New Zealand’s FMA has issued a securities fraud warning against Karatbars International.

As per the FMA’s May 4th warning,

Karatbars International GbmH, Karatbit Foundation and associated companies as they are not registered companies or financial service providers in New Zealand.

The FMA has acknowledged Karatbars being promoted in Auckland and Christchurch, and cautions the public against investing in the company.

Following last years KBC token pump and dump cash grab, things have been pretty quiet over at Karatbars.

There was talk of a KBC fork reboot but that doesn’t seem to have materialized.

Given KBC is dead, I assume the FMA has observed the pyramid recruitment side of Karatbars.