A German court has issued an arrest warrant for Karatbars International founder and CEO Harald Seiz.
While we now know authorities in Stuttgart have been investigating Harald Seiz’s Karatbars Ponzi scheme, no specifics of the investigation have been made public yet.
A
report from SZBZ
, quoting a Feb 13th
paywalled article from Bild
, states;
the court must clarify the question of whether Seiz attracted investors to his gold business and cheated them out of their deposits.
This suggests that prosecutors have presented the court with a case detailing the Karatbars Ponzi scheme.
The report also notes that Harald Seiz, a German national previously living in Germany, has since fled to Thailand.
Seiz has purportedly been corresponding with the court via email. Details of the correspondence have not been made public, but apparently the case has progressed such that Seiz is now a wanted fugitive.
The Stuttgart district court has issued an arrest warrant against the Stuttgart entrepreneur and former Sindelfingen villa owner Harald Seiz.
Karatbars International operated for years as a
pyramid scheme
. The Ponzi reboot integrated cryptocurrency, with
an ICO announced in early 2018
.
KBC eventually launched in July 2019. It
immediately crashed
and Karatbars International itself collapsed by the end of the year.
An integral player in Karatbars International’s Ponzi reboot was Chairman of the Board Josip Heit.
Heit is believed to primarily split his time between Germany and Dubai. Whether Heit is under investigation by German authorities is unclear.
After Karatbars International collapsed Heit went on to launch
GSPartners
, initially a clone of Karatbars International’s Ponzi scheme.
Harald Seiz has tried to reboot Karatbars International multiple times after KBC collapsed in 2019. The last reboot BehindMLM documented was
MineBase
in August 2022.
MineBase’s website remains online. SimilarWeb tracked a dramatic decline in MineBase traffic over the past few months.
In November 2022 SimilarWeb tracked 1.9 million visits to MineBase’s website. That dropped to just 400,000 as of January 2023.
Top sources of MineBase website traffic are Venezuela (20%), Germany (17%), Colombia (10%) and Ecuador (9%).
🤖 Quick Answer
Who is Harald Seiz and what charges does he face?Harald Seiz is the founder and CEO of Karatbars International, a gold investment company. A German court has issued an arrest warrant against him for operating a Ponzi scheme, allegedly attracting investors to his gold business while fraudulently misappropriating their deposits.
Where is Harald Seiz currently located?
Harald Seiz, a German national, has fled to Thailand. He is believed to be maintaining contact with the German court through email correspondence regarding the ongoing legal proceedings against him.
What is the status of the investigation into Karatbars International?
Authorities in Stuttgart, Germany are investigating Karatbars International's operations. While prosecutors have presented the court with evidence detailing the alleged Ponzi scheme, specific details of the investigation remain undisclosed to the public.
🔗 Related Articles
- Gunshots rang out as Karatbars International collapsed
- Mexico releases notorious Ponzi thief Juan Carlos Reynoso
- Carlos Wanzeler “will definitely stay in Brazil”
- Charles Scoville enters Traffic Monsoon settlement negotiations
- GSPartners files harassment lawsuit against Grit Grind Gold