A French court has sentenced businessman Arnaud Mimran to eight years in jail and a €1 million fine, for his role in a €283 million carbon tax fraud. The scam took place from November 2008 to June 2009, during which time the scammers pocketed €283 million in non-paid VAT on €1.4 billion worth of emission allowances.
In April 2016, REDD-Monitor wrote a post featuring a series of emails that ouline how a pensioner called Miriam was scammed into handing over £23,000 for carbon credits, which the scammers claimed were an investment. Ten days ago, Miriam sent REDD-Monitor some more emails. This post features these new emails.
Three weeks ago, REDD-Monitor wrote a post about three carbon credit fraud suspects who are wanted in Germany for tax evasion and money laundering. On Sunday, I received an email from “AS” at Salya Group accusing me of having “wrongfully written your blog” and requesting that the post is removed.
On 13 June 2013, the European Investment Bank agreed to give up to €25 million to Athelia Climate Fund. This is the first time that the European Investment Bank has funded a European carbon fund. It is also the first time that the EIB has supported REDD, and it is doing so through a financial intermediary.
Beta Commodities Limited was a boiler room operation that cold called retail investors and scammed them into buying carbon credits as investments. The company’s director James Michael Cable has now been disqualified as a director for 14 years.
Over the weekend, someone called Lee Hales contacted REDD-Monitor. Hales wants to speak to investors who have been scammed into buying carbon credits as investments. I wouldn’t trust Hales, or his company Prestige Investment Group Limited, as far as I could throw them.
This is a story about how a pensioner was scammed into buying carbon credits as an investment. Miriam contacted REDD-Monitor in August 2014, to ask whether her 4,000 carbon credits were worth anything. She told me that 360 Invest Group had persuaded her to buy the carbon credits and that she’d paid the money to a firm of solicitors, Colemans-CTTS LLP, in Kingston upon Thames.
Celestial Green Ventures is an Irish carbon trading company, registered in November 2010. In 2011, the company claimed to have carbon rights to 20 million hectares of Brazil’s rainforest. The company aimed to become the “leading global supplier of REDD carbon credits in the Voluntary Carbon Market”.
A company claiming to be called “Blackrock Commodities” is cold calling people who have been scammed into buying carbon credits as investments. “Blackrock Commodities” claims to be able to sell the carbon credits for £5 to a Swedish company called Asio Capital. All you have to do is pay an advance fee. It’s a scam, of course.
On 3 February 2016, the High Court in London ordered 19 companies into liquidation, following an investigation by the Insolvency Agency. One of the companies is CNI (UK) Ltd, whose director Edward Carlton had previously worked as “Head of UK Operations” at Carbon Neutral Investments.
Capital Alternatives was part of large network of companies that sold investments in hotels, carbon credits, agricultural land, Voice over Internet Protocol, timber, diamonds, gold, platinum, or water bonds.