Company Founded by Ex-Virginia Governor Files for Bankruptcy - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Company Founded by Ex-Virginia Governor Files for Bankruptcy

Posted: Feb 28, 2018 9:51 AM Updated:

RICHMOND, Va. (AP)- A company founded by former Virginia Gov. Terry McAuliffe has filed for bankruptcy, citing negative press and lawsuits by investors who call it a "scam perpetrated by savvy and politically connected operatives" to exploit overseas investors.

The Richmond Times-Dispatch reports that the bankruptcy filing by the electric car company cites $7.5 million won by 12 investors and pending lawsuits. It says GreenTech Automotive raised almost $142 million from investors from 2009 to 2013 as part of a visa program that offered immigrant investors permanent residency, and says investors were warned the status wasn't guaranteed.

It also says Watchdog.org articles prompted federal investigations and negative attention. GreenTech's 2013 $85 million lawsuit against Watchdog.org was dismissed.

McAuliffe resigned from GreenTech in 2012, but featured the company prominently in his 2013 race.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Dagsboro Family Facilitating Letters to Santa

    Dagsboro Family Facilitating Letters to Santa

    Saturday, November 17 2018 10:47 PM EST2018-11-18 03:47:39 GMT
    Saturday, November 17 2018 10:47 PM EST2018-11-18 03:47:39 GMT
    DAGSBORO, Del.- Children in Sussex County have a very special mailbox to write Santa Claus and receive a guaranteed response. The Malone family set up the North Pole post bin after husband Sean worked in the post office and saw letters to Santa going unanMore
    DAGSBORO, Del.- Children in Sussex County have a very special mailbox to write Santa Claus and receive a guaranteed response. The Malone family set up the North Pole post bin after husband Sean worked in the post office and saw letters to Santa going unanMore
  • People at NASA's Visitors Center React to Rocket Launch

    People at NASA's Visitors Center React to Rocket Launch

    Saturday, November 17 2018 6:40 PM EST2018-11-17 23:40:04 GMT
    Saturday, November 17 2018 6:40 PM EST2018-11-17 23:40:19 GMT
    Rocket Launch Wallops Island (Photo WBOC)Rocket Launch Wallops Island (Photo WBOC)
    Rocket Launch Wallops Island (Photo WBOC)Rocket Launch Wallops Island (Photo WBOC)
    WALLOPS ISLAND, Va. - Did you get up early and watch the launch this morning? Just after 4 am, the Antares Rockets Blasted off from Wallops Island.More
    WALLOPS ISLAND, Va. - Did you get up early and watch the launch this morning? Just after 4 am, the Antares Rockets Blasted off from Wallops Island. More
  • Man Arrested for DUI After Three Car Crash in Centreville

    Man Arrested for DUI After Three Car Crash in Centreville

    Saturday, November 17 2018 5:37 PM EST2018-11-17 22:37:46 GMT
    Saturday, November 17 2018 5:39 PM EST2018-11-17 22:39:58 GMT
    CENTREVILLE, Md.- Maryland State Police say a 28-year-old Centerville man is facing charges after allegedly driving under the influence and causing a car accident late Friday night. Police say around 11:48 p.m. on Friday, troopers were dispatched to RouteMore
    CENTREVILLE, Md.- Maryland State Police say a 28-year-old Centerville man is facing charges after allegedly driving under the influence and causing a car accident late Friday night. Police say around 11:48 p.m. on Friday, troopers were dispatched to RouteMore
  • Most Popular StoriesMost Popular StoriesMore>>

  • New Toll Road to Open on U.S. Route 301 at Delaware State Line

    New Toll Road to Open on U.S. Route 301 at Delaware State Line

    Friday, November 16 2018 6:19 PM EST2018-11-16 23:19:54 GMT
    Friday, November 16 2018 6:19 PM EST2018-11-16 23:19:54 GMT
    MIDDLETOWN, Del. --- The U.S. Route 301 Mainline Project is beginning to wrap up work and lead to the state's first cashless toll road opening in December. The new U.S. Route 301 bypass will take drivers around Middletown and connect them directly to DelaMore
    MIDDLETOWN, Del. --- The U.S. Route 301 Mainline Project is beginning to wrap up work and lead to the state's first cashless toll road opening in December. The new U.S. Route 301 bypass will take drivers around Middletown and connect them directly to DelaMore
  • Man Arrested for DUI After Three Car Crash in Centreville

    Man Arrested for DUI After Three Car Crash in Centreville

    Saturday, November 17 2018 5:37 PM EST2018-11-17 22:37:46 GMT
    Saturday, November 17 2018 5:39 PM EST2018-11-17 22:39:58 GMT
    CENTREVILLE, Md.- Maryland State Police say a 28-year-old Centerville man is facing charges after allegedly driving under the influence and causing a car accident late Friday night. Police say around 11:48 p.m. on Friday, troopers were dispatched to RouteMore
    CENTREVILLE, Md.- Maryland State Police say a 28-year-old Centerville man is facing charges after allegedly driving under the influence and causing a car accident late Friday night. Police say around 11:48 p.m. on Friday, troopers were dispatched to RouteMore
  • UPDATE: Millsboro Man Found Shot to Death

    UPDATE: Millsboro Man Found Shot to Death

    Thursday, November 17 2016 12:11 PM EST2016-11-17 17:11:44 GMT
    Thursday, November 17 2016 11:52 PM EST2016-11-18 04:52:10 GMT

    Police are conducting a death investigation in Millsboro after a man was found dead on a road.

    More

    Police are conducting a death investigation in Millsboro after a man was found dead on a road.

    More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices