Dc solar a benicia-based company

DC Solar Owner Sentenced to 30 Years in Prison for Billion Dollar Ponzi

SACRAMENTO, Calif. — An owner of DC Solar, a Benicia-based company, was sentenced today for a billion-dollar Ponzi scheme— the biggest criminal fraud scheme in the history of the Eastern District of California, Acting U.S. Attorney Phillip A. Talbert announced.

DC Solar Owners Plead Guilty to Largest Ponzi Scheme in

— The owners of DC Solar, a Benicia-based company, pleaded guilty today to charges related to a billion dollar Ponzi scheme— the biggest criminal fraud scheme in the history of the Eastern District of California. The government''s investigation has resulted in the largest criminal forfeiture in the history of the District with over $120

Nixon Peabody Gets OK For Deal With DC Solar Investors

DC Solar sold generators to the Solar Eclipse Investment Funds, whose investors bought membership interests by paying 30% of the generators'' purchase price at close, with DC Solar seller-financing the remaining 70%. the Benicia, California-based company operated a Ponzi-like scheme that defrauded investors of approximately $1 billion

East Bay: Two guilty in solar company Ponzi scheme

SACRAMENTO — Two men involved in what authorities said was a massive fraud involving a Benicia-based solar energy company pleaded guilty Tuesday to participating in a Ponzi scheme, authorities said.

DC Solar owner sentenced to over 11 years in prison for billion

Paulette Carpoff controlled the Ponzi-like payments that hid the company''s lack of third-party lease revenue, caused fake engineering reports for MSGs that the company sold but never built, and helped fool investors into thinking that DC Solar was a success. Eventually, DC Solar simply stopped building the mobile-solar generators that it

Eastern District of California | Top Executives Plead Guilty to

DC Solar owners plead guilty to Ponzi scheme

The owners of DC Solar, a Benicia-based company, pleaded guilty today to charges related to a billion dollar Ponzi scheme— the biggest criminal fraud scheme in the history of the Eastern District of California. The government''s investigation has resulted in the largest criminal forfeiture in the history of the District with over $120 million in []

Former executive gets prison for $1-billion solar fraud

Robert A. Karmann, 55, of Clayton, Calif., was the chief financial officer for DC Solar, a company based in Benicia in the San Francisco Bay Area that sold mobile solar generator units mounted on

Federal attorneys file to seize $65 million in DC Solar case

During the Dec. 18, 2018 raid, agents also recorded several interviews, including one with an executive of the Benicia-based company, the attorneys wrote. Properties, was used for a personal certificate of deposit, and the money was reimbursed by an account from one of the DC Solar companies.

DC Solar Owner Sentenced to 30 Years in Prison for Billion

Former executive gets prison for $1 billion solar fraud

Hansen, 51, worked for DC Solar, a company based in Benicia in the San Francisco Bay Area that marketed mobile solar generator units. The firm touted the units mounted on trailers as being able to provide emergency power for cellphone companies or to provide lighting at sporting and other events.

Best solar companies in Benicia, CA: Our 2024 picks

Discover what the best solar companies in Benicia, CA are, according to the EnergySage solar installer ranking system. Open navigation menu How much does solar cost in Benicia, CA? Based on the latest data from the EnergySage Marketplace, the average Benicia, CA homeowner needs a 7.66 kW solar panel system to cover their electric bills.

FBI raids East Bay solar company Headquarters, CEO''s home searched

The FBI confirms it raided a home in Martinez this week, belonging to Paulette and Jeff Carpoff, owners of DC Solar Company based in Benicia. 24/7 Live San Francisco East Bay South Bay Peninsula

Court-Orders Final Forfeiture of Over $54 Million in Connection

The assets were seized in the fraud prosecution of the owners of DC Solar, a Benicia-based company, who pleaded guilty in January to charges related to a billion dollar Ponzi scheme. Monday''s order follows an earlier order, on March 24, ordering the final forfeiture of 83 seized assets worth more than $50 million. In total, $120 million in

DC Solar head gets 30 years, must pay $790 million in huge

Carpoff and his wife, Paulette, pleaded guilty in January 2020 to taking part in the Ponzi scheme involving their Benicia-based DC Solar Solutions company, plea deals that came after months of

FBI agent suggests DC Solar operations ''Ponzi Scheme''

Phillips''s declaration did not mention the Carpoffs by name, and described the businesses only as Company S and Company D, but said the companies operated as one company and were run jointly by a husband and wife and are headquartered at 4901 Park Road, Benicia, the home address of DC Solar Solutions and DC Solar Distribution.

DC Solar | Commercial Solar Installers

DC Solar is a nationwide leader in commercial solar installation for commercial, utility, public and private clients. For several years, DC Solar has worked with leaders in the solar industry as project managers and commercial installers of large PV systems from coast to coast.

One-time owner of Bay Area solar company sentenced to 30

The one-time owner of a Benicia-based solar company was sentenced to 30 years in federal prison Tuesday for his role in a billion-dollar Ponzi scheme that prosecutors call the biggest in the

Former Executive Alan Hansen Sentenced To 8 Years For $1 Billion DC

Hansen, 51, worked for DC Solar, a company based in Benicia in Solano County that marketed mobile solar generator units. The firm touted the units mounted on trailers as being able to provide

DC Solar owner sentenced to over 11 years in prison for billion

On November 16, 2021, Joseph W. Bayliss, of Martinez, was sentenced to three years in prison and ordered to pay $481.3 million in restitution for securities fraud and conspiracy in

Former CEO of Benicia solar company gets 30 years for $1B

The couple started DC Solar, based in Benicia, as a legitimate company that made solar generators mounted on trailers, prosecutors said. They marketed the generators between 2011 and 2018 as being

Ex-California solar firm executive sentenced for $1B fraud

Guidry was a one-time vice president of operations for DC Solar, based in Benicia in the San Francisco Bay Area. Between 2011 and 2018, the company marketed mobile solar generator units. The firm touted the trailer-mounted units as being able to provide emergency power for cellphone companies or lighting at sporting and other events.

Carpoffs enter guilty pleas, sentencing scheduled for May 19

SEC sues ex-lawyer for DC Solar in $910 million fraud case

The SEC filing is the latest legal twist in the DC Solar saga, which has seen five company officials sentenced to prison terms ranging from three years to 30 years. Two others await sentencing

Owners of solar company that caused loss for Buffett plead guilty

The husband-and-wife owners of DC Solar, a California solar company that caused Warren Buffett''s Berkshire Hathaway Inc to take a $377 million charge last year, pleaded guilty on Friday to

Details on bankruptcy auction for DC Solar mobile solar generators (Dec

The court-ordered auction is being conducted in connection with the Chapter 7 bankruptcy filing of DC Solar, a Benicia, CA-based solar energy company which manufactured and leased renewable energy products.

Dc solar a benicia-based company [PDF]

6 FAQs about [Dc solar a benicia-based company]

Is DC Solar a Ponzi scheme?

Who seized DC solar assets?

The assets were seized in the fraud prosecution of the owners of DC Solar, a Benicia-based company, who pleaded guilty in January to charges related to a billion dollar Ponzi scheme. Monday’s order follows an earlier order, on March 24, ordering the final forfeiture of 83 seized assets worth more than $50 million.

How much money has been forfeited for the DC Solar Ponzi scheme?

SACRAMENTO, Calif. — On Monday, U.S. District Judge John A. Mendez ordered the final forfeiture of $3.9 million in private jet shares bringing the total court-ordered forfeiture this year to more than $54 million related to the DC Solar Ponzi scheme, U.S. Attorney McGregor W. Scott announced.

Would DC Solar defraud new buyers?

DC Solar wouldn’t just defraud new buyers to pay earlier ones. By holding itself out as a legitimate solar company, it would give all of them—new and old—cover to drain millions of dollars of tax credits from the U.S. Treasury. The American taxpayer, that is, would subsidize the scam.

Does DC Solar have a car charger contract?

DC Solar had an offer for 30 leases from a sports-marketing company. It had a signed contract to provide 10,000 car chargers to the U.S. Department of Transportation for parking lots and schools across the country. (A DOT spokesperson told me there was never any such contract.)

Did DC Solar rob the American people?

Because those corporations had used the investment tax credit to deduct roughly that entire sum from their taxes, DC Solar had effectively robbed the American people. The corporations are expected to return their ill-gotten tax breaks to the U.S. Treasury.

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