Feds Give Millions to Company Under SEC Investigation

Feds Give Millions to Company Under SEC Investigation

And guess what ?

It's a "green" energy related outfit !!

Their name is Ecotality.

They make battery chargers for electric cars.

They are under investigation by the Securities and Exchange Commission.
(Insider trading)

They received $99,000,000 in 2009 and $26,000,000 in 2011.

Obama praised this outfit in his 2010 State of the Union address.

What are the odds that they file bankruptcy one of these days ?


Breitbart story:

Last Thursday, CBS News reported that Ecotality, a company that makes chargers for electric cars and received millions from the stimulus bill, is under investigation for insider trading:

The company received a subpoena from the Securities and Exchange Commission in October of 2010.

The president of Ecotality North America Don Karner was sent an additional subpoena in December of 2011, which specifically asks for any and all documentation surrounding the public announcement of the first Department of Energy grant to the company for $99.8 million on August 5, 2009.

The government also wants all communication regarding the federal grant from at least four Ecotality employees and two board members including the company's CEO Jonathan Read. Karner was required to supply documents to the SEC by early January.

A company spokesperson told CBS News in an email, "We are cooperating fully with the SEC and have no further disclosures or updates that we are able to provide outside of our public filings."

Ecotality was awarded $99 million in 2009 and an additional $26 million in October 2011. Since the beginning of the grant period in October 2009 the company reported creating 144 jobs according to Recovery.gov .

More Green Waste

reply to post by xuenchen


Give me 125 million and I'll create 144 jobs too.
Where is that forehead slap picture? I need it here.