The company, which recently filed for its initial IPO, has disclosed that it received subpoenas in July from the U.S. Treasury Department. The Treasury Department is investigating whether companies overstated the market value of solar panel arrays they installed when claiming the 30% federal cash grant. The IRS also notified SolarCity that it is auditing two of its investment funds and reviewing the claimed value of solar systems submitted to receive the federal cash grants. ........SolarCity’s founder is Elon Musk; the high-profile billionaire has a history of giving lots of money to the Obama campaign..............."
The Romney Attorney General (Mark Levin?) will have his hands full!