El Paso Duo Cooked $2 Million Solar Scam

EL PASO, TX – Two El Paso men are staring down federal prison time after a jury slammed them with convictions in a brazen $2 million Ponzi scheme, the Department of Justice announced today. Clarence Counterman, 59, and Robert Loya, 52, bilked investors out of their savings with promises of riches in the booming solar energy sector – promises they never intended to keep.

The pair were found guilty of one count of conspiracy to commit wire fraud, alongside multiple counts of wire fraud. Clarence Counterman was convicted on 14 counts, while Robert Loya faced 13. While both men faced multiple charges, Loya was acquitted of two wire fraud counts and Counterman, one. The scheme ran from December 2008 to October 2013, preying on Counterman’s own tax preparation clients and other unsuspecting investors.

Federal investigators detailed how Counterman and Loya used a web of shell companies – Renewable Energy Consultant, Inc. (Nevada), EP Solar Technologies, Inc. (Nevada), LITTCE, Inc. (Texas), and Eco Global Corporation (Texas) – to lure in victims. They dangled the prospect of high rates of return, but instead diverted the money to fund their lavish lifestyles. The scam relied on a classic Ponzi structure: paying off early investors with money stolen from newer ones, creating the illusion of profitability and keeping the scheme afloat – until it inevitably imploded.

The investigation revealed a staggering loss for over 50 investors, who collectively lost more than $2.1 million. A third defendant, Leopoldo Parra, 54, of El Paso, previously pleaded guilty to conspiracy and wire fraud charges on August 10, 2016, and awaits sentencing. He, too, faces up to 20 years in prison. The feds say Parra was instrumental in diverting funds for personal use.

“This wasn’t a failed business venture; it was a calculated theft,” said a source close to the investigation. “These men exploited the trust of their victims, promising them a future while lining their own pockets.” Both Counterman and Loya now face up to 20 years in federal prison for each count of conviction, along with a hefty order to repay their victims. The sentencing is scheduled for February 2, 2017, before United States District Judge David Briones. Parra’s sentencing is scheduled for November 30, 2016.

The case was a joint effort by Homeland Security Investigations (HSI) and the Federal Bureau of Investigation (FBI). Assistant United States Attorneys Steve Spitzer and Chris Skillern are leading the prosecution. The Grimy Times will continue to follow this case and report on any further developments as these con men finally face the music.