LightSquared CEO Sanjiv Ahuja and its billionaire backer, Phil Falcone, fired back in an exclusive interview with POLITICO on Friday at allegations that the wireless company used its political pull with the Obama administration to secure regulatory approval of its controversial business plans.

“It’s just very disappointing that people are not seeing the facts here, and [that] this has become a real political issue,” Falcone, a senior executive at the hedge fund firm Harbinger Capital, said in a 30-minute phone interview. “It’s not a function of being a Democrat or a Republican, it’s about trying to be an innovator. … It’s very disappointing and frustrating that we are getting stonewalled like this. … I kinda scratch my head every single day and say I can’t believe this is happening.”…

“How LightSquared operated, and how LightSquared will continue to operate, is no different than what everybody else does,” Falcone said. “It’s completely appropriate and was within the guidelines of how business is conducted.”