The High Court in London has ordered Diffraction Limited into liquidation following an investigation by the Insolvency Service. Diffraction Limited is another part of the web of companies around Eco-Synergies.
Following an investigation by the Insolvency Service, 13 companies that sold carbon credits as investments have been wound up in the UK’s High Court on the grounds of public interest. The companies had scammed people out of more than £19 million.
This is a story involving a company called Sustainable AgroEnergy, a jatropha plantation in Cambodia, boiler room companies, retail investors asking where their money went, banks in Switzerland, Tanzania and the British Virgin Islands, a member of the House of Lords, and the Serious Fraud Office.
Worldwide Commodity Partners Limited is a London-based commodity trading firm that is currently focussing on the carbon markets. Its website explains that “With carbon offsetting emerging as a rapidly growing market, an opportunity was clear.”