Treasury Probes $535M Loan To Doomed Solyndra

Law360, New York (September 15, 2011, 7:18 PM EDT) -- The U.S. Department of the Treasury’s inspector general on Thursday launched an investigation into a $535 million government loan to bankrupt Solyndra LLC, adding to the furor over the solar panel maker’s collapse.

Solyndra, once a centerpiece of President Barack Obama’s green jobs initiative, filed for bankruptcy protection earlier in September, prompting a raid by the FBI as well as investigations by the U.S. Department of Energy and Congress into the company’s government backing and sudden failure.

While the other probes center on the propriety of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.