Q&A

Answer a question


Do you want to follow this topic? You need to be signed in for this feature
Do you want to save this article to read later? You need to be signed in for this feature


Is MH Carbon a legitimate carbon trader or are they part of a ponsi scheme

26
Answers


Do you want to answer this question? You need to be signed in for this feature

Answers




Most people, including the FSA are warning private individuals not to participate in Carbon Trading. It is a highly technical area so that companies can offset carbon usage. That is even if the trading is legitimate. The golden rule is 'If they approached you then you should not touch them', whatever the investment. Mike



Mike that's a bit of a silly response about the "golden rule", the FSA has clear guidelines on Financial promotions and a firm is able to promote its investments through financial promotions whether they be electronic or in the form of a sales booklet. How else would investments be promoted to potential clients? Just waiting for someone to approach a firm to ask about their services is a silly response to make, how else would you learn about various investment vehicles available today? The "golden rule" is not as suggested above but it is "if it sounds to be good etc etc.." By all means listen or respond to any financial promotion but tread carefully..



Mike is spot on. Anyone who phones out of the blue to try to sell carbon credits is selling a scam. No exceptions. Period. Once carbon credits start being recognised as a scam, they may go back to land banking, funny types of wood, or wine, or think up someone new. NO reputable investment dealer cold calls. EVER



Joe, Mike is not correct, at no point does the original post state that it was cold calling, he was simply asking a question about a particular firm, the answer mike gave was incorrect with regards to the "golden rule" i was explaining that financial promotion regulations exist to allow firms to approach customers with their investment model, at no point was cold calling mentioned, we are all aware of the cold calling laws. "Approached" does not necessarily mean cold called!!



When I said "If they approached you....", I was, of course, referring to cold calling, or rather cold contacts of any sort. The word IF was most important. If it was from an intermediary with whom you already had a relationship then that is a very different matter. I also stick to my first paragraph. Mike



And the usual trick for these scum is to start their COLD CALL by referring to the conversation they had with you "sometime last year". Amazing that one can never remember these non existent call. Beware any apologist for these guys.



Interesting stuff. I've done a couple of Carbon Credit investments - both made good returns along with my original investment. On my 3rd now - with a different organisation - will keep you posted if I remember.



As a professional working in the carbon industry I can safely advise every member of the public NOT to buy carbon credits. They were not devised for you and they do not work for you. By all means become shareholders in a reputable project that generates carbon credits (note the use of the word 'reputable' - those marketed by groups with the initials CA and CCC must be avoided at all costs - outright scams )!! Being a shareholder in a project means that the other project participants are motivated to sell the credits on behalf of the project i.e for you as well as themselves. That is a big bonus. The only buyers of VERs are corporates and they aren't interested in dealing with Joe Bloggs and his £20k's worth of credits. They buy from large-scale project developers. Don't be fooled by companies selling you "the CER story" i.e that the polluters have to buy CERs so you will have no problem selling your credits. Sure they have to buy, but they won't buy from you. The City is full of traders fighting over the Gazprom account or the Shell account. These traders have access to their own CERs. They don't want yours at the grossly inflated prices that you paid. Let's look at one basic and universal fact of life. MHCarbon or any other company selling carbon credits is not going to sell to you at £5 per credit if they know that they can sell them on in 6 months at £10 per credit. Come on - would you do that ? In my opinion kingm12345 is either employed by one of the carbon firms or has just benefitted from one of the methods described below. There are only a few ways that carbon companies (or carbon cowboys as they are known) can take money in one month and pay out a high return a few months later. Those ways are Ponzi scheme, money-laundering, drug deals or short-term loan sharking. Which one is your carbon company using ? Here is an analogy that is often used in the industry. When you are buying wine it is generally true to say that buyers will pay a higher price for older vintages than they will for the newer wines. When you are buying bread it is generally true to say that the fresher the bread the higher the price. It is the complete opposite to wine. Carbon credits are the same as bread and nothing like wine. Carbon credits MUST be the newest and freshest credits to generate any interest from corporate buyers (we aren't talking about members of the public here because you must not buy carbon credits. It is like taking candy from a baby for these salespeople). Also, any credits from the Far East, India or China - forget it. And, for the record, I can buy VERs and CERs in the market for less than £1 each. Yes, even the CERs. If I can do it then so can these carbon firms. That explains why so many of them have proliferated recently. If kingm12345 is genuine then he will have overpaid by perhaps 500% and they are setting him up for one nice big juicy investment and then silence. They will have gone and your money will be paying for their retirement a long way from here. I'd be interested to know which company kingm12345 bought his credits from. I'm surprised he didn't inform everybody as it was such a good investment......



I have invested money with MH Carbon and I am now experiencing the non returned phonecalls and unanswered emails. I am just waiting for the summer holidays to finish, ie. giving them the benefit of the doubt, before sounding the alarm bells.



Answer to theciscokid, I have bought carbon credits from MH Carbon too. I am experiencing just exactly the same problem as you. When it comes to selling carbon credits they wrap themselves in silence. I called five times and sent them an email the past three weeks that I wanted to sell my carbon credits. I was told that one of the brokers would call back. I am still waiting for an answer.



To theciscokid you will not receive and phone calls from mh carbon or emails as they have gone into liquidation as my husband was working for them and he came into work this week, and he and everyone else was told to leave the office this was on Wednesday 17 October 2012.... Sorry



Gary Hooper of MH Carbon is still trying to sell carbon credits today. What he is offering and promising is indeed too good to be true.



To theciscokid you will not receive and phone calls from mh carbon or emails as they have gone into liquidation as my husband was working for them and he came into work this week, and he and everyone else was told to leave the office this was on Wednesday 17 October 2012.... Sorry Is this the same company?? http://www.mhcarbon.com/ I rang them and the lady said to me that they were open for business, I used a false name, and was very surprised that they had me on file and that my broker was "Ollie"....anyone else rung them?



I suspect MH Carbon are like so many brokers in this market. They promise exit strategies that turn out to be hot air and then disappear once they have made the sale. My broker has done the same. For those with investments through MH Carbon, are Carbonex your account holder/wholesaler?



Indeed, Carbonex, based in Luxembourg is the wholesaler and I am holding an account as well. I spoke a couple times with them. I tried to sell my carbon credits through Carbon-ex instead of MH Carbon, unfortunatley Carbon-ex is not responsible for selling credits of their partners. I have to apply directly to MH Carbon. I was told to hold my credits between 12-18 month when I have bought them. Almost two years are approaching and no signs of any returns. It seems to be that it was a mistake to get in carbon credits involved.



Be aware! If anyone get approached from Clark Carbon Capital based in Switzerland to sell you carbon credits, do not get involved. Just hang up! It is a scam!



Hi guys. I see MH - Carbon mentioned here, note it is a hyphenated name so maybe different to another MH Carbon? Registered address is 3rd Floor Peek House, 20 Eastcheap, london EC3M 1EB. Adam Capaldi has disappeared and I have had calls from a couple of different people there. 'SCAMMED' maybe your husband knew of him. Any info would be appreciated as I cannot find evidence of anyone actually having lost money yet? Nor vice versa except from their word of mouth. With repect I see a lot of advice here but no evidence.



Answer to tencc. I agree with you. I would like to hear that someone actually made money. Who will tell us? On their website there is a part with testimonials with satisfied clients. You can put on website everything you like. I have spent a few thousand Pounds on carbon credits with them. So far I haven´t lost anything but there is no indication that I will see any profit. The plan was keep holding on for 12-18 month. Two years have gone. Now I was told to the keep them another 4-6 month. Since the time I am with MH Carbon I have gone through five or six different brokers. (none of them was able to sell my carbon credits) although back in August I was told that they were in a profit. All I can say I am pinning all my hope on MH Carbon, they are our great hope.



Enter Thanks for your post warning us about Clark Capital. I have recently been approached by them as they found out that I'm holding some VERs. They've not offered to sell me anything yet, though my guess they'll soon come back to say 'we'll help you get rid of your current ones if you purchase xxx from us'. They do have a manner and pitch that's set my scam alerts going, but I have no evidence. Could you please share why it is that you say they are a scam? Thanks!



Hi to Carbonpro - just read this thread since August. In answer to your question I got paid out twice on two carbon credit deals from Emerald Knight - made 30% on both occasions. I've since had a punt on MH Carbon - and have been completely underwhelmed. Think I'd underline all the above comments. They are quick to be on your case if they sniff money - but when you want to sell your 'units' you can go whistle dixie. I see Gary Hoopers name was mentioned above. MH Carbon told me that he had to leave as he had a 'bad hip'. That true !?



I'm pretty sure MH Carbon is a scam, can't believe how I fell for it, bought £12G worth of credits in two different outfits 18 month ago. Usual promises, safe markets, good growth, easy liquidation etc. Wanted to liquidate but "Broker" stopped returning calls, phoned last week, he's left, new guy says hang in there, in 3-4 months we'll all be as rich as Croesas. Maybe, but I'm not optimistic. I've lodged a complaint with FSA, again without much optimism. Better off at Joe Corals, the odds are better.



I am still in contact with MH Carbon so all is not lost. While I was researching this company I contacted its publicity agent who also carried out work for some very well known companies and the Guy there said that MH was doing its utmost to be up front and completely open. I also contacted another company that was an FSA regulated Carbon Trader and the Guy there said that MH was one of their clearing houses and to his knowledge had not gone into liquidation. MH Carbon has been around for some time now and from the information I have, I am not so sure that it is a scam company, but I could be wrong, only time will tell.



Sorry to hear that people are losing. Unfortunately I think if you paid more than $0.50 or so for your credit, you will lose, even if you can reclaim them. I just set up a website to pool together information on carbon credit scams across the internet. The more people know about these scams the better. Feel free to visit comment, and learn more: http://carbontradescam.wordpress.com/



Sorry to hear that people are losing. Unfortunately I think if you paid more than $0.50 or so for your credits, you will lose, even if you can reclaim them. I just set up a website to pool together information on carbon credit scams across the internet. The more people know about these scams the better. Feel free to visit comment, and learn more: http://carbontradescam.wordpress.com/



I also bought into HM Carbon credits - last week I had a call on friday night 7 pm saying that I needed to buy a different type of carbon credit otherwise my present credits would be unsaleable. It all sounded very real and logical and fear and greed got the better of me and I agreed to buy an additional £9000 pounds worth - having had the weekend to think it over and having searched the inetrnet to find this new rules being set out by Goverment - I started to see tweets about HM Carbon credits and realised that this was no more than a boilershop operation with gross misrepresentation on profits reasale and guarantees



MH Carbon went into voluntary liquidation last week: http://bit.ly/11xKcc3