12 convicted for EUR 146 million ETS fraud

A further 36 people have been prosecuted in the "twilight case" concerning a EUR 146 million scam on the carbon quota market. One of the accused has been sentenced to nine years in prison.

BY MAZ PLECHINGER

Published: 15.09.17 at 10:38

The criminal court in Paris delivered its first verdict in the case of fraud involving billions of CO2 quotas, report media including Le Monde. 12 people have been convicted and sentenced to prison or fined for their role in the "twilight case", named for one of the companies involved in the fraud, Crépuscule, which saw the French state defrauded of EUR 146 million.

As the "initiator and primary beneficiary of the fraud," Cyril Astruc received the most severe punishment with a nine-year prison sentence.

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