BURLINGTON, Vt. (WCAX) – Leaders of the Vermont solar firm iSun misled shareholders and engaged in “extensive” wrongdoing, including fraud and misappropriation of funds, according to a former executive who was recruited to fix the publicly traded company in the months before its June bankruptcy.
Top executives listed their spouses as employees to obtain more government aid during the pandemic, took title to company cars, and breached loan agreements as they became desperate for cash, former iSun CEO Robert Zulkoski alleges in a whistleblower complaint obtained by Seven Days. Company officials and iSun’s board of directors concealed the information from stockholders, he claims. Meanwhile, the top executives reaped six-figure bonuses.
Darren Perron spoke with Seven Days’ Derek Brouwer, who reported on the story in this week’s issue.