[Originally published August 2, 2013]
An electric-car company co-founded by Virginia gubernatorial candidate Terry McAuliffe (D) is being investigated by the Securities and Exchange Commission over its conduct in soliciting foreign investors, according to law enforcement documents and company officials.
In May, the SEC subpoenaed documents from GreenTech Automotive and bank records from a sister company, Gulf Coast Funds Management of McLean. The investigation is focused, at least in part, on alleged claims that the company “guarantees returns” to the investors, according to government documents.
GreenTech has sought overseas investors through a federal program that allows foreigners to gain special visas if they contribute at least $500,000 to create U.S. jobs. Gulf Coast, which is run by Anthony Rodham, the brother of former secretary of state Hillary Rodham Clinton, seeks investors for GreenTech and arranges the visas.
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So 5 years later it is still being investigated???????
ReplyDeleteCan I nerd out for a moment? In 1969 my father bought me a car for $10 that was sitting in a front yard in Easton.At first glance I thought it was a Renault Dauphine when he unloaded it from the trailer,but it was not.It was a Henney Kilowatt electric car built from Renault parts.It would run about 60mph and had a duration of around 60 miles on a charge.After a modest amount of tweaking I had a great car for the next few years.Please excuse my nerding.I only wish I had kept it.It was a 1960 model.Less than 50 were made,which makes me feel like even more of an idiot for letting it go.Duh.
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