Michael Nascimento has been sentenced to 13 years in jail for his role in a series of boiler room companies. Between July 2010 and April 2014, the scammers cold called members of the public promoting investment schemes in Madeira. They promised guaranteed returns of between 125% and 228%, and convinced more than 170 people to…
The Financial Conduct Authority has charged five people with conspiracy to defraud. They are accused of promoting investment schemes in Madeira through a series of boiler room companies. The companies allegedly took about £2.75 million from 175 investors.
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.
Eco Business Management, a company that sold carbon credits to the public as investments, has been closed down in the High Court in London for misleading potential investors. REDD-Monitor wrote about Eco Business Management in October 2014.