Bankrupt Solar Co. That Got DOE Loan Faces Criminal Probe

Law360, New York (October 26, 2012, 9:07 PM EDT) -- A Colorado district attorney launched a criminal investigation Thursday of a bankrupt solar panel maker that received a $400 million loan guarantee from the Obama administration, saying his office was trying to root out securities and consumer fraud.

Weld County District Attorney Ken Buck’s office is probing Abound Solar Inc. but has yet to bring charges against the company or its executives.

The U.S. Department of Energy awarded Abound a $400 million loan guarantee in 2010 to finance manufacturing plants in Longmont, Colo., and Tipton, Ind....
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