Alan Hansen 7th person to plead guilty in $2.5B DC Solar Ponzi scheme

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On Thursday U.S. Attorney McGregor W. Scott announced the guilty plea of Alan Hansen, 49, of Vacaville, California. Hansen is the seventh person to plead guilty for his participation in what is being billed as the largest Ponzi scheme in eastern California history.

Hansen’s part in lucrative Ponzi scheme

The defendants allegedly bilked over $2.5 billion from investors in DC Solar, a solar energy company based in Benicia, originally owned and operated by Jeff and Paulette Carpoff. 

The losses were the result of investment transactions in solar energy hardware, half of which did not exist. Hansen also pleaded guilty to federal charges of money laundering. He is scheduled to be sentenced on November 3rd and faces up to 15 years in prison. 

According to court documents, Hansen’s role in the fraud began when he was an employee of a telecom company with which DC Solar had contracts. Hansen accepted $1 million from DC Solar to sign a false contract his co‑conspirators, later used to encourage investments by victims.