Hi All,

I've been receiving cold calls from an investing company "Westernfield Holdings" based in Japan, doing projects that generate carbon credits, promising returns of 50-60% within 3 months!

The guy wanted to do business only based on the phonecall ("information too secret to let you have in written form"), so of course, I refused.

Any experiences with the firm, or with investments in carbon credits?

Why would anyone bother calling you if they had an investment opportunity promising 50%+ return in 3 months. Don't you think that they would be expending every ounce of energy on maximising their own exposure to this "remarkable opportunity" rather than cold-calling small investors?

Exactly my reasoning!

There's a post about this company on Yahoo! Answers.

See: Anybody know Westernfield Holdings?

The "best answer" by "John" looks incredibly suspect to me. Like as if it was posted by the company themselves.

I've seen a lot of this kind of "Schleichwerbung" with regards to investments and financial advice.

Reports of carbon credit fraud abound on the net too.

Wow! Nice work, Ed Bob!
Btw, the guy who called me also had the first name John!

Carbon Credits is a dying market.

No wonder everyone is desperate to let YOU make the 50% in 3 months

Go buy a lotto ticket instead

Did it ever live?
I'm not an avid investor, but I never heard much noise about it!

The guy did say that a CER (the unit for a credit) costs around Euro 14. I looked up on the internet, and this seems to be true. However, I don't know how transparent and legally enforcable this market is, say, compared to the stock market? Translation: Is it safe to buy carbon credits from a company you've never met, and is not even located in this country?

Typical “boiler room scam”…

The Westernfield Web-Site was created May 20, 2009.

It seems a gang of fraudsters is just popping up regularly with new “companies” and new “fantastic opportunities” in which to invest : It is just all fake and lots of people seem to be fooled by these guys who are indeed quite convincing when they first call…

Just have a look at the “Arnaque Artemis” blog (put this in google and you get there right away). Blog initially in French but many comments in English as well. Most of these boiler-room “companies” are discussed there with info from numerous victims.

Advice : STAY AWAY from these guys !

If you search through internet, you find a lot of “press – releases” from Westernfield. This is a trick that all these “companies” use to create confidence,and to drawn forums and blogs like this one. But…. Look a little closer, none of these “press – releases” is older than May this year.

And.... Beware :

Same approach now by another "company" that call themselves "World Wide Wealth Management", pretending to be located in Hong Kong, calling people asking to "invest" in "Center Focus Media"... Both these "companies" web-sites created only in July this year...

yes, it is a functioning market and CERs are 'real' instruments.

yes, a CER is worth about EUR 15 right now, but they have traded for EUR 20 and even 30 before. The consensus is that they will trade lower going forward for the next few years at least.

but no, its not like a stock. you cannot hold them in your trading / brokerage account.

and most important, they do not trade on stock exchanges. indeed they do not trade on a normal exchange at all. they are traded between large companies, usually through 'brokers'. if you have 100 or even 1000, you are basically 'up sh1t creek without a paddle' cause most corporates are looking for trading them in lots of 10,000 or more.

summary : avoid like the plague.

Lika you, I've received a cold call from someone in Japan who promised me all the things he told you. The premise is that in 2009 we were flooded with information on carbon trading norms to reduce pollution and no summit was in view yet. Now e all know the carbon regulation is a cheat for honest people.

However, my personal unfortunate exprerience with Westerfield started on August 2009 with a tiny 6118.20 euros (that was the amount they said will suffice). After a while on November 2009, they told me that they neede a further injection of money (12236.40 euros) to put me with the first class investors. The 3rd time (December 2009) with a further 12236.40, I would heve been upgraded. On January 2010, they told me that there was a delay in the credit refund due to Copenhagen uncertainties. However, they assure me that with a last payment of 8626.66 they promised to put me with zhe largest creditors to be refunded.

I'm still waiting. Two weeks ago, one of those Westernfield guys had the impudence to ask me for a 4000 euros to add to the Indonesia, Carbon Trading Program. I guess you know where I told to go to.