Drudge Retort: The Other Side of the News
Tuesday, February 27, 2018

The electric car company founded by former Gov. Terry McAuliffe filed for Chapter 11 bankruptcy this week, blaming in part a wave of negative coverage by a conservative news website for its financial woes.

GreenTech Automotive's bankruptcy petition cites 76 articles by the website Watchdog.org it says "negatively affected governmental, investor and public perception of GreenTech" and prompted investigations by the Securities and Exchange Commission and the Department of Homeland Security.

GreenTech in 2013 sued Watchdog.org, operated by the Franklin Center for Government and Public Integrity, for $85 million. A judge dismissed the case in 2014.




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Recently the company has faced a series of lawsuits filed by investors in the company, who have called GreenTech a "scam perpetrated by savvy and politically connected operatives and businessmen" to exploit Chinese immigrants hoping to come to America.

The bankruptcy filing cites a $7.5 million judgment won by 12 investors and says several similar suits are pending.

According to its bankruptcy filing, GreenTech raised $141.5 million from investors between 2009 and 2013 as part of the EB-5 visa program, which offered immigrant investors permanent residency.

GreenTech blames U.S. Sen. Chuck Grassley, R-Iowa, who raised national security concerns related to GreenTech's use of the visa program, as well as a 2015 lawsuit filed by an automotive parts company and litigation launched by the State of Mississippi.

"As a result of these significant adverse developments, as well as internal factors such as personnel issues and manufacturing and other difficulties in pursuing GreenTech's ambitious business plan, the Debtors are faced with severe economic hardship," the filing says.


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I wonder where we have heard the "it's someone else's fault" deflection from McAuliffe before???

#1 | Posted by Rightocenter at 2018-02-27 07:29 PM | Reply

there were hundreds of chapter 11 filings last year, (like 700+) what makes this one any different?

What is interesting is that chapter 11 filings have spiked 107% since Trumpz was elected

Must be someone else's fault

#2 | Posted by ChiefTutMoses at 2018-02-28 09:29 AM | Reply


Well done CocoCheif, you managed to post a deflection without an Ad Hominum attack.

Glad to see that the Meds are working again.

#3 | Posted by Rightocenter at 2018-02-28 01:17 PM | Reply

"Well done CocoCheif"

cant say the same about you.

so, what is so special about this filing over the other filings that spiked 107% after trumpy took office?

#4 | Posted by ChiefTutMoses at 2018-02-28 02:35 PM | Reply

Damn republican capitalist just can't handle it. Get a real job terry and quit sucking off the government ---.

#5 | Posted by Sniper at 2018-03-01 09:02 AM | Reply

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