By Dave Simpson (April 12, 2022, 11:14 PM EDT) — A California federal judge sentenced the former chief financial officer of DC Solar to six years in prison Tuesday, and ordered him to pay $624 million in restitution, for his role in a Ponzi scheme that bilked investors out of more than $1 billion.
Accountant Robert A. Karmann admitted to his role in the scheme in December 2019, pleading guilty to charges of securities fraud and conspiracy to defraud the United States.
“In 2016, 2017 and 2018, Karmann oversaw the hidden circular transfers of funds, delivered false financial information to another co-conspirator for use in tax returns and tax documents, provided…
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