A federal judge in Sacramento, California sentenced lawyer Ari Lauer on Monday to more than 11 years in prison for his role in an estimated $912 million Ponzi scheme involving California solar power supply company DC Solar.
Lauer, 61, pleaded guilty in October to 23 criminal counts, including bank fraud and wire fraud affecting a financial institution, one week before his scheduled trial.
As outside counsel to DC Solar, Lauer played a key role in “the largest criminal fraud in the history of the Eastern District of California,” U.S. Attorney Eric Grant said in a statement Monday.
“As the only attorney involved, he should have been the first person to recognize the fraud and stop it,” Grant said. “Instead, he was the last person to accept responsibility, only doing so on the eve of trial.”
Source: US solar firm’s lawyer sentenced to 11-year prison term for Ponzi scheme role | Reuters
