Search

Romford man who ran carbon credits scam disqualified from running any business for 15 years

PUBLISHED: 12:00 11 October 2018

File photo dated 10/04/15 of air pollution over London. Picture: Nick Ansell/PA

File photo dated 10/04/15 of air pollution over London. Picture: Nick Ansell/PA

PA Wire/PA Images

A Romford man who ran a carbon credits investment scam has been banned from directing any companies in the UK for the maximum 15 years.

The Insolvency Service’s disqualification order on 48-year-old Harvey Edwin Bennett came into effect on October 8. His last known address is Cross Road, Romford.

From June 5 2013 to December 4 2014, Mr Bennett was director of Evolution Trade Services, which was involved in selling Certified Emission Reduction (CERs) carbon credits, which are government permits allowing an individual or business to release pollutants into the atmosphere.

These were pitched to customers as an investment opportunity, on the basis that the CERs would increase in value and could be sold for a profit in the future.

This was not possible, and in fact the rate at which the company was selling carbon credits to its customers involved a mark up of 132pc.

Credits the company bought for an average cost of £1.06 were sold on to investors at £2.46.

The Insolvency Service also found Mr Bennett accepted £51,000 from a customer in respect to Santo Montana LLP which was involved in a gold mine investment scheme which failed to have any underlying investment asset or any prospect of success.

Santo Montana LLP was put into compulsory liquidation on August 17 2016 with losses to the public of at least £388,000.

All those involved in the venture who were interviewed by Insolvency Service investigators were unable to prove any goldmine or other asset ever existed.

Latest Romford News Stories

8 minutes ago

A family from Collier Row is raising funds for a meningitis charity with their special Christmas lights display.

07:00

A market trader didn’t torch a £260,000 Ferrari because he had a broken ankle ‘after falling off his van replacing an aerial’, a court has heard.

10:40

St Edward’s Academy in Romford celebrated the hard work and dedication of its support staff by hosting a Stars in our Schools event.

Yesterday, 15:00

Audiences are invited to rediscover the true meaning of Christmas at Brookside Theatre’s festive musical, A Christmas Carol.

Yesterday, 12:00

A Gidea Park shop owner has been told by the council he has to apply for planning permission for a mural outside his shop or he could be fined £2,500.

Yesterday, 10:00

The further delay of Crossrail forced members of staff who were waiting for jobs at Romford station to resign.

Yesterday, 07:20

A Newbury Park man alleged to have torched a £260,000 Ferrari outside a house in Emerson Park was taking revenge for a property deal that went wrong, a court has heard.

Tue, 17:00

Rainham and Dagenham MP Jon Cruddas has called for the prime minister to “move over and allow Labour to secure a deal that works for working people” after she called off a Parliamentary vote on her Brexit withdrawal agreement.

PROMOTED CONTENT

From November, The Mercury in Romford begins to celebrate Christmas. The mall has plenty of gift ideas, fun events and activities for everyone

Vauxhall has completed its sport utility vehicle range with the third, and largest, Grandland X. We put the SUV, now available at Tony LeVoi in Romford, to the test.

“The time to repair the roof is when the sun is shining,” so the saying goes. So if some warm weather is making your conservatory uninhabitable, think about replacing its roof with a flat one and adding a roof lantern instead.

Newsletter Sign Up

Romford Recorder twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Most read news

Hot Jobs

Show Job Lists

Education Promo

News from your area

Digital Edition

cover

Enjoy the
Romford Recorder
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now