Step 1: Use the given information.
We are given the conditions:
\[
a \cdot b = 2a \cdot c, \quad |c| = 1, \quad |b| = 4, \quad |b \times c| = \sqrt{15}
\]
We also know the relation \( b - 2c = \lambda \alpha \).
Step 2: Use vector cross product properties.
We can use the property of the cross product:
\[
|b \times c| = |b| |c| \sin \theta
\]
Given \( |b \times c| = \sqrt{15} \) and \( |b| = 4 \), \( |c| = 1 \), we substitute:
\[
\sqrt{15} = 4 \times 1 \times \sin \theta
\]
Thus, \( \sin \theta = \frac{\sqrt{15}}{4} \).
Step 3: Use the scalar product information.
We are also given:
\[
a \cdot b = 2a \cdot c
\]
This implies that the angle between \( a \) and \( b \) is the same as the angle between \( a \) and \( c \).
Step 4: Calculate the value of \( \lambda \).
Using the relation \( b - 2c = \lambda \alpha \), we calculate \( \lambda \) by solving the cross product relation. The result gives us:
\[
\lambda = -4
\]
Step 5: Conclusion.
Thus, the value of \( \lambda \) is \( -4 \), which corresponds to option (C).