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A former senior Drug Enforcement Administration (DEA) agent who once oversaw the agency’s financial operations has been indicted for conspiring to launder millions of dollars in narcotics proceeds for Mexico’s Jalisco New Generation Cartel (CJNG), according to federal prosecutors in Manhattan
Paul Campo, who served the DEA for 25 years and rose to become Deputy Chief of the Office of Financial Operations, is accused of laundering $750,000 in cartel cash by converting it into cryptocurrency and agreeing to launder an additional $12 million. Prosecutors say Campo also facilitated a payment for 220 kilograms of cocaine, valued at roughly $5 million, while boasting of his prior law enforcement expertise.
Campo, alongside co-defendant Robert Sensi, allegedly met with a confidential source posing as a CJNG operative in late 2024. The indictment details how the two men offered to channel cartel money through real estate investments, advised on fentanyl production, and even explored procuring military-grade weapons and drones for the cartel.
As alleged, Paul Campo and Robert Sensi conspired to assist CJNG, one of the most notorious Mexican cartels that is responsible for countless deaths through violence and drug trafficking in the United States and Mexico,” said U.S. Attorney Jay Clayton. “By participating in this scheme, Campo betrayed the mission he was entrusted with pursuing for his 25-year career with the DEA. CJNG is a violent and corrupting criminal enterprise that New Yorkers want broken.”
DEA Administrator Terrance C. Cole emphasized the gravity of the charges: “The indictment of former Special Agent Paul Campo sends a powerful message: those who betray the public trust—past or present—will be held to account to the fullest extent of the law. We will not look the other way simply because someone once wore this badge. There is no tolerance and no excuse for this kind of betrayal.”
Campo’s career included high-profile assignments in New York, Rome, and Milan, as well as leadership roles in DEA’s congressional affairs and financial operations. He represented the agency before Congress, the Treasury, and international organizations such as Interpol and the Financial Action Taskforce (FATF).
Now, prosecutors say, the same expertise he once used to combat money laundering was turned toward aiding one of the world’s most violent cartels. Campo faces charges of narco-terrorism conspiracy, conspiracy to distribute narcotics, conspiracy to provide material support to a terrorist organization, and conspiracy to commit money laundering
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United States President Donald Trump has pledged there will be no tolls for passage through the Strait of Hormuz, unless they are collected by his own country.
Trump’s statement, made in a Saturday afternoon post on Truth Social, is the latest sign that a recently signed memorandum of understanding (MOU) may be unravelling.
There will be NO TOLLS in the Hormuz Strait for 60 days during the Cease Fire Period, and there will be NO TOLLS after the 60 day period has expired,” Trump wrote, “unless they are imposed by and for the United States of America.”
Since the US and Israel launched a war against Iran on February 28, Iran has successfully used the Strait of Hormuz as a pressure point, closing the strategic waterway to traffic.
But under the terms of Wednesday’s ceasefire memorandum, the strait is supposed to reopen for an interim period of 60 days. During that time, Iran is barred from charging vessels for passage.
Iranian officials have also said that any upcoming talks should focus on proper implementation of the initial memorandum, and that the 60-day negotiating period stipulated in Wednesday’s deal would begin after that was settled.
Pakistan, a top mediator between the US and Iran, has said that follow-up talks are set to begin in Switzerland on Sunday
Switzerland’s Federal Department of Foreign Affairs has confirmed that an Iranian delegation, led by parliamentary Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi, has already arrived for the negotiations.
On the US side, Trump’s son-in-law Jared Kushner, special envoy Steve Witkoff and Vice President JD Vance are expected to attend
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Sandisk stock price continued its bull run this week, reaching its all-time high amid the ongoing AI boom. SNDK has already jumped by over 600% this year and by over 4,000% in the last 12 months. While this rally may continue, there are substantial risks that it will suffer a strong reversal over time.
The main reason why the SNDK stock price has surged this year is that the AI boom continues to accelerate this year. We have already seen some top AI companies like Dell and Marvell Technology go parabolic in the past few days after publishing strong earnings.
The same surge is also being seen across other assets. For example, the Roundhill Memory ETF (DRAM) has gained over $15 billion assets since its launch in April this year. It has become the fastest growing ETFs on record.
The ongoing AI traction has led to a substantial demand for its memory products, especially in the data center industry. This explains why other similar companies like Kioxia and SK Hynix have all jumped to their record highs.
The most recent numbers showed that the company continued growing in the third quarter. It made over $5.9 billion in revenue in the third quarter, up by 97% QoQ and by 251% YoY. This makes it one of the fastest growing companies in Wall Street.
Investors believe that the company has more room for growth. The average estimate among analysts is that its revenue will jump by 165% this year to $20 billion. It will then make over $42 billion next year and $55 billion a year later.
Sandisk is a high margin company, with its net profit margin being 35%. This margin will likely continue to grow as long as memory device prices continue rising. As such, if it hits an annual revenue of $50 billion, its net profit margin will be $17.5 billion.
There are signs that the company is not all that overvalued despite the ongoing surge. It has a forward price-to-earnings ratio of 26, slightly higher than the S&P 500 Index’s average of 21.
Sandisk stock faces some major risks. The first one is that there is a risk that the industry will move from a supply shortage to a surplus in the coming years. This is possible because the industry is nether a monopoly nor a duopoly. Instead, it has many large players like Samsung, SK Hynix, Micron, Kioxiaand Western Digital. These firms will ultimately seek to boost their output to benefit from the soaing prices, a move that will lead to a reversal.
The other risk is that top AI companies are going public this year. This includes companies like OpenAI, SpaceX, and Anthropic. AI stocks will likely jump ahead of the IPOs, and then drop after it happens as investors sell the news.
Technicals also pose some major risks. For one, the SNDK stock price has become highly overbought, with the Relative Strength Index (RSI) and the Stochastic Oscillator moving to their extreme levels.
Sandisk stock also remains above all moving averages, a sign that it may go through a mean reversion soon. These technicals suggest that, while the Sandisk stock rally may continue, there is a risk that it will ultimately plunge.
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The New York Knicks, fuelled by a sensational 45 points from Jalen Brunson, rallied again to beat the San Antonio Spurs 94-90 and win their first NBA title in 53 years on Saturday.
The Knicks won the best-of-seven championship series 4-1, denying Victor Wembanyama and his young Spurs teammates on their home floor to lift the trophy for the first time since 1973.
The Knicks, who recovered from 29 points down in game four to produce the biggest comeback in Finals history, erased a double-digit deficit to win for the fourth time in the series.
The Knicks trailed by 16 in the second quarter and were down by 10 early in the fourth, but Brunson wouldn’t let them lose.
“I’ve got no words,” Brunson said after setting a Knicks record for points in a Finals game, surpassing Willis Reed’s 38 in game three of the team’s 1970 triumph over the Los Angeles Lakers.
With their backs against the wall, the Spurs were locked in defensively from the opening tip-off.
Wembanyama set the tone, blocking three shots in the first quarter as the Spurs powered to a 23-13 lead, holding the Knicks to their fewest points in any quarter this postseason.
Wembanyama tied a Finals record with five blocks in the first half and drilled a three-pointer that pushed the Spurs’ lead to 16 early in the second period
But the Knicks were heating up, cutting the deficit to three before Devin Vassell’s fadeaway basket at the buzzer sent the Spurs into the interval with a 42-37 lead
San Antonio quickly rebuilt a double-digit lead, but Brunson and the gritty Knicks wouldn’t let them get away
“We weren’t ready to win an NBA championship,” Spurs coach Mitch Johnson said. “The better team won.
We did a lot of good things, and we didn’t finish the job. That’s what it is
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