Kenneth Newcombe, formerly CEO of C-Quest Capital, indicted over allegations of carbon credit manipulation

A former carbon offsetting executive has been charged with fraud by US federal authorities, who allege that he helped to manipulate data from projects in rural Africa and Asia to fraudulently obtain carbon credits worth tens of millions of dollars.

Kenneth Newcombe, former CEO of C-Quest Capital LLC and a leading figure in the offsetting industry, was indicted on Wednesday in New York with commodities and wire fraud.