Lincoln Trust (2017-07-27)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning investors and the public against dealing with an entity calling itself Lincoln Trust (LT), operating via the website www.litru.co. The JFSC states LT is not authorised to conduct financial services business in Jersey and is falsely implying a connection to a legitimate former Jersey entity.

• No authorisation: LT has never been registered nor applied for registration under the Financial Services (Jersey) Law 1998, and any financial services business it has conducted in or from Jersey since 1 July 1999 breaches Article 7 of that Law.
• False connection: LT is not connected in any way to Lincoln Receivables (Jersey) Limited (formerly Lincoln Trust Company (Jersey) Limited), which ceased Jersey financial services business on 13 May 2009.
• Fraud warning signs: Based on documentation held by the JFSC, LT and its website display warning signs of being set up for a fraudulent purpose.
• Method of contact: LT has reportedly made unsolicited calls to potential investors in Europe.

The statement is purely a public warning notice; it does not impose ongoing regulatory obligations on licensed businesses but asks anyone who has dealt with LT to contact the JFSC.

Key obligations

• Any person who has had dealings with LT is requested to contact the JFSC.