5 thoughts on “A Karatbars International Review – Is it Legit or Another Gold Scam?

  1. As an ordained minister and a seasoned networker of over 30 years who has personally earned over $3 million by working a business from home, over the internet & phone – it is deeply disturbing to see a blog like this with so much deception in it.

    1. The writer claims to be writing a “brutally honest review” but he does not even put his name on the article. What is brutally honest is that the writer is trashing Karatbars for the purpose of making himself appear to be smarter than Harald Seiz (the owner of Karatbars) so you will sign up with him in his other business. Now that is the brutally honest truth. Once you click on the link so you can sign up with this writer, it then appears that the person behind this writing is Frank Lam Sheung, at least according to his supposed back office screen shot.

    2. Frank claims he is “not affiliated with any of the companies I review” but this is not true, because when you click Frank’s link on this page, he is an affiliate with his company “Wealth Affiliate” that he is trying to solicit you into.

    3. Frank claims “I do not add any of my opinion in this review” – oh my, is it possible for him to tell a bigger lie than this? Frank repeatedly interjects his opinions and his lack of research and his lack of the facts. Examples by Frank:

    “There seems to be a bit of confusion” – not if you had the research skills of a 7th grader, you would not be confused.

    “The company hypes” = opinion

    “It fails to mention any exact time frame for this global crash” = totally dishonest, because no on can foretell the future, and certainly Frank cannot foretell the future.

    “I’m not really sure what makes their gold better” = OPINION and no research by Frank.

    “I wouldn’t take their word for it” = OPINION. Educated people do their own research (something Frank did not do). Many educated people have saved over a hundred grand in Karatbar Gold.

    “It isn’t exactly clear…” = OPINION and since Frank repeatedly admits that he does not understand what he is criticizing, no one should believe what he says. You see there are phone numbers posted for Karatbars and he could have called the company for the answers or at least called a number a high ranking Karatbar affiliates .. but Frank did not.

    “I cannot personally verify” = then you should not say or write anything until you do verify. Thus Frank admits that he is writing his opinions and his opinions are not based upon evidence, but rumors and gossip.

    etc. etc.

    Frank uses an OLD version of the “Karatbar International Review PDF” – which shows either he is intentionally deceitful or his research is that of an amateur.

    Frank claims that Karatbars has “7 ways to earn money” but a basic review shows there are NINE.

    Frank claims that Karatbars has 7 unilevel ranks, but a basic review shows there are FOURTEEN.

    Frank propagates a rumor that “some people complaining about never getting paid or getting shorted.” Such undocumented gossip is only fit for the garbage. Notice Frank did not mention 1 person’s name. I know of over 1,000 affiliates in Karatbars, and if people were not being paid or being shorted it would be all over the internet, but it isn’t. Also, Germany does not put up with financial fraud, and they would have shut down Karatbars and sent the CEO, Harald Seiz to prison if this rumor was true. Sad that Frank would spread lies like this.

    Frank plays up a big deal about the “warning” by a few leads in the province of Quebec, Canada called the AMF. Frank gives no context as to what happened. A TV station asked a man (one man, who was an independent affiliate) to appear on their TV show. This affiliated answered the questions badly, very badly. Karatbars did not authorize or know anything about this affiliate doing this interview. It was based on that one man’s badly done interview that some of the leaders in the AMF issued that warning. Frank does not mention that NO COURT in Quebec or anywhere has ever issued a guilty charge against Karatbars. Anyone can issue a “warning” or an “accusation” but those are opinions and not evidence of guilt or wrong doing.

    Frank spreads the gossip and rumor by “Stace” that is filled with many false statements also.

    Do you ever notice that no where does Frank state when he interviewed someone at Karatbars corporate for their side of these stories. Is there any wonder why?

    Frank tries to use “guilt by association” as he claims “it is now easy to understand why so many of these gold bar MLMs are shutdown every year.” Wrong again Frank. Karatbars stands on it own, and will be judged on it’s own merits, not the merits of any other company.

    I could write many more pages in rebuttal to Frank’s post above, but this should be enough to show that no one should take Frank’s review as accurate or believable. He is only stating his opinions without serious research and without contact Karatbars to answer the many things Frank admits are unclear to him and that he does not understand.

    • Give me a break Matt.

      Leading in with ordained minister and seasoned networker, is that supposed to make me believe you have some sort of credibility?

      I have personally earned more than you, so does that make me any better than you?

      Stop being silly Matt.

      The writer of this article is a colleague of mine (Adam) and if you just looked under the heading of this post you would have seen his name.

      No one is trying to hide anything from you.

      And the fact that you missed that point, leads me to believe your research skills might need a little work.

      It also makes me think, that you’re affiliate with the company – surprise, surprise.

      Anyway, I’ll let Adam comment on the matter.

  2. Thank you for your comment, Matt.

    Are you willing to point out that you have affiliation with Karatbars International?

    For example, are you a member of leadership or major player in the scam? This information would be most useful.

    1. When I enter Harald Seiz into a search engine, this is what pops up.

    “The Karatbars International Business Opportunity.

    Herr Harald Seiz from Stuttgart, Germany, and his sales rep vehemently deny that Katbars Int’l is an MLM.”

    This is the exact definition of an MLM: “Multi-level marketing (MLM) is a controversial marketing strategy in which the sales force is compensated not only for sales they generate, but also for the sales of the other salespeople that they recruit. … MLM is one type of direct selling.”

    Are your affiliates compensated for all the sales they generate?

    Yes…

    Under Karatbar International Direct Commission section: “Promote Karatbars Marketing Package(s) and earn up to 20% for each new package sale.”

    Do affiliates get compensated for recruiting other people?

    Yes…

    Under Karatbars International Unilevel Bonus section: “As a Bronze Director you need at least 2 lines where one line generates 4,000 points (8,000 Euros turnover) and the other line(s) or rather the rest of your organization generate 2,000 points (4,000 Euros turnover).”

    You create lines by recruiting people and you get promoted based on the number of points that are generating. You get paid more for generating more.

    For Harald Seiz and the rest of the major players, there is no excuse to claim to not be an MLM when it is.

    Just because you say it is not an MLM doesn’t make it true.

    According to law and according to definition, Karatbars Intenational is an MLM.

    So the reason I say that I am brutally honest is for two reasons; one, some MLMs fail to be honest and pose as something they are not i.e. Karatbars International.

    Two, I could care less about the what the founders or major players of a disingenuous company think.

    This is the compensation plan link that I used for information. Notice the 2011-2016 so I didn’t use “old compensation plans.”

    https://www.karatbars.com/uploads/download_documents/CompensationplanExplanation_EN.pdf

    2. The following links are a collection of reviews gathered from simply entering “Karatbars International review” into a search engine.

    http://hotmlmcompanies.com/karatbars-international-review/

    The review was written in 2014 but if you pay attention to the comments, most recently, you will get a much clearer representation of the issues with KI.

    Here is the truth about all MLMs, “Fact is, 95% of the people are gonna lose money, that’s it.”

    This is because the gold is marked up to ridiculous levels.

    Even the author says, “I have nothing against Karatbars, I just thought it was over priced that’s all.”

    3. This is the next article from my Google search: http://factsaboutinternetmarketing.com/karatbars-international-scam-review-not-all-that-glitters-is-gold

    One particular quote that grabbed my attention is “I almost lost a few of my best customers because they thought I lost my mind.

    They literally laughed me out of town, calling me ‘nuts’ for trying to sell them a product that is about 40% over the market price.

    In short, the affiliate program is a joke; an attempt by Karatbars International to shake off the ‘it’s a pyramid scheme stigma’!”

    Ok, that is a lot to digest if you are a potential buyer.

    Of course anyone affiliated with KI will shrug it off as conjecture but these are people that have tried to push KI gold prices to customers and lost business.

    Selling gold at nearly 40% markup is disgusting.

    Yet again, KI leadership and affiliates should be ashamed of themselves.

    4. Here is a list of things that are always integrated into the selling points of gold:
    • The dollar is fiat currency and worth nothing
    • The next depression is coming
    • The economy is going to crash
    • Paper money isn’t real money
    • Save in gold to store real wealth

    Look I get it, a company is trying to make money, there is nothing wrong with that.

    But to prey on people’s economic troubles and fears is nothing less of deplorable.

    I love how all of these gold selling scams always seem to claim that they are legit but can’t even admit that none of these variables are predictable.

    In your comment you even stated this exact point, which is a favor to me.

    Why make this a KI selling point when you yourself said it is unpredictable?

    5. Check this out…”Today, February 15, 2015 the spot price for ONE gram 999 fine gold is $39.50. Katbars adjusted gold value is $65. I am sure this is not a good deal.”

    I have a feeling that the reason you mark up the prices to unimaginable levels is because you are compensating for the price fluxes in gold.

    This way, if the price skyrockets for unpredictable reasons, you don’t lose out.

    http://factsaboutinternetmarketing.com/karatbars-international-scam-review-not-all-that-glitters-is-gold

    6. Here a list of reasons why Quebec AMF is banning KI:
    • Karatbars’ activities are similar to a pyramid scheme;
    • Karatbars already has over 5,300 “affiliates” in Québec;
    • “Affiliates” do not sell products and are essentially promoting Karatbars’ activities, lured by the possibility of earning large payouts;
    • Karatbars and its promoters are promising a return of $15,000 to $136,000 per month, representing returns of between 874% and 2,172%, only 12 weeks after the initial investment;
    • Despite the AMF’s warning, information and investor solicitation meetings are still taking place where potential investors are being told that Karatbars is not under AMF jurisdiction;
    • Some financial sector participants have attended information meetings and have been asked to promote Karatbars’ affiliates program;
    • Contrary to what Karatbars and its promoters state, the company Prosegur does not store gold on behalf of Karatbars investors, raising concerns about the storage of gold purchases;
    • The promoters of the Karatbars investment program are apparently fine-tuning their activities in order to find other investors.
    http://www.lautorite.qc.ca/en/press-releases-2014-corpo.html_2014_karatbars-quebec-activities-covered-by-prohibition-orders01-05-2014-09-3.html

    Don’t try and question my integrity when you are defending a company that is part of a major problem.

    These are serious crimes and not accusations.

    I’m sorry you don’t see it from a customer’s point of view but not surprised either.

    6. Here is a customer comment from a few month ago: “If I go back in time, I wouldn’t of never sign up for the package! Didn’t know that I couldn’t get a refund til months later when I look through some information that I found. No one wasn’t buying into this company, not even my mother. For months I went online and talked and share my referrals and I came back entry. I even listen to those conference calls while I was cleaning up for the man that introduced me to Karatbars to a neutral friend of ours. At this point, I am done with everythin that’s involved with Karatbars. Lucky I only bought the bronze package. I know that I can transfer to another person with a payment agreement but I don’t anyone who would want it. If you know anyone who would want my package, please let me know!!!”

    It speaks for itself.

    If you think that this is just a person that failed at promoting the product, why won’t KI release an Affiliate Sales Report to see how many affiliates are making money and how many are losing money?

    This would help clarify a lot of the problems I see with your scam.

    7. Ok, this is the last point I will make because I am getting bored with your conjecture and ad hominem attacks against me and Frank.

    I am done defending my position of promoting Wealthy Affiliate.

    The company has been around for over a decade and there is no recruitment necessary.

    It has helped thousands of people create their own business and provide them with wonderful training.

    One of the most important factors is that it is FREE to try out and you can even make money without buying a package.

    I also know for a fact that the prices of their training program aren’t marked up by 40%, so this might be a turnoff to you and your kind.

    I am guaranteeing that you cannot find a review that recommends going all in with KI.

    All of the positive reviews that promote the company are from affiliates and it is disturbing.

    Do all 3rd party reviewers a favor, clean up your act and we wouldn’t have to write brutally honest reviews about your scam.

    I am sorry the truth hurts, but it is clear you are defending your company even at the expense of your integrity.

    Karatbars International is lucky to have such a dedicated employee!

  3. I would like to add my contribution to this matter by advising any one who is planning to join or start buying gold from Karatbars not to do so. PLEASE PLEASE DON’T!!!!!!
    I was buying from them when I suddenly noticed that the our local jeweller was selling the same amount of gold for about £70 less in price , that is even with the storage , it was still so much more expensive. Also , when I was about to close my account, they only allowed me to request 9 grams of gold back, everything else behind the decimal point becomes theirs. I do not think this is fair, if they can adjust the amount of gold you can buy by the decimal point, they should be able to give you back everything, after you paid for it, without any hassle phoning or writing back and forth.
    And then there is the membership card they encourage you to buy before you start to purchase gold, quite expensive and non refundable nonsense!

    This is my genuine experience , I do not believe you are gaining anything by buying from them , only making the people who asked you to join rich. some business!

  4. Thank you Frank for this information. I searched the internet just to get a quick review of karatbars before buying into it. Now I know to avoid being scammed. I’ve been scammed badly before and now these reviews, balanced from both karatbars and you Frank and colleague help me decide better.
    Once again, that you Frank. Good bless you!

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