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Former mayoral candidate in this Broward city sentenced in PPP fraud case
Rudy Theophin, 41, admitted in federal court to submitting a false application for a Paycheck Protection Program (PPP) loan in July 2020. Prosecutors said he claimed his business employed eight people and had an annual payroll of more than $583,000. In reality, the company did not exist, and the tax documents supporting the loan were fabricated.
Theophin received $123,675 through the PPP program, which was intended to help struggling small businesses during the pandemic. He used part of the funds to purchase a $255,000 condominium in Miramar. That property is now subject to federal forfeiture as part of a money judgment.
Prosecutors argued for a prison sentence, citing the misuse of public funds at a time of national crisis. But U.S. District Judge Rodney Smith opted for probation, noting Theophin's lack of criminal history and longstanding community service.
Several people submitted letters in support of Theophin, including David Burney, chairman of the Greater North Miami Chamber of Commerce.
'Rudy has been an unwavering advocate for young people — particularly high school students from under-resourced and under-served backgrounds,' Burney wrote. 'In his role as a mentor within our Chamber programs, he devoted countless hours to helping youth navigate their personal and academic challenges.'
The court ordered Theophin to repay the full $123,675. If he fails to do so, the federal government may seize and sell the condo purchased with the loan proceeds.
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Yahoo
an hour ago
- Yahoo
MakeMyTrip Moves Closer to ‘Travel Superapp' Vision with Experiences Launch
On Thursday, MakeMyTrip announced it has launched a platform for booking international tours and experiences giving Indian travelers access to over 200,000 activities in 130 countries. Last year, Co-Founder and Group CEO Rajesh Magow had told Skift that the online travel agency would be bringing back experiences. MakeMyTrip had a similar product for attractions before the pandemic. The company shelved it during Covid. Experiences are a big part of travel spending. Magow noted in a release on Thursday, 'Experiences account for a significant share of spending when Indians travel overseas, yet discovering and booking them remains one of the most fragmented aspects of the journey.' The move is a piece of a much larger plan the company has been working on for years: to become a one-stop platform for every part of the trip and and keep more of the traveler's journey within its ecosystem. Since the pandemic, the company has expanded into several new areas — forex, car rentals, business travel tools, and even travel insurance. What This Has to Do with the 'Connected Trip' In the past year Magow has also been talking a lot about what he calls a 'connected trip.' It's a simple idea: travelers shouldn't have to piece together a trip from a dozen different sources. Flights, hotels, airport rides, insurance, and now experiences, should all be available on one platform. And more importantly, should 'talk to each other.' But that's easier said than done. Magow admitted it's a tough problem. 'The execution aspect of that is a nightmare,' he told Skift earlier. Even if all the options are available, it's hard to make sure they all work together smoothly and feel like one continuous experience. The experiences platform ties directly into this bigger plan. Now, travelers can plan and book their entire trip within the MakeMyTrip app. Everything, including these new tours and attractions, is stored under the 'MyTrips' section. What The Platform Offers The platform offers everything from must-see tourist spots to more unique experiences. Think: Disneyland in Paris, helicopter ride over Hawaii's Kauai Island, a walk through Tokyo's Asakusa district with a sumo demonstration. The service will be supported by a 24/7 travel assistance desk, and everything can be booked in Indian Rupees, MakeMyTrip said in a statement. Right now, the focus is mostly on experiences outside India. Magow had earlier told Skift that these experiences are currently more focused on foreign destinations, as the offerings for domestic destinations are 'still developing.' The Bigger Plan: Becoming a Travel Superapp MakeMyTrip isn't trying to become a superapp in the way other apps have tried to be everything for everyone. Their focus remains squarely on travel. But within that, the company wants to offer everything. Speaking at the Skift India Forum earlier this year, Magow had said the company is also looking to have cruises come on the platform. A market he called 'interesting,' but 'the awareness around it isn't very high.' From cruises to experiences and car rentals, the company is pushing into new areas while trying to keep the booking experience simple. The strategy is about giving users more reasons to keep coming back. As Magow put it, travelers may not book everything in one go, but if the platform can follow them through the whole planning process and offer helpful tools at each step, it can earn more over time. Challenges Ahead There's no shortage of ambition. But ambition alone doesn't solve the core problems: technical complexity, supply-side issues, and shifting consumer behavior. Integrating everything under one platform while keeping the user experience smooth is a tough job. And Magow is well aware of it. 'If the customer experience in one of the icons is broken, then it won't work,' he had told Skift, referring to the different services within the app. On top of that, entering new areas means building strong supply chains and partnerships. 'When you get into a new service, you have to have a benchmark,' Magow said, 'but how do I get to that position in an accelerated fashion? That's a challenge.' Why It May Work Anyway India's travel market is changing fast. Travelers are taking more trips, spending more on experiences, and increasingly planning online. According to internal data MakeMyTrip shared, frequent users are now booking more trips each year than they used to. With incomes rising and middle-class demand growing, there's a clear opportunity. The big question is whether MakeMyTrip can move fast enough, and stay reliable enough, to catch and hold on to that opportunity. MakeMyTrip Co-founder and Group CEO at Skift India Forum Get breaking travel news and exclusive hotel, airline, and tourism research and insights at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Politico
2 hours ago
- Politico
Mamdani looks to the mainstream
Presented by Resorts World New York City With help from Amira McKee Zohran Mamdani is staffing up his communications team for the general election, and is pulling from folks with decidedly mainstream Democratic pedigrees — alums of Hakeem Jeffries' super PAC, Kamala 2024, the DNC and Hillary 2016. It's a notable choice as the Democratic nominee for mayor of New York City tries to stay on the right path from the People's Republic of Astoria to Gracie Mansion. And tries to win over fellow Democrats like Jeffries, who's still withholding an endorsement while denying reports that he's worried Mamdani's win will keep Democrats from taking back the House. First in Playbook: Former Brad Lander campaign comms director Dora Pekec has joined Mamdani's campaign as press secretary. Before Lander, she was spokesperson for House Majority PAC, House Democrats' campaign arm, which is closely aligned with Jeffries. Zara Rahim is staying on as Mamdani's senior advisor for communications. She's worked in corporate comms for Uber, Nike and other clients, and was on Barack Obama's 2012 reelection campaign and also served in the White House. The right wing Washington Free Beacon spotlighted Rahim this month for tweeting that she hoped Donald Trump would die, after his 2020 COVID diagnosis. Jeffrey Lerner joined the campaign earlier this month as communications director, The New York Times first reported. He's also an Obama White House veteran, and joined the Democratic National Committee for his reelection. And Penelope Birnbaum, who was a press assistant on Kamala Harris' presidential campaign, is joining Mamdani as a press and digital assistant. The newer hires show a shift from Mamdani's previous team. Comms director Andrew Epstein had been chief of staff to fellow democratic socialist Assemblymember Emily Gallagher, and his deputy Lekha Sunder came from New Deal Strategies, a left-leaning firm with clients like the Working Families Party. Sunder's staying in her campaign role, while Epstein is now creative director, managing Mamdani's lauded video team. More staffing changes are coming too, including a new campaign manager. POLITICO reported earlier this month that his CM in the primary, Elle Bisgaard-Church, is taking a new role more focused on the transition to governing. Mamdani has shown a real desire to win over his skeptics who have power, talking with big business leaders and breaking bread with Jeffries, rather than boxing them out. His staunchest DSA allies — many of whom would prefer to give Jeffries the middle finger, Christopher Columbus style — are having to deal with it, The New York Times reported. But the criticism (at least publicly) has been muted, with lefties willing to cede a little power in Mamdani's campaign for the goal of having real 'co-governance' in City Hall, City & State reported. 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Want to know how health care regulation, tariffs, or court rulings could ripple through the economy? Start here. WHERE'S KATHY? Joining 97 Rock's 'The Shredd & Ragan Show' at 8 a.m. Attending Buffalo Bills training camp at St. John Fisher University in Rochester. WHERE'S ERIC? Schedule not available as of 10 p.m. Wednesday. QUOTE OF THE DAY: 'Did you ever see that show 'The Good Place?' This reminds me of something that the demon tried to torture people with. Give them something terrible, let them figure it out, and then change it.' — An anonymous ICE agent in Manhattan talking about new federal directives, via Hell Gate's report on the banality of arresting immigrants outside court rooms. ABOVE THE FOLD MAGA-FICATION: New York Republicans are poised to nominate a MAGA-aligned candidate for governor next year — a dynamic that underscores President Donald Trump's dominance over the GOP even in a deep blue state, POLITICO reports. Moderate Rep. Mike Lawler's decision to forgo a gubernatorial campaign opens the door wide for either Rep. Elise Stefanik or Nassau County Executive Bruce Blakeman — two Trump allies — to seek the GOP nomination. It's a turnaround from 2018, when Republican nominee Marc Molinaro — who is now a Trump administration official — told reporters he wrote in former Rep. Chris Gibson in the 2016 presidential race. Democrats are eager for the chance to once again leverage Trump as a foil in his native state, which he has lost three times. Republicans, though, believe the circumstances stand to be different next year in New York, where Democrats have dominated elections for a generation. They point to Hochul's middling poll numbers, persistent voter concerns over crime and affordability, and the prospect of democratic socialist Zohran Mamdani leading New York City as reasons for optimism. In short: Trump's seal of approval next year may not be a kiss of death. 'I don't see a situation where he's driving the same kind of turnout in previous gubernatorial elections because of his popularity with independents,' said Republican strategist Dave Catalfamo. 'The media will focus on the fact that Elise is aligned with the president, but the voters are more aligned with the president than ever.' Defeating Hochul is still considered an uphill climb in a state where Democrats outnumber Republicans 2-to-1. Hochul reported more than $17 million cash on hand this month for her reelection bid. Next year stands to be a referendum on the White House and the Republican-led Congress. Nevertheless, Trump has shaped the race for governor. The president endorsed Lawler's reelection bid to his swing Hudson Valley House seat — a nod that boosted Republicans' chances of avoiding a potentially costly primary. — Nick Reisman CITY HALL: THE LATEST NATIONAL ATTENTION: A Florida-based Trump super fan filed a new federal super PAC Tuesday named Emergency Committee To Save NYC. Palm Beach polo player Robert Scott Kiger formed another super PAC in 2015 to boost Trump's first campaign, and earned some headlines for his criticism of the Black Lives Matter movement. It's not clear what Kiger plans to do with the new PAC, although presumably he's not a big Mamdani fan, and he didn't respond to a request for comment. At least six other independent expenditure committees have been created at the state level to focus on the general election. That includes Defend NYC, formed by Trump campaign adviser Jason Meister. He told Playbook his will be 'a razor-sharp digital war room' which 'will expose Mamdani's dangerous stances' through 'an unrelenting onslaught of viral videos, precision-targeted digital ads, and influencer-driven attacks will dominate the electorate.' — Jeff Coltin UNBERET-ABLE: GOP mayoral nominee Curtis Sliwa is testing out a more business-like look, donning a suit and tie without his signature red beret at a meeting with Steamfitters Local 638 Thursday, per a photo posted on X. 'Polling well. Feeling well,' Sliwa campaign spokesperson Daniel Kurzyna said about the change in style. Sliwa sat in third place behind Mamdani and Andrew Cuomo in a July Slingshot Poll. — Jeff Coltin HOUSING FACT CHECK: No, Adams did not 'build more housing' than his predecessors Bill de Blasio and Mike Bloomberg combined, like he claimed on a recent podcast. But his rezonings are expected to create more units than both of theirs. 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Wade,' the lawmakers, who comprise a caucus of pro-abortion rights elected officials, wrote in the letter. 'We cannot allow federal anti-abortion lawmakers to force us backwards, when we have worked so hard to be a beacon of hope – an access state for all.' The concern is the latest to arise from the federal spending package that state officials must grapple with in the coming weeks. POLITICO Pro previously reported New York's abortion access fund is struggling to keep up with demand as more people from outside of the state seek financial assistance and the procedure's cost increases. — Nick Reisman More from Albany: — Hochul is being urged to support more funding for child care vouchers. (Spectrum News) — Regulators are cracking down on a troubled solar energy company. (NYS Focus) — Striking corrections officers held in contempt are now facing state fines. (Spectrum News) KEEPING UP WITH THE DELEGATION 'IT'S ALL CONNECTED': It feels like Democrats in Washington have been all about Jeffrey Epstein all the time, running circles around Republicans, as POLITICO reported, by sticking their fingers in the wound of the MAGA conspiracy theory. But what about Democratic leaders' pledge to keep the pressure on Republicans over GOP cuts to Medicaid and food assistance as the midterms near? And their resolve to refocus on economic issues that they believe cost them a chance to win back control of the House in 2024? It's one and the same, House Minority Leader Hakeem Jeffries told reporters Wednesday. 'The reality is that it's all connected,' the Brooklyn Democrat said. 'From the standpoint of Donald Trump, his administration and House Republicans have delivered nothing more than a government of the billionaires, by the billionaires and for the billionaires. … Why haven't Republicans released the Epstein files to the American people? It's reasonable to conclude that Republicans are continuing to protect the lifestyles of the rich and shameless — even if that includes pedophiles.' House Democrats were gleefully preparing to force more Epstein-related votes, as the Republicans controlling the chamber ready for an August recess and break from tackling Trump's ties to the disgraced financier and sex offender. Trump has been 'furious' over the attention on the Epstein saga, POLITICO reported. — Emily Ngo BACK THE TAX: Health care lobbyists want Republican members of Congress to help them advocate for a grace period for a lucrative new state tax, which was rendered unlawful by the One Big Beautiful Bill Act, POLITICO Pro reports today. If Health and Human Services Secretary Robert F. Kennedy Jr. signs off, New York could get up to three years to phase out the tax, which could net health care institutions a total of $3.7 billion in Medicaid funding. Rep. Mike Lawler already made the case in a letter to Kennedy and Center for Medicare and Medicaid Services Administrator Mehmet Oz. 'Providing the full transition period as allowed under the One Big Beautiful Bill Act would represent a fair and practical approach, giving states, hospitals, and nursing homes the necessary time to adapt without compromising the long-term intent of the policy,' Lawler wrote in the July 10 letter. HHS spokesperson Andrew Nixon declined to comment on Kennedy's stance. — Maya Kaufman More from Congress: — Senate Minority Leader Chuck Schumer doesn't want to become his party's bogeyman again as Democrats take on Trump with a fall funding deadline looming. (CNN) — The foot-dragging by congressional Dems hesitant to endorse Mamdani could alienate the young voters the party will need to take back Congress and the White House. (NY1) — A memo finds state Democrats are urging the party to flip state legislatures — or pay the price in 2030 redistricting. (POLITICO) NEW YORK STATE OF MIND — Columbia University says it has reached a settlement with the Trump administration to end federal investigations into civil rights violations stemming from divisive protests. (POLITICO) — Canadian border crossings are down drastically compared to 2024. (Spectrum News) — Equinor booked a nearly $1 billion writedown on its U.S. offshore wind portfolio after the Trump administration halted construction of its offshore wind project off New York. (POLITICO Pro) SOCIAL DATA MAKING MOVES: Former U.S. Attorney for the Southern District of New York Danielle Sassoon has joined the Manhattan Institute as a senior fellow. (City & State) HAPPY BIRTHDAY: NYC Council Members Tiffany Cabán and Rita Joseph … Cuomo campaign spox Jason Elan … Apex's Barbara Morgan … Threshold Group's Andy McIndoo … NYT's Zolan Kanno-Youngs … WSJ's Kim Strassel … Erica Pelletreau … CNBC's Eamon Javers … The Sentry's Greg Hittelman … Matt Joseloff … Sarah Citrenbaum ... Magee Quick McBride … (WAS WEDNESDAY): Mariane Pearl Missed Wednesday's New York Playbook PM? We forgive you. Read it here.
Newsweek
2 hours ago
- Newsweek
Number of Home Sales Falling Through Hits Record Level
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. The number of pending home sales that fell through hit record-levels for the month of June in 2025, as surging inventory and economic uncertainty continues to plague sellers. According to analysis by real estate firm and brokerage Redfin, over 57,000 home-sale agreements across the U.S. were cancelled in June, equating to around 15 percent of houses that were under contract in the month. This is up from 14 percent a year ago, and marks the highest cancellation rate for any June on record. Why It Matters Redfin said in its analysis that record levels of home sales falling through serves as a reflection of persistent economic unease among buyers, as well as the issues of affordability, inflation and high mortgage rates that may be weighing on their minds. The increased fiscal risks associated with homeownership have also contributed to rising levels of inventory, reducing sellers' leverage and putting power over the housing market more firmly in the hands of prospective buyers. What To Know Real estate agents who spoke to Redfin said buyers are becoming reluctant to finalize purchases due to economic uncertainties, in particular high mortgage rates, the potential impacts of tariffs, inflation and the possibility of a recession in the near future. Others noted that surging levels of inventory have put power in the hands of buyers, leading many to cancel deals when another home within their price range is listed. According to June Housing Market Trends Report, the number of homes for sale in the U.S. rose nearly 30 percent year-over-year, marking the 20th consecutive month of increases. The latest market report from Zillow, and recent data from the St. Louis Fed, similarly showed that housing inventory has risen to post-Covid highs. Analysis from Redfin in May said that high levels of inventory, coupled with subdued demand, had led to a buyer surplus of nearly 500,000. It said that this marks the largest gap between buyers and sellers since 2013. A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. Patrick T. Fallon/AFP via Getty Images Despite buyers having greater choice, high prices, mortgage rates, and economic uncertainties have continued to sideline buyers and weigh on home sales in 2025. According to data released Wednesday by the National Association of Realtors, existing home sales fell by 2.7 percent in June to a nine-month low of 3.9 million. Median home prices also rose to $435,300, marking a record high for June and the 24th consecutive month of year-over-year increases. Prior to the release, President Trump on Tuesday blamed persistently weak home sales on Federal Reserve Chair Jerome Powell, and the central bank's reluctance to lower interest rates, which would likely contribute to mortgage rates declining. "People aren't able to buy a house because this guy is a numbskull," Trump told reporters in the Oval Office. "He keeps the rates too high." What People Are Saying Crystal Zschirnt, a Redfin Premier agent in Dallas, said: "Buyers have leverage. Some buyers are canceling deals because another home pops up in the same price range that they like better, or because they discover a flaw and get nervous it'll cost too much to fix. I've also heard of some buyers backing out because they're hoping home prices or mortgage rates are going to plummet soon, even though that's unlikely." Nancy Vanden Houten, Lead Economist at Oxford Economics, in comments shared with Newsweek on June's home sales data: "Existing home sales were weaker than expected in June, but we don't think the decline marks the start of a sustained downturn in sales. We look for sales to move sideways over the balance of 2025, before recovering in 2026 as rate cuts by the Federal Reserve get underway in earnest." "Increases in supply should temper home price growth and support sales. Median home prices rose to a record high in June, but the increase was at least partly due to seasonal quirks and we think price growth will trend lower in the second half of this year," she added. What Happens Next? According to Redfin's forecasts, home prices are expected to decline one percent by the end of the year compared to 2024. Despite hopes of mortgage rates soon dropping to six percent, which analysts believe could inject much-needed momentum into U.S. home sales, it anticipates these remaining effectively unchanged at around 6.8 percent.
