Last week, REDD-Monitor wrote about the closure of 19 companies in the High Court in London. The companies sold more than 5 million carbon credits to retail investors, for more than £36 million. Hundreds of pensioners were duped out of their life savings.
By Chris Lang On 3 February 2016, the High Court in London ordered 19 companies into liquidation, following an investigation by the Insolvency Service. One of the companies is CNI (UK) Ltd, whose director Edward Carlton had previously worked as “Head of UK Operations” at Carbon Neutral Investments.
In 2013 the top story on REDD-Monitor was the carbon credits as investments scam. All of the top ten posts on REDD-Monitor were about this story, which involves companies (largely UK-based) pushing carbon credits onto unwary retail investors.