McAuliffe's former car company blames financial troubles on 'adverse publicity' over political connections
0 people likes this
GreenTech Automotive, the electric-car company founded by Virginia Gov. Terry McAuliffe, has blamed bad publicity over the company's previous political connections for its failure to begin repaying a government loan in Mississippi.
GreenTech missed its first payment in June, but Mississippi officials have given the company a Nov. 7 deadline to start paying or run the risk of being taken to court as the state seeks to recoup its $3 million loan to the company to help GreenTech open a plant in Tunica County. No payment had been made as of Monday, according to a spokesman for the Mississippi Development Authority.
McAuliffe stepped down as GreenTech's chairman in late 2012 during his successful second run for governor.
In a letter sent to the Mississippi Development Authority in August, a GreenTech official said the company's financial difficulties are mainly "a consequence of adverse publicity associated with its earlier involvement with political persons and related actions by [United States Citizenship and Immigration Services]."