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Solar Panel Company Target Of FBI Raid

September 14, 2011 by  

The FBI agents had responded to the multipile search warrants that were out for the company following a joint investigation by the organization and the Energy Department. A team of FBI agents executed search warrants at the California headquarters of Solyndra, LLC, a company that was awarded more than $500 million in Federal stimulus loans in 2009, according to The Washington Times.

The search warrants were issued following a joint investigation by the FBI and the Energy Department. Lawmakers noted the mistake in trusting companies like Solyndra, a business that received praise from President Barack Obama last year, reported the newspaper.

“There is much to learn as the investigation moves forward, and it is imperative that American taxpayers are not paying the price for the sins of Solyndra,” said Representative Fred Upton (R-Mich.) in a statement.

Other Republican leaders noted that the FBI raid was symbolic of the failure that was the stimulus package, a mistake that is being paid for by the American taxpayers, according to Politico.

The news outlet reported that President Obama had gone as far as to say that the company represented the ideals of what American businesses should be and that Solyndra was an engine of economic growth.

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