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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.

The Energy Department loan guarantee has been under investigation since at least June this year. Solyndra filed for Chapter 11 bankruptcy last week.

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.

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