Latest news with #LPN
Mid East Info
3 days ago
- Business
- Mid East Info
Personal sanctions against ICU: why Europe and Ukraine might make such a decision
By Sergey Lyamets, Ukrainian journalist The well-known Ukrainian financial group ICU disguises its interests through offshore companies and affiliated structures and interferes in international restructurings. The secretary of the new NSDC (National Security and Defence Council of Ukraine), Rustam Umerov, may want to have a quick victory. Then he might find this information interesting. Ties with Russian business have become a ready-made recipe for the effective introduction of sanctions. The harsh reality is that the NSDC may target Ukraine's largest government bond trader, Investment Capital Ukraine (ICU). I wrote about the hidden reason why sanctions may have been imposed on Petro Poroshenko. The reason for this is the unethical behaviour of ICU towards the holders of the so-called LPNs. Even before the invasion, Alfa-Bank's VIP depositors were offered a special investment product – Loan Participation Notes (LPN) issued by the Dutch company EMIS Finance B.V. These are high-yield bonds: Alfa-Bank returned the funds raised to Ukraine and used them to issue new loans and then shared the profits with its VIP clients. The deal was mutually beneficial, and Alfa Club became the most powerful VIP banking system in Ukraine. But with the outbreak of a full-scale war, the bank was nationalised, and the money of Ukrainian depositors was 'suspended'. The former owners of Alfa agreed to return the money but asked to wait. They proposed a restructuring scheme for LPNs that has already been used by influential Ukrainian families. Most of the LPN issues have already been restructured. Now they just have to wait for their money. But there are just a few tranches left, the control of which was once bought up by the ICU group. The holders, who no longer believed in getting their money back, sold their LPNs to the group at a large discount. ICU now owns these securities and has blocked the restructuring. Obviously, they expect special benefits. I doubt that they will succeed – the weight categories are slightly different. But they certainly managed to take other tranche participants hostage. Why is Poroshenko involved [Poroshenko involved] here? Because ICU is still associated with 'The Grey-Haired'. According to my information, this could have been the real motivation for the NSDC's sanctions against the former president. Undoubtedly, there were other reasons. But you'll agree that everything coincided in time. A new episode in this case has recently emerged. ICU decided to finally take control of the other LPN holders. So far, in 'its own' tranches, but it is possible that it will want to expand its success. At first glance, the details are purely technical. ICU has initiated the procedure of changing the trustee and paying agent from BNY Mellon to GLAS (Global Loan Agency Services Ltd). BNY Mellon is a world-renowned financial group with an impeccable reputation. GLAS, on the other hand, specialises in distressed and disputed assets and often acts in the interests of the client rather than the market. The vote for the GLAS appointment will take place at the end of July, and ICU is currently collecting votes in support. Given that they already have a majority of LPNs, the 'choice' is a formality. In fact, they will vote for themselves. This means that the restructuring will fail, and the LPN debts will finally 'hang'. The stakes have gone up. If previously ICU held to ransom its allies in a tranche, now it will take full control of them. Perhaps this will affect other LPN holders. The replacement of the trustee looks like a preparation for a forceful takeover of the restructuring process, in order to dictate terms to the rest [of the holders]. If BNY Mellon is replaced by GLAS, the question will be posed as follows: influential Ukrainian families will only receive their money if ICU receives its own – and on its own terms. Perhaps the group's goal is to buy out other LPNs at a discount. In fact, the group has done this more than once. Their business model is to buy out debts cheaply (20-30%) and then to get their repayment at 100% of the face value. To pull off such an operation, you first need to create an artificial crisis and show that the money will not be returned at all. And then, you 'solve the problem'. At first glance, the conflict over the restructuring of EMIS Finance B.V. bonds seems to be a routine dispute over debts. According to my sources, the LPNs of the former owners of Alfa-Bank are held by influential families in Ukraine and some large companies. Arm-twisting is likely to cause them to react strongly against it. ICU's aggressive actions may well backfire on it, even in the form of harsh sanctions from the EU and Ukraine. In Ukraine, ICU is known as a well-known seller of government bonds, but its real activities are behind the scenes. It concerns the servicing of the funds of two former presidents (Yanukovych and Poroshenko) and close cooperation with Russian business. I wrote here about cooperation with Poroshenko. Let's talk a little bit about ICU's cooperation with Russian business. It is not about innocent purchases of real estate in Crimea, although the NSDC is willing to impose sanctions even for that. We are talking about cooperation with VTB, one of the three largest state-owned banks in Russia. Until 2014, 22.7% of ICU was owned by the wife of VTB's former First Deputy Chairman of the Board, Yuri Solovyov. The OCCRP investigation showed that 22.74% of ICU Holdings Ltd. (BVI) was owned by Cordova Management Ltd., which was controlled by 'Ulyutina G.O.' from Moscow. The initials and surname allude to Galina Olegovna Ulyutina, the wife of Yuri Solovyov. Valeria Gontareva and Solovyov himself were friends. Ulyutina withdrew from ICU's list of shareholders in August 2014. As you know, Gontareva also withdrew from ICU. But contacts were not severed. Already in the Poroshenko era, ICU was actively working with RCB Bank (Cyprus, formerly VTB) through its structures. Of course, to find the evidence, one has to dig through the financial statements. It will be necessary to investigate the controlled entities in the UK and Cayman Islands, the use of GLAS and proxy votes (in particular, through FPP, which will be discussed below). The National Security and Defence Council will probably be interested in studying the cooperation of ICU with Cleary Gottlieb lawyers (who are putting pressure on Ukraine in the case of Yaresko's warrants). The search promises to be fruitful. For example, let's take the British structure FPP Asset Management LLP, which is controlled by ICU, or their actions are closely synchronised. Former ICU managers worked for this company. In FPP's 2018-2019 financial statements, ICU Holdings Ltd. was directly listed as the majority shareholder (>50%). Subsequently, the chain of ownership was concealed through the Cayman-based FPP Global Holdings Ltd. This allowed ICU to get out of the disclosure procedure. However, according to financial market participants, ICU co-owner Makar Paseniuk has repeatedly admitted this: 'FPP is us'. Why is FPP important? Because the company was involved in the EMIS debt restructuring process. It was through this structure that ICU held positions in EMIS bonds and voted against the restructuring. The company posed as an independent holder, although it was the good old ICU. The aim was probably to create the appearance that it was not ICU that was opposed to the restructuring, but an allegedly 'opposition' group of LPN holders. But before that, FPP played a different role. Presumably, through FPP, ICU implemented joint projects with VTB, including the SPAC Emerging Markets Horizon Corp. A SPAC is a shell fund in which everyone can contribute money to invest in promising companies. Emerging Markets Horizon Corp was raising $250 million via Nasdaq to buy assets in Eastern Europe (possibly also in Ukraine). It was jointly managed by representatives of VTB Capital and FPP. The fund failed to raise funds and was liquidated in 2023. Perhaps because of the war. FPP's client structure also included the Cyprus-based Justy Five Fund with assets of up to €100 million, which is backed by Kirill Zimarin, former CEO of RCB Bank (ex-Russian Commercial Bank, which belonged to VTB Group). Zimarin is now the owner of Finstella, which has no formal ties to VTB. But it is quite possible that the connection with Russian business has been preserved. Why is ICU here? According to my sources, the company was previously financed through RCB Bank for hundreds of millions of dollars, including through the BVI CIS Opportunities Fund. This fund should be checked for servicing the accounts of VTB's management (including Andrey Kostin, Yuri Solovyov, Herbert Moos and Natalia Solozhentseva). A separate question is whether the fund's money was invested in ICU products. For example, there is a well-known line of cooperation: the Russian Burger King Russia restaurant chain was jointly controlled by the CIS [Opportunities Fund] (through Xomeric Holdings Ltd) and VTB. ICU owned a 35% stake in the chain, and they officially announced that they had withdrawn from co-ownership only after the full-scale invasion [of Ukraine]. It is logical to assume that cooperation with VTB had been flourishing before, despite the annexation of Crimea and Donbass. However, there is one interesting point: despite the announcement of its withdrawal, ICU continues to own a stake in Burger King Russia. Here is a quote from a BBC article dated 3 October 2023: 'ICU Group, a large Ukrainian investment firm, owns a 35% stake. ICU Group told the BBC it has no control over the joint venture or operations in Russia and other countries covered by the franchise deal. It said the firm was 'at the final stage of exiting' the franchise agreement with terms agreed with a buyer. The company added it had abstained from managing the joint venture and investing in it and had not received any dividends since the war began.' So it appears that there was a statement, but no actual exit . I have only lightly touched on the issue of ICU's ties to Russian business. All indications are that the ties are not just with Russian businesses, but with the leading state-owned Russian business. If an objective investigation confirms these links, what are the consequences? ICU is registered in London. If the links with VTB are confirmed, this could be a violation of the financial market participant's code of ethics. British regulators are tough on violations, as unethical behaviour undermines confidence in the market as a whole. Cooperation with VTB means that ICU could have dealt with assets or persons on the EU sanctions lists. As for ICU's actions to restructure LPNs, they follow the toxic models of the Poroshenko-Gontareva era: offshores, aggressive actions, imitation of an agreed position, circumvention of information disclosure requirements. If it turns out that ICU, through FPP and GLAS, is creating an infrastructure of pressure on the market and its participants, it could cost the group its licence. Such an unfair practice may also alert European regulators (ICU plans to move one of its offices to the EU). The tools used by ICU are an example of toxic behaviour that undermines confidence in markets. Through its affiliates, ICU interferes with restructuring processes, disguises beneficiaries, blocks market decisions and acts against the interests of independent holders. In Ukraine, exposing the facts of cooperation with Russia is a direct path to sanctions. Sanctions may be followed by the loss of licences, nationalisation of the bank and securities trader, and reputational damage. I'm pretty sure that ICU has influential patrons in the Ukrainian government, but each of them has a limit beyond which they simply retreat. I repeat myself: this is just one of the possible scenarios. It could be realised if ICU goes to open war with influential Ukrainian families, and they decide to strike back. I have sent detailed questions to the ICU owners to clarify the stated facts. Two weeks have passed and there is still no response. If any responses are received, I'll let you know. Texts published in the Opinion section do not necessarily reflect the position of the UNIAN editorial board. You can read more about our editorial policy at this link
Yahoo
05-06-2025
- Health
- Yahoo
Brenda Elaine Donaldson, Youngstown, Ohio
YOUNGSTOWN, Ohio (MyValleyTributes) – Ms. Brenda Elaine Donaldson, 71, of Youngstown, transitioned to eternal peace with the Lord on Wednesday, May 28, 2025, at Mercy Health St. Elizabeth Youngstown Hospital. Ms. Donaldson was born October 26, 1953, in Lyndhurst, Virginia, a daughter of George R. and Bernice F. Hodges Bell. Find obituaries from your high school She was a 1971 graduate of Stuart's Draft High School and later graduated from nursing school in Virginia where she received her LPN license. Brenda had been employed with Northside Hospital as a nurse for more than 25 years and later retired from Care Source as a Case Manager in 2019. She was a member of Mega Church in Cleveland, Ohio, where she served as a co-lead intercessor, worked with the Children's Choir, and Women's Ministry. She also served on the intercessory team at the former New Life Church in Cortland, Ohio, and on the Praise and Worship Ministry and Youth Music Ministry at the former Evangel Assembly of God in Youngstown, Ohio. Brenda had worked as a volunteer with the Boy Scouts of America at Martin Luther Lutheran Church and the Parent Teacher Association at the former Sheridan Elementary School, both in Youngstown, Ohio. She was a member of the Nurses Secret Sisters, a union representative for Northside Hospital, the Southside Neighborhood Block Watch; and an usher at the DeYor Performing Arts Center. She was also supporter and donor to Historically Black Colleges and Universities (HBCUs). In addition to her volunteer work, Brenda enjoyed canning, knitting and harvesting fruits and vegetables from local farms in Ohio and her hometown in Virginia. You knew Brenda loved your company if she ever gave you a jar of her strawberry jam, can of pickles or chow-chow, a hand-written card with a kind note, or if she gave you a blanket she knitted with your favorite colors. She leaves to cherish her memory and to celebrate her life and legacy, two children, Stanley (Nicole) Donaldson Jr. of Norfolk, Virginia, and Stacey Donaldson of Crofton, MD; two grandchildren, Savannah and Sadie Donaldson; and a host of nieces, nephews, other family and dear friends. Besides her parents, she was preceded in death by two brothers, George Russell 'Butch' Bell, Jr. and David Bell. Visitation will be Saturday, June 7, 2025, from 9:00 – 10:00 a.m. at the Rising Star Baptist Church, 2943 Wardle Avenue, Youngstown, Ohio. A celebration of life service will follow at 10:00 a.m. Arrangements are being handled by the L.E. Black, Phillips & Holden Funeral Home. To send flowers to the family or plant a tree in memory of Brenda Elaine Donaldson, please visit our floral store. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
09-05-2025
- Yahoo
Iowan whose nurse's license was revoked for fraudulent diploma gets a new license
(Photo courtesy of the Iowa Board of Nursing) A man whose nursing license was revoked for knowingly purchasing a fraudulent diploma has been awarded a new license to practice in Iowa. In January 2022, the Iowa Board of Nursing revoked the practical nurse's license it had granted to Enome Massango of West Des Moines in 2018, as well as the registered nurse's license it had granted him in 2021. According to board records, Massango later admitted he had paid a man named Musa Bangura for transcripts and diplomas as a 'short cut' to completing his education at schools that federal officials likened to a diploma mill. According to the board, Massango acknowledged his educational program as a licensed practical nurse consisted of a single-day 'review course.' Board records indicate Massango had to take the LPN exam twice, and the RN exam four times, before passing the tests. After obtaining his nursing license in Iowa, Massango spent four years working at various locations, including Valley View Village, an assisted living center and nursing home located in Des Moines. The board concluded Massango had engaged in fraud when he knowingly purchased fraudulent documents in order to qualify for licensure in Iowa, adding that his case was 'particularly egregious.' Massango, the board said, 'received little to no classroom instruction and did not undergo any clinical training.' When the board revoked Massango's license in 2022, it stipulated that before he could apply for relicensure, he'd have to obtain the proper educational credentials and appear 'before the board for a reinstatement hearing' to establish that his licensure was in the public interest. Board records show that on April 11, 2024, the board voted to grant Massango a new registered nurse's license authorizing him to resume practicing in Iowa. Massango said Friday he did not have to appear before the board and argue his case before the new license was issued.
Yahoo
10-04-2025
- Health
- Yahoo
Apply to University of Arkansas Hope-Texarkana's Licensed Practical Nursing Program by May 1
HOPE/TEXARKANA, Ar. (KTAL/KMSS) – The deadline to apply for the University of Arkansas Hope-Texarkana's Licensed Practical Nursing (LPN) Program is May 1, 2025, by 4:30 p.m. Free classes at UA Hope-Texarkana available at select high schools 'The LPN program is a full-time, 11-month, selective admission program leading to a Technical Certificate in Practical Nursing,' a press release stated. 'The program prepares students for licensure through the National Council Licensure Examination (NCLEX-PN) and meets the requirements for accreditation by the Arkansas State Board of Nursing.' The release added that accepted applicants will begin the program on May 30, 2025, at UAHT's Hope campus. Interested students should contact an advisor today for admission criteria. For more information, please call the UAHT Health Professions Department at 870-722-8289. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Forbes
02-04-2025
- Business
- Forbes
For Aspiring Home Care Business Owners, A Service-First Mindset Is The Key To Success
CEO of Homecare Solutions, Inc. dba Visiting Angels, Coach & International Best-Selling Author empowering others to elevate their success The percentage of seniors in the global population is accelerating. According to the World Health Organization, 'Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%.' In light of this demographic change, there will be an increased need for medical and non-medical home care services. On the non-medical side, many older adults will need help with tasks such as personal care, meal preparation, light housekeeping and transportation. Many will also need companionship. Consider this: Data from the U.S. Census Bureau revealed that 'nearly 3 in 10 adults 65 or older lived alone in 2022.' For aspiring home care business owners, a service-first mindset, rather than one driven solely or largely by financial motives, will be crucial for success in the industry. The home care services industry is a relationship-based one that requires empathy, responsibility and a commitment to high-quality care. Seniors and their loved ones depend on home care services providers to deliver compassionate, reliable support that enhances their quality of life. In my view, when home care services owners are rooted in purpose and service, it naturally leads to employee and client satisfaction, enhanced trust and ultimately business success. Employees know when they're truly cared for (caregivers need to be cared for, too). When employees feel taken care of, they're more likely to deliver exceptional care. Clients and their loved ones, I've found, pick up on whether or not employees are being treated well. If clients and their loved ones see employees being treated poorly, they may naturally question whether the company can provide quality care for seniors. If you're an aspiring home care services business owner, reflect on what is driving you to go into this line of work. Running a home care services business is emotionally and logistically difficult. If your reason for entering this industry is purely or largely financial, you're less likely to be motivated to keep on going—and less likely to succeed. A strong sense of purpose will power your ability to tackle the challenges of this industry and go above and beyond for your employees and clients. Given the challenging nature of the home care services industry, it can be difficult for business owners to maintain a service-first mindset. However, in my years in this industry, I've found that creating a culture of care is crucial for maintaining a service-first mindset. In my early days in the home care services industry, I worked as a certified nursing assistant (CNA) and licensed practical nurse (LPN). I saw firsthand how the lack of a culture of care impacted operations. Many employees, stressed and under pressure, just wanted to complete their assignments for the day and go home. For the most part, they weren't focused on building relationships with clients. In my experience, when caregivers and other employees of home care services companies feel cared for, they're able to provide better care to clients and are more likely to stay with your organization, increasing your retention rate. Professional caregiving has high turnover, and the more caregivers you can retain, the better off your company will be in the long run. Once you become the owner of a home care services company, it's important to show compassion to your team members. Some steps you should take include paying everyone on time, giving fair compensation and being as flexible as possible with schedules. When you show your employees compassion, you're leading by example. A genuine culture of care, I believe, ripples throughout an organization. After you've become the owner of a home care services company, it's important to determine your metrics for success—and regularly measure those metrics. Financial KPIs are important, but they are far from the only metrics you should evaluate. If you're only evaluating financial KPIs, you're not getting the full picture. You should identify a broader set of metrics to focus on, metrics that clue you in on how you and your team are impacting your clients, their families and the broader community. Such metrics could include the number of five-star reviews, caregiver retention rates and community outreach and education events. Your ultimate measure of success should come down to how well you and your team are helping clients. Regularly checking in with clients and their families in person, as well as through surveys, will inform you about what you're doing well and what you need to improve. By acting on that feedback, maintaining a culture of care and keeping your reason for entering this industry top of mind, you'll be able to create an organization that your employees, clients and community champion. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
