View more on these topics

High Court shuts down two firms over £1.8m carbon credit scam

Two carbon credit companies have been shut down after taking £1.8m from UK investors.

Pinecom Services Limited and Pine Commodities have been ordered into liquidation by the High Court on grounds of public interest following an investigation by the Insolvency Service.

The firms cold called consumers and used false and misleading statements to persuade them to buy carbon credits.

The Insolvency Service says both companies were found to have continued a business previously shut down in the public interest over carbon credit sales.

The earlier companies forced to close were called Tullet Brown Limited, Foxstone Carr Limited and Carvier Limited.

Insolvency Service company investigations supervisor Chris Mayhew says: “Contrary to the companies’ claims, their services were designed to rip-off investors. 

“Nobody should be left in any doubt that the Insolvency Service will continue to take robust action whenever serious failings are discovered and in particular against contemptible companies as here preying on vulnerable investors”.

A spokesman for the Insolvency Service says it is too early to say how many investors have been affected by the scam.


Google Glass

Gadget of the fortnight: Google Glass

My gadget of the fortnight has to be Google Glass, the search giant’s voice-operated, spectacle-style mini-computer. The Explorer program for beta users was extended to the UK two weeks ago, having been available in the US for over a year. I have been using Glass since the beginning of May and found the experience really […]

Tim Loughton MP

Former Conservative minister calls for regional stamp duty

A former Conservative minister has called on the party to include proposals for regional stamp duty thresholds in its election manifesto. Currently, stamp duty is levied on all properties worth more than £125,000 at a rate dependent on their value. Speaking to Money Marketing, former Children’s minister Tim Loughton says higher house prices in London […]


MAS raises alarm over unregulated firms claiming to represent Government body

The Money Advice Service has issued a fresh warning over unregulated firms contacting consumers claiming to be representative of the Government or MAS itself. Last week, the MAS revised details on its site to warn consumers of “fraudsters saying they are from the MAS”. It says the Budget has sparked an increase in cold-calling from unregulated […]


HMRC apologises over £1.9bn tax mistake

HM Revenue & Customs chief executive Lin Homer has apologised for calculation errors which meant HMRC overstated how much it recouped in owed tax. Last week, a report from the National Audit Office revealed HMRC had overestimated the amount of tax it had collected by £1.9bn a year. HMRC had agreed with the Treasury to […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Gordon Sinclair 11th July 2014 at 8:01 pm

    Whilst its good that the Insolvency Service is doing something I think it would be far more beneficial if the police dealt with these rogues!

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm