A company called Bradlodge Corporate Trading is cold calling people who have been scammed into buying carbon credits as investments. Bradlodge Corporate Trading’s boiler room conmen tell people that their company can sell their carbon credits. For an advance fee, of course.
The Trend is Blue is a company that used to sell near-worthless carbon credits as investments. That’s the boiler room part of the carbon credits scam. Now the company rings people up to tell them that they have a buyer for their near-worthless carbon credits. For an advance fee, no doubt. That’s the recovery room part of the scam.
African Land Ltd had a simple offer: Invest in “low-cost, high potential” farmland in Sierra Leone. “We Harvest – You Profit” was the headline of one of the company’s brochures.
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.
REDD-Monitor’s occasional series, Carbonballs features the howlers made by con artists selling carbon credits as investments. This time round, it’s Enviro Associates trying to explain carbon credits to gullible investors.
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.
Global Forestry Investments claims to be an ethical investment company. But hundreds of investors are now asking where their money went.
In February 2014, the UK’s Financial Conduct Authority won a case in the High Court against two investment schemes promoted by Capital Alternatives and other firms.
Last week City of London Police led the biggest ever international operation against boiler room fraud, resulting in the arrests of 110 people, mainly in Spain and the UK.
Carter & Campbell claims to offer “Investment you can trust, experience that produces results and a client focussed company.” The reality is that it is running a recovery room scam.
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 credits.