A former energy executive in California who took part in an US$1 billion solar power fraud scheme that bilked billionaire investor Warren Buffett’s company and many others was on Tuesday sentenced to six years in federal prison and ordered to pay US$624 million in restitution.
Robert Karmann, 55, was chief financial officer for DC Solar, a company based in Benicia, California, that sold mobile solar generator units mounted on trailers.
The company marketed the generators between 2011 and 2018 as being able to provide emergency power for cellphone companies, or to provide lighting at sporting and other events.
However, the company executives started