Earlier this month, REDD-Monitor wrote about a Dubai-based company called Advanced Global Trading. AGT is yet another company that sells voluntary carbon credits as an investment. REDD-Monitor asked whether the company was a boiler room, a Ponzi scheme, or both.
Category: UK
Matthew Ames, director of carbon credits company Forestry for Life, charged with £1.2 million fraud
Forestry for Life was a forest carbon trading company set up in 2009 with the aim of raising US$5 billion by 2013. The plan failed dramatically, and this year the company’s founder and director, Matthew Ames, appeared at the Old Bailey, charged with fraud.
Why doesn’t VCS warn against buying carbon credits as an investment?
There are many reasons not to buy voluntary carbon credits as an investment. The price is likely to fall over time. There is no secondary market. And you’re more than likely to be ripped off when you buy carbon credits.
MH Carbon in liquidation: What to do if you bought carbon credits from MH Carbon
MH Carbon was established in September 2010 and went into voluntary liquidation in May 2013. During this period, the company sold carbon credits to more than 500 people, at a total cost of £18.7 million.
MH Carbon goes into voluntary liquidation
In May 2013, MH Carbon went into voluntary liquidation. How much of the tangled web of carbon credit deceit will unravel as a result?