UK Launches Crackdown On Carbon Credit Tax Fraud

Law360, New York (August 21, 2009, 1:49 PM EDT) -- British officials are investigating a rise in tax fraud related to the trade of carbon emissions allowances, following a crackdown on a scheme that allegedly cheated the government of £38 million ($63 million) in tax revenue from the sale of the credits.

After a raid on 27 businesses and homes outside London on Wednesday, HM Revenue & Customs and the European Union’s law enforcement wing apprehended six men and one woman for their alleged roles in the carbon credit tax fraud scheme, the British agency said....
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