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UK: Put down that carbon credit and nobody gets hurt!

December 10, 2012

Police raid carbon scammers across southern England.

…police investigating a suspected fraud network of investment firms selling worthless carbon credits arrested ten men and a woman in co-ordinated raids on offices in the City of London, Essex and Hertfordshire.

The raids follow mounting official concern at the scale of carbon credit scams, where investors pay thousands of pounds for overpriced certificates that are said to be linked to environmentally friendly projects such as tree planting. 

There is virtually no resale market for the certificates and investors typically lose every penny. 

Financial Mail, which has been investigating the same firms, joined police as they burst into the open-plan headquarters of investment company Hudson Forbes on the third floor of a modern building close to the Tower of London. 

Staff were ordered not to make phone calls, so that they could not tip off other police targets, and to produce identification. 

Several were arrested on suspicion of conspiracy to defraud and money laundering. Others were released throughout the morning as their identities were confirmed and criminal record checks were carried out. Computers and company records were seized and carried from the building in sealed plastic evidence bags.

Mail Online

worthless carbon credits’ …are there any other kind?

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