Karatbars Worldwide proprietor Harald Seiz is gearing as much as promote what feels like a brand new enterprise alternative.
The advertising carrot being dangled is unpaid commissions and cargo of non-existent gold.
Since KaratBars and its V999 scheme collapsed, prompting Seiz to have a meltdown final yr, not a lot has been taking place.
Karatbars acquired two regulatory warnings this yr, from New Zealand and the Bahamas.
The one different replace of word was Seiz asserting a LifeBase shitcoin spinoff again in June.
Finally LifeBase didn’t go wherever and fizzled out rapidly.
That brings us to Seiz’s out of the blue December 4th e mail. Despatched, I consider, to anybody who ever created a Karatbars Worldwide account.
Seiz ignores his meltdown and LifeBase and as an alternative claims;
The final 12 months had been marked by reorganization and securing your values.
You had been in a position to observe how state authorities and media descended on Karatbars and tried to destroy every part that had been inbuilt a decade.
Quite than simply admit Karatbars’ crypto misadventures was a short-lived Ponzi scheme, Seiz blames regulators for, effectively… regulating.
And naturally the media for reporting on it.
What follows is a transparent misunderstanding of regulation;
Once I realized that neither courts nor “official” establishments might present safety, and in the event that they did, these procedures would take at the very least 5 years, new, unassailable options needed to be discovered.
Or y’know, you would simply cease working a Ponzi scheme. Neither court docket or “official establishments” are there to guard Ponzi scammers from regulators.
Subsequent Seiz addresses unpaid commissions and the fictional gold he led Karatbars associates to consider they owned.
With the assistance of a robust group, worldwide contacts and tireless work, we are actually in a position to provide an answer that conclusively resolves not solely excellent gold shipments, but additionally the problem of excellent commissions.
Via robust partnerships of regulated firms and worldwide connections, we have now direct entry to monetary and commodity markets.
It will put us again among the many prime performing firms as early because the New Yr.
Um, what?
How does “partnerships of regulated firms and worldwide connections” reboot a collapsed Ponzi scheme? And generate income to pay owed commissions? And deal with Karatbars’ regulatory points?
Whereas no matter firms Karatbars might accomplice with is likely to be regulated, that does nothing for Karatbars’ personal regulatory compliance.
Issues get much more weird as Seiz lays out what occurs subsequent.
For those who count on Karatbars to ship gold or have fee necessities, please register on the V999 platform instantly.
Please use solely the e-mail deal with you used at Karatbars.
It will enable us to rapidly and simply not solely make a list dedication, but additionally assure that belongings will probably be secured in a well timed method.
After all, additionally, you will bear in mind that an audit of your claims should be carried out by an exterior, unbiased auditing firm.
This will probably be performed rapidly, straightforwardly, and competently.
Your belongings will probably be included within the worldwide itemizing after the audit.
Why do Karatbars Worldwide associates have to offer Seiz with the main points he already has? And what’s the audit for? And who is doing the auditing?
Additionally what the heck is an “worldwide itemizing”? And what does it need to do with owed commissions and Karatbars’ regulatory points?
So many questions.
You’ll be able to then determine whether or not your values must be transformed into bitcoin, Ethereum, euros, {dollars} or one other foreign money.
After all, you may as well proceed to commerce your gold choice in gold. Ought to you need the bodily gold delivered, we’ll after all present this inside the scope of the legislation.
The gold by no means existed and someway owed commissions are going to materialize out of skinny air?
I’m satisfied that this answer is ideal for everybody.
By making an allowance for worldwide necessities and laws, but additionally by fully reorganizing, we had been capable of finding methods which can be secure at present in a continuously altering monetary scene, even sooner or later.
I is likely to be off on this however, studying between the traces, it feels like Seiz has bought the Karatbars database off to a 3rd social gathering.
What he’s truly requesting is associates to validate the information, so the third-party can confirm accounts in Karatbars’ database aren’t made up.
Not everybody goes to submit particulars, but when sufficient do then that may possible be passable.
Or Seiz will receives a commission based mostly on what number of associates resubmit their info.
Once more, I could possibly be off however that’s how that is studying. None of it makes any sense in any other case.
After all, we might have supplied extra complete info.
We didn’t wish to try this, if just for safety causes and due to the continued proceedings towards people and firms who thought they might defraud Karatbars. This combat continues.
That’s a dig at Josip Heit if I’m not mistaken. It appears Seiz remains to be bitter about Heit splitting from Karatbars and going off to launch his personal Ponzi scheme, populated primarily with former Karatbars affiliate buyers.
Oh and the undisclosed “safety causes” excuse for Seiz’s e mail making no sense doesn’t lower it.
If this wasn’t some shady deal lower with nameless third-parties, aside from to guard the pursuits of Harald Seiz, what securities causes might there be?
In abstract, none of this passes the sniff take a look at. Which, in case you’ve been following Karatbars collapse and subsequent fallout, isn’t shocking.
My guess is we’ll be taught extra about no matter Seiz intends to launch early subsequent yr.
That’s assuming this isn’t one more hairbrained scheme that doesn’t go wherever.