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cosmostein





Joined: 04 Oct 2006
Posts: 7436
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votes: 21
Location: The World

PostPosted: Fri Dec 11, 2009 4:58 pm    Post subject: CBC: European fraudsters steal $7B in carbon credit scam Reply with quote

Quote:
Fraud within Europe's carbon credit trading system has cost taxpayers more than $7 billion in the last 18 months, European police said Friday.

Officials at Europol, the body in charge of co-ordinating police forces inside the European Union, say fraudulent activity on the EU's Emission Trading System was first suspected in late 2008 when police noticed the volume of trades in certain countries would mysteriously spike.

"It is estimated that in some countries, up to 90 per cent of the whole market volume was caused by fraudulent activities," Europol said.

Since late 2008, the total value of fraudulent activity is believed to be in excess of five billion euros ($7.7 billion Cdn) from bogus trades in European unit allowances, or EUAs, the credits that companies in some countries buy to offset their greenhouse gas output.


When you try to social engineer by taking "climate change" and use it to deal with "balancing the wealth of the world" you can't be surprised when this happens.

Source: http://www.cbc.ca/money/story/.....fraud.html
Mac





Joined: 02 Sep 2006
Posts: 5500
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votes: 35
Location: John Baird's riding...

PostPosted: Fri Dec 11, 2009 6:32 pm    Post subject: Reply with quote

A scam built on top of another scam? It's a confidence artist's dream!!

-Mac
cosmostein





Joined: 04 Oct 2006
Posts: 7436
Reputation: 297.4
votes: 21
Location: The World

PostPosted: Mon Dec 14, 2009 3:04 pm    Post subject: Reply with quote

Mac wrote:
A scam built on top of another scam? It's a confidence artist's dream!!

-Mac


Well Said.
kwlafayette





Joined: 03 Sep 2006
Posts: 6155
Reputation: 156.2Reputation: 156.2
votes: 28
Location: Saskatoon Saskatchewan

PostPosted: Tue Dec 15, 2009 1:58 pm    Post subject: Reply with quote

Don't worry, governments everywhere are still more than willing to cover the costs.
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CBC: European fraudsters steal $7B in carbon credit scam

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