LONDON – British prosecutors say six men have been charged over a massive pollution credit fraud scheme that cost the British government many millions of pounds.
The Crown Prosecution Service says that four of the men created a string of dummy companies that traded in carbon credits, typically certificates which give polluters the right to emit a set amount of carbon dioxide in return for money paid to companies that fight climate change by taking steps such as planting trees or switching to renewable energy sources.
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Prosecutors said Tuesday the four men improperly claimed refunds for taxes never paid on the credits, racking up 11 million pounds (nearly USD$18 million) during a seven-month period in 2009. The other two men are charged with money laundering.
None of them have entered pleas.
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