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Sheriff details events leading up to Floyd Co. mass shooting

FLOYD COUNTY, Ky (WSAZ) — During a press conference Sunday, Floyd County Sheriff John Hunt shared events that led up to a violent, deadly standoff that occurred Thursday evening in the community of Allen.

The incident described by officials as a ‘war zone’ claimed the lives of three officers, a K-9 officer and injured four other people, including additional police officers.

Lance Storz is in the Pike County Detention Center on a $10 million cash bond facing several charges, including two counts of murder of a police officer. He also faces charges in connection with the death of K-9 Drago who served with the Floyd County Sheriff’s Department. A not guilty plea was entered on Storz’s behalf during a virtual court hearing.

Floyd County Sheriff John Hunt said Sunday the incident began Thursday, June 30 after the sheriff’s office received a phone call about a woman being held against her will.

When deputies arrived at the home in question near the intersection of Main Street and Railroad Street for a welfare check, a woman was waiting outside and ran to their cruisers, according to Sheriff Hunt.

The woman told deputies Lance Storz was inside the home and she was only able to leave because he was asleep.

Deputies retrieved the woman’s daughter who was at another home and took them both to a safe place, Sheriff Hunt reports.

While being interviewed, the woman accused Storz of taking her phone and holding her hostage inside the home for days.

Sheriff Hunt said the woman told deputies the only time she was able to use a phone was when Storz was sleeping. That is when she said she was able to contact a relative for help. That relative then called the sheriff’s department, Sheriff Hunt says.

Following the woman’s interview with officials, an Emergency Protection Order was filed.

Details about why protective order filed against mass shooting suspect

The woman accused Storz of emotional and physical abuse, including rape. She also warned deputies by telling them that Storz had guns inside the home, the press conference Sunday revealed.

“The woman did say that Mr. Storz had firearms in the house. Deputies didn’t know at that time, obviously how many or to what extent his training was or if he had any,” said Sheriff Hunt.

An examination at the hospital did show signs of physical assault, deputies say.

Sheriff Hunt said Sunday a total of four deputies went to the home Thursday to serve the Emergency Protection Order and arrest Storz for fourth degree physical assault.

Deputies got their first glimpse of Storz in a window behind blinds when they first approached the home.

Deputy William Petry, a victim of Thursday’s shootout, was the first to go up to the house, Sheriff Hunt reported.

Hunt said Storz opened the door ‘like he had been waiting for police’ and started firing.

Sheriff Hunt tells WSAZ.com Storz was wearing a bullet proof vest and backpack when he started firing at police.

“The suspect opened the door like he had been waiting for them,” said Hunt. “He knew they were coming.”

Sheriff Hunt said at least one officer was forced to hide underneath his police vehicle for hours to avoid being shot.

“Deputy Lawson would have been the fourth car,” said Hunt. “Deputy Hall was the third car. Deputy Hall was able to roll out of his car and he was to the rear of the K-9 vehicle driven by deputy Newsome. Deputy Hall rolled under the car and remained hidden there for hours to come. When Deputy Lawson rolled out of his vehicle he was immediately shot.”

Names of others injured in mass shooting released

Deputy William Petry with the Floyd County Sheriff’s Department, Capt. Ralph Frasure with the Prestonsburg Police Department and Prestonsburg Police Officer Jacob R. Chaffins all died as a result of their injuries sustained during the shootout.

Three law enforcement officers were shot and killed in the line of duty Thursday.(WSAZ)

For previous coverage >>> CLICK HERE.

A vigil is planned Sunday evening to honor Petry, Frasure and Chaffins at the Prestonsburg High School.

TAP HERE FOR VIGIL INFORMATION

Officials described Thursday’s shooting as the deadliest law enforcement death in Kentucky since the prison riot in Eddyville in 1924 and the deadliest law enforcement event to happen in Eastern Kentucky.

This is a developing story.

Keep checking the WSAZ app for the latest information.

GCC banks: Domestic deposits remain robust despite disruptive events

Banks in the Gulf Cooperation Council (GCC) states have remained stable despite political disruptions, which tend to trigger risk aversion among investors, prompting higher funding costs or even capital outflows from the system, according to a new report by S&P Global.

For GCC banks, “the largest funding item–private domestic deposits–has increased year-on-year over the past three decades despite a series of disruptive regional events, including Yemeni civil wars, the Arab Spring uprisings, the Iraq War, Qatar boycott, and several Houthi missile attacks,” said analysts Benjamin Young and Mohamed Damak in the report.

The report pointed to four contributing factors that explain how GCC banking systems preserved deposit stability and maintained trend growth despite numerous geopolitical shocks.

Expatriates dominate the population, but not bank accounts: Although foreign residents comprise about 90 percent of the populations in Qatar and Dubai, they represent a far smaller percentage of retail deposits. In contrast, non-national retail deposits in Kuwait and Saudi Arabia represent less than 20 percent of the total because incentives for retaining out-of-contract migrant labor are less common, the ratings agency said.

Oil revenue has supported public spending, corporate development and population growth: Economic development policies backed by oil revenues have pulled vast amounts of expatriate labour to the region and incentivized corporate expansion, which has supported deposit growth.

Depositors from higher-risk countries add to stability: The stability of most GCC banking systems has led them to be seen as safe havens for savings,

investments, and business development from less stable countries in the wider Middle East and sub-continental Asia. While lower-paid migrants tend to be structural remitters, higher-paid workers are encouraged to retain wealth by the host. “The growth of the latter could increase deposit instability but can also be an important funding item if linked to longer-term incentives,” S&P said.

Wealthy public sectors also support bank deposit stability: In the GCC, income from the sale of oil and gas underpins public sector deposit growth, which is generally routed through national oil and gas companies. Oil revenue has facilitated the development of some of the world’s largest sovereign wealth funds which have continued to earn returns during periods of low prices, the report said.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@lseg.com