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Carbon Credit Scam Wiped Out Life Savings, Jurors Hear

Law360, London (May 2, 2019, 11:24 PM BST) -- Seven men operated a yearslong fraud involving purported carbon-credit investments that conned £7 million from investors, some who were elderly and lost their life savings, a London jury heard Thursday during opening statements in the men's fraud trial.

Jane Osborne of 2 Harcourt Buildings, representing the Crown Prosecution Service, told jurors that the seven men, plus one other defendant standing trial for alleged money laundering, focused on “making as much money as possible ... and not getting caught" by selling the permits for two or three times what they were worth — if the money went into the credits at all. ...

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