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Bethlehem’s former finance director charged in thefts from city

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Bethlehem’s former finance director charged in thefts from city

BETHLEHEM, Pa. – Bethlehem’s now-former finances and finance director is accused of utilizing metropolis cash to order hundreds of {dollars} price of electronics, then reselling them and pocketing the cash.

Mark Sivak, who was fired from his metropolis place final week amid the investigation, is going through felony fees of theft, receiving stolen property and two different counts, introduced the Northampton County district legal professional on Thursday.

Authorities allege the 44-year-old ordered cell telephones from the town’s account, as a part of his position in distributing cell telephones to metropolis staff, however as an alternative of distributing them, he resold them and pocketed the money.

Paperwork present he offered a complete of 31 metropolis cell telephones between 2019 and April 2022, for a complete of $12,630, the DA stated.

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Sivak additionally admitted to ordering different electronics, price about $2,500, from the town’s Verizon account, and maintaining them for himself, the DA stated. These objects included VR headsets, a speaker, an iPhone and extra.

The investigation began in January of this yr when the town controller observed uncommon exercise in a city-owned checking account, and finally discovered withdrawals from the town account into Sivak’s private checking account. Sivak initially advised police he sells used electronics and has the third-party reseller ship funds to the town’s PayPal to keep away from paying taxes on these objects.

Additional investigation uncovered the cell telephones have been ordered from the town’s account, officers stated.

The mayor’s workplace launched an announcement after the fees have been introduced Thursday.

“…I’m not certain how Mr. Sivak slept at evening,” the assertion stated, partly. “We’re offended within the Mayor’s Workplace, however we have now solely been right here just a few months. Amongst Metropolis Corridor staff who’ve labored with him for years, the violation of belief and stage of anger is way greater.”

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Mayor J. William Reynolds took workplace in January. He stated his workplace has and can proceed to assist in the investigation.

Sivak turned himself into police. His bail is about at $25,000 unsecured.

A preliminary listening to is about for June 22. He faces greater than 20 years in jail, in accordance with the DA.

In line with his public LinkedIn web page, Sivak had labored as the town’s Finance Director since March 2007.

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Stocks rise, S&P 500 set to break losing streak: Yahoo Finance

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Stocks rise, S&P 500 set to break losing streak: Yahoo Finance

The S&P 500 is set to end its 5-day streak of losses. The major indexes (^DJI,^GSPC, ^IXIC) are all trading higher thanks to big-name tech stocks like Nvidia (NVDA) and Tesla (TSLA). One stock that is trading lower is US Steel (X), which fell sharply after President Biden announced he will block Nippon Steel’s (NPSCY) purchase of the company. Other trending tickers on Yahoo Finance today include Rivian Automotive (RIVN), Adobe (ADBE), and Oklo (OKLO).

Key guests include:
3:05 p.m. ET – Ahmed Riesgo, Insigneo Chief Investment Officer
3:15 p.m. ET – Brian Gardner, Stifel Chief Washington Policy Strategist
4:00 p.m. ET – David Miller, Catalyst Funds Co-Founder, Chief Investment Officer and Senior Portfolio Manager
4:35 p.m. ET – Rachel Tipograph, MikMak, founder and CEO

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Finance

Tesla to Announce Q4 2024 Financial Results on January 29, 2025

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Tesla to Announce Q4 2024 Financial Results on January 29, 2025

Tesla (NASDAQ:TSLA) is planning to report its Q4 2024 results displaying their net income and cash flow of the business’s profitability and financial position on January 29, 2025 after market close.

Tesla experienced different stock price fluctuations, as market responses, between 9% and 22% within one day after releasing the results.

Tesla to Announce Q4 2024 Financial Results on January 29, 2025

Tesla’s management will also give their 2025 guidance such as production, models, technology including Full Self-Driving (FSD).

The one-year price targets for Tesla given by 45 analysts are USD 278.47 at the average while ranging from as high as USD 515.00 and the lowest at USD 24.86. The average target is -26.58% from the current price at $379.28.

GuruFocus calculates the GF Value for Tesla one year ahead to be at $298.99 which indicates the stock to be overvalued -21.17% from the current price $379.28.

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You can make more informed investment decision by visiting GuruFocus now and deep dive into Tesla’s performance with charts, breakdowns, 30-year financial data, and more!

This article first appeared on GuruFocus.

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State lawmaker hopes to close campaign finance loophole in 2025 legislative session

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State lawmaker hopes to close campaign finance loophole in 2025 legislative session

SIOUX FALLS, S.D. (Dakota News Now) – A South Dakota lawmaker has filed multiple pieces of legislation he says could help address government accountability.

Senate Bill 12 would limit the amount of money that may be loaned to a candidate or a political action committee (PAC).

Sen. Michael Rohl (R) of Aberdeen hopes that the bill will close a loophole in the South Dakota campaign finance world.

“PACs shouldn’t be personal checking accounts for the ultra-wealthy to be able to buy politicians,” Rohl said.

Currently, South Dakota law limits contributions to a candidate and a PAC at $1,000 and $10,000 respectively.

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However, the state allows unlimited loans, which can be forgiven as bad debt.

“We don’t have campaign finance laws in South Dakota. We just have them for people that are everyday citizens that are trying to follow the spirit of the law, but the bad actors don’t have to follow them,” Rohl said.

Rohl wants to limit the loans to the $1,000 and $10,000 figures that are used for contributions.

In the midst of several fraud investigations amongst state employees, Senator Rohl says accountability in all parts of government is desperately needed.

“I think politicians for a long time have been saying we want to have more transparency in government, but nothing seems to happen so I’m drafting legislation and trying to be true to what I told people I represent I would do.”

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But Rohl is very prepared for a lot of pushback.

“There’s going to be some opposition to it and there’s going to be opposition for the very reason that it needs to go away, and that’s because people are going to be afraid to make their donors mad,” said Rohl.

The Aberdeen senator also filed Senate Bill 11, which limits the amount of money that a political committee may accept from an inactive candidate campaign committee.

The 100th legislative session starts on January 14th.

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