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A couple pleaded guilty to scamming Warren Buffett as part of a $1 billion Ponzi scheme

A couple pleaded guilty to scamming Warren Buffett as part of a $1 billion Ponzi scheme
Bill Pugliano/Getty



The couple accused of scamming Warren Buffett and other investors pleaded guilty to money laundering and conspiracy charges on Friday.




Jeff and Paulette Carpoff splurged at least $140 million in investor cash on dozens of luxury properties and more than 150 cars including a $1 million Mustang.




Buffett's Berkshire Hathaway invested $340 million in mobile solar generators built by the pair's DC Solar business.




Berkshire took a $377 million charge after news of the fraud broke last year.




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The couple accused of scamming Warren Buffett and other investors pleaded guilty in connection with a $1 billion Ponzi scheme on Friday, court filings show.
Jeff and Paulette Carpoff siphoned at least $140 million in investor money, splurging it on dozens of properties including a Las Vegas mansion and a pair of condos on Lake Tahoe, more than 150 cars including a $1 million dollar Mustang, and other big-ticket purchases. A federal raid of their home found nearly $80,000 in cash stashed on the premises.
Almost all of the vehicles — including a 1978 Pontiac Trans Am owned by actor Burt Reynolds — were put up for auction in October, raising more than $8 million.
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