DC Solar owner Jeff Carpoff was sentenced to 30 years in federal prison in connection with defrauding investors
American Bankruptcy Institute (“ABI”) reports that In the fall of 2021, DC Solar owner Jeff Carpoff was sentenced to 30 years in federal prison in connection with defrauding investors (and taxpayers) out of over $2B through a Ponzi scheme involving favorable tax credits that incentivize investments in sustainable energy. The fraud, described by the Department of Justice as “the largest criminal fraud scheme in the history of the Eastern District of California” was uncovered shortly after a Christmas 2018 government raid on DC Solar’s headquarters which caused the company to file a Chapter 11 bankruptcy case, in Bankruptcy Court, Eastern District of California, in early in 2019. The Bankruptcy Law Firm, PC reports: Moral of this story: If something sounds too good to be true, it very likely is too good to be true.