Baseball Media Watch: SEVEN ARRESTED IN CARBON CREDITS SCAM-Fear Organized Crime

MLB promotes 'carbon credits', a business which is proven to easily lend itself to crime. The world's biggest bullies back it (Goldman Sachs, Soros, etc.) so most either join in the scam to fleece taxpayers or keep silent out of fear.

Most US media aggressively promote this global joke. Do not expect them to be the 'watchdog' they claim to be.

When Goldman Sachs, Soros et al. are involved, most media support the heck out of them.

Following is but one story of the lavish lifestyle available in carbon trading scams:

(UKMail Online): "They are meant to be the key to unlocking a greener future. But yesterday it was claimed that carbon credits are being traded as part of a VAT fraud scheme.

HM Revenue & Customs said it has arrested seven people in connection with a £38million suspected fraud involving emissions allowances.

These are effectively 'permits to pollute' granted as part of a

European Union scheme to create a market in greenhouse gasses.

Carbon credits are issued to firms that emit carbon dioxide, such as big electricity firms, and can be bought and sold.

The idea is that over time fewer carbon credits will be issued to companies, forcing them to pare back their greenhouse gas emissions.

But now, tax authorities fear organised crime may be muscling in on the act. Officers yesterday made arrests in the Gravesend and Greater London areas and searched 27 properties.

HMRC said: 'Further arrests are likely and the investigation continues.'

The fraudulent companies are alleged to have purchased carbon credits from overseas VAT-free sources and then sold them on to businesses in Britain at a VAT-inclusive price. But the VAT charged is never paid over to HMRC.

This is part of a phenomenon called 'missing trader fraud' that has afflicted the trade in electronic goods for several years.

Abuse of the VAT system is so rampant that
it has skewed Britain's official balance of trade figures.

HMRC claimed yesterday the proceeds of the latest scheme were used

to finance 'lavish lifestyles and the purchase of prestige vehicles'.

Les Beaumont, deputy director-of Criminal Investigation for HMRC, said: 'We always aim to recover the proceeds of crime, restoring that money to the public purse where it belongs. That is our intention in this, and all similar cases.

'The government took decisive action to prevent this type of fraud recurring by zero rating carbon credits for VAT.'

Officers employed UK Border Agency and police sniffer dogs to search the properties for cash, HMRC said in its statement. All those arrested have been taken to police stations in the region for questioning by investigators."