FBI Raids Offices of Bankrupt Solar Company
FBI agents searched the offices of recently-bankrupt solar company Solyndra on Thursday, the San Jose Mercury News reports.
The raid is believed to be in connection with Solyndra’s $535 million loan guarantee from the U.S Department of Energy, the newspaper says. At least 30 FBI agents and officials from the Energy Department’s Office of Inspector General took part in the operation.
An FBI spokeswoman confirmed the raid on the property to the Mercury News, but would not elaborate on the reason behind it.
Company executives are expected to testify before Congress in a week’s time as the legislature investigates how a company that President Barack Obama praised could disintegrate so fast. The solar power firm was host to a high-profile visit from Obama in May 2010.
In related news, Solyndra’s former chief financial officer has declined to say whether any potential buyer for the bankrupt company will keep operations on U.S. soil, Reuters reports.
Under questioning at a bankruptcy court hearing, CFO W.G. Stover refused to name either the names or locations of the two companies lined up to potentially buy Solyndra, the news service reports.
Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter
Energy Manager News
- Embracing New Tech Is Key to Greater Energy Savings, Say Experts
- SolarCity: We Have the World’s Most Efficient Rooftop Solar Panel
- Bridgestone Arena in Nashville Switches to LEDs
- Helping Building Automation Grow
- Municipalities Could Combine Small Cell and LED Upgrades
- Holistic Approach to Energy Savings in Dublin, Ohio Schools
- NYC One Step Closer to Net-Zero Energy Goal at Wastewater Treatment Plants
- ‘Better Buildings, Better Plants’ Saves $2.4B Over Five Years