Tridip Goswami Denies Involvement in $100 Million Carbon Credit Fraud Amidst Global Scandal

Share it

Tridip Kumar Goswami, along with Kenneth Newcombe, has found himself at the center of a massive fraud scandal involving more than $100 million in the carbon credit market, drawing global attention. Every major U.S. media outlet, including The Washington Post, Bloomberg, The Guardian, and The Wall Street Journal, has widely reported on the case, emphasizing its significance in the ongoing global fight against climate change.

According to reports from the U.S. Attorney’s Office in New York, Goswami and Newcombe have been charged with manipulating data in carbon offset projects aimed at reducing greenhouse gas emissions, specifically through the distribution of efficient cookstoves in rural areas of Malawi, Zambia, and Angola. Their company, CQC Impact Investors, is accused of exaggerating the success of these projects to generate inflated carbon credits.

Goswami, a professional with extensive experience in carbon and sustainability accounting, has been identified as a key figure in the alleged scheme, according to the U.S. Attorney’s Office. Both he and Newcombe face charges of wire fraud conspiracy, commodities fraud conspiracy, wire fraud, and commodities fraud. Newcombe faces additional charges of securities fraud.

However, Goswami, in a statement, strongly denied any wrongdoing and expressed his surprise at the allegations.

“This news in the U.S. media came to me as a shock as no authority has ever reached out to me, even after more than 10 days of its publication,” Goswami stated. “Regarding the news, I was a former technical resource of the said organization and during my tenure at C-Quest, from which I resigned more than a year ago, I led many successful projects worldwide with distinction over my 20-year professional career. These projects were cleared by third-party auditors and carbon registries, and never faced any questions from any authority.”

Goswami emphasized that the allegations appear aimed at discrediting the work of his former boss, Kenneth Newcombe, and insisted that he has not been contacted by U.S. authorities to provide his side of the story. “I deny any wrongdoing on my part in the projects that I was involved in and would clarify this to the authorities if required. I specifically refute the allegations leveled against me.”

The alleged fraudulent activities involved inflating the number of operational cookstoves and overstating their effectiveness in reducing carbon emissions. These falsified carbon credits were then sold to companies looking to offset their emissions, leading to a multi-million-dollar fraud case that has shaken the global carbon credit market.

While CQC Impact Investors has avoided direct criminal charges by cooperating with authorities and canceling the fraudulent credits, Goswami and Newcombe face serious legal consequences. Jason Steele, CQC’s COO, has already pled guilty and is cooperating with investigators, potentially influencing the outcomes of Goswami and Newcombe’s cases.

Goswami’s denial brings a complex dimension to the scandal, leaving many in the industry awaiting further developments.


Share it