May 18, 2024



California man gets 30 years in prison for $1B Ponzi scheme

Yahoo News – AP


SACRAMENTO, Calif. (AP) — 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.

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