Click here to view original web page at www.dailywire.com
grouping of photovoltaic solar panels on rooftop Green energy executive Robert A. Karmann, who was the chief financial officer for a now non-existent company, was sentenced to six years in prison on Tuesday for his role in a Ponzi scheme encompassing billions of dollars.
Karmann was also ordered to pay $624 million in restitution for his involvement in fraudulent acts related to the DC Solar company, which made mobile solar generator units. According to the U.S. Attorney’s Office for the Eastern District of California, investors were given “generous federal tax credits” for purchasing the units.
The investors were also falsely told that there would be consistent revenue from the units when in actuality there was not very much demand for the units according to federal authorities.
“DC Solar had instead become a fraud scheme that took new investor money to pay older investors, using circular transactions that were fraudulently disguised to look like real third-party lease revenue,” the Department of Justice explained.
One of the holding companies that invested in the project was Berkshire Hathaway Inc, which is owned by Warren Buffett.
“According to court documents, Karmann and the other co-conspirators, including company founder Jeff Carpoff, carried out an accounting and lease revenue fraud using the Ponzi-like circular payments. Carpoff and others lied to investors about the market demand for DC Solar’s MSGs and its revenue from leasing to third parties,” the feds noted in their announcement of Karmann’s sentencing.
Karmann and his co-conspirators then falsified operation reports, financial statements, and written summaries of supposed revenue streams to present to investors. From 2016 to 2018, they used a system of “hidden circular funds” to cheat on tax documents before they were eventually shut down by the FBI.
Authorities said one employee of DC Solar was told to “make it up” by Karmann when the employee was […]
Yes, We Need Your Help
I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…
When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.
Many in this nation are struggling right now even though we weren’t struggling just a few years ago. I’m not alone. But I wake up every morning and operate the sites we’ve been able to build because there’s really no other choice. I refuse to be beholden to Big Tech like so many other conservative news outlets, which is why you won’t see Google ads here. With that said, it’s often challenging to pay the bills and it’s even harder to expand so we can get the America First message out to a wider audience.
The economic downturn has forced me to make a plea for help. Between cancel culture, lockdowns, and diminishing ad revenue, we need financial assistance in order to continue to spread the truth. We ask all who have the means, please donate through our Giving Fuel. Your generosity is what keeps these sites running and allows us to expand our reach so the truth can get to the masses. We’ve had great success in growing but we know we can do more with your assistance.
We currently operate:
- NOQ Report
- Conservative Playlist
- Uncanceled News
- Based Underground
- Five other conservative news sites
I would even be willing to entertain investments and partnerships at this stage. I’ve turned them down in the past because editorial purity is extremely important. I’ll turn them down again if anyone wants us to start supporting RINOs or avoid “taboo” topics like voter fraud, vaccines, or transgender supremacy. But I’d talk to fellow America First patriots who want to help any (or all) of our 10 news sites. Hit me up at jdrucker (at) substack (dot) com if you’re interested.
For those who have the means and just want to help keep the mission of spreading a conservative, Christian message to the nation, please consider a generous donation.