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January 1, Food Truck Business Owner Sentenced Over $1.5M Pandemic Relief Loan Fraud
Loc Vo, owner of a Massachusetts-based food truck business, has been sentenced to two years in prison for fraudulently acquiring approximately $1.5 million in federal COVID-19 pandemic relief loans.
He reportedly used this money to invest in the stock market.
Vo, who owns Smart Gourmet LLC and Indy Publish, submitted loan applications on behalf of these businesses between April 2020 and July 2021.
These loans were requested under three Small Business Administration pandemic relief programs.
The funds were intended to cover rent, mortgage interest, payroll, and utilities, among other eligible expenses, according to prosecutors.
Despite the intended use of the funds, the 56-year-old Vo allegedly transferred most of the money into brokerage accounts under his name.
From there, he invested in multiple businesses, including an electric car manufacturer, an internet marketplace company, and a biotechnology company, as reported by federal prosecutors.
In addition to his prison sentence, a federal judge in Boston sentenced Vo to two years of probation and ordered him to pay more than $1.5 million in restitution and forfeiture.
Vo, who was arrested in July 2022, pleaded guilty to wire fraud in January.
Vo had applied for the loans under the CARES Act, legislation enacted in March 2020 to provide emergency financial assistance to Americans affected by the economic impacts of the pandemic.
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Billy D. Hyatt
August 8, 2023 at 7:59 pm
Fair easement
kurt gandenberger
August 8, 2023 at 8:01 pm
i hear the total fraud is in the 100’s of billions with some of the money going overseas. the US government is not competent to handle large sums of money. the only things they do well is kill innocent people and jail political opponents.
Captain Kublai
August 8, 2023 at 9:05 pm
Kurt, Very perceptive comment regarding the biggest gang in existence — not the Crips, not the Bloods, but organized “government”.
Norman Scott
August 11, 2023 at 7:01 am
Biblically speaking. The US is named as the 7th world power “King” according to the successions of world powers, since Rome was #6 in succession of Kings. Prophecy speaks of an 8th king will come on the scene and to rule for a very short period of time, and the 7th King, the US due to its social break down, and the corruption of its ruling class becomes weak to stand alone as it once did, to stay alive it will give support to the 8th. King.
So the demise of the US has been predicted, and on time it’s coming to be fulfilled.
Looking at the cause of the down fall of the Roman Empire “6th King” was its social breakdown and lack of trust of its ruling class. Thus history repeats itself and no one is taking a lesson from history. Some who are interested in these prophecies are not shocked by what it’s taking place
Noah’s flood was due to violence, Sodom and Gomorrah was destroyed due to its blatant homosexual activities.
Do we see these traits in our community today?
Our Cities are rife with blood shed, our school children are being indoctrinated into alternative life style. It is not going unnoticed. Brace yourself, worse is yet to come.