Paul Seakens and Luke Ryan have been jailed for their role in a £36 million carbon credits investments scam.
In February 2016, the High Court in London ordered 19 companies into liquidation. One of the companies was CNI (UK) Ltd, one of three companies that emerged in 2013 from the ashes of Carbon Neutral Investments, a company involved in selling carbon credits to retail investors.
Ten days ago, REDD-Monitor wrote about a UK-based company called Enviro Associates, after the BBC had secretly filmed a director of the company, Luke Ryan, making “misleading” claims about the amount of money to be made by investing in carbon credits.
Earlier this week, a commenter on REDD-Monitor asked about a company called Carbon Neutral Trading Exchange. My response was sceptical. It seemed to me that this was a company that looked as though it was attempting to profit by selling over-priced voluntary carbon credits.
By Chris Lang The Financial Services Compensation Scheme has paid out £4.7 million over a firm of independent financial advisers called Total Wealth Solutions. Total Wealth Solutions went into voluntary liquidation in June 2017.