Carbon Trading Fraud
Tax Investigations (HMRC)
Carbon Credits are sold to big businesses to help them cut down on the amount of carbon dioxide they use. If you are facing an allegation or prosecution for carbon trading fraud you could be faced with a severe sentence. It is in your best interests to get in touch with a solicitor at your earliest convenience and we will deal with your case, defending your position from the beginning of any investigation or prosecution. Our team are available to represent you anywhere within the country.
Free Initial Telephone Consultation
Our highly skilled Fraud team are here to take the worry off your hands. We can provide an initial telephone consultation to see how we can assist in your case.
What is carbon credit fraud?
A carbon credit is a general term for any tradable certificate or permit which allows a respective company to emit one tonne of carbon dioxide or any other equivalent greenhouse gas. One carbon credit is therefore the equivalent to one tonne of carbon dioxide. With this being the case, companies are able to sell carbon credits to other companies who are conscious about how much green house gas they emit. Although the point of carbon credits is to create a safer, greener environment to make organisations conscious of their carbon footprint, there are people who will take advantage of the system for their own financial gain.
Carbon trading fraud is therefore a broad area of law and can involve illegal activity surrounding the following:
EU Tax Fraud – Some organisations have been known to take advantage to the European VAT system. As credits are not physical objects they can be transacted between businesses with ease which has can lead to an MTIC fraud.
Document Fraud – Credit fraud can also be committed through the certification of documents.
Stolen and Bogus Credits – Carbon credits have a lack of central regulation and standardisation. Credits are valued differently among respective organisations which make it difficult to trace where the carbon credit originally came from. The result of this has been for people to be investigated despite them not having the knowledge that the credits were false.
Is there a defence?
Although the law surrounding fraud is very complicated, in order to be found guilty you must have demonstrated that you:
- Consciously acted in a dishonest manner
- The items that you are dealing with must be known to be false
- You have consciously acted fraudulently where your gain results in somebody else’s loss
This is a very complex area of the law and the consequences of being found guilty can be severe. To discuss your case and circumstances please contact us today.
How we can help
We acknowledge that everyone is innocent until proven guilty and therefore are entitled to a fair trial to argue their case in court. If you have been accused of carbon credit fraud, our Fraud Solicitors are available to argue your case and advise you throughout the entire process of the trial. We therefore promise to:
- Represent you in court
- Advise you throughout the entire process
- Take the worry off your hands
- Argue your case
- Prepare an appeal if necessary
Given the broad area of law surrounding carbon credit fraud, we will ensure to deal with your case by finding all of the facts and circumstances.
Our team are highly ranked in the Legal 500 and Chambers and Partners guides. We have extensive experience in successfully defending business accused of fraud.