DC Solar

DC Solar was a mobile solar generator company based in Benicia, California. Founded by Jeff and Paulette Carpoff, the company purported to manufacture and lease mobile solar generators to provide power for events and construction sites.

The company rose to prominence through sponsorships in NASCAR and other motorsports, using high-profile advertising to promote its purported environmentally friendly technology. However, in 2018, the FBI raided the company's headquarters, initiating an investigation into what was later revealed to be a Ponzi scheme.

The company had raised hundreds of millions of dollars from investors, promising high returns based on the leasing of its mobile solar generators. However, it was discovered that the majority of the generators claimed to exist were either not built or were stored in warehouses, never deployed to customers. The revenue generated from legitimate leases was significantly less than the amounts needed to pay promised returns to investors and fund the company's lavish spending, including sponsorships and luxury properties.

Jeff Carpoff was subsequently charged with and pleaded guilty to conspiracy to commit wire fraud and money laundering. He was sentenced to 30 years in prison. Paulette Carpoff also pleaded guilty to related charges. Numerous other individuals associated with the company were also charged and convicted. The DC Solar scandal resulted in significant financial losses for investors and highlighted the risks associated with complex investment schemes promising unusually high returns. The company's assets were seized and auctioned off by the government. The case serves as a cautionary tale about the importance of due diligence and independent verification when evaluating investment opportunities.