1 week Ago By Associated Press
The former CEO of Abercrombie & Fitch is suffering from dementia and isn’t competent to stand trial on sex trafficking charges, according to prosecutors and his lawyers.Michael Jeffries requires round-the-clock care because the 80-year-old has Alzheimer’s disease, Lewy body dementia and the “residual effects of a traumatic brain injury,” defense attorneys wrote in a letter filed Thursday in a New York federal court, citing recent evaluations by medical professionals.Prosecutors and defense lawyers want a federal judge in Central Islip to place Jeffries in the custody of the federal Bureau of Prisons for up to four months so that he can be hospitalized and receive treatment that might allow his criminal case to proceed.
Jeffries has been free on a $10 million bond since pleading not guilty in October to federal sex trafficking and interstate prostitution charges.Freak sell-off of ‘safe haven’ US bonds raises fearsThe upheaval in stocks has been grabbing all the headlines, but there is a bigger problem looming in another corner of the financial markets that rarely gets headlines: Investors are dumping U.S.
government bonds.Normally, investors rush into them at a whiff of economic chaos but now not even the lure of higher interest payments on the bonds is getting them to buy. The freak development has experts worried that investors are losing faith in America as a good place to store their money.
That could be bad news for consumers in need of a loan _ and for President Donald Trump, who had hoped his tariff pause earlier this week would restore confidence in the markets..
