SOLARGATE: Solyndra CEO Resigns Amid Fraud Investigation

solyndra solar

Solyndra CEO Brian Harrison has left the company, after refusing to answer questions from Congress over the solar company’s disastrous bankruptcy that left taxpayers on the hook for hundreds of millions of dollars.

Harrison’s resignation is apparently a concession to the U.S. Justice Department, which is investigating whether Solyndra misrepresented the company’s financial situation in order to obtain — and later refinance — a $534 million loan from the federal government.

The company’s epic collapse has become a major thorn in the side of the Obama administration, which now faces a Congressional investigation into whether the Solyndra loan was politically motivated.

After Harrison and Solyndra CFO W.G. Stover refused to testify before Congress, the DOJ filed a motion to appoint a trustee in the company’s bankruptcy case, noting that concerns that executives would not be forthcoming about Solyndra’s operations.

The San Francisco Chronicle reports that the company is now looking to replace Harrison with Todd Neilson, the former bankruptcy trustee for Mike Tyson and Suge Knight.

DON’T MISS: 8 Red Flags The Government Totally Ignored In the Solyndra Disaster

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