John Solomon reports that federal investigators have opened up 1900 investigations into fraud associated with the president's economic stimulis plans. You can make that 1901.
SolarCity, a multiple recipient of "green energy" grants, loans and contracts, is being received a subpoena in July from the Office of the Inspector General of the U.S. Department of Treasury to determine whether the company was part of a scam to inaccurately stated the fair-market value of their PV systems when applying for funds under the Treasury's Section 1603 cash-grant program.
"The Department of Justice could decide to bring a civil action to recover amounts it believes were improperly paid to us," SolarCity writes in its SEC filing. "If it were successful it asserting this action, we could then be required to pay damages and penalties for any funds received based on such misrepresentations."
SolarCity's CEO is Elon Musk. Musk has made a career of making political contributions to the Obama campaign and, in exchange, getting cash back from the taxpayers.
Musk's electric car company Tesla received millions from the Department of Energy and his futuristic space company SpaceX is getting contracts from NASA.
It should come as no surprise to discover Musk has given the bulk of his money to Democrats donating $290,000 to political candidates and the major parties from 2008 through this year, which included $66,200 to the Democratic National Committee and $34,400 to the Democratic Senatorial Campaign Committee, His presidential candidate was Barack Obama, giving $2,300 for his 2008 campaign and $5,000 for the 2012 cycle.
Musk as a classic case of an Obama crony capitalist. His contributions have turned into hundreds of millions of dollars in government largess that in turn made his exceedingly rich. In fact, he plans to take SolarCity public with an IPO in the near future. The only thing standing in his way from another taxpayer-supported payday is the Treasury Department and the IRS.
