Yesterday, REDD-Monitor wrote a post about a network of scam companies. Not all companies with the word “Oakmount” in their names are scams. But the article featured several that are.
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.
Last week, someone asked me about a London-based company called EverGreen Solutions. The company claims to plant Christmas trees and asks retail investors to pay for the tree seedlings. EverGreen promises to look after the trees and sell them. Investors would get a profit of at least a 25%. Except that they won’t, because it’s a scam.
A company called ALTR Alternative Fund Managers is cold calling people telling them it can sell the worthless carbon credits they were scammed into buying as an investment. Of course, they’ll need to pay an advance fee. And of course ALTR Alternative Fund Managers is a scam.
In a post last week, I described the carbon credits sold by boiler room scammers to retail investors as “near-worthless”. Following the post, “XYZ” left a comment. “Near-worthless implies not 100% worthless,” he wrote. “Are you saying there is some worth in my carbon credits and if so who will buy them?”
If you have been the victim of a scam, your name will be on a list to be cold called – and scammed – again. These “sucker lists” include names, addresses, phone number and background information about the person scammed. They are traded between boiler room operations, because scammers know that people who have been scammed are more than likely to fall for another scam.
A company called Grayson Wealth Management is cold calling people who have been scammed into buying carbon credits. Grayson Wealth Management’s telemarketers offer them a way of getting rid of their carbon credits. It’s a scam, of course.
“Credit cards that help the planet.” That’s the sales pitch from a company called Sustain:Green. With the company’s new biodegradable credit card you can “Fight climate change”, “Fund rainforest preservation”, and “Reduce your carbon footprint”.
G2G Investments Ltd is “an independent brokerage specialising in offering investment opportunities in gold, silver, and other alternative investments to private clients seeking to hold wealth in capital assured tangible assets”. At least that’s what it says on the company’s website.
This is the first in a series of posts looking at the activities of Emerald Knight, yet another London-based scam company. From London the story takes us to Panama, Costa Rica, Papua New Guinea, Switzerland, Cambodia, Gibraltar, the Cayman Islands and quite possibly a few more countries along the way.
The Court of Appeal has upheld a February 2014 High Court ruling in which the Financial Conduct Authority won their case against Capital Alternatives and other firms. The FCA accused the firms of “promoting and/or operating collective investment schemes (CISs) in the UK illegally and without our authorisation”.
A company called Rothstein Capital & Partners is contacting people who have been scammed into buying carbon credits or other near-worthless investments. The company claims that it can offer an exit strategy. Of course, Rothstein Capital & Partners wants an advance fee. And of course, it’s a scam.