By on August 6, 2013

Gulf Coast

Neighborhood EV startup GreenTech Automotive and it’s sister company, Gulf Coast Funds Management, which are the subjects of a Securities and Exchange Commission investigation into how they solicited foreign investors seeking EB-5 visas, are also at the heart of a Department of Homeland Security Inspector General’s  investigation of U.S. Citizenship and Immigration Services (USCIS) Director Alejandro Mayorkas. The USCIS-IG is examining Mayrokas’ role in helping those firms secure a job-creating investor’s visa for a Chinese executive. Mayorkas has been nominated by Pres. Obama for the number two position at DHS and would be acting director until the president names Janet Napolitano’s replacement as secretary of Homeland Security. GreenTech/Gulf Coast has been the largest beneficiary of the EB-5 program since 2009, with almost 100 approved and more pending. (Read More…)

By on August 3, 2013 – Richmond, VA News

Electric car startup GreenTech Automotive, which set up a factory in Horn Lake, Mississippi to manufacturer their low speed neighborhood EV called MyCar, is being investigated by the U.S. Securities and Exchange Commission for the way it solicited foreign investors. GreenTech Automotive was co-founded by Virginia gubernatorial candidate Terry McAuliffe, who is a former chairman of the Democratic National Committee. McAuliffe resigned as chairman of GreenTech in late 2012 when he started his campaign. (Read More…)

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