In Bogotá, the Karatbars company that came to Colombia in May 2019 and that offered investors and entrepreneurs returns in cryptocurrencies with backrest in oro physical through mini ingots that would be delivered to the domicile of the investor, appears to be a ponzi scheme.
In a newspaper report Time of Colombia, it is detailed as legal professionals, doctors and other trades were captured by the company that promised dividends in a cryptocurrency that was backed by physical gold, but also, if they attracted more people to the business, they would be creditors of other products such as satellite cell phones and special laptops.
Apparently, entrepreneurs and investors overlooked some signs of the business that made it suspicious, however many decided to invest in this company.
The delivery of a preloaded cards of MasterCard with the company logo to withdraw the profits of the investments made, they are part of the apparatus used by Karatbars to attract investors to your company.
In May of this year, the New Zealand Financial Markets Authority issued a statement in which it warns that this company as well as other subsidiaries are not legally registered in that country, so extreme care is recommended when doing business with these companies .
The statement reads as follows:
“NAME OF THE ENTITY: Karatbars International GmbH, Karatbit Foundation and associated companies, Freebay
TAMBIÉN CONOCIDOS COMO: Karatbars Leaders and Investors Pool International, Karatbars Digital Stock Exchange, KC Bank Miami, KC Bank Hong Kong Gold Trading, Karatbit, KCB Coin y KBC Coin.
WEBSITES: https://www.karatbars.com/, http://dev.goldstandardbank.group/index.html#
EMAILS: ceo@karatbars.com, contact@goldstdandard.com, partners@goldstdandard.com, press@goldstdandard.com
PHONE: +49 (0) 711/128 970 00
REASON FOR WARNING: We advise caution before dealing with Karatbars International GbmH, Karatbit Foundation and associated companies, as they are not New Zealand registered companies or financial service providers. Seminars have been held in both Auckland and Christchurch.
We have been informed that Karatbars is associated with Freebay.
The following foreign regulators have warned the public about Karatbars:
BaFin (German Federal Financial Supervisory Authority)
Financial Sector Conduct Authority (FSCA), South African regulator
British Columbia Securities Commission
Autorite des Marches Financiers (AMF), Quebec
Bank of Namibia (BoN)
For his part The communiqué is circulating from Germany calling for extreme care with companies related to Karabit as follows: “Karatbit Foundation: BaFin issues cease and desist order to stop and immediately liquidate unauthorized e-money business in Germany
As of October 21, 2019, the Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin (German Federal Financial Supervisory Authority) issued a cease and desist order to the Karatbit Foundation, Belize, to stop and liquidate the electronic money business that Karatbit is taking place in Germany on the basis of the issuance of the “KaratGoldCoin“without the necessary license.
By law, the order is immediately enforceable, but it is not yet final.
Specifically, people who have trusted Karatbar in Colombia, seem to have fallen for a scam that involves the crypto world. The reality is that the mechanisms of fraud and risks in investments are always there, so it is always necessary to do a thorough investigation of possible projects or possible companies before making any investment.
The Colombian newspaper report indicates that at least 400 people are affected by investments in this company, and that investments range from 4 million to 200 million pesos.
In May 2019, when the company landed in Bogotá, it did so at the hands of the founding CEO Harald Seiz, with a presumptuous entry as detailed in the published report.
Because the company was supposed to be based in GermanySome of the investors are planning to go to that country to get answers about the investments they made in the company.
Now in all swindle There are aspects of certainty that precisely generate the state of trust that allows the investment of those who decide to do so. The delivery of a prepaid card from the MasterCard consortium, and the effective withdrawal of cash from the alleged profits, creates a credible expectation that the business is operating in accordance with the law.
In a country like Colombia that is also depressed by inflationary fluctuations, in addition to the characteristics of the local economy, investment in a real and tangible asset such as gold arises as a not inconsiderable opportunity to secure an investment in an asset historically stable and valuable.
The virtual currency in which it was expected to make a profit is Karatgold Coin (KBC), that since it has registered in CoinMarketCap It can be seen that on July 7, 2018 it started with a value of USD 0.008 per unit, obtaining a historical maximum price on July 3, 2019 reaching a price of USD 0.12 cents.
Source: CoinMarketCap
Currently the value reported by the CoinMarketCap website is USD 0.0014 per unit, which evidently represents an obviously abysmal drop in the investments made by those who had trusted the company.
According to the report, it is possible that cell phones and laptops have arrived in Colombia, but customs procedures have not allowed them to be released and therefore, the seizure has not allowed their delivery, which in any case could be True, but the company’s market indices are not encouraging for those who have invested in it.
Erika Piñero, who responds as the legal representative of Karatbars Colombia SAS, in addition to ensuring the customs seizure of the equipment, argued that the mini ingots are also there and that is why they have not been deliveredIt has also indicated that the complaints and concerns that have been made to the company from Colombia would be transmitted to the headquarters in Germany.
The reality is that in Colombia, affected investors think of grouping together to try legal actions that allow them to recover at least the capital that has been invested.
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