Friday, August 2, 2013

Candidate McAuliffe Under Investigation

Sorry, Democrats in Virginia, it wasn't just a rumor. The case against gubernatorial candidate Terry McAuliffe seems to be substantial, according to the Washington Post. Here's their trailer piece:

"An electric-car company co-founded by Virginia gubernatorial candidate Terry McAuliffe (D) is under investigation by the Securities and Exchange Commission over its conduct in soliciting foreign investors, according to law-enforcement documents and company officials.

The SEC subpoenaed documents in May 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.

Read more at:
http://www.washingtonpost.com/politics/company-with-ties-to-terry-mcauliffe-is-under-sec-investigation/2013/08/02/da483b36-f956-11e2-b018-5b8251f0c56e_story.html"

Drat. I like Ken Cuccinelli for Governor, but I would've liked to see viable electric cars being made, sold, and used in Virginia.