DC Solar Owners Plead Guilty to Largest Ponzi Scheme in Eastern California History

WUWT:

From the DOJ

FOR IMMEDIATE RELEASE

Friday, January 24, 2020

Top Executives Plead Guilty to Participating in a Billion Dollar Ponzi Scheme—the Biggest Criminal Fraud Scheme in the History of the Eastern District of California

SACRAMENTO, Calif. — The owners of DC Solar, a Benicia-based company, pleaded guilty today to charges related to a billion dollar Ponzi scheme— the biggest criminal fraud scheme in the history of the Eastern District of California. The government’s investigation has resulted in the largest criminal forfeiture in the history of the District with over $120 million in assets forfeited that will go to victims, and has returned $500 million to the United States Treasury, with more to come, U.S. Attorney McGregor W. Scott announced.

Jeff Carpoff, 49, of Martinez, pleaded guilty today to conspiracy to commit wire fraud and money laundering. His wife, Paulette Carpoff, 46, pleaded guilty today to conspiracy to commit an offense against the United States and money laundering. According to court documents, between 2011 and 2018, DC Solar manufactured mobile solar generator units (MSG), solar generators that were mounted on trailers that were promoted as able to provide emergency power to cellphone towers and lighting at sporting events. A significant incentive for investors were generous federal tax credits due to the solar nature of the MSGs. KEEP READING

SNIP: Refresh my memory. Which president was pushing solar back in 2011?

larry hogan md screenshot youtube

15 Comments on DC Solar Owners Plead Guilty to Largest Ponzi Scheme in Eastern California History

  1. Solar will work in certain conditions and circumstances
    but in general it is expensive and inconvenient.
    The “Solar energy game” is ripe for scoundrels to play
    flim flam scams. Remember the thieving Kenyan and Solyndra?
    The people who fall for them are always looking for something for nothing and are often feel good SJW’s radiating their climate saving saintliness for the applause of other fools.

    10
  2. AOC: “So, like, today we lost a primary provider of solar power that the president refused to believe was like a viable company. So I’ve got no choice but to like modify my scientific model and the world is now going to end like 2 years sooner. This is a major setback for poor, black and brown people all over the world.”

    9
  3. in general if the government has to subsidize it it is a bad deal.
    if it runs on batteries it is a bad deal.
    if it runs on wind it is a bad deal.
    if it was a good deal you could not stop people investing their own money.

    16
  4. LOL! During the fires here when PG&E decided to cut power to everyone, the first bitch was “my $30,000 solar doesn’t work!” Wah, wah, wah. My propane generator worked just fine. $750 generator investment versus $30,000 investment which only works when the sun shines. They get more pissed when they have to pay PG&E $$$$$ at the end of the year for electricity that they used, and in the negative with credits. They didn’t cut a fat hog in the ass.

    3
  5. So Warren Buffet fleeces tax payers out of billions via his buddy, the seditious gay Kenyan commie. Then after fleecing us, Buffet gets fleeced. And we’re supposed to care because?

    3
  6. I’d look for Tom Steyer’s name (or his former company) in that mess someplace. I know, I know, but I really hate that guy for screwing on the pipelines and oilsands expansion up here in the Great White North.

    2

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