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California Pollution Credit Trader Arrested on Wire Fraud Charges
Release Date: 06/30/2004
Contact Information:
Christopher Lagan 202-564-7338/lagan.christopher@epa.gov
(06/30/04) Anne M. Sholtz of Bradbury, Calif., former operator of a bankrupt Pasadena-based internet site called Automated Credit Exchange (ACE) was arrested on June 16 on charges alleging she defrauded AG Clean Air, a New York-based company that trades in energy credits. The affidavit claims that, in 1999, Sholtz approached AG Clean Air and stated that Mobil Corporation needed to purchase a large number of RECLAIM Trading Credits (RTCs) for a refinery in Southern California. RTCs allow a company to emit specific quantities of nitrogen and sulfur oxides into the air. Sholtz allegedly told AG Clean Air that if it gave her $12.5 million to buy the RTCs, Mobil would re-purchase them for $17.5 million. Sholtz allegedly paid AG Clean Air $9 million and then told the company that Mobil was having problems coming up with the rest of the money. The affidavit further states that in 2002, Sholtz admitted to fabricating documents and to having associates impersonate Mobil employees. She allegedly claimed to be forced into these fabrications by an ACE employee who had sold RTCs without her knowledge. The case is being investigated by the Los Angeles Area Office of EPA’s Criminal Investigation Division and the South Coast Air Quality Management District. It is being prosecuted by the U.S. Attorney’s Office in Los Angeles. Federal charges are merely an accusation and all defendants are presumed innocent unless or until proven guilty in a court of law.
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