Monday, August 5, 2013

Terry is on the Ropes

His campaign has denied all knowledge of an investigation, and say that this has nothing to do with their candidate, but Terry's actions as Chairman of Green Tech are EXACTLY what the SEC is probing into. 

The company's use of the EB-5 Visa program, a federal program aimed at wealthy foreign wallets and offering green cards in exchange, has come under fire. The program is highly questionable within itself, but past that, these incentives are saved for the specific purpose of creating jobs, and stimulating economic growth through investment, which are things that McAuliffe's "company" simply has not produced. 

I call it a company. It is really more of a visa mill. Since it employs few more than 100 people, and has not produced one ready for sale vehicle, it is basically a ghost company; eating foreign funds, churning out more visas than cars. The EB-5 program has been hotly debated by legislators as: 1) a weak point in the immigration system, possibly being an opening for dangerous individuals to enter the country, and 2) a scam by failing businessmen that can take investment money for the visas and mislead investors. 

Not only is Green Tech under investigation, but Gulf Coast Funds of McLean (funny title for its location) which is run by Anthony Rodham, long-time friend of McAuliffe's and brother of Hillary Rodham Clinton, is also being looked into. The SEC is looking into Green Tech's return-on-investment (or lack thereof, more specifically) to his foreign investors, and just who those investors are. 

This gets stickier by the minute when you take into account that Green Tech was a company that Terry BOUGHT solely to beef up his political resume, oh and also as a FUNDRAISING BLITZ THAT GOT HIM OVER 80,000 DOLLARS IN 2009. , that actually backfired and to this day is an albatross around that candidate's neck because he failed to deliver anything even close to what he was promising, to people he did not make that promise to. 

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