A judge sentenced a 45-year-old man Tuesday to six-and-a-half years in prison and ordered him to pay $619 million in restitution for his part in a solar company’s $1 billion Ponzi scheme, aut…
Guidry worked at DC Solar from 2012 to 2019; he not only knew his firm’s business model relied on defrauding investors of funds, but he knowingly took $1 million from investors to arrange a signature on a false lease contract. He also split a cash sum with Alan Hansen, a Vacaville man and telecommunications company employee, to forge a signature on a related agreement.
Guidry created a spreadsheet of fake locations for the company’s mobile solar generators, and then worked with Jeff Carpoff to move generators to those locations either before or on the day of scheduled investor inspections. After DC Solar stopped making generators in 2017, Guidry transferred vehicle-identification number stickers between generators in Benicia and Las Vegas in order to fool investors about transactions.
After an investigation by the Federal Bureau of Investigation, the Internal Revenue Service and federal insurance inspectors, Guidry and several other conspirators were charged with a range of offenses, including money laundering and conspiracy to commit wire fraud.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Mover Americas: Celsius Network Accused of Running a Ponzi SchemeBankrupt crypto lender CelsiusNetwork is accused of running a Ponzi scheme, and AlamedaResearch is seeking to recover $446 million in crypto it had transferred to investvoyager. LedesmaLyllah reports.
Read more »
Examiner finds customer deception, ‘very Ponzi-like’ use of funds at CelsiusThe court-appointed examiner in the bankruptcy case of cryptocurrency lender Celsius has been released. It looks at five areas and finds a variety of issues.
Read more »
Highlights from the court report detailing Celsius' Ponzi-like downfallWe read the Celsius examiner report so you don't have to.
Read more »
These Are Your Rights When Airlines Screw Up Your TripAnd some tips and tricks for making your delayed flight as pleasant as possible.
Read more »
King of the Hill: Hulu, Mike Judge, Greg Daniels Set Series RevivalHulu, Mike Judge, and Greg Daniels are teaming up for a series revival of King of the Hill, with original voice cast members set to return.
Read more »
TikTok CEO set to testify on Capitol Hill for first time as calls for US ban mountTikTok CEO Shou Zi Chew is set to be grilled on Capitol Hill on March 23.
Read more »