Con Artists Spent Ponzi Scheme Money on Pricey, Rare Shelby Pair
Couple accused of running a con game targeting Warren Buffett, spent millions on boats, jets, cars and a million-dollar Shelby Mustang.
Jeff and Pauline Carpoff have a taste for the fine things in life. That includes a love of rare Shelby Mustangs. Unfortunately, to finance their champagne wishes and caviar dreams, they preyed on others in a Ponzi scheme. Using their company DC Solar as a front, the Carpoffs fleeced millions from unsuspecting investors. One notable victim of their con was Warren Buffett, billionaire CEO of Berkshire Hathaway.
According to Markets Insider, the Carpoffs conned about $800 million total. They convinced clients to buy mobile solar generators. But when something seemed off, the FBI got involved. There was no solar revolution, and the investments instead lined the couples pockets. Investigators have recently revealed some of what the couple spent all that money on.
Accessing the Carpoffs bank and vehicles records, investigators discovered a treasure trove of 50 vehicles. In recently filed court filings, it was revealed that some dirty cash went towards a Dodge Challenger SRT Demon, a few Jaguars, a pair of Bentleys, a Cadillac, and a 2007 Ford Shelby GT500 Super Snake valued at one million dollars.
The Mustang, sold at auction by Barrett-Jackson carried the VIN #007. The rare GT500 was originally owned by Mark Fields, former CEO of Ford. It is truly Ford royalty. The stunning GT500 carries the rare 600-plus horsepower Super Snake 40th Anniversary Edition conversion, which was done by none other than the man himself, Carroll Shelby.
However, their Mustang desire wasn’t sated there, they also picked up a 1967 GT500 Super Snake at Mecum Auctions for a cool $192,550.
Among their other purchases, the Carpoffs also picked up a jet, a boat, motor home, Cartier watches, jewelry, a private box at the Las Vegas Raiders’ new stadium, and multiple real estate holdings. That’s definitely one way to round out a portfolio.
No surprise, the Carpoffs are facing serious jail time, and are currently awaiting trial. Of course, they have also filed for bankruptcy. Shocker.
As for the sweet rides? They will likely be on the auction block again soon as the feds have seized most assets from the scheming duo.
Images: Barrett-Jackson/Mecum Auctions
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