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Germany seeks British man's arrest in carbon trading scam

BERLIN (AP) — German prosecutors said Monday they are seeking the arrest of a British businessman charged with heading a criminal gang that stole 125 million euros ($133 million) by fraudulently trading in carbon emissions.

Prosecutors in Frankfurt said the 46-year-old man “substantially organized and directed" a so-called system carousel, which involved a chain of transactions with carbon dioxide emissions certificates designed to confuse tax authorities.

The suspect “ensured his identity was hidden, used various aliases and was known within the group as ‘Batman,’” the prosecutors said. The businessman, who wasn't named by German authorities for privacy reasons, was arrested in Britain several years ago but later released.

German prosecutors have now applied for a fresh European arrest warrant over the alleged crimes, which date back to 2009 and 2010. Several of the man's associates have already been sentenced to prison terms ranging from 27 months to eight years.

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