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Environment & Energy Report

Fourth Defendant Pleads Guilty in $1 Billion Solar Ponzi Scheme

Jan. 14, 2020, 11:52 PM

A Northern California man will face up to 15 years in prison after pleading guilty to his role in a Ponzi scheme that involved $2.5 billion in transactions and caused $1 billion in losses based on purported investments in solar energy hardware, prosecutors announced Tuesday.

Ryan Guidry, who became vice president of operations for the energy company, which was based in Benicia, Calif., pleaded guilty to one count of conspiracy to commit an offense against the U.S. and one count of aiding and abetting money laundering, according to the plea agreement.

Guidry is the fourth co-conspirator to plead guilty...

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