Jeff Carpoff (49) and Paulette Carpoff (46), owners of DC Solar in California, pleaded guilty to running a Ponzi that bilked investors of $1 billion, including $340 from Warren Buffett’s Berkshire Hathaway Inc, reports AP. The could spend 15 - 30 years in prison.
As part of their plea deal, prosecutors said the husband and wife team from Martinez agreed to forfeit over $120 million in assets, including a fleet of collector cars and vacation homes in the Caribbean, Lake Tahoe and Las Vegas purchased entirely with cash... The Carpoffs used the money from the scheme to buy and invest in more than 150 luxury cars, 32 properties, subscription to a private jet service, a semipro baseball team and a suite at the new Las Vegas Raiders stadium.
Image: DC Solar Facebook page/video screengrab
