Newborn Investment Accounts Proposed in Federal Legislation

A new federal proposal aims to provide every newborn American child with a tax-deferred investment account seeded with a $1,000 government contribution. The initiative, part of a broader legislative package, is designed to promote long-term financial security and early market participation.

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Indian Chemical Companies and Executive Indicted in U.S. for Alleged Fentanyl Precursor Distribution

Two Indian chemical companies, Rexter Chemicals and Ethos Chemicals, have been indicted in the United States for allegedly smuggling fentanyl precursor chemicals. Fentanyl, a synthetic opioid, is associated with a significant number of overdose deaths in the U.S.

Bhavesh Jha, a founder and senior executive of Rexter Chemicals, was arrested in New York City on January 4, 2025. He has been charged with conspiracy to illegally import and distribute fentanyl precursor chemicals from India to the United States and Mexico. The indictments allege that Rexter Chemicals and Jha were involved in the distribution and importation of chemicals used in fentanyl production. Ethos Chemicals faces similar charges for allegedly agreeing to supply large quantities of fentanyl precursor chemicals to drug traffickers in Mexico with ties to organized crime.

According to court documents, Rexter Chemicals allegedly shipped a package containing fentanyl precursor chemicals but falsely labeled it as vitamin C. In another instance, Ethos Chemicals is accused of agreeing to supply 100 kilograms of fentanyl precursor chemicals to a known drug trafficker in Mexico. The indictments further allege that the defendants used deceptive practices, such as mislabeling shipments and falsifying customs forms, to evade detection.

If convicted, Jha could face a maximum sentence of 53 years in prison. The case is part of ongoing efforts by U.S. authorities to address international fentanyl trafficking and disrupt supply chains contributing to opioid-related fatalities. All defendants are presumed innocent until proven guilty in a court of law.

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