Everyone remember The Macker? Best Friend of Bill. Chairman of Hillary’s 2008 presidential campaign. Famed money-tree shaker. Former Democratic Party chief. Failed 2009 contender for the Virginia governorship but now back as the party’s nominee for that position in this fall’s election. Oh—and in Mr. McAuliffe’s words—”a Virginia businessman” intent on “creating jobs.”

Or at least that was the image Mr. McAuliffe sought to portray in 2009, when he became chairman of a car company called GreenTech Automotive, with plans to produce golf-cart sized electric vehicles. The former DNC chief is no stranger to moneymaking, having once used a friendly union pension fund to spin a $100 investment in a Florida land deal into $2.45 million. GreenTech, however, was designed to shed the moneyman image and to reposition Mr. McAuliffe as a (clean) job creator the way Mark Warner and Bob McDonnell used their pro-business credentials to win office in Virginia…

After an investigation, media outlets discovered that Virginia never received enough information from GreenTech to proceed. The Associated Press reported that the state agency worried that “GreenTech lacked brand recognition; had not demonstrated vehicle performance; had no federal safety and fuel-economy certification; no emissions approval . . . no distribution network” and (ouch) “no demonstrated automotive industry experience within the executive management team.” Rather than respond to these concerns, GreenTech moved on with Mississippi (which perhaps wasn’t asking annoying questions).

Virginia was particularly alarmed by GreenTech’s use of an opaque visa program, called EB-5, to fund itself. Part of a 1990 immigration law, EB-5 lets foreigners who invest at least $500,000 in a U.S. company receive green cards. A federal immigration agency approves “regional centers” that administer the program.