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AMC CEO was catfished

AMC Entertainment (NYSE: AMC) CEO Adam Aron found himself embroiled in a salacious texting scandal that unfolded over several weeks. A woman, using fake identities, attempted to extort him for a significant sum of money, resorting to sexually explicit images and messages as leverage.

The intricate web of deceit and blackmail, commonly referred to as a “catfishing” scam, came to light in a 2022 federal indictment against a Bronx woman, Sakoya Blackwood, who subsequently pleaded guilty in the summer. In these legal documents, Aron was identified as “Victim 1,” simply described as a public-company CEO, a fact later corroborated by individuals with knowledge of the case.

At the FBI’s direction, Aron chose to disclose the incident to AMC’s board once Blackwood had been sentenced in July, having already served her time.

You can read more on the matter here.

What’s going on?

• Bank Of Canada Pandemic Purchases Total To $795 Billion–Report (theDeepDive)

• Americans Failed to Pay a Record $688 Billion in Taxes. The IRS Says That Will Change (WSJ)

• Gold, Oil Jump Following Uncertainty In Middle East (theDeepDive)

• Seismologists detected blast-like waves near broken Baltic Sea pipeline (Reuters)

• U.S. Slams Financial Door on Iran: $6 Billion Frozen Amid Hamas Fears (theDeepDive)

• Israel Latest: Palestinians Flood South After Evacuation Order (Bloomberg)

• CBC Faces Backlash Over Directive to Avoid Labeling Hamas as Terrorists (theDeepDive)

• Biden Endorses FTC Proposed Rule To Ban Junk Fees (theDeepDive)

What’s the latest?

• Israel Alerts UN: The Israel Defense Forces have issued an evacuation order to around one million Palestinians in Gaza, particularly in the northern areas. This order comes ahead of an expected ground invasion against the militant group Hamas. The UN has expressed concerns about the humanitarian consequences of such a mass evacuation, and the UN spokesperson called for the order to be rescinded to prevent a tragic situation from becoming a calamity.

• Consumer Sentiment: The October preliminary report for the Michigan Consumer Sentiment Index shows a sharp decline in consumer sentiment. The index came in at 63.0, which is down 5.1 points (7.5%) from the September final reading. This drop in consumer sentiment is likely due to growing concerns about inflation.

• AB/SK Get A Win: The Supreme Court of Canada has ruled that parts of Ottawa's Impact Assessment Act (IAA) are unconstitutional. The IAA, which considers environmental and social impacts of projects, has been a point of contention, especially in Alberta. The court's decision may have significant implications for resource development projects.

• Real Estate Slump: The Canadian Real Estate Association (CREA) reported a 0.3% decline in its national price index, the first drop since March. This slowdown in sales has been ongoing since June when interest rates started to rise, with the CREA noting the numbers of homes sold has fallen for three consecutive months.

• Newcrest Approves: Shareholders of Australia's Newcrest Mining Ltd. have approved the acquisition of the company by U.S. mining giant Newmont Corp. The deal, valued at nearly $15 billion, will consolidate Newmont's position as the world's top producer of gold bullion.

FPX Nickel’s strategic deal

The stock market and stuff

• Inflation Hits the Rich: LVMH Reports Slower Sales Growth in 3Q 2023 (theDeepDive)

• Novo Nordisk raises full-year guidance again as US sales of Wegovy, Ozempic fly (Reuters)

• Microsoft Completes $69 Billion Activision Blizzard Purchase (Bloomberg)

In the juniors

• TerrAscend Increases 2023 Adjusted EBITDA Guidance By 8% To $63 Million (theDeepDive)

• Element 29: The Peruvian Copper Assets (theDeepDive)

• Red White & Bloom To Acquire Aleafia Health Assets Under CCAA Proceedings (theDeepDive)

FULL DISCLOSURE: LNG Energy Group is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of LNG Energy Group. The author has been compensated to cover LNG Energy Group on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.