1, UC Morgan is a pyramid selling activity conducted by online pyramid selling organizations through crowdfunding financial platforms. Lure others to join, and induce participants to develop offline with high profits and high commission. The organization has a pyramid structure, a clear division of labor and hierarchical management. Its high commission is based on the statistics of the number of people who have gone offline, and the corresponding awards include direct promotion award, team award, algebra award and so on. There are as many as 300 victims involved, which has a bad social impact.

2. JPMorgan Chase's statement on "UC Morgan". JPMorgan Chase learned that some websites, Weibo and WeChat platforms are promoting U.C. Morgan's financial crowdfunding platform. These websites, Weibo and WeChat platforms have nothing to do with any affiliated companies of JPMorgan Chase Group and JPMorgan Chase. Neither JPMorgan Chase Group nor any affiliated company in JPMorgan Chase holds shares in UC Morgan, nor does it have any relationship or association with UC Morgan in China or anywhere else. JPMorgan Chase has not authorized the establishment of any crowdfunding platform or any other similar platform in China, nor has it authorized UC Morgan to mention J.P. Morgan, JPMorgan Chase and Morgan Stanley in any way.