UK: Seven Held over 'Carbon Credits' Fraud

By Tom Pugh, Press Association — Seven people were arrested in early morning raids today by investigators looking into a £38 million VAT fraud involving the trading of emissions allowances.

A total of 27 properties, both business and residential, were searched in London and the Gravesend area of Kent, and further arrests are likely, HM Revenue and Customs said.

The suspects are believed to be part of an organised crime group operating a network of companies trading large volumes of high-value emissions allowances, often called carbon credits.

via Seven held over ‘carbon credits’ fraud – Crime, UK – The Independent.

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