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Zoey, JD
Zoey, JD, Criminal lawyer
Category: Fraud Examiner
Satisfied Customers: 23999
Experience:  Active member of the NYS bar since 1989
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I have contacted by a company called Enviro Associates Ltd

Customer Question

I have contacted by a company called Enviro Associates Ltd suggesting that they have an exit strategy for voluntary carbon credits.Is this a scam?
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Submitted: 2 years ago.
Category: Fraud Examiner
Expert:  Zoey, JD replied 2 years ago.
Hello,

My name is XXXXX XXXXX I will be assisting you with your question.

We have received a great many inquireis from people in the UK scammed by carbon credit frauds. Carbon trading these days is in heavy disrepute. The whole enterprise is a hotbed of fraud.

The problem is that while there's a movement to bring carbon credit trading under the auspices of the international securities and exchanges commissions, to date that has not yet been accomplished. So carbon credit deals are entirely unregulated.

Some legitimate carbon credit trading firms who see the writing on the wall have registered with your FSA, and that would be a very good sign of their reliablility. But others, It is characteristic of disingenuous companies to lure investors with promises of profits and then to simply fold up and disappear with their money. We have seen it happen here many times.

Another problem is that there are so much carbon trading and so much unreliable out of the country verification that it's difficult to know whether one's credits are worth something or not.

Enviro Associates has a poor reputation on the web. It has been badmouthed many times as being involved in boiler room investment frauds. (see link) There is even an article by the BBC about them calling their integrity into question. (see link)

You might want to look at this article from the UK's Financial Conduct Authority on carbon trading, it's pitfalls and how to evaluate a carbon trading firm. (see link).

Enviro is not a scam in the sense that it is registered with Companies House and has been since 2011. So it actually seems to exist as a business. But they are not registered with your FCA. For that and all of the other above reasons, I do not recommend dealing with this company.
Zoey, JD, Criminal lawyer
Category: Fraud Examiner
Satisfied Customers: 23999
Experience: Active member of the NYS bar since 1989
Zoey, JD and 2 other Fraud Examiner Specialists are ready to help you
Customer: replied 2 years ago.

I have been in contact with this company which says that they have a far-eastern client which want to purchase vers.
They act as agents only and my contract will be with the client. They will not charge me any commission as they are being paid by the client. They are talking about £4-5 a unit.
I cannot find any reference to them in relation to carbon credits on Google.
Can you find any information please?

Alan

Expert:  Zoey, JD replied 2 years ago.
This sounds like the typical follow-up to a boiler room investment fraud. The first time around, they sweet talk you into a time sensitive investement that turns out to be worthless. Then you get contacted again that there is someone else who wants to purchase your units, and you get taken all over again.

If you bite at this deal, you'll be told that your vers are restricted and you will have to pay a fee before you can get them released for sale. Or there will be something else for which you will have to pay out of pocket that seemse to be a sensible requirement. This is the up-front fee.

You were dealing in the first place with an brokerage that is not licensed to trade in your country and which has already ripped off many of your countrymen. Now they are back again but they are still not licensed in your country. They still do not have the authority to do what they say they are going to do for you.

Frankly, you ought to run away as fast as you can before you start tossing more good money after bad.
Customer: replied 2 years ago.


The company I was asking about is William Grant and Co which is supposed to be registered with the FCA

Expert:  Zoey, JD replied 2 years ago.
You are being lied to. There is no such financial firm listed in the FCA register.

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