Thursday, October 11, 2012

U.S. Struggles to Rescue Green Program Hit by Fraud

New York Times: A Maryland man is awaiting sentencing for what may seem an unusual crime: selling bogus renewable energy credits and using the $9.3 million in illicit proceeds to buy jewelry and a fleet of luxury cars. In a similar case in Texas, a man has been indicted for selling a whopping $42 million in counterfeit credits. He bought real estate, a Bentley and a Gulfstream jet. As a result of such cases, the Environmental Protection Agency is scrambling to retool a program that relies on such credits to encourage...

URL: http://www.nytimes.com/2012/10/12/business/energy-environment/us-struggles-to-rescue-green-program-hit-hard-by-counterfeiters.html

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