BREAKING: Orange County tech CEO’s $35 million mansion raided by the FBI as he is arrested for selling US technology to the Iranian military.
Jamshid Ghomi, a dual citizen of the United States and Iran, was charged with conspiracy to violate the International Emergency Economic Powers Act.
Ghomi has been accused of selling computer hardware to the Iranian military for use in military and nuclear programs.
Investigators say Ghomi created elaborate schemes to hide the millions of dollars he's made from these transactions.
Ghomi allegedly used his Tehrna-based computer networking company, Faraz Pardaz Rayaneh, to acquire US networking components for Iranian customers, which violates US sanctions.
Ghomi is also accused of allegedly making $10 million annually in sales from his firm and only reporting $20,000 maximun in income to the IRS.
Bill Essayli, LA’s top prosecutor, said, “Ghomi is accused of aiding our declared enemies by selling US-origin computer networking parts to Iran and earning millions of dollars in violation of US sanction laws… We will hold him accountable by seeking an appropriate prison sentence and by seizing his assets, including his $35 million Newport Beach mansion.”
Federal authorities are also investigating Ghomi for money laundering, tax evasion, and other crimes.
NEW: $45 million worth of cocaine seized after an underground tunnel between Mexico and San Diego, CA was discovered under a Buy 4 Less store.
Investigators say they surveilled the store for months after noticing how little customer foot traffic it had.
Authorities found a nearly 2000-foot-long tunnel that was 55 feet deep and 4.5 feet high with electricity and ventilation.
2270 pounds of coke was seized from the store, and four people were arrested.
Gregorio Epifanio Hernandez Lopez, 29, Jose Jimenez, 32, Antonio Cortez, 18, and Brandon Escalante Sandoval, 26, were arrested.
They all face a maximum penalty of life in prison and a $10 million fine.
"They thought they saw the light at the end of the tunnel. In fact, what they saw were our lights and sirens," said U.S. Attorney Adam Gordon.
BREAKING: Anthropic is set to close its latest funding round, which may top $30 billion, at a valuation above $900 billion, per Bloomberg.
Details include:
1. This would make Anthropic more valuable than OpenAI and the most valuable private company in the world
2. Sequoia, Dragoneer, Altimeter, and Greenoaks Capital are expected to co-lead the financing round, at $2 billion each
3. Anthropic has told investors that its annualized run rate revenue will surpass $50 billion by the end of next month
4. The funding round is expected to close by as soon as next week
We truly are in unprecedented times right now.
BREAKING: The 10 largest US stocks now account for a record 41% of the S&P 500's market cap.
This is 14 percentage points higher than at the 2000 Dot-Com Bubble peak.
This means ~41 cents of every Dollar invested in the S&P 500 flows directly into shares of just 10 firms.
~35 cents of every Dollar flows specifically into the Magnificent 7 group.
All while nearly 50 cents of every Dollar are now going into AI-linked stocks.
Mega-cap tech is all that matters right now.
If this is the end of the Pens Big 3, what a run it’s been.
— 3 Stanley Cups
— 3,924 games
— 3,974 points
— 1,365 goals
— 3 Conn Smythes
— 3 Harts
20 years together. The longest-tenured trio in North American pro sports.