California couple plead guilty to running US$1 billion solar scam

AN American couple have pleaded guilty to running a US$1 billion (RM4 billion) solar investment scam that they used to finance a luxury lifestyle, including buying Burt Reynolds’ sports car, authorities announced yesterday.

The California pair were taking money from investors for nonexistent mobile solar generators, which they used to buy a 1978 Firebird that once belonged to the late Hollywood star, luxury homes in the Caribbean and Mexico, jewellery and a baseball team, said authorities in a statement.