- The husband-and-wife owners of DC Solar, a California solar company that caused Warren Buffett’s Berkshire Hathaway Inc to take a $377 million charge last year, pleaded guilty on Friday to involvement in an estimated $912 million Ponzi scheme.
They entered their pleas in federal court in Sacramento, California. Jeff Carpoff faces up to 30 years in prison and Paulette Carpoff up to 15 years at their May 19 sentencing. But according to prosecutors, about half of the 17,000 generators did not exist, and the Benicia, California-based company used false financial statements and lease contracts to conceal the fraud.
30 years in prison ! So, white-collar crime is a criminally prosecutable offense ? ..or is this only when Buffet's ox is gored ..
Wow!!!
A green-energy company in a Ponzi scheme? I'm shocked!
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