- A couple accused of scamming Warren Buffett’s Berkshire Hathaway conglomerate in a “Ponzi-type” scheme splurged more than $US40 million on real estate, according to federal investigators.
- Jeff and Pauline Carpoff used funds from the fraud to buy a Las Vegas mansion, a pair of condos in Lake Tahoe, a vacation home in Scottsdale, and dozens of other properties, according to court filings.
- Five of their biggest property purchases are shown below.
- Visit Markets Insider’s homepage for more stories.
A couple accused of scamming Warren Buffett splurged more than $US40 million on a Las Vegas mansion, a pair of condos in Lake Tahoe, a vacation home in Scottsdale, and dozens of other properties since 2011, according to federal investigators.
Jeff and Pauline Carpoff allegedly took money from dozens of investors including Buffett’s Berkshire Hathaway conglomerate in a $US800 million “Ponzi-type” scheme, according to court filings. The FBI used bank records, title deeds, and public records to identify 25 properties the pair purchased for more than $US29 million in total, the filings showed.
Five of their biggest residential purchases are shown below.
30 Pebble Dunes Court, Las Vegas, Nevada
Price: $US2.55 million
This Las Vegas mansion spans 6,902 square feet and has three bedrooms and 4.5 bathrooms, according to Zillow. It boasts a wellness center, movie theatre, wine cellar, gourmet kitchen, home automation, resort-style pool and spa, and mountain views, according to Redfin. It was bought for just over $US2.5 million in June 2016.
4101 Lake Tahoe Blvd, Units #217 and #225, South Lake Tahoe, California
Price: $US3.68 million
These two condos are located in the Zalanta Resort at the Village in South Lake Tahoe. Unit 217 spans 2,291 square feet with four bedrooms and four bathrooms, according to Zillow, and was bought for $US1.95 million in June 2017.
Unit 225 spans 1,803 square feet, has three bedrooms and three bathrooms, and was bought for $US1.725 million in the same month, according to Zillow.
7373 E. Clubhouse Drive, Unit 14, Scottsdale, Arizona
Located in The Boulders golf and spa resort, this Scottsdale home has four bedrooms and 3.5 bathrooms, and was bought for close to $US1 million in June 2018, according to Zillow.
3779 Overlook Court, South Lake Tahoe, California
Price: $US1.39 million
Described as a “luxury modern mountain home” on Zillow, this house offers views of Lake Tahoe and lies minutes away from a ski lodge, ski run, and golf course. It boasts five bedrooms, six bathrooms, large games room, wet bar, two laundry rooms, three fireplaces, walk-in closets, a hot tub, multiple decks, and an elevator.
It was bought for close to $US1.4 million in November 2015.
811 Brown Street, Martinez, California
Price: $US3.5 million
This address in Martinez, California, is home to The Colonial apartments, a 12-unit property, according to LoopNet. The Carpoffs allegedly used $US3.5 million in funds tied to the investment fraud to make the purchase, according to court filings.
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