Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Gary Jones, the former president of the United Auto Workers, was sentenced to jail on Thursday, June 10. The executive was given a 28-month imprisonment term for misappropriating the union’s funds.
Gary Jones’ case is part of the wider federal investigation into corruption inside the UAW. According to Reuters, the accused pleaded guilty last month and admitted to embezzling more than $1 million.
Jones’ guilty plea for various offenses
Based on the statement from the United States Department of Justice, the former UAW chief pleads guilty to not just embezzlement but tax evasion and racketeering as well. He also admitted to conspiring with at least six other UAW executives for years to embezzle money from the union for their personal benefit.
“Jones admitted that he and other senior UAW officials used the UAW money to pay for personal expenses, including golf clubs, private villas, cigars, golfing apparel, green fees at golf courses, and high-end liquor and meals costing over $750,000 in UAW funds,” the U.S. DOJ said in a press release last month. “For example, in just one of the years of the conspiracy, Jones used UAW money to purchase over $13,000 in cigars for the use of high-level UAW officials.”
The case has been going on for more than a year now, and the verdict was finally handed down. Gary Jones appeared before the U.S. District Court in Detroit yesterday. In one of his previous court appearances, he apologized to the UAW members for betraying their trust, and he asked them for forgiveness.
The court’s final decision
Finally, at Thursday's hearing, the court ordered the former UAW president to return $550,000 to the UAW. He will also have to pay $42,000 to the Internal Revenue Service, and at least $151,000 would be forfeited from him.
The prosecutors also asked the 63-year-old Gary Jones to pay a $10,000 fine. In his final statements, he reportedly pleaded for mercy from Judge Paul Borman. He also apologized once again to the UAW and said that he failed the union.
"I failed the UAW," Jones stated. "I let my union down and I pray every day that no harm comes to the UAW."
