Again in April Karatbars Worldwide associates reported receipt of an electronic mail from AcuaWellington.
AcuaWellington represented they’d “taken over all receivables and liabilities of the Karatbars group of corporations”.
Additional analysis reveals Acua Wellington is in all chance a restoration rip-off. However not your typical restoration rip-off.
As equipped by BehindMLM reader Noel, right here’s the e-mail AcuaWellington despatched out to Karatbars associates onl April twenty eighth;
Pricey Sir or Madam,
as you will have discovered by now, we’ve taken over all receivables and liabilities of the Karatbars group of corporations.
From our information, it seems that you will have receivables from varied providers.
As a result of particular nature of the enterprise and the authorized necessities, we kindly ask you to enter your declare through our web site.
Please fill in all of the fields in order that any claims might be settled in accordance with the Know Your Shopper precept. Your info needs to be acquired by Might 15, 2022. Late submissions could also be rejected. All info is topic to knowledge safety.
We’ll get again to you after Might 15, 2022 with out being requested. Your particulars shall be checked in accordance with banking observe. By sending us your knowledge, you expressly comply with this verify.
Please perceive that communication can solely happen in English.
With sort regards
Acua Wellington Danger Administration
One of many fast purple flags is Acua Wellington demanding private info from associates.
That is an excerpt of a more moderen comply with up electronic mail acquired by one other affiliate;
At the moment, we’re engaged on the essential assortment of claims and calls for of any sort.
Please take into account that we are able to and can solely course of knowledge in accordance with the Know Your Shopper precept.
Those that don’t want to take part on this system will irrevocably lose their claims.
Karatbars Worldwide’s workplace FaceBook web page was deserted in late 2020.
Harald Seiz, proprietor of Karatbars Worldwide, has made no public statements relating to Acua Wellington.
So who’re Acua Wellington?
Acua Wellington operates from the area “acuawellington.com”. This area was first registered in 2019. The present incomplete registration was up to date on January twenty third, 2022.
I imagine that is when the present homeowners took possession of the area, with the present web site going stay someday thereafter.
Regardless of solely present for just a few months, Acua Wellington its “funds are among the many most profitable on the planet.”
Naturally no firm possession info is offered.
What Acua Wellington does present on its web site is a company tackle in New York Metropolis. This ties into Acua Wellington’s representations relating to the SEC, which we’ll get into in a bit.
By the Wayback Machine, we be taught Acua Wellington was arrange by Germans;
That is vital as a result of Harald Seiz is German and Karatbars Worldwide is/was a German firm.
Subsequent we’ve the SEC representations on Acua Wellington’s web site:
AcuaWellington is investor-owned. As an investor-owner, you personal the funds that personal AcuaWellington.
For the 10-year interval ended December 31, 2020, the cash market funds, bond funds, balanced funds, and inventory funds outperformed their peer group averages. Outcomes will fluctuate for different time intervals. Solely mutual funds and ETFs (exchange-traded funds) with a minimal 10-year historical past had been included within the comparability.
AcuaWellingtons can purchase corporations of all sorts and take them public at any time with out going by means of the standard IPO course of. For this goal, AcuaWellington also can kind a particular goal acquisition firm (SPAC), which is topic to the U.S. Securities and Alternate Fee (SEC). Such a SPAC is used to pool funds to finance a merger or acquisition inside a specified time-frame.
As a result of a SPAC is registered with the SEC and it’s a publicly traded firm, most of the people can purchase its inventory earlier than the merger or acquisition happens.
It is a load of finance bro waffle that has nothing to do with Acua Wellington or Karatbars Worldwide.
Our duty is mirrored in our distinctive possession construction, our customer-focused tradition and our dedication to moral rules.
AcuaWellington is owned by its personal funds, which in flip are owned by fund shareholders.
Acua Wellington itself isn’t registered with the SEC. It is a red-flag for a corporation representing it’s US-based and happening about shareholders.
Versus having something to do with “personal funds” or shareholders, Acua Wellington is the truth is only a shitcoin reload Ponzi scheme.
From the sounds of it AcuaCoin is an ERC-20 shitcoin. These take a couple of minutes to arrange at little to no price.
AcuaCoin is pegged to ethereum, with Acua Wellington claiming it’s additionally “hedged through purely company belongings.”
For apparent causes, I’m skeptical of an organization barely just a few months outdated run by individuals unknown having vital company belongings – if any in any respect.
As of but there’s no funding alternative related to Acua Wellington. That’s most likely coming as soon as they determine they’ve obtained as a lot ID paperwork as they’re going to get by means of KYC.
As above, Acua Wellington has set a July fifteenth cutoff date for associates to supply ID paperwork to them.
Personally I’m not satisfied Karatbars Worldwide was offered off. Acua Wellington has German roots and Seiz has been making an attempt to get a brand new Karatbars shitcoin off the bottom since KBC collapsed in 2019.
Acua Wellington is a Karatbars Ponzi reload scheme run by individuals unknown. It isn’t based mostly within the US and anybody handing over ID paperwork is doing so to a third-party of unknown origins.
That Harald Seiz has gone into hiding and never publicly addressed Acua Wellington says all of it actually. This isn’t how authentic companies function.