Well as said I have sold through their exchange and it is good to be skeptical but have not heard any negative feedback to date apart from comments from pboyles. Did you have a bad experience with them yourself pboyles? I must admit I have been suckered by a few carbon brokers and be promised to purchase more credits to be able to sell for an apparent commercial offset deal that has never aspired but I must of been lucky to have sold this time. Was a small profit and I have recommended them now to others and am slightly worried by your comments as I can only go by own experience and was unaware of any miss guidance. Are you informing me they are not a genuine company? If this is the case why was I sold out in an offset deal? Are they planning something further?
Is this a genuine company or a scam?
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So they gave you your money back plus a small profit. Now you've recommended others to give them money and you've promoted them here. How much will they take based on your recommendation? Probably a lot more than what it cost them for your 'profit'. I think you may just have been taken for a ride.
But your own experience is of being ripped off by carbon credit 'brokers', why would this one be different?
An elaborate scam is certainly possible, but you have to look at the balance of evidence.
Firstly is fonze a stooge? On balance I think unlikely as he did not volunteer the details of the exchange until I specifically asked - in other words he hasn't been 'pushing' the company. I too was suckered into buying some credits on the basis of exits that turned out to bogus so have been very sceptical. I have said no to the many brokers who want me to buy more credits on the basis of their pipeline of exits.
Secondly, have they 'given' Fonze a profit on the basis of suckering people in from his recommendations. Possible, but unlikely.
Thirdly, before paying my registration fee they told me that they had a company who had agreed to buy a portion of my credits. Did this make me sceptical? Yes very! So I contacted the engineering company (they actually gave me the name) and said I was doing reserch into carbon footprint and offsetting and had they considered this. They told me yes and that they did indeed buy VERs to offset.
A further elaborate set-up? Again possible.
But on the balance of evidence I have gone ahead.
We know that many people have been truly scammed in this market, by either buying credits that have not been fully verified, or massively over-paying. Yes I was naive when I entered the market, but it doesn't mean that I don't try and do something about it.
Firstly is fonze a stooge? On balance I think unlikely as he did not volunteer the details of the exchange until I specifically asked - in other words he hasn't been 'pushing' the company. I too was suckered into buying some credits on the basis of exits that turned out to bogus so have been very sceptical. I have said no to the many brokers who want me to buy more credits on the basis of their pipeline of exits.
Secondly, have they 'given' Fonze a profit on the basis of suckering people in from his recommendations. Possible, but unlikely.
Thirdly, before paying my registration fee they told me that they had a company who had agreed to buy a portion of my credits. Did this make me sceptical? Yes very! So I contacted the engineering company (they actually gave me the name) and said I was doing reserch into carbon footprint and offsetting and had they considered this. They told me yes and that they did indeed buy VERs to offset.
A further elaborate set-up? Again possible.
But on the balance of evidence I have gone ahead.
We know that many people have been truly scammed in this market, by either buying credits that have not been fully verified, or massively over-paying. Yes I was naive when I entered the market, but it doesn't mean that I don't try and do something about it.
So you are trying to recoup your losses by doing the same thing again?
Read this from start to finish
http://www.trade2win.com/boards/first-steps/97532-spiriton-media-group.html
Not carbon credits but the same scenario, people desperately believing what they want to believe in the face of all the evidence that they had been scammed. They 'invested' again and again hoping to recover their losses, some of them remortgaged their houses, borrowed money from their family and generally bankrupted themselves, all because they had been promised easy riches for no zero effort.
The company in question was a registered UK limited company, the people behind it were real, it was listed on the Frankfurt stock exchange, they even turned up at a shareholders meeting with a piece of hardware to show. At the end of the day it was all for show, the boiler rooms in Asia took millions and the company was liquidated. Of course that was plain to see from day one, except nobody wanted to look. Just like nobody really wants to look into this nonsense either, until of course the money is gone, then it will all be someones else's fault for allowing it to happen.
http://www.trade2win.com/boards/first-steps/97532-spiriton-media-group.html
Not carbon credits but the same scenario, people desperately believing what they want to believe in the face of all the evidence that they had been scammed. They 'invested' again and again hoping to recover their losses, some of them remortgaged their houses, borrowed money from their family and generally bankrupted themselves, all because they had been promised easy riches for no zero effort.
The company in question was a registered UK limited company, the people behind it were real, it was listed on the Frankfurt stock exchange, they even turned up at a shareholders meeting with a piece of hardware to show. At the end of the day it was all for show, the boiler rooms in Asia took millions and the company was liquidated. Of course that was plain to see from day one, except nobody wanted to look. Just like nobody really wants to look into this nonsense either, until of course the money is gone, then it will all be someones else's fault for allowing it to happen.
I only went on here as I saw a comment regarding can you sell VER and as I have, I mentioned I did. I live in Bournemouth and traveled to the office as I am very skeptical but the office was real and the people was real. I have trained and worked as a stockbroker for almost 5 years and know the market is genuine but is based on businesses to offset. My credits was sold to a company for an offset and I made money. There are a lot of companies out there and I have been almost scammed by a fair few but all of them was offering to sell me more credits. This company only sells to businesses so I did not receive any pressurized sales tactics. I can understand you have obviously been scammed before but you can only judge a company from experience and I was satisfied. Realistically a trading platform for the market is needed and is a great idea and it isn't the first platform. I even looked into net builder and they developed trading software for Barclays so no doubt they no what they are doing.
Do you realise how ridiculous this statement is?
If your gonna get personal, me ridiculous, I have profited with a trading exchange and you inform me that the company is a scam???? I profited and visited the office and made a profit?? I mentioned I only made a statement on here as I saw a forum about carbon credits and gave my own experiences. I made money from it why is there still an issue. Unless of course you have had personal dealings with the company and they have ripped you off I think it is unfair to make a judgement. As said I have been almost scammed but numerous companies that I could list on here and finally found one that actually made me a profit.
Strange how you keep mentioning that you visited the office after I pointed out that you can buy a virtual office at that address and their opening hours are rather odd for Hampshire.
Presumably someone local could drop in there and ask to see Paul Mark (rather than Paul Mark Green). Any volunteers on T2W?
I dont understand what your issue is, I just mentioned I sold my credits and when asked where I said? As I said if you have had a bad experience with this company then you are entitled to your opinion and as I said I must of been lucky to of made a profit. If you was ripped of by them try contacting them regarding your issue. What did they do in your situation, how did they scam you? What is it you do for a living pboyles? are you a day trader? do you even have carbon credits? I do not trade on a regular basis was only investing to make money for my kids at a later date as was advised to hold onto these credits but because of all the negativity I have attempted to sell early numerous times and have not managed it numerous times. Now I have managed it , I was surprised it could be done with all the let down brokers I have dealt with and now that is has and the company in question have unfortunately let you down I still came out on top. Maybe the advise would be approach with caution. I saw a comment by someone else stating they did research on the company regarding an offset and evidence was looking positive. Maybe in this situation you was just unlucky with your dealing with them. How long have you held your carbon credits?
I thought you said you were a stock broker, now you say you 'was advised' to hold onto them. Something doesn't add up here and your posts resemble some sort of boiler room chav ramble rather than a qualified stock broker, if there even is such a thing now.
neil
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You could be right PB. Scammers and their acolytes must learn to be consistent in their lying otherwise an alert person would quickly point it out. Hope some one pops into the Hampshire office.
You say likely. I and I suspect others here say highly LIKELY.
Many of these firms give their naive clients a load of bull, get them to invest, give them a portion of their investment back as 'profit' then rinse/repeat a few times (note, THEIR investment).
Then hit them for bigger 'investments' over time. When that happens I somehow think something will go 'wrong' and there will be no profits.
But hold on you'll be told, the company is going to be doing a big new deal next week, this one will fizzle, probably 50% in a matter of months. That will get all your losses back on the other deals and you'll still come out ahead. As you're one of our preferred clients I can reserve some of the deal for you, but hurry up, all out clients are going to be wanting this one and I can't guarantee I'll be able to hold on to your allocation, you've got to be quick otherwise you're going to miss the bbig profit....
All I can do is sigh......
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One thing to always remember about an 'exchange' is it's hard to have a believable one if somebody doesn't guarantee all the trades. The best exchanges therefore use some sort of 3rd party clearing house or at least a much larger firm to guarantee the trades.
If 2 traders therefore meet in an exchange they don't have to be worried about each other's creditworthiness (or the creditworthiness of the actual Exchange) because the Exchange is backing up the trades via the clearning house. Of course, now the Exchange has to make sure that it only lets people onto the exchange if it's satisifed by their financials.
This is one question I'd love to know about any carbon credit firm that suggests its setting up an Exchange especially from one where the website is not even 3 months old!
Of course there's no mention about the all-important financials on the company's website but it's facts like this that 100% of their clients won't even realise. This is why the clients are probably known as 'valued clients'
If 2 traders therefore meet in an exchange they don't have to be worried about each other's creditworthiness (or the creditworthiness of the actual Exchange) because the Exchange is backing up the trades via the clearning house. Of course, now the Exchange has to make sure that it only lets people onto the exchange if it's satisifed by their financials.
This is one question I'd love to know about any carbon credit firm that suggests its setting up an Exchange especially from one where the website is not even 3 months old!
Of course there's no mention about the all-important financials on the company's website but it's facts like this that 100% of their clients won't even realise. This is why the clients are probably known as 'valued clients'
Pboyles - firstly I have a real asset - not shares in a company that actually has no assets or business. So I have not made a loss (or profit) as yet. Unless you are telling me that the whole UN certification of VERs is bogus including the VCS registry I have that asset. And companies do buy (and retire) VERs to offset their carbon footprint. Like Fonze I have refused to invest significantly more through the many many brokers who want to sell me more credits on the promise of a future exit. This is a relatively small amount of risk money. If they find a buyer for my credits, great - if they don't or are simply a bogus setup then I can live with loss of the fee. Based on Fonze experience and my own due diligence, it seems like a measured and sensible risk.
You don't have a real asset, you have a piece of paper.
Sound familiar? National Fraud Intelligence Bureau | June 12 - Carbon Credit fraud
I tell you what, take your carbon credits that you bought from a cold caller to the bank and see if you can use them as security for a loan. When they stop laughing at you they will probably give you an estimate of their true value.