Kenneth Newcombe, former CEO of C-Quest Capital, faces federal fraud charges for allegedly manipulating carbon credit data from projects in rural Africa and Asia.
Federal prosecutors charged Kenneth Newcombe with commodities and wire fraud, claiming he helped inflate the success of cooking stove projects to attract over $100m investment.
Studies indicate that cooking stove projects are overstating their emissions reduction impact by an alarming average of 1,000%, raising serious environmental concerns.
Kenneth Newcombe, a past board member of Verra and a seasoned figure in carbon offsetting, denies the fraud allegations against him, maintaining his innocence.
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