Terry McAuliffe, the Democrat candidate for governor in Virginia, is in trouble. No, it is not the polls; those are close and many show him leading Ken Cuccinelli, the Republican. No, it is not a Weiner/Spitzer/Filner typical Democrat sex scandal. This time it is an investigation by the SEC into whether or not a company McAuliffe founded and ran (prior to the campaign) defrauded investors. Here is the way the Washington Post describes the story:
The SEC subpoenaed documents in May from GreenTech Automotive and bank records from a sister company, Gulf Coast Funds Management of McLean. The investigation is focused, at least in part, on alleged claims that the company “guarantees returns” to the investors, according to government documents.
GreenTech has sought overseas investors through a federal program that allows foreigners to gain special visas if they contribute at least $500,000 to create U.S. jobs. Gulf Coast, which is run by Anthony Rodham, the brother of former secretary of state Hillary Rodham Clinton, seeks investors for GreenTech and arranges the visas.
It seems that what McAuliffe was allegedly selling to investors was a legal way into getting a green card in the USA rather than a real investment in green technology. The tie to Hillary's brother is just an added attraction.
It seems clear that the first thing that voters should look for in a candidate is basic honesty and the ability to obey the law. Given the SEC investigation, the voters of Virginia may want to think twice before they vote for McAuliffe.
The SEC subpoenaed documents in May from GreenTech Automotive and bank records from a sister company, Gulf Coast Funds Management of McLean. The investigation is focused, at least in part, on alleged claims that the company “guarantees returns” to the investors, according to government documents.
GreenTech has sought overseas investors through a federal program that allows foreigners to gain special visas if they contribute at least $500,000 to create U.S. jobs. Gulf Coast, which is run by Anthony Rodham, the brother of former secretary of state Hillary Rodham Clinton, seeks investors for GreenTech and arranges the visas.
It seems that what McAuliffe was allegedly selling to investors was a legal way into getting a green card in the USA rather than a real investment in green technology. The tie to Hillary's brother is just an added attraction.
It seems clear that the first thing that voters should look for in a candidate is basic honesty and the ability to obey the law. Given the SEC investigation, the voters of Virginia may want to think twice before they vote for McAuliffe.
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