GET WOKE, GO BROKE: GreenTech, the electric car company once led by McAuliffe, files for bankruptcy. “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.”
According to its bankruptcy filing, GreenTech raised $141.5 million from investors between 2009 and 2013 as part of the EB-5 visa program that offered immigrant investors permanent residency.
GreenTech’s filing says that all the investors were advised the investment constituted a risk “and that there were no assurances that the investors would ultimately receive permanent residency in the U.S.”
I’m going to go out on a limb here and guess that GreenTech’s business model relied heavily on having a Democrat in the Oval Office.