U.K. CO2-Fraud Trial Set for Next Year, Carbon Finance Says

The trial of seven people charged with defrauding the U.K. government of 38 million pounds ($61 million) of value-added tax via the greenhouse gas markets may take place starting in February next year, the Carbon Finance website reported.

The case relates to “allegations of value-added-tax fraud rising out of the trade in carbon credits and associated money laundering of the proceeds of that fraud,” James Waddington, one of the prosecution barristers from Britain’s Crown Prosecution Service, said today at a hearing at Southwark Crown Court in London today.

Five men and two women were charged, the website said. Another court may be able to hear the case earlier, and the alleged fraudsters may enter pleas in June, it said, citing Judge Michael Gledhill.