Clinton Crony Deal Cratering: GreenTech Misses First Payment to Mississippi on $3 Million Loan
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GreenTech Automotive, the controversial electric car manufacturer co-founded by close Clinton ally Terry McAuliffe, has failed to make the first payment on a $3 million loan from the state of Mississippi.
McAuliffe is now Democratic governor of Virginia. GreenTech was financed in part by EB-5 visas granted to Chinese investors helped through the political approval process by Tony Rodham, Hillary Clinton’s brother.
The Hattiesburg American reported on Monday:
Electric car maker GreenTech Automotive, which once planned to build 250,000 cars a year and invest $2 billion in an impoverished corner of Mississippi’s Delta region, has missed a debt payment to the state of Mississippi.
Mississippi Development Authority spokesman Jeff Rent confirmed Monday that the Tunica County company didn’t pay $150,000 due June 30. That was the first payment on a $3 million state loan.