‘Jackpot!’ How French police freed a cryptocurrency hostage whose finger was severed for ransom

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By JOHN LEICESTER, Associated Press

PARIS (AP) — Fearful that the kidnappers might sever another finger from their hostage or worse, the French police commander ordered his officers — with a radioed “Go” command — to raid the house where he suspected that the father of a wealthy cryptocurrency entrepreneur was being held.

Fabrice Gardon, director of Paris’ judicial police, then waited anxiously in his unit’s headquarters in the north of the French capital for the code word they use to signal that a hostage has been freed.

Finally, it came: “Jackpot!”

With seven suspects in custody, the police commander detailed in radio interviews Monday 58 hours of drama, mutilation and finally relief that marked the latest kidnapping in France of people working in the cryptocurrency business.

The victim was the father of a man who made his fortune in cryptocurrencies, the prosecutor’s office said.

Attackers wearing balaclavas bundled him into a van as he was coming out of his Paris house to walk his dog last Thursday morning, Gardon said. He said bystanders alerted police.

Speaking to RTL radio, he confirmed French media reports that the kidnappers severed one of the hostage’s fingers. He said they sent a video to his son of the mutilation and other video of his father tied up, and demanded millions of euros (dollars) in ransom.

On Saturday night, police tracked the gang to a house in the Essonne region south of Paris, where investigators believed the man was being held.

“We got there a few minutes before a new ultimatum where the victim might again have suffered another mutilation,” Gardon said.

He gave the go-ahead for an assault by a police Search and Intervention Brigade, known by its French initials, BRI. He then followed its progress over the radio from the judicial police headquarters.

“After a few moments, the head of the BRI said over the radio – using what’s our code – ’Jackpot!” In our jargon that means, ’All good. We have freed the hostage,’” he said on France Info radio.

“Obviously, it was a big relief,” he said.

The prosecutor’s office said police detained four people in or close to the house where the man was held captive, and a fifth person at the wheel of a vehicle thought to have been used for the alleged abduction.

Another two suspects were detained Sunday, it said.

It said the police investigation is looking at an array of possible criminal charges, including kidnapping “with torture or a barbaric act.”

In January, police said a co-founder of French crypto-wallet firm Ledger, David Balland, was also kidnapped with his wife from their home in the Cher region of central France.

Police said they made 10 arrests and that the alleged kidnappers demanded a ransom in cryptocurrency from another of Ledger’s co-founders.

A raid by France’s elite National Gendarmerie Intervention Group unit that specializes in hostage situations freed Balland the next day, followed the day after that by the liberation, again by the GIGN, of his wife, found tied up in a vehicle, police said.

Trump administration says it’ll pay immigrants in the US illegally $1,000 to leave the country

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By REBECCA SANTANA

WASHINGTON (AP) — The Trump administration says it is going to pay immigrants in the United States illegally who’ve returned to their home country voluntarily $1,000 as it pushes forward with its mass deportation agenda.

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The Department of Homeland Security said in a news release Monday that it’s also paying for travel assistance and that those people who use an app called CBP Home to tell the government that they plan to return home will be “deprioritized” for detention and removal by immigration enforcement.

“If you are here illegally, self-deportation is the best, safest and most cost-effective way to leave the United States to avoid arrest. DHS is now offering illegal aliens financial travel assistance and a stipend to return to their home country through the CBP Home App,” Secretary Kristi Noem said.

President Donald Trump has made immigration enforcement and the mass deportation of immigrants in the U.S. illegally a centerpiece of his campaign, but that is a costly, resource-intensive endeavor.

While the Republican administration is pushing Congress for a massive increase in resources for the Immigration and Customs Enforcement department responsible for removing people from the country, it’s also pushing people in the country illegally to “self-deport.”

Wall Street loses ground and oil prices tumble after OPEC+ says it will step up production

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By DAMIAN J. TROISE, Associated Press Business Writer

NEW YORK (AP) — Stocks fell in morning trading on Wall Street Monday and oil prices fell to a four-year low as the OPEC+ group announced plans to boost output.

The S&P 500 fell 0.7%. The benchmark index is coming off of its ninth straight gain.

The Dow Jones Industrial Average fell 164 points, or 0.4% as of 9:56 a.m. Eastern time. The Nasdaq composite fell 0.8%.

The losses were broad. Roughly 75 percent of stocks and every sector within the S&P 500 lost ground.

Berkshire Hathaway fell 5.5% for one of the market’s bigger losses. Legendary investor Warren Buffett announced over the weekend that he would step down as CEO by the end of the year after six decades at the helm. He will remain chairman of the board of directors.

The OPEC+ group of eight oil producing nations announced over the weekend that it will raise its output by 411,000 barrels per day as of June 1. U.S. benchmark crude oil fell as much as 4% overnight before moderating.

U.S. crude oil prices fell 1.5% to $57.42 per barrel. Many producers can no longer turn a profit once oil falls below $60. Prices are down sharply for the year over worries about an economic slowdown. Energy companies fell. Exxon Mobil lost 2.4%.

Markets are coming off another winning week as they absorb the shock of tariffs and a growing trade war. President Donald Trump has imposed tariffs on a wide range of imports, sparking global retaliation. Many of the more severe tariffs that were supposed to go into effect in April were delayed by three months, with the notable exception of tariffs against China.

The delays have provided some relief to Wall Street, though uncertainty about the impact from current and future tariffs continues to hang over markets and the economy. That uncertainty will overshadow the Federal Reserve’s meeting this week.

The Fed is expected to hold its benchmark interest rate steady on Wednesday. It cut the rate three times in 2024 before taking a more cautious stance. The central bank was concerned that inflation, while easing, was still stubbornly hovering just above its target rate of 2%. Concerns about inflation reigniting have only grown amid the global trade war sparked by Trump’s tariff policy.

Trump’s rapidly shifting policies on trade have kept the central bank and markets on edge. Tariffs have been imposed, only to be pulled or delayed, sometimes on a daily basis. The on-again-off-again approach has left businesses, households and economists at a loss in trying to forecast where the economy might be headed and to plan accordingly.

Treasury yields were relatively stable. The yield on the 10-year Treasury rose to 4.32% from 4.31% late Friday.

AP business writers Jiang Junzhe and Matt Ott contributed to this story.

St. Paul elections: 3 mayoral candidates, citations question, Ward 4 race

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St. Paul Mayor Melvin Carter faces two declared challengers in the November election, which also will feature a ballot question on giving city officials the authority to issue administrative citations.

Meanwhile, a declared candidate has dropped out of this summer’s race for the Ward 4 seat on the city council.

One thing St. Paul voters can’t count on this summer? Political endorsements from the St. Paul DFL, which has no plans to host caucuses or a Ward 4 endorsing convention this year, according to party treasurer Rick Varco.

The St. Paul DFL is in the midst of rebuilding its leadership roster and discussing how to adjust its constitution in advance of the city’s upcoming shift to even-year municipal elections, a change that city voters approved at ballot last November, and won’t be devoting resources to caucuses and conventions this summer.

Other parties may weigh in. Twin Cities DSA, a chapter of the Democratic Socialists of America, has already endorsed Cole Hanson in the Ward 4 race, well in advance of campaign filings.

Carter announced in January he would seek a third term. The mayor, whose progressive agenda has included college savings accounts for St. Paul newborns and a new sales tax to support roads and parks, won both of his previous four-year terms on the first ballot of each ranked-choice election.

In 2021, Carter received more than 61% of the vote in an eight-way race.

Two mayoral challengers

Those numbers haven’t stopped declared challengers Yan Chen, a biophysicist at the University of Minnesota, and Mike Hilborn, who runs a power-washing and snowplowing company.

Yan Chen. (Courtesy of the candidate)

Chen, who previously ran for the Ward 1 seat on the St. Paul City Council, has released a series of videos on her campaign website, yanchenmn.com, analyzing what she describes as the unsustainable course of the city’s finances and rising property taxes.

She also plans videos criticizing the mayor’s decision to endorse rent control before the policy was approved at public ballot in 2021, as well as his handling of the citywide garbage contract. A landlord, she rents out five single-family homes in St. Paul.

Mike Hilborn. (Courtesy of the candidate)

Hilborn, who previously ran for state representative representing the downtown area, lists a series of one-sentence campaign promises on his website, hilbornforstpaul.com, pledging without further elaboration that he can cut the city’s property taxes by 50% while doubling the size of the city’s police force. He also lists among his priorities “no boys in girls sports” and that he supports “school choice/school vouchers.”

The filing period for the mayoral election is July 29 to Aug. 12, and additional candidates may yet join the pool. The election will be ranked choice, meaning there will be no political primary to whittle down the field, and voters will be allowed to choose more than one candidate in order of preference.

As a result of a petition drive led by financial analyst Peter Butler, the Nov. 4 ballot will also feature a question regarding amending the city charter to allow administrative citations, or non-criminal fines for violations of city ordinances.

Carter and the city council have called for giving the council the power to create various fine schedules for ordinance infractions, as other cities in the metro already do to varying degrees. Butler and other critics have questioned whether the city will attempt to raise badly-needed revenue for the city budget through excess enforcement.

Ward 4 race tightens

The race for the open Ward 4 seat on the city council has already tightened, even though the filing period doesn’t open until later this month.

Cristen Incitti, president and chief executive officer of Habitat for Humanity Minnesota, has pulled out of the Ward 4 contest and endorsed fellow candidate Molly Coleman, a nonprofit founder and daughter of former mayor Chris Coleman.

Also running are school board member Chauntyll Allen and Hanson, a public health worker who previously served as chair of the Hamline-Midway Coalition. The ward, which centers around the Midway, spans all or parts of St. Anthony Park, Hamline-Midway, Como, Merriam Park and Macalester Groveland.

The Ward 4 filing period is May 20 through June 2, and the special election will be held Aug. 12.

Previous Ward 4 Council Member Mitra Jalali resigned her seat in February, and the mayor appointed Matt Privratsky as her interim replacement last month after the council failed to muster enough votes to choose someone on their own.

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