The UK government is to ban cold calling to sell pension investments. Philip Hammond, the UK chancellor, will announce the ban in his first budget statement tomorrow (23 November).
In January 2016, Thorn Medical, a healthcare company, announced that it was planning to list “within the next two months” on the London Stock Exchange with a valuation of £350 million. In February 2016, Lord Beaverbrook joined Thorn Medical as Chairman. In October 2016, Thorn Medical wrote to its shareholders to tell them that the company had withdrawn from its listing on the London Stock Exchange, but that a related US company would list on the Nasdaq Stock Exchange in January 2017.
I’ve been writing about boiler rooms and investment scams for the last four years. I started in May 2012 with a post about a warning from the Financial Services Authority about the dangers of buying carbon credits as investments.
Yesterday, the World Bank’s private sector arm, the International Financial Corporation launched a US$152 million bond aimed at supporting REDD and carbon trading. The deal demonstrates just about everything that’s wrong with REDD.
Three years ago, I wrote a post about a Dubai-based Eventus Alternatives, a company that specialised in selling carbon credits to retail investors. A week after the post, Eventus Alternatives’ solicitors threatened to sue me for US$250,000. Three years later, the company’s ex-director, Phil Wombwell, wrote a nice email asking me to remove the post.
On 6 July 2016, REDD-Monitor wrote about a company called Lochwood Capital. I wrote about the company after the company director, Alexander Johnson, had sent several emails complaining about a comment on REDD-Monitor that mentioned one of Lochwood Capital’s then-employees, Russell Brooker.
Last week, REDD-Monitor received a message from Boniface Mburaburirwe asking whether I have any buyers for carbon credits. I suspect Mburaburirwe hasn’t read much on REDD-Monitor, particularly not the series of posts about scam artists selling carbon credits to unsuspecting members of the public as investments.
Yesterday, “Fallguy” left a comment on REDD-Monitor. Fallguy is one of many people in the UK who have been scammed into buying carbon credits as an investment. In his comment, he wrote about a recent phone conversation he had with Brian Carter from Novus Capital Markets. Carter was inviting him to get scammed once again.
I’m guessing, but you probably don’t need me to tell you that more than half of the population the United Kingdom has just voted to leave the European Union. More than half of the population that voted, that is – 28% didn’t vote.