The convictions follow an investigation by police in the City of London and Hampshire which spanned eight years, followed by a three-month trial that included evidence from us.
Vulnerable victims were targeted during the investment fraud TWO fraudsters have been convicted for conning vulnerable victims out of a £2 million in a ‘boiler room’ fraud operation. Luke Ryan, 33, and Paul Seakens, 60, and were found guilty at the specialist court, Prospero House, Southwark, on Wednesday, on charges of running a business for fraudulent purposes. Seakens was also convicted of money laundering and proceeds of crime charges. Seakens and Ryan were directors of Enviro Associates, a company based in Southgate Street, Winchester, that used high pressure sales tactics to convince vulnerable people to buy Voluntary Emission Reduction (VERs) carbon credits. They used call operatives, making false claims about returns.
Two fraudsters have been convicted today (12 May) for conning vulnerable victims out of £36 million in a ‘boiler room’ fraud operation.
Paul Seakens, 60, and Luke Ryan, 33, were found guilty at the new specialist court, Prospero House, Southwark, on charges of running a business for fraudulent purposes. Seakens was also convicted of money laundering and proceeds of crime charges.
Seakens and Ryan were directors of a company based in Winchester, Enviro Associates, that sold Voluntary Emission Reduction (VERs) carbon credits to mostly vulnerable individuals using call operatives, making false claims about returns.
The VERs sold to clients were essentially worthless, purchased via Seakens’ London based company CNI for very small sums and then sold by the boiler rooms - call centres for con artists - to victims at vastly inflated prices (between 200% - 1,000% mark-up).
Crown Prosecution Service described it as a ‘particularly heinous scam’
A specialist London court has found Paul Seakens (60) and Luke Ryan (22) guilty of running a business for fraudulent purposes.
Seakens was also convicted of money laundering and proceeds of crime charges, according to the Crown Prosecution Service (CPS).
Sentencing will take place on 28 May.
1,000% mark up
The duo were directors of a company based in Winchester called Enviro Associates.
They sold voluntary emission reduction (VER) carbon credits to mostly vulnerable individuals via a boiler room operation.
The VERs were essentially worthless but sold at between 200-1,000% mark ups.
They were purchased via a London-based company owned by Seakens called CNI, for very small sums and then sold on.
Natural Gas News
The future of natural gas in a low-carbon world: GECF and Shell present divergent pathways [Gas in Transition]
May 3, 2021 10:15:am
Summary Shell sees natural gas demand peak in 2034 in its new Sky 1.5 scenario, which is designed to keep temperature increase limited to 1.5 degrees. From that point on, the role of gas will dwindle quickly, to virtually nothing by century’s end. By contrast, the Global Gas Outlook 2050 from the Gas Exporting Countries’ Forum (GECF) sees no peak at all for gas demand up to 2050 and views gas as the great winner of the energy transition. What are the assumptions behind these widely different perspectives? And how should gas companies deal with this kind of uncertainty? [Gas in Transition, Volume 1, Issue 1]