By Chris Lang 360 Invest Group was a scam company that sold carbon credits to retail investors. REDD-Monitor first wrote about the company in August 2013. 360 Invest Group targeted pensioners with high pressure sales. In 2016, I wrote two more posts featuring 360 Invest Group based on a series of emails between 360 Invest…
Tag: Carbon Credits
Robert Sedgwick: The solicitor who helped London Capital & Finance sell mini-bonds also helped scammers sell “carbon benefit units” from the April Salumei REDD project in Papua New Guinea
By Chris Lang In January 2019, an investment scheme called London Capital & Finance went into administration after an investigation by the Financial Conduct Authority.
Carbon credit fraudster Sami Raja appeals his prison sentence. While he carries on scamming in Dubai
By Chris Lang In January 2019, Sami Raja was sentenced to eight years in prison at Southwark Crown Court. He was found guilty of conspiracy to defraud and money laundering. Between January 2012 and August 2013, Raja and others miss-sold carbon credits to 130 retail investors. Two companies were involved in the £2.4 million fraud:…
Qantas is selling carbon offsets from Papua New Guinea’s April Salumei REDD project to offset its flights. Meanwhile, the PNG government just announced that the project was halted over landowner disputes
“Airlines are taking action on climate change, but we need to do a better job of telling people that.” That’s Alan Joyce, the Chief Executive Officer of Qantas Airways, in a statement he put out last week. “I’m proud of what Qantas, and our customers, are doing,” he adds.
IFC’s forest bonds: Quantitative easing for sub-prime REDD carbon credits
A recent report by the Rainforest Foundation UK describes the potential scaling up of the International Finance Corporation’s Forest Bonds programme as “One of the most worrying evolutions of GCF activities in the Congo Basin”.