Turkey’s Customs and Trade Minister has declared Kairos Technologies to be a pyramid scheme.
The announcement was made after over six thousand complaints were filed with the Ministry, with Kairos Technologies now the subject of an official investigation.
Complaints against Kairos Technologies increased in density last year, culminating in 6502 complaints filed to date.
Most of the complaints are in regards to Consumer Protection and accuse Kairos Technologies of masquerading as a legitimate MLM company.
According to Turkish law, Kairos Technologies would be classified illegal if
a sum of money or property was exchanged between participants in the system under a condition that promised money or property when other participants were found to join the opportunity.
Among other things,
BehindMLM’s September 2015 review of Kairos Technologies
found the company paid a percentage commission on the recruitment of new affiliates.
As per Turkish law;
The establishment and promotion of Pyramid selling systems is prohibited.
The Customs and Trade Ministry
seeks to establish
whether Kairos Technologies and its local promoters have operated in violation of the law.
“(Steps have been taken) to the audit (Kairos Technologies and) examine (it) under the relevant legislation”, said Trade Minister Bülent Tüfenkci.
In related news, Slovakian authorities recently
issued their own warning
against the company.
Stay tuned…
🤖 Quick Answer
What is the status of Kairos Technologies in Turkey?Turkey's Customs and Trade Minister has officially declared Kairos Technologies a pyramid scheme following over 6,500 complaints filed with the Ministry. An official investigation is underway to determine whether the company violates Turkish regulations regarding illegal MLM structures and fraudulent financial exchanges among participants.
What are the main complaints against Kairos Technologies?
The majority of complaints allege that Kairos Technologies operates as an illegal multi-level marketing scheme while presenting itself as legitimate. Complainants claim the company violates consumer protection laws by conditioning financial rewards on recruitment of new participants rather than legitimate product sales or services.
What legal criteria define an illegal pyramid scheme in Turkey?
Under Turkish law, a system is classified as illegal if money or property is exchanged between participants conditional upon promised returns when new participants join. The structure must prioritize recruitment-based compensation over genuine commercial activity or product
🔗 Related Articles
- Direct Mail Pro Review: Peter Wolfing’s 2019 pyramid scheme
- Philip Han under criminal investigation, condo raided in Brazil
- AO Smith USDT Review: Stolen identity “click a button” Ponzi
- AQR Quantify Review: Quantitative trading “click a button” Ponzi
- We Share Abundance shifts to only paying out recruiters