Carbon traders charged in fraud case

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Reuters
January 12, 2010

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.

[efoods]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.

The three Britons were arrested at the end of 2009 in the Belgian town of Tournai as part of an investigation into transactions worth some 3 million euros ($NZ5.8 million).

A fourth suspect from the Netherlands was arrested on Sunday. Prosecutors would not disclose the names of those arrested.

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This article was posted: Tuesday, January 12, 2010 at 2:38 pm







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