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Tuesday, March 21, 2023

Lawyers reveal whether Prince Harry’s drug use will affect US visa status

 Truth-teller” Prince Harry may find himself in hot water — and lose his rights to live in the US — for being too honest about his past drug use, a legal expert tells Page Six exclusively.

However, others argue that the British royal is in the clear — unless he happens to one day find himself behind bars.

“An admission of drug use is usually grounds for inadmissibility,” former federal prosecutor Neama Rahmani says.

“That means Prince Harry’s visa should have been denied or revoked because he admitted to using cocaine, mushrooms and other drugs.”

Rahmani, president of West Coast Trial Lawyers, adds that there is “no exception for royalty or recreational use.”

The Duke of Sussex revealed in his memoir, “Spare,” released in January, that he “drank heavily,” used cocaine and smoked pot throughout his life.

While Harry, 38, claimed he only used coke as a teen, he has also admitted to experimenting with psychedelics well into his adulthood.

The prince said during an online chat with trauma expert Gabor Maté earlier this month that he considers hallucinogenic drugs a “fundamental” part of his life.

Enlarge ImagePrince Harry partying with friends.
Harry, seen here in 2004, wrote about using cocaine in his book, “Spare.”
Richard Young/Shutterstock

“It was the cleaning of the windscreen, the removal of life’s filters — these layers of filters — it removed it all for me and brought me a sense of relaxation, relief, comfort, a lightness that I managed to hold back for a period of time,” he shared at the time.

“I started doing it recreationally and then started to realize how good it was for me.”

Attorney James Leonard, who represented “The Real Housewives of New Jersey” alum Joe Giudice in his immigration case, disagrees with Rahmani that Harry’s status in the US is at such high risk.

Enlarge ImagePrince Harry drinking.
The royal, seen here in 2012, has not said he’s suffered from addiction issues.
Tim Rooke/Shutterstock

“Absent any criminal charge related to drugs or alcohol or any finding by a judicial authority that Prince Harry is a habitual drug user, which he clearly is not, I don’t see any issue with the disclosures in his memoir regarding recreational experimentation with drugs,” the high-profile New Jersey-based lawyer tells Page Six.

Leonard explains that drug users who are not US citizens would have to give immigration officials a reason to launch an investigation into the individual’s status, like a criminal act.

“You’ve got to give them something that would trigger it, and revealing it in a book, that you experimented with drugs when you were a young man, I don’t think gets you there,” the celebrity attorney adds.

Enlarge ImagePrince Harry walking outside.
Legal experts say Harry’s visa would only be at risk if he faced criminal charges.
The Daily Stardust / ShotbyNYP/MEGA / BACKGRID

“Immigration is not going to do anything based on that. If he got arrested or if he got a DWI, then we’re having a different conversation.”

Sam Adair, an immigration lawyer with more than two decades of experience, agrees with Leonard that it is “unlikely that these admissions will present a problem.”

“If there had been a conviction, it would have likely been a significant issue in getting a visa,” the executive partner at Graham Adair points out.

He adds, “This isn’t to say that drug use could not be a problem in the immigration process, but in this circumstance, it is unlikely that this would present an issue. 

“It isn’t clear to me what the duke’s visa status is in the US, but breaking the law could be an issue in getting a visa renewed or for readmission to the US. But recreational drug use that has not been the subject of criminal scrutiny is unlikely to present an issue for someone’s visa status.”

However, Rahmani maintains that there is “no requirement that the person actually be convicted of a drug offense.”

He notes, though, that a loophole for drug users to stay in the US would be for them to “get a waiver” as proof that their substance abuse “is in remission.”

“Someone is considered in remission after one year of sobriety,” Rahmani explains. “A waiver request requires a doctor to submit medical records, but it’s unclear whether Prince Harry made such a request because immigration files are not public.”

Harry has not disclosed that he has ever struggled with serious drug issues or had to go to rehab for any substance-related problems.

Adair says past recreational drug use is “not something that is likely to have been raised in a visa interview,” so it was likely not an issue during Harry’s approval process.

“The drug use could be an issue if there had ever been an arrest, charge or conviction, but recreational use would not likely come up in the visa interview,” the Texas-based lawyer concludes.

Leonard agrees, “If he had a criminal charge, it could absolutely affect his status and whether it gets renewed or terminated. But just to say that you indulged in that behavior, the answer is no [it would not affect his status].”

Harry moved to California with his wife, Meghan Markle, and their son, Archie, in early 2020 after quitting the royal family that January.

According to a 2021 article by the Times, the duke has no plans to seek a permanent US residency, citizenship or a “green card at any point.”

A top immigration attorney previously told Page Six that should any issues arise, Markle, 41, who was born in California, could sponsor her husband.

https://pagesix.com/2023/03/21/lawyers-reveal-prince-harrys-drug-use-could-affect-us-visa/

SVB’s Loans to Insiders Tripled to $219 Million Before It Failed

 As Silicon Valley Bank deteriorated late last year and regulators began internally flagging flaws in its risk management, the lender opened up the credit spigot to one group: insiders.

Loans to officers, directors and principal shareholders, and their related interests, more than tripled from the third quarter last year to $219 million in the final three months of 2022, according to government data.

That’s a record dollar amount of loans issued to insiders, going back at least two decades.

The surge in loans to high-up figures may draw scrutiny as the Federal Reserve and Congress investigate the breakdown of Silicon Valley Bank, the biggest US bank collapse in more than a decade. The firm — one of three US lenders to fall this month — collapsed after investors and depositors tried to pull $42 billion in a single day and it failed to raise capital to shore up its finances.

The government reports don’t disclose loan recipients or their purpose, and there have been no allegations of wrongdoing connected to the insider loans.

The Fed takes enforcement action, or refers violations to other regulators, if it finds problems with these loans, said a spokesperson for the central bank, which oversaw SVB before its collapse. A representative for the Federal Deposit Insurance Corp., the receiver for the bank, didn’t respond to a request for comment.

Before regulators seized Silicon Valley Bank on March 10, it had a reputation as the go-to lender for tech companies and the venture capital firms that seeded them. The Fed’s interest-rate hikes last year took a toll on the lender, whose liquidity was tied up in longer-term government bonds that lost value in that environment.

Under federal regulations meant to guard against banking executives getting preferential treatment, banks are only allowed to lend to insiders if they’re given terms similar to those provided to other customers. To help prevent conflicts, regulators require banks to publicly disclose the number of such loans and their value.

In its most-recent proxy statement, SVB Financial Group, the parent company of Silicon Valley Bank before its collapse, said it made loans last year to related parties including “companies in which certain of our directors or their affiliated venture funds are beneficial owners of 10% or more of the equity securities of such companies.”

The bank issued the loans in the normal course of business, and with similar interest rates and collateral as other customers received around the same time, according to the filing. Still, loans in other categories such as real estate and commercial grew at a much slower rate — just over 3% — than those issued to insiders, according to data in separate government reports.

Rate Risks

The loans to executives and other senior figures surged as the bank’s weaknesses came to light.

Late last year, Fed examiners identified a critical problem: the bank needed to improve how it tracked interest-rate risks. The firm had about $15 billion in unrealized losses at year-end on mortgage-backed securities that it loaded up when rates were lower.

The bank had also directed its lending business increasingly toward larger borrowers, including its private equity and venture capital clients. About 63%, or $46.8 billion, of the firm’s lending portfolio was comprised of loans to clients who received at least $20 million, according to SVB Financial Group’s annual report for 2022.

“Our loan portfolio has a credit profile different from that of most other banking companies,” the company said in the report. The firm added that “a significant portion of our loan portfolio is comprised of larger loans, which could increase the impact on us of any single borrower default.”

https://news.yahoo.com/svb-loans-insiders-tripled-219-192013102.html

Zymeworks resumed at Overweight by Wells Fargo

 Target $12

https://finviz.com/quote.ashx?t=ZYME&ty=c&ta=1&p=d

Invitae Partners with Epic to Streamline Genetic Testing

  Invitae (NYSE: NVTA), a leading medical genetics company, today announced its partnership with Epic, an industry-leading healthcare software company.

Through Aura, Epic's specialty diagnostics suite, Invitae will streamline interactions with provider organizations in the Epic community, making test result information available in providers' usual workflows so that it's easier to use genetic insights to inform treatment decisions.

https://finance.yahoo.com/news/invitae-announces-partnership-epic-streamline-113000588.html

Sutro cut to Equal Weight from Overweight by Wells Fargo

 Target to $8 from $15

https://finviz.com/quote.ashx?t=STRO&ty=c&ta=1&p=d

Paratek gets takeover speculation

 

Lilly Trulicity Shortage

 3/21/2023

Dulaglutide Injection

Products Affected - Description

    • Trulicity subcutaneous solution for injection, Lilly USA, LLC, 3 mg/0.5 mL, pen injector, 4 count, NDC 00002-2236-80
    • Trulicity subcutaneous solution for injection, Lilly USA, LLC, 4.5 mg/0.5 mL, pen injector, 4 count, NDC 00002-3182-80

Reason for the Shortage

    • Lilly has Trulicity on shortage due to increased demand.

Available Products

    • Trulicity subcutaneous solution for injection, Lilly USA, LLC, 0.75 mg/0.5 mL, pen injector, 4 count, NDC 00002-1433-80
    • Trulicity subcutaneous solution for injection, Lilly USA, LLC, 1.5 mg/0.5 mL, pen injector, 4 count, NDC 00002-1434-80

Estimated Resupply Dates

    • Lilly has Trulicity 3 mg/0.5 mL and 4.5 mg/0.5 mL presentations on back order and the company estimates a release date of April 2023

Updated

Updated March 21, 2023 by Rachael Freeman, PharmD, BCPS. Created August 19, 2022 by Michelle Wheeler, PharmD, Drug Information Specialist. © 2023, Drug Information Service, University of Utah, Salt Lake City, UT.

https://www.ashp.org/drug-shortages/current-shortages/drug-shortage-detail.aspx?id=862&loginreturnUrl=SSOCheckOnly