FBI has been "activated" and accused the left-wing mob of "desecrating a house of worship and interfering with Christian worshippers."

She also said, "The DoJ's Civil Rights division is investigating the potential violations of the federal FACE Act by these people desecrating a house of worship and interfering with Christian worshippers."

Dozens of left-wing activists, some potentially paid agitators and others who admitted they were from out of town, stormed the Cities Church sanctuary on Sunday after believing that one of the pastors was the acting director of ICE's St. Paul field office.

Attorney General Pam Bondi wrote: "I just spoke to the pastor in Minnesota whose church was targeted. Attacks against law enforcement and the intimidation of Christians are being met with the full force of federal law. If state leaders refuse to act responsibly to prevent lawlessness, this Department of Justice will remain mobilized to prosecute federal crimes and ensure that the rule of law prevails."

White House Press Secretary Karoline Leavitt warned: "President Trump will not tolerate the intimidation and harassment of Christians in their sacred places of worship."

Baptist minister Paul Chappell condemned Lemon and the left-wing activists:

We condemn the actions of Don Lemon and the group of activists who stormed Cities Church today in St. Paul, Minnesota, in clear violation of the FACE Act. Christians everywhere should demand that the Department of Justice arrest those who participated. We must protect religious liberty in this country.

Left-wing violence in Democrat-run blue cities in America is absolutely alarming. The president last week threatened to invoke the Insurrection Act to restore order in Minneapolis after dark-money funded nonprofits and militant left-wing groups mounted pressure campaigns to impede federal deportation operations of criminal illegal aliens.

Meanwhile, left-wing Minneapolis Mayor Jacob Frey has demanded the troops "get the f*** out of Minneapolis." The mayor did admit in a television interview about a network of nonprofits operating a pressure campaign against the federal government.

Trump has sent 3,000 ICE agents to the sanctuary city, with 1,500 troops on standby if social unrest worsens.

What's important to understand is that if temperatures hadn't been averaging around 10F, the Democratic Party and its billionaire-funded NGO network would have unleashed riots and chaos if temperatures had been just a bit warmer. This is a warning that Democrats are preparing to unleash chaos come spring, whether protests, riots, and whatever else, as we've warned - this is part of a color-revolution operation. This is highly organized and structured.

Related:

Why a left-wing mob and a former CNN host are roaming a sanctuary city hunting for a church pastor sounds like something that would only happen under Marxist regimes in third-world countries.

Lemon, in damage control mode, calls everything that happened "fake news" ... 

Let's not forget that even the deep state publication The Atlantic had to admit an uncomfortable truth for Democrats: "Left-Wing Terrorism Is on the Rise."

Tyler Durden Mon, 01/19/2026 - 14:08

Nobel Foundation Says Prize Can't Be Passed On To Others After Trump–Machado Meeting

Nobel Foundation Says Prize Can't Be Passed On To Others After Trump–Machado Meeting

Authored by Jack Phillips via The Epoch Times (emphasis ours),

The Nobel Foundation said Sunday reiterated its prestigious Nobel Peace Prize cannot be passed on to another person after a Venezuelan opposition leader gifted the prize that she won to President Donald Trump last week.

President Donald Trump meets with Venezuelan opposition leader Maria Corina Machado in the Oval Office, during which she presented the President with her Nobel Peace Prize, on Jan. 15, 2026. Daniel Torok/The White House/Handout via Reuters

During a meeting at the White House on Jan. 15, the leader, Maria Corina Machado, gave her Peace Prize medal to Trump, which the president accepted.

However, the Nobel Foundation weighed in on the matter on Sunday, asserting that the prize can’t be transferred.

“One of the core missions of the Nobel Foundation is to safeguard the dignity of the Nobel Prizes and their administration. The Foundation upholds Alfred Nobel’s will and its stipulations,” it said in a statement, referring to the Swedish chemist and inventor of dynamite who started the foundation in the late 19th century.

The will of Nobel had said that the prizes should be given to people who “have conferred the greatest benefit to humankind,” the statement said, adding that his will also “specifies who has the right to award each respective prize.”

“A prize can therefore not, even symbolically, be passed on or further distributed,” the foundation said.

After the prize was awarded to Machado last year, she said she would give it to Trump. She also backed the U.S. military operation that led to the capture of Venezuelan socialist leader Nicolás Maduro earlier this month, although Trump has said that he would not support installing Machado as the leader of Venezuela and instead suggested that Maduro’s vice president, Delcy Rodriguez, be in charge of the country.

In a social media post on Jan. 15, Trump wrote that “Maria presented me with her Nobel Peace Prize for the work I have done. Such a wonderful gesture of mutual respect. Thank you Maria!”

Machado last week said the gift was in recognition of what she called his commitment to the freedom of the Venezuelan people. The White House later posted a photo of Trump and Machado with the president holding up a large, gold-colored frame displaying the medal.

Text of the statement that she wrote said: “To President Donald J. Trump In Gratitude for Your Extraordinary Leadership in Promoting Peace through Strength.” She labeled the gesture as a “Personal Symbol of Gratitude on behalf of the Venezuelan People.”

Trump had openly campaigned for the prize before Machado was awarded it, saying that he was snubbed after having ended wars around the world, including in the Middle East, and is seeking to end more armed conflicts.

Asked on Wednesday if he wanted Machado to give him the prize, Trump told the Reuters news agency: “No, I didn’t say that. She won the Nobel Peace Prize.”

In October 2025, Trump said that Machado had called him, telling him she was “accepting this in honor of you, because you really deserved it.“

After his capture, Maduro and his wife appeared in a federal courtroom in New York and pleaded not guilty to a range of charges, including drug trafficking. The Trump administration said that he was heavily involved in the smuggling of narcotics, namely cocaine, sourced from neighboring Colombia to other countries, including the United States.

The U.S. military under the Trump administration, meanwhile, has seized roughly a half-dozen oil tankers that officials say were trying to evade U.S. sanctions, including a vessel that was flying a Russian flag.

Reuters contributed to this report.

Tyler Durden Mon, 01/19/2026 - 13:50

Nigerian King Must Pay $72k Restitution For Defrauding NC Medicaid During Pandemic

Nigerian King Must Pay $72k Restitution For Defrauding NC Medicaid During Pandemic

Authored by Stephen Horn via The Triangle Trumpet,

Ekelekamchukwu Alphonsus Ngwadom, 61, received a suspended sentence requiring three years probation and $72,014.66 in restitution after pleading guilty to twenty-seven felonies in regards to hundreds of Medicaid claims for children’s therapy he fraudulently filed in 2020 and 2021 at his Raleigh practice, Almarch Counseling. (¹, ², ³)

Mugshot: Ekelekamchukwu Alphonsus Ngwadom

It was during this same period that Ngwadom was crowned King or “Eze” of the Mbubu-Amiri kingdom in Nigeria’s Imo State, according to a local news source which also identified him as the Chairman of African Diaspora Coalition of North Carolina and Professor of Psychology and Sociology at the University of Mount Olive. (There are many such “traditional rulers“ recognized by and holding limited power under the Federal Republic of Nigeria).

Ngwadom is listed as the Director of Partnerships and Development for Nigerian Mental Health Practitioners USA and a member of the Board of Trustees of the Nigeria-American Institute for Mental Health.

Records show Ngwadom resides at a Garner address and has voted in Johnston County since 2008.

Investigation and prosecution

According to a search warrant obtained by the Medicaid Investigation Division of the North Carolina Department of Justice, Ngwadom’s practice was flagged by Alliance Health, the manager of the NC Medicaid plan for counties including Wake, Johnston, and Durham.

Ngwadom’s fraud was revealed when a legitimate claim for therapy was submitted for one of the children for which he had filed fraudulent claims, and it was discovered that the family had never received services from Ngwadom or Almarch Counseling.

In the ensuing investigation into the “overlapping services,” a total of 210 fraudulent claims were identified involving children from three families who never receiving services from Ngwadom or Almarch Counseling:

  • fifty-two claims for two minor children for a total of $3,037.28

  • one hundred and three claims for three minor children for a total of $8,476.88

  • fifty-five claims for two minor children for a total of $3,529.46

At sentencing, the state prosecutor explained that Ngwadom had met these families through an after-school program in the years prior to the pandemic, as reported by the News & Observer.

Although the search warrant was obtained and executed in 2022, the charges were not filled until January 2025.

The total amount of fraudulent claims submitted by Ngwadom totaled $72,014.66 across 27 Medicaid recipients between February 18, 2020, and March 18, 2021, according to a press release by Attorney General Jeff Jackson.

Ngwadom plead guilty to twenty-seven counts of obtaining property by false pretenses, a Class H felony, and received a sentence of 6-17 months incarceration, which was suspended with the following conditions:

  • three years probation

  • ninety days house arrest

  • surrendering professional license

  • one hundred hours community service

  • $72,014.66 in restitution

Zero stars: state inspections find repeat deficiencies at adult care facility

Outside of his counseling practice, Ngwadom’s five-bed adult residential care facility Almarch Family Care in Rocky Mount has racked up numerous statements of deficiency and penalties from the NC Division of Health Service Regulation which licenses and inspects such facilities, which assigned AFC a rating of zero out of four stars at seven out of the last eight inspections.

The NCDHSR website only lists penalties for the past 36 months, in which time AFC has racked up $35,200 in penalties, with $16,700 paid in full and the most recent $18,500 under appeal.

Sixteen statements of deficiencies are listed for the nineteen inspections since 2015, with the most recent statement consisting of eighty-four pages detailing how the facility violated at least nine rules, including by failing to have certified staff, failing to meet health care needs, failing to properly store and administer prescribed medication, and failing to implement an activity program.

AFC is located at an 1825 sq. ft. home in a residential neighborhood in east Rocky Mount; although Ngwadom’s lawyer cited his need to take out a second mortgage in order to pay the $72k restitution, Edgecombe County records show that Ngwadom and his wife Ngozichukwuka Mary Ngwadom sold the AFC property for $10 to a “Chukwuebuka Michael C Ngwadom” less than two months before his sentencing. (The property has a tax valuation of $113,866.00).

Google Streetview: the Rocky Mount residence listed as the location of Ngwadom’s deficient adult care facility Raleigh provider recruited refugees for Medicaid scam

Although perhaps not as prevalent as the recently publicized Somali scams in Minnesota, Ngwoma is not the only Nigerian to be charged with Medicaid fraud relating to “therapy” services in the Raleigh area, with a recent case matching a pattern of fraud enabled by modern immigration and welfare policy.

An investigation into the billing practices of “Our Treatment Center,” a Medicaid provider in Raleigh, resulted in the conviction of seven “mental health practitioners,” according to a June 2025 press release by the U.S. Attorney’s Office, Eastern District of North Carolina, with at least three of the fraudsters appearing to have African origins:

The charging documents allege that OTC recruited “refugees” in North Carolina in order to fraudulently bill Medicaid for providing “social assistance” to the “indigent” foreigners for services not covered by the welfare program, including:

  • assistance with reading and understanding mail

  • understanding the American legal system

  • assistance with English as a second language

  • transportation to grocery stores, the Division of Motor Vehicles, and other appointments

Ondachi and Onuzulike are alleged to have helped recruit the refugees, obtaining Medicaid Identification Numbers and personally identifiable information from entire households of refugees with the promise of this “assistance with social needs.”

The scheme then involved fraudulently billing these services to Medicaid as “psychotherapy,” with Ondachi, Ezugwu, and Onuzulike each being accused of fabricating psychotherapy notes to justify billing for these non-psychotherapy services, and altering the dates/times of the services provided to meet the Medicaid coverage limitation of only one hour of psychotherapy per patient per day.

Tyler Durden Mon, 01/19/2026 - 13:27

Trump To Norway: No Nobel, No Greenland? The Letter That Has Shocked Europe

Trump To Norway: No Nobel, No Greenland? The Letter That Has Shocked Europe

As news began breaking very early Monday of President Trump's scathing letter to Norway over the country's failure to award him the Nobel Peace Prize, some pundits and journalists immediately questioned whether it is real.

But confirmation came soon after. In the letter addressed to Norwegian Prime Minister Jonas Gahr Store, Trump explained that he no longer feels obligated to focus exclusively on peace, while repeating his intent for US control over Greenland. In essence he lays out that no Nobel might turn into no Greenland for Europe (as Denmark exercises control over the resource-rich autonomous territory).

The White House/Reuters

"Dear Jonas: Since your country decided not to give me the Nobel Peace Prize for stopping 8 wars PLUS, I no longer feel an obligation to think purely of peace, although it will always be dominant, but can now think about what is good and proper for the United States," the US President wrote.

Such is an example of kind of over the top and trolling-style rhetoric in the letter which has given people pause, questioning its authenticity. 

"Denmark cannot protect this land from Russia or China… The world is not secure unless we have complete and total control of Greenland," he added.

As for whether Trump indeed wrote it, and concerning the bombastic letter's authenticity, Forbes has noted that "According to PBS Newshour’s Nick Schifrin, who first reported on the matter, the letter has been forwarded by the National Security Council staff to multiple European ambassadors in Washington."

The President also in the letter takes the opportunity to bash Denmark, saying it cannot protect Greenland from Russia or China, and again questioned its legal rights to Greenland: "There are no written documents; it’s only that a boat landed there hundreds of years ago, but we had boats landing there, also."

The message in full, as first reported by a PBS correspondent:

Hours later, Norway issues a full, formal response:

Statement from Prime Minister Jonas Gahr Støre regarding communications with President Donald Trump.

"I can confirm that this is a text message that I received yesterday afternoon from President Trump. It came in response to a short text message from me to President Trump sent earlier on the same day, on behalf of myself and the President of Finland Alexander Stubb. In our message to Trump we conveyed our opposition to his announced tariff increases against Norway, Finland and select other countries. We pointed to the need to de-escalate and proposed a telephone conversation between Trump, Stubb and myself on the same day.

The response from Trump came shortly after the message was sent. It was his decision to share his message with other NATO leaders. Norway’s position on Greenland is clear. Greenland is a part of the Kingdom of Denmark, and Norway fully supports the Kingdom of Denmark on this matter. We also support that NATO in a responsible way is taking steps to strengthen security and stability in the Arctic. As regards the Nobel Peace Prize, I have clearly explained, including to president Trump what is well known, the prize is awarded by an independent Nobel Committee and not the Norwegian Government."

Norway's PM Store has since explained that letter came in response to a joint message he had earlier sent to Trump together with Finnish President Alexander Stubb, rejecting White House plans to impose higher tariffs on Scandinavian countries. Other leading EU countries have also complained and are pushing back publicly:

MERZ: GERMANY, EU ALLIES DETERMINED TO AVOID TARIFF ESCALATION

"We pointed out the need to de-escalate the exchange and requested a phone call between President Trump, President Stubb and myself," Store said, and reiterated Norway's stance on Greenland is unchanged.

Tyler Durden Mon, 01/19/2026 - 13:15

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