“The co-owners of a California solar company pleaded guilty in connection with a $1-billion Ponzi scheme whose victims included Berkshire Hathaway Inc.
Jeff Carpoff pleaded guilty Friday in Sacramento federal court to conspiracy to commit wire fraud and money laundering, according to court records. His wife, Paulette Carpoff, admitted to money laundering and conspiracy to commit an offense against the U.S. At least four others with ties to their company, DC Solar, have already pleaded guilty in the case.
DC Solar built mobile solar generators for sporting events and music festivals. The company attracted at least a dozen investors in complex deals that raised money through what’s known as tax-equity funds. They included Progressive Corp., East West Bancorp Inc., Valley National Bancorp and Sherwin-Williams. Warren Buffett’s company invested $340 million.”
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Eckhouse, Brian and Katherine Chiglinsky. Los Angeles Times 24 January 2020.