The directors of Cleartrade Limited have been disqualified for a total of 43 years. Cleartrade Limited sold voluntary emission reduction carbon credits (VERs).
Members of the public and other entities buy these VERs as a way of ‘paying back’ for the carbon emissions they cause in their daily life. The money from them is supposed to fund projects which attempt to eliminate or at least reduce the amount of emissions elsewhere.
Investigators found that Cleartrade Limited charged highly inflated prices for the VERs with no prospect of a return on the investments. Cleartrade Limited netted over £1m in the scam!
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