FBI Searches Bankrupt
September 18, 2011
agents have swarmed the headquarters of the recently-bankrupted solar
energy firm Solyndra as part of a joint investigation by the justice and
The agents executed search warrants Thursday at the facility in Fremont,
California, but declined to say what specifically they were looking for.
Solyndra spokesman Dave Miller said the company was unaware of the
search warrants and that he was surprised when he arrived at work and
saw the agents.
Solyndra was once praised by President Barack Obama as a “testament to
American ingenuity and dynamism” and received more than $500 million in
week, the clean energy manufacturer said it was bankrupt, shutting its
operations, and laying off 1,100 workers. The firm said it could not cut
costs fast enough to keep up with Chinese solar panel makers.
Some U.S. members of Congress are calling for Solyndra’s CEO to testify
about what went wrong. One California representative, Democrat Henry
Waxman, said the CEO had told Congress just two months ago that his
company was in a strong financial position.
Republicans have also questioned whether Solyndra received the loans
unfairly because one of its key investors was also a major donor to the
2008 Obama presidential campaign.
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