• News

by Eric Moody

December 5, 2022

Man Pleads Guilty to Burning Cross in Yard to Intimidate Black Family in Mississippi

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Officials have announced that a Mississippi man has pleaded guilty in federal court to burning a cross in his front yard with the intent to intimidate a Black family, according to the U.S. Department of Justice.

The Guardian reports that 24-year-old Axel Cox of Gulfport, Mississippi mounted a wooden cross in his front yard on Dec. 2, 2020, according to officials. Cox then reportedly doused the wooden cross with motor oil and lit it within view of his Black neighbors.

The U.S. Department of Justice stated that Cox “admitted to violating the Fair Housing Act when he used threatening and racially derogatory remarks toward his Black neighbors and burned a cross to intimidate them.”

The assistant attorney general for civil rights, Kristen Clarke, said, “Burning a cross invokes the long and painful history, particularly in Mississippi, of intimidation and impending physical violence against Black people.”

The New York Times reported that Black Americans have increasingly found themselves the target of hate crimes, which rose between 2019 and 2020. That includes the mass shooting at a Tops Supermarket store in Buffalo, NY on May 14, where 10 people were killed by a white supremacist. The gunman, Payton Gendron, 19, will be sentenced to life in prison without parole as part of his plea, BBC reported.

“Individuals in our communities should be free from threats and intimidation,” said Luis Quesada, assistant director of the FBI Criminal Investigative Division.

“The FBI and our law enforcement partners will continue to bring to justice anyone who violates the federal laws designed to ensure civil rights are protected.”

Cox faces a maximum penalty of 10 years in prison and a fine of up to $250,000 or both.

Sentencing for Cox is scheduled for March 9, 2023.

• News

by Jeroslyn JoVonn

December 5, 2022

Philadelphia Jeweler Convicted for $750,000 For Trafficking Counterfeit Goods And Financial Fraud Offenses

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A well-known Philadelphia jeweler who has iced out big names like Floyd Mayweather and Meek Mill is facing prison time for selling fake Rolex watches.

Dimitre Hadjiev, 41, has been convicted of trafficking counterfeit goods and financial fraud offenses related to selling counterfeit luxury wristwatches, WatchPro reports. The charges come after Hadjiev’s property was raided in 2019, and the IRS and FBI investigated his business practices.

The probe found that Hadjiev knowingly bought and sold counterfeit Rolex watches and customized Rolex watches with counterfeit Rolex parts from a separate jewelry and watch trading store. Hadjiev sold the fake goods under Dimitres Jewelry and Watches and Ice Fire Inc.

“A jury of Mr. Hadjiev’s peers confirmed what the government first alleged during the indictment: that Mr. Hadjiev trafficked counterfeit goods, laundered the proceeds, and structured deposits in an effort to avoid currency reporting requirements,” Yury Kruty, special agent in charge of IRS Criminal Investigations said.

“The Special Agents of IRS-CI and our law enforcement partners will continue to investigate and bring to justice criminals like Mr. Hadjiev who partake in schemes like this out of greed.”

Bank records show Hadjiev committed bank fraud by manufacturing deposits from his store sales to avoid activating his banks’ reporting requirements. He also failed to make required reports for cash sales over $10,000.

In total, Hadjiev is accused of committing around $750,000 in fraud.

“The defendant trafficked in counterfeit merchandise and structured his deposits to conceal the cash flowing into his jewelry business,” U.S. Attorney Jacqueline C. Romero said.

“This Office and its law enforcement partners are committed to protecting consumers from unknowingly purchasing phony merchandise and to holding defendants accountable for their greed.”

Hadjiev often boasted of his celebrity clientele by posting photos with big-name stars like Philadelphia native Meek Mill, boxing champion Floyd Mayweather, one-time Philadelphia 76ers player Andre Iguodala, and the late Playboy mogul Hugh Hefner, Daily Voice reports.

In September 2019, Hadjiev was first charged with several crimes stemming from his fake Rolex scheme, Patch reports. Evidence presented at trial showed that Hadjiev had been operating his business since at least 2014 on the 300 block of South Street in Philadelphia.

A dynamic duo both in life and work, powerhouse real estate broker and designer Egypt Sherrod and her husband, expert builder Mike Jackson, will return for a new 12-episode season of their HGTV breakout hit series Married to Real Estate on Thursday, Jan. 12, at 9 p.m. ET/PT and available to stream on discovery+.

The compelling couple—who inspired 19 million season one viewers with their positive perspective on running successful property businesses, managing a home and raising three daughters—will help more families buy houses with potential in their ideal Atlanta neighborhoods and transform them into stunning dream homes. Drawing from her experience as the star of HGTV’s Property Virgins and Flipping Virgins, Egypt will employ her knowledge of the real estate market and financial prowess to find their clients affordable houses in desirable locations and manifest her design expertise to reimagine the spaces. Then, Mike will execute the breathtaking renovations that deliver an increased home value and return on investment, finding solutions to any construction problem and staying on budget.

“Mike and I have built a one-stop shop for real estate, renovation and design—and this is only the beginning,” said Egypt. “Our goal for every project is to ensure we embrace the clients’ vision and needs while marrying high design and function so the end result exceeds their every expectation.”

“Working with your spouse has its challenges, but we wouldn’t trade it for the world,” said Mike. “Egypt and I are all in to give families beautiful homes with added value, and it’s our willingness to compromise along the way that makes us a great team both on the job and at home.”

To start the season, Egypt and Mike will convince a couple to snatch up a Dunwoody property that needs a massive overhaul to create a livable open concept. The new modern farmhouse design will feature a waterfall island and dark green tile backsplash in the kitchen and a must-have home office with a hidden closet and en suite bathroom. On the family front, Egypt and Mike will search for the perfect nursery school for three-year-old Harper and celebrate her milestone first day together. Throughout the episodes, the adventures will continue as they conquer Harper’s potty training, teach older daughter Kendall how to manage money and adjust to living with their new puppy, Serene.

Until the new season premieres, fans of Egypt and Mike can stream the first season of Married to Real Estate, as well as binge watch Egypt’s previous HGTV series, on discovery+. Also on the streaming platform, they can watch the pair go head-to-head against other renovation experts in season three of the mega-hit competition series, Rock the Block.

HGTV’s digital platforms will offer up even more exclusive Married to Real Estate content at HGTV.com and on social media by following @HGTV and #MarriedtoRealEstate on Facebook, Twitter, Instagram and TikTok. In addition, fans can follow Egypt (@egyptsherrod) and Mike (@djfadelf) on Instagram. The new season also will be available on HGTV GO the same day and time as the linear premieres—Thursdays at 9 p.m. beginning Jan. 12.

Married to Real Estate is produced by 51 Minds Entertainment.

Rihanna had the pleasure of watching an advance screening of Will Smith‘s new film Emancipation and reportedly fell in “love” with the cinematography.

Smith hit the red carpet last week for the Hollywood premiere of his new Antoine Fuqua-directed film about a slave who fled a Louisiana plantation after being whipped within an inch of his life. Rihanna, along with the likes of Dave Chappelle and Tyler Perry, attended a private screening in October, and the Bajan pop star walked away praising the film.

“Rihanna loved the cinematography,” Smith told E! News. “She could not get over the look of the film and how it felt.”

With so many Black A-listers in attendance at the private screening, Smith got a good idea of how his community would respond to the new film.

“The thing that’s great with Black people is they talk to the screen the whole time, so you don’t have to ask people’s opinion,” he joked. “So, I didn’t have to ask anybody’s opinion from the room.”

Emancipation is Smith’s first major film release since his now-infamous Oscars slap attack against Chris Rock. The Academy Award-winner has returned to the spotlight to promote the film.

In October, Smith shared photos from the private screening to thank all those who came out to show their support in the wake of his public scandal.

“EPIC night!! Thanx for coming to see #Emancipation. Hope ya’ll enjoyed!!” Smith captioned the post.

 

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A post shared by Will Smith (@willsmith)

Smith has addressed the Oscars slap on two separate occasions. In July, he released a video offering an apology to Rock and the public. Most recently, he appeared on The Daily Show, where he admitted to acting up after having so much “bottled up” inside.

“That was a rage that had been bottled for a really long time,” he said.

“I guess what I would say is you just never know what someone is going through. I was going through something that night. …It’s like when they say ‘Hurt people hurt people,’ you know?”

Al B. Sure! – the legendary singer, songwriter, producer, radio host, and social justice activist – recorded the new radio ad for Loudmouth, the highly anticipated documentary on the life of Rev. Al Sharpton, which is due to hit theaters on Dec. 9.

This is Mr. Sure!’s return to voicing national campaigns after his major medical scare this summer. Over several months, he received a new organ, was intubated, placed on a ventilator, and at one point considered for hospice care. Prior to performing a tracheotomy on Mr. Sure!, doctors were advised to be mindful of his vocal chords and the placement of his trachea, because we are certain he fully intends continue his career in radio and crooning for the New Jack Hip-Hop R&B fans around the world.

That begins with the new 60-second spot for Loudmouth, which explores the life, career, and legacy of Rev. Sharpton. The documentary chronicles his rise from a boy preacher to a firebrand activist in 1980s New York City, and eventually to an elder statesman of the civil rights movement. The ad piece began running in New York City over the Thanksgiving weekend and will begin premiering in Los Angeles, Richmond, and Atlanta over the coming week.

In its pursuit to obtain a gaming license in New York City to place a casino in the famed Times Square, SL Green and Caesars Entertainment have enlisted one of the city’s most recognizable faces to help seal the deal.

SL Green and Caesars Entertainment have announced that Jay-Z and his Roc Nation entity will be joining them in their efforts of opening a new, state-of-the-art gaming facility at 1515 Broadway in Times Square, the heart of midtown Manhattan.

The trio of independent companies believes that the facility, which will be named Caesars Palace Times Square, will generate 7 million new visits to Times Square. With the debut of the casino, native New Yorkers and tourists alike will bring billions in economic benefit to Broadway and area businesses.

“New York is a beacon, the epicenter of culture. We have the opportunity to create a destination at the heart of Times Square, the true crossroads of the world,” Shawn “JAY-Z” Carter said in a written statement.

“My partnership with SL Green and Caesars, this coalition, has all the promise and commitment to economic opportunity, growth,and enrichment for the community, and everyone who visits the Empire State.”

The partnership between New York’s largest owner of office properties, the country’s leading gaming company, and the world’s preeminent entertainment company will make for a successful venture for the city.

Jay-Z’s Roc Nation’s participation as the entertainment arm will help revitalize the Times Square area by working with neighboring organizations “to re-imagine programming in the district’s famous “’bow tie.’”

“There’s no better partner than Jay-Z and Roc Nation to help Caesars Palace Times Square ensure that Times Square remains a global entertainment hub and an economic engine for New York,” said Marc Holliday, chairman and CEO of SL Green. “Together, we will bring the nearly 130 million annual pedestrians a stronger and more exciting Times Square to visit, reunifying the bow tie around a new set of innovative programming that will appeal to New Yorkers and tourists.”

After reportedly being ok with the fact that T.J. Holmes and Amy Robach were having a romance, the duo was taken off the air for the same reason.

According to TMZ, executives at ABC News decided to take the co-hosts off the air after the discovery that the two were romantically involved, although both had separated from their perspective spouses in August.

The announcement was made by ABC News President Kim Godwin during a morning editorial call on Monday. She called the relationship an “internal and external distraction.”

This Mama Doll wants the world to see Black women as beautiful dolls who love to get along and play well with others.

Black woman business owner Dana Hill created the largest consumer group of Black toy dolls, The Black Doll Affair, with a mission to change the way Black girls perceive themselves.

According to CBS 12 News, the Lynn University graduate brought The Black Doll Affair to life in December 2007 after coordinating what was meant to be a one-time Christmas party where Black women attended as the ‘Black doll’ and women who were not Black showed up as their ‘porcelain pals.’

“They were there to be that white doll come to life and talk to a little girl about how unique her hair is and her skin and nose and how no one has these attributes but her—the Black doll,” Hill explained.

The movement, now recognized worldwide, happens on the first Saturday of every December when the Black’ ambassadolls’ host themed Christmas parties to empower Black girls and women. Additionally, dolls are donated to Black girls across the country.

“Their challenge every year is to get behind the self-esteem theme and act as teachers in a classroom promoting this theme to empower these baby doll guests,” Hill said. “Then once they’re fully empowered, they leave with a doll and that’s happened all over the country for 16 years which is how we became the largest consumer group of Black Barbie and now officially partners with Barbie for the last 10 years.”

The company announced in July their ‘Buy Felicia’ 16th Annual Doll Giveaway, where dolls are purchased from Black women.

This Christmas our message for our 16th Annual Doll Giveaway is 'Buy Felicia'! We're buying black dolls from Black women. Learn more at https://t.co/XY7wMjnzNu #buyfelicia #theblackdollaffair #theblackdolls pic.twitter.com/WYStFM2eEq

— Mama Doll (@blackdollaffair) July 7, 2022

“Because many doll companies owned by Black women are marginalized and, therefore, experience difficulty finding the funding they need to compete in the marketplace, having experienced marginalization myself, I stepped in to help with The Black Dolls #BuyFelicia campaign,” Hill wrote on the company’s website.

Reportedly, President Barack Obama recognized The Black Doll Affair with the President’s Volunteer Service Award.

The late Congressman and civil rights pioneer John Lewis helped declare Dec. 12th in Georgia as The Black Doll Affair Day.

The Association of African American Financial Advisors (“AAAA” or the “Association”), a non-profit membership organization for African American financial advisors and other wealth management industry professionals, today announced the appointment of Alex David, President and CEO of Stifel Independent Advisors, as its incoming Chairman Emeritus.

In this position, Mr. David will provide strategic guidance to the Association as it embarks upon the next stage of its vision for driving a more equitable wealth management industry, according to a press release.

The appointment of Mr. David to this role is occurring in connection to the decision of the Association’s Founder LeCount Davis, MBA, CFP®, a widely recognized wealth management industry pioneer, to eventually transition to a chief advisory role. He will remain Chairman Emeritus and a member of the AAAA Board of Directors in 2023. Christian Nwasike, MFP®, will continue to serve as Chairman of the Board, providing day-to-day leadership of the Association. Mr. Nwasike is also principal and executive managing partner with Practice Management Consultants, LLC, a consultancy focused on coaching African American financial advisors to achieve greater business growth and success.

New Strategic Initiatives to Drive Greater Representation

“Our ability to create impactful change across the wealth management space is embedded in the Association’s incredibly strong foundations that were principally built by LeCount Davis,” said Mr. Nwasike.

“AAAA is positioned to amplify our voice and influence in helping to reshape the industry to be more reflective of our modern-day society because of the remarkable work of LeCount, who is truly a trailblazer for the Black financial advisor community. Building upon his lifetime of work, we will take bold and collaborative actions to develop solutions to problems of financial literacy, wealth inequality and other issues of immediate relevance to Black communities across the country. During this period of leadership transition, we remain fully committed to preserving our legacy while producing the best possible outcome for our members.”

Related to its leadership transition, the Association is in the process of building out a multi-racial Advisory Board of C-suite leaders across the wealth management space, part of a larger initiative to develop new programs to advocate for additional Black and diverse C-suite leadership while supporting young Black professionals seeking opportunities in the financial advisory space. It will further engage with the Black community to enhance financial education and address the racial wealth gap in the United States.

Commenting on the next chapter of the Association’s strategic development, Alex David said, “I am honored to take an active role in the future of AAAA at this critical moment in time for the wealth management industry. The ample transition runway we are chiseling leaves room for one of my top priorities: to build out a new advisory board comprised of Black CEOs and their allies, to further drive AAAA’s industry vision and objectives in collaboration with LeCount Davis. Having visible Black leadership is critical to the future of a more equitable financial advice industry, but it must go deeper. Working alongside Christian Nwasike and the professional staff at AAAA, as LeCount remains in his role, we will push our industry to make our board rooms, C-suites and branch offices more representative of the communities we serve.”

By the Numbers

According to industry statistics, while there are approximately 700,000 financial advisors serving communities across the country, there are only 60,000 Black Series 7 and Series 65 license holders and IARs, or 8% of the total advisor population. The most recent U.S. Census data suggested the Black and African American communities represent about 14.6% of the U.S. population.

“We believe we must achieve population parity between the percentage of Black advisors and the percentage of Black and African American communities in this country,” said Mr. Nwasike. “We need to double the number of Black advisors to meet this goal to mitigate the negative impacts of the racial wealth gap in the United States.”

Working with Historically Black Colleges and Universities, Top Firms

Additionally, AAAA plans to intensify its work with historically Black colleges and universities, including Howard University, Morehouse College and Spelman College, to increase awareness of this profession with graduates and young professionals so to immediately address the Black advisor shortage. The organization will also strengthen its partnership with top firms Wells Fargo, Merrill, J.P. Morgan & Co., and Edward Jones.

“According to independent research, the Black community is spending close to $2 trillion per year,” said AAAA Board Member Alleson Tate CFP®.

“Our membership has dedicated their professional lives to helping their clients build and sustain their financial well-being.”

“We believe our members are best positioned to help shift this community trend toward saving and investing a significant portion of these assets, enhancing Black America’s ability to deliver meaningful and sustainable generational wealth transfer for years to come.”

The Legacy of LeCount Davis

Mr. Davis earned his BA and MBA in accounting in the 1960s and was the first African American to earn the Certified Financial Planning designation from the College for Financial Planning in Denver, Colo. He started his practice in 1970, which he continues to run today, in partnership with his successor. Mr. Davis founded AAAA in 2001 to address the needs and concerns of African American financial professionals.

“It’s an honor to work closely with so many peers and allies across the country, in service of our community,” said Mr. Davis.

“While we’ve made incredible strides since I started in this industry more than 50 years ago, the financial advisory space has more work to do. As we begin our leadership transition, I’m confident the mission of AAAA will be incredibly well served by Christian, Alex and the entire leadership team as they continue to build a more equitable and sustainable financial advice industry.”