"Gluttonous accumulation of wealth": Wife of solar Ponzi schemer sentenced to 11 years

Paulette Carpoff (48) was sentenced to 11 years and three months in federal prison for her role in a scam that bilked a billion dollars from investors in a bogus solar energy company. She was also ordered to pay $661 million in restitution. Carpoff's husband, Jeffrey (51), had been sentenced to 30 years in prison seven months earlier by the same judge. Prosecutors said the Carpoffs used investors' money to fund a lavish lifestyle:

From The Sacramento Bee:

The couple used the money derived from the scheme to invest in lavish collections of automobiles, high-end vacation properties and sports ventures. "This included luxury real estate in Lake Tahoe, Las Vegas, the Caribbean, and Cabo San Lucas, over 150 luxury and collector vehicles, a private subscription jet service, lavish jewelry, and massive amounts of cash stashed throughout their home, office, and cars," Assistant U.S. Attorney Christopher Hales wrote in the government's sentencing memorandum. "The nature and circumstances of Carpoff's crimes deserve a substantial sentence."

After the trial, Carpoff's defense attorney said, "This is a dark day for the Carpoff family, but it's a day she's had coming for quite a while. She will continue to unravel the damage this scheme has wrought on people throughout the country."

Carpoff will begin serving her sentence on August 23.