Unbelievable and yet true is the story of two partners who found the opportunity to steal millions from the roughly organized trade in pollutants in the European Union, which is presented in an extensive report by the “Guardian” newspaper. Gustave Dafny and Gregory Xavi set up the “fraud of the century” on the opportunity they perceived, costing European Union member states billions. This as they found a way to collect VAT refunds, which they had not paid, obtaining fabulous sums from the states themselves! The emissions market in the European Union, especially in the early 2000s, which had just taken its first steps, was the ideal field of action for the duo. The method of theft The European Union would set an annual cap on emissions in implementation of the Kyoto Protocol. It would then issue a certain number of rights, EUAs, to various broadcasters. If a company had surplus EUAs at the end of the year, it had not emitted, that is, the pollutants it was entitled to, it would […]
Source: News Beast
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