Posted on 09/29/2011 2:19:56 PM PDT by sunmars
Bloomberg reports that the FBI is investigating Solyndra for accounting fraud, according to a source close to the solar panel company.
The report confirms assumptions that the Department of Justice has been looking into whether Solyndra misrepresented the company's financial situation in order to obtain — and then refinance — a $534 million loan from the federal government.
We've previously written that Solyndra executives assured the administration that the company's future was bright, even as the company's internal audits showed its finances deteriorating. The company declared bankruptcy earlier this month, prompting the FBI probe, as well as two Congressional investigations.
(Excerpt) Read more at businessinsider.com ...
Maybe they will find those DOJ gun runners while they are at it.
Sounds like a potential CYA for the Obama administration. “Oh, look, they lied, how could we possibly have known!”
FBI is under Holder. Do you think this is a real investigation or are they testing new shredding devices?
Under the bus for Solyndra, as the Administration will NEVER take the fall. (Hopefully, in 2012 they'll begin prosecutions)
That and the DOJ investigation gave those Solyndra fellows the perfect opportunity to plead the Fifth, didn’t it.
How conveeeeenient!
Bingo....GMTA
still gonna look like one big ole flustercluck for them, it could get very very sticky indeed and will run and run, i think.
Funny, I seem to remember that the - horrible, shudder (/s) - BOOSSHHH Administration saw enough on the books to deny Solyndra a monster loan guarantee!
however Pricewaterhousecooper are not going to sit quietly back, they were the ones accounting, if they didnt notice and from i remember, its already documented that they warned the Obama administration, so this could get very very interesting.
George Bush called it "the soft bigotry of low expectations."
If the FBI is really investigating accounting fraud, they should simply cross reference Recovery.gov with Democrats.org.
Bingo! This is obama cya all the way!
This gets stranger and stranger. They tried to get a loan from the Bush administration, and they were turned down (because analysis revealed that they had a bad business model and would run out of money in September, 2011, which is exactly what happened).
Since they got negative reports from just about everybody, I can’t understand why the Obama administration then handed over something like twice the earlier amount, completely disregarding the earlier analysis, or why the CEO’s persisted on their course.
I think there must have been more in it for Obama than the dubious announcement that he had “created” a job or two; it does appear that there was some involvement of the California Democratic Party in the money end of this, so possibly he was actually going to use this as a funding conduit. And as for the CEOs, I don’t see why they continued, unless they had been guaranteed by Obama that it would all be fine because there’d be more money in the pipeline later.
Is there any personal connection between Obama and any of the Solyndra people?
I just want an big Obama scandal to blow up say, next Summer. It would be amusing to see the MSM trying to ignore it. At some point, they would look so foolish they would have to cover it.
The FBI is still looking for the person who gave the 500 FBI files to the CLINTON WHITEHOUSE. DON’T HOLD YOUR BREATH WAITING FOR ANY RESULTS FROM THE FBI.
Don’t stop with Solyndra. It’s just the tip of the BS pile.
What fraud??? The feds knew they were bankrupt and made the loan anyway. What a bunch of cr*p!!
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