Burned by Solar

Episode 72

In the era of climate change, it isn’t just about saving the planet using sustainable methods of energy, it’s about making a fortune from sustainable methods of energy. In this episode, Caleb and Greg discuss the story of DC Solar, a manufacturer of mobile solar generators.

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(00:00) - Introduction to the Unlikely Innovator
(01:00) - Listener Reviews and Reactions
(02:16) - Jeff Karpoff's Early Life and Struggles
(09:19) - The Birth of DC Solar
(12:27) - The Solar Eclipse Generator
(13:36) - Hollywood's Interest and Initial Success
(25:21) - Cracks in the Business Model
(29:30) - The Ponzi Scheme Unveiled
(30:58) - Jeff Karpoff's Extravagant Lifestyle
(32:47) - NASCAR Sponsorship and DC Solar's Rise
(35:18) - The IRS and Investor Scrutiny
(36:29) - Bogus Reports and Fake Leases
(38:18) - Massive Deals and Manufacturing Issues
(39:49) - Fraudulent Practices Unveiled
(53:02) - The Whistleblower and Legal Consequences
(56:57) - The Aftermath and Loose Ends
(58:30) - Lessons Learned and Final Thoughts

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

The Billion-Dollar Ponzi Scheme That Hooked Warren Buffett and the U.S. Treasury [The Atlantic]
Massive $1 billion solar power ponzi scheme results in the largest single-owner car collection ever auctioned by the U.S. Marshals Service — including Burt Reynolds’ Trans Am [AP]
Obama Administration Announces Columbus, OH Winner of the $40 Million Smart City Challenge to Pioneer the Future of Transportation [WH]
Federal agents raid home, business of Martinez resident [Martinez News-G

Published on 1 year, 2 months ago

Podcast Episode Details

Burned by Solar