A company that sold the public investments in carbon credit and diamond schemes has been forced into liquidation in the High Court.
Mulberry Wynford claimed to have a global presence with offices in the City, New York, Hong Kong and Dubai. In reality the company had a serviced office in the City with limited mail forwarding services.
The company claimed via its website to offer “diamond and climate reserve tonnes opportunities”.
Three investors testified they had been sold carbon credit investments by the company, despite the directors’ claims they had not sold carbon credits to the public. One investor gave evidence in person, while one investor in Ireland and one investor in South Africa testified via video link.
The company had terms and conditions which stated investors who wanted to dispose of their investment had to do so in writing, despite the company not being able to receive post.
The case came to court following investigation by the Insolvency Service. Losses are as yet undetermined and the Official Receiver is looking to hear from anyone contacted by Mulberry Wynford.