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The Billion-Dollar Environmental Scam
墨書 Inktalez
It was a sweltering afternoon when Old Ma suddenly pushed the door open and exclaimed, "Old Yang, we’ve got a big problem!"
Looking up at his serious expression, I knew he had some news. Old Ma had been my informant for years and was well-connected in the environmental sector.
"You've heard of Oasis Environmental, right?" He sat down at my desk and lowered his voice. "Recently, quite a few companies have been badly scammed by them."
I was all too familiar with the name Oasis Environmental. Over the past two years, this company had become a star in the environmental technology field. Their founder, Zheng Mingyuan, was constantly making headlines, boasting about returning from Silicon Valley to start a business and claiming he would save the planet through technological innovation. The media had nearly turned him into the Musk of the environmental world.
"What’s going on?" I grabbed my voice recorder. My instincts told me this could be big news.
"Yesterday, a friend of mine who runs a chemical factory called me in tears. Last year, he spent over ten million on their carbon capture equipment, and it turned out to be nothing but scrap metal. Forget about reducing emissions; the electricity bills are about to bankrupt his factory."
I frowned. "Is there a contract?"
"There is, and it’s beautifully drafted." Old Ma pulled out his phone to search for something. "I asked him to send me all the documents. You can take a look for yourself."
When I received the files, I found everything was covered: technical inspection reports, patent certificates, usage cases—all complete. But upon closer inspection of the report's stamped inspection agency, I discovered it was an obscure little company.
"How can such a company conduct environmental testing?"
"That’s the problem," Old Ma nodded. "I did some digging; that testing company is just a shell—there's no address to be found."
I became intrigued. "Your friend isn’t the only victim, is he?"
"Over the past couple of days, I've learned that at least seven or eight companies have fallen victim to this. Everyone was dazzled by their facade, and with the current pressure from policies, companies are eager to meet environmental standards."
As I took notes, I organized the information in my mind. The tightening of environmental policies, the urgency of companies to comply, combined with the founder's charisma, indeed created an ideal environment for a scam.
"By the way," Old Ma suddenly recalled, "next week they are holding a product launch at New City Technology Park. They claim to be unveiling some revolutionary zero-carbon technology, and the price is rumored to be in the millions. They've already invited quite a few companies."
I put down my pen. "Can you get an invitation?"
"That's easy," Old Ma chuckled. "Do you want me to forge an identity as a procurement representative?"
I nodded. As an investigative journalist, posing as a procurement representative for an on-site investigation was the best approach.
After sending Old Ma off, I immediately began digging into Oasis Environmental. On the surface, the company appeared impressive: three rounds of financing, a valuation in the billions, state-owned investors backing them, and recognition as a key supported tech enterprise. But digging deeper revealed numerous red flags: several core technical personnel had unverifiable backgrounds, some investors seemed to have connections with company executives, and their proud patents were filled with ambiguous jargon.
What concerned me most was their financing rhythm. In just three years, their valuation skyrocketed dozens of times, yet shortly after each round of financing, they launched new products at increasingly higher prices. This operational model resembled a Ponzi scheme in many ways.
As night fell, I continued sorting through materials. Outside my office window, a large billboard for the Carbon Neutral Demonstration Zone stood out vividly against the neon lights. Staring at that glaring green glow, I suddenly realized that this might not just be a simple case of commercial fraud.
If my instincts were correct, a massive scam disguised as an environmental initiative was unfolding. And this could very well be just the tip of the iceberg.
I opened my notebook and wrote down my first plan: next week's product launch might just be the key to unraveling this deception.
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