Andrew Marnell, 40, is accused of submitting bogus loan applications on behalf of several companies to secure Paycheck Protection Program funds.

Prosecutors in Los Angeles allege that he spent hundreds of thousands of dollars at Las Vegas casinos.

He also allegedly used the funds to make high-risk stock market bets.

Mr Marnell faces up to 30 years in prison if convicted of bank fraud.

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To date and as needed, USD 63 million have been allocated to IFs and USD 37 million to NOCs.

In addition, it has been confirmed today by the IOC Executive Board (EB) that the IOC will continue supporting the NOCs with the TOP Programme allocation amounting to USD 150 million payable by end of this year. Furthermore, the IOC is committed to ensuring funding for the IOC-Recognised Organisations.

The IOC, as the leader of the Olympic Movement, is playing a critical role in supporting its stakeholders during the COVID-19 outbreak. The organisation has swiftly delivered on its commitment to allocate an aid package programme for the Olympic Movement.

IOC President Thomas Bach said: “The Olympic Movement is facing an unprecedented challenge. The IOC has to organise postponed Olympic Games for the first time ever, and has to help its stakeholders come through this global crisis. This new situation will need all our solidarity, creativity, determination and flexibility. We shall all need to make sacrifices and compromises. Extraordinary circumstances call for extraordinary measures. This situation requires every one of us to do our part, and this applies to all of us, including the IOC. We are glad to be able to help with our support programmes.”

The IFs are facing financial hardship due to the cancellation of sports events and the impact on the sporting calendar of the Olympic Games Tokyo 2020 being held in 2021. Due to the urgency of the situation, payments to IFs started in June 2020, and the programme is still continuing. The IOC’s support comes in different forms, and is decided after an assessment of needs and on a case-by-case basis.

International Federations that have received a loan from the IOC (in alphabetical order) International Basketball Federation, International Golf Federation, International Gymnastics Federation, International Hockey Federation, International Judo Federation, International Modern Pentathlon Union, International Swimming Federation, International Tennis Federation, Union Cycliste Internationale, World Archery, World Athletics, World Rowing, World Rugby, World Sailing, World Taekwondo

International Federations that have received a donation from the IOC (in alphabetical order; these Federations do not participate in the revenue distribution from the Olympic Games) International Federation of Sport Climbing, International Surfing Association, World Baseball Softball Confederation, World Karate Federation,World Skate

Additionally, IFs based in Switzerland can benefit from the financial support of the Swiss government under the Federal COVID-19 F1 and F2 credit programmes, provided they meet the relevant criteria.

The NOCs are also experiencing a significant financial impact from the postponement of the Olympic Games Tokyo 2020 and the COVID-19 outbreak.

All NOCs have incurred additional costs. Like most organisations across the world, NOCs are facing uncertainty relating to their long-term planning and cash flow due to the disruption in existing business arrangements with national sponsors and the diversion of government funding away from sport. This has resulted in many uncertainties relating to the NOCs’ capacity to fulfil their responsibilities towards their athletes, coaches and national stakeholders.

As a trusted long-term partner of the 206 NOCs, Olympic Solidarity has been responsive to this new global environment and adapted its programmes and working methods where needed, and within the budgets available. Following consultation with the Olympic Solidarity Commission, the following actions have been taken, and these were communicated already in mid-April:

All the 2017-2020 programmes and budgets with a direct link to Olympic Games preparation and participation will be extended to the Olympic Games in 2021. This includes:

- Tokyo 2020 Olympic scholarships for athletes

Support for more than 1,600 athletes currently benefiting from a Tokyo 2020 Olympic scholarship will continue without interruption until August 2021 for a total cost of USD 15 million, subject to the programme guidelines.

- Team support grants

Additional support can be requested for teams currently benefiting from this programme who have qualified or can still qualify for the Games in Tokyo through participation in specific competitions.

- Refugee athlete support

Support to refugee athlete scholarship-holders will continue without interruption until August 2021, in accordance with the programme guidelines.

- IOC subsidies for NOC participation in the Olympic Games

To meet the specific needs relating to NOC costs incurred due to the postponement of Tokyo 2020, Olympic Solidarity has increased the total budget allocated to the IOC subsidies for NOC participation in the Olympic Games Tokyo 2020 from USD 46.7 million to USD 57 million.

In addition, in June 2020, the Association of National Olympic Committees (ANOC) agreed to make available a budget of USD 11.65 million that had been allocated to ANOC by Olympic Solidarity from the 2017 – 2020 plan for a specific ANOC Tokyo 2020 fund. This fund is available to all 206 NOCs to assist them in facing exceptional costs relating to athlete and NOC preparation for the Olympic Games Tokyo 2020 in particular, and the COVID-19 crisis in general. It will be distributed to the NOCs by the NOC Continental Associations under the coordination of Olympic Solidarity, to avoid duplication of existing programmes and subsidies and to take into consideration continental specificities.

In relation to the Recognised Organisations, the IOC is conducting ongoing discussions with them to better understand the impact of the Olympic Games’ postponement and COVID-19 to ensure their continued funding.

On 14 May, the IOC EB had approved a substantial financial plan, including an envelope of USD 150 million for IFs and NOCs to help them overcome the significant financial challenges resulting from the COVID-19 pandemic and the postponement of the Olympic Games Tokyo 2020. This funding is intended to help them continue their mission to develop their sports, prepare for the Olympic Games and support their athletes.

In order to be able to deliver all this support, the IOC had to ask the Olympic Foundation for its assistance. The Foundation Board decided to allocate an amount of up to USD 300 million to assist the IOC in its efforts to support the actions of the Olympic Movement.

The International Olympic Committee is a not-for-profit independent international organisation made up of volunteers, which is committed to building a better world through sport. It redistributes more than 90 per cent of its income to the wider sporting movement, which means that every day the equivalent of 3.4 million US dollars goes to help athletes and sports organisations at all levels around the world.

Several islands of The Bahamas were voted among the top 25 Caribbean islands to visit by Travel + Leisure readers.

This year’s survey was completed just before the outbreak of the COVID-19 pandemic. Annually, Travel + Leisure magazine asks readers to weigh in on travel experiences and to share their opinions on the top cities, islands, cruise ships, spas, airlines, and more.

Readers rated islands according to their activities and sights, natural attractions and beaches, food, friendliness, and overall value.

The Abacos were featured in second place for their serene beaches and excellent sailing experience — a popular destination for the water- loving traveler.

The third place feature was Harbour Island, fondly known as “Briland” with its three-mile stretch of pink sand beach and quaint, colorful cottages.

Exuma ranked in eighth place with its beautiful constellation of cays surrounded by crystal blue water.

Minister of Tourism & Aviation Hon. Dionisio D’Aguilar spoke with pride about The Bahamas being highlighted:

“The global shelter-in imposed by Covid-19 has ramped up desire for travel among consumers, and the Caribbean remains one of the preferred regions of the world for dream vacations.

It is gratifying to know that islands of The Bahamas such as the Abacos, the Exumas, Harbour Island are on the A-list of Caribbean destinations.”

This year’s World’s Best Awards survey closed on March 2, just before global stay-at-home orders were implemented as a result of COVID-19. The survey results focused on readers’ experiences prior to the pandemic, but Travel + Leisure hopes that they inspire travel in the near future. For more information, please check out the article below. https://www.travelandleisure.com/worlds-best/islands-in-caribbean

The state, with just 7% of the US population, surpassed the previous daily record held by California.

Florida, which began lifting coronavirus restrictions in May, has proved vulnerable due to tourism and an elderly population.

Its figures eclipse the worst daily rates seen in New York in April.

Florida also registered an additional 45 deaths.

The state would rank fourth in the world for new cases if it were a country, according to a Reuters analysis. More than 40 hospitals in Florida say their intensive care facilities are at full capacity.

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