Brits Arrest Suspected Carbon Trade Swindlers. By Arthur Max, AP, August 21, 2009. "Customs agents this week arrested nine people in the London area suspected of a multimillion dollar fraud in trading carbon permits, bringing attention to a rich new field for crime sprung from the fight against climate change. The arrest confirmed fears among law enforcement officers that swindlers -- operating from the trading floors of Europe to the tropical forests of the Pacific -- are being attracted to a market that has grown to more than $100 billion... That carbon market will get a lot bigger if the U.S. Congress passes its own cap-and-trade bill, the central component of President Barack Obama's climate and energy policies. And it will grow bigger still if a new international climate change agreement will include financial incentives for countries to protect their forests. Negotiators from 192 countries hope to conclude a global warming accord at a major U.N. conference in Copenhagen in December. On Wednesday, 130 British customs agents raided 27 properties in and around London for evidence of a 'carousel fraud' believed to have robbed the treasury of 38 million pounds ($63 million) in unpaid value-added tax. Seven men and two women were arrested and released on bail."
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