2011jordansforsale.com

Friday, December 12, 2008

Top broker and Wall Street adviser Bernard L. Madoff, aged 70, was arrested and charged by the FBI on Thursday with a single count of securities fraud, also known as stock fraud and investment fraud. He allegedly told senior employees of his firm on Wednesday that his $50 billion business “is all just one big lie” and that it was “basically, a giant Ponzi scheme (since at least 2005).” Mr. Madoff faces up to 20 years imprisonment and a fine of up to $5 million. FBI agent Theodore Cacioppi said Mr. Madoff’s investment advisory business had “deceived investors by operating a securities business in which he traded and lost investor money, and then paid certain investors purported returns on investment with the principal received from other, different investors, which resulted in investors’ losses of approximately $50 billion dollars.”

The former chairman of the Nasdaq Stock Market is also the founder and primary owner of Bernard L. Madoff Investment Securities LLC, the closely-held market-making firm he launched in 1960. The firm is one of the top market maker firms on Wall Street. He founded his family firm with an initial investment of $5,000, after attending Hofstra University Law School. He saved the money earned from a job lifeguarding at Rockaway Beach in Queens and a part time job installing underground sprinkler systems.

A force in Wall Street trading for nearly 50 years, he has been active in the National Association of Securities Dealers (NASD), a self-regulatory organization for the U.S. securities industry. His firm was one of the five most active firms in the development of the NASDAQ, having been known for “paying for order flow,” in other word paying a broker to execute a customer’s order through Madoff. He argued that the payment to the broker did not alter the price that the customer received. He ran the investment advisory as a secretive business, however.

Dan Horwitz, counsel of Mr. Madoff, in an interview, said that “he is a longstanding leader in the financial-services industry with an unblemished record; he is a person of integrity; he intends to fight to get through this unfortunate event.” Mr. Madoff was released on his own recognizance on the same day of his arrest, after his 2 sons turned him in, and posting $10 million bail secured by his Manhattan apartment. Without entering any plea, the Court set the preliminary hearing for January 12.

Madoff’s hedge fund scheme may rank among the biggest fraud in history. When former energy trading giant Enron filed for bankruptcy in 2001, one of the largest at the time, it had $63.4 billion in assets. The scheme would dwarf past Ponzis, and it would further be nearly five times the telecommunication company WorldCom fraud and bankruptcy proceedings in 2002.

The Securities and Exchange Commission filed a separate civil suit on Thursday against Bernard L. Madoff Investment Securities and its eponymous founder Mr. Madoff. It was docketed as “U.S. v. Madoff,” 08-MAG-02735, by the U.S. District Court for the Southern District of New York (Manhattan). SEC, New York associate director of enforcement, Andrew M. Calamari, asked the judge to issue seizure orders on the firm and its assets, and appoint a receiver. The SEC pleads, among others, that “it was an ongoing $50 billion swindle; our complaint alleges a stunning fraud that appears to be of epic proportions.” It further accused the defendant of “paying returns to certain investors out of the principal received from other, different investors” for years. Madoff’s hedge fund business had previously claimed to have served between 11 and 25 clients and had $17.1 billion in assets under management. But virtually all of the assets were missing.

United States District Court for the Southern District of New York Louis L. Stanton on Thursday appointed Lee Richards, a Manhattan lawyer, as the firm’s receiver. A hearing is set for Friday, for a ruling on the SEC’s petition to grant plenary powers to the receiver over the entire firm, and an absolute asset sequestration.

Doug Kass, president of hedge fund Seabreeze Partners Management said that “this is a major blow to confidence that is already shattered — anyone on the fence will probably try to take their money out.”

Wednesday, March 5, 2008

The implosion of a relationship between Wikipedia founder Jimmy Wales and journalist Rachel Marsden has resulted in controversy and international headlines. Associated Press and ABC News have also reported on questionable activity by Wales involving Wikimedia Foundation expenses. The Wikimedia Foundation is a donor-supported non-profit organization which runs Wikipedia.

Marsden had contacted Wales two years ago about concerns she had over the article about her on Wikipedia, and Wales determined the article was not compliant with Wikipedia’s standards. The tech blog Valleywag revealed Wales had a personal relationship with Marsden, and posted supposed transcripts of their instant message conversations on its site, www.valleywag.com. Wales and Marsden met in February, and The Times reported that “An apparent transcript of their conversations before that meeting suggests that, although Mr Wales had withdrawn from the editing process, he was still influencing the editors.” The Times quoted Wales from the chat logs as having stated to Marsden “The truth is of course a much worse conflict of interest than that; but that will do.” — in reference to his conflict of interest regarding Marsden’s article on Wikipedia.

Wales posted a public statement on Saturday on Wikipedia addressing the matter, and stated that his relationship with Marsden was over: “First, while I find it hard to imagine that anyone really cares about my sex life, the facts are: I am separated from my wife. I considered myself single at the time of my one meeting with Rachel Marsden on Feb. 9, 2008 … I am no longer involved with Rachel Marsden. Gossipy stories suggesting that I have been in a relationship with her ‘since last fall’ are completely false … I care deeply about the integrity of Wikipedia, and take very seriously my responsibilities as a member of the board and as a member of the Wikipedia community. I would never knowingly do anything to compromise that trust.” With regard to the conflict of interest in Marsden’s article, Wales had acknowledged to a team of Wikipedia editors in February 2008 that he and Marsden “became friends … and that we would be meeting about that,” and stated “I recused myself from any further official action with respect to her biography.”

On Sunday, The Canadian Press reported that Marsden had posted photos of herself on Ebay, and was selling items that Wales had left at her New York City apartment. In her Ebay posting, Marsden stated: “Hi, my name is Rachel and my (now ex-) boyfriend, Wikipedia founder Jimmy Wales, just broke up with me via an announcement on Wikipedia … It was such a classy move that I was inspired to do something equally classy myself, so I’m selling a couple of items of clothing he left behind, here in my NYC apartment, on eBay. Jimbo was supposed to come visit me in a couple of weeks and pick up some of his stuff, but obviously that won’t be happening now.” Marsden told The Canadian Press “It didn’t really help matters that Jimmy chose to announce the breakup to the entire world via Wikipedia (which apparently now is an online encyclopedia that doubles as a personal soapbox?) rather than to me directly (which he did much later, in an instant message discussion).”

Marsden placed a t-shirt and sweater which she said were left at her apartment by Wales up on Ebay, and started the bidding for each at ninety-nine cents, with the auctions set to end on March 12. By Monday, bidding on the t-shirt had reached US$300, and by Tuesday the highest bid had reached $12,200. In an email to The Globe and Mail, Marsden stated “My only focus right now, to be really honest, is on my career and finding a way to get back into print, TV, or radio here in NYC,” she wrote. “All of this other personal stuff is just an unfortunate distraction.”

Jay Walsh, the Wikimedia Foundation’s head of communications, told the San Jose Mercury News that Wales’ actions in relaying Marsden’s concerns about her Wikipedia article to a team of trusted editors was within his “routine” role. When asked by the San Jose Mercury News if Wales’ actions regarding the Marsden article could compromise his role with the Wikimedia Foundation and Wikipedia, Walsh responded “No, absolutely not.”

On Tuesday, ABC News carried a story by Wired News reporter Megan McCarthy regarding allegations of “excessive spending” by Wales, and Associated Press also reported on questions involving Wikimedia Foundation expenses. McCarthy reported that former Wikimedia executive Danny Wool, who had left the foundation last year, criticized Wales’ use of Wikimedia Foundation expenses in a blog post. Wool stated that Wales had tried to expense $300 bottles of wine, a $1,300 dinner for four at a Florida steakhouse, and visits to Moscow massage parlors to the foundation, and that the foundation rescinded Wales’ corporate credit card in 2006. Wool also stated that Wales paid the foundation $7,000, after being short $30,000 on receipts for expenses.

Wool told EPICENTER that “There were occasions where he used [the Wikimedia Foundation] for personal advancement under the guide [sic] of the mission. And, as someone who was in there for the mission part of it, I found that rather distressful.” Wool commented in an interview with the San Francisco Chronicle: “Originally, it was carelessness … But as things developed, it became more apparent and obvious that he was taking advantage of the foundation credit card. It was almost like his personal piggy bank.”

In an instant message exchange with Associated Press, Wales denied that the Wikimedia Foundation had taken away his corporate credit card, and asserted that he had made the decision to stop expensing business travel for the foundation. Wales highlighted a statement by the foundation’s executive director Sue Gardner: “Jimmy has never used Wikimedia money to subsidize his personal expenditures. Indeed, he has consistently put the foundation’s interests ahead of his own.” In an email to Associated Press, Brad Patrick, a former attorney for the Wikimedia Foundation, stated “Danny seems interested in blogging his way straight to a lawsuit”.

Florence Devouard, who chairs the Wikimedia Foundation, told Associated Press that Wales had been “slow in submitting receipts,” and that the foundation had rejected Wales’ expense at the Florida steakhouse. Devouard told fellow foundation board members in a private email that she had convinced Associated Press that “the money story was a no story,” and told Wales “I find (it) tiring to see how you are constantly trying to rewrite the past. Get a grip!” Wales told Associated Press: “The board, the current executive director, the previous executive director, and independent auditors have reviewed our books and publicly agree that all of my expenses were appropriate and fully accounted for.”

Media reports speculated on how the controversy would end up being represented in Wikipedia itself. On Wednesday, the St. Petersburg Times wrote: “Wales’ Wikipedia page said only this about Marsden: ‘Wales had a brief relationship with Canadian journalist Rachel Marsden.'” An article in The Australian surmised: “History will decide whether Mr Wales broke his own principles, but before that happens there may well be a Wikipedia page devoted to the controversy.”

Sunday, March 23, 2008

Copies of The Profit, a 2001 film blocked from distribution in the United States due to a court injunction won by the Church of Scientology, appeared on the Internet Friday on peer-to-peer file-sharing websites and on the video sharing site YouTube.

Directed by former film executive Peter N. Alexander, the movie has been characterized by critics as a parody of Scientology and of its founder L. Ron Hubbard. Alexander was a Scientologist for twenty years, and left the organization in 1997. The film was funded by Bob Minton, a former critic of Scientology who later signed an agreement with the Church of Scientology and has attempted to stop distribution of the film. Alexander has stated that the movie is based on his research into cults, and when asked by the St. Petersburg Times about parallels to Scientology and L. Ron Hubbard said: “I’ll let you draw that conclusion … I say it’s entirely fictional.”

The film was released in August 2001, and was shown at a movie theatre in Clearwater, Florida and at a premiere at the Cannes Film Festival in France. A Scientology spokesman gave a statement at the time saying “the movie is fiction and has nothing to do with Scientology”. The Church of Scientology later took legal action in an attempt to stop further distribution of the film. The Church of Scientology claimed that the film was intended to influence the jury pool in the wrongful death case of Scientologist Lisa McPherson, who died under Scientology care in Clearwater, Florida.

In April 2002, a Pinellas County, Florida judge issued a court order enjoining The Profit from worldwide distribution for an indefinite period. According to the original court injunction received by Wikinews, the movie was originally banned because the court found that it could be seen as a parody of Scientology. In his April 20, 2002 ruling on the injunction, Judge Robert E. Beach of the Sixth Judicial Circuit Court in Pinellas County, Florida wrote: “…an average person viewing the film entitled The Profit could perceive that it is a parody of the Church of Scientology”.

“To the extent that any person considered as a potential juror in evaluating any issues involving the Church of Scientology, the process of voir dire provides a fair and complete remedy to eliminate any potential juror that may possibly have been influenced to be less than fair and impartial,” added Beach.

Luke Lirot, the attorney for the film’s production company, announced on the film’s website on April 7, 2007 that “We have absolutely no exposure for any repercussions from the court order,” but that the film was still blocked from distribution due to an ongoing legal battle. Lirot wrote: “all that’s stopping the release of the movie is the legal battle with the partner who was compromised by Scientology (Robert Minton) and is currently using his power as partner to stop the release of the film.”

In an October 2007 article, The Times described the film as “banned in the US because of a lawsuit taken out against it by The Church of Scientology,” and Russ Kick’s The Disinformation Book of Lists included the film in his “List of 16 Movies Banned in the U.S.”. An 8-minute teaser segment from The Profit appeared on the film’s website and on the video sharing site YouTube in February 2008, and an attorney representing Bob Minton sent a letter to Luke Lirot requesting that the film clip be taken down. In a response letter, Lirot wrote that “Rather than damage any asset of the LLC, the short clip merely keeps the film in the public eye, and in a positive way.”

On Friday, copies of the film began to circulate on peer-to-peer file-sharing websites and on YouTube. A link related to the film’s appearance on the Internet on the community-based link aggregator website Digg.com had 3,638 “Diggs” – and hit the front page of the site’s Entertainment section on Saturday.

On Saturday, Scientology critic and Emmy award-winning journalist Mark Bunker put a streaming version of the film on his website, www.xenutv.com, and encouraged others to watch and discuss the film on a real-time chat channel. In a video posting to YouTube Saturday, Bunker said “I did not do it. I had nothing to do with it … I had nothing to do with this release at all. But I’m happy it’s out there … people are finally having a chance to see it. A lot of people have been curious over the years and there’s been a lot of interest in seeing the film, so finally you can.”

On the newsgroup alt.religion.scientology, a poster by the username “Alexia Death” commented on the film’s appearance on the Internet in the context of censorship: “It is out! And so it is a WIN if many people review it even if they say it SUCKS! … Being bad is no cause to allow censorship … And being censored is no cause to assume its good”. A post to the blog Blogsreel commented: “We have all wanted to see this movie that scientology kept hidden away from us. We have all wondered just how damning could this story be that we were banned from watching it.”

In a post on Sunday to the message board attached to the official website for the film, attorney Luke Lirot asked that individuals stop distributing copies of The Profit over the Internet. Lirot wrote: “It has been brought to my attention that several unauthorized transmissions and downloads of this protected work have taken place over the last 72 hours. Such actions are copyright violations and are unlawful. I request that any further distribution and/or dissemination of this important work cease immediately and any copies of the work that have been downloaded please be deleted.” In his statement, Lirot recognized the rights of individuals under the First Amendment to the United States Constitution, but also said that unauthorized distribution of the film “will only serve to harm the goal of vast distribution”.

Blog postings have attributed the film’s appearance on the Internet as part of the anti-Scientology movement Project Chanology organized by the Internet-based group Anonymous, but this has not been confirmed. Wikinews previously reported on international protests against Scientology which took place as part of Project Chanology on February 10 and March 15. A third international protest by Anonymous is scheduled for April 12. Titled “Operation Reconnect”, the third international protest will focus on highlighting Scientology’s practice of disconnection.

Wednesday, February 6, 2008

David S. Touretzky, prominent free speech activist and critic of Scientology, discussed his opinions on the recent Internet backlash against the Church of Scientology in an interview with former Scientologist and Wikinews reporter Nicholas Turnbull. The recent conflict on the Internet between critics of Scientology and the Church has been spurred on in declarations by a nebulous Internet entity using the name Anonymous that the Church of Scientology “will be destroyed”. Anonymous has directed recent protests at Scientology centres across the world, which have attracted significant numbers of individuals supporting the cause. In recent e-mail correspondence with Wikinews, a representative of the Church of Scientology declared that the Church considers the activities of Anonymous to be illegal, and that Anonymous “will be handled and stopped”.

Touretzky, a research professor in artificial intelligence and computational neuroscience at Carnegie Mellon University, has been a prominent critic of the Church of Scientology since mid-1995, and has been protesting against Scientology vociferously since then; he has also run websites that publish material that Scientology wishes to keep suppressed from the public eye, such as extracts from Scientology’s formerly-confidential Operating Thetan (OT) materials. Touretzky views the actions of the Church of Scientology as being “a threat to free speech”, and has endured harassment by the Church of Scientology for his activities.

The Church of Scientology continues to suffer damage to its public reputation through increased exposure on the Internet and vocal protests by Scientology critics such as Prof. Touretzky. A recent event that focused intense attention on Scientology’s totalitarian attitude was the leak of an internal Church of Scientology propaganda video to the Internet video sharing site YouTube, in which celebrity Scientologist Tom Cruise spoke heavily in Scientology’s jargon and stated that that “we [Scientology] are the authorities” on resolving the difficulties of humanity. The declaration of war by Anonymous followed shortly after this leak, in the form of a video posted to the Internet.

The ongoing dispute, cast by some as Scientology versus the Internet, brought Scientology terms such as “SP” (Suppressive Person, an enemy of Scientology) and “KSW” (Keeping Scientology Working) into general usage by non-Scientologists from the late 1990s onwards; increased attention has been drawn to Scientology by the release of the Cruise video in addition to media coverage. This focus has caused an even greater propagation of these terms across the outside world, as Touretzky comments in the interview.

Wikinews asked Prof. Touretzky about the impact that the activities of Anonymous will have on Scientology, the public relations effect of the Tom Cruise video, the recent departure of individuals from the Church of Scientology’s executive management, the strategies that Anonymous will employ and Touretzky’s experiences of picketing the Church.

Thursday, October 25, 2007

Myanmar opposition leader, Aung San Suu Kyi has left her house arrest to meet with government officials.

Witnesses have observed a caravan of vehicles leaving the home of the 1992 Nobel Peace Prize recipient. Reports say that she is meeting with a liaison minister, U Aung Kyi, who was recently appointed by Senior General Than Shwe, the leader of Myanmar’s military junta.

The appointment of a liaison minister came after Special Envoy of the United Nations, Ibrahim Gambari, arrived in Myanmar on an urgent mission to press for mediation and reconciliation.

Yesterday, protests around the world yesterday marked the 12 years that Aung San Suu Kyi has spent in detention or house arrest. She was first arrested in 1989.

Friday, March 10, 2006

Buffalo, New York —The Common Council of Buffalo voted on Tuesday to send the Elmwood Village Hotel proposal “to committee for further discussion”, after citing the need for more public involvement.

The Elmwood Village Hotel is a development proposal by the Savarino Construction Services Corporation, a project designed by the architect Karl Frizlen of The Frizlen Group. The hotel would be placed on the southeast corner of Elmwood and Forest Avenues in Buffalo.

To make way for the project, at least five buildings located at 1109 to 1121 Elmwood Ave would be demolished. At least two properties on Forest Avenue could also be demolished. The Elmwood properties, according to Eva Hassett, Vice President of Savarion Construction, are “under contract”, but it is unclear if Savarino Construction actually owns the Elmwood properties. Hans Mobius, a former mayorial candidate, is still believed to be the current owner the properties. Mobius also owns 607 Forest Avenue.

The properties 605 and 607 Forest Avenue could also be included in the proposal according to Hassett.

“We would use a Special Development Plan to rezone 1119-1121 Elmwood and 605 Forest to a C-2 zoning category,” stated Hassett. It is possible that Savarino Construction may try to obtain a variance for 605 Forest, which would allow them to enforce eminent domain, should the hotel be allowed to go forward.

The building at 607 Forest was also discussed to be rezoned, but it is unclear what the plans would be for that property. During the February 28 Common Council meeting, Hassett stated that the properties 605 and 607 were “now off the agenda”.

Pano Georgiadis, owner of Pano’s Restaurant at 1081 Elmwood, owns the property at 605 Forest and attended Tuesday’s Common Council meeting.

“Having a hotel is a bright idea. We all love the idea of a hotel, but the way that it is presented, is wishful thinking. This hotel does not fit. It’s like putting two gallons of water in a gallon jug, it does not fit. At the last meeting, the architect admitted that they are planning to put the undergound parking lot and the hotel, right at the property line. If I open my window, I will be able to touch the wall, that goes fifty feet high”, said Georgiadis.

“There is a problem having a seventy-two room hotel and fifty-five parking spaces. That means that all the other cars will spill all over the neighborhood. The footprint is simply too small. If you have a bigger [parking] lot, and a smaller hotel, I will welcome a hotel. I have a parking lot at my own business, and I am chasing people all day long. Remember, the city says it has ‘zero tolerance [for illegal parking]’. Try telling that to the guy from Albany who came to see his kids, that are going to Buffalo State, who would get tickets totaling over a hundred dollars”, added Georgiadis.

The city’s Planning Board is scheduled to meet on March 14, 2006 at 9:00 a.m. about the proposal. Although a discussion will take place, no vote is expected to be taken.

At the moment, none of the properties are zoned for a hotel. Savarino Construction plans on asking for a C2 zoning permit. If that does not work, they plan to implement a new zoning plan called a “special development plan” which would allow for only a hotel on the site. That zone would not be able to be changed.

“This [project] justifies Mobius’s refusal to invest in any maitenance^[sic] or improvements”, on the properties said Clarence Carnahan, a local resident. “Where were the Council persons over the years? Where were the city inspectors over the years, to make sure that he maintained and improved his properties? The government was supposed to be protecting, not being preditorial. I see a predatorial issue here when it comes to this hotel. Over the years: Why has the local government been disfunctional when it came to Mobius’s properties? Refusal to invest in improvements, doesn’t that sound like a slumlord? Maybe I am missing a point here, but what kind of messages does this send to other slumlords that havn’t^[sic] been jailed or fined? It’s [the hotel] trying to be pushed through.”

Carnahan also presented signs for residents and or business owners who are opposed to the hotel, that could be placed in windows or on stakes in the yard. Some of the signs said, ‘No tell hotel’, ‘Hans off, no hotel’, ‘It takes more than a hotel to make a village’. and ‘Keep Elmwood free, no hotel’. Carnahan plans on making more signs for a protest to be held on Saturday March 18, at 2:00 p.m. (EST) on Elmwood and Forest. Some signs were given to individuals after the meeting.

“First things first, Hans is the problem, and I don’t think it has been addressed. Let’s roll back the clock on this project. What can we do with Hans? There is such thing as eminent domain, which could be of greater interest to the community, to seize the property at its lowest assessed value”, said Nancy Pollina, co-owner of Don Apparel with Patty Morris at 1119 Elmwood. “There are so many ideas that have not been explored and we are about to give this parcel away, to a big developer.”

Mobius has not returned any calls by Wikinews regarding the situation.

A freelance journalist writing for Wikinews has obtained a letter, exclusively, addressed to one of the five business owners from Hans Mobius stating:

There is a proposal to develop my property which you are currently renting. Because of opposition to this development, it does not look like it will happen. I will let you know if there any changes.

Despite the letter, there have been no plans or decisions made to end the proposal.

To date, none of the business owners or residents of 1119-1121 Elmwood have received an eviction notice.

Business owners and residents gave an indication of what they would like to see happen at the corner; a project similar to one done locally last year. There, developers renovated two buildings on Auburn and Elmwood Avenues, merging the buildings into one thus allowing for more shop space. Among some of the shops to move in after the development were Cone Five Pottery, The Ruby Slipper, and Abraham’s Jewelers. Prior to the renovation work, the left building in the picture was boarded up for several years. Many of the concerned locals would like to see a similar development on Forest and Elmwood.

Rocco Termini, a developer in Buffalo, proposed a similar design at the February 28 community meeting

In an interview after the February 28 meeting, Termini stated, “I will be willing to take a look at this myself, or I would be more than happy to be partners with Sam, Sam Savarino”, who is President and Chief Executive Officer of Savarino Construction Services Corp.

So far Savarino Construction has no plans to team up with Termini.

Sunday, December 27, 2009

U.S. authorities have charged Nigerian Umar Farouk Abdulmutallab with trying to blow up a plane on its descent into the city of Detroit, Michigan on Friday. The man, who comes from a prominent Nigerian family, was read the charges in a hospital Saturday, where he is being treated for burns.

The charges were read by United States District Judge Paul Borman while Abdulmutallab was being held at the University of Michigan Medical Center in Ann Arbor, Michigan.

Abdulmutallab was asked if he understood the charges against him, and he answered in English that he did. Witnesses reported he was in a wheelchair with a blanket over his lap.

The U.S. government accuses the Nigerian national of bringing an explosive device onto Friday’s Northwest Airlines Flight 253 plane from Amsterdam in the Netherlands. A preliminary analysis by federal authorities indicates he used a syringe to detonate a highly explosive substance, identified as PETN. Abdulmutallab said he got the explosives in Yemen from an Al Qaeda bomb maker who sewed the device into his underwear.

Passengers have told investigators the man went into the bathroom for 20 minutes before landing and complained about stomach problems before pulling a blanket on himself.

Just as the plane was getting ready to land, they heard a pop, smelled smoke and then saw the man on fire. A Dutch passenger, Jasper Schuringa, jumped on the Nigerian to subdue him, and a fire extinguisher was used to put out the fire.

The House Committee on Homeland Security chairman, Bennie Thompson, said it was a very close call. “We’re just fortunate nothing happened. This was a serious situation,” he said. Thompson said Congress will look into the matter soon. “As soon as we reconvene from the holiday recess, we will start looking into the circumstances around the Northwest flight incident.”

Nigeria’s acting ambassador to the United States, Babagana Wakil, immediately issued a statement, which he read to the Voice of America over the phone. “Expectedly, the embassy is already in contact with relevant U.S. authorities over the incident to facilitate any preliminary investigations to get to the bottom of this unfortunate development. Officers from the embassy have already flown to Michigan to gain consular access to the individual under investigation, and to offer the mission’s cooperation to federal and local authorities,” he said.

The suspect’s family members in Nigeria said they were shocked. The suspect’s father, an accountant and businessman, was previously a very well known banker in Africa’s most populous nation. Friends and family said Adbulmutallab had studied in Togo and London, and that he had recently made several trips to Yemen. His father had, apparently, made concerns with his son’s extremist connections known to the U.S. Embassy in Nigeria.

Adbulmutallab told the FBI he met with a radical Yemeni cleric he corresponded with online. The cleric is not believed to be Anwar al-Awlaki, an American-born Imam connected to Major Nidal Malik Hasan who carried out the Fort Hood shooting last month.

Friday, the White House said it believed it was an attempted act of terrorism. U.S. media reports say the suspect told interrogators he had affiliations with Al Qaeda.

The charges that were read against him Saturday carry a penalty of up to 20 years in prison.

Meanwhile, security screening measures have upgraded in the wake of the foiled attack, including only allowing one carry-on bag for international passengers, banning anyone from moving around the airplane during the last hour of the flight and additional “unpredictable” measures that will vary from airport to airport.