Karatbars International cease & desist in Germany finalized

BaFin has finalized its cease and desist order against Karatbars International.

BaFin, Germany’s top financial regulator, i
ssued Karatbars with a cease and desist
back in late 2019.

BaFin finalized the order on April 12th ordering Karatbars, operating as Karatbit Foundation, a Belize shell company,

to stop and wind up the electronic money business Karatbit is conducting in Germany based on the issuance of the “KaratGoldCoin” without the necessary licence.

Karatbars International and associated companies are owned and operated by Harald Seiz.

After a very
public meltdown
in late 2020, Seiz spent the first half of 2021 repairing his damaged reputation on social media.

In June 2021 Seiz announced a
Karatbars International reboot
, centered around a “Lifebase” shitcoin.

Seiz later deleted the announcement. As far as I know neither the reboot or Lifebase eventuated.

In late 2021 BehindMLM caught wind of
renewed attempts to resurrect Karatabars
.

As of yet nothing has eventuated from that discourse either.

🤖 Quick Answer

What did BaFin order Karatbars International to do on April 12th?

Who owns and operates Karatbars International?
Karatbars International and its associated companies are owned and operated by Harald Seiz, a businessman who previously faced public criticism following a significant meltdown in late 2020.

What initiative did Harald Seiz announce in June 2021?
In June 2021, Harald Seiz announced a Karatbars International reboot centered around "Lifebase," a cryptocurrency project designed to revitalize the company's operations following reputational damage from previous

🔗 Related Articles

- 6 more piracy streambox sellers arrested in the UK
- Maxizone Touch MLM scam arrests in India
- PGI Global’s UK shell company shut down by High Court
- Ame Global Ponzi scheme busted by Vietnamese authorities
- Amway India CEO William Scott Pinckney arrested