Kairos Technologies under investigation in Turkey
Turkey’s Customs and Trade Minister has declared Kairos Technologies to be a pyramid scheme.
The announcement was made after over six thousand complaints were filed with the Ministry, with Kairos Technologies now the subject of an official investigation.
Complaints against Kairos Technologies increased in density last year, culminating in 6502 complaints filed to date.
Most of the complaints are in regards to Consumer Protection and accuse Kairos Technologies of masquerading as a legitimate MLM company.
According to Turkish law, Kairos Technologies would be classified illegal if
a sum of money or property was exchanged between participants in the system under a condition that promised money or property when other participants were found to join the opportunity.
Among other things, BehindMLM’s September 2015 review of Kairos Technologies found the company paid a percentage commission on the recruitment of new affiliates.
As per Turkish law;
The establishment and promotion of Pyramid selling systems is prohibited.
The Customs and Trade Ministry seeks to establish whether Kairos Technologies and its local promoters have operated in violation of the law.
“(Steps have been taken) to the audit (Kairos Technologies and) examine (it) under the relevant legislation”, said Trade Minister Bülent Tüfenkci.
In related news, Slovakian authorities recently issued their own warning against the company.
Stay tuned…
Nice! Good new for all Kairos addicted and indoctrinated affiliates. 😉
Is there any link proving the existence of the filling and announcement?
Looks like a downfall of Kairos. In the perspective of Kairos “business” – Turkey used to be a fast-growing country, thus providing enough financial resources from new affiliates to satisfy payments requirements of older investors.
I found it on my own:
hurriyet.com.tr/gumruk-ve-ticaret-bakani-tufenkciden-kairos-aciklamasi-ihbar-var-incelemeye-aldik-40141691
I don’t know why you write in all over your site that all the network marketing is a scam while it’s network marketing is legal and the companies last for many years.
But at least you are doing a very good work with updating about all the ponzi investments like Kairos and more!
I don’t. Only the MLM companies that are scams get called out as such.
If your MLM due-diligence is mostly leading you to scams, there’s a problem on your end.
So what makes an MLM company to be a scam?
How can i know which MLM company is a scam and which is not a scam?
Look for significant retail sales and go from there.
@Arik:
Trace the source of the money they are promising to pay to affiliates for commissions, rewards and a passive income.
If there is a proof the money come from the retail sales (from non-affiliates), it’s likely legal MLM.
If you cannot trace any other source than payments from other affiliates, it’s highly suspicious and that “MLM” is very likely a scam.
You mean, there are people around 6,502 complainants filed to date based on what you said on below?
Complaints against Kairos Technologies increased in density last year, culminating in 6502 complaints filed to date.