Solar Company Obama Championed Now Getting Raided by the Feds

The FBI serves a search warrant to Solyndra on behalf of the Department of Energy

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He probably wishes he could take this one back. The FBI swarmed into the offices of Solyndra on Thursday, the now-bankrupt company that the Obama administration helped award $500 million in federally-backed loans. The San Francisco Chronicle reports:

The search is part of a joint investigation involving the FBI and the Department of Energy's Office of Inspector General, said FBI spokeswoman Julianne Sohn, who declined to elaborate.

Solyndra closed its doors on Aug. 31. It did so without warning and without WARN, a state and federal law requiring advance notice of a large layoff or shutdown. The company has said it was most likely exempt from notifying its 900 full-time and 200 contract workers ahead of time under a loophole in the law, officially known as the Worker Adjustment and Retraining Act.

The company's bankruptcy last week caused a mini-scandal, after revelations that the solar company never had a strong business model even though it's loan was streamlined by the Department of Energy. The fact that one of Solyndra's financial backers gave $50,000 to Obama's 2008 presidential campaign haven't helped the president's image. An FBI spokeswoman told the San Jose Mercury News that "Everything is under seal," as she refused to comment on what the Feds are investigating.

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