Capital Alternatives Limited was part of a network of scam companies that offered “investments” to the general public including a rice farm in Sierra Leone, and carbon credits from projects in Sierra Leone, Brazil, and Australia. Last week, the High Court in London found that these “investments” were illegal collective investment schemes.
Last week, José Ilanga the Director General in charge of forests at the Ministry of Environment and Sustainable Development in the Democratic Republic of Congo, announced that plans were underway to lift the country’s 16-year-old moratorium on new logging concessions. Today, more than 50 environmental and human rights organisations have written to key donor governments and agencies, including Norway, UK, France, USA, and the World Bank, calling on them to suspend funding immediately to the DRC government for forestry and forest conservation.
The Kariba REDD+ Project covers an area of 784,987 hectares in four districts of northwestern Zimbabwe. The project started in July 2011, and aims to generate almost 52 million carbon credits from reduced deforestation over its 30-year project life. The project is certified under the VCS and Climate Community and Biodiversity Standard systems.
Asia Beijing Corporation is cold calling victims of Renwick Haddow’s scam, Bar Works. Asia Beijing Corporation claims to be able to “exchange the toxic asset” for shares in Ant Financial Services Group. Of course, Asia Beijing Corporation is running a ridiculously obvious recovery room scam.
Last year, REDD-Monitor wrote a series of posts about Renwick Haddow’s latest scam, Bar Works. The most recent post was in July 2017, after the Securities and Exchange Commission filed a legal complaint against Haddow. The complaint alleged that Haddow fraudulently raised almost US$38 million from investors.
In July 2017, a group of over 150 people who had been scammed into buying “carbon benefit units” got in touch with REDD-Monitor. Several London-based boiler room operations, including Industry RE, had sold them the “carbon benefit units”, supposedly as investments. Unfortunately they were worthless.
Sustainable Forestry Management Ltd was the name of a company incorporated in the Bahamas in October 1999. The company set up forestry projects and traded carbon credits. Its directors included Eric Bettelheim (Executive Chairman and General Counsel), Alan Bernstein (Chief Executive Officer), and Hugh van Cutsem (Director).
April Salumei is a REDD project in Papua New Guinea. Various companies, including Qantas, Eneco Energy Trade, and Norwegian supermarket chain Rema 1000, have bought carbon credits from the April Salumei REDD project. Should you so wish, you can buy carbon credits from the project on the USAID-funded website Stand for Trees.
Thorn Medical has written to shareholders to tell them that the company is insolvent and will be placed in voluntary liquidation.
Thorn Medical is a healthcare company, founded in July 2014 by Jack Kaye. In 2015, the company announced that it was planning a £350 million listing on the London Stock Exchange. A listing on the USA’s Nasdaq was also planned. In early 2016, the company appointed Sir Eric Peacock, Sir John Lucas-Tooth, and Lord Beaverbrook to its board.
A company called Koenig Rowe Campbell Alliance is cold calling people in several countries, claiming to be a wealth advisory firm established in 1978. KRC Alliance takes clients’ money and claims to invest it. The investment will need to be increased, for whatever made up reason, to reach a certain number of shares. Then, in order to receive a payout, clients have to pay a security bond. Then another. Then another.
On 30 June 2017, the Securities and Exchange Commission filed a legal complaint against Renwick Haddow. The SEC alleges that Haddow fraudulently raised almost US$38 million from investors. The SEC has obtained an emergency asset freeze against Haddow and his companies named in the complaint.
Since January 2017, REDD-Monitor has written a series of posts about Renwick Haddow’s latest investment scheme, Bar Works, a New York-based co-working startup company. Last week, Law360 reported that Bar Works “is now the subject of at least two lawsuits from investors who call it a multimillion-dollar Ponzi scheme”.