Former Virginia Democrat Gov. Terry McAuliffe is a close ally of Bill and Hillary Clinton. He is rumored to be a potential candidate for president in 2020.
Unfortunately for him, his electric car company just went up in smoke.
From Daily Wire:
The electric car company founded by former Gov. Terry McAuliffe — who is prepping to run for the Democratic presidential nomination in 2020 — filed for Chapter 11 bankruptcy this week, blaming negative coverage by a conservative news website.
“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,” Roanoke.com wrote.
GreenTech has battled Watchdog.org for years. McAuliffe’s company sued Watchdog, run by the Franklin Center for Government and Public Integrity, in 2013 for $85 million, but a judge tossed the case the following year. The company has also had lots of legal problems of its own, being hit by lawsuits filed by investors who called GreenTech a “scam perpetrated by savvy and politically connected operatives and businessmen” to exploit Chinese immigrants hoping to come to America.
More from Roanoke Times:
GreenTech reported between $100 million and $500 million in liabilities and listed its assets in the same range.
Among its creditors, GreenTech lists debts totaling $4.8 million owed to the state of Mississippi and Tunica County, which offered economic development incentives to the company to entice the car company to locate its manufacturing facility there.
As outlined in the bankruptcy filing, GreenTech’s troubles don’t stop with negative press coverage.
Sorry, not sorry, Terry.
Blaming conservatives isn’t the answer. Take some responsibility!