The US Securities and Exchange Commission is looking for answers. Specifically, it wants to know whether electric-vehicle startup GreenTech Automotive in any way abused a foreign investor visa program in the development of the quirky little $15,500 MyCar NEV.
The question was raised by Senator Charles Grassley (R-IA), who wrote a letter to Alejandro Mayorkas, the director of US Citizenship and Immigration Services, in which he said whistleblowers raised "questions about your role inproviding preferential treatment for Terry McAuliffe and Anthony Rodham in connection with applications related to Gulf Coast Funds Management and/orGreenTech Automotive." You can find the letter and more in the 97-page collection of documents below.
McAuliffe (D, pictured) is currently running for governor of Virginia and left GreenTech Automotive late last year. According to The Washington Post, the SEC subpoenaed documents from Gull Coast Funds and GreenTech Automotive in May and is investigating the issue because there is the companies may have offered a "guaranteed returns" to their investors. Those returns could have been visas if they contributed at least a half-million dollars to help create US jobs. The SEC is not offering any official comments on the matter.