Abound Solar Got $400M Fed Loan Despite Low Rating

Share
Copy

Pattern to Energy Loans?

Issa's letter, however, suggests that House Republicans believe the DOE loan to Abound Solar follows a troubling pattern. In addition to raising questions about the degree of risk involved in putting taxpayer funds into Abound, Issa also inquires about the company's political ties to the Obama administration. Namely, Issa notes that a major investor in Abound Solar, the Bohemian Companies, is run by Pat Stryker.

Forbes puts Stryker's net worth at more than $1.3 billion, and Stryker has donated nearly $500,000 to Democrats in the past five years, including $50,000 to Obama's inaugural fund and $35,800 to his victory fund, according to the Center for Responsive Politics.

A message left at Stryker's office in Colorado has not been returned.

Energy Department officials reiterated that the decisions made by loan officials were based on the merits, and never on political considerations.

Click Here to Sign Up for Breaking News and Investigation Alerts From The Brian Ross Investigative Unit

Follow ABCNewsBlotter on Twitter

Two Republican-led House committees have been investigating the Obama administration's green energy loan program, and to date, no evidence has emerged showing loan recipients used political influence to secure their money.

Click Here for the Blotter Homepage.

Page
  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...
See It, Share It
PHOTO: Jodie Foster and Alexandra Hedison attend the Wallis Annenberg Center for the Performing Arts Inaugural Gala presented by Salvatore Ferragamo at the Wallis Annenberg Center for the Performing Arts, Oct. 17, 2013, in Beverly Hills, Calif.
Stefanie Keenan/Wallis Annenberg Center for the Performing Arts/Getty Images for Wallis Annenber
PHOTO: Apple CEO Steve Jobs delivers the keynote address at the 2011 Apple World Wide Developers Conference at the Moscone Center in this June 6, 2011, file photo.
Justin Sullivan/Getty Images