Carbon-Credit Investor Lost Inheritance To Scam, Jury Hears
Law360, London (May 7, 2019, 9:54 PM BST) -- An investor testified Tuesday against eight men accused of running a £7 million ($9.2 million) carbon-emission credits scam, telling a London jury he lost £50,000 he expected would fund eco-friendly projects.
On the witness stand, Charles King told jurors that employees of one of the companies operated by the defendants aggressively pushed him to put more and more of the money he had been bequeathed by an uncle into certificates representing projects that reduce carbon dioxide or other greenhouse gases.
The permits, used by companies to offset the pollution they create, can be purchased or traded for money but prosecutors have accused the men behind...
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