Carbon traders charged in fraud case

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Carbon traders charged in fraud case

Three Britons and a Dutchman have been charged by Belgian authorities with money laundering in an investigation into fraudulent trading in carbon emissions permits, Belgian prosecutors said on Monday.

The fraud occurs when carbon credits are bought and imported tax-free from other EU countries, then sold to domestic buyers, charging them value-added tax (VAT). The sellers then disappear without paying the tax to governments.

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