Karatbars International owner Harald Seiz is gearing up to promote what sounds like a new business opportunity.
The marketing carrot being dangled is unpaid commissions and shipment of non-existent gold.
Since KaratBars and its V999 scheme collapsed, prompting Seiz to have a meltdown last year, not much has been happening.
Karatbars received two regulatory warnings this year, from New Zealand and the Bahamas.
The only other update of note was Seiz announcing a LifeBase shitcoin spinoff back in June.
Ultimately LifeBase didn’t go anywhere and fizzled out quickly.
That brings us to Seiz’s out of the blue December 4th email. Sent, I believe, to anyone who ever created a Karatbars International account.
Seiz ignores his meltdown and LifeBase and instead claims;
The last 12 months were marked by reorganization and securing your values.
You were able to follow how state authorities and media descended on Karatbars and tried to destroy everything that had been built in a decade.
Rather than just admit Karatbars’ crypto misadventures was a short-lived Ponzi scheme, Seiz blames regulators for, well… regulating.
And of course the media for reporting on it.
What follows is a clear misunderstanding of regulation;
When I realized that neither courts nor “official” institutions could provide protection, and if they did, these procedures would take at least five years, new, unassailable solutions had to be found.
Or y’know, you could just stop running a Ponzi scheme. Neither court or “official institutions” are there to protect Ponzi scammers from regulators.
Next Seiz addresses unpaid commissions and the fictional gold he led Karatbars affiliates to believe they owned.
With the help of a strong team, international contacts and tireless work, we are now able to offer a solution that conclusively resolves not only outstanding gold shipments, but also the issue of outstanding commissions.
Through strong partnerships of regulated companies and worldwide connections, we have direct access to financial and commodity markets.
This will put us back among the top performing companies as early as the New Year.
Um, what?
How does “partnerships of regulated companies and worldwide connections” reboot a collapsed Ponzi scheme? And generate revenue to pay owed commissions? And address Karatbars’ regulatory issues?
While whatever companies Karatbars may partner with might be regulated, that does nothing for Karatbars’ own regulatory compliance.
Things get even more bizarre as Seiz lays out what happens next.
If you expect Karatbars to deliver gold or have commission requirements, please register on the V999 platform immediately.
Please use only the email address you used at Karatbars.
This will allow us to quickly and easily not only make an inventory determination, but also guarantee that assets will be secured in a timely manner.
Of course, you will also take into account that an audit of your claims must be carried out by an external, independent auditing company.
This will be done quickly, straightforwardly, and competently.
Your assets will be included in the international listing after the audit.
Why do Karatbars International affiliates have to provide Seiz with the details he already has? And what is the audit for? And who is doing the auditing?
Also what the heck is an “international listing”? And what does it have to do with owed commissions and Karatbars’ regulatory issues?
So many questions.
You can then decide whether your values should be converted into bitcoin, Ethereum, euros, dollars or another currency.
Of course, you can also continue to trade your gold option in gold. Should you wish to have the physical gold delivered, we will of course provide this within the scope of the law.
The gold never existed and somehow owed commissions are going to materialize out of thin air?
I am convinced that this solution is perfect for everyone.
By taking into account international requirements and regulations, but also by completely reorganizing, we were able to find ways that are safe today in a constantly changing financial scene, even in the future.
I might be off on this but, reading between the lines, it sounds like Seiz has sold the Karatbars database off to a third party.
What he’s actually requesting is affiliates to validate the data, so the third-party can verify accounts in Karatbars’ database aren’t made up.
Not everyone is going to submit details, but if enough do then that will likely be satisfactory.
Or Seiz will get paid based on how many affiliates resubmit their information.
Again, I could be off but that’s how this is reading. None of it makes any sense otherwise.
Of course, we could have provided more comprehensive information.
We did not want to do that, if only for security reasons and because of the ongoing proceedings against individuals and companies who thought they could defraud Karatbars. This fight continues.
That’s a dig at Josip Heit if I’m not mistaken. It seems Seiz is still bitter about Heit splitting from Karatbars and going off to launch his own Ponzi scheme, populated primarily with former Karatbars affiliate investors.
Oh and the undisclosed “security reasons” excuse for Seiz’s email making no sense doesn’t cut it.
If this wasn’t some shady deal cut with anonymous third-parties, other than to protect the interests of Harald Seiz, what securities reasons could there be?
In summary, none of this passes the sniff test. Which, if you’ve been following Karatbars collapse and subsequent fallout, isn’t surprising.
My guess is we’ll learn more about whatever Seiz intends to launch early next year.
That’s assuming this isn’t yet another hairbrained scheme that doesn’t go anywhere.