Federal Council sends expanded mail-in voting rights bill to Koramlo’s desk
10:17 AM | Tuesday, November 12, 2024 | Vretmir Times online
VRETMIR - The Federal Council passed the Expanded Voting Rights Bill on Tuesday morning, sending it to President Koramlo’s desk to be signed.
The bill passed largely along ideological lines, 51-25. All Conservatives, two Liberals, and four Social Democrats voted against the bill while 41 Social Democrats, all Socialists, and four Liberals voted for the bill.
President Koramlo indicated that he was in support of the bill in its early stages, and stated that he would sign the bill into law. With Koramlo’s signature, the bill would go into effect January 1, 2025 and all eligible voters will be able to vote by mail for the 2026 general election.
Police make arrests at Eastern Mining headquarters
4:17 PM | Tuesday, November 12, 2024 | Vretmir Times online
KALTAVINA - Police executed a surprise raid on Eastern Mining’s company headquarters in Kaltavina Tuesday morning. The arrests were part of a joint operation by Kaltavina municipal police, the Federal Police, and the Directorate-General for Taxation following years of legal disputes and allegations of tax evasion.
Eastern Mining, one of the largest mining companies in Volkia, saw its stock price drop nearly 20% after the company confirmed reports that authorities raided their headquarters with inspectors from the Directorate-General for Taxation. Current CEO Ajeko Vatar and CFO Marič Vranikojan were led out of the building in handcuffs.
The arrests come a year after the federal government won a major legal battle against the company, securing a Ӄ255 million consent decree for unpaid taxes and royalties following an audit by the Directorate-General for Taxation. Auditors discovered Eastern Mining had quietly skipped royalty payments and underreported its income from 2019 to 2023. Eastern Mining agreed to pay Ӄ255 million over the next two years on top of their regular tax and royalty payments. The company would also be required to submit quarterly royalty certifications signed by the CEO and CFO and provide a Ӄ50 million standby letter of credit.
According to court documents, federal investigators began compiling evidence just weeks after Eastern Mining skipped its first court-ordered payment in January 2024. Over the next nine months, agents documented at least 21 additional missed payments and obtained internal emails showing executives knowingly and willfully diverted funds earmarked for federal tax and royalty obligations. The federal grand jury returned its sealed indictment in October 2024, which was unsealed Tuesday following the arrests.
The Ministry of Justice and Attorney General said in a press release that the firm had defaulted on the deal, missing three quarterly installments and submitting “blatantly fictitious” sales figures that underreported Eastern Mining’s income by millions. Federal Attorney Lumin Sprackona told reporters that “corporations should know by now that we won’t let them rob the people of this country blind.”
Eastern Mining’s board of directors announced via press release that Vatar and Vranikojan had been terminated from their positions and appointed interim leadership, effectively immediately. The board stated that “[the Board] had zero knowledge of, nor did it authorize, any of the activities described in the indictment” and that “Eastern Mining will cooperate fully with the Ministry of Justice and Attorney General, the Department of Finance, and the Directorate-General for Taxation to ensure the Company is fully compliant with all federal laws and regulations.” Eastern Mining spokesperson Pavaka Aratgjorn told reporters that “we will be launching our own comprehensive internal investigation, as well as completing a full forensic audit of the company’s financials.”
Vatar and Vranikojan were arraigned hours after their arrests, at which point they pled not guilty. They were released on Ӄ3 million and Ӄ7 million respectively and ordered to surrender their passports. They were also ordered to not leave the province without permission and placed on electronic monitoring.
Vatar faces up to 15 years imprisonment for eight felony charges, including one count of conspiracy, two counts of wire fraud, one count of false statements, two counts of obstruction, and two counts of theft of government funds charges. Vranikojan is facing up to 35 years imprisonment for 18 felony charges, including one count of conspiracy, four counts of tax fraud, four counts of resource royalty fraud, four counts of wire fraud, two counts of false statements, two counts of obstruction, and one count of theft of government funds.