LAWYER SENTENCED FOR FRAUD ..... WHAT IS THE WORLD COMING TO??

By Bob Walsh

 

 

 

Art Lauer is, or maybe was, a lawyer in the Bay Area.  He was actively involved in a massive Ponzi scheme involving D C Solar.  

This was the largest such scheme ever prosecuted by the feds out of Sacramento.  Lauer copped to 23 counts at the end of last year and will be doing 11 years and some change as a guest of the people as a result.  The total fraud was very nearly $1 billion and even fooled Warren Buffett.

The feds raided their Benecia operation in 2018.  Most of the other bad guys have already copped but the lawyer hung tough until the end.  Most of his family and friends and two rabbis testified as to what a wonderful guy he was.  

The feds wanted 25 years.  He has said that if he ever gets his law license back he will devote himself to pro-bono for poor people.  He has until May 5 to turn himself in.  There will be a restitution hearing on April 27.

The company president, Jeff Carpoff, copped early and got 11 years.  He had a collection of 150 collector cars which it seems that the feds confiscated.

The company actually did manufacture a small number of solar generators which they kept changing the serial numbers on to make it look like they were producing and selling a significant amount of product.  Lauer asserted that he honestly though the company could "turn it around" right up until it went completely sideways.  He also admits he had some problems with being greedy.  Who could have guessed that?