Investments too juicy to be honest

By Camille FratiLex Kleren Switch to French for original article

The financial centre has long been a magnet for fraudsters. The digital age has given them the ability to disappear into thin air while multiplying their potential victims.

"Right now, my main source of income comes from a new automated crypto-currency management program called Bitcoin Code. I have never in my life seen a better opportunity to build a small fortune quickly. I'd advise everyone to try it quickly before the banks put a stop to it." In the summer of 2021, social networks, led by Facebook, featured what appeared to be a transcript of an RTL interview with HRH Grand Duke Henri extolling the virtues of an investment with an extraordinary return. Another article involved the then Prime Minister, Xavier Bettel, again praising La Formule Française, as did Richard Branson and Elon Musk.

Obviously, these interviews were fabricated and easily misunderstood by those who know anything about Luxembourg and its top executives. But for others, the article may have seemed plausible and even have encouraged them to take an interest in the investment in question. "Promising fantastic returns worked very well, especially during the long period when interest rates were very low", says Marie-Paule Gillen, an attorney at law and a partner at DSM, which specialises in banking and financial law.

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