Nigerian President Markets Nigerian Youth To Mastercard Chief Executive
President Bola Ahmed Tinubu, on Tuesday in Abuja, said Nigeria’s teeming youth population remains the nation’s greatest asset, assuring foreign investors that the ready-to-learn and tech-savvy workforce can easily integrate into the global market.
Tinubu, who received a delegation from Mastercard led by the Global Chief Executive Officer, Michael Miebach, at the State House, welcomed the company’s proposal to train five million businesses and equip them with digital skills.
The President said the Nigerian economy had been repositioned and stabilised to fully participate in the global economy, with a focus on empowering youths and small businesses with digital skills and tools.
The President noted that the ongoing formalisation of Nigeria’s largely informal small-business sector will create more opportunities for digital transitions, investments, employment, and growth.
“I am glad that you are very familiar with the terrain. I can classify you as a Nigerian. MasterCard has a very big reputation in financial management, and opportunities are spreading in Nigeria,’’ he added.
President Tinubu noted that the business orientation is gradually changing, with more small businesses registering and embracing technology.
The President assured that more Nigerian youths will be empowered with digital skills to tackle present and future challenges.
“The most important asset is our youth. I missed one thing in your remark: whether you met with the Bank of Industry (BOI). BOI has a database of Micro, Small, and Medium Enterprises.
“Payment plans and platforms are very necessary for the inclusion of small and medium-scale businesses.
“What you have been doing with our young population is commendable, and we will continue to support that in every form. As the host country, the agreements we have with you are valid, and I want you to see us as partners,’ he added.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the economic reforms have provided opportunities for integration, particularly in credit and payment systems.
“You do more than payments, and that includes the work which you are doing in Nigeria through the MasterCard foundation to support and strengthen small businesses and the informal sector.
“This aligns well with the reforms of Mr President in different areas, cutting across the public and private sectors, including the ongoing efforts to digitise government services. We aim to enhance and empower at least 3 million youths in Nigeria.
“We are creating opportunities for work within the digital economy, the formalisation of the very large informal sector that we have in Nigeria. One of the major reforms by Mr President in fiscal and tax matters has led to more than 10,000 informal businesses applying for registration every day over the past few months.
“This speaks to the opportunities that abound in Nigeria for organisations like MasterCard,’’ he noted.
The minister said the President’s policy also cuts across the credit economy, including mortgages, personal loans, consumer credit, auto loans, small-business credit, and student loans.
Oyedele noted significant opportunities in the credit economy for MasterCard to improve payment systems in Nigeria and across Africa, such as using the naira for swaps without third currencies. He added that five of the nine fintech unicorns are in Nigeria.
Miebach assured the President of the company’s support in implementing the economic reforms.
“We have a business here since 2011, and we have seen the country grow, and we have seen the country lead. We have seen your obviously clear alignment of fiscal and monetary policy that you have driven. In our world systems, there is a lot of momentum in Nigeria.
“A little anecdote: I was the one who set up the Master Card business in Nigeria in 2011. I was in Lagos, and hired the employee number one. So it’s a little bit like coming home.
“It’s been a long-standing history, and today we facilitate a big aspect of the economy. In Nigeria, we are preventing $200 million in fraud and bringing in $2 billion in foreign exchange. We are helping the SME sector thrive and, of course, partner with your banks.
“We recognise the moment that we are in. We spent time with the CBN Governor and had an opportunity to meet the leading bankers yesterday in Lagos, to see where everything is going and the opportunity here to unlock the power of the 40 million SMEs in Nigeria, to really connect the diaspora to the homeland and ensure Nigeria is the most thriving and biggest economy on the continent.
“We want to drive the intra-African digital economy,’’ he said.
Miebach noted that Mastercard has already created the framework and platform to empower 40 million small businesses in Nigeria with digital skills.
“Many small businesses would like to have a digital part of their business, and they don’t know how to do that. Capacity building of small businesses vis-a-vis just opening a shop and keeping them safe in a cyber-world,’’ the MasterCard CEO added.
“We have a three-year programme for small businesses. A technical workshop has been planned for this, so it is not just talk but action and impact,’’ he said.
Miebach assured the President of investments in inclusivity, participation, trust, and resilience in a digital world, as well as a Cyber Centre of Excellence that captures and shares threat intelligence, incident response, AI risks, and other emerging risks.
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LPPC suspends Mike Ozekhome from SAN rank
by
Bolanle Olabimtan
June 24, 2026 8:38 pm
Ozekhome
Mike Ozekhome | File photo
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The Legal Practitioners’ Privileges Committee (LPPC) has suspended Mike Ozekhome from the rank of senior advocate of Nigeria (SAN) pending the conclusion of disciplinary proceedings against him.
In a statement issued on Wednesday, Kabir Akanbi, chief registrar of the supreme court, said the decision was taken at the committee’s 173rd general meeting held on June 23.
The LPPC said the suspension was approved pursuant to paragraph 26(6) of the guidelines for the conferment of the rank of senior advocate of Nigeria and all matters relating to the rank.
According to the committee, the suspension will remain in force pending the final determination of disciplinary proceedings before its disciplinary and ethics sub-committee, as well as other related proceedings.
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“The suspension is intended to safeguard the integrity, dignity, and prestige of the rank of Senior Advocate of Nigeria while due consideration is given to the matters under review,” the statement reads.
“Accordingly, Chief Mike Ozekhome shall refrain from parading himself, presenting himself, or otherwise holding himself out as a Senior Advocate of Nigeria pending the final determination of the disciplinary proceedings.”
Ozekhome is standing trial alongside Ponfa Useni, son of the late Jeremiah Useni, a former minister of the Federal Capital Territory (FCT), for allegedly using a fake Nigerian passport in a disputed property case in the United Kingdom (UK).
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The duo was arraigned on a 12-count charge before Chizoba Oji, judge of the FCT high court in Maitama in February.
They pleaded not guilty to all the counts and were subsequently granted bail in the sum of N10 million each, with one surety in like sum. The sureties own properties within the FCT.
The controversy centres on a property located at 79 Randall Avenue, London NW2 7SX.
Ozekhome and Jeremiah Useni, a retired lieutenant-general who is now deceased, are named in the property dispute.
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The case was filed at the first-tier tribunal (Property Chamber) land registration, UK, under case number REF/2023/0155, with Tali Shani as the applicant and Ozekhome as the respondent.
The property had been claimed by one “Ms Tali Shani” on one hand and Ozekhome on the other.
Ozekhome said he received the house as a gift from “Mr Tali Shani” in 2021, while lawyers for “Ms Shani” insisted she was the rightful owner.
A witness known as “Mr Tali Shani” testified in favour of Ozekhome, claiming that he had “powers of attorney” over the property and had transferred the property to the respondent (Ozekhome).
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Mr Tali Shani asserted ownership of the property from 1993 and claimed he later appointed Useni as his property manager, describing Useni as an “elder friend and business partner”.
On the other hand, several documents, including an obituary announcement, NIN card, ECOWAS passport, phone number, etc were tendered by witnesses of “Ms Tali Shani” to claim ownership of the property.
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However, the tribunal found all the documents tendered for “Ms Tali Shani” to be fake. The tribunal subsequently dismissed all claims, ruling that neither “Mr” nor “Ms” Tali Shani existed.
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Terrorism: Sokoto High Court Impose Death Penalty on Three Including a Foreigner Arrested by DSS.
A High Court sitting in Sokoto State has sentenced three men, including a foreign national, to death by hanging, following their conviction on charges bothering on terrorism and arms proliferation.
The convicts, Yusuf Muhammad (alias Sallau), a Nigeriene, Jabbi Alhaji Yalle, and Kabiru Muhammad were apprehended on 13th June, 2025, by the Department of State Services Counter Terrorism Unit in connection with cross-border criminal activities bordering on arms trafficking and terrorism.
The case, marked SS/45c/2026, was presided over by Justice Muhammad Nuraddeen Bello of High Court No. 23, Sokoto.
Delivering judgment, Justice Bello found all three defendants guilty as charged and sentenced them to death by hanging. The court also ordered the forfeiture of all monetary exhibits recovered from the convicts to the Federal Government.
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Senate Passes State Police Bill, empowers Govs to appoint Police Commissioners by adenigga(op): 6:26pm
The Senate has passed the constitutional amendment bill establishing state police, marking a major step toward decentralising Nigeria’s policing system. The legislation empowers state Governors to appoint Commissioners of Police, subject to confirmation by their respective state Houses of Assembly.
The bill also bars state police from targeting individuals or groups for criticising the government and provides safeguards against political abuse. The proposal must still secure approval from at least two-thirds of state assemblies before becoming part of the Constitution.
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Three Key Takeaways from the Senate Emergency Sitting
During today’s emergency plenary at the Senate, [b]we concluded legislative consideration and passed the Bill for an Act to Alter the Constitution of the Federal Republic of Nigeria 1999 to Provide for the Estab[/b]lishment of State Police and for Related Matters (Sixth Alteration), 2026.
The passage of the landmark legislation which came as an executive bill transmitted to the Senate by President Bola Ahmed Tinubu, GCFR, followed the consideration and unanimous adoption of the report of the Senate Committee on Constitution Review under my chairmanship on the bill.
I moved the motion for the presentation and consideration of the report which was seconded by distinguished Senator Kamarudeen Olarele. I had noted that, given the inclusivity of the bill, it was necessary to carry along all stakeholders involved. This is a bill on amending the Constitution to create a dual police structure for the Federation.
After the passage by both chambers (Senate and House of Representatives), it will then be sent to the 36 State Houses of Assembly for their concurrence.
The passage of this bill is a testament to the resolve of the Senate to decentralise and reset our security and policing architecture to effectively combat all forms of challenges in all parts of the country.
The Senate also passed for the third reading, the Police Trust Fund Act (Repael and Re-enactment) Bill, 2026.
Earlier, Senate President Godswill Obot Akpabio, GCON administered the oath of office and allegiance to four newly elected Senators.
The new lawmakers are; Senator Halilu Danladi Envulu-Anza (APC, Nasarawa North), Senator Ikeje Asogwa (APC, Enugu North), Senator Dayo Faduyile (APC, Ondo South) and Senator Olaka Nwogu (PDP Rivers South-East)
The new Senators won by-elections conducted by the Independent National Electoral Commission (INEC) on Saturday to fill vacancies in four Senatorial Districts.
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Barau Jibrin
Deputy Senate President
ourt Imposes Death Penalty On Three, Including Foreigner Arrested By DSS by Richtaiwo(op): 4:55pm
A High Court sitting in Sokoto State has sentenced three men, including a foreign national, to death by hanging, following their conviction on charges bordering on terrorism and arms proliferation.
Justice Bello found all three defendants guilty as charged and sentenced them to death by hanging. The court also ordered the forfeiture of all monetary exhibits recovered from the convicts to the Federal Government.
The convicts, Yusuf Muhammad (alias Sallau), a Nigerien; Jabbi Alhaji Yalle; and Kabiru Muhammad, were apprehended on 13th June, 2025, by the Department of State Services (DSS) Counter Terrorism Unit in connection with cross-border criminal activities bordering on arms trafficking and terrorism.
https://www.channelstv.com/2026/06/24/terrorism-court-imposes-death-penalty-on-three-including-foreigner-arrested-by-dss/
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NPFL Prize Money Increased To ₦1 Billion, From ₦200 Million by ikorodureporta(op): 1:13pm
NSC increases NPFL prize money to N1bn, sets N2m minimum wage for players
The champions of the next season of the Nigeria Premier Football League (NPFL) will receive a minimum prize money of N1 billion — up from the previous amount of N200 million.
According to NAN, Shehu Dikko, the chairman of the National Sports Commission ( NSC), announced the new prize money on Tuesday in Abuja.
Dikko was in a meeting with top officials of the Nigeria Football Federation (NFF), and they also agreed to introduce a minimum wage of N2 million for NPFL players.
“A major highlight of the meeting was that the champions of the 2026/27 NPFL season will receive a minimum prize money of ₦1 billion,” the NSC chairman said.
“The runners-up will receive ₦500 million, while the third-placed team will earn ₦300 million, subject to official confirmation by league authorities.
Dikko described the new prize structure as part of broader efforts to improve the commercial value, professionalism, and competitiveness of the domestic league.
“I want to thank the NFF President, Ibrahim Gusau, and the General Secretary, Dr Mohammed Sanusi, for a very productive engagement.
“ The issues discussed today are fundamental to the growth and development of Nigerian football.
https://www.thecable.ng/nsc-increases-npfl-prize-money-to-n1bn-sets-n2m-minimum-wage-for-players/
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Anambra LG Chairman Sentenced to Five Years in U.S. Prison Over $3.5 Million Romance Scam
The Chairman of Ogbaru Local Government Area in Anambra State, Franklin Ikechukwu Nwadialo, has been sentenced to five years in prison in the United States after being convicted for his role in an online romance fraud scheme that defrauded eight victims of more than $3.5 million.
The sentence was announced by First Assistant U.S. Attorney Charles Neil Floyd following proceedings before the U.S. District Court.
Nwadialo, 42, was arrested at an airport in Texas after arriving in the United States in 2024. He had earlier been indicted in December 2023 on 14 counts of wire fraud linked to a long-running romance scam operation.
At the sentencing hearing, U.S. District Judge Tiffany M. Cartwright described the crimes as “devastating,” noting that the victims suffered not only severe financial losses but also lasting emotional and psychological harm.
“It is not an exaggeration to say it ruined lives—not only financial lives,” the judge said, adding that many victims were left with shame, depression, and isolation from their families.
First Assistant U.S. Attorney Charles Neil Floyd said Nwadialo deliberately targeted emotionally vulnerable individuals, many of whom had experienced the loss of loved ones or other personal tragedies.
“This defendant preyed on those already suffering from the loss of loved ones or other heartbreak. For some 15 years he upended the lives of people he never met,” Floyd said.
“He spun tale after tale to gain the victims’ trust and their money—even claiming to run a non-profit providing services for autistic children. No scheme was too low for these conspirators.”
Special Agent in Charge of the FBI’s Seattle Field Office, W. Mike Harrington, said the conviction demonstrates that international fraudsters can still be brought to justice.
“For years, Mr. Nwadialo preyed on vulnerable victims looking for relationships online, gained their trust, and told them lies to steal their life savings totaling millions of dollars,” Harrington said.
According to court records, Nwadialo used different versions of the name “Giovanni” to create fake profiles on dating platforms, including Match, Zoosk, and Christian Café.
Investigators said he typically posed as a member of the military deployed overseas, using the story to explain why he could not meet victims in person.
He allegedly invented numerous emergencies to persuade victims to send him money.
In one instance, prosecutors said he convinced a victim to send $150,000 by claiming he had been fined by the military for revealing his location.
Authorities said he also claimed to need money for his father’s funeral, his son’s school fees, investment opportunities, and to facilitate access to funds linked to his late father.
According to prosecutors, one victim believed she was in a romantic relationship with Nwadialo’s fake online persona for three years before learning the truth through an FBI investigation.
Another victim, a widow seeking companionship after the death of her husband, reportedly lost her home and life savings after liquidating her assets to send money to the suspect.
In court filings, prosecutors argued that many of the victims may never fully recover from the financial and emotional damage caused by the fraud scheme.
The Federal Bureau of Investigation (FBI) investigated the case, while Assistant United States Attorneys Sok Tea Jiang and David T. Martin prosecuted it.
Following the completion of his prison sentence, Nwadialo is expected to face further immigration proceedings in accordance with U.S. law.
SOURCE
https://www.reportnaija.ng/2026/06/anambra-lg-chairman-sentenced-to-five.html
Press Release
Nigerian national sentenced to five years in prison for $3.5 million romance scam
Defendant engaged in online fraud for 15 years
Seattle – A 42-year-old Nigerian national was sentenced late yesterday in U.S. District Court in Tacoma to five years in prison for his scheme to steal some $3.5 million from eight different victims via an online romance scam, announced First Assistant U.S. Attorney Charles Neil Floyd. Franklin Ikechukwu Nwadialo was arrested at an airport in Texas upon his arrival in the U.S. in 2024. He was indicted in December 2023 for 14 counts of wire fraud connected to his romance fraud scheme. At the sentencing hearing U.S. District Judge Tiffany M. Cartwright called the crime “devastating,” noting that it is “not an exaggeration to say it ruined lives—not only financial lives” but also from the nonmonetary harms the victims endured, such as “shame, depression, and isolation from their own family.”
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https://www.justice.gov/usao-wdwa/pr/nigerian-national-sentenced-five-years-prison-35-million-romance-scam
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Musk loses trillionaire status as SpaceX shares crashes
Musk loses trillionaire status as SpaceX shares crashes
Elon Musk is no longer a trillionaire after a sharp global sell-off in technology stocks wiped an estimated $500bn (£379bn) from his personal fortune.
The billionaire entrepreneur Elon Musk had recently become the first individual to reach the trillion-dollar milestone following a record-breaking listing surge for his rocket company SpaceX earlier this month. However, shares in SpaceX have since fallen by around 30% from their peak, while Tesla was also caught in a broader technology market downturn on Tuesday, June 23.
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His net worth now stands at $957.1bn, according to analysis by Bloomberg, while calculations by Forbes suggest his fortune previously peaked at $1.45tn last week. The drop in Musk’s wealth over the past week exceeds the total fortune of Larry Page, whose estimated net worth stands at just under $297bn.
The decline comes amid two consecutive days of losses on Wall Street, with more than $89bn wiped from Tesla’s market value after its shares fell 5.8% on Tuesday. Chipmaker Nvidia also dropped 4.1% during the same session. Traders have warned that further volatility may follow after memory-chip producer Micron Technology prepares to release its third-quarter results, amid concerns that artificial intelligence valuations may be overheating.
Investment bank Goldman Sachs cautioned that AI-linked stocks could be vulnerable if there are signs of slowing investment from major tech firms. Ben McKeown, an investment manager at Dowgate Wealth, said Musk’s fortune remains highly exposed due to its concentration in two major holdings.
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He said: “The old adage is, you concentrate to build wealth and diversify to keep it. Musk is the most extreme example of this. Almost his entire net worth sits in Tesla and SpaceX, which have been extremely volatile, especially SpaceX as the shareholder base starts to be unlocked and becomes free to sell.”
Musk had briefly become the world’s first trillionaire on June 12 following the listing surge of SpaceX, which saw its shares jump as much as 67% in its first three days of trading after an IPO that valued the company at more than $1.8tn. However, the stock later fell for three consecutive sessions, erasing around $928bn in market value from a peak of $2.9tn to just over $2tn, before a slight recovery.
The scale of his recent wealth decline is now considered the largest on record, surpassing his previous loss in 2022 when his fortune fell by an estimated $165bn amid a slump in Tesla shares. Another billionaire affected by recent market turbulence is Larry Ellison, whose net worth peaked at around $400bn last September before falling to approximately $210bn following a major sell-off in Oracle shares.
by Linda Ikeji at 24/06/2026 7:00 PM|0 Comments
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FG supports US sanctions on Nigerians and BDCs ‘linked to terror financing’
FG supports US sanctions on Nigerians and BDCs ?linked to terror financing?
The Nigeria Sanctions Committee (NSC) has backed the decision by the United States to impose sanctions on three bureau de change (BDC) firms and several individuals over alleged links to terrorism financing.
The sanctions, announced by the US Treasury Department on Tuesday, targeted Mukhtar Muhammad Adamu and three Nigerian BDC operators, Generation Currency Bureau De Change Limited, Nine to Nine Exchange Bureau De Change Limited, and Manhattan Bureau De Change Limited, for allegedly facilitating financial transactions on behalf of the Islamic State (ISIS).
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According to US authorities, Adamu used businesses operating in Lagos and Kano as channels for moving funds linked to the terrorist group. The measures formed part of a broader international crackdown on individuals and entities across Europe, the Middle East and West Africa accused of helping ISIS transfer funds across borders.
In a statement issued on Wednesday, June 24, the NSC said the US action came shortly after Adamu and some of the affected firms were included on the Nigeria Sanctions List published on June 18, 2026. “The Nigeria Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC) yesterday,” the committee said.
The committee explained that the designation followed extensive intelligence gathering, financial investigations and inter-agency assessments. It added that there were reasonable grounds to believe the affected individuals and entities had “facilitated, financed, supported or otherwise contributed” to the activities of the Islamic State West Africa Province (ISWAP) and other associated terrorist networks.
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The federal government also reiterated its directive to financial institutions and designated non-financial businesses and professions to comply fully with sanctions obligations, including freezing assets, filing suspicious transaction reports and notifying relevant authorities of any matches.
The NSC commended the Federal Ministry of Justice, the Office of the National Security Adviser (ONSA), the Central Bank of Nigeria (CBN), the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) for their roles in disrupting terrorism financing networks.
The committee said Nigeria remains committed to ensuring that terrorists and their financiers have no safe haven within the country’s financial system and pledged continued collaboration with domestic and international partners to strengthen financial integrity and combat terrorism financing.
Those recently added to the Nigeria sanctions list include Ibrahim Yakubu Ogirima, Mukhtar Muhammad Adamu, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, Babangida Muhammed Adamu Hammajam, Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited and Nine to Nine BDC Limited.
by Linda Ikeji at 24/06/2026 6:59 PM|0 Comments
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Father jailed for one year for having inc£stuous relationship with his biological daughter who then took her own life
Father jailed for one year for having inc�stuous relationship with his biological daughter who then took her own life
A father who admitted to having an incestuous relationship with his biological daughter avoided state prison this week, sparking outrage.
Stephen Vincent Chavez, 41, was sentenced this week to one year in jail and three years of felony probation after pleading guilty in May 2026 to one felony count of inc£st and one misdemeanor count of providing alcohol to a minor, according to the Ventura County District Attorney’s Office.
Father jailed for one year for having inc�stuous relationship with his biological daughter who then took her own life
The lighter sentence came despite prosecutors pushing for the maximum punishment while portraying the case as a serious abuse of trust and betrayal of parental authority.
An open plea agreement presented directly to Ventura County Superior Court Judge Dusty Kawai bypassed the prosecution’s sentencing recommendation.
Under California law, felony inc£st carries a maximum sentence of only three years.
Kawai claimed he could not legally impose that maximum term because the defendant lacked a prior criminal record.
Prosecutors also said they reviewed whether additional charges, including r@pe, could be filed, but concluded inc£st was the only felony charge supported by law, evidence, and admissible facts.
The case stems from events in July 2025, when Chavez’s daughter, Makayla Rene Settles, was staying at his Moorpark home.
Prosecutors said the situation escalated after a family gathering where alcohol was consumed, followed by Chavez purchasing more alcohol for himself and his daughter to drink at home.
“After a day of drinking at a family gathering, Chavez purchased additional alcohol for himself and his daughter to consume at home. Chavez then engaged in s£xual intercourse with her,” the district attorney’s office said in a news release.
Makayla di£d by su!cide in December 2025 at the age of 18.
Father jailed for one year for having inc�stuous relationship with his biological daughter who then took her own life
Chavez’s sentence has triggered intense backlash, particularly because prosecutors sought a three-year state prison term, which the court rejected.
“Several members of Makayla’s family addressed the court during sentencing and provided emotional victim impact statements describing the lasting trauma caused by the defendant’s actions and the devastating loss of Makayla,” the news release said.
Deputy District Attorney Tessa McCarty sharply condemned Chavez’s actions, calling out what she described as a flagrant betrayal of parental trust.
“Chavez exploited his position as a father, violated his daughter’s trust, supplied her with alcohol, and engaged in criminal conduct that forever altered the course of her life,” McCarty said.
She added, “While we respect the court’s decision, we continue to believe a state prison sentence was warranted under the facts of this case.”
by Linda Ikeji at 24/06/2026 7:19 PM|0 Comments
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