Your letter helps thwart fraudsters

D.M. writes: I wonder if you could offer some advice. I have been approached by Portland Investment Group of Sheffield, saying it can sell my carbon credits for £9.50 each, giving a return of £13,347. It looks attractive, but it wants me to pay £2,100 to ‘reformat’ the credits, though it says this fee is refundable. Have you come across

this company and do you think I would lose the £2,100 if I go ahead?

YES, I have come across these crooks and yes, you would lose your money. I warned last month that the real Portland company in Sheffield runs a recruitment business.

The people who have stolen and misused its

name are fraudsters. They have got hold of lists of victims of past scams, including investors in carbon credits and plots of land. The crooks claim they can magically market such investments for a profit, but everyone has to pay an up-front fee.

There is no way to turn your carbon credits into a different

investment and your £2,100 would be lost. But you have helped lots of other potential victims by telling me that if you had fallen for this scam, your £2,100 would have gone to bank sort code 40-09-00 and into account number 84009789 in the name of E Simpson.

This is an HSBC account so I contacted the bank which moved into action fast. HSBC told me: ‘We are extremely grateful for the information.’

The account has been ‘inhibited’ so no more victims’ funds should be lost.