$16 millionlost to a boiler room that sold stock, then fake carbon credits, to elderly victims
A boiler room sold stock, and from about 2011 fake carbon credits, to elderly and retired victims in the UK, who lost over $16 million; two men got 52 and 42 months.
Victims who tried to sell found they could not, and the proceeds went through shell companies in Cyprus, Switzerland and the UK.
Source: Internal Revenue Service, Criminal Investigation. Read more: carbon credit fraud · case file