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Rothschild & Co Warns: LCF Project Falsely Associates Its Unregulated Fundraising Scheme with the Rothschild Name

Rothschild & Co
2017-01-23 15:55 4020

HONG KONG, Jan. 23, 2017 /PRNewswire/ -- Rothschild & Co, one of the world's leading independent financial advisory groups, wishes to warn the general public against the apparent spread of an unregulated fundraising scheme from China calling itself "Rothschild Family LCF Project", "LCF Coins" or "LCF Cryptocurrency". This scheme purports to be a fund for investment in relation to virtual currencies and the "Internet of Things" and to pay out money in tranches based on the time people invested. This indicates that the fund is very similar to a Ponzi scheme. Investors should be aware that this unregulated fundraising scheme has falsely associated itself with the Rothschild name without authorisation. The group has seen signs that the scheme, or offshoots from the scheme, have begun to target members of the public outside of China in the past few weeks.

From the information available to Rothschild & Co, this unregulated scheme has been propagated by unknown individuals for several months in China through the internet and on WeChat, Sina Weibo, QQ and other Chinese social media. The fraudulent posts continue spreading on social media (especially through WeChat group chats). More recently this fraudulent scheme has been propagated on various English language websites and social media (including Facebook and YouTube), inviting people to register through an email address, "GetCoins@2017@gmail.com". Messages have also been observed on the mobile community application BAND in Korea. It is understood that messages may also be circulating on other social media and other countries in Asia as well.

Neither Rothschild & Co nor any members of the Rothschild family have any connection with this unregulated fundraising scheme. Rothschild & Co has taken various steps to draw the attention of the public in China to the fact that this unregulated scheme is misappropriating the "Rothschild" name without authorisation, and continues to offer co-operation with the authorities.

Rothschild & Co strongly recommends that members of the public who have invested or are considering investing in this unregulated scheme in any country should contact their local police immediately.

About Rothschild & Co

With a team of c.2,800 talented financial services specialists on the ground in 40 countries across the world, our integrated global network of trusted professionals provide in-depth market intelligence and effective long-term solutions for our clients in Global Advisory, Private Wealth, Asset Management, and Merchant Banking. Rothschild & Co is family-controlled and independent and has been at the centre of the world's financial markets for over 200 years.

Rothschild & Co is a French partnership limited by shares (societe en commandite par actions) with a share capital of EUR142,274,072. Paris trade and companies registry 302 519 228. Registered office: 23 bis avenue de Messine, 75008 Paris, France. Rothschild & Co is listed on Euronext in Paris, Compartment A - ISIN Code: FR0000031684.

Source: Rothschild & Co
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