Freebay has been added to New Zealand’s Monetary Markets Authority’s Karatbars Worldwide securities fraud warning.
Freebay launched late final 12 months, after the FMA issued its preliminary Karatbars Worldwide securities fraud warning in Might 2021.
Freebay is a reboot of Karatbars’ failed G999 crypto token Ponzi scheme.
As an alternative of heading up the corporate himself, proprietor Harald Seiz put Karatbars government Jurgen Pulvermuller in cost.
Explaining why they’ve up to date their warning, the FMA writes;
Now we have been made conscious that Karatbars is related to Freebay.
We suggest exercising warning earlier than coping with Karatbars Worldwide GbmH, Karatbit Basis and related corporations as they aren’t registered corporations or monetary service suppliers in New Zealand. Seminars have been held in each Auckland and Christchurch.
Together with Freebay, the FMA has moreover named a bunch of corporations/schemes related to Karatbars.
These embody;
Karatbars Leaders and Traders Pool Worldwide, Karatbars Digital Inventory Change, KC Financial institution Miami, KC Financial institution Hong Kong Gold Buying and selling, Karatbit, KCB Coin and KBC Coin.
Karatbars and its related corporations function illegally the world over. Neither Karatbars or proprietor Harald Seiz (proper) are registered to supply securities in any jurisdiction.
Seiz operates Karatbars from Germany. Aside from BaFin issuing a securities fraud warning in 2019, German authorities have did not take motion towards Karatbars and Seiz.