Patrick Kluivert, Lothar Matthäus and Roberto Carlos. The name and fame of these three former footballers have been abused by the Karatbit Foundation. This German crypto company was ordered by the German financial watchdog to cease their activities. Karat bars are suspected of being a pyramid scheme.
From vacuum cleaners to disrupt the financial system
Karatbars was founded in 2011 by Halard Seiz, a vacuum cleaner salesman, and used the fame of former footballers to recommend a crypto. This of course has the potential to disrupt the financial system considerably.
The company sold tokens that are said to be covered by real gold. Partners could buy these tokens and receive a commission if they could link other partners to themselves and resell the coins.
Real bank and gold mine
To ensure the stability of its currency, Seiz claims that the company has a fully licensed “cryptocurrency bank” in Miami. They would also have a gold mine in Madagascar, worth 900 million euros. Seiz says the mine is called Fort Dauphin, but on miningdataonline it can be found that this mine only contains titanium and zirconium.
In addition, Seiz claims to have raised more than 90 million euros through the sale of KaratGold’s coin (KBC), the corresponding token.
The role of Patrick Kluivert
Kluivert and Carlos are also present in the video report of the meeting in Amsterdam (visible from 2:47). The Dutchman says: “This is a new community, a new world, this is going to be very big. Karatbar and the cryptocoin are the future. I hope everyone will join this platform. “
But not everyone is optimistic
But … US financial regulators say the German company has no banking license at all in Florida. And Namibia’s financial services call Karatbar was a pyramid system.
The Financial Sector Conduct Authority (FSCA) of South Africa also warns and advises the public to avoid any contact with the company.
Karatbar told English newspaper The Guardian about these allegations: “No customer or partner has ever suffered losses as a result of Karatbars and its products.”
No cause for concern
The company also claims that they have never sold the coin to German customers but that this is a free bonus that they received with other products. This is reminiscent of OneCoin. Officially, this Bulgarian pyramid also did not sell coins, but you got it for free with lesson packages. Teaching packages that cost $ 250,000.
“There is no cause for concern,” Seiz added. “We are on schedule with all our projects. This is only someone who wants to stand in the way of the success of Karatbars. It will not work.’
Kluivert did not see any negative messages
Kluivert later told Het Financieele Dagblad that he was not an ambassador for the project and claimed that he had no business ties with Seiz. He also denied investment in the currency.
“I was hired by a friend of an international football team from Spain for a guest appearance at a private event in Amsterdam,” said Kluivert, “I did research online prior to the event, but did not see any negative reports.”
We put it to the test and one of the first things you find when you search on Google for Karatbar, is this article on Best Bank from 2014 entitled: “Karatbars scam alert, the AFM warns Dutch people!”
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