- The couple accused of fleecing Warren Buffett’s Berkshire Hathaway as part of an $US800 million “Ponzi-type” scheme used money from the scam to buy at least 90 vehicles, according to federal investigators.
- Jeff and Pauline Carpoff bought two Jaguars, two Bentleys, a Cadillac, a boat, a luxury motorhome, and a million-dollar Mustang, court filings show.
- The list below shows 11 of the priciest vehicles they purchased.
- Visit Markets Insider’s homepage for more stories.
The couple accused of fleecing Warren Buffett’s Berkshire Hathaway in an alleged $US800 million “Ponzi-type” scheme bought at least 90 vehicles using funds from the scam, according to federal investigators.
Jeff and Pauline Carpoff’s company, DC Solar, financed their purchase of luxury vehicles including two Jaguars, two Bentleys, a Cadillac, a boat, a luxury motorhome, and a million-dollar Mustang, court filings show.
They made the purchases between 2011 and 2018, when they also spent more than $US40 million on real estate including a Las Vegas mansion, two condos in Lake Tahoe, and a vacation home in Scottsdale, according to court documents.
“We completely disagree with the [FBI’s] claim that DC Solar was a Ponzi scheme and with any assertion that Jeff Carpoff acted improperly,” said Malcolm Segal, the Carpoffs’ attorney, in an email to Business Insider. He added they have been working to “reimburse investor companies to see that they do not suffer a loss.”
Federal investigators used bank and vehicle records to identify the makes and models of more than 50 vehicles bought by the Carpoffs, and how much they paid. The list below shows 11 of the priciest ones.
2017 Cadillac CTS-V — $US95,105
2012 Jaguar XKR — $US98,682
Bennington Pontoon — $US100,000
2018 Dodge Challenger SRT Demon — $US105,682
Prevost Outlaw Motorhome — $US125,000
1967 Ford Mustang GT 500 Super Snake — $US192,550
2014 Jaguar XK – $US195,521
1930 Cord L29 Brougham — $US300,000
1969 Plymouth Road Runner — $US325,800
Two Bentleys — $US372,009
The makes and models of the Bentleys weren’t disclosed in the court documents.
Paulette Carpoff drove a burgundy-coloured Bentley, Bloomberg reported, citing people who had offices with a view of her company’s parking lot.
2007 Ford Mustang GT 500 Super Snake — $US1,000,000
The Carpoffs bought this Mustang for $US1 million at a charity auction, according to Jeff Carpoff’s Twitter account.
The funds were earmarked for first responders injured or killed during the Las Vegas shooting in October 2017, according to the auction listing. The car was one of the first GT 500s built since 1970, and was first purchased by former Ford CEO Mark Fields, the listing said.