Jaswant Narwal, Deputy Head of Fraud at the Crown Prosecution Service (CPS), has announced that following a thorough investigation by Kent Police, the CPS has authorised charges against six men in connection with an alleged carbon credit fraud which cost the public revenue in the region of £11m.
"It is alleged that between 1 January and 31 July 2009, Narinder Chada, Gurmail Dosanjh, Sukhdev Singh and Dhanvinder Basra cheated the public revenue by creating a chain of bogus companies which traded in carbon credits for the purpose of committing a fraud on the VAT system. The defendants are accused of using an MTIC style fraud to give the appearance of legitimate trading, allowing the companies to reclaim VAT paid out on purchases of credits along the fraudulent chain.
Each of the four men is charged with one count of conspiracy to cheat the public revenue, contrary to section 1 of the Criminal Law Act 1977. They, along with Daniel Andrew Barrs and Daniel Barrs, are also charged with money laundering, contrary to section 327 of the Proceeds of Crime Act 2002, contrary to section 1(1) of the Criminal Law Act 1977. All individuals will appear before Westminster Magistrates' Court tomorrow.