Financial Times FT.com

Carbon trading

Raided carbon trader seeking buyer

By Fiona Harvey in London

Published: August 24 2007 03:00 | Last updated: August 24 2007 03:00

A carbon trading company with £300m ($600m) in investments said on Thursday it was confident of finding a buyer after it was raided by HM Revenue and Customs in the UK.

Carbon Capital is under investigation because of suspicions that its investments in forestry projects, which are meant to generate carbon credits for sale under the Kyoto protocol, may have been used as vehicles for tax evasion.

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