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New Mexico strikes gold in $1.5 million crypto clash

The New Mexico Securities Division has successfully concluded an investigation into TradeStation’s cryptocurrency interest-earning program, resulting in a significant $1.5 million settlement. TradeStation, a Florida-based firm known for its cryptocurrency investment and trading services, offered a program from 2020 to 2022 that allowed New Mexico investors to lend their crypto assets to the company in exchange for interest earnings.

This innovative program caught the attention of regulatory authorities in New Mexico and other states, sparking inquiries into whether it constituted the offering of unregistered securities. TradeStation, while opting to settle, did not acknowledge any wrongdoing related to the potential regulatory concerns raised by the program.

As part of the resolution, TradeStation has revised its terms of service and committed to discontinuing the interest-earning feature for any financial instruments that are not regulated. The company has agreed to disburse a total fine of $1.5 million, to be divided evenly among 51 participating jurisdictions, as outlined in the settlement agreement.

New Mexico’s share of the settlement amounts to over $29,000, which will be allocated to the state’s Current School Fund, as confirmed by the Regulation and Licensing Department. This fund supports various educational initiatives and programs across the state, ensuring that the settlement contributes to the betterment of New Mexico’s educational landscape.

Alissa Berger, an attorney representing the New Mexico Securities Division, emphasized the division’s dedication to safeguarding investors and maintaining trust in the investment landscape. “The Securities Division is committed to protecting investors and ensuring New Mexicans have confidence when investing their money,” she stated. Berger also highlighted the importance of regulatory compliance for companies operating within the burgeoning field of cryptocurrency and related technologies. She added, “State securities regulators recognize the value that new, crypto-related technology brings to financial markets, but it is imperative those providing these services are complying with existing laws and regulations that help promote a competitive capital market.”

This settlement marks a significant step in the ongoing effort to regulate the rapidly evolving cryptocurrency market and ensure that investment products comply with established legal and regulatory frameworks.

New Mexico man falls victim to the ‘Black Death’

A resident of New Mexico recently succumbed to the bubonic plague, historically known as the “Black Death,” for its devastating impact on European populations during the Middle Ages. This incident is the second fatality in the state attributed to this ancient affliction since 2020, according to reports from Knewz.com.

The individual, of Lincoln County, whose identity has not been disclosed, was receiving medical treatment for the plague, which is transmitted by fleas found on rodents and can spread to humans through flea bites, as stated by the New Mexico Department of Health on March 8.

State Public Health Veterinarian Erin Phipps commented on the situation, stating, “This tragic incident serves as a clear reminder of the threat posed by this ancient disease and emphasizes the need for heightened community awareness and proactive measures to prevent its spread.”

The health department has highlighted the risk posed by pets that are allowed to wander and hunt, as they can bring infected fleas into homes, thereby increasing the risk of human infection, per the outlet.

An environmental investigation is underway to evaluate the potential risk to the community.

Symptoms of the plague in humans typically include a sudden onset of fever, chills, headache, and fatigue, accompanied by painful lymph node swelling in areas such as the groin, armpit, or neck. In pets, symptoms can manifest as fever, lethargy, loss of appetite, and possibly swollen lymph nodes under the jaw.

Without a vaccine available for plague prevention, health authorities stress the importance of minimizing contact with potentially infected rodents and taking steps to protect pets from flea exposure.

Recommendations for residents include preventing pets from roaming freely, using flea control products, and maintaining yards by removing or relocating woodpiles, brush, and compost heaps to deter rodent habitation.

The health department also advises immediate medical attention for anyone displaying symptoms of the plague in themselves or their pets, as early diagnosis and antibiotic treatment can significantly lower the mortality risk.

The most recent plague case before this one in New Mexico occurred in Torrance County in 2021. The state reported four cases in 2020 in Torrance County, Santa Fe County, and Rio Arriba County.

The Centers for Disease Control and Prevention (CDC) notes that most U.S. cases of human plague are found primarily in two regions: a section of the West Coast encompassing parts of California, Oregon, and western Nevada, and a Southwest area spanning northern New Mexico, northern Arizona, and southern Colorado. Since 1970, New Mexico has recorded the highest incidence of plague in the nation, followed by Colorado.

Plague was introduced to the U.S. in 1900 through rat-infested steamships, mostly arriving from Asia, with the last urban outbreak occurring in Los Angeles between 1924 and 1925. While plague outbreaks have been reported in Africa, Asia, and South America since then, the majority of human cases since the 1990s have been in Africa.

The Black Death pandemic of 1347-1351 stands as one of the deadliest events in human history, eradicating an estimated 30 to 60% of Europe’s population, as per Britannica.

Kamala Harris’ husband visits ABQ to tout Biden’s costly $1.2 trillion law

Following Joe Biden’s State of the Union speech, Kamala Harris’ husband, Douglas Emhoff, made a visit to Albuquerque to highlight updates being made at the Albuquerque International Sunport due to federal funds. 

At a press event held at the airport on Friday, Emhoff praised the infrastructural enhancements being made, aligning with the themes Joe Biden emphasized in his recent address, particularly the importance of investing in infrastructure for “community-wide” benefits.

The Sunport has benefited from approximately $20 million in federal grants from Biden’s infrastructure law, enacted in 2021. The federal boondoggle added $1.2 trillion to the national debt. 

These funds have been allocated to various airport projects, including the upgrade of passenger bridges, the revamp of the baggage claim area, and the improvement of electrical systems. 

Emhoff highlighted the significance of these upgrades, stating, “These new … bridges will ensure passengers and employees can get on and off aircraft safely,” and acknowledging the stress associated with baggage claim processes that these improvements will alleviate.

In addition to the grants, the Sunport utilizes around $66 million from Passenger Facility Charge funds, bringing the total federal investment in the airport’s renovation to $86 million. 

The infrastructure law has provided nearly $1 billion to airports nationwide, with the Sunport and others, such as Chicago’s O’Hare and Appleton International Airport in Wisconsin, being notable beneficiaries.

Lauren Dudley, the FAA’s assistant administrator, accompanied Emhoff and praised the Sunport as a model for airports nationwide. 

This is Emhoff’s second visit to Albuquerque after visiting the state in 2021.

Lujan Grisham vetoes law enforcement recruitment bill, other measures

In the 2024 legislative session, state legislators passed over 70 pieces of legislation, all of which required the governor’s signature to become official laws. Governor Michelle Lujan Grisham signed the majority of these bills, especially those she had specifically requested lawmakers to consider.

Despite the high rate of approval, two bills were “pocket vetoed” by the governor, meaning she let the deadline pass without signing them. These were Senate Bill 129, aimed at enhancing the implementation and reporting of cybersecurity procedures within government agencies, and Senate Bill 175, which sought to establish a fund for law enforcement recruitment. S.B. 129 passed the Senate 37-0 and the House 58-0. S.B. 175 received a 39-0 vote in the Senate and a 64-1 vote in the House, with far-left anti-law enforcement Rep. Angelica Rubio (D-Las Cruces) being the sole vote against. 

Although Senate Bill 175 did not receive approval, the governor allocated $25 million through the state budget for law enforcement and correctional officer recruitment.

Additionally, Governor Grisham outright vetoed Senate Bill 217, which proposed transferring over $80 million from the state’s severance tax bonding fund to the severance tax permanent fund. The governor reasoned that a previous bill had already significantly contributed to the severance tax permanent fund, rendering Senate Bill 217 unnecessary.

The governor also made selective vetoes within the massive $10.2 billion state budget, mainly targeting language that she believed would restrict spending inappropriately. For instance, she vetoed a stipulation that tied $1 million allocated to the General Services Department to the publication of building use fees and removed restrictions on the state healthcare authority’s capacity to expand Medicaid eligibility.

One notable veto was against language limiting the New Mexico Public Education Department’s power to mandate a 180-day school year. Following this, on March 7, the Public Education Department announced it would implement the 180-day requirement, despite the Legislature’s firm stand against such mandates.

N.M. city ranked among U.S. cities with smallest credit card debt increase

In a surprising move from the usual bad rankings for New Mexico, one city in the Land of Enchantment has been ranked among the top 10 cities with the smallest increase in credit card debt.

According to WalletHub, which did the study, “To determine the cities with the largest and smallest credit card debt increases, WalletHub compared more than 180 cities based on the latest consumer-finance data available from TransUnion and the Federal Reserve, adjusted for inflation.”

Las Cruces ranked as the city with the seventh lowest increase in the nation. The city’s residents had $11,452 in average credit card debt while the increase in this debt was only $351. 

Charlie Barks, Unsplash.

For comparison, the city with the largest increase in credit card debt is California’s Rancho Cucamonga, with a $3,360 increase and a $18,326 total balance.

Albuquerque was also ranked on the list with the 113th-highest increase in credit card debt. Residents had an average balance of $11,529, which increased by $1,116.

“Data used to create this ranking were collected as of February 16, 2024 from the U.S. Census Bureau, Federal Reserve and TransUnion,” WalletHub wrote

Source: WalletHub

Dem NM land commissioner shakes down oil producers for more cash

The New Mexico State Land Office has announced a pause on leasing its most lucrative oil and natural gas sites in the Permian Basin after legislation during the 2024 Legislative Session to shake down oil and gas producers for more money via higher royalty rates failed. 

Land Commissioner Stephanie Garcia Richard highlighted the effort to increase the current top royalty rate of 20 percent to 25 percent, a move that has seen repeated setbacks despite the Democrats dominating both chambers of the Legislature.

The proposal aims to align New Mexico’s royalty rates with those of Texas, which can go as high as 25 percent for oil and gas extraction on state trust lands. The Permian Basin, a hotspot for drilling, spans southeastern New Mexico and parts of western Texas. Texas’ royalty rates haven’t risen since the late 1990s, so the sudden attempt to hike rates appears solely politically motivated.

Revenue from oil and gas royalties in New Mexico contributes to a substantial investment trust that supports public education, universities, and healthcare institutions. 

Garcia Richard emphasized her duty to optimize returns for the beneficiaries, stating, “I am a fiduciary on behalf of the school kids. It’s my job to make them the most money possible, and leasing these tracts below market rate means that school kids are subsidizing the oil and gas activity.” But with pauses on these leases, there will be no revenue coming in on the tracts in question.

The New Mexico Oil and Gas Association, through its CEO Missi Currier, expressed concern that halting new leases could disadvantage both the industry and the public who benefit from the revenues. Currier noted that New Mexico’s existing tax and royalty framework is competitive with neighboring states. 

The Independent Petroleum Association of New Mexico’s Executive Director Jim Winchester wrote following the news, “The State Land Office has unilaterally decided to cut off future revenues to state beneficiaries and the general fund by suspending new leasing of premium tracts. IPANM strongly opposes this action especially considering the decision was abruptly announced without any consideration of the economic impact to all New Mexicans.”

The suspension of lease sales, starting with up to six leases in March’s auction, represents a small fraction of total transactions but signals a significant shift in policy. Garcia Richard re-elected for a second term in 2022, acknowledged the short-term loss of revenue from bonus payments due to the suspension but likened the strategy to a homeowner waiting for a more favorable market to sell property, emphasizing the long-term financial benefits. Time will tell if Richard’s shakedown will work. 

Mom packs up family, flees NM over school’s woke ‘transgender closet’

Rachael Hein made the decision to move her family from New Mexico to Missouri, prompted by her concerns over policies at her daughter’s school, Las Cruces Centennial High School, particularly a facility known as “the transgender closet,” according to Fox News.

Hein told the outlet about her decision, mentioning how a Facebook post led her to investigate the gender-inclusive closet initiative at the high school. “I had to verify it because I don’t immediately take everything on Facebook at face value,” she said. Upon confirmation, Hein felt compelled to act, citing discomfort with the environment her daughter was being exposed to and the potential for her children to be influenced by messages she didn’t agree with.

The controversy stemmed from a grant awarded to the high school by the It Gets Better organization in 2022, aimed at supporting trans and gender non-conforming students by providing a gender-inclusive space stocked with affirming supplies and clothing.

Jfullbright31, Wiki Commons.

Hein’s dissatisfaction with the educational system wasn’t new. The pandemic had already made her more engaged with her children’s schooling, leading her to experiment with homeschooling and online education. The decision to add 10 extra days to the school calendar for the 2022-2023 year, described by Hein as “party days,” added to her frustration, feeling they lacked educational value.

Hein was particularly disillusioned with the response from school boards and education officials, feeling her concerns were acknowledged but not genuinely considered. “It seemed like they were on a predetermined course, regardless of community feedback,” she expressed.

Cardozo School of Law. dyjpt, Wiki Commons.

The move to Missouri represented a significant shift for Hein and her family, who found the new environment more receptive to parental involvement and community engagement. “It’s a different vibe here; more communal and safer for my kids to just be kids,” Hein noted.

Despite her departure from Las Cruces, Hein encouraged those remaining to stay active and involved in the educational conversation. “Change only happens when people speak up and participate, rather than staying silent on the sidelines,” she advised.

Fox News Digital sought a comment from Las Cruces Centennial High School, which has not yet provided a response.

See what Gov. Lujan Grisham vetoed from her massive $10.2 billion budget

Democrat New Mexico Gov. Michelle Lujan Grisham enacted numerous line-item vetoes in the massive $10.2 billion House Bill 2 budget. Wednesday was the last day to sign or veto legislation otherwise it is by default pocket vetoed.

The governor’s vetoes, reflecting a strategic adjustment of the executive branch’s budgetary powers, axed several legislated spending specifics, reducing the Legislature’s prescribed utilization of funds.

She wrote in her veto message, “…I have vetoed parts of the Act that impermissibly intrude into the executive managerial function. I object to provisions in the Act that unduly restrict appropriations to specified types of expenditures. These restrictions on agency functions exceed the Legislature’s proper, constitutionally defined role, unduly constraining the Executive’s ability to effectively administer programs to meet the State’s needs.”

Governor Grisham also reduced various reporting obligations of executive agencies, continuing her trend of continuing her quest for less oversight from the Legislature.

In a turn that veered from her administration’s usual narrative, Governor Grisham removed numerous mentions of “evidence-based” services, an approach her office often champions for its program expansions.

Notably, the governor refrained from vetoing the $6 million allocated for legislative district staffing.

While only a single junior appropriation item was entirely eliminated, Governor Grisham revised numerous others, subtly redirecting the flow and application of funds.

The governor’s vetoes affected a wide array of appropriations and mandates, ranging from education, health, infrastructure, to cultural initiatives. This included the removal of restrictions on the Department of Education regarding the number of instructional days and school week configurations, as well as blocking expansions in Medicaid eligibility without legislative consent.

A significant $50 million destined for the unestablished Indian Education Trust Fund was struck down, alongside a $24 million earmark for a Paid Family and Medical Leave Act bill, which did not pass in the legislative session.

Other notable vetoes targeted special appropriations for health facilities in Taos County and Tucumcari, Quay County, with the word “construction” being specifically removed.

The Veterans Services Department faced a cut regarding a mobile unit meant to expand outreach services. At the same time, earmarks for the Navajo Nation and Zuni Pueblo, as well as for the University of New Mexico’s School of Public Health, were also scrapped.

Changes to junior appropriations spanned a spectrum from public-private partnerships to cultural events, highlighting the governor’s nuanced approach to budget management.

To read the governor’s full executive veto message, it is available linked here. The final version of H.B. 2 is linked here under “Final Version.”

Jury delivers guilty verdict for armorer in deadly Alec Baldwin ‘Rust’ case

Hannah Gutierrez-Reed has been found guilty of involuntary manslaughter following the fatal shooting of cinematographer Halyna Hutchins on the set of the film “Rust” in October 2021. Despite facing allegations of evidence tampering related to a supposed cocaine exchange, the jury acquitted her of this charge. 

The verdict came swiftly from a Santa Fe County jury after less than three hours of deliberation, leading to Gutierrez-Reed’s immediate custody pending sentencing, where she could face up to 18 months in prison.

As the film’s armorer, Gutierrez-Reed was responsible for the firearms used on set. The prosecution argued that her negligence in allowing live ammunition to mix with prop rounds directly led to the tragic incident, where a live bullet discharged from a revolver held by Alec Baldwin resulted in Hutchins’ untimely death. 

Baldwin, who faces similar charges, has pled not guilty, with his trial set for July.

The First Judicial District Attorney’s Office has expressed its dedication to seeking justice for Hutchins’ family, highlighting the thorough investigation that underpinned the prosecution’s case. The trial featured extensive testimonies and evidence, educating jurors on firearms handling in film productions. 

The defense likened Gutierrez-Reed’s mistake to a medical error, asserting her innocence due to the lack of willful disregard for safety. However, the prosecution countered by presenting evidence suggesting Gutierrez-Reed was the source of the live ammunition found on set, criticizing her professionalism and safety protocols. 

The jury also had the option to consider a lesser charge related to negligent firearm use, but ultimately convicted Gutierrez-Reed of involuntary manslaughter.

Ex-BLM employee’s $10.7K fraud scheme included personal flight to NM

Adrian Anthony Aragon, a 52-year-old from Butte, Montana, and a former employee at the Bureau of Land Management (BLM), acknowledged his involvement in a scheme in which he illicitly acquired $10,700 from government resources, utilizing a colleague’s forged signature for personal gains.

As an administrative assistant at BLM, Aragon had access to official financial tools, including a government travel card and a purchase card, which were meant strictly for work-related expenses. 

“The indictment in the case said Aragon used the government cards to pay for $2,500 in pottery, a $622 personal flight to New Mexico and cash withdrawals. The government alleged he attempted additional cash withdrawals and also tried to rent a car using the government card while on personal vacation. Aragon tried to cover his tracks by doctoring the statement on the card for the pottery and the flight, according to the U.S. Attorney’s Office,” wrote the Daily Montanan.

BLM Field Office in Butte, Montana. DOI.

The misconduct came to light when an unnamed BLM worker, referred to as Jane Doe, reported unauthorized transactions totaling $10,700 on a government account under her name. Investigations revealed the funds were diverted to Aragon’s accounts at Wells Fargo and squandered on various personal expenditures.

Jane Doe indicated that Aragon manipulated office schedules to ensure he was often alone in the office, giving him the opportunity to misuse her financial documents. 

Further inquiries unveiled Aragon’s misuse of government-issued cards for non-official purposes, including a personal trip and luxurious purchases, with attempts to disguise these transactions.

Facing serious charges of government property theft and aggravated identity theft, Aragon now confronts the possibility of significant prison time, hefty fines, and a period of supervised release. His sentencing is anticipated on June 26, as he remains in custody awaiting further court actions.

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