Owners of solar company that caused loss for Buffett plead guilty over Ponzi scheme

- 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!

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Owners of Solar Company That Swindled Berkshire Hathaway Admit to Running Ponzi SchemeA California couple whose solar company counted Berkshire Hathaway as one of its investors pleaded guilty Friday to running a $900 million Ponzi scheme The system rots from the head down.. conman ConManTrump Thanks Obama! A solar lib scam on the rubes!!! No way!!!
Source: WSJ - 🏆 98. / 63 Read more »

Owners of Solar Company That Swindled Berkshire Hathaway Admit to Running Ponzi SchemeA California couple whose solar company counted Berkshire Hathaway as one of its investors pleaded guilty Friday to running a $900 million Ponzi scheme The system rots from the head down.. conman ConManTrump Thanks Obama! A solar lib scam on the rubes!!! No way!!!
Source: WSJ - 🏆 98. / 63 Read more »