02084603116

Is this another carbon scam? Company calling themselves Alexander Marx?

Another pain in the neck I have TPS fat lot of good that is!!!
Somebody must stop these calls!!!

Who is Alexander Marx? They keep calling me....

They're selling carbon credits.  Want me to 'invest' £5000.

Keep getting calls, sent a glossy brochure.
Brochure lacks detail, unregulated by FSA.
Avoid!

Latest scam to avoid: carbon credit trading
Uk regulator warns of growing investment risk

06 May 2012


FSA warns about rogue carbon credit investments
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The City watchdog has issued a warning to consumers who may be targeted by disreputable firms selling carbon credits.

The Financial Services Authority (FSA) has expressed concerns about the way some companies are targeting vulnerable people, using high-pressure sales techniques to trade carbon credits.

What is carbon credit trading?
Carbon credit trading is a legitimate business, involving the sale of certificates or permits that would allow a company to emit one tonne of carbon dioxide (CO2) per credit. It is increasingly big business due to pressures companies are under to reduce their carbon footprint.

However, the FSA has discovered a growing trend for people to be contacted by companies selling carbon credits without any invitation from potential investors. Aside from cold-calls, emails and postal promotions, people are also being targeted at seminars and exhibitions.

Carbon credits: 'the next big thing'
Consumers are told about the great potential that investing in this green investment offers, but the risks are often played down. The FSA has published advice on how to proceed when considering carbon credit investments. Top tips include:

Seek independent financial advice before investing in this complex form of trading.
Check whether the company you are looking to invest with has the appropriate authorisation and is based in the UK.
Verified carbon standard (VCS) accreditation is widely accepted and used by more than 600 providers. It ensures that every greenhouse gas emission generated is verified, permanent, unique and traceable.
Note that holding a voluntary emissions reductions (VER) certificate is no indicator of quality, and that it is not recognised by any UK financial compensation scheme. Many projects with VERs are based overseas.
UK firms operating in this sector do not have to be authorised by the FSA, although they opt to be. If you buy carbon credits from a firm that is not FSA authorised, you have no recourse to the Financial Ombudsman Service or the Financial Services Compensation Scheme.
What to do if you suspect a con
The FSA advises anyone who suspects that they have been scammed to stop sending money to the firm or person offering the carbon credit investment opportunity. Consumers can also contact the FSA and provide as much information as possible, including the firm reference number (FRN) if they claim to be authorised by the financial watchdog.

Had calls from this company too for some time after looking through things I decided to get involved at a small level, things are going well as we speak! Although, I have only been involved for the last 9 months, the service they provide is very professional.

Anne (Derby)

I think I will listen to Harry's post more than yours as I don't have money to waste on investments that don't make money.

Only wide boy hard sell salesmen make money from this type of investment by selling you massively over priced credits that they usually buy for £1.50 each.

Maybe that's a reason you might make money Anne possible by being an employee.

Complete Scam, avoid - now operating as Cohen Stones selling over priced poor quality diamonds, avoid them too

Anyone who thinks they have fallen victim to online fraud should report to Action Fraud on www.actionfraud.org.uk or call 0300 123 040.

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June 12 - Carbon Credit fraud

The NFIB is alerting investors to the dangers of purchasing carbon credits from cold-callers.

In the past year the NFIB and Financial Services Authority (FSA) have received a hundreds of reports from people who’ve been promised massive profits by investing in the regulated market used by companies to off-set their carbon emissions.

Fraudsters with the appearance of professional financiers are selling carbon credits that they claim companies will later buy back at much higher prices. Sometimes they say you are legally obliged to buy them or that a business is legally obliged to buy them back in the future.

The reality is victims are handing over their savings for worthless vouchers from an unregulated market, with individual losses running into hundreds of thousands of pounds.

The NFIB needs to inform all investors that:

If you buy carbon credits you WILL NOT make any money no matter what the salesman says
Companies will not offset their carbon allowance by buying carbon credits from individuals – as the salesman claims.
Companies will purchase carbon credits from other companies/brokers and these deals take a lot of time to set up and are heavily regulated – for this reason carbon credits are not investments that an individual can make money on.
There is a heavily regulated market for carbon credits and this is the market that the salesman will be referring to. However individuals do not invest in this regulated market. What the salesman will actually sell you is what is known as a “voluntary” carbon credit where environmentally conscious small businesses and individuals pay to off-set their carbon emissions. This is not a “regulated” carbon credit.
These are bought by the salesman for around 50p and sold to victims for a massively inflated priced dressed up as carbon credits from the “regulated” market.
If the salesman believes that the victim has more money to invest they may even give a return on the initial small investment to build confidence in the victim. They will then request a larger investment promising higher returns. The victim will jump at the chance and then lose all their money.
If you are cold called and offered carbon credits – HANG UP THE PHONE IMMEDIATELY!
Director of the NFIB, Det Supt Dave Clark, said:

“Investors are attracted to carbon credits by the promise of big profits coupled with the legitimacy and security of buying into a regulated market. The reality is if you buy carbon credits you will not make any money, no matter what you are told over the telephone.

“Carbon credits are just the latest line in mass-marketing fraud, placing them alongside shares and land. The sales pitch is slightly different but the objective is always the same – to take for you as much money as possible. Fortunately there is a simple way to stop the fraudsters in their tracks – put the phone down.”  

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Anyone who thinks they have fallen victim to online fraud should report to Action Fraud on www.actionfraud.org.uk or call 0300 123 040.

Cold called by Cohen Stones. Pink diamond scam. Usual nonsense, invest 5K. If i'm going to throw money away i'll blow it on high class [***] and coke instead.

I wish  I'd seen you comments, as I have been scammed,  by this company and could now lose everything I've worked for.

Charles Sewell Director 23 yrs old
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