Roadside cattle grazing can increase fire risk, warns ecologist John Morgan


Roadside grazing seems to be an obvious win-win situation — hungry stock access feed, and the fire risk beside the road is reduced.

But an ecologist is warning that droving cattle in some parts of Victoria would increase fire fuel loads.

Moyne Shire Council in south-west Victoria has written to the federal environment minister Sussan Ley seeking an exemption that would allow grazing on roadsides where there is native vegetation in order to reduce fire risk.

A council report found there was high-value native vegetation in sections along roadsides throughout the municipality, which was protected under the Environment Protection and Biodiversity Conservation (EPBC) Act.

Associate professor John Morgan, an expert in native grasslands and fire ecology at La Trobe University, said it was a popular theory, but it had not been demonstrated that roadside droving reduced fire risk.

He said, in some cases, the opposite was true.

“What it does is create lots of weed invasion and lots of degradation of those roadsides,” Dr Morgan said.

He said native vegetation with high biological value did not evolve with hard-hoofed animals like cattle, which trampled the vegetation and facilitated the invasion of exotic species.

“There’s some nice evidence in certain parts of western Victoria that suggests that if you disturb some of these beautiful native grasslands, they become weedy and actually are much higher fire risk than they were before that sort of grazing,” Dr Morgan said.

He said native grass species were typically a lower fire risk than introduced species because they were shorter and remained greener over summer.

Dr Morgan said there were areas of vegetation on roadsides that had species found nowhere else in the world.

“Some of the species that are entirely reliant on these habitats deserve our protection and our understanding that these areas are important,” he said.

“So, I would hope that those particular parts of the landscape weren’t granted exemptions.”

Dr Morgan said native vegetation had evolved with regular fire, so fuel mitigation by the Country Fire Authority (CFA) was compatible with conservation outcomes.

CFA district five assistant chief fire officer Richard Bourke said there were benefits to burning roadside fuel, including increasing biodiversity because native grass species benefited from a burning regime.

“Burning also provides CFA volunteers with ongoing skills acquisition, experience using fire as a management tool, and this obviously helps CFA firefighters in gaining experience with fire on the landscape,” Mr Bourke said.

Moyne mayor Daniel Meade said a drover from New South Wales grazed cattle on some roadsides in the Moyne Shire in 2019, but the drover returned to NSW after three weeks.

“Despite our preparation, when the drover arrived, the DELWP legislation around the protection of native vegetation and safety issues with crossing State Government arterial roads prevented council facilitating the droving,” Cr Meade said.

Fellow Moyne councillor James Purcell said the council was aiming to re-introduce droving to reduce fire risk while benefitting farmers.

“There is a lot of grass here that can help farmers from different parts of Australia to keep their stock in drought situations,” Cr Purcell said.

But he said it was impossible to find a circuit with enough vegetation that wasn’t native.

“And that’s why we’ve gone to look for an exemption from the Environment Minister so that the drover could actually go over some of those areas that do have some significance,” Cr Purcell said.

He said he was not confident that the Federal Environment Minister would grant an exemption.

“But I won’t be holding my breath.”

A spokesperson for Ms Ley stated the council’s request would be considered in accordance with the Act.

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Germany to tighten controls at French border over ‘high’ coronavirus risk – POLITICO



German health authorities on Sunday designated the Moselle region of eastern France as a “high risk” zone because of the prevalence of coronavirus variants, and said tougher border restrictions would be imposed beginning Tuesday.

Germany has already imposed severe restrictions at some border crossings with the Czech Republic and Austria, drawing complaints about Berlin’s departure from a European Council effort to coordinate such measures.

During a European Council video summit on Thursday, Chancellor Angela Merkel told other heads of state and government that Germany’s measures were necessary and she insisted that the tighter rules were not disrupting commerce. Other countries have disputed that assertion.

The Robert Koch Institute, Germany’s federal disease control and prevention agency, announced the new high-risk designation for Moselle in a statement on Sunday.  

As a result, cross-border travelers may face demands for proof of a PCR test within the past 48 hours showing they are not infected with coronavirus.

French officials, including junior minister for European affairs, Clément Beaune, quickly voiced apprehension over the tougher border restrictions.

“I regret this German decision because it implies a certain number of slowdowns, difficulties at the borders, again not for touristic movements, but for work,” Beaune said on France Info radio. He said that French officials were still negotiating with German counterparts over the situation.

This article is part of POLITICO’s premium policy service: Pro Health Care. From drug pricing, EMA, vaccines, pharma and more, our specialized journalists keep you on top of the topics driving the health care policy agenda. Email [email protected] for a complimentary trial. 



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Heavy rain and flood risk warning


Meteorologists are closely watching a low-pressure system stalking the North Queensland coast, having issued a flood warning with the potential for a tropical cyclone to “spin up quite rapidly”.

A flood watch warning is currently in place between Mission Beach and Rollingstone to the north of Townsville with an unpredictable weather system threatening to bring damaging wind and rain in the coming days, according to the Bureau of Meteorology.

“In the northwest Coral Sea a tropical low that’s embedded in the monsoon trough is currently sitting pretty far offshore and to the north with the potential for cyclone development, particularly as we come through the early days of next week,” meteorologist Kimba Wong told NCA NewsWire on Saturday morning.

“Its proximity to land will very much be a determining factor in how quickly it might develop and exactly where it might be, so there’s uncertainty in the position and the movement.”

Ms Wong said the cyclone could develop by Tuesday and urged residents to keep an eye out for warnings in the coming days.

“Of course, we’re in cyclone season and once these tropical lows form they can spin up quite rapidly,” she said.

“So it’s a good idea to keep up to date with the latest forecasts and warnings.”

The unpredictability of the weather system creates an element of significant risk, but Ms Wong said the current trajectory suggested it would remain offshore above the Coral Sea.

“Modelling guidance suggests it may linger off the northeast coast of Queensland for a couple of days before moving off to the southeast,” the meteorologist said.

“If it does form up into a cyclone it looks like it will most likely stay offshore, but of course that may change because there is an element of uncertainty there.

“What that means for Townsville is if that system comes closer to the coast, it could bring quite significant rainfall to the region but if it does remain just a little bit further offshore it may lead to offshore winds and very much reduced rainfall.”

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AFL overhauls remainder of pre-season fixture to minimise COVID risk



Hawks are “bitterly disappointed” as clash with North Melbourne is switched from Launceston to Melbourne.

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Capitol riot risk warning never reached top security officials, they say


“None of the intelligence we received predicted what actually occurred,” Sund said, referring to scenes in which Trump supporters assaulted police, smashed windows and charged through the Capitol chanting “Hang Mike Pence.”

“We properly planned for a mass demonstration with possible violence,” Sund said. “What we got was a military-style coordinated assault on my officers and a violent takeover of the Capitol Building.”

The January 6 riot at Capitol Hill has increased urgency to tackle the domestic terror threat in the US.Credit:Parler via ProPublica

The attack was an attempt to stop Congress, with former Vice President Pence present, from certifying Democratic President Joe Biden’s electoral victory over Republican Trump, who falsely claimed the election had been marred by widespread fraud.

The former sergeants-at-arms of the House of Representatives and Senate, Paul Irving and Michael Stenger, also testified on Tuesday, saying they did not see the FBI warning.

All three resigned in the wake of the violence, which shook the world, threatened a peaceful transition of power and endangered the lives of lawmakers and Pence, prompting former president Trump’s second impeachment trial.

DC Police Chief Robert Contee.Credit:AP

The Capitol building, which hosts the 535 members of Congress, has long been open to visitors and guests in a way that the White House has not been in decades. Passersby could walk almost to the building’s steps and prior to the COVID-19 pandemic it was still open to tourists, who had to enter through a special visitors’ entrance.

Sund said he had requested National Guard troops be deployed at the Capitol in a conversation with Irving and Stenger two days before the riot, but that Irving had expressed concern about “optics” of using the troops.

Irving, however, said he did not remember the discussion as a request, and flatly denied he had been concerned about appearances.

“We did discuss whether the intelligence warranted having troops at the Capitol. The collective judgment at that time was no – the intelligence did not warrant that,” Irving told the committees.

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Sund and Irving also gave conflicting accounts of their communication on the chaotic day of the attack. Sund said he had called Irving at 1.09pm to ask for National Guard troops as members of the mob were fighting with Capitol Police at the steel crowd control barriers outside the building. Irving said he had no record of a call then.

“There seems to be some confusion about the basic facts and who asked for what, when,” observed Republican Senator Josh Hawley. Senators asked for phone records.

Washington, DC, metropolitan police rushed to the scene after Sund requested their help at 12.58pm, the city’s acting police chief Robert Contee told senators.

His forces helped the Capitol Police control the mob and eventually clear the Capitol so that lawmakers could return to certify Biden’s victory.

But Contee said he was shocked by an inter-agency call about 2.22pm, when he heard Sund pleading with Pentagon officials for National Guard to be deployed.

The January 6 riot at Capitol Hill has increased urgency to tackle the domestic terror threat in the US.Credit:Parler via ProPublica

Army officials were reluctant, expressing concerns about how it would look, Contee said, adding, “I was stunned at that response.”

The first members of the National Guard did not appear on the Capitol grounds until 5.40pm, Sund said.

US media reports said that congressional leaders and security officials had not wanted to see the same militarised presence around the Capitol that was stationed about the White House during summer anti-racism protests.

Scores of police were assaulted in the melee, with over 140 Capitol Police and some 65 metropolitan police injured.

More than 200 people have been charged so far for their roles in the riot, including some with ties to far-right fringe groups such as the Oath Keepers and Proud Boys.

Senators next week plan to call witnesses from the FBI, the Department of Defence and the Department of Homeland Security.

Democratic Senator Gary Peters said the incident revealed clear gaps in intelligence around domestic extremists: “The federal government must start taking these online threats seriously, to ensure they don’t cross into real-world violence.”

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Drugs for benign prostatic hyperplasia associated with increased risk of cardiac failure



Widely used medications for benign prostatic hyperplasia (BPH) – also known as enlarged prostate – may be associated with a small, but significant increase in the probability of developing heart failure, suggests a study in The Journal of Urology®, Official Journal of the American Urological Association (AUA). The journal is pub lished in the Lippincott portfolio by Wolters Kluwer.

The risk is highest in men taking a type of BPH medication called alpha-blockers (ABs), rather than a different type called 5-alpha reductase inhibitors (5-ARIs), according to the new research by Dr. Robert Siemens, MD, and colleagues of Queen’s University, Kingston, Ont., Canada. “While no one should stop taking their BPH medications based on these results, our study contributes new evidence for understanding the complex interaction of factors affecting heart disease risk in men with BPH,” Dr. Siemens comments.

Do BPH drugs affect heart failure risk? New long-term, follow-up data

Benign prostatic hyperplasia is a very common condition in men, especially at older ages. It occurs when the prostate gland becomes enlarged, causing urinary symptoms (such as frequent and difficult urination). Millions of men take medications to reduce BPH symptoms – most commonly ABs, 5-ARIs, or a combination of the two.

Both BPH and cardiovascular disease are common in older men, which may reflect shared risk factors or causes. Clinical trials have suggested that men taking ABs or 5-ARIs might be more likely to develop heart failure: a chronic condition where the heart can’t pump enough blood to keep up with demand. However, other studies have found no such link.

To clarify the association between BPH medications and heart failure, Dr. Siemens and colleagues used Ontario health data to identify more than 175,000 men diagnosed with BPH. About 55,000 patients were being treated with ABs alone, 8,000 with 5-ARIs alone, and 41,000 with a combination of ABs and 5-ARIs. The rest were not taking either type of BPH medication.

On analysis of follow-up data, men treated with ABs and/or 5-ARIs were more likely to be diagnosed with heart failure. The risk of developing heart failure were increased by 22 percent in men taking ABs alone, 16 percent for those taking combination therapy, and 9 percent for those taking 5-ARIs alone, compared to the control group of men not taking BPH medications. The associations were significant after adjusting for other characteristics, including heart disease risk factors.

Heart failure risk was higher with older “nonselective” ABs compared to newer “selective” ABs. Risk was higher in men taking ABs for a prolonged time: 14 months or longer.

Dr. Siemens and coauthors emphasize that while the increased probability of developing heart failure was statistically high, the absolute risk was relatively low. Risk factors such as previous heart disease, high blood pressure and diabetes had a much greater impact on heart failure risk compared to BPH medications. The researchers also note the control group of patients not taking 5-ARIs or ABs may have had less severe BPH symptoms, with possible differences in heart disease risk factors.

Our study suggests men taking ABs and/or 5-ARIs are more likely to be diagnosed with heart failure. This is an important finding, given that BPH is so common among older men, and that these medications are so widely used.”


Dr. Robert Siemens, MD, Queen’s University, Kingston, Ont., Canada

Dr. Siemens adds: “Since men with BPH may continue these medications for several years, it is important physicians be aware of this risk, including both primary care physicians and urologists, perhaps especially in patients with previous heart disease or cardiovascular risk factors.”

Source:

Journal reference:

Lusty, A., et al. (2021) Cardiac Failure Associated with Medical Therapy of Benign Prostatic Hyperplasia: A Population-Based Study. Journal of Urology. doi.org/10.1097/JU.0000000000001561.

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NIMH » Study Identifies Risk Factors for Elevated Anxiety in Young Adults During COVID-19 Pandemic


Findings on impact of childhood temperament could help with anxiety prevention efforts

A new study has identified early risk factors that predicted heightened anxiety in young adults during the coronavirus (COVID-19) pandemic. The findings from the study, supported by the National Institutes of Health and published in the Journal of the American Academy of Child and Adolescent Psychiatry, could help predict who is at greatest risk of developing anxiety during stressful life events in early adulthood and inform prevention and intervention efforts.

The investigators examined data from 291 participants who had been followed from toddlerhood to young adulthood as part of a larger study on temperament and socioemotional development. The researchers found that participants who continued to show a temperament characteristic called behavioral inhibition in childhood were more likely to experience worry dysregulation in adolescence (age 15), which in turn predicted elevated anxiety during the early months of the COVID-19 pandemic when the participants were in young adulthood (around age 18).

“People differ greatly in how they handle stress,” said Daniel Pine, M.D., a study author and chief of the National Institute of Mental Health (NIMH) Section on Development and Affective Neuroscience. “This study shows that children’s level of fearfulness predicts how much stress they experience later in life when they confront difficult circumstances, such as the pandemic.”

Behavioral inhibition is a childhood temperament characterized by high levels of cautious, fearful, and avoidant responses to unfamiliar people, objects, and situations. Previous studies have established that children who display behavioral inhibition are at increased risk of developing anxiety disorders later. However, less research has investigated the specific mechanisms by which a stable pattern of behavioral inhibition in childhood is linked to anxiety in young adulthood.

The authors of this study hypothesized that children who demonstrate a stable pattern of behavioral inhibition may be at greater risk for worry dysregulation in adolescence—that is, difficulties managing worry and displaying inappropriate expressions of worry—and this would put them at greater risk for later heightened anxiety during stressful events like the pandemic.

In the larger study, behavioral inhibition was measured at ages 2 and 3 using observations of children’s responses to novel toys and interaction with unfamiliar adults. When the children were 7 years old, they were observed for social wariness during an unstructured free play task with an unfamiliar peer. Worry dysregulation was assessed at age 15 through a self-report survey. For the current study, the participants, at an average age of 18, were assessed for anxiety twice during the early months of the COVID-19 pandemic after stay-at-home orders had been issued (first between April 20 and May 15 and approximately a month later).

At the first assessment, 20% of the participants reported moderate levels of anxiety symptoms considered to be in the clinical range. At the second assessment, 18.3% of participants reported clinical levels of anxiety. As expected, the researchers found that individuals with high behavioral inhibition in toddlerhood who continued to display high levels of social wariness in childhood reported experiencing dysregulated worry in adolescence, and this ultimately predicted increased anxiety in young adulthood during a critical stage of the pandemic. This developmental pathway was not significant for children who showed behavioral inhibition in toddlerhood but displayed low levels of social wariness later in childhood.

“This study provides further evidence of the continuing impact of early life temperament on the mental health of individuals,” said Nathan A. Fox, Ph.D., Distinguished University Professor and director of the Child Development Lab at the University of Maryland, College Park, and an author of the study. “Young children with stable behavioral inhibition are at heightened risk for increased worry and anxiety, and the context of the pandemic only heightened these effects.”

The findings suggest that targeting social wariness in childhood and worry dysregulation in adolescence may be a viable strategy for the prevention of anxiety disorders. The findings also suggest that targeting dysregulated worry in adolescence may be particularly important for identifying those who might be at risk for heightened anxiety during stressful life events like the COVID-19 pandemic and preventing that heightened anxiety.

Reference:

Zeytinoglu, S., Morales, S., Lorenzo, N. E., Chronis-Tuscano, A., Degnan, K. A., Almas, A. N., Henderson, H., Pine, D. S., Fox, N. A. (2021) A Developmental Pathway from Early Behavioral Inhibition to Young Adults’ Anxiety During the COVID-19 Pandemic. Journal of the American Academy of Child and Adolescent Psychiatry. doi: 10.1016/j.jaac.2021.01.021

Grant:

MH093349, HD017899

###

About the National Institute of Mental Health (NIMH): The mission of the NIMH is to transform the understanding and treatment of mental illnesses through basic and clinical research, paving the way for prevention, recovery and cure. For more information, visit the NIMH website.

About the National Institutes of Health (NIH): NIH, the nation’s medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit the NIH website.

NIH…Turning Discovery Into Health®

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Wiped off Facebook: ‘Outrageous’ ban upsets Aussies at risk



Suburban mothers groups, vital health services and even national treasures, Jimmy and Jane Barnes were ‘wiped’ off Facebook, in the wake of its big tech tantrum today.

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Tasmania’s AFL ultimatum is the right move, but it places the entire sport in Tasmania at risk


Tasmanian Premier Peter Gutwein believes his ultimatum to the AFL presents Tasmanians with the ultimate win-win — and he’s probably right.

Either the AFL gives Tasmania a date for entry to the league, or the State Government cuts funding to Hawthorn and North Melbourne, leaving multi-million-dollar holes in their balance sheets.

It’s a threat from the pen of a Premier in charge of a state that no longer has anything to lose, and a scenario the AFL surely doesn’t want to see happen.

But if the goal of a Tasmanian team is to resuscitate Australian rules football in Tasmania, the move is somewhat dangerous.

What if the AFL calls Tasmania’s bluff and says “no team for you”, leaving Tasmania either footy-less or having to pay other Victorian teams on a one-off basis to come to Tasmania to play games?

Does that further the game in Tasmania?

Does that provide the oft-spoken-about “pathway” for the 10-year-old boy or girl pondering whether to pick up a Sherrin footy or a Spaulding basketball?

AFL is competing with other sporting codes for the hearts and minds of young talent.(AAP: Joe Castro)

While the tough stance is admirable and could well lead to the AFL bending and finally granting Tasmania an entry date into the big league, further hurting the grassroots game is a live possibility.

There’s also the $30 million hole in the winter tourism economy that a departing Hawthorn and North Melbourne would create, although the Premier has that base covered.

“I’ve got no doubt at all we’d fill that. We’ve got $8 million to spend,” Mr Gutwein said on Friday.

There exists however an alternate reality where Tasmania could have had its cake — and eaten it too.

Gillon McLachlan with young players at Bellerive
Gillon McLachlan with then AFL Tasmania boss Trisha Squires and young players at Bellerive Oval in 2018.(ABC News: Tony King)

Remember AFL CEO Gillon McLachlan’s heavily publicised visit to Tasmania in 2018?

On that trip, he granted Tasmania provisional entry into the VFL competition for 2021.

It was to be a stepping-stone into the big league, that if well executed would prove the state’s ability to make the eventual leap into the AFL.

Under then-chief executive Trish Squires, AFL Tasmania got to work.

However, the mood then changed upon the release of the Tasmanian AFL taskforce’s, government-backed AFL business case in 2019.

The report recommended Tasmania only pursue the VFL if it had guarantees around future AFL entry.

With no guarantee forthcoming, the VFL pathway plan was spiked.

But what if Tasmania had pushed forward with the plan to enter the VFL by 2021?

Australian football players on a field.
Tasmanian football fans hope that the State Government’s strong stance will pay off.(Supplied: afl.com.au)

In that alternate timeline, Tasmania could be preparing for entry into the league — which has since expanded into an AFL eastern seaboard competition — this year.

In October 2019, when asked what would happen if a VFL team wasn’t established by 2021, Squires said “we would lose a lot of players who are currently in Tasmania [who] would potentially go and play in another state league and may not return to the state”.

Her prediction has proven sadly accurate.

AFL stadium at night, aerial shot
Top Tasmanian talent pack their bags and head to the mainland to chase the AFL dream.(Supplied: Daniel Anthony)

Local top-liners Kieran Lovell, Taylor Whitford and Aiden Grace have packed their bags for other state leagues.

A laundry list of other top talent has quit the Tasmanian State League (TSL), seeking bigger dollars in lower grades.

Aspirational teenagers Sam Collins, Hamish Allen and Jackson Callow are also gone after being overlooked by AFL recruiters, who quite simply don’t believe the TSL is up to scratch.

How many of those players might still be here had Tasmania pursued the VFL?

Tasmanian AFLW players
Tasmania has its fair share of female football talent.(ABC News: David Hudspeth)

Remember, Tasmania had a provisional licence it chose not to cash in on, at the recommendation of the government taskforce.

If it had, at least then, even if the AFL knocked back the state’s latest push for a license, the VFL would provide some semblance of footy alternative.

Instead, as it stands, a weakened TSL is the highest level in which our youngsters can aspire to without leaving.

For most of the girls, it’s now regional club footy.

A group of AFL players walk off looking glum after losing a match.
What would Hawthorn do without money from Tasmania?(AAP: Craig Golding)

The vast majority of Tasmanian football fans hope that the State Government’s strong stance will pay off, and that The Map will grace the fields of the AFL sooner rather than later.

A date is all Tasmanians want.

But if the dice doesn’t roll the Government’s way, the game may well end up worse off in Tasmania than it already is.

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New Ponzi scheme may have put $2.2 billion at risk


‘All a lie’

William McGovern, a lawyer for Gentile, declined to comment on the allegations. The firm’s website had been taken down on Thursday, and a spokesperson couldn’t be immediately reached for comment.

“The defendants misrepresented the holdings of GPB Capital through deceptive marketing practices, luring investors with promises of monthly distributions that would be covered by funds from the investments and not drawn from underlying invested capital,” William Sweeney, the head of the Federal Bureau of Investigation’s New York office, said in a statement.

“As we allege today, however, this was all a lie,” Sweeney said. “In truth, a significant portion of GPB’s distributions were paid directly from investor funds.”

The indictment was unsealed in federal court in Brooklyn, New York, on Thursday. Gentile, 54, the New York investment advisory firm’s founder and chief executive officer, was charged with conspiracy, securities and wire fraud and arrested in Boston. At an initial court appearance, he was released on a $US500,000 bond co-signed by his wife and directed to surrender firearms he has at his homes in Manhasset, New York, and Clearwater, Florida.

Gentile faces as long as 20 years in prison if convicted of the most serious charges, including securities fraud, as well as a fine of as much as $US5 million on the securities fraud count, Assistant US Attorney Amanda Beck told the court.

‘Aura of success’

GPB used the funds to subsidise private planes and luxury travel for the three executives, according to a separate lawsuit on Thursday by New York Attorney General Letitia James, one of several state AGs to file suit. Payments went to their personal bank accounts and to family members, and Gentile even purchased a Ferrari with the money, James alleged.

In the SEC’s complaint, also filed in Brooklyn, the regulator called the firm’s work “an illusion.”

“GPB Capital projected an aura of success, touting that it consistently made an 8 per cent annualised distribution payment to investors, as well as periodic ‘special distributions’ ranging from 0.5 to 3 per cent,” the SEC said. In reality, it claimed, the firm “used investor funds to cover the shortfall between funds from operations of the portfolio companies and the amount needed to make an annualised 8 per cent distribution payment.”

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The SEC also says GPB violated whistle-blower protection laws by including language in termination and separation agreements that barred two former employees from coming forward to the regulator and by retaliating against a third who complained to the SEC.

Alternative asset manager

The alleged scheme went from August 2015 to December 2018, according to the indictment, which also names Jeffrey Lash, 51, of Naples, Florida, a former managing director at GPB, and Jeffrey Schneider, 52, of Austin, Texas, the owner of GPB’s placement agent Ascendant Capital.

Kevin Galbraith, a lawyer for Lash, and Glenn Colton, a lawyer for Schneider, didn’t immediately return calls seeking comment on the case.

GPB, founded in 2013, has described itself as an alternative asset manager that acted as general partner and manager for other funds, which invest in businesses from automotive retail to waste management to health care, according to the SEC.

The firm hasn’t delivered audited financial statements for the limited partnership funds to investors for more than four years and is more than three years delinquent in registering two of the funds, the regulator said.

Madoff was sentenced to 150 years in prison for masterminding the largest Ponzi scheme in history. Stanford’s racket involved fraudulent certificates of deposit tied to a private Caribbean bank that offered a return federal prosecutors said was “too good to be true.” He is currently serving 110 years in prison.

Bloomberg

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