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Republican-led panel targets COVID relief dollars for review

WASHINGTON (AP) — More than 1,000 people have pleaded guilty or have been convicted on federal charges of defrauding the myriad COVID-19 relief programs that Congress established in the early days of the pandemic. And more than 600 other people and entities face federal fraud charges.

But that’s just the start, according to investigators scheduled to testify Wednesday to a congressional committee as House Republicans mark the beginning of what they promise will be aggressive oversight of President Joe Biden’s administration.

The House Committee on Oversight and Accountability is holding its first hearing in the new Congress on fraud and waste in federal pandemic spending. Congress approved about $4.6 trillion in spending from six coronavirus relief laws, beginning in March 2020 when Donald Trump was president.

“We owe it to the American people to get to the bottom of the greatest theft of American taxpayer dollars in history,” said Rep. James Comer, R-Ky., the committee’s chairman.

The Government Accountability Office is expected to tell the committee that the number of cases of suspected fraud is certain to grow in the coming months. For example, the inspector general for the Small Business Administration has more than 500 ongoing investigations involving loan programs designed to help businesses meet operating expenses during the pandemic. The inspector general for the Labor Department continues to open at least 100 unemployment insurance fraud investigations each week.

The GAO said the more than 1,000 convictions related to COVID-19 relief fraud are one measure of how extensive it was. How much money was lost to fraud? That’s unknown, the GAO said, but it reported in December that an extrapolation of Labor Department data would suggest more than $60 billion in fraudulent unemployment insurance payments during the pandemic. The GAO also warned that such an extrapolation has inherent limitations and should be interpreted with caution.

Still, lawmakers are anxious to discern how much theft has occurred and what can be done to stop it in future emergencies.

“We must identify where this money went, how much ended up in the hands of fraudsters or ineligible participants, and what should be done to ensure it never happens again,” Comer said.

Some 20 inspectors general work collaboratively to investigate pandemic relief spending. Michael Horowitz, who chairs a committee Congress created in March 2020 to lead oversight of COVID-19 spending, is also scheduled to testify.

In his prepared remarks, Horowitz said the committee issued a fraud alert this week regarding the use of more than 69,000 questionable Social Security numbers to obtain $5.4 billion in pandemic loans and grants.

Also testifying is David Smith, an assistant director of the Office of Investigations at the U.S. Secret Service, who predicts that efforts to recover stolen assets and hold criminals accountable for pandemic fraud will continue for years to come.

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Romanian court to rule on ex-kickboxer Tate“s detention appeal

2023-02-01T10:51:19Z

Divisive internet personality Andrew Tate reiterated claims he was innocent on Wednesday ahead of a court hearing to rule on his appeal against extended detention pending a criminal investigation for alleged human trafficking and rape.

Tate, his brother Tristan and two Romanian female suspects have been in police custody since Dec. 29 pending an ongoing criminal investigation on charges of forming a criminal gang to sexually exploit women. They have denied the accusations.

In January, their detention was extended until Feb. 27, a decision which they appealed.

“You know I’m innocent,” Tate told reporters as he was taken inside the courtroom. Asked whether he was hoping to be released on Wednesday, he said, “There is not much justice in Romania.”

Prosecutors have said the Tate brothers recruited their victims by seducing them and falsely claiming to want a relationship or marriage.

The victims were then taken to properties on the outskirts of the capital, Bucharest, and coerced to produce pornographic content for social media sites that generated large financial gain, prosecutors said.

Prosecutors can ask the courts to extend the suspects’ detention for up to 180 days.

The Tates have repeatedly said prosecutors did not have real evidence against them. Their defence lawyers have asked the judge to consider placing the suspects under house arrest rather than police detention, court documents showed.

In an earlier ruling, a court said the detention period had been extended to prevent the suspects from allegedly resuming illicit activities.

Andrew Tate gained mainstream notoriety for misogynistic remarks that got him banned from all major social media platforms, although his Twitter account was reinstated in November after Elon Musk acquired the social media giant.

Related Galleries:

Andrew Tate and Tristan Tate are escorted by police officers outside the headquarters of the Bucharest Court of Appeal, in Bucharest, Romania, February 1, 2023. Inquam Photos/Eduard Vinatoru via REUTERS

Andrew Tate reacts while he and his brother Tristan Tate are escorted by police officers outside the headquarters of the Bucharest Court of Appeal, in Bucharest, Romania, February 1, 2023. Inquam Photos/Eduard Vinatoru via REUTERS

Tristan Tate and Andrew Tate are brought out from inside the headquarters of the Directorate for Investigating Organized Crime and Terrorism, in Bucharest, Romania, January 26, 2023. Inquam Photos/Sabin Cirstoveanu via REUTERS

Tristan Tate and Andrew Tate (not pictured) are brought in for questioning at the headquarters of the Directorate for Investigating Organized Crime and Terrorism, in Bucharest, Romania, January 26, 2023. Inquam Photos/Octav Ganea via REUTERS

Andrew Tate answers questions from the media while being escorted by police officers outside the headquarters of the Directorate for Investigating Organized Crime and Terrorism, in Bucharest, Romania, January 25, 2023. Inquam Photos/Octav Ganea via REUTERS


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Olympics-Paris 2024 organisers will abide to IOC decision on Russia“s participation

2023-02-01T10:31:58Z

PARIS (Reuters) – Paris 2024 organisers insisted they would abide by the International Olympic Committee’s decision on Russian and Belarusian athletes’ participation in the Games after Ukrainian President Volodymyr Zelenskiy urged the governing body into banning them from the sport’s extravaganza.

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FILE PHOTO: Olympic rings to celebrate the IOC official announcement that Paris won the 2024 Olympic bid are seen in front of the Eiffel Tower at the Trocadero square in Paris, France, September 16, 2017. REUTERS/Benoit Tessier/File Photo

Last week, the IOC said the Olympic Council of Asia had offered Russian and Belarusian athletes the chance to compete in Asia, drawing an outcry from Kyiv which has called for Russian sportspeople to be banned over Russia’s invasion.

Zelenskiy said that allowing Russia to compete at the 2024 Games would be tantamount to showing that “terror is somehow acceptable”.

Belarus has allowed Moscow to use its territory as a staging post of what Russia calls its “special military operation” in Ukraine.

Ukrainian presidential adviser Mykhailo Podolyak said on Monday that the IOC was “promoting violence, mass murders, destruction” and that a Russian presence at the Games would constitute giving the country “a platform to promote genocide”.

“As the conflict continues, Paris 2024 would like to express its full solidarity with Ukraine, its people and the Ukrainian Olympic and Paralympic movements, who are faced with an unimaginable crisis,” Paris 2024 told Reuters in a written statement on Wednesday, stressing that the IOC had taken several measures against Russia and Belarus.

“In response to this, the International Olympic Committee (IOC), has taken a number of sanctions since February 2022 including: No international sports event is organised or supported by an International Federation or National Olympic Committee in Russia or Belarus;

“No flags, anthems, colours or any other identification of these countries are displayed at any sporting event or meeting, including at all venues;

“No representative of the Russian government or state shall be invited or accredited to any international sporting event or meeting.”

According to Paris 2024, those sanctions “directly or indirectly affect the participation of Russian and Belarusian athletes in certain qualifying events for Paris 2024”.

Paris 2024 explained that their hands were tied on who could qualify for the next Summer Games.

“With regard to the presence of Russian and Belarusian athletes at the Paris 2024 Games, it should be recalled that the qualification system is determined by the international federations, the IOC and the IPC (International Paralympic Committee).

“Our wish is that the Olympic movement, the Paralympic movement and the athletes experience the Paris 2024 Games in a spirit of peace, respecting the values of fraternity and solidarity.”

The Paris 2024 Olympics will be held from July 26-Aug. 11 and the Paralympics from Aug. 28-Sept. 8.

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Ukrainian authorities raid home of billionaire Kolomoiskiy

2023-02-01T10:52:25Z

Ukrainian business tycoon Ihor Kolomoiskiy speaks with journalists on the sidelines of the Yalta European Strategy (YES) annual meeting in Kyiv, Ukraine September 13, 2019. REUTERS/Valentyn Ogirenko

Ukrainian state security officials searched the home of billionaire businessman Ihor Kolomoiskiy on Wednesday, in what several media outlets said was an investigation into possible financial crimes.

The Security Service of Ukraine (SBU) did not immediately reply to a request for comment about the reports, and Kolomoiskiy could not be reached for comment.

A senior governing party official confirmed Kolomoiskiy’s home had been searched – as well as that of a former interior minister – but did not state the reason for the search.

Photographs circulating on social media appeared to show Kolomoiskiy, dressed in a sweatsuit, looking on in the presence of at least one SBU officer inside a large wooden home. Reuters could not immediately verify the authenticity of the images.

Kolomoiskiy is one of Ukraine’s richest men and a one-time ally of President Volodymyr Zelenskiy, who launched a crackdown on wealthy businessmen known as “oligarchs” in late 2021 – before Russia launched its full-scale invasion.

Kolomoiskiy, who is from the central city of Dnipro and owns an array of assets including one of Ukraine’s most influential television channels, backed Zelenskiy’s election campaign in 2019.

Ukrainska Pravda said Wednesday’s search related to an investigation into the alleged embezzlement of oil products and evasion of customs duties, and that it was carried out by the SBU and the Economic Security Bureau of Ukraine.

Ukrainian anti-corruption officials are also investigating a case in which they suspect eight people of embezzling assets and funds from a state-controlled oil company formerly tied to Kolomoiskiy.

The United States sanctioned him in 2021 “due to his involvement in significant corruption”. U.S. authorities have also alleged Kolomoiskiy and a business partner laundered stolen funds through the United States. Kolomoiskiy has denied any wrongdoing.

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Boost for Ukraine as U.S. expected to send longer-range rockets

2023-02-01T10:34:09Z

News that the United States could soon send rockets nearly doubling the firing range of Ukrainian forces gave Kyiv a big lift on Wednesday, even as its troops were being pushed back by a relentless Russian winter offensive in the east.

Two U.S. officials said a new $2 billion package of military aid to be announced as soon as this week would for the first time include Ground Launched Small Diameter Bombs (GLSDB), a new weapon designed by Boeing. (BA.N)

The cheap gliding missiles can strike targets more than 150 km (90 miles) away, a dramatic increase over the 80 km range of the rockets fired by HIMARS systems which changed the face of the war when Washington sent them last summer.

It would mean every inch of Russian-occupied Ukraine, apart from most of the Crimea peninsula, could soon be in range of Ukrainian forces, forcing Moscow to shift some ammunition and fuel storage sites all the way back to Russia itself.

Ukrainian Presidential aide Mykhilo Podolyak said talks on the supply of the longer range missiles were under way, along with talks on attack aircraft. Kremlin spokesman Dmitry Peskov said the arrival of longer range U.S. weapons would escalate the conflict.

The expected U.S. announcement comes a week after Western countries pledged scores of advanced main battle tanks for the first time, a breakthrough in support aimed at giving Kyiv the capability to recapture occupied territory this year.

But the arrival of the new weapons is still months away, and in the meantime, Russia has gained momentum on the battlefield for the first time since mid-2022, in brutal winter fighting both sides describe as a meat grinder.

Moscow has announced advances north and south of the city of Bakhmut in recent days, its main target for months. Kyiv disputes many of those claims and Reuters could not independently verify the precise situation, but the locations of the reported fighting indicate incremental Russian advances.

Troops were fighting building to building in Bakhmut for gains of barely 100 metres (yards) a night, and the city was coming under constant Russian shelling, a soldier in a Ukrainian unit of Belarusian volunteers told Reuters from inside the city. Russian forces were manoeuvring to try to surround it.

Ukraine’s general staff said late on Tuesday its forces had come under fire in Bakhmut and the villages of Klishchiivka and Kurdyumivka on its southern approaches.

South of Bakhmut, Russia has also launched a major new offensive this week on Vuhledar, a longstanding Ukrainian-held bastion at the junction of the southern and eastern front lines. Kyiv says its forces have so far held there.

Having finally persuaded NATO countries to supply modern battle tanks, President Volodymyr Zelenskiy’s government has been lobbying hard for fighter jets. The United States and Britain have ruled out sending their own advanced fighters, but other countries have left the door open.

In Paris after meeting Ukrainian Defence Minister Oleksii Reznikov on Tuesday, French Defence Minister Sebastien Lecornu said “there was no taboo” about supplying Kyiv with fighter planes.

The West has so far refused to send weapons that could be used to attack deep inside Russia for fear of starting a wider conflict. Moscow nonetheless says Western pledges of weapons mean it is effectively at war with NATO.

Ukraine repelled a Russian assault on the capital Kyiv last year and took the offensive in the second half of 2022, recapturing swathes of occupied territory.

But its advances largely stalled since November, while Russia has been reconstituting its forces with hundreds of thousands of reservists mobilised for the first time since World War Two.

Capturing Bakhmut would be a step towards achieving Russia’s war aim of securing full control of Ukraine’s eastern Donetsk province. But Kyiv says the Russian gains of recent weeks are pyrrhic victories, bought with costly human waves of soldiers and mercenaries recruited from Russian prisons.

Russia launched its full-scale invasion of Ukraine in Feb. 2024, describing it as a “special military operation” to disarm its neighbour and reduce a security threat from Ukraine’s ties with the West. Kyiv and its allies call it an unprovoked assault to subdue the country and seize its land.

Related Galleries:

A car rides on an empty road near a frontline, amid Russia’s attack on Ukraine, in Donetsk region, Ukraine January 29, 2023. REUTERS/Viacheslav Ratynskyi

FILE PHOTO:A general view shows the front line city of Bakhmut, amid Russia’s attack on Ukraine, in Donetsk region, Ukraine January 26, 2023. REUTERS/Yan Dobronosov

Policemen help Arina, 6, dressed in children’s bulletproof vest and helmet during her evacuation from front line city of Bakhmut, amid Russia’s attack on Ukraine, in Donetsk region, Ukraine January 31, 2023. REUTERS/Oleksandr Ratushniak

A Ukrainian serviceman lays down during a shelling of Russian troops, amid Russia’s attack on Ukraine, in a frontline in Donetsk region, Ukraine January 30, 2023. REUTERS/Viacheslav Ratynskyi

Javeline anti-tank missiles are displayed on the assembly line as U.S. President Joe Biden tours a Lockheed Martin weapons factory in Troy, Alabama, U.S. May 3, 2022. REUTERS/Jonathan Ernst
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War’s longest battle exacts high price in ‘heart of Ukraine’

KYIV, Ukraine (AP) — It used to be that visitors would browse through Bakhmut’s late 19th century buildings, enjoy their walks in its rose-lined lakeside park and revel in the sparkling wines produced in historic underground caves. This city of salt and gypsum mines located around 100 kilometers (60 miles) from Russia’s border was once a popular tourist destination in eastern Ukraine’s Donetsk province.

No more. The longest battle of the war in Ukraine has turned Bakhmut into a ghost city. Despite bombing, shelling and attempts to encircle the city for six months, Russia’s forces have not conquered it. But their scorched-earth tactics have made it impossible for civilians to have any semblance of life there.

“It’s hell on earth right now; I can’t find enough words to describe it,” said Ukrainian soldier Petro Voloschenko, whose military call-sign is Stone, his voice rising with emotion and resentment.

Voloschenko, who is originally from Kyiv, arrived in the area in August when the Russian assault started and has since celebrated his birthday, Christmas and New Year’s there. The 44-year-old saw the city gradually turned into ruins, a wasteland of damaged buildings. Most of the houses are crushed, without roofs, ceilings, windows or doors, making them uninhabitable, he said.

Out of a prewar population of 80,000, a few thousand residents remain. They rarely see daylight because they spend most of their time in basements sheltering from the ferocious fighting around and above them. The city constantly shudders to the muffled sound of explosions, the whizzing of mortars and a constant sound track of artillery. Anywhere is a potential target.

The deterioration started during the summer after Russia took the last major city in neighboring Luhansk province. It then poured troops and equipment into capturing Bakhmut, and Ukraine did the same to defend it. For Russia, the city was one stepping stone toward its goal of seizing the remaining Ukrainian-held territory in Donetsk.

From trenches outside the city, the two sides dug in for what turned into an exhausting standoff as Ukraine clawed back territory to the north and south and Russian airstrikes across the country targeted power plants and other infrastructure.

The months of battle exhausted both armies. In the fall, Russia changed tactics and sent in foot soldiers instead of probing the front line mainly with artillery, according to Voloschenko.

Mykola Bielieskov, a research fellow at Ukraine’s National Institute for Strategic Studies, said the least-trained Russians go first to force the Ukrainians to open fire and expose the strengths and weaknesses of their defense.

More trained units or mercenaries from the Wagner Group, a private Russian military company led by a rogue millionaire and known for its brutality, make up the rear guard, Bielieskov said.

The Institute for the Study of War recently reported that Wagner forces have sustained more than 4,100 dead and 10,000 wounded, including over 1,000 killed between late November and early December near Bakhmut. The numbers are impossible to verify.

Ukrainian President Volodymyr Zelenskyy, in his recent address, described the situation in Bakhmut as “very tough.”

“These are constant Russian assaults. Constant attempts to break through our defenses” he said,

Bielieskov said that Ukraine compensates for its lack of heavy equipment with people who are ready to stand to the last.

“Lightly armed, without sufficient artillery support, which they cannot always be provided, they stand and hold off attacks as long as possible,” he said.

The result is that the battle is believed to have produced horrific troop losses for both Ukraine and Russia. Quite how deadly isn’t known: Neither side is saying.

“Manpower is less of a Russian problem and, in some ways, more of a Ukrainian problem, not only because the casualties are painful, but they’re often … Ukraine’s best troops,” said Lawrence Freedman, a professor emeritus of war studies at King’s College London.

Like Mariupol — the port city in the same province that Russia eventually captured after an 82-day siege that eventually came down to a mammoth steel mill where determined Ukrainian fighters held out along with civilians — Bakhmut has taken on almost mythic importance to its defenders.

“Bakhmut has already become a symbol of Ukrainian invincibility,” Voloschenko said. “Bakhmut is the heart of Ukraine, and the future peace of those cities that are no longer under occupation depends on the rhythm with which it beats.”

Donetsk was one of four provinces Russia illegally annexed in the fall, but it only controls about half of it. To take the remaining half, Russian forces have no choice but to go through Bakhmut, which offers the only approach to bigger Ukrainian-held cities since Ukrainian troops took back Izium in Kharkiv province in September, according to Bielieskov.

“Without seizure of these cities, the Russian army won’t be able to accomplish the political task it was given,” Bielieskov said.

For now, Bakhmut remains completely under the control of the Ukrainian army, albeit more as a fortress than a place where people would visit, work or love. This month, the Russians seized the town of Soledar, located less than 20 kilometers (some 12 miles) away, but their advance is very slow, according to military analysts.

“These are rates of advancement that do not allow us to talk about serious offensive actions. It’s a slow pushing out at a very high price,” Bielieskov said.

Along the front line on the Ukrainian side, emergency medical units provide urgent care to battlefield casualties. From 50 to 170 wounded Ukrainian soldiers pass daily through just one of the several stabilization points along the Donetsk front line, according to Tetiana Ivanchenko, who has volunteered in eastern Ukraine since a Russia-backed separatist conflict started there in 2014.

After its setbacks in Kharkiv and Kherson province in the south, the Kremlin is hungry for any success, even if it is just seizing a town or two that have been pounded into rubble. Freedman, the King’s College London professor emeritus, said the loss of Bakhmut would be a blow for Ukraine and offer tactical advantages to Russian forces, but wouldn’t prove decisive to the outcome of the war.

There would have been more value for Russia if it could have captured a populated and intact Bakhmut early on in the war, but now the capture would just give its forces options on how to seize more of Donetsk, said Freedman.

A 22-year-old Ukrainian soldier who goes by the call-sign Desiatyi, or Tenth, joined the army on the day that Russia started the full-scale war in Ukraine. After months spent defending the Bakhmut area, losing many comrades, he said he has no regrets.

“It is not about comparing the price and losses on both sides. It’s about the fact that, yes, Ukrainians are dying, but they are dying because of a specific goal,” said Desiatyi, who did not give his real name for security reasons.

“Ukraine has no choice but to defend every inch of its land. The country must defend itself, especially now, so zealously, so firmly, and desperately. This is what will help us liberate our occupied territories in the future.”

___

Follow AP’s coverage of the war in Ukraine: https://apnews.com/hub/russia-ukraine

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Exclusive: Zhevago’s Schemes Revealed – A Kyiv Post Investigation

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The noose is tightening on Kostyantyn Zhevago, one of Ukraine’s most prominent oligarchs, now awaiting an extradition hearing in France after his arrest.

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Nevada Ransomware Has Released Upgraded Locker

Nevada-Ransomware-Article-Featured-Image

Researchers from Resecurity have identified a new version of Nevada Ransomware which recently emerged on the Dark Web right before the start of 2023.

Resecurity, California-based cybersecurity company protecting Fortune 500 globally, has identified a new version of Nevada Ransomware which recently emerged on the Dark Web right before the start of 2023. The actors behind this new project have an affiliate platform first introduced on the RAMP underground community, which is known for initial access brokers (IABs) and other cybercriminal actors and ransomware groups.

Around February 1, 2023 – the group distributed an updated locker written in Rust for their affiliates supporting Windows, Linux and ESXi – this programming language has become a trend for ransomware developers these days (Blackcat, RansomExx2, Hive, Luna, Agenda). These updates have since provided improved functionality and significant tweaks to improve the affiliate panel. Another significant update has been identified around January 20th – which may confirm how the project is actively developing. The Nevada Ransomware offers very attractive and competitive conditions – 85% (to partner) with a further increase to 90% assuming further progress. On December 10th, 2022 – the actor ‘nebel’ published a post on the Dark Web describing the new project and then proceeded to invite new affiliates.

Notably, the actors also acquire compromised access for further development – it’s more than likely… besides being ransomware developers, they’re also a team performing post exploitation developing point of compromise into full blown network intrusion to achieve maximum damage. Resecurity® HUNTER (the threat research & intelligence team) published exclusive screenshots and details acquired as a direct result of the Nevada Ransomware affiliate network analysis. Part of this research is based on Human Intelligence (HUMINT) engagement with the actors responsible for inviting and vetting new affiliates.

Researchers found certain similarities with Petya Ransomware – notably Nevada Ransomware is also leveraging the Salsa20 encryption algorithm as well as a similar structure of the locker. According to experts, similar to early versions of Petya Ransomware, the code has some ‘flaws’ allowing some encrypted files to be decrypted. Researchers have shared their findings and described a possible concept that may be used for decryption.

Resecurity was able to gain access to the Nevada Ransomware affiliate panel hosted on the TOR network. In the report we can see the inner workings of the ransomware, the bad actors workspace provides a plethora of options, for example, communication with the victim, statistics, ransom balance and much more.

Resecurity acquired Linux-based and Windows versions of the Nevada Ransomware then published a reverse engineering report and indicators of compromise (IOCs). The experts expect an active development of the group in 2023 – by victims and by new affiliates who will join the project.

Follow me on Twitter: @securityaffairs and Facebook and Mastodon

Pierluigi Paganini

(SecurityAffairs – hacking, Nevada Ransomware)

The post <strong>Nevada Ransomware Has Released Upgraded Locker</strong> appeared first on Security Affairs.

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Elon Musk’s ‘funding secured’ tweet cost investors $12 billion over 10 days, jury reportedly told

Tesla has slashed prices in a bid to sell more cars.Musk is being sued by Tesla investors who claim they lost out after his cryptic 2018 tweet.

Getty Images

  • Elon Musk’s “funding secured” tweet cost Tesla investors $12 billion in just 10 days, a jury was told per Bloomberg.
  • Michael Hartzmark of Forensic Economics said investors who took both long and short positions were burned.
  • Musk is being sued after indicating in 2018 that he had funding in place to take Tesla private at $420 a share.

The “funding secured” tweet at the center of a lawsuit against Elon Musk cost Tesla investors $12 million in the space of 10 days, a jury was reportedly told.

Michael Hartzmark of Forensic Economics told a jury in a market manipulation trial against the Tesla CEO that his 2018 tweet, where he said he was considering taking the company private, did “consequential harm” to investors, per Bloomberg.

Musk is being sued by a group of investors who said his tweet caused huge losses for those holding both long and short positions on the stock, with his comments forcing wild fluctuations in its price. The $12 billion loss figure is attributed to all investors, rather than only those suing Musk, and not indicative of the damages being sought by plaintiffs.

After Musk’s tweet on August 7, which read “Am considering taking Tesla private at $420. Funding secured,” Tesla’s share price jumped 10%. It continued to rise, but fell back as the veracity of the tweet was interrogated and an investigation was opened by the SEC. 

It was reported that around the time that Tesla short sellers lost out on $3 billion as a result of the tweet. Those who took long positions were also burned when his claim came to nothing.

“Uncertainty is the kryptonite of investors,” Bloomberg reported Hartzmark as saying. “As this went drip, drip, drip over time it would have a negative impact” on the share price.

The Twitter owner has said he was confident his tweet about having funding secured was accurate based on conversations he had had with Yasir Al-Rumayyan, the governor of Saudi Arabia’s Private Investment Fund, who he said had “verbally” expressed support for the plan

Hartzmark argued the information Musk conveyed in his tweet was “material” to potential investors, as demonstrated by emails to the company’s investor relations office at the time of the post, per Bloomberg.

But the publication added Hartzmark was forced by Musk’s lawyer Andrew Rossman to accept that the first part of Musk’s tweet, that he was considering taking the company private, was accurate.

Tesla didn’t immediately respond to Insider’s request for comment.

Read the original article on Business Insider
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I make $3,000 a month renting out my backyard as a dog park. I spend 10 minutes a day on this easy side hustle that cost me nothing to set up.

Rick Powell, a 53-year-old man from Oregon with a dog in his backyard.All you need is a fenced-in yard to start making money on Sniffspot, Rick Powell told Insider.

Rick Powell

  • Rick Powell and his wife make $3,000 a month using Sniffspot to rent their yard out as a dog park.
  • The Powells started in 2021 hosting dogs and their owners in their Oregon backyard.
  • They spend 10 minutes a day managing bookings, and Rick loves the income security it provides.

This as-told-to essay is based on a conversation with Rick Powell, a 53-year-old IT manager from Tualatin, Oregon, about his dog-park side hustle. It has been edited for length and clarity. Insider has verified his revenue.

I’m a senior manager for an application-development team, but working in IT can be a feast or famine industry. I’ve lived through the dot-com bust, and I’m watching the mass layoffs happening at tech companies. Because of that instability, I’ve always looked for ways to supplement my income.

In 2019, I worked for Adidas. I was the senior manager for the North American network and connectivity. It did a restructuring, and I wasn’t happy with it. I quit and took the five-month severance package they offered.

I thought I’d be able to get another job quickly because I’d job-hopped easily in the past, but eight months later, I was still unemployed. 

I discovered Sniffspot on Craigslist

I was burning through my savings, so I began researching ways to make money. I found a Sniffspot ad on Craigslist.

Sniffspot is an Airbnb-like service for people who want to rent their backyards out as dog parks. If someone has a fenced-in yard, they can list it on Sniffspot, and dog owners can rent it by the hour.

We have a 5-acre backyard in Tualatin, Oregon, that’s completely fenced in, so I signed up. There’s no minimum land requirement, but Sniffspot suggests unfenced land of less than half an acre doesn’t perform well on the platform. 

I went to the “become a host” page, read the information about being a host, and signed up for free. I answered the standard questions about my backyard and uploaded our listing photos.

I was registered but didn’t start accepting guests 

Shortly after registering, I landed my current job as a senior application manager. 

We held off on Sniffspot because we weren’t sure we wanted people renting our backyard. But when COVID-19 hit, some friends mentioned they had no place to take their dogs because the dog parks were closed.

That made me think about our backyard and how much of a need there could be for dog owners. 

In March 2020, my wife and I went live with our listing and made $20 that first month. In April, we made $329 from word-of-mouth referrals, and my wife, a first-grade schoolteacher, and I were happy.

The dog owner is 100% responsible for cleanup

As hosts, our only responsibility is to ensure the renter knows how to access our backyard after booking. Only the people on the reservation can show up with their dogs, and Sniffspot provides $2 million of liability coverage. We charge guests $15 an hour to rent our backyard.

We slowly gained traction on Sniffspot via positive reviews and referrals. 

In October 2021, we created a membership program through Sniffspot for repeat guests. The memberships meant we could rely on consistent revenue each month.

The memberships start at $30 a month, and members get two hours each month. We have two other packages that give people a discount for booking more hours. They can book four hours for $66 a month and eight hours for $120 a month. 

In December 2021, we crossed $1,100 a month while working less than 2 hours a week on the side hustle

We started making little investments to improve our listing and increase revenue, such as purchasing a pavilion because it rains a lot in the Pacific Northwest. We put in more gates so owners could drive into the backyard, close the gate, and let their dogs run wild. 

We also met guests to build rapport. While it’s not required, I try to make guests feel comfortable with an initial hello and then leave them to enjoy their time alone with their dogs.

Sniffspot’s app is user-friendly, and we set up automated messages that walk guests through everything they need to know about getting into our backyard and what they can do once they’re in it. 

We spend about 10 minutes daily managing our bookings, and we usually have eight guests a day. I’ve spent zero dollars on advertising and don’t post on social media. All our growth has been organic. 

We have 64 paying members bringing in recurring revenue of $2,555 a month. Members get to pick a set time each month they want to book our backyard. Every day, the window between 7 a.m. and 12 p.m. is exclusively for members’ bookings. 

Sniffspot has enabled our family to make great passive income

Between the memberships and off-membership rentals, we average $3,000 a month.

I spend two hours a month ensuring no yard waste is missed and mowing the lawn. With the money we’ve made, we’ve remodeled our property. We also set money aside for our daughter, a freshman in high school, for her college fund. 

We’ve had an overall positive experience with renting out our backyard, but we did have a demanding guest that we asked not to come back. The guest was rude to our daughter, who sometimes helps out with guests. She wanted to drive into a part of the property that was not available. We asked them to find another Sniffspot.

Renting out my backyard as a side hustle has given me peace of mind

Renting out our backyard will always be only a side hustle for me because it can’t match the benefits I get from my career. But it’s good to know I’m fine if I lose my job. I have $3,000 a month coming in, and it’s passive.

Read the original article on Business Insider
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