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Message Subject Attorney General said Australian Whaling activists would face consequences for their actions
Poster Handle xen
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[link to news.ninemsn.com.au]

France convicts five on carbon tax fraud

A French court has convicted five people of a massive fraud of the EU's carbon trading system, sentencing them to up to five years in prison and ordering them to pay millions of euros in damages.

The case was the first of many such trials expected in France after the discovery of a series of fraudulent carbon-trading schemes that cost the French state up to 1.8 billion euros.

The scheme saw the group take advantage of the European Union's carbon trading system, launched in 2005 in a bid to reduce greenhouse gas emissions by allowing companies that emit less than their allowance to sell the difference to other companies.

imagine the field day investment banks and consortiums will have with the new carbon tax in australia...
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