United States
£ GBP
Doctoral thesis on the Teakwood investment program, which succeeded in arousing the interest of many investors for hardwood plantations in Costa Rica. In part, this success was due to the World Wide Fund for Nature and the insurance company OHRA. Thousands of investors transferred many millions of Guilders and, in the Netherlands alone, around a dozen other teak investment programs followed in Teakwood's wake. The program was presented as 'Green Gold' but, from November 1995 onwards, encountered increasing opposition. By the autumn of 1996 OHRA ceased the sale of its Teakwood policies. Paul Romeijn analyzed the declarations from the Teakwood contract partners, the forest management certificate, the projected rates of return and the way that the Internet contributed in 'exposing the program'. Ultimately, lack of credibility was the main cause of the downfall of the teak fund. Internet circulars with declarations by the Teakwood contract partners and comments thereon by experts have greatly contributed to the exposure of non-consistent declarations, suspect certification constructs and unaccountable production claims.
