The proprietor of a Massachusetts meals truck enterprise pleaded responsible Tuesday to submitting fraudulent mortgage purposes to acquire $1.5 million in federal pandemic aid funds, federal prosecutors mentioned.
Loc Vo, 55, of Boston’s Brighton part, who was arrested final summer time, pleaded responsible to wire fraud. He faces as much as 20 years in jail at a sentencing listening to set for May 3.
Prosecutors say Vo owned Smart Gourmet LLC, a meals truck enterprise in Massachusetts, in addition to a dormant Maryland firm.
An lawyer for Vo mentioned he acknowledged his purposes for pandemic aid contained false statements and can return about $600,000, the stays of the funds he obtained.
He mentioned Vo misplaced a good portion of the pandemic aid funds on investments he made utilizing his E-Trade and Robinhood accounts.
Powell: Fed not local weather ‘policymaker’
The Federal Reserve has solely a restricted function to play in combating local weather change, Chair Jerome Powell mentioned Tuesday, a stance that places him at odds with environmental activists who’ve pushed central banks worldwide to take steps to limit lending to vitality corporations.
Powell mentioned that sustaining the Fed’s independence contains steering away from points which can be extra correctly overseen by elected officers.
“Without explicit congressional legislation, it would be inappropriate for us to use our monetary policy or supervisory tools to promote a greener economy or to achieve other climate-based goals,” Powell mentioned throughout a panel dialogue in Stockholm. “We are not, and will not be, a ‘climate policymaker.’ ”
Source: www.bostonherald.com”