Kenneth Newcombe, former CEO of C-Quest Capital, has been indicted on fraud charges by US authorities for allegedly manipulating emissions-reduction data to fraudulently obtain carbon credits worth tens of millions of dollars. The indictment, unsealed in New York, accuses him of selling false carbon credits derived from cooking stove projects in Africa and Asia, misleading investors and securing over $100 million in funding. Newcombe, who has a background with Goldman Sachs and the World Bank, faces up to 20 years in prison if convicted. Alongside him, Tridip Goswami, a former C-Quest executive, has also been charged, while another executive, Jason Steele, has pleaded guilty and is cooperating with the investigation. C-Quest Capital's practices were scrutinized following a Channel 4 News investigation that revealed many of the provided stoves were broken or abandoned, raising questions about the effectiveness of their carbon offset projects. The company has not been charged criminally due to its cooperation and self-disclosure of misconduct.