Report: Business Tied to McAuliffe Under Investigation

August 2, 2013

The Washington Post is reporting that a business started by Terry McAuliffe is now facing an investigation from the Securities and Exchange Commission.

According to the Post, the SEC is investigating GreenTech Automotive in part for claims that the company guaranteed returns to investors.

McAuliffe resigned as chairman of GreenTech in December, although he did not announce that publicly until months later. According to the Post, the SEC subpoenaed documents from GreenTech in May.

This follows calls for an investigation into EB-5 visas, where foreign nationals can gain a visa by investing significant sums in businesses that create American jobs. Several members of Congress have expressed concerns that these visas might be used by people with ties to terrorism to buy their way into the country.

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