Billions stolen in organized crime carbon trading believed centered in Denmark
- Blond children used to sell climate fraud in Copenhagen. Denmark is center of billions in climate fraud.
- Organized crime siphons billions in 'climate change' carbon markets due to 'intangible' nature. The market projects to make its next fortune in US carbon trading.
Just a few weeks ago, Europol, the cross-border police force, said that carbon trading fraudsters may have accounted for up to 90pc of all market activity in some European countries, with criminals mainly from Britain, France, Spain, Denmark and Holland pocketing an estimated €5bn (£4.5bn).
- "It is estimated that in some countries, up to 90pc of the whole market volume was caused by fraudulent activities," Europol said....
The London platform, the European Climate Exchange, where banks and energy companies tend to trade, is not affected by the fraud because it does not offer the spot contracts on which VAT was payable.
- But British traders can still defraud authorities by buying and selling permits on other European exchanges.
This organised criminal activity has even "endangered the credibility" of the current carbon trading system, according to Rob Wainwright, the director of Europol....
- But the attraction of carbon permits is their intangible nature, so there is no need physically to ship goods across borders. All is done at the click of a mouse."...
"'Carousel' frauds plague Europeon carbon trading markets," Telegraph UK, 12/30/09, by Rowena Mason
Labels: Organized crime in up to 90 percent of climate change trading deals
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