The owner of a San Francisco Bay Area solar energy company was sentenced to 30 years in federal prison Tuesday for an audacious Ponzi scheme that defrauded investors of $1 billion. It's the biggest criminal fraud scheme in the history of the federal court district that covers inland Northern California, said Acting U.S. Attorney Phillip Talbert. Jeff Carpoff, 50, received the maximum penalty after pleading guilty in January 2020 to conspiracy to commit wire fraud and money laundering.
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California man gets 30 years in prison for $1B Ponzi scheme
