High Court closes £3m carbon credit 'investment shark' scam

The High Court has ordered three companies involved in a £3.2m scam selling carbon credits into liquidation following an investigation by the Insolvency Service.

Global Carbon Broking supplied carbon credits to Global Neutral which then marketed them to the public at very high prices. Both companies had earlier been ordered into provisional liquidation on 19 September 2012 and 8 November 2012 respectively. A third carbon credit supplier, Future Carbon, was additionally wound up on grounds of public interest. All three companies were inextricably linked with World Future, a company that raised some £2.5m by selling carbon credits in the same misleading way to the public. World Future and two other connected companies, Capital Wealth and Four...