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Mullins Letter

Mullins Letter

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Published by Kenric Ward
To Terry McAuliffe
To Terry McAuliffe

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Published by: Kenric Ward on Jun 27, 2013
Copyright:Attribution Non-commercial

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06/27/2013

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The Richard D. Obenshain Center 
 
 
115 East Grace Street
 
 
Richmond, Virginia 23219804-780-0111 •
 
 FAX 
:
 
804-343-1060P
AID FOR AND AUTHORIZED BY THE REPUBLICAN PARTY OF VIRGINIA
.
CONTRIBUTIONS ARE NOT TAX DEDUCTIBLE
.
 
Republican Party of Virginia
 www.rpv.org 
Dear Terry,Hope this letter finds you well. I know you're busy, out on the campaigntrail. But I hope you can take a few minutes and answer some questions thathave popped up in media reports about GreenTech — specifically, why thecompany was apparently set up from top to bottom in a manner to avoidoversight by the Securities and Exchange Commission.I've known for a long time that Gulf Coast Funds Management, the firm thatyou apparently helped to establish along with Hillary Clinton's brother Hugh Rodham, was soliciting investment in GreenTech from foreigninvestors via the EB-5 visa program. As I understand it, foreign nationalswho invest $500,000 in GreenTech get on the fast track for a green card.What I didn't know, though, was that your company also uses thisinvestment mechanism to dodge most of the SEC disclosure rules thatordinarily attach to firms seeking outside investment. According to theWatchdog.org piece, GreenTech falls under Regulation S — meaning thatas long as it doesn't sell its securities inside the U.S. or to U.S. nationals, itdoesn't have to disclose much information at all that might be relevant toinvestors.Given that you've made your business credentials a key part of your campaign, it's deeply concerning to me that you've apparently used thisregulation to hide key information about the company of which you werechairman, not only from investors, but also from the Virginians who need tomake an informed decision at the ballot box in November. Indeed,information about your company's fiscal health would be very instructivefor voters.Former Gov. Tim Kaine's administration expressed serious reservationsabout your company, and I must say this new information doesn't do muchto put my mind at ease. So, as a Virginian who wants to make an informedchoice at the ballot box in November, I ask:

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