The sleaze and corruption just oozes out all over. Almost all the Russian investments in US companies during HRC’s time as SOS were ignored and not reviewed. I wonder how the $35 million “invested” in Joule Energy was used. It would be nice to review the auditor’s annual audits of Joule to see what was actually going on there.
Hillary Clinton’s 2016 campaign manager, John Podesta, played a central role in another potential Russian collusion scandal that has not yet been investigated.
Podesta, the former chief of staff to President Bill Clinton, served on the board of Joule Unlimited, a now defunct alternative energy company, from January 2011 to January 2014. He resigned from the company’s board to accept the powerful job of Counselor to President Barack Obama.
During Podesta’s tenure on the board of Joule Unlimited, a significant investment in the company by a firm owned by the Russian government escaped review and scrutiny by the Committee on Foreign Investment in the United States (CFIUS).
In September 2011, eight months after Podesta joined the board of Joule Unlimited, Rusnano, a venture capital fund wholly owned by the Russian government, announced it was investing one billion Russian rubles, $35 million, in the company, which accounted for 46 percent of the $75 million invested in it up to that time from its launch in 2007. Founders Afeyan Noubar and Dr. David Berry invested an estimated $10 million in the 2007 first round. The venture firm Noubar heads, Flagship Ventures – now known as Flagship Pioneering – led a second round investment of $30 million in 2010, as the Boston Globe reported.
Curiously, the CFIUS failed to initiate a review of the transaction despite statutory and administrative guidelines that any such transaction in which a foreign country or foreign company obtained more than a ten percent interest in an American company was reviewable.
“CFIUS has significant discretion to determine when a foreign entity has sufficient control to confer jurisdiction,” according to Overview of the CFIUS Process, a report prepared by the law firm Waltham & Lakins, a leading practitioner before CFIUS:
(snip)
(Excerpt) Read more at breitbart.com ...
Hillary Clinton’s 2016 campaign manager, John Podesta, played a central role in another potential Russian collusion scandal that has not yet been investigated.
Podesta, the former chief of staff to President Bill Clinton, served on the board of Joule Unlimited, a now defunct alternative energy company, from January 2011 to January 2014. He resigned from the company’s board to accept the powerful job of Counselor to President Barack Obama.
During Podesta’s tenure on the board of Joule Unlimited, a significant investment in the company by a firm owned by the Russian government escaped review and scrutiny by the Committee on Foreign Investment in the United States (CFIUS).
In September 2011, eight months after Podesta joined the board of Joule Unlimited, Rusnano, a venture capital fund wholly owned by the Russian government, announced it was investing one billion Russian rubles, $35 million, in the company, which accounted for 46 percent of the $75 million invested in it up to that time from its launch in 2007. Founders Afeyan Noubar and Dr. David Berry invested an estimated $10 million in the 2007 first round. The venture firm Noubar heads, Flagship Ventures – now known as Flagship Pioneering – led a second round investment of $30 million in 2010, as the Boston Globe reported.
Curiously, the CFIUS failed to initiate a review of the transaction despite statutory and administrative guidelines that any such transaction in which a foreign country or foreign company obtained more than a ten percent interest in an American company was reviewable.
“CFIUS has significant discretion to determine when a foreign entity has sufficient control to confer jurisdiction,” according to Overview of the CFIUS Process, a report prepared by the law firm Waltham & Lakins, a leading practitioner before CFIUS:
(snip)
(Excerpt) Read more at breitbart.com ...
