McAuliffe’s latest financial filing lists no GreenTech stock

Correction: An earlier version of this story said that Virginia Gov. Terry McAuliffe had been the largest shareholder in GreenTech Automotive. He was the largest individual shareholder. This version has been corrected.

Virginia Gov. Terry McAuliffe (D) sold his stock in the controversial car manufacturer GreenTech Automotive before he took office Saturday, according to a financial disclosure form McAuliffe filed with the state late last week.

McAuliffe also reported that neither he nor his wife is earning wages of more than $10,000 from any company, a shift from a similar form filed while he was a candidate in March. Then, he disclosed that he was paid a salary by GreenTech, the green car manufacturer he co-founded.

Shortly after his November victory, McAuliffe had indicated that he planned to divest himself of his GreenTech stock and place his other substantial assets in a blind trust.

A March 2013 prospectus from GreenTech indicated that McAuliffe was then its largest individual shareholder; he had disclosed that at that time he owned at least $250,000 in stock.

His latest statement of economic interest indicates that he made good on the post-election pledge. It includes no entry for the company among dozens of companies in which McAuliffe is invested.

McAuliffe resigned as GreenTech’s chairman in December 2012. The company is under investigation by the Securities and Exchange Commission, which is trying to determine whether GreenTech improperly used a federal program that grants visas to foreign investors. McAuliffe’s affiliation with the company became a frequent target among Republicans during the campaign.

Virginia law requires that officeholders and their spouses disclose all stock or bond holdings worth at least $10,000.

McAuliffe’s latest form provides a window into the complex investments of a new governor who became a multimillionaire at a young age and who earned $9.5 million in 2012, according to tax information he released during the campaign.

He disclosed 55 separate securities — stocks, bonds and mutual funds — in which he held at least a $50,000 interest. It is a package of securities investments worth at least $9.6 million. Pinpointing McAuliffe’s wealth is difficult because the form requires disclosing the value of investments only within broad ranges.

The form shows that he made a number of transactions since he last disclosed financial information in March.

He acquired between $10,000 and $50,000 in stock in social media giant Facebook. Already heavily invested in municipal bonds, he appears to have shifted more money in recent months into bonds, including new investments in Virginia municipalities.

It is not clear whether those shifts were made by McAuliffe or the trustee of his new blind trust. A spokeswoman who handles inquiries about his finances did not respond to requests for comment late Monday afternoon.

Virginia law requires that new officeholders file a financial disclosure form before taking the oath of office. Sitting officials must file by Jan. 15.

The forms for officeholders at all levels are likely to face increased scrutiny this year as a result of federal and state investigations of financial disclosures by former Gov. Robert F. McDonnell (R).

A spokesman for McDonnell has said he will file his final disclosure form, covering the 2013 calendar year, no later than Wednesday.

McDonnell and his wife, Maureen, were told in December that federal prosecutors intended to press criminal charges against the couple related to their relationship with a Richmond area businessman who provided McDonnell and his family more than $165,000 in luxury gifts and loans while McDonnell was governor.

The decision was put on hold after the couple’s attorneys made a face-to-face appeal to top Justice Department officials in Washington in December.

A Richmond prosecutor is also investigating whether McDonnell complied with state disclosure laws in his financial entanglements with Jonnie R. Williams Sr.

Virginia law allows elected officials to accept gifts of any value, provided they disclose those worth at least $50; they need not disclose gifts provided to their spouses or children.

The General Assembly is now debating whether to tighten Virginia’s gift and disclosure laws, considered some of the most lax in the nation.

McAuliffe has also signed an executive order imposing strict new prohibitions against accepting gifts for the governor and his staff, as well as their families.

The new order prohibits members of the executive branch from accepting gifts worth $100 or more.

In his latest disclosure form, McAuliffe reported receiving no gifts in the last year of $50 or more.

Lt. Gov. Ralph S. Northam (D), who took office Saturday after serving as a state senator, reported four gifts. They included $1,000 in “lodging/apartment” from Thomas Slater, a Richmond area attorney, and $219 worth of lab tests from Richmond’s Health Diagnostics Laboratory.

Northam spokesman Clark Mercer said Slater is a college classmate and Northam stayed in his garage for two months during the legislative session last year.

The lab tests came last year when the company offered blood tests as part of free health risk assessments at the General Assembly Building to legislators and staff, Mercer said.

The then-senator also reported accepting a $60 dinner from Dominion Power and a $55 dinner from the Virginia Maritime Association.

Attorney General Mark R. Herring (D) reported two gifts, a $53 dinner from Virginia Bio, which promotes bioscience businesses, and a $52 reception from the Northern Virginia Technology Council.

Rosalind Helderman is a political enterprise and investigations reporter for the Washington Post.
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