Karatbars International cease & desist in Germany finalized
BaFin has finalized its cease and desist order against Karatbars International.
BaFin, Germany’s top financial regulator, issued Karatbars with a cease and desist back in late 2019.
BaFin finalized the order on April 12th ordering Karatbars, operating as Karatbit Foundation, a Belize shell company,
to stop and wind up the electronic money business Karatbit is conducting in Germany based on the issuance of the “KaratGoldCoin” without the necessary licence.
Karatbars International and associated companies are owned and operated by Harald Seiz.
After a very public meltdown in late 2020, Seiz spent the first half of 2021 repairing his damaged reputation on social media.
In June 2021 Seiz announced a Karatbars International reboot, centered around a “Lifebase” shitcoin.
Seiz later deleted the announcement. As far as I know neither the reboot or Lifebase eventuated.
In late 2021 BehindMLM caught wind of renewed attempts to resurrect Karatabars.
As of yet nothing has eventuated from that discourse either.
A German law firm in Berlin reports in detail:
share-your-photo.com/6090f22e2a
resch-rechtsanwaelte.de/anlegerschutz-aktuell/karatbars-international-bafin-interveniert.html
What about Freebay and V999?
“Associated companies”. There’s probably a dozen shell companies connected to Karatbars if you dug deep enough.
The Freebay website no longer exists.
WHAT HAPPENS TO KARATBARS?
It was a Ponzi scheme that collapsed.
I buy karat bars coins long ago what I’m go to do with it now are still has the vale u in the market
You invested in a Ponzi scheme and have been left bagholding worthless Ponzi coins.
Sorry for your loss.
Myself and my friends bought and gold bars stored by karetbars plus nought thousands of tokens KBC TOKENS APPROX 4 YRS AGO And I had 2,960 clients.
I’ve been messing them about my stored Gold bars which is only 11.6 grams. Knowone has returned any of my messages. Myself and friends acted in good faith.
If you have any information of what or where to find any help getting my Gold and my 22,000 approx returned or get my physical coins or Gold will you please let me know if it’s at least possible.
The gold you think you purchased doesn’t exist.
You got scammed. Sorry for your loss.
Come on People. Someone is holding your Gold Coins. The old saying you must hold it yourself. Why would anyone trust anyone to hold your gold? Or Silver coins.
People need to go buy their own gold or silver coins and have them sent to their address. You hold your coins.
Letting scammers hold make-believe coins. You have not seen your coins or held them. So they are really not yours.
Trust in these Pozi scammers. Is a Major problem. People need to wake up. Really wake up.
Isn’t there any legalities to follow in order to claim our coins/money invested?
There might be if BaFin actually did anything about Ponzi schemes tied to Germany. But alas.
The German BaFin is a toothless tiger. A ridiculous authority with ~ 2,800 employees that has never worked effectively.
The best example is the scandal with WireCard and an estimated total damage of 3.2 billion euros.
I am left with nothing and definitely no answers as to what happened to my account and or coins. Really hurts.
I invested pretty much all. Stupid of me. This man has a very seared conscious.
I invested about $600 about two to three years ago and I have been enquiry about my investment but up till now nobody is taking to me, are karatbars still in existence and can i recover my money?
You already know Karatbars is long gone. Sorry for your loss.