Carbon credit fraud is one of the latest investment frauds seen cropping up recently, as we see scams exposed worldwide where businesses use boiler room tactics to sell carbon credits for inflated prices as investment opportunities, promising massive returns, when in reality, no such investment potential exists. We are also seeing what is known as ‘missing trader intra-community fraud’ (MTIC) or carousel fraud; the theft of VAT from a government, by exploiting multi-jurisdictional trading where the movement of goods between jurisdictions is VAT-free. The fraud involves the trader exporting carbon credits free of value-added tax (VAT) from one EU member state to another and then selling the carbon credits with VAT added on, keeping the VAT for themselves.
Although trading carbon credits is entirely legitimate, scamming in the industry may lead to many people involved in this type of business being investigated. We can provide expert representation and advice for those involved in financial investigations for carbon credit fraud.
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Warwick Crown Court
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Birmingham Crown Court [July 2017]
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Inner London Court 10.01.18