Karatbars International has received a securities fraud notice from the Securities Commission of the Bahamas.

As per the SCB’s 19th March notice;

It has come to the attention of the Commission that entities referred to as KARATBARS INTERNATIONAL GmbH, KARATBARS INTERNATIONAL, KARATBIT FOUNDATION, KARATBARS BAHAMAS, KARATBIT may be conducting activities that are either registrable/licensable or illegal under one or more of the Acts.

The Commission hereby advises the public that none of these entities or their agents/representatives are registered with/licensed by the Commission.

Additionally, none of the aforementioned entities have made the prerequisite applications to be registered/licenced by the Commission.

Therefore, any registrable/licensable activity conducted, in or from The Bahamas, by these entities and agents/representatives is in violation of one or more of the Acts.

The SCB is the Bahamas’ top financial regulator. The above notice is the equivalent of a securities fraud warning in other jurisdictions.

The SCB’s securities fraud notice applies to Karatbars International GmbH, Karatbars International, Karatbit Foundation, Karatbars Bahamas and Karatbit.

The SCB’s notice follows increased Karatbars promotional efforts across the country.

The Commission is advised that KARATBARS INTERNATIONAL GmbH, KARATBARS INTERNATIONAL, KARATBIT FOUNDATION, KARATBARS BAHAMAS, KARATBIT has conducted several meetings in The Bahamas for members of the general public that have been labeled as investment seminars.

Members are invited to participate via conference, social media, and word of mouth. In addition, members are asked to recruit persons to join the unregistered program.

The aforementioned entities are allegedly promoting “Karatbar activities”, with the promise of the possibility of earning large payouts.

Karatbars is not registered to offer securities in the Bahamas, or anywhere else in the world.

Last we checked in there wasn’t much going on in Karatbars.

Owner Harald Seiz (right) was having a meltdown on YouTube, following a split with former business partner Josip Heit.

Seiz has since deleted his meltdown videos.

Now Karatbars is competing with Heit’s GSPartners. It’s a race to the bottom in search of new bagholders to offload worthless V999 and G999 tokens onto.

Like Karatbars, GSPartners is also not registered to offer securities in any jurisdiction.