No Surprise Here….
From the DOJ: https://www.justice.gov/usao-edca/pr/top-executives-plead-guilty-participating-billion-dollar-ponzi-scheme-biggest-criminal
People have been arrested and indicted for running a Ponzi scheme (scam) re: solar power. Not small amounts of money – serious cash was generated in this fraud. There were no solar generators anywhere, period, but corporate entities fell for it.
From the article: SACRAMENTO, Calif. — 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 assets forfeited that will go to victims, and has returned $500 million to the United States Treasury, with more to come, U.S. Attorney McGregor W. Scott announced.
Jeff Carpoff, 49, of Martinez, pleaded guilty today to conspiracy to commit wire fraud and money laundering. His wife, Paulette Carpoff, 46, pleaded guilty today to conspiracy to commit an offense against the United States and money laundering. According to court documents, between 2011 and 2018, DC Solar manufactured mobile solar generator units (MSG), solar generators that were mounted on trailers that were promoted as able to provide emergency power to cellphone towers and lighting at sporting events. A significant incentive for investors were generous federal tax credits due to the solar nature of the MSGs.
The conspirators pulled off their scheme by selling solar generators that did not exist to investors, making it appear that solar generators existed in locations that they did not, creating false financial statements, and obtaining false lease contracts, among other efforts to conceal the fraud. In reality, at least half of the approximately 17,000 solar generators claimed to have been manufactured by DC Solar did not exist.
U.S. Attorney Scott stated: “This billion dollar Ponzi scheme hurt investors and took money from the United States Treasury. This case represents not only the largest criminal fraud scheme in the history of the District, it also represents the largest criminal forfeiture in the history of the District with over $120 million in assets forfeited. All of this money will be returned to the victims. This scheme also targeted the United States Treasury, and we have returned $500 million to the Treasury to date. Agents, investigators and attorneys from various federal agencies are still working to continue to return money to victims and the United States Treasury. Today’s guilty pleas sends a strong message that fraudsters will get caught and will pay for their crimes. You can run, but you cannot hide.” – article
One may readily conclude that not only is the whole ecohippie movement a scam aimed at sending a free and independent capitalist country like the USA into bankruptcy, but also turning it into a socialist/Marxist gulag archipelago, which is exactly what groups like Extinction Rebellion are. ExR started as a Marxist political group in the UK but got nowhere, so they switched gears and took on the disruptive ecohippie green movement, blocking commuter traffic in London, and wherever else and whenever they could, inciting vandalism in their followers, and in general, making nuisances of themselves. With chumps like Warren and Sanders promoting socialism in their platforms, and the kinds of scams perpetrated on taxpayers as discussed in the subject of this article, the stupidity of the targets is only one issue, but it’s a big, and costly, one, and it’s your tax dollars being scammed here.
Category: "The Floggings Will Continue Until Morale Improves", Darwin Awards
My way of money laundering is legal. When I couldn’t get brand new bills for birthday gifts or to practice folding bills to make different kind of objects, I put them in a small laundry bag and ran them through the wash cycle and then ironed them out and voila, brand new looking bills right out of the washing machine. currency are made out of cloth and not paper.
Hack Stone left a 1000 yen bill in his cammies when he did his laundry (too cheap to pay Mama-San), and the bill shrank (shrunk?). 1000 yen just doesn’t go as far as it used to.
1000 yen just doesn’t go as far as it used to after the washing/Groan. Not bad Hack.
Hack Stone faced charges of money laundering, but beat the charges by hiring a Social Security advocate who couldn’t get accepted by the Oregon Bar Association to defend him. They immediately threw out all charges, saying that anyone who would hire this idiot couldn’t possibly be smart enough to commit the crime.
It’s not the first time that a green energy company was able to con taxpayers. Hack Stone is still trying to find out if Solyndra ever made one solar unit before closing shop.
https://www.newsmax.com/t/newsmax/article/621537?keywords=Barack-Obama-Solyndra-Scandal-Green-Energy&year=2015&month=01&date=29&id=621537&oref=www.bing.com
We don’t know how many panels they made, but those 0bamunist investors and officer/directors cleaned up and Uncle Sam picked up the tab in the end. Solyndra was a combo PR op and a scam.
That was the first thing that crossed my mind when I read this.
I wonder if that’s what paid for Barry’s new beach house—y’know, the multi-million-dollar mansion that according to Barry himself will be underwater in a few years. Seems like a really dumb investment if all this global warming crap is true.
Spot on Boys. When I FIRST started reading this I thought it WAS a Solyndra follow up. And was not Solyndra Commiefornia based? And isn’t most of this ecohippie gubmint money a ponzi scheme/scam on the taxpayers? You’d of thunk that the whole fiasco on ethynol woulda been a lesson. Guess not.
Solyndra’s factory was located in an old GM car plant in Fremont, Commiefornia, IIRC. I used to own a Chevy Vega that was built there. It was the worst new car I ever purchased–multiple defects.
How about the billions of dollars wasted on subsidizing luxury plug-in cars, because, you know, a $60,000 car SHOULD come with a $7,500 ‘tax credit’.
Just a thought here; stop subsidizing, public financing, and tax breaks for ‘green energies’ and the fraud would dis-ah-f*cking-ppear!
The “environmentally friendly” cars that run on batteries made of rare-earth minerals obtained from strip mines? Whose strip-mined batteries are charged by coal-fired powerplants because solar panels and windmills don’t put out enough juice?
And don’t forget the stress that those vehicles bogged down with batteries places on bridges and highways. Pretty sure there are more than a few emergency response type deplorables that frequent this website, maybe they can give us an idea of what kind of hazardous material needs to be cleaned up when they are involved in major collisions.
Another conversation tried (unsuccessfully) with the Green Wienies is that if it comes to fruition that America does convert to all electric automobiles, what happens when a location such as Southern Florida needs to evacuate due to an impending hurricane? According to Al Gore’s Amazing Internet, most electric vehicles have a range of about 300 miles, and depending on the batteries, to full recharge can be anywhere from 30 minutes to several hours. Now, can you imagine a caravan of 100,000 cars all running out of power 300 miles from Miami? Hack is more than confident that everyone will patiently wait their turn to power up. They can even set up a spontaneous hackey-sack tournament while they wait.
That’s why I love my VW Diesel Passat (not involved in the diesel scandal). If I have to, I can get 650+ miles from one tank. A bonus is that in evacuations/storm areas, the stations normally still have diesel even though they may be out of gas.
I feel you. 320k on a diesel Jetta that hasn’t even hit it’s halfway point yet.
Worst comes to worst we can fill up on oil, kerosene, and vegetable oil.
My wife is on her second TDI Passat. First one was bought back by VW. We immediately purchased her second one from the previously unsold 2015 fleet. Both of them easily gave 50MPG on long trips. It is the one and only car I can run for hundreds of miles in one sitting and not get uncomfortable . It is also the only car I have to adjust the seat forward of its full rearward position. I am 6’5″ and 270 lbs. and there is plenty of room.
I’ll just stick with my 4WD pickup truck with a V8 engine, screw the treehuggers!
Don’t even get me started. The *watermelon crowd can kiss my ass! I live and work in my town, sometimes walk to the grocery 1/4 mile away, the car i drive is 15 years old, is a 4 cylinder that STILL gets 35 mpg.
The strip mining is a ecological nightmare and the crap I have gotten from the Prius/E-car people when I tell them they’re part of the problem, hell, most of them fly thousands of miles a year which is WAY worse!
Watermelon: a person who supports green energy as a guise for socialism, from the fruit which is green on the outside and red on the inside.
Commies are like their flag, whatever part of them that isn’t red is yellow!
I’m stealing this!
Then theres my fav: better dead than Red.
So are there actual examples of a successfully executed Ponzi scheme? Seems like the sort of thing where the bill comes due, so to speak, for the perpetrator eventually. I guess I would liken it to heroine use. “Sure it’s killed all those other celebs, but I know what I’m doing!!!” was the last thoughts from many a dead celeb. I figure it’s probably the same for Ponzi scheme organizers. “I’ll make off with the cash before someone notices.”
Or “Socialism hasn’t worked before just because it hasn’t been done by smart people like us!”
It works great if you’re the man in charge or at least an Inner Party member. Not so much for the proles…
That’s enough think out of you there or it’s off to room 101!!!
Only Ponzi scheme that seems to work long term is the government.
Ah yes. That one is obvious, but I missed it. Don’t see anyone going to jail for that one either.
Social Security is the largest Ponzi scheme in the history of the world.
The pols in DC, of both parties have used it as a quiet form of paying for their latest little program that will fix, (insert any kind of gov’t program that has never worked) everything under the Sun…..
The Social Security debt is well into the multiple trillions of dollars of debt and if the burn or any of the d-rats get into office the program will be abolished and replaced with some other socialism type bull shit that will lead to a real shooting civil war and we’ll all be lucky to survive…
True that, it’s been said that Nanny Lugosi raided the SS fund for millions wasted on the sham impeachment.
I can’t wait for SS to die its final death. Long time it has been a tick on the balls of society.
She’s terminal now, 14 years to agonize away way to her just desserts.
About 5 years ago there was a plan for a private entity to put a 10MW solar farm on about 60 acres of the local AFB. It never got beyond the clearing the land stage.
To this day the rumor is the private entity logged off about 50 acres and sold the lumber but never did anything else.
Plans to develop a 10-megawatt solar array at Robins Air Force Base through an enhanced use lease have fallen behind schedule since they were initially announced last July.
At the time, Chicago-based New Generation Power planned to begin construction at a 50-acre site at the Middle Georgia installation by September, with the solar plant slated to go online by January 2015. So far, though, work has not progressed beyond clearing the forested site, reported the Telegraph.
Officials from the Air Force and the developer still need to sign a final lease, said Mark Kinkade, a spokesman for the Air Force Civil Engineering Center. “Despite the extended timeline, the project is moving forward,” Kinkade said without elaborating as to why a final deal still has not been reached or indicating when construction would begin.
Under the agreement reached last year, the developer would sell energy generated by the photovoltaic facility to Georgia Power through a power purchase agreement. The lease payments Robins receives during the project’s 20-year term would be reinvested in renewable facility energy or energy conservation measures.
A spokesman for Georgia Power told the paper that New Generation Power has “failed to meet their contractual obligations with Georgia Power.” He said he could not elaborate any further.
For the life of me I don’t understand why this hasn’t been investigated. One only can imagine whose snout is in the trough.
I wonder how soon we’ll finally see just what a boondoggle wind energy has been as well?
We’re already seeing it.
And they wonder why many people are beginning to question renewable energy. Scams like this along with the Solyndra debacle don’t help the image (I remember hearing about that one. My family and I are 100% convinced that someone pocketed all that money. How else does a company receive so much money with a lot of it coming from federal subsidies all of a sudden just go belly up completely? Where did all of that money go?). In fact, I also thought of Solyndra when I read this.
I also wonder how much of that money found its way back to the 0bamas?
I wouldn’t be surprised if they got a hefty cut as well API.
You should read about the disaster of the street car program that the District Of Columbia has been trying to kickstart for over a decade. Hundreds of millions of dollars pissed away on rail track that carries no cars, street cars rusting away in storage, and maintenance facilities that have gone 400% over budget because every time that a Council Member gets a “bright idea”, they immediately scrap the existing plan and wedge the latest flavor of the week into it. These politicians can fuck up a peanut butter and jelly sandwich.