The settlement is not an admission of guilt.
SolarCity, a company acquired by Tesla last fall, has agreed to pay the U.S. Treasury $29.5 million to resolve allegations that it lied to the federal government and overinflated its costs to receive higher stimulus funds than it deserved, the Justice Department announced Friday.
The settlement, which is not an admission of guilt, resolves a longstanding dispute with the solar energy company, owned by billionaire Elon Musk.
Congress and the Treasury Department’s Office of Inspector General have spent five years investigating SolarCity, the largest provider of residential solar panels in the nation, and other renewable-energy companies. – READ MORE
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