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Thread: Karatbars, invest in Gold, karatbars.com

  1. #76
    Fendaril is offline Senior Member
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    Re: Great, so I CAN'T earn $40,000 doing one simple task?

    It's still running.

  2. #77
    EagleOne's Avatar
    EagleOne is offline Elite Scambuster
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    Re: Karatbars, invest in Gold, karatbars.com

    I had an interesting conversation with the chief investigator for the AMF in regard to their warning they issued against Karatbars back in 2014. I inquired as to what transpired with the May 25 & 26 hearing at the request of Karatbars International. I was advised this hearing did not take place and was moved to November 9. The sole purpose of this hearing is at the request of Karatbars International to try to convince the AMF they are operating legally, and to remove their warning. I got the impression that the AMF feels this whole hearing is a total waste of time, and Karatbars International is not going to provide any information for them to remove their warning.

    If information we have received is true, there are at least 5 other countries that are looking into Karatbars International as to its legality in their countries. I expect these countries will be issuing warnings, or a cease and desist upon completion of their investigations. Many seem to be deferring to Germany to take legal action against Karatbars International.
    EagleOne
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    Author: "Robbing You With A Keyboard Instead Of A Gun - Cyber Crime How They Do It" available in soft cover and eBook at Amazon.com
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  3. #78
    ribshaw's Avatar
    ribshaw is offline Nigerian Ministry
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    Re: Great, so I CAN'T earn $40,000 doing one simple task?

    Quote Originally Posted by Fendaril View Post
    It's still running.
    I had a discussion with someone on Facebook about Karatbars and he thought it was great. The crux of my argument then as now is why would anyone willingly spend $1500 for something that can be readily purchased for $1000 anywhere else? He obviously didn't see it that way, and thought that $500 mark-up was a blessing if you will as long as KB delivered the gold as promised. In my opinion this model is no different than buying overpriced laundry detergent and energy drinks while trying to convince others to do the same.

    If it isn't shut down by the authorities it could run almost indefinitely. Very little overhead for the real owners since "internet entrepreneurs" expend their resources marketing the scheme to people paying 150% of what they should. Great business model for Karatbars since affiliates overpay up front to buy product KB doesn't even have to hold as inventory.

    I like this model so much, anyone interested can wire me $1250 in turn I will mail them $1000 worth of gold as soon as funds have been verified.
    Last edited by ribshaw; 08-22-2015 at 05:16 PM.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  4. #79
    Fendaril is offline Senior Member
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    Re: Great, so I CAN'T earn $40,000 doing one simple task?

    Quote Originally Posted by ribshaw View Post
    I had a discussion with someone on Facebook about Karatbars and he thought it was great. The crux of my argument then as now is why would anyone willingly spend $1500 for something that can be readily purchased for $1000 anywhere else? He obviously didn't see it that way, and thought that $500 mark-up was a blessing if you will as long as KB delivered the gold as promised. In my opinion this model is no different than buying overpriced laundry detergent and energy drinks while trying to convince others to do the same.

    If it isn't shut down by the authorities it could run almost indefinitely. Very little overhead for the real owners since "internet entrepreneurs" expend their resources marketing the scheme to people paying 150% of what they should. Great business model for Karatbars since affiliates overpay up front to buy product KB doesn't even have to hold as inventory.

    I like this model so much, anyone interested can wire me $1250 in turn I will mail them $1000 worth of gold as soon as funds have been verified.
    You aren't thinking big enough. It would be more profitable if you got me to convince two of my friends to do the same, give me a low discount, in exchange for a $500 override off of money that isn't yours.

  5. #80
    Joe_Shmoe's Avatar
    Joe_Shmoe is offline Senior Scambuster
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    Re: Karatbars, invest in Gold, karatbars.com

    http://goo.gl/bua60ZIs My Advertising Pays a scam? YES!
    Behind MLM review
    If Simon Stepsys or Mark Ghobril are involved it's 100% a SCAM!

  6. #81
    littleroundman is offline Administrator
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    Re: Karatbars, invest in Gold, karatbars.com

    Better late than never, I suppose.

    Just in case someone is hanging in there waiting for Karatbars to live up to the hype:


    BnoMvK.jpg

    The Karatbars thread on the MMG HYIP ponzi forum
    The only thing necessary for the triumph of evil is for good men to do nothing

  7. #82
    stacy532 is offline Senior Scambuster
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    Re: Karatbars, invest in Gold, karatbars.com

    I was always tempted to join this when it came out until you see how they make their money . yes makes no sense to mark something up thats easily available . now if the person running it could buy in volume and sell it at 1 dollor over his cost and to have this great benefit charge a membership fee it might be worth it .. Otherwise ill buy mine from apmex.

  8. #83
    ShmonWiesenthal is offline Junior Member
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    Re: Karatbars, invest in Gold, karatbars.com

    I got this by Skype from a group of very p1$$ed off Karatbars people - hope it serves as a warning -



    Karatbars operates illegally in the United Kingdom. Full Stop! UK Department of Trade & Industry’s 2005 Trading Schemes Guide states the following

    In the first 7 days after you have signed the contract, the scheme can legally bill you for no more than £200 in total. This alone makes the Silver, Gold and VIP package sales illegal. The cheaper Bronze package is just an empty cardboard box, (actually all of the packages are worthless empty card board boxes) so the Bronze package fails the “value for money” rules, while the Silver, Gold and VIP boxes fail the “initial cost” rules.

    You have the right to cancel your contract in the first 14 days after you have signed the contract. (Some promoters may give you a longer cancellation period.) You have the right to return to the promoter anything that the scheme has provided to you, to cancel any service to which you have subscribed and to claim a full refund, provided you have not let the goods deteriorate. Karatbars terms and conditions violate this and several UK rules. If you were not told about this beforehand you may have a claim for mis-selling or misleading/fraudulent activity, making the company liable for a full refund. Contact support@karatbars.com for refund claims, failing which, below are some next steps (UK only)

    UK based Karatbars affiliates may complain in writing to The Consumer and Competition Policy Directorate, The Department of Trade and Industry, 1 Victoria Street, London SW1H 0ET or phone the Citizen’s Advice Bureau on 03444 111 444 and explain your case if you believe you were misled into the Karatbars pyramid scheme. At their discretion, your case may be passed to Trading Standards Officers for investigation. Trading Standards have the power to prosecute and bring criminal charges against the company for mis-representation and unfair trading practices. A case of mis-selling should result in full refund from the company in due course. Karatbars operate a zero refund policy. This is illegal. If you were not warned sufficiently, you may have a case of mis-selling.

    In case you failed to spot the red flags, here is a summary: Karatbars were kicked out of Russia, forced to refund all Russian affiliates and pay an undisclosed regulatory fine. Karatbars are banned in China, the worlds largest gold market. Karatbars are banned in India, the worlds second largest gold market. Karatbars are unable to resolve/close the AMF sanctions in Quebec, Canada. Karatbars now have warning letters issued from the Central Bank of Aruba and the Netherlands authorities.

    Want some more?

    Karatbars are not a member of any direct selling association anywhere in the world. Karatbars are rejected by Bundesverband Direktvertrieb Deutschland or BDD the German Direct Selling Association. Karatbars operate a 2:1 ratio binary compensation plan. This alone makes it a pyramid scheme, regardless of what the so called affiliate leaders claim. Karatbars gold products have no resale value in the open market, unless removed from the packaging, then also, by weight and purity alone, not because of branding. Karatbars rely entirely on internal affiliate purchases and have a negligible external customer base, making it a ponzi scheme. Karatbars has added a range of cosmetic products to appear less ponzi-like, but the added products are just another distraction. The truth is that tens of millions of EURO’s are stuck in binary units inside the system and Karatbars enjoys profits most when over 90% of affiliates fail to convert units into cycle payments. The binary system is designed to act as entrapment and benefit only very few top affiliates. The free member option exists only to divert attention from the primary business which is a paid-affiliate ponzi.

    Finally, AMF’s text reveals a bigger problem. Quote: In its decision, the Bureau held that Karatbars affiliates are investors, that the contracts between the affiliates and Karatbars are investment contracts and that, accordingly, they are subject to the rules the AMF is responsible for enforcing. Unquote. This statement alone puts Karatbars in Financial Regulatory territory, but the company has slipped through several regulatory nets simply for lack of public complaints. Expect several financial regulators to move heavily against this company. Get out while you can.

  9. #84
    ShmonWiesenthal is offline Junior Member
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    Re: Karatbars, invest in Gold, karatbars.com

    can anyone here kindly verify if this makes sense?

    Karatbars operates illegally in the United Kingdom. Full Stop! UK Department of Trade & Industry’s 2005 Trading Schemes Guide states the following:

    In the first 7 days after you have signed the contract, the scheme can legally bill you for no more than £200 in total. This alone makes the Silver, Gold and VIP package sales illegal. The cheaper Bronze package is just an empty cardboard box, (actually all of the packages are worthless empty card board boxes) so the Bronze package fails the “value for money” rules, while the Silver, Gold and VIP boxes fail the “initial cost” rules.

    You have the right to cancel your contract in the first 14 days after you have signed the contract. (Some promoters may give you a longer cancellation period.) You have the right to return to the promoter anything that the scheme has provided to you, to cancel any service to which you have subscribed and to claim a full refund, provided you have not let the goods deteriorate. Karatbars terms and conditions violate this and several UK rules. If you were not told about this beforehand you may have a claim for mis-selling or misleading/fraudulent activity, making the company liable for a full refund. Contact support@karatbars.com for refund claims, failing which, below are some next steps.

    UK based Karatbars affiliates may complain in writing to The Consumer and Competition Policy Directorate, The Department of Trade and Industry, 1 Victoria Street, London SW1H 0ET or phone the Citizen’s Advice Bureau on 03444 111 444 and explain your case if you believe you were misled into the Karatbars pyramid scheme. At their discretion, your case may be passed to Trading Standards Officers for investigation. Trading Standards have the power to prosecute and bring criminal charges against the company for mis-representation and unfair trading practices. A case of mis-selling should result in full refund from the company in due course. Karatbars operate a zero refund policy. This is illegal. If you were not warned sufficiently, you may have a case of mis-selling.

    In case you failed to spot the red flags, here is a summary: Karatbars were kicked out of Russia, forced to refund all affiliates and pay an undisclosed regulatory fine. Karatbars are banned in China, the worlds largest gold market. Karatbars are banned In India, the worlds second largest gold market. Karatbars are unable to resolve/close the AMF sanctions in Quebec, Canada. Karatbars now have warning letters issued from the Central Bank of Aruba and the Netherlands authorities.

    Want some more?

    Karatbars are not a member of any direct selling association anywhere in the world. Karatbars are rejected by Bundesverband Direktvertrieb Deutschland or BDD the German Direct Selling Association. Karatbars operate a 2:1 ratio binary compensation plan. This alone makes it a pyramid scheme, regardless of what the so called affiliate leaders claim. Karatbars gold products have no resale value in the open market, unless removed from the packaging, then also, by weight and purity alone, not because of branding. Karatbars rely entirely on internal affiliate purchases and have a negligible external customer base, making it a ponzi scheme. Karatbars has added a range of cosmetic products to appear less ponzi – like, but the added products are just another distraction. The truth is that tens of millions of EURO’s are stuck in binary units inside the system and Karatbars profits most when over 90% of affiliates fail to convert units into cycle payments. The binary system is designed to act as entrapment and benefit only very few top affiliates. The free member option exists only to divert attention from the primary business which is a paid-affiliate ponzi.

    Finally, AMF’s text reveals a bigger problem. Quote: In its decision, the Bureau held that Karatbars affiliates are investors, that the contracts between the affiliates and Karatbars are investment contracts and that, accordingly, they are subject to the rules the AMF is responsible for enforcing. Unquote. This statement alone puts Karatbars in Financial Regulatory territory, but the company has slipped through several regulatory nets simply for lack of public complaints. Expect several financial regulators to move heavily against this company. Get out while you can.

    (text from Ethan Vanderbuilt's blog Karatbars Scam? Yes It Is In My Opinion! - Ethan Vanderbuilt)

  10. #85
    roundfat is offline Junior Member
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    Re: Karatbars, invest in Gold, karatbars.com

    <B>ONE MORE SCAM FROM MR RYAN CONLEY. MR CONLEY WHERE R THE FUC..IN BARS. MUST HAVE TURNED TO GOLD DUST (SORRY SHIT)</B>

    Hi, I'm Ryan Conley. I am a Wealth Protection Advisor with Karatbars International.

    “Wake up, everyone! The US dollar has a grim future ahead. An article on Forbes.com suggests depositing your money in yen or euros in preparation for when the USD loses value. I have something even better. Why not secure the financial future of your family today with 99.99% PURE 24K GOLD? God’s money, people!"

  11. #86
    Whip's Avatar
    Whip is offline Anonymous. As are you all
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    Re: Karatbars, invest in Gold, karatbars.com

    I think we can drop the 'ka' from the beginning of the name.
    Haven't lost any money to online scams.......results are typical.

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