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Kenya-linked US firm bosses caught in Sh12bn carbon fraud
Earlier in 2022, Kenya received $13.79 million (Sh2.14 billion) from 16 Saudi Arabia firms, including Aramco and Saudi Electricity, Saudi Arabia’s power distributor, at an auction organised by the Gulf State’s Regional Voluntary Carbon Market Company (RVCMC).
A US court has charged two top executives of an American firm with a presence in Kenya with fraudulently obtaining carbon credits worth tens of millions of dollars involving cookstove projects in three African countries.
Kenneth Newcombe and Tridip Goswami of CQC Impact Investors were found guilty of engaging in a multi-year scheme to fraudulently obtain carbon credits by using manipulated and misleading data on cookstove projects in Malawi, Zambia and Angola.
