California couple pleads guilty to plotting $1B Ponzi scheme

The owners of a San Francisco Bay Area solar energy company pleaded guilty Friday to charges that they plotted a massive Ponzi scheme that defrauded investors of $1 billion. As part of their plea deal, prosecutors said the husband and wife team from Martinez agreed to forfeit over $120 million in assets, including a fleet of collector cars and v acation homes in the Caribbean, Lake Tahoe and Las Vegas purchased entirely with cash. Jeff Carpoff, 49, pleaded guilty to conspiracy to commit wire fraud and money laundering, which carry a maximum penalty of up to 30 years in prison, the U.S. Attorney's office in Sacramento said.

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