The Government Begins to Hunt Down Individuals Who Received Commissions and Referral Fees from RaPower-3
By Anthony Diosdi Over the past few years, a company known as RaPower-3 has marketed ownership in solar lenses to investors throughout the United States. Investors were promised ownership in solar lenses located throughout the Southwestern United States. Investors were told that they could “zero out” their federal income tax liability by buying enough solar lenses and claiming both a depreciation deduction and solar energy tax credit for the lenses. The purported solar energy technology and solar lenses, however, did not work and could not generate energy. Notwithstanding the fact that the solar lenses and technology never worked, RAPower-3 continued to sell solar lenses to customers emphasizing that they would qualify for depreciation deductions and/or the solar energy tax credit. Between 45,205 and 49,415 solar lenses were sold to customers.…