A little over a month ago, REDD-Monitor wrote about a company called Prestige Investment Group Limited. The company director, Lee Hales had written to REDD-Monitor explaining that he wanted to speak to people who had been scammed into buying carbon credits as investments. Hales was offering to buy carbon credits … read more
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Response from Lee Hales, Prestige Investment Group Limited: “Please remove the information you have posted about on your website”
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An email trail of a carbon credit scam (part 2). Featuring 360 Invest Group, Carbon-ex, and Colemans-CTTS
In April 2016, REDD-Monitor wrote a post featuring a series of emails that ouline how a pensioner called Miriam was scammed into handing over £23,000 for carbon credits, which the scammers claimed were an investment. Ten days ago, Miriam sent REDD-Monitor some more emails. This post features these new emails. … read more
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FCA charges five people with £2.75 million boiler room scam, including Michael Nascimento and Jeannine Lewis
The Financial Conduct Authority has charged five people with conspiracy to defraud. They are accused of promoting investment schemes in Madeira through a series of boiler room companies. The companies allegedly took about £2.75 million from 175 investors. The five people are Michael Nascimento, Hugh Edwards, Stuart Rea, Ryan Parker … read more
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Lochwood Capital: “Your site has comments sections which defame one of my employees”
Lochwood Capital is a company that was registered in the UK on 29 July 2011. Back then, the company’s name was Infinitas Investments Limited. It was registered in the name of Barbara Kahan, who was 80 years old at the time. Kahan has been the director of tens of thousands … read more
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A company calling itself “Novus Capital Markets” is running a recovery room scam
Yesterday, “Fallguy” left a comment on REDD-Monitor. Fallguy is one of many people in the UK who have been scammed into buying carbon credits as an investment. In his comment, he wrote about a recent phone conversation he had with Brian Carter from Novus Capital Markets. Carter was inviting him … read more
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MED Investment Operations – Part 1: Anyone want to buy 345 million REDD carbon credits? Only US$6.80 each
Last week, REDD-Monitor received a message from Boniface Mburaburirwe asking whether I have any buyers for carbon credits. I suspect Mburaburirwe hasn’t read much on REDD-Monitor, particularly not the series of posts about scam artists selling carbon credits to unsuspecting members of the public as investments. Mburaburirwe’s message was short … read more
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MED Investment Operations – Part 2: “This model is recognized by international institutions such as Standard Conversion environmental assets of Forests in Transaction instruments”
Two weeks ago, REDD-Monitor received an email offering 345 million carbon credits for sale. The carbon credits were from a REDD project in Brazil and a company based in Malta called MED Investment Operations is offering them for sale at US$6.80 each. Last week, I wrote about the companies in … read more
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Response from Lochwood Capital –“REDD-Monitor website : Defamatory internet posts and publications”
On 6 July 2016, REDD-Monitor wrote about a company called Lochwood Capital. I wrote about the company after the company director, Alexander Johnson, had sent several emails complaining about a comment on REDD-Monitor that mentioned one of Lochwood Capital’s then-employees, Russell Brooker. Before joining Lochwood Capital, Brooker worked for various … read more
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MED Investment Operations – Part 3: MidiaGeo and InBECAS, the Brazilian Connection
A few weeks ago, REDD-Monitor received an email offering 345 million carbon credits for sale. A company based in Malta called MED Investment Operations is offering carbon credits from a REDD project in Brazil and them for sale at US$6.80 each. This post, the third in a series of posts … read more
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Response from Phil Wombwell, ex-director of Eventus Alternatives: “Since 3 years have passed I would like you to consider removing the article in its entirety”
Three years ago, I wrote a post about a Dubai-based Eventus Alternatives, a company that specialised in selling carbon credits to retail investors. A week after the post, Eventus Alternatives’ solicitors threatened to sue me for US$250,000. Three years later, the company’s ex-director, Phil Wombwell, wrote a nice email asking … read more
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Why is VCS so reluctant to help stamp out carbon credit scams?
Earlier this week, Dennis Myles left a comment on REDD-Monitor. Myles had been “approached” by someone calling themselves Timothy Davies, who claimed to work for Verified Carbon Standard (VCS). Davies asked for the details of the carbon credits that Myles had been scammed into buying as a so-called “investment”. Davies … read more
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A glimpse inside a boiler room
Most of the people I hear about who have worked in boiler rooms write to ask to have their names removed from either a post or a comment on REDD-Monitor. They are embarrassed, it seems, about having worked for a boiler room. Not Chris Smith. Smith is the “Chief Evangelist” for Inman News, a company that provides […]
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Industry RE and a very big REDD carbon credit scam
Between 2009 and 2013, a UK-based company called Industry RE fleeced members of the public out of at least £13.3 million. Last week, the Insolvency Service announced that Ian James Hamilton, the sole director of Industry RE, had been disqualified as a director for 15 years. Industry RE was ordered into compulsory liquidation in August […]
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The bamboo boom that went bust for investors. Featuring EcoPlanet Bamboo, Citadel/Highpoint Trustees and Emerald Knight
On Tuesday, 3 April 2012, BBC Radio 4 broadcast a programme about a company called EcoPlanet Bamboo. The company was establishing a bamboo plantation in Rama, Nicaragua, part-funded by “the world’s first bamboo bond”. EcoPlanet Bamboo aimed to raise US$12 million to fund the company’s plantations. The bond started life in 2011. Here’s Camille Rebelo, […]
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Bamboozled: Inside EcoPlanet Bamboo’s tangled investment web
In 2011 and 2012, a company called EcoPlanet Bamboo (UK) Ltd raised US$12 million by issuing bamboo bonds. The companies marketing the bonds, including Property Frontiers, EcoInvestments, and Emerald Knight promised returns of 500% over a 15 year investment period. In December 2015, EcoPlanet Bamboo, the US-based parent company of EcoPlanet Bamboo (UK) Ltd, sent […]
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Ecobamboo Lot promised a return of 26% a year from its bamboo plantations in Nicaragua. Now it’s closing down
A 2012 brochure from a company called Ecobamboo Lot makes investing in bamboo look very promising: “A rare opportunity to purchase a Deeded Bamboo Lot in Central America.” The company promised a return of 26% a year: “Bamboo lot owners will receive harvest income starting at year four. The ROI is forecasted at 26% per […]
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OffshoreAlert slams Operation Rico: “When it comes to combating global investment fraud, the UK is part of the problem, not the solution”
On 25 February 2014, police arrested 110 people suspected of being involved in boiler rooms. The City of London Police put out a press release announcing that, “A groundbreaking partnership between UK and Spanish law enforcement agencies has led to a total of 110 arrests”. The arrests followed a two-year investigation, code-named “Operation Rico”. Police […]
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Sign the petition to make cold calling illegal in the UK
I’ve been writing about boiler rooms and investment scams for the last four years. I started in May 2012 with a post about a warning from the Financial Services Authority about the dangers of buying carbon credits as investments. I’ve now written more than 150 posts about boiler room operations pushing so-called “investments”. The boiler […]
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Thorn Medical withdraws from listing on London Stock Exchange
In January 2016, Thorn Medical, a healthcare company, announced that it was planning to list “within the next two months” on the London Stock Exchange with a valuation of £350 million. In February 2016, Lord Beaverbrook joined Thorn Medical as Chairman. In October 2016, Thorn Medical wrote to its shareholders to tell them that the […]
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UK to make cold calling about pensions illegal
The UK government is to ban cold calling to sell pension investments. Philip Hammond, the UK chancellor, will announce the ban in his first budget statement tomorrow (23 November). The government will impose fines up to £500,000 for companies caught cold calling. Pension firms will also be given more powers to block suspicious transfers. This […]
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