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Czech Police Charge Two Men With Carbon Tax Fraud

Oct. 26 (Bloomberg) -- Czech police charged two men over a 378 million-koruna ($19.6 million) value-added tax fraud from trading carbon credits.

The trades took place in 2010, the Prague-based police said in a statement on its website today. Neither of the two Czech trading companies from which the men pretended to buy carbon credits were authorized to trade with emissions allowances, police said. If convicted, they face a sentence of as many as 10 years in prison.

To contact the reporter on this story: Ladka Bauerova in Prague at lbauerova@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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