Bankrupt "Abound Solar" Touted By Obama in 2010 Now Under Criminal Investigation

From Fox Nation

In his weekly radio address on July 3, 2010, President Barack Obama announced that “the Department of Energy is awarding nearly $2 billion in conditional commitments from the Recovery Act to two solar companies.” Neither of them was named Solyndra.

One of the two companies Obama did name was Fort Collins, Colorado-based Abound Solar, which Obama touted as a company which would create “more than 2,000 construction jobs and 1,500 permanent jobs” at two new plants which “When fully operational … will produce millions of state-of-the-art solar panels each year.” As Amy Oliver detailed at Townhall a year ago, Abound is a classic case of Obama bundler cronyism. In July, just shy of two years after Obama’s address, the company, which benefited from $400 million of Department of Energy loan guarantees, filed for bankruptcy. Yesterday, a Colorado District Attorney announced a criminal investigation.

Read more here.

  • NEILIO

    Give me 400 million dollars, I’ll crate a bunch of jobs. Well mainly housecleaning and wait staff, personal assistant, driver, ooh probably a pilot, groundskeeper, accountant……. etc. There may not be a lot of jobs created but they would last a heck of a lot longer than a year or two.

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