A company called Oakmount Management Partners Ltd is offering people who have been scammed into buying carbon credits as investments an exit strategy. Of course there’s an advance fee involved. And of course it’s a scam.
Scams and frauds were the top stories on REDD-Monitor in 2014. The previous year, all ten of the most popular stories were about companies selling carbon credits as investments. This year the top seven stories were about scams.
A company called Consultants Europe is cold calling people, claiming that they can sell near-worthless carbon credits for more than £5.75. Of course, there’s an advance fee to be paid of 45p per credit.
In 2013 the top story on REDD-Monitor was the carbon credits as investments scam. All of the top ten posts on REDD-Monitor were about this story, which involves companies (largely UK-based) pushing carbon credits onto unwary retail investors.
Kingsley Advice Group claims to have “a long history of success” and to be a “trusted name in financial services”. Both of these statements are lies. The company was recently created. And it’s a scam, not a “trusted name”.
“Hamilton Carter are a specialist investment consultancy, focused in carbon credit trading, emissions offsetting, gold trading, property funds and other alternative investments.” If that statement from the company’s website doesn’t set off alarm bells, here are some aspects of the Hamilton Carter’s operations that will.
Naked Capitalism is a blog set up by Yves Smith. She’s an expert on investment banking and the founder of Aurora Advisers, a New York-based management consulting firm. Carbon Neutral Investments is a company that, before it changed its name, provided services for a long list of companies that sold carbon credits as investments.
Almost a year ago, the BBC secretly filmed Luke Ryan, the director of Enviro Associates, making misleading claims about how much money can be made by investing in carbon credits. Ryan reckoned there was “serious money” to be made. Of course, we know he was lying. An online survey by the Financial Conduct Authority found that no one had made any money by investing in carbon credits.
A recovery room is a company that claims to offer assistance to people who are the victims of boiler room fraud. For a fee, of course. The recovery room is the second part of the boiler room scam.