Mississippi's state auditor on Wednesday demanded that a troubled electric car maker or its leader repay $4.9 million in state and local aid the company received, plus $1.5 million of interest. Peter Huddleston, chief financial officer of GreenTech parent company WM Industries Corp, wrote in an email that GreenTech had received the demand letter. Besides the $3 million loan, Mississippi loaned Tunica County $1.9 million to buy the site and exempted the company from income, franchise and sales taxes. Pickering said the demand letter could lead to a civil lawsuit by Mississippi against GreenTech and its officers to recover the money. Mississippi is still trying to get $77 million back from the failure of biofuel maker KiOR, and lost more than $8 million when solar equipment maker Twin Creeks failed.

Source: ABC News July 06, 2017 00:00 UTC