Karatbars fraud warnings issued in Germany & South Africa

Regulators in Germany and South Africa have issued fraud warnings pertaining to involvement in Karatbars Worldwide.

In Germany Karatbars has caught the eye of the Federal Monetary Supervisory Authority (BaFin), the nation’s high monetary regulator.

In a November eleventh press-release, BaFin introduced it had issued Karatbars with a stop and desist on October twenty first.

On the identical day BaFin issued it’s warning, the Monetary Sector Conduct Authority in South Africa issued a securities fraud warning of its personal.

The FSCA claims it

it was informated that Karatbars Worldwide GmbH is has been providing investments to clients through WhatsApp.

Karatbars Worldwide GmbH relies in Germany and isn’t authorised to render monetary recommendation to middleman providers in South Africa.

Each regulatory warnings come as affiliate buyers notice they have been duped by Karatbars’ latest KBC ICO.

Particulars of Karatbars’ cryptocurrency providing have been first reported again in February 2018.

Following a extremely promoted hype occasion again in July of this 12 months, KBC adopted the standard MLM altcoin trajectory.

Within the lead as much as the occasion, Karatbars proprietor and CEO Harald Seiz promised buyers they’d be capable of trade 100 BC for 1 gram of gold.

That, together with the standard representations of KBC mooning, by no means occurred.

KBC has predictably dumped and is at the moment publicly buying and selling at simply over two cents.

Seiz and Karatbars high affiliate promoters are believed to have taken in thousands and thousands throughout KBC’s ICO.


Replace twenty sixth April 2022 – BaFin has finalized its stop and desist order in opposition to Karatbars.