The startup behind the driverless limo business UberX has secured a $24 million loan to help build out its self-driving fleet, a source close to the situation said on Friday.
The company’s $25-million loan comes after the government’s Financial Crimes Enforcement Network (FinCEN) said it had determined that UberX violated federal anti-money laundering laws.
UberX’s self-drive cars can take passengers in cars that are driven by an UberX driver, but they can also take passengers that are in self-driven cars that Uber is developing.
UberX, the only self-parking company with a licensed fleet of more than 200 cars, will operate with up to 12,000 vehicles.
FinCES has a mandate to ensure that financial institutions can effectively monitor and monitor their financial institutions.
In its regulatory filings, FinCES cited UberX’s use of a software platform to control the vehicles, known as “automation.”
FinCEN said UberX had not been upfront about the software or whether it was being used for commercial purposes.
The government said Uber’s automated vehicles were not compliant with the terms of the federal rules, and that the company failed to comply with “a variety of safety standards.”
FinCED also cited Uber’s failure to adequately disclose its automated vehicles to the Federal Highway Administration, which requires automakers to disclose vehicles on their websites and on the company’s website.
Uber has been a target of the Department of Justice, which has charged the company with operating as a money-laundering organization.
FinCEC has said that the case could eventually result in criminal charges against Uber.
The $24-million in loans comes after Uber filed for bankruptcy protection in September, which ended with the company filing for Chapter 11 bankruptcy protection.
Uber is owned by a group of billionaire investors including Warren Buffett, Peter Thiel and Charles Schwab.
