The Billion-Dollar Ponzi Scheme That Hooked Warren Buffett and the U.S. Treasury

2023-05-08    

Jeff Carpoff was a good mechanic. But as a businessman, he struggled. In the two decades since high school, he’d lost one repair shop after another, filed for personal bankruptcy, and watched a lender foreclose on the small house in a California refinery town where he’d lived with his wife and two young kids. By 2007, he was 36, jobless, and adrift.

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