WILMINGTON, Del. — Customer contracts figure prominently in the FBI’s criminal investigation of solar panel maker Solyndra LLC, which went bankrupt despite receipt of more than a half-billion dollars in federal loans, according to testimony on Monday.
A top company official testified in U.S. Bankruptcy Court in Delaware that the FBI’s search warrant affidavit specifically sought information about company contracts.
The official, Ben Schwartz, a vice president and lawyer at Solyndra, was testifying because the U.S. Office of the Trustee said he had refused to answer questions about contracts. His refusal, government lawyers argued, proved that a trustee should be appointed to take over the company.
But U.S. Bankruptcy Court Judge Mary F. Walrath refused, saying
there was no indication of any fraud or mismanagement at the company.
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In 2009, U.S. Vice President Joe Bidem announces on national TV that the Obama Administration has just closed a $535 million (tax payer funded) loan guarantee for Solyndra.
Solyndra was represented as a happy, healthy upcoming "Green Energy" corporation.
The Story of Solyndra & the Obama Administration
The White house monitored the half of a billion dollar loan closely.
The White House pressured officials to hastily finish Solyndra's financial review.
Solyndra was the "poster child" of Green stimulus projects.
Why Solyndra?
A key Solyndra investor was also an Obama campaign donor.
Since 2009, Solyndra officials have visited the White House at least 20 times.
Solyndra benefited from a lower interest rate than other companies received.
Solyndra is now bankrupt and under investigation by the FBI.
1,100 workers have been laid off at Solyndra.
And taxpayers could lose half a billion dollars.
Solyndra.
So bankrupt.
So many questions for the White House.
