Abound Solar, the defunct solar-panel manufacturer, is under criminal investigation for possible securities fraud, consumer fraud and financial misrepresentation, the Weld County district attorney’s office said Thursday.
Loveland-based Abound closed its Colorado plant in July and filed for Chapter 7 bankruptcy liquidation in a move that left 125 workers without jobs and taxpayers holding the bag for up to $60 million in defaulted loans.
The securities-fraud investigation stems from allegations that “officials at Abound Solar knew products the company was selling were defective, and then asked investors to invest in the company without telling them about the defective products,” the DA’s office said in a news release. --HotAir quoting Denver Post
Fraudsters and tax-money-tit-suckers. Fits SCOAMF and many of his best pals.