NORFOLK, Va. - (05/03/06) A former school administratorwas sentenced Tuesday to six years and six months in prison for herrole laundering money for an interstate drug ring. PamelaHoffler-Riddick was convicted of money laundering through heraccount at Virginia Educators CU, which prosecutors said she usedto help a drug dealer buy a car. Hoffler-Riddick, 43, was one of 40people charged in connection with a ring that federal agents saiddistributed $20 million in marijuana and cocaine between 1996 and2004. Before her arrest, Hoffler-Riddick was regional assistantsuperintendent in Prince George County, Md., outside of Washington,D.C.
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The government said it was responding to a jailbreaking risk that Anthropic says is minimal.
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Lawmakers from both parties defended regional Federal Reserve banks against potential consolidation, arguing local economic perspectives are essential to ensure monetary policy remains sound.
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The same groups want the Securities and Exchange Commission to drop its breach-disclosure rule while asking Congress to keep a confidential threat-sharing law.
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The Dutch payment processor has agreed to acquire artificial intelligence-powered fintech biller Orb, its second acquisition in three months in an effort to speed development.
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City National Bank appointed longtime executive David Cameron as chief operating officer; JPMorganChase is selling a limited-edition Lego version of its new midtown Manhattan headquarters; Esquire Financial Holdings received regulatory approval to complete its acquisition of Signature Bank in Chicago; and more.
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CEO Lynn Harton said his Greenville, South Carolina-based bank struggled the past year to keep Navitas from overshooting the limit the bank set for its expanding portfolio, about 10% of total loans.
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