June 28, 2022

Paulette Carpoff will spend over 11 years in prison for her role in DC Solar’s billion-dollar Ponzi scheme. Between 2011 and 2018, DCS manufactured and sold trailer-mounted mobile solar generators, using the available federal solar tax credit to lure investors. In a leaseback arrangement, investors paid a percentage of the cost and financed the rest via DCS. Instead, DCS paid early investors with new investors’ money. Carpoff controlled the Ponzi-like payments, generated fake engineering reports for nonexistent MSGs, and lied to investors about DCS’ success. Carpoff enjoyed the spoils of the fraud, which included over 150 luxury and collector vehicles, lavish jewelry, and a private subscription jet service. USAO EDCA

Tagged in: Accounting Fraud, Financial and Investment Fraud, Money Laundering, Ponzi Schemes,