A California district court has sentenced an owner of former mobile solar generator maker DC Solar Solutions Inc to 30 years in prison for using the company as a Ponzi scheme.
Jeff Carpoff carried out accounting and lease revenue fraud, stealing money from investors and receiving hundreds of millions in tax credits. According to court documents, in the period between 2011 and 2018, at least half of the about 17,000 mobile solar generators that DC Solar claimed to have manufactured did not exist.
The sentence by US District Judge John A Mendez comes after Carpoff pleaded guilty at the beginning of 2020. This is believed to be the biggest criminal fraud scheme in the history of the Eastern District of California.
As a result of the investigation, about USD 120 million (EUR 103.8m) in assets have been forfeited and will potentially be used towards restitution to fraud victims.