Organized Crime in Charge of EU Carbon Trade, Europol Says

First, there was ClimateGate - the scandal with hacked emails suggesting scientists have abused data for research on global warming. Now, another international climate scandal is emerging that may have an impact on the talks in Copenhagen.
Europes top police body Europol, the closest thing that European Union has to the American Fbi, has exposed a massive fraud with the unions official market in carbon credits, the Emission Trading System.
The fraud is costing tax payers in a handful of European countries more than five billion euro - 7 billion dollars - and raises doubts about the effectiveness of carbon trading as a measure to curb emissions.
Europol director Rob Wainwright issued the following statement:
These criminal activities endanger the credibility of the European Union Emission Trading System and lead to the loss of significant tax revenue for governments.
Police authorities in Belgium, Denmark, France, the Netherlands, Spain and the United Kingdom have worked together in what Europol calls a process to identify and disrupt the organised criminal structures behind these fraud schemes.
Lets see if we can explain the scheme, using this graphic provided by Europol.
The fraud is based on a what is tax experts and investigators call as a Carroussel fraud with missing traders. This carroussel generates money by stealing value added tax from governments.
The first step of the criminals is to open a trading account with a national carbon registry, in the name of a newly registered company.
From there, this company buys EU emission allowances in another country on one of the six official carbon exchanges in Europe.
After that, these emission allowances are moved to another country, and subsequently sold to an unregulated broker in yet another country.
This broker then charges VAT on these transactions but does not pay the collected VAT to the tax authorities.
Just before the tax authorities realize that this company owes them huge amounts of VAT, basically a period of a few months, the company and its owners disappear.
A new company is set up, using other front men, to repeat the carroussel. Crime rings that run such schemes can have several dozen or hundreds of companies whose real owners are difficult to trace.
Basically, this type of fraud is possible because European countries continue to disagree on single market tax legislation. Carroussel fraud is a constant feature in the European cross-border market and until recently only happened with shipments of valuable goods such as iPods or flat-panel tvs, not with carbon credits.
Europes tax commissioner, in an interview with EUX.TV, has estimated the damage from these carroussel frauds at more than 60 billion euro per year as Euroean finance minister continue to disagree on effective measures to fight this fraud.
The Emission Trading System system was set up in 2005 as part of Europes efforts to curb emissions of greenhouse gases. That topic now is at the top of the agenda at the UN Climate summit in Copenhagen this week and next. This unprecedented and massive fraud is likely to prove a major embarrasment for EU negotiators.

Report by Raymond Frenken, EUX.TV

Views: 108

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Sandy posted videos
yesterday
Sandy replied to Sandy's discussion Sick sci-fi sex fantasy written by Epstein's first benefactor people say inspired his twisted island... before author's SON ended up arresting him
"Interesting. I always thought he was still alive. Probably given some plastic surgery and a witness…"
yesterday
WIllow is now a member of 12160 Social Network
yesterday
Burbia commented on Less Prone's video
Thumbnail

Sydney Sweeney Has Great Jeans - Outrage AI Parody Song

"Props to Schottenstein on his foray out of the woods that was DEI and wokeness. "
yesterday
Burbia replied to Sandy's discussion Sick sci-fi sex fantasy written by Epstein's first benefactor people say inspired his twisted island... before author's SON ended up arresting him
"One of the theories floating around was Hilary Clinton's brother Hugh, was the one…"
yesterday
Sandy posted a discussion
yesterday
Doc Vega posted blog posts
Wednesday
Less Prone favorited Sandy's video
Wednesday
Less Prone favorited tjdavis's video
Wednesday
Less Prone posted a video

Sydney Sweeney Has Great Jeans - Outrage AI Parody Song

AI Parody Music Video poking fun at the online hysteria surrounding Sydney Sweeney's American Eagle jeans campaign.✅ Blue jeans✅ Blonde panic✅ DEI gone wild✅...
Wednesday
tjdavis posted a video

How "Free" P*rn Sites Really Work (and Who Runs Them)

Excerpt from This Past Weekend w/ Theo Von #559 Laila MickelwaitFull Episode: https://youtu.be/9J7187j4PO4?si=2GUNymssKJpe6nEvFind Theo Von:Website: https://...
Wednesday
tjdavis posted a blog post
Wednesday
Doc Vega posted blog posts
Tuesday
Doc Vega commented on Ragnarok's video
Thumbnail

Charles Manson Talks About The Global Elite

"I've had my account with YouTube terminated before over bullshit excuses because they…"
Tuesday
Doc Vega commented on Ragnarok's video
Thumbnail

Charles Manson Talks About The Global Elite

"Remember, though he makes his points, this man used the Beatles White Album as his own manifesto of…"
Tuesday
Sandy posted videos
Monday
Sandy posted a photo
Monday
Sandy commented on Sandy's video
Sunday
Sandy posted a video
Sunday
cheeki kea posted a photo
Jul 30

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted