Solyndra

Solyndra was a manufacturer of cylindrical panels of CIGS thin-film solar cells based in Fremont, California. The company has since suspended all of its operations as of August 2011 leaving behind the United States government as its largest creditor of uncollected debt obligations.
In May 2010, the company was personally promoted by President Obama in his visit as a model for government investment in green technology. Months later, the company ceased all business activity and announced its plans to file for Chapter 11 bankruptcy. Additionally, his administration approved a $535 million loan guarantee to Solyndra, claiming that it would create 4,000 new jobs. However, due to overseas price pressure coming from China in the period of constructing the new plant, the Fab 2, the company was forced to shut-down the original plant, Fab 1, ultimately reducing staff to approximately 1,000 employees at the time of declaring bankruptcy.
It was later revealed that the company's shareholders and executives had made donations to Obama's campaign, and that the company had also spent approximately $500k on lobbying efforts in Washington, DC.
In September 2011, the company was the target of an FBI raid in relation to an investigation being conducted by Department of Energy's Office of the Inspector General.
In June 2011, Time reporter Michael Grunwald claimed that "reports of Solyndra’s death have been greatly exaggerated".
On 31 August 2011 Solyndra announced it was filing for Chapter 11 bankruptcy protection, laying off 1100 employees, and shutting down all operations and manufacturing, while providing no severance for the fired employees, or even providing back due vacation day credit.
On 8 September 2011, Solyndra was raided by the FBI investigating the company.