Justice officials in California announced Tuesday that a woman who, along with her husband, conducted a nearly $1 billion solar investment scam has been sentenced to 11 years and three months in jail.
Between 2011 and 2018, Paulette Carpoff, 51, ran a massive pyramid scheme with her husband Jeff that attracted nearly 20 investors who believed they were supporting the development of solar generators.
Jeff Carpoff received a 30-year jail sentence in the year after the couple admitted to conspiring to commit wire fraud and money laundering.
The pair had raised $910 million from 17 investors, but at least half of the 17,000 devices they claimed to have produced were fake.
Keeping at least $140 million for their personal use, Jeff and Paulette Carpoff used money to purchase jewels, 148 vehicles, including the 1978 Firebird driven by actor Burt Reynolds, a baseball franchise, and opulent real estate.
