Faraday’s Future faces an audit of the Department of the Treasury

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FF91, the first model, still in prototype stage.

What is certain is that this moment was coming, the Department of Treasury of the state of Nevada, the agency counterpart to our Ministry of Finance, wants to audit the accounts of Faraday’s Future. Or more specifically, check that it has been done and where they had gone to the hundreds of millions of dollars that the company received last year in concept of tax credits.

The head of this agency, Dan Schwarz, is precisely the one who has revealed the intention of this agency to audit the accounts of FF, as well as those of the famous gigafactoría of Tesla, who also received a significant sum from the state.

In fact, it was the Schwarz that requested the audit a few weeks ago, during a meeting of the Committee of the Governor’s Office of Economic Development (GOED). The reason that this claimed to perform this audit is to be able to “to better understand the procedures that are used to give hundreds of millions” of dollars in incentives.

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The first concept of FF.

Among the data that they want to check, are the dates of creation of employment, the amount of money invested in the state of all involved in the projects, the process used by the GOED to qualify the project and the supporting documents related to the same, as well as to assess the true validity of those documents and the information they contain is confidential.

as described by the Department of the Treasury, it appears that more than audit to the companies that requested and received those incentives, who is really investigating is the Committee of the Governor’s Office of Economic Development or GOED, whom Schwarz is now several months accusing them of having granted such tax credits without sufficient research and also, preventing that other institutions could verify the credentials of the applicants. Which in that state is also legal, as there is a law that allows you to mark as confidential the documentation presented, so that there is no opportunity to fix later.

at the moment there is no news of when it could be carried out this audit, but given the trajectory of FF, that continues to accumulate claims for unpaid, we fear that may come to light a few irregularities.Continue passing month, and each time it speaks more of the accounts of FF and less of their vehicles, which for the moment are yet to come.