Another $4 million forfeiture in DC Solar Ponzi scheme

Started by Bronx, April 20, 2020, 06:28:46 AM

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Bronx

The solar market seems to be a magnet for scams. I wonder why.....?

Another $4 million forfeiture in DC Solar Ponzi scheme

U.S. District Judge John A. Mendez ordered the final forfeiture of $3.9 million in private jet shares bringing the total court-ordered forfeiture this year to more than $54 million related to the DC Solar Ponzi scheme, U.S. Attorney McGregor W. Scott announced.

The assets were seized in the fraud prosecution of the owners of DC Solar, a Benicia-based company, who pleaded guilty in January to charges related to a billion dollar Ponzi scheme.

Monday's order follows an earlier order, on March 24, ordering the final forfeiture of 83 seized assets worth more than $50 million. In total, $120 million in assets have been forfeited so far by the defendants in this investigation and prosecution, which has resulted in the largest criminal forfeiture in the history of the Eastern District of California.

READ MORE HERE..........
https://fcced.com/another-forfeiture-dc-solar-ponzi-scheme-184202335/
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