Validating The Claims
This report is to prove or disprove the claims from the InvestReport reports that were presented on their site during Jun through August time frame. In order to do this we would have to research in detail into all the claims that Investreport has obtain and exposed in order to validate the website for its content and place all the pieces of the KBC project together from the beginning to present. The reports started to appear between the dates of Jun 1 to August 17 2019 as a set of four reports which were posted by an anonymous source on the internet by the title name of Investreport. The reports that were released were to expose what Karatbar’s mine in Madagascar that they claimed ownership of was a deception and that the mining license actually belonged to another mining company. The report also mentioned that the Valuation Report was a plagiarize copy from another company’s works that was used as the valuation of the mine in Madagascar. And that the author of the Valuation Report was Markus Mincker, in which, he is also the author of the Audit Report.
The claims on these reports are very damaging to the Karatbars International business reputation if found to be true. The information within these reports if true exposes Karatbars to actions that are defined only as theft, fraud, copyright infringement, plagiarism, violating the intellectual property and deceptive practices regarding the Mine in Madagascar, Valuation & Audit Reports that was distributed to all affiliates via Karatbars websites and groups. If the whole KBC crypto coin backed by the gold that is allegedly being currently mined from Madagascar which is the backbone of the whole KBC ecosystem that generated revenues for Karatbar’s during their ICO phase for the KBC coin could all be in jeopardy if the information from the Investreport is validated as being true. All could be in jeopardy just like the KaratCoinBank-Whitepaper document Section 2.3.7 Risks related to the KBC FOUNDATION GOLD MINE which states that “the KaratGold Ecosystem and with it the KaratGold Coin as well as the KARATCOINBANK COIN and the KARATCOINBANK WORLD ecosystem could collapse.”
As current holders of the KBC coins since the inception of this project, we noticed the first Red flags occurred when the change to our original promise that Harold Seiz gave regarding the 35% bonus coins. During that time the original promise that was introduced by Harold Seiz was for all the affiliates that held the coins and didn’t moved the coins that were purchased during the ICO phase after the air drops of the coins to the wallet addresses and held them until Dec 25 2018 were going to receive an additional 35%. After that date all affiliates were supposed to receive their bonus coins to their MyEtherWallets addresses on Dec 26 2018 for holding the coins. The new offer that was introduced just two weeks before the 35% bonus end date was when Harold Seiz produced a video with the change to our original offer of having the coins converted to Univals and having to go through all the issues of sending the coins to the Karatbit platform instead of receiving the coins directly to our wallets addresses. This has caused many headaches for many of the affiliates which resulted in Harold Seiz to extend the time required to follow the process of sending the one KBC coin to Karatbit exchange. And for this reason many affiliates lost their bonus coins due to not being able to send the one KBC token to the ETH address that was given in order to confirm the wallets address. And others lost the 35% bonus coins for not following the directions of not moving their coins to a different address before the end date of the bonus 35% promise.
We started to observe other red flags as the months went on regarding the project regarding the mine in Madagascar. It was announced that we were supposed to have PWC perform the audit of the mine and then for some reason later on something had to be changed to the Audit Report. After the change, we noticed that they removed PWC from the Audit Report and nothing was said about it at the time and no real explanation was really given about the change. Then not to long from that date they announced the Audit Report and they released it via the Karatbars own websites. Then came the point of the 100 KBC to 1 gram of gold promise on July 4th Independence day which again Harold Seiz changed the promise from getting 100 to 1 exchange of KBC coins to 1 gram of gold after Independence day to now vaulting the 100 KBC to 1 gram of gold for one year’s time in order to get a bonus for holding the gold in the vault. And if you decided to remove the gold less than a year’s time you would be fined in univals as a flat fee depending on the level you vaulted the gold. Also since the fee is a flat rate not a percentage based then any attempt of removing even a partial amount of the vaulted gold you would incur the same fee. This is based on the information that was introduced in the Skype room by Cherylanne.
The price of the KBC coin started to crash down to under 3 cents after July 4th when the affiliates that didn’t attend the Cape Town event in South Africa back in Jun 8 2019 during Harolds Seiz’s presentation that he gave at that time and learned about the change. This was the time when the promise for the 100 KBC to 1 gram promise was changed to now having to going through the Vault to be kept for a year’s time. After the year only then you will be able to withdraw without incurring a fee or you will have to use the CEM machines to withdraw the cash gold after paying a high extraction fee to withdraw 1 gram of gold. This change was a déjà vu moment just like the 35% bonus coins back in 2018 when all the sudden weeks before the bonus the promise changed weeks before. After the majority of affiliates learned the full details of this change and learned what happened in the Las Vegas on July 4 2019, the price of the KBC started to drop in price. During the event only the people that attend the event were the only ones able to get only one gram of Cashgold for 100 KBC. To make things worse the affiliates also learned that everyone else that didn’t attend the event had to get there gold through the CEMs that have not even come out as of the writing of this report, in addition, to only having to withdraw only 1 gram per day with a high extraction fee of .96 Euro per .1 of gold based on documentation from Karatbars. And last no fiat withdraws with the CEMs that our being sold which is the opposite from what they have in the section “KaratCoinBank World Soft Structure” of the KCB-wp.pdf and Section 1.1 of the KartCoinBank-whitpaper.pdf.
After the crash of the coin Harold Seiz produced a video regarding a Smear Campaign against Karatbars on July 18 2019 which is the purpose of writing this report and another one was produced by Thomas Valet Head of Marketing & Sales on July 26 2019 regarding the claims of an email virus that was sent out to affiliates. The two videos was to prevent any Karatbars affiliates to even look up the information that was provided on the smear sites and also to prevent any affiliate from opening any emails that were sent to them. By doing this Karatbars just put fear to the affiliate’s mind that received the emails from not opening the emails since they may get a virus if they try to click on the email links that was provided within the emails.