Posted on 02/27/2018 3:34:36 PM PST by Hojczyk
The electric car company founded by former Gov. Terry McAuliffe filed for Chapter 11 bankruptcy this week, blaming in part a wave of negative coverage by a conservative news website for its financial woes.
GreenTech Automotive's bankruptcy petition cites 76 articles by the website Watchdog.org it says "negatively affected governmental, investor and public perception of GreenTech" and prompted investigations by the Securities and Exchange Commission and the Department of Homeland Security.
GreenTech in 2013 sued Watchdog.org, operated by the Franklin Center for Government and Public Integrity, for $85 million. A judge dismissed the case in 2014.
McAuliffe resigned from GreenTech in late 2012 during his run for governor. Early in the campaign, he featured the company prominently as he pitched himself as a deal-making, forward-thinking entrepreneur.
More recently, however, the company has faced a series of lawsuits filed by investors in the company, who have called GreenTech a "scam perpetrated by savvy and politically connected operatives and businessmen" to exploit Chinese immigrants hoping to come to America.
The bankruptcy filing cites a $7.5 million judgment won by 12 investors and says several similar suits are pending.
According to its bankruptcy filing, GreenTech raised $141.5 million from investors between 2009 and 2013 as part of the EB-5 visa program, which offered immigrant investors permanent residency.
GreenTech's filing says all the investors were advised that the investment constituted a risk and that there were no assurances that they would receive permanent residency in the U.S.
GreenTech reported between $100 million and $500 million in liabilities and listed its assets in the same range.
Among its creditors, GreenTech lists debts totaling $4.8 million owed to the state of Mississippi and Tunica County, which offered economic development incentives to the company to entice the car company to locate its manufacturing facility there.
(Excerpt) Read more at roanoke.com ...
but how much did terry make to “funnel under the table” to some other crooked dem operative?
Mr Global Crossing strikes again
And blames this one on a half-vast right wing conspiracy
Podesta went under....now another Clinton crony flops b/c Hillary lost.
God knows how much McAuliffe needed to keep this scam alive if Hillary was “guarding” the US Treasury.
Just part of
THE BIG DEMOCRAT PARTY MONEY RAISING MACHINE!!!
Quinn called this one a few years ago. Ahead of the Rush.
But some folks like Terry, Hillary and John can resist the temptation to blame there 'enemies'.
Hillary has been doing it with her book tour for all of 2017 and 2018. John Podesta did it for a few weeks and then went silent because even the Left Wing Press and Dems are tired of it.
To steal a line from Lesley Gore's song
"And Now it's Terry's turn to Cry, Terry's turn to Cry, Terry's turn to Cry ayah ayah"
If all of the negative publicity impacted this company into bankruptcy, just think of the impact the negative publicity by the fake news media is having on Trump. Without fake news, Trump would be leading the polls by a large majority.
If all of the negative publicity impacted this company into bankruptcy, just think of the impact the negative publicity by the fake news media is having on Trump. Without fake news, Trump would be leading the polls by a large majority.
McAwful said just yesterday that he was the guy that could beat Pres. Trump in 2020.
Ha, ha, ha!!!
A Green, Tech, Investor and Immigrant scam all wrapped up in one. Really, you gotta take off your hat to leftist scam artists, they know how to multi-task!!!
Yeah, but they already got their gazillion million in government grants that funneled through into the pockets of the likes of McAuliffe, so that’s all that matters......
GreenTech was a ripoff from the start. Officials in Virginia’s Economic Development agency knew it at the time and said so. I’ve been privy to their private email exchanges. Virginia officials knew that GreenTech was not going to make vehicles - it was designed as a vehicle whereby McCauliffe would recruit Chinese investors through a regional EB-5 center, hide the investment from Greentech investors, and use it to fund his political ambitions. This is all coming to light now. Keep in mind that while he was advocating this company to receive millions in taxpayer dollars, the man who eventually would be Virginia governor knew the project would locate in Mississippi. The principals securing the Chinese investments were the same principals running Greentech - a brazen effort to essentially scam Chinese investors on one hand, while scamming local taxpayers at the same time.
Not only did Greentech fail to produce a single electric car - it failed to even draw up a single blueprint. Not one. The factory land McCauliffe’s scam outfit acquired (with Mississippi taxpayer funds) sits without a factory, and no signs of intention that one would ever be built.
DOJ, where are you? McCauliffe is asking to be investigated for this Ponzi scheme - do your duty already
Weird, I've always though of him as the Clinton's bag man.
Over $100 million “stolen” from investors!
How much was govt grant money that greased more palms along the way?
McAwful is a scam artist of historic proportion!
I always thought of him as an un-indicted felon.
Maybe there are Chinese “ investors” who don’t like being scammed
>>According to its bankruptcy filing, GreenTech raised $141.5 million from investors between 2009 and 2013 as part of the EB-5 visa program, which offered immigrant investors permanent residency.
Sounds like the main product was a high profile coyote immigration scheme. The rest was just a PC front.
Didn’t McAwful famously profit $17,000,000 from a $100,000 inverstment?
Terry Mac is a deal maker.....
Wonder about that event at Charlottesville that was another Terry Mac deal...... /sarc
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