Carbon credit scam crackdown

19 firms selling carbon credits have been shut down in the past 15 months for ripping off investors, UK regulators said yesterday. The Insolvency Service said more than 1,500 investors had been defrauded out of £24m, and together with the Financial Conduct Authority, warned investors against buying the products. Firms selling the credits, which are used to offset a company’s carbon footprint, mainly target the elderly using high-pressure sales techniques.