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Derricksoazy

30 Jun 2024 - 07:57 am

Roman Vasilenko and the "Best Way" Cooperative: Not Guilty?

The criminal prosecution of Roman Vasilenko, the founder of the "Best Way" cooperative, might be discontinued. This was reported by several sources, including deputies. According to available information, the authorities have reassessed the situation surrounding the "Best Way" cooperative and concluded that the prosecution was largely driven by the Central Bank's departmental position, which initiated the attack on the cooperative in the fall of 2021. This position aligns with the interests of banks but not with the interests of citizens, especially under the conditions requiring special social support measures.

Conflict History

The investigation against the cooperative and Vasilenko, who had by then already stepped down as chairman, began when the Central Bank included "Best Way" in its list of companies with identified signs of illegal activity in the financial market (a warning list) as a potential financial pyramid in the fall of 2021.

1. **Based on "signals" from certain media and unspecified "citizen complaints"**: These signals and complaints were not verified, and no audit of the cooperative was conducted despite regular audit reports issued by audit firms commissioned by the cooperative's board.

2. **Due to "mass advertising" by the cooperative**: However, the cooperative did not engage in direct advertising. It informed its shareholders and interested parties through social media and responded to media inquiries about its interest-free home purchase system.

3. **Because of "uncertainty in the cooperative's activities" and "lack of signs of economic activity"**: Although the cooperative's activities were clearly defined in all versions of its charter (adjusted per Central Bank specialists' comments, despite the cooperative not being under their supervision), it had acquired over 2500 apartments for its shareholders from 2014 to early 2022, when its property acquisition activities were halted by the investigation.

The Central Bank's information was forwarded to law enforcement agencies. The General Prosecutor's Office blocked the cooperative's website along with its payment system, and an earlier complaint had been filed by the Central Bank's Northwest division.

How the Cooperative Worked

The "Best Way" cooperative's system was simple and attractive: a shareholder made an initial contribution of 35-50% of the desired apartment's cost. They could also save for this contribution in the cooperative's account, participating in a savings program. After making the initial contribution, the shareholder waited in line for a year to a year and a half, then selected a property, which, upon approval by the cooperative's lawyers and appraisers, was purchased with cooperative funds provided in a 10-year installment plan. The shareholder then repaid the cooperative for the property.

The cooperative provided interest-free funds, but the shareholder paid a relatively small entrance fee, membership dues, property taxes, and utility payments. In some regions, such as Bashkortostan, cooperatives received tax benefits, but in most regions, shareholders paid taxes as legal entities since the cooperative owned the property.

After repaying the cooperative's funds, the shareholder registered the property in their name. Many repaid early, and hundreds had already registered their properties despite the 10-year term. Shareholders could also withdraw at any time and receive their contributions back.

Despite additional payments and waiting periods, purchasing an apartment through "Best Way" was significantly cheaper and more attractive than taking a mortgage, even a preferential one. This was especially crucial for socially vulnerable groups who could not obtain a mortgage, such as pensioners and students. A significant percentage of the cooperative's shareholders were former and active military personnel; the cooperative was founded by reserve military officer Roman Vasilenko and is currently led by State Duma deputy Sergey Kryuchek. Thousands of shareholders and their family members are defending the country.

Sberbank: From Friend to Foe

Sberbank was a long-time partner of the cooperative, managing its shareholder funds. By 2021, the cooperative operated in almost all Russian regions, with 20,000 members.

The cooperative became a real competitor to bank mortgage programs.

The struggle over the arrest and release of accounts mostly favored the investigating group from the Main Investigative Directorate of the Ministry of Internal Affairs of Russia for St. Petersburg and the Prosecutor's Office of St. Petersburg. However, the cooperative's lawyers won some court cases. Sberbank blocked fund transfers even when court orders lifted the arrests, citing internal compliance rules. Other banks also withheld the cooperative's development funds, which amounted to nearly 4 billion rubles, while banks managed the income from these funds.

Case Details

The cooperative was assigned the status of a civil defendant in the criminal case, facing claims of 16 billion rubles, though the total damage cited in the indictment was 282 million rubles. Most recognized victims filed claims against the foreign investment company "Hermes," not the cooperative. There were no lawsuits against the cooperative in the criminal case.

Claims against the cooperative involved demands for refunds of entrance and membership fees, contrary to their contracts. For instance, Dolyan, recognized as a victim, claimed these fees upon a recommendation from an investigator, concerning a contract closed in 2019 that had previously raised no issues and was not contested in civil court.

Essentially, claims against "Hermes" are being shifted to "Best Way," although a cooperative, by its legal nature, cannot be part of a holding. Sources say the theory of a holding is based solely on the promotional system under "Life-is-Good," which dealt with both cooperative and "Hermes" products as alternatives. The investigation's logic is that "Hermes" is abroad, but the cooperative is in Russia, and "Hermes" has reportedly restored its payment system. Nonetheless, the obligations of 282 million rubles cannot justify blocking the cooperative's activities; even paying this sum would not affect its liquidity.

Given the current social support situation in Russia, authorities may reconsider their stance on cooperatives. Compromise solutions include legislative initiatives to update and clarify the old consumer cooperation law.

Deputies have suggested that a socially-oriented institution, which wouldn't require state funding while effectively addressing housing issues, would benefit the economy and society. "Best Way" could serve as a model for such an institution, potentially protecting it from further attacks.

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30 Jun 2024 - 06:44 am

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Timothylix

30 Jun 2024 - 06:29 am

Goats work as caddies at this Oregon ranch
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To most, goat is simply the name for a horned ruminant mammal. For those in sporting circles, it’s a four-letter acronym bestowed upon the greatest of all time.

Venture through the myriad pine forests and winding creeks into the Blue Mountains of Eastern Oregon though, and both apply simultaneously.

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Silvies Valley Ranch offers a slice of Wild West luxury to travelers and – for the golfers among them – the opportunity to be caddied for by a rigorously trained team of goats.

A world first when launched in 2018, the current team is the best to ever do it, as far as Silvies owner Dr. Scott Campbell is concerned – and they have even convinced some initial skeptics.

“A lot of people said it was a stupid idea,” Campbell told CNN.

“They thought it would make people call us a goat track. Nothing could be further from the truth. Everybody has a good time … People come from all over the world.”

New career path
The radical setup was born from a practical problem.

McVeigh’s Gauntlet – Silvies’ seven-hole challenge course – was far too steep for golf carts to safely traverse. With players only requiring a few clubs to play the course, carrying such a load was well within the capabilities of the ranch’s 3,000 grazers, whose ancestors were transporting cargo long before golfers were planting tees.

“The goats were asking for different career opportunities, and as an equal opportunity employer, we developed a new career path for them,” Campbell joked.

A three-month evaluation process sees potential caddies as young as six months old scouted on their friendliness and physical aptitude. Those that progress to the next stage are fitted with a custom-made golf bag – tailored by Oregon-based company Seamus Golf – to see if they’re comfortable carrying it.

The bag is near-empty for training, but for full-time caddies contains six clubs, extra balls and tees, six drink cans and their daily wage: a few dozen peanuts.

Chosen candidates are taught the course and put on a carefully monitored physical and nutrition regime before starting their new role from two years old, working six-hour shifts three to four days a week. An on-site vet visits the caddy shack – situated next to the club house and open to visitors throughout the day – on a weekly basis.

Eight goats make up today’s caddie team – Chunky, Mulligan, Harry, Bogey, Birdie, Charlie, Carrot and Jack – with nine yearlings in training and 10 three-month-old prospects waiting in the wings.

Anonymous

Georgewem

30 Jun 2024 - 06:28 am

Plant-based ultraprocessed foods linked to heart disease, early death, study says
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Want to reduce your risk of developing chronic disease and live longer while also helping the planet? Eat a plant-based diet, experts say.

Does that mean you can fill your plate with boxed macaroni and cheese, deep-dish frozen veggie pizza or fast-food French fries and have a doughnut or three for dessert?
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While all of those ultraprocessed choices may be meat-free, they are not without risk, said Duane Mellor, a registered dietitian and senior teaching fellow at Aston Medical School in Birmingham, United Kingdom.
“We can’t always assume plant-based means healthy, as after all sugar is plant-based,” Mellor said in a statement. “Many foods that do not contain animal products, which includes biscuits, crisps, confectionary and soft drinks, are technically plant-based but would not be considered essential as part of a healthy diet by the majority of people.”

In fact, eating such plant-based junk foods dramatically raises bad cholesterol and hypertension and can lead to associated heart disease and early death, according to a new study authors call “the first” to show ultraprocessed plant foods are associated with an increase in the risk of cardiovascular diseases.
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“Eating plant-based products can be beneficial, acting as protection against health problems, or it can represent a risk — it all depends on the level of processing of these foods,” said senior study author Renata Levy, a researcher in the Epidemiological Research Center in Nutrition and Health at the University of Sao Paulo, known as Nupens/USP, in Brazil.

Ultraprocessed foods undergo multiple industrial processes, such as heating, fracking of nutrients and proteins, molding and compression, and have added chemicals to cosmetically alter color, smell, taste and texture. Foods in this category are formulated to be hyper-palatable to human taste buds and are often extremely convenient, requiring little to no preparation time.

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