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Karatbars Scam? Yes It Is In My Opinion!
http://ethanvanderbuilt.com/2014/09/11/karatbars-scam-yes-it-is-in-my-opinion/
"
Karatbars' activities are similar to a pyramid scheme;
Karatbars already has over 5,300 "affiliates" in Qubec;
"Affiliates" do not sell products and are essentially promoting Karatbars' activities, lured by the possibility of earning large payouts;
Karatbars and its promoters are promising a return of $15,000 to $136,000 per month, representing returns of between 874% and 2,172%, only 12 weeks after the initial investment;
Despite the AMF's warning, information and investor solicitation meetings are still taking place where potential investors are being told that Karatbars is not under AMF jurisdiction;
Some financial sector participants have attended information meetings and have been asked to promote Karatbars' affiliates program;
Contrary to what Karatbars and its promoters state, the company Prosegur does not store gold on behalf of Karatbars investors, raising concerns about the storage of gold purchases;
The promoters of the Karatbars investment program are apparently fine-tuning their activities in order to find other investors.
The AMF is pursuing its investigation in this matter. Source Lautorite.qc.ca
"
Karatbars Int'l Scam Review Not All That Glitters Is Gold
http://factsaboutinternetmarketing....nal-scam-review-not-all-that-glitters-is-gold
"Karatbars has already over 5,500 members in the Province of Quebec and the AMF stepped in to "Protect investors from the Karatbar Scam"!
"The Karatbars International Business Opportunity
Herr Harald Seiz from Stuttgart, Germany, and his sales rep vehemently deny that Katbars Int'l is an MLM. I agree, because you would not have to be concerned about what "LEVEL" of the typical MLM Pyramid you are on.
You also would NOT have to worry about what percentage you would get from each of your recruits.
Fact is, however, that you will have to constantly recruit new members in order to increase your sales volume, and increase the amount of money you make.
Harald Seiz created a system that IS NOT a typical, and illegal, PYRAMID SCHEME. But you will not be making money from a commission for the sale of gold, rather from recruiting new members and making money off of their sales.
And that is still a standard MLM to me, no matter how you look at it. Particularly, since you will have to purchase Karatbars packages to qualify for certain bonuses, which generate the income for you and the other members of your sales group.
"
"The Bureau has prohibited Karatbars from directly or indirectly trading in securities under any form of investment covered by the Securities Act issued by Karatbars, whether via the Internet or otherwise. It has also prohibited them from acting as a securities adviser. The Bureau is concerned that, without these orders, the respondents will continue to solicit investors".
"
While we are there let's look at this scam of yesteryear
Family of Eagles
Gold Coin Pyramid Scam
http://www.angelfire.com/tx4/hoaxdetective/scams_03.html
"Essentially the Family of Eagles plan called for individuals to buy 1/10-oz. American Gold Eagle coins as an investment and to also recruit others into the plan.
The coins being sold were authentic American Gold Eagle coins, however, the prices being charged were grossly overinflated well beyond prices charged by reputable dealers nationwide.
"
So no. No thank you Karatbars. No thank you to promoters of karatbars.
Like family of eagle privy coins, I may pick some karatbars at less than spot for amusement in the distant future as a reminder of how gold and fear marketing are sometimes used to drive MLM , but it will be after 'karatbars international' has vanished. In my opinion such schemes are unethical and immoral. Ultimately the bottom layer of suckers will get burnt.
Family of eagles was prosecuted. The coins marked with their privy still surface now and again. E.g Maples Eagles.....
Here is their old video from the 90s
[youtube]http://www.youtube.com/watch?v=IeHytMsD-n8[/youtube]
Pyramid Selling Schemes
http://www.parliament.nsw.gov.au/prod/parlment/hansart.nsf/v3key/la19990623022
"South Australian fair trading experts have identified 52 current and past Australian pyramid schemes. They include: Cash Daily MLM; Christopher Erickson Scheme; Concorde Game, the Plane Game, Golden Aeroplane; Family of Eagles....................."
No Karatbars thank you.
Karatbars Scam? Yes It Is In My Opinion!
http://ethanvanderbuilt.com/2014/09/11/karatbars-scam-yes-it-is-in-my-opinion/
"
Karatbars' activities are similar to a pyramid scheme;
Karatbars already has over 5,300 "affiliates" in Qubec;
"Affiliates" do not sell products and are essentially promoting Karatbars' activities, lured by the possibility of earning large payouts;
Karatbars and its promoters are promising a return of $15,000 to $136,000 per month, representing returns of between 874% and 2,172%, only 12 weeks after the initial investment;
Despite the AMF's warning, information and investor solicitation meetings are still taking place where potential investors are being told that Karatbars is not under AMF jurisdiction;
Some financial sector participants have attended information meetings and have been asked to promote Karatbars' affiliates program;
Contrary to what Karatbars and its promoters state, the company Prosegur does not store gold on behalf of Karatbars investors, raising concerns about the storage of gold purchases;
The promoters of the Karatbars investment program are apparently fine-tuning their activities in order to find other investors.
The AMF is pursuing its investigation in this matter. Source Lautorite.qc.ca
"
Karatbars Int'l Scam Review Not All That Glitters Is Gold
http://factsaboutinternetmarketing....nal-scam-review-not-all-that-glitters-is-gold
"Karatbars has already over 5,500 members in the Province of Quebec and the AMF stepped in to "Protect investors from the Karatbar Scam"!
"The Karatbars International Business Opportunity
Herr Harald Seiz from Stuttgart, Germany, and his sales rep vehemently deny that Katbars Int'l is an MLM. I agree, because you would not have to be concerned about what "LEVEL" of the typical MLM Pyramid you are on.
You also would NOT have to worry about what percentage you would get from each of your recruits.
Fact is, however, that you will have to constantly recruit new members in order to increase your sales volume, and increase the amount of money you make.
Harald Seiz created a system that IS NOT a typical, and illegal, PYRAMID SCHEME. But you will not be making money from a commission for the sale of gold, rather from recruiting new members and making money off of their sales.
And that is still a standard MLM to me, no matter how you look at it. Particularly, since you will have to purchase Karatbars packages to qualify for certain bonuses, which generate the income for you and the other members of your sales group.
"
"The Bureau has prohibited Karatbars from directly or indirectly trading in securities under any form of investment covered by the Securities Act issued by Karatbars, whether via the Internet or otherwise. It has also prohibited them from acting as a securities adviser. The Bureau is concerned that, without these orders, the respondents will continue to solicit investors".
"
While we are there let's look at this scam of yesteryear
Family of Eagles
Gold Coin Pyramid Scam
http://www.angelfire.com/tx4/hoaxdetective/scams_03.html
"Essentially the Family of Eagles plan called for individuals to buy 1/10-oz. American Gold Eagle coins as an investment and to also recruit others into the plan.
The coins being sold were authentic American Gold Eagle coins, however, the prices being charged were grossly overinflated well beyond prices charged by reputable dealers nationwide.
"
So no. No thank you Karatbars. No thank you to promoters of karatbars.
Like family of eagle privy coins, I may pick some karatbars at less than spot for amusement in the distant future as a reminder of how gold and fear marketing are sometimes used to drive MLM , but it will be after 'karatbars international' has vanished. In my opinion such schemes are unethical and immoral. Ultimately the bottom layer of suckers will get burnt.
Family of eagles was prosecuted. The coins marked with their privy still surface now and again. E.g Maples Eagles.....
Here is their old video from the 90s
[youtube]http://www.youtube.com/watch?v=IeHytMsD-n8[/youtube]
Pyramid Selling Schemes
http://www.parliament.nsw.gov.au/prod/parlment/hansart.nsf/v3key/la19990623022
"South Australian fair trading experts have identified 52 current and past Australian pyramid schemes. They include: Cash Daily MLM; Christopher Erickson Scheme; Concorde Game, the Plane Game, Golden Aeroplane; Family of Eagles....................."
No Karatbars thank you.
SilverPete said:
I became aware of 'family of eagles' checking a privy mark on a 1/10 gold maple from a trade. Real coin, but the original purchaser would have been ripped on price. Coins with their privy are bouncing about still.
Multilevel marketing. It used to be domestic cleaning products.
Now dragging down the reputation of PMs *again*.
Sigh.
No thank you to karatbars and all such schemes.
Don't Fall Prey to Insecure Gold Marketing Systems
http://kbi9999scam.blogspot.ie/
"Hello followers,
Many people have requested that I do an insight in to the world of KBI 9999. First of all, I would like to say that a woman who requested me to do an examination of Karat Bars International lost approximately 17, 000 US dollars. From this tidbit of information, I began to do a little more snooping around and have found some interesting information.
Karatbars International is rated by the Better Business Bureau as C MINUS according to the US government. This means that multiple customer have filed complaints and shows that Karatbars International is not an organization to be trusted or an organization that needs any investment of time or money. The origins of KBI lie in Germany which can make it difficult for any American in the US to interpret government records from Germany through legit business practices. If there is any issue in America, then there will be no way to recover funds because it is a German company.
The German government reveals that only 2% of people involved in KBI recieve an income, whilst 98% sit in the dust. They work for the 2% to make money and sacrifice all of the gold and glory. Also, only 90% of costs are used to cover the cost of the business and help earn any type of income through selling Gold in smaller increments. Only 5% of people earn an income that is more than $50 dollars a week. No matter how much your upline is telling you, you have to understand that they are planting dreams into your head to have the idea that there is an EASY way to earn money. But that is not correct. Earning money involves working for it. There is no such thing as EASY money. Remember if it sounds too good to be true, then it probably isn't true. "
SmartyFarty
Member
If it sounds to good to be true, then it probably is.
Good to do your research before buying
Good to do your research before buying