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| Mississippi to Clawback Funds from Dem VA Gov's Green Car Company |
| 2017-07-16 |
| Mississippi's state auditor has demanded that a troubled electric car company founded by Virginia Gov. Terry McAuliffe repay nearly $6.4 million in public funds after the company failed to deliver on its promises to create jobs. State Auditor Stacey Pickering announced the formal demand to GreenTech Automotive on Wednesday, signaling a new round of problems for the venture McAuliffe left in 2012 during his second run for governor. McAuliffe's office has said the governor has had no involvement with the company since stepping down as its chairman and divesting his financial stake. But the escalating standoff in Mississippi raises the likelihood that the business deal McAuliffe brokered could be headed toward a bitter end in court. Ending his four-year term as governor with a higher national profile and record as an exuberant pitchman for Virginia, GreenTech's unraveling could dog McAuliffe amid speculation about a 2020 presidential bid. In the letter to GreenTech CEO Charles Wang, Pickering asked that the full sum be repaid within 30 days, and warned that failure to pay could result in the state filing a civil lawsuit against the company. The total consists of $5 million in public loans GreenTech received, plus interest and recovery costs. |
| Posted by:lord garth |