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…]
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