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.