Photo: AP Photo/Paul Sakuma
Bloomberg reports that the FBI is investigating Solyndra for accounting fraud, according to a source close to the solar panel company.The report confirms assumptions that the Department of Justice has been looking into whether Solyndra misrepresented the company’s financial situation in order to obtain — and then refinance — a $534 million loan from the federal government.
We’ve previously written that Solyndra executives assured the administration that the company’s future was bright, even as the company’s internal audits showed its finances deteriorating. The company declared bankruptcy earlier this month, prompting the FBI probe, as well as two Congressional investigations.
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