3 ms·

So the failure was due to circumstances Kior could not have controlled, yet: '"In the suit, Mississippi Attorney General Jim Hood described KiOR as “one of the

So the failure was due to circumstances Kior could not have controlled, yet: '"In the suit, Mississippi Attorney General Jim Hood described KiOR as “one of the largest frauds ever perpetrated on the State of Mississippi."' Something doesn't add up here. The loan was only for $75m, and by this account the founder put in much more than that in his own money. It sounds like MS took a gamble they weren't prepared for and are now trying to get what they can out of it. Fraud doesn't seem to enter into it, but maybe that's just the bias of the article I'm picking up one.

mikeyouse 11y ago
You've got it.. The state help (we looked at it as well) involves making tech predictions about where your yields will be and your cost structure will be in 3-5 years... It's nearly impossible to get these projections right, and the companies are obviously optimistic so when the numbers come up short, it looks like they were lying. I highly doubt there was any actual fraud. It won't matter anyway, the whole point of running a business is to shield the investors from liability, none of our (smaller) incentives ever involved guarantees from investors.