Senior investor Warren Buffett is known as a “share god”. His own and his team have a strong natural stock picking ability. However, savvy such as “the god of stocks” will also have a leak. Berkshire Hathaway, which is at the helm, announced that it had to allocate 377 million yuan (about 2.9 billion Hong Kong dollars) for investing in a suspected fraudulent solar power project.
Bar County announced its first-quarter financial report last week, stating that between 2015 and 2018, it had invested 340 million yuan in multiple tax equity investment funds until the company was informed that federal law enforcement officers accused the fund promoters of fraud.
According to DC Solar’s website, the company is engaged in the production and leasing of mobile renewable energy products, including generators, lighthouses, and telecommunications equipment, as well as electric vehicle charging stations to meet entertainment, communications and construction needs.
According to CNBC, in February of this year, the company has filed for bankruptcy protection.