“Warren Buffett’s Berkshire Hathaway Inc on Wednesday said a $377 million charge it incurred recently was tied to a solar generation company that U.S. authorities have linked to fraud.
Berkshire said in its first-quarter report on Saturday it had invested $340 million in various tax equity investment funds from 2015 to 2018, before learning that federal authorities had alleged “fraudulent income conduct” by the funds’ sponsor.
“We now believe that it is more likely than not that the income tax benefits that we recognized are not valid,” and took the charge for “uncertain tax positions” related to its investments, Berkshire said.
Buffett’s assistant Debbie Bosanek confirmed that the charge related to DC Solar. Bloomberg News earlier reported its identity.”
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Stempel, Jonathan. Reuters 8 May 2019.