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US announces massive arms sales to Taiwan worth more than $10 billion
Headline Legal News |
2025/12/18 07:05
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President Donald Trump’s administration has announced a massive package of arms sales to Taiwan valued at more than $10 billion that includes medium-range missiles, howitzers and drones, drawing an angry response from China.
The State Department announced the sales late Wednesday during a nationally televised address by the Republican president, who made scant mention of foreign policy issues and did not speak about China or Taiwan. U.S.-Chinese tensions have ebbed and flowed during Trump’s second term, largely over trade and tariffs but also over China’s increasing aggressiveness toward Taiwan, which Beijing has said must reunify with the mainland.
If approved by Congress, it would be the largest-ever U.S. weapons package to Taiwan, exceeding the total amount of $8.4 billion in U.S. arms sales to Taiwan during President Joe Biden’s Democratic administration.
The eight arms sales agreements announced Wednesday cover 82 high-mobility artillery rocket systems, or HIMARS, and 420 Army Tactical Missile Systems, or ATACMS — similar to what the U.S. had been providing Ukraine during the Biden administration to defend itself from Russia — worth more than $4 billion. They also include 60 self-propelled howitzer systems and related equipment worth more than $4 billion and drones valued at more than $1 billion.
Other sales in the package include military software valued at more than $1 billion, Javelin and TOW missiles worth more than $700 million, helicopter spare parts worth $96 million and refurbishment kits for Harpoon missiles worth $91 million.
The eight sales agreements amount to $11.15 billion, according to Taiwan’s Defense Ministry.
The State Department said the sales serve “U.S. national, economic, and security interests by supporting the recipient’s continuing efforts to modernize its armed forces and to maintain a credible defensive capability.”
“The proposed sale(s) will help improve the security of the recipient and assist in maintaining political stability, military balance, and economic progress in the region,” the statements said.
China’s Foreign Ministry attacked the move, saying it would violate diplomatic agreements between China and the U.S.; gravely harm China’s sovereignty, security and territorial integrity; and undermine regional stability.
“The ‘Taiwan independence’ forces on the island seek independence through force and resist reunification through force, squandering the hard-earned money of the people to purchase weapons at the cost of turning Taiwan into a powder keg,” said Foreign Ministry spokesperson Guo Jiakun.
“This cannot save the doomed fate of ‘Taiwan independence’ but will only accelerate the push of the Taiwan Strait toward a dangerous situation of military confrontation and war. The U.S. support for ‘Taiwan Independence’ through arms will only end up backfiring. Using Taiwan to contain China will not succeed,” he added.
Under federal law, the U.S. is obligated to assist Taiwan with its self-defense, a point that has become increasingly contentious with China, which has vowed to take Taiwan by force, if necessary.
Taiwan’s Defense Ministry in a statement Thursday expressed gratitude to the U.S. over the arms sale, which it said would help Taiwan maintain “sufficient self-defense capabilities” and bring strong deterrent capabilities. Taiwan’s bolstering of its defense “is the foundation for maintaining regional peace and stability,” the ministry said.
Taiwan’s Foreign Minister Lin Chia-lung similarly thanked the U.S. for its “long-term support for regional security and Taiwan’s self-defense capabilities,” which he said are key for deterring a conflict in the Taiwan Strait, the body of water separating Taiwan from China’s mainland.
The arms sale comes as Taiwan’s government has pledged to raise defense spending to 3.3% of the island’s gross domestic product next year and to reach 5% by 2030. The boost came after Trump and the Pentagon requested that Taiwan spend as much as 10% of its GDP on its defense, a percentage well above what the U.S. or any of its major allies spend on defense. The demand has faced pushback from Taiwan’s opposition KMT party and some of its population.
for arms purchases, including to build an air defense system with high-level detection and interception capabilities called Taiwan Dome. The budget will be allocated over eight years, from 2026 to 2033.
The U.S. boost in military assistance to Taiwan was previewed in legislation adopted by Congress that Trump is expected to sign shortly.
Last week, the Chinese embassy in Washington denounced the legislation, known as the National Defense Authorization Act, saying it unfairly targeted China as an aggressor. The U.S. Senate passed the bill Wednesday.
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Trump bans travel from 5 more countries, imposes new limits on others
Topics in Legal News |
2025/12/15 07:06
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President Donald Trump‘s administration is expanding its travel ban to include five more countries and impose new limits on others.
This move Tuesday is part of ongoing efforts to tighten U.S. entry standards for travel and immigration. The decision follows the arrest of an Afghan national suspect in the shooting of two National Guard troops over Thanksgiving weekend.
The Republican administration announced it was expanding the list of countries whose citizens are banned from entering the U.S. to include Burkina Faso, Mali, Niger, South Sudan and Syria. The administration also fully restricted travel on people with Palestinian Authority-issued travel documents.
People who already have visas, are lawful permanent residents of the U.S. or have certain visa categories such as diplomats or athletes, or whose entry into the country is believed to serve the U.S. interest, are all exempt from the restrictions. The proclamation said the changes go into effect on Jan. 1.
Trump warned of what he described as an increasingly antisemetic Congress and said the “Jewish lobby” is weakened in the United States as he spoke Tuesday night at a White House Hannukah party.
Hundreds of guests packed the East Room, including some survivors of the Holocaust, a number of lawmakers, Republican donor Miriam Adelson, conservative commentator Mark Levin and conservative activist Laura Loomer.
Trump talked about his support of Israel after the Oct. 7 attacks by Hamas and the subsequent bombing of Iran nuclear sites. He said Jewish people have never had a supporter like him in the White House.
The Trump administration said in its announcement that many of the countries from which it was restricting travel had “widespread corruption, fraudulent or unreliable civil documents and criminal records” that made it difficult to vet their citizens for travel to the U.S.
It also said some countries had high rates of people overstaying their visas, refused to take back their citizens whom the U.S. wished to deport or had a “general lack of stability and government control,” which made vetting difficult. It also cited immigration enforcement, foreign policy and national security concerns for the move.
The Afghan man accused of shooting the two National Guard troops near the White House has pleaded not guilty to murder and assault charges. In the aftermath of that incident, the administration announced a flurry of immigration restrictions, including further restrictions on people from 19 initial countries who were already in the U.S.
The new restrictions on Palestinians come months after the administration imposed limits that make it nearly impossible for anyone holding a Palestinian Authority passport to receive travel documents to visit the U.S. for business, work, pleasure or educational purposes.
The announcement Tuesday goes further, banning people with Palestinian Authority passports from emigrating to the U.S.
In justifying its decision Tuesday, the administration said several “U.S.-designated terrorist groups operate actively in the West Bank or Gaza Strip and have murdered American citizens.”
The administration also said the recent war in those areas had “likely resulted in compromised vetting and screening abilities.”
Countries that were newly placed on the list of banned or restricted countries said late Tuesday that they were evaluating the news. The government of the island nation of Dominica in the Caribbean Sea said it was treating the issue with the “utmost seriousness and urgency” and was reaching out to U.S. officials to clarify what the restrictions mean and address any problems.
Antigua and Barbuda’s ambassador to the United States, Ronald Saunders, said the “matter is quite serious” and he’ll be seeking more information from U.S. officials regarding the new restrictions.
The Trump administration also upgraded restrictions on some countries — Laos and Sierra Leone — that previously were on the partially restricted list and in one case — Turkmenistan — said the country had improved enough to warrant easing some restrictions on travelers from that country. Everything else from the previous travel restrictions announced in June remains in place, the administration said.
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Do Kwon sentenced to 15 years in prison for $40 billion stablecoin fraud
Securities Class Action |
2025/12/10 22:00
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Onetime cryptocurrency mogul Do Kwon was sentenced Thursday to 15 years in prison after a $40 billion crash revealed his crypto ecosystem to be a fraud. Victims said the 34-year-old financial technology whiz weaponized their trust to convince them that the investment — secretly propped up by cash infusions — was safe.
Kwon, a Stanford graduate known by some as “the cryptocurrency king,” apologized after listening as victims — one in court and others by telephone — described the scam’s toll: wiping out nest eggs, depleting charities and wrecking lives. One told the judge in a letter that he contemplated suicide after his father lost his retirement money in the scheme.
Judge Paul A. Engelmayer said at a daylong sentencing hearing in Manhattan federal court that the government’s recommendation of 12 years in prison was “unreasonably lenient” and that the defense’s request for five years was “utterly unthinkable and wildly unreasonable.” Kwon faced a maximum sentence of 25 years in prison.
“Your offense caused real people to lose $40 billion in real money, not some paper loss,” Engelmayer told Kwon, who sat at the defense table in a yellow jail suit. The judge called it “a fraud on an epic, generational scale” and said Kwon had an “almost mystical hold” on investors and caused incalculable “human wreckage.”
Kwon pleaded guilty in August to fraud charges stemming from the collapse of Terraform Labs, the Singapore-based firm he co-founded in 2018. The loss exceeded the combined losses from FTX founder Sam Bankman-Fried and OneCoin co-founder Karl Sebastian Greenwood’s frauds, prosecutors said. Engelmayer estimated there may have been a million victims.
Terraform Labs had touted its TerraUSD as a reliable “stablecoin” — a kind of currency typically pegged to stable assets to prevent drastic fluctuations in prices. But prosecutors say it was an illusion backed by outside cash infusions that came crumbling down after it plunged far below its $1 peg. The crash devastated investors in TerraUSD and its floating sister currency, Luna, triggering “a cascade of crises that swept through cryptocurrency markets.”
Kwon tried to rebuild Terraform Labs in Singapore before fleeing to the Balkans on a false passport, prosecutors said. He’s been locked up since his March 2023 arrest in Montenegro. He was credited for 17 months he spent in jail there before being extradited to the U.S.
Kwon agreed to forfeit over $19 million as part of his plea deal. His lawyers argued his conduct stemmed not from greed, but hubris and desperation. Engelmayer rejected his request to serve his sentence in his native South Korea, where he also faces prosecution and where his wife and 4-year-old daughter live.
“I have spent almost every waking moment of the last few years thinking of what I could have done different and what I can do now to make things right,” Kwon told Engelmayer. Hearing from victims, he said, was “harrowing and reminded me again of the great losses that I have caused.”
One victim, speaking by telephone, said his wife divorced him, his sons had to skip college, and he had to move back to Croatia to live with his parents after TerraUSD’s crash evaporated his family’s life savings. Another said he has to “live with the guilt” of persuading his in-laws and hundreds of nonprofit organizations to invest.
Stanislav Trofimchuk said his family’s investment plummeted from $190,000 to $13,000 — “17 years of our life, gone” during what he described as “two weeks of sheer terror.”
Chauncey St. John, speaking in court, said some nonprofits he worked with lost more than $2 million and a church group lost about $900,000. He and his wife are saddled with debt and his in-laws have been forced to work well past their planned retirement, he said.
Nevertheless, St. John said, he forgives Kwon and “I pray to God to have mercy on his soul.”
A prosecutor read excerpts from some of more than 300 letters submitted by victims, including a person identified only by initials who lost nearly $11,400 while juggling bills and trying to complete college. Kwon had made Terra seem like a safe place to stash savings, the person said.
“To some that is just a number on a page, but to me it was years of effort,” the person wrote. “Watching it evaporate, literally overnight, was one of the most terrifying experiences of my life.”
“What happened was not an accident. It was not a market event. It was deception,” the person added, imploring the judge to “consider the human cost of this tragedy.”
Kwon created an “illusion of resilience while covering up systemic failure,” Assistant U.S. Attorney Sarah Mortazavi told Engelmayer. “This was fraud executed with arrogance, manipulation and total disregard for people.” |
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Top EU official warns the US against interfering in Europe’s affairs
Headline Legal News |
2025/12/06 22:00
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A top European Union official on Monday warned the United States against interfering in Europe’s affairs and said only European citizens can decide which parties should govern them.
European Council President Antonio Costa’s remarks came in reaction to the Trump administration’s new national security strategy, which was published on Friday and paints European allies as weak while offering tacit support to far-right political parties.
It’s “good” that the strategy depicts European countries as an ally, but “allies don’t threaten to interfere in the domestic political choices of their allies,” Costa said.
“What we can’t accept is the threat of interference in European political life. The United States cannot replace European citizens in choosing what the good or the bad parties are,” he said in Paris at the Jacques Delors Institute, a think tank.
Fabian Zuleeg, chief executive at the European Policy Centre think tank, said that stridently nationalist parties in Europe will be emboldened by the strategy document and “will intensify efforts to hollow out the EU from within.”
“Pro-European liberal forces need to finally wake up: Trump’s America is not an ally but an adversary to Europe’s freedoms and fundamental values. His objective is to replace our democratic system with the illiberal populism now entrenched in the U.S.,” Zuleeg said.
The strategy was also critical of European free speech and migration policy. U.S. allies in Europe face the “prospect of civilizational erasure,” the document said, raising doubts about their long-term reliability as American partners.
But Costa, who chairs summits of the 27 national EU leaders, said Europe’s “history has taught us that you can’t have freedom of speech without freedom of information.”
The former Portuguese prime minister also warned “there will never be free speech if the freedom of information of citizens is sacrificed for the aims of the tech oligarchs in the United States.”
Speaking to reporters in Berlin, German government spokesperson Sebastian Hille underlined that “Europe and the U.S. are historically, economically and culturally linked, and remain close partners.”
“But we reject the partly critical tones against the EU,” he said. “Political freedoms, including the right to freedom of expression, belong to the fundamental values of the European Union. We view accusations regarding this more as ideology than strategy.”
The security strategy is the administration’s first since President Donald Trump returned to office in January. It breaks starkly from the course set by President Joe Biden’s Democratic administration, which sought to reinvigorate U.S. alliances.
It comes as the U.S. seeks an end to Russia’s nearly 4-year-old war in Ukraine, a goal that the national security strategy says is in America’s vital interests.
But the text makes clear that the U.S. wants to improve its relationship with Russia after years of Moscow being treated as a global pariah and ending the war is a core U.S. interest to “reestablish strategic stability with Russia.”
Kremlin spokesman Dmitry Peskov has said the document “absolutely corresponds to our vision.” Over the course of the war, Russia has worked to drive a wedge between NATO allies, particularly between the U.S. and Ukraine’s main backers in Europe.
“If we read closely the part about Ukraine, we can understand why Moscow shares this vision,” Costa said. “The objective in this strategy is not a fair and durable peace. It’s only (about) the end of hostilities, and the stability of relations with Russia.”
“Everyone wants stable relations with Russia,” he added, but “we can’t have stable relations with Russia when Russia remains a threat to our security.”
Top EU officials and intelligence officers have warned Russia could be in a position to launch an attack elsewhere in Europe in three to five years should it defeat Ukraine. |
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Netflix to acquire Warner Bros. studio and streaming business
Stock Market News |
2025/12/01 21:59
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Netflix has struck a deal with Warner Bros. Discovery, the legacy Hollywood giant behind “Harry Potter” and “Friends,” to buy its studio and streaming business for $72 billion.
The acquisition, announced Friday, would bring two of the industry’s biggest players in film and TV under one roof and alter the entertainment industry landscape. Beyond its namesake television and motion picture division, Warner owns HBO Max and DC Studios. And Netflix is ubiquitous with on-demand content and has built its own production arm to release popular titles, including “Stranger Things” and “Squid Game.”
“For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture,” David Zaslav, CEO of Warner Bros. Discovery, said in a statement. “By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”
The cash and stock deal is valued at $27.75 per Warner share, giving it a total enterprise value of approximately $82.7 billion. The transaction is expected to close after Warner separates its Discovery Global cable operations into a new publicly-traded company in the third quarter of 2026.
Shares of Warner Bros. rose nearly 3% in premarket trading while shares of Netflix and Paramount fell more than 2%.
Gaining Warner’s legacy studios would mark a notable shift for Netflix’s, particularly its presence in theaters. Under the proposed acquisition Netflix has promised to continue theatrical releases for Warner’s studio films — honoring Warner’s contractual agreements for movie releases.
Netflix has kept most of its original content within its core online platform. But there’s been few exceptions, such as limited theater screenings of a “KPop Demon Hunters” sing-a-long and its coming “Stranger Things” series finale.
“Our mission has always been to entertain the world,” Ted Sarandos, co-CEO of Netflix said in a statement — adding that merging with Warner will “give audiences more of what they love.”
Critics say a Netflix-Warner combo could have negative consequences for movie theaters worldwide. Cinema United — a trade association that represents more than 30,000 movie screens in the U.S. and another 26,000 screens internationally — was quick to oppose the proposed deal, which it said “poses an unprecedented threat to the global exhibition business.”
“Netflix’s stated business model does not support theatrical exhibition. In fact, it is the opposite,” Michael O’Leary, CEO of Cinema United, said Friday — urging regulators to look closely at the impacts. “Theatres will close, communities will suffer, jobs will be lost.”
Netflix had previously steered away from tapping into other parts of the legacy entertainment landscape. As recently as October — when Warner signaled that it was open to a potential sale of its business — Netflix’s Sarandos reiterated on an earnings call that the company had been “very clear in the past that we have no interest in owning legacy media networks” and that there was “no change there.”
“We believe that we can be and we will be choosy,” Sarandos said at the time, without fully ruling out a potential bid for Warner.
Friday’s announcement arrives after a monthslong bidding war for Warner Bros. Discovery. Rumors of interest from Netflix, as well as NBC owner Comcast, starting bubbling up in the fall. But Skydance-owned Paramount, which completed its own $8 billion merger in August, had also reportedly made several all-cash offers backed heavily by CEO David Ellison’s family.
Paramount seemed like the frontrunner for some time — and unlike Netflix or Comcast, was reportedly vying to buy Warner’s entire company, including its cable business housing networks like CNN and Discovery.
Warner announced its intention to split its streaming and studio operations from its cable business in June — outlining plans for HBO, HBO Max, as well as Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, to become part of a new streaming and studios company.
Meanwhile, networks like CNN, Discovery and TNT Sports and digital products such as the Discovery+ streaming service and Bleacher Report would make up a separate cable counterpart.
The Netflix acquisition of Warner’s streaming and studio arm is expected to close in 12 to 18 months — after the company wraps up the spinoff of its cable business. That is now expected in the third quarter of 2026.
The merger has already received approval from shareholders of both Netflix and Warner Bros. Discovery, but it faces significant regulatory hurdles.
The size of the transaction could draw antitrust scrutiny. Beyond TV and movie production, the merger would bring two of the streaming world’s biggest names — Netflix and HBO Max — under the same roof.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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