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Ben Jones
Ben Jones, UK Lawyer
Category: Law
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Experience:  Qualified Solicitor - Please start your question with 'For Ben Jones'
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I agreed to sell some of my carbon credits to a company

Customer Question

I agreed to sell some of my carbon credits to a company NOVUS Capital Markets. They charged an up-front fee of £3131-. I did not receive any payment so rang up to ask about it. They say that I can get the payment together with the £3131 deposit if I pay an ESCROW a discharge settlement of £3628 or 20% of the amount due.
So I will have paid over £6000 before I get anything back. Is this normal?
Submitted: 3 months ago.
Category: Law
Expert:  Ben Jones replied 3 months ago.

Hello, my name is***** am a qualified lawyer and I will be assisting you with your question today.

Expert:  Ben Jones replied 3 months ago.

Do they have a website i can take a look at?

Customer: replied 3 months ago.
http://www.novuscapitalmarkets.com/ is the company that sent me a contract. But they insist I pay to a so called ESCROW account. The first payment was to XFGlobal and the second payment is said to be to Imperial Escrow Ltd. The only record, on the web, of Imperial Escrow Ltd related to a fraud; so it sounds like I should not pay anything to them!
Expert:  Ben Jones replied 3 months ago.

This certainly looks like a scam. It is better known as 'boiler room' fraud and usually involves the sale or transfer of shares or similar, such as carbon credits.

The ways in such scams operate are as follows:
• You are contacted, most commonly cold-called, by a company that offers to either sell you new credits or buy existing credits off you. You may even have been the victim of a similar scam in the past and they are offering you a lifeline by telling you they can buy these credits off you and return some of the money you have lost. Often they will be linked to the original fraudsters
• If you are selling your credits the scam would involve a request for a payment in advance. This could be for various reasons, such as commission, security, insurance, taxes, etc. None of these would ever be required in real life and you should not have to pay any such fees in advance of the sale.also they may try and make it look like a ‘safe’ transaction by using an escrow service, although in reality it would be a fake escrow and the money would still go directly to them

The broker is unlikely to be a real and legitimately registered company. They are also commonly working from professionally looking websites, which have been created very recently. This is because they would have only been created for the purpose of the scam and would not last long before being taken down by the authorities.

You can report this by contacting the Financial Conduct Authority on(###) ###-####1000 or by using the Boiler Room Report Form: http://www.fsa.gov.uk/pages/doing/regulated/law/alerts/form.shtml

You may also report this to Action Fraud.

I hope this has answered your query. I would be grateful if you could please take a second to leave a positive rating (3, 4 or 5 stars) as that is an important part of our process and recognises the time I have spent assisting you. If you need me to clarify anything before you go - please get back to me on here and I will assist further as best as I can. Thank you

Expert:  Ben Jones replied 3 months ago.

My full response should be visible on this page. Could you please let me know if it has answered your original question or whether you need me to clarify anything else in relation to this? If your query has been answered I would be grateful if you could please take a second to leave a positive rating, selecting 3, 4 or 5 starts at the top of the page. Thank you

Customer: replied 3 months ago.
I am now being told that there is a solicitor who is involved and will take the funds. How can I tell if the solicitor is reliable?
Expert:  Ben Jones replied 3 months ago.

Do you have any details about him?

Expert:  Ben Jones replied 3 months ago.

Do you have his name or form he works for, or perhaps email?

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