A Martinez woman was sentenced to over 11 years in prison for what federal prosecutors said was the biggest fraud scheme in the history of the Eastern District of California, U.S. Attorney Phillip Talbert announced Tuesday.
Paulette Carpoff, 51, pleaded guilty on Nov. 9, 2021 to conspiracy to commit an offense against the United States and money laundering, the DOJ said. Carpoff played the lead role in a large Ponzi scheme as chief operating officer for DC Solar, a former solar power supply company based out of Benicia.including Carpoff's husband Jeff, who got 30 years in federal prison last November and was ordered to pay a whopping $790.
Enter the Ponzi scheme. According to the DOJ, when the third-party leases generated little income, the company paid early investors with funds contributed by later investors. Generators were sold that didn't even exist—at least half DC Solar claimed to have manufactured—making it look like MSGs existed in locations that they did not.
Paulette Carpoff controlled the Ponzi payments and hid the company's lack of third-party lease revenue, the court found. She also fooled investors into believing that the company was a success.
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