- The couple accused of fleecing Warren Buffett’s Berkshire Hathaway as part of an $800 million "Ponzi-type" scheme used money from the scam to buy at least 90 vehicles, according to federal investigators.
- Jeff and Pauline Carpoff bought two Jaguars, two Bentleys, a Cadillac, a boat, a luxury motorhome, and a million-dollar Mustang, court filings show.
- The list below shows 11 of the priciest vehicles they purchased.
- Visit Markets Insider’s homepage for more stories.
The couple accused of fleecing Warren Buffett’s Berkshire Hathaway in an alleged $800 million "Ponzi-type" scheme bought at least 90 vehicles using funds from the scam, according to federal investigators.
Jeff and Pauline Carpoff’s company, DC Solar, financed their purchase of luxury vehicles including two Jaguars, two Bentleys, a Cadillac, a boat, a luxury motorhome, and a million-dollar Mustang, court filings show.
They made the purchases between 2011 and 2018, when they also spent more than $40 million on real estate including a Las Vegas mansion, two condos in Lake Tahoe, and a vacation home in Scottsdale, according to court documents.
"We completely disagree with the [FBI’s] claim that DC Solar was a Ponzi scheme and with any assertion that Jeff Carpoff acted improperly," said Malcolm Segal, the Carpoffs’ attorney, in an email to Business Insider. He added they have been working to "reimburse investor companies to see that they do not suffer a loss."
Federal investigators used bank and vehicle records to identify the makes and models of more than 50 vehicles bought by the Carpoffs, and how much they paid. The list below shows 11 of the priciest ones.
2017 Cadillac CTS-V — $95,105
2012 Jaguar XKR — $98,682
Bennington Pontoon — $100,000
Pontoon Boat Reviews
- These are the 10 best-performing stocks of this century
- GOLDMAN SACHS: Buying the stocks loved by both hedge funds and mutual funds has produced supercharged returns. Here are the 12 that fit the bill.
- 11 facts about San Francisco’s housing market that will make you glad you live somewhere else