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GreenTech Electric Car Co. Co-founded by Dem VA Gubernatorial Candidate Terry McAuliffe Being Investigated by SEC

Watchdog.org has provided extensive coverage of Terry McAuliffe’s alleged GreenTech scam whereby the prospective Democrat candidate for Virginia Governor allegedly scammed investors by implying their investment could fast-track their approval for US visas.

Now, the Washington Post has finally jumped on the scandal, emphasis added:

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.

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