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Company with ties to Terry McAuliffe is under SEC investigation
Posted by: Terry McMoney ()
Date: August 02, 2013 04:20PM

Company with ties to Terry McAuliffe is under SEC investigation

By Tom Hamburger and Ben Pershing, Updated: Friday, August 2, 3:45 PM

2013-05-17T140411Z_01_TOR600_RTRIDSP_3_U


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.

In recent months, the SEC has stepped up its scrutiny of companies that use the visa program, largely over concerns that investors may have been misled or defrauded by the companies seeking their money. The visa program has also raised national security concerns from some lawmakers, who are worried that suspect individuals are using it to gain entry into the country.

The full focus of the SEC investigation into GreenTech and Gulf Coast is not known, and officials from the SEC declined to comment.

A spokesman for McAuliffe’s campaign said that the candidate “has no knowledge of any investigation,” which appears to have started in early 2013, according to Homeland Security Department documents. McAuliffe resigned as chairman of GreenTech in late 2012 as he began his run for governor — although he did not publicly reveal that he had done so for several months.

Some of the details about the SEC’s concerns are contained in nearly 100 pages of internal DHS documents and e-mails obtained by Sen. Charles E. Grassley (R-Iowa), a critic of the visa program.

Representatives of both GreenTech and Gulf Coast, which share office space in Tysons Corner, confirmed Thursday that they had received subpoenas from the SEC for documents and said they planned to cooperate with the investigation. They declined to elaborate further.

The new issues surrounding GreenTech are likely to create fresh political problems for McAuliffe, who launched the company after his failed 2009 bid for governor in part to burnish his credentials as a businessman and job creator.

McAuliffe initially pledged to build a factory “right in the heart of Virginia,” but the company instead set up shop in Mississippi after getting generous incentives from that state and local governments. Joining McAuliffe for the July 2012 ribbon-cutting were a top DHS official, then-Mississippi Gov. Haley Barbour (R) and former president Bill Clinton.

McAuliffe’s close ties to the Clintons have fueled his political career — during the Clinton presidency he was often referred to as “first friend.”

McAuliffe said last year he thought GreenTech could build 10,000 cars in 2013. Only a fraction of that number has been built, and McAuliffe rarely mentions the company on the campaign trail.

[continues...]

http://www.washingtonpost.com/politics/company-with-ties-to-terry-mcauliffe-is-under-sec-investigation/2013/08/02/da483b36-f956-11e2-b018-5b8251f0c56e_story_1.html

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Re: Company with ties to Terry McAuliffe is under SEC investigation
Posted by: Cooch Bell ()
Date: August 02, 2013 04:50PM

Everytime a cooch bell rings, another company pays for his first class tickets around the world and things that can't be undone... except if Cooch wanted to pay for them of course.

images?q=tbn:ANd9GcQ7Gb4qV3d77x55W1WcvLZscientist.jpg

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Re: Company with ties to Terry McAuliffe is under SEC investigation
Posted by: Terry McShady ()
Date: August 02, 2013 05:07PM

Cooch Bell Wrote:
-------------------------------------------------------
> Everytime a cooch bell rings, another company pays
> for his first class tickets around the world and
> things that can't be undone... except if Cooch
> wanted to pay for them of course.
>

^ Sorry, dumb crap like that isn't going to help McAuliffe with the SEC.


Terry's non-union plant in MS after spending $5 million in tax payer money and laying off workers at the temp facility.

Site.jpg

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Re: Company with ties to Terry McAuliffe is under SEC investigation
Posted by: Washington Post ()
Date: August 02, 2013 05:36PM

McAuliffe already spent over $2 million in negative ads against Cuccinelli, and it all goes up in smoke after one Washington Post article.

"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."

"Some of those concerns center around Huawei Technologies, a privately-held electronics conglomerate with close ties to the Chinese government that has raised national security concerns. The documents... show that an executive for Huawei applied for a visa through Gulf Coast by investing in Green Tech."

"Representatives of both GreenTech and Gulf Coast, which share office space in Tysons Corner, confirmed Thursday that they had received subpoenas from the SEC for documents"
Attachments:
Terry!.jpg

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Re: Company with ties to Terry McAuliffe is under SEC investigation
Posted by: Terry McChinajobs ()
Date: August 02, 2013 06:02PM

Ground breaking at the 15 million sq. ft. primary production plant in China:

greentech-ordos.png


"The Chinese plant described by McAuliffe is 50 times bigger than the 300,000-square-foot car-assembly facility GreenTech has pledged to build in Tunica, Miss.

“Terry McAuliffe has deceived voters and the government about his desire to create American jobs. While (the field for his) plant in Mississippi sat vacant, he flew to China to build a plant and send jobs there,”

Huh? Don't believe it? Well, hear about it from Terry himself:

http://www.youtube.com/watch?v=ENhuvJwLLRw

lol

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Re: Company with ties to Terry McAuliffe is under SEC investigation
Posted by: 3YcU3 ()
Date: August 02, 2013 09:21PM

The guy is such a scumbag.

He makes used car salesmen and late-night TV preachers look good.

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Re: Company with ties to Terry McAuliffe is under SEC investigation
Posted by: Bad ()
Date: August 02, 2013 09:24PM

3YcU3 Wrote:
-------------------------------------------------------
> The guy is such a scumbag.
>
> He makes used car salesmen and late-night TV
> preachers look good.


And Mcauliffe doesn't seem much better.

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Re: Company with ties to Terry McAuliffe is under SEC investigation
Posted by: amo ()
Date: August 02, 2013 09:36PM

What an idiot. Too bad he's going against Cuccinelli. Otherwise I wouldn't vote for him. Cooch = Crazy

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Re: Company with ties to Terry McAuliffe is under SEC investigation
Posted by: Tray von Martin ()
Date: August 06, 2013 04:09PM

I'll take the Kookster over MacAuful any day.

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Re: Company with ties to Terry McAuliffe is under SEC investigation
Posted by: tmclm ()
Date: January 12, 2019 03:29PM

tmclm

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