A French lawmaker has been accused of promoting a cryptocurrency project known as limocoin swap (LMCSWAP) in the National Assembly, but he denies receiving payment from lobbyists to do so.
Le Monde and MediaPart’s investigations into Israel-based firm Team Jorge have revealed that MP Hubert Julien-Laferrière made “off-topic” comments about LMCSWAP at a Foreign Affairs Committee meeting.
The token was launched by Cameroonian businessman Emile Parfait Simb, who is accused of running a Ponzi scheme. The coin is built on Binance’s BNB Chain, and complaints have been lodged with Binance Africa.
The media outlets allege that the MP was paid by lobbyist Jean-Pierre Duthion to speak about the coin in Parliament. After the allegations were made public, the MP took to Twitter to deny being paid by anyone.
The project has been criticised by many, with some alleging that the company that issued limocoin swap “performed” a “rug pull” – a scam in which the issuer suddenly vanishes with investors’ funds.