ECONOMY
Masdar company warns about potential fraudulent activity
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Baku, March 7, AZERTAC
Abu Dhabi Future Company PJSC - Masdar (“Masdar”) together with its fully owned subsidiaries incorporated in Azerbaijan (Masdar Azerbaijan LLC and Masdar Azerbaijan Energy LLC), have reported that individuals or organizations may be attempting to use social media platforms to encourage members of the public in Azerbaijan to invest in companies claiming to be linked to Masdar.
In particular, Masdar has been informed that people are being encouraged to invest in a company called “Masdar Energy” that promises to invest their funds in solar and wind generation projects. Masdar understands that this - and similar “investment opportunities” being promoted on social media platforms - is in fact a so-called “pyramid” scheme, with the only funds coming from the investors themselves.
The following information is designed to help members of the public protect themselves against fraudulent activity involving institutions or individuals claiming to represent, or offer products or services on behalf of, Masdar.
Masdar is a renewable energy development company that is wholly owned by three shareholders: Abu Dhabi National Energy Company (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC). Masdar does not provide any form of banking or investment services to individuals or companies or serve as a representative of any financial institutions.
Under no circumstances would Masdar or any of its employees offer any investment opportunities via a social media platform such as Telegram or YouTube. Should you be contacted by individuals or institutions purporting to be from Masdar, on social media or via other channels, claiming to offer you investment services, requesting monetary deposits, or attempting to obtain your personal details, one should assume that these individuals or institutions are engaging in fraud or identity theft and should be reported to your local police authority.
Masdar’s official website operates only under one domain name https://www.masdar.ae, and is not connected with the hosts of any other websites that may look similar to its official website. Individuals may access the Masdar website by typing the above domain name into the address bar of your browser, or by bookmarking the genuine website. The company recommends that individuals do not access the Masdar website through hyperlinks provided in emails or websites from an unknown origin, internet search engines or pop-up windows.