In a stunning backflip, South Africa’s FSCA has given up on regulating Karatbars International.
Karatbars International @ BehindMLM
Regulators in Germany and South Africa have issued fraud warnings pertaining to involvement in Karatbars International.
The Bank of Namibia has issued a pyramid scheme warning against Karatbars International.
In a desperate bid to prop up its ethereum-based KaratGold Coin shitcoin, Karatbars International held a “Gold Independence” event on July 4th. Since the event, KaratGold Coin has dumped from a July 3rd 12.6 cent high, down to 4.9 cents.
The latest MLM company to jump on the pointless altcoin launch is Karatbars International. For those unfamiliar with the company, Karatbars International combines pyramid recruitment with a token gold offering. While gold is available for purchase through the company, the focus of the compensation plan is getting people to sign up with affiliate packages. You [Continue reading…]
Karatbars International are one of the pioneers of the gold recruitment MLM business model. Under the guise of purchasing gold, Karatbars’ business model sees affiliates pay a fee and are then paid to recruit others who pay a fee. In 2014 Canadian regulator Autorité des marchés financiers (AMF) issued a warning against Karatbars. The warning was [Continue reading…]
Karatbars International launched in 2011 and claim to be based out of Stuttgart, Germany. The company’s website domain registration however paints a different picture, with “karatbars.com” being registered to a “Harald Seiz” of “Karat Swiss AG”, operating out of Glarus in Switzerland. Adding to the confusion is a German telephone number provided on the domain registration. Harald Seiz (right) [Continue reading…]
March is Fraud Prevention month in Canada and, having already issued a warning on Phil Ming Xu’s WCM777 Ponzi scheme earlier this month, the Autorité des marchés financiers (AMF) have now set their sights on Karatbars International. The AMF’s latest warning, issued on March the 20th, warns Quebec investors ‘to be cautious about an investment program [Continue reading…]