Massive carbon fraud cost Germany €850 million

“Fictitious trades, fictitious companies, bogus addresses”

The Süddeutschen Zeitung reports that German fraud investigators have found that €850 million fell off the table when shady companies swarmed into the carbon trading, emissions and energy business.  The criminal companies rake in tens to hundreds of millions, fend off regulators with delaying tactics and then announce bankruptcy or disappear.

Düsseldorf tax investigators found that in less than a quarter of an hour emissions certificates might change hands five times.  The same CO2 allowance would trade up to 18 times. A perverse form of recycling as the Süddeutschen Zeitung makes clear.

Fraud's new mascot

Elements of the investigation were code named “Odin,” “Tango,” and “Polar Bear.”  How appropriate that the cute, but vicious bear of the northern waste should become a code word for fraud after having long been the favorite propaganda image of warming pressure groups.

Carbon trading, global warming policies and alternative energy schemes have become favorite tools of organized crime.   CFACT’s Einar Du Rietz has written on mafia influence in wind farming.  Maybe the Wind Fellas Blew Them.  CFACT Europe has also reported on Italian carbon millionaire Oreste Vigorito’s fraud arrest.  While the criminal exploitation of global warming has cost billions, it is small change compared to the hundreds of billions being looted legally with the full cooperation and encouragement of governments and the UN.  How much more waste, fraud and abuse will free peoples tolerate before they shout, “ENOUGH!?”

MORE (Auf Deutsch) at Süddeutschen Zeitung

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About the Author: Michael Goetz