Ethical Forestry Limited
The SFO launched an investigation into suspected fraud at Ethical Forestry Limited, an allegedly fraudulent tree-based investment scheme, in 2017.
On 14 June 2023, the SFO charged former directors of the company, Matthew Pickard, Stephen Greenaway and Paul Laver, with two counts of 鈥淐onspiracy to commit fraud by false representation鈥�, contrary to section 1 of the Criminal Law Act 1977 and one count of 鈥淔raudulent trading鈥�, contrary to section 993 of the Companies Act 2006.
A trial has been listed for early 2026.
Case timeline
28 Mar 2025 鈥� All three defendants plead not guilty to all charges at Southwark Crown Court.
26 Jul 2023 鈥� Matthew Pickard, Stephen Greenaway and Paul Laver appeared at Southwark Crown Court for a first hearing. A trial has been listed for early 2026. The SFO will be in contact with individuals who have provided a witness statement in this matter.
28 Jun 2023 鈥� Matthew Pickard, Stephen Greenaway and Paul Laver 鈥� attended their first hearing at Westminster Magistrates鈥� Court.
14 Jun 2023 鈥� Former Directors of Ethical Forestry Limited, namely; Matthew Pickard, Stephen Greenaway and Paul Laver, are charged with the following offences:
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Two counts of 鈥淐onspiracy to commit fraud by false representation鈥�, contrary to section 1 of the Criminal Law Act 1977.
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One count of 鈥淔raudulent trading鈥�, contrary to section 993 of the Companies Act 2006.
8 Mar 2017 鈥� SFO investigation announced. The SFO, in conjunction with Dorset Police, has executed search warrants at three addresses.
See our past press releases under 鈥淣ews鈥� on the SFO鈥檚 .
Information for investors
Questionnaire
The SFO would like to thank those investors who have already completed our investigation questionnaire and ask that you please retain any correspondence or documents you hold in respect of your investment.
If you have invested funds into this scheme and are yet to complete our investigation questionnaire, we would ask that you do so .
Please do not forget to update us if your contact details change or have changed since you completed a questionnaire.
Should you have any queries or require assistance completing our questionnaire, please contact our dedicated Support Officers, by email at [email protected] who will be happy to assist.
Compensation
Investors who meet certain criteria may be able to claim compensation from the Financial Service Compensation Scheme (鈥淔SCS鈥�). For further information please visit the .
Support for victims and witnesses
If you have been impacted by this case and need support, please see for information on support services available to you.
Updates to this page
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Timeline updated with not guilty pleas.
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First published.