A federal prosecutor in Washington, DC, told a judge this month that his office didn’t have evidence of any crimes by Federal Reserve Chair Jerome Powell in a costly renovation of the central bank’s headquarters – despite subpoenas over the matter, which the judge later quashed.
At a high-stakes hearing on March 3, the prosecutor, George A. Massucco-LaTaif, was asked, “What evidence is there of fraud or criminal misconduct in relation to the renovations?”
“We do not know at this time,” Massucco-LaTaif responded, according to a now-unsealed transcript of the court proceedings. “However, there are 1.2 billion reasons for us to look into it.”