Hype project Karat: review of commercial offers and customer feedback
Reimagining “Karat”: Financial Pyramid Review
Researchers from Jewelry House have developed an enhanced fraud scheme called “Karat”. In a short period, they managed to accumulate a large sum from deceived investors, although they received many negative reviews. How is the scam conducted on the karat.jewelry platform and where do the invested funds disappear to? Let’s delve into our review.
The scammers from Karat conduct their activities following the principle of successful B2B jewelry, but with serious flaws. Unlike the largest financial pyramid in Ukraine, “Karat” lacks stores, precious stones, and a genuine representative, confirming the fact that it survives solely through a fake marketplace and enthusiasm.
The scammers claim to have years of experience, but in reality, the domain karat.jewelry has only been in existence for 8 months (since June 15, 2020), which explains the low number of reviews.
Judicial information appears more intriguing. According to data, the protagonist of our review is subordinate to the company “KARAT-INTERNATIONAL”, registered at the address: Voronezh Region, city of Voronezh, Derevensky Lane, house 24, room II, office 1.
Although the micro-enterprise is engaged solely in the production of jewelry, it has no right to extract money from the wallets of trusting clients.
Exposing the “KARAT-INTERNATIONAL” Holding
The charter capital of “KARAT-INTERNATIONAL” does not exceed 17,000 rubles, raising questions about the authenticity of million-dollar revenues loudly claimed by the scammers.
Karat is a second-rate scam, operating in violation of laws. The Central Bank of the Russian Federation has not reacted to their activities, indicating unjustified claims about cashback and certificates.
Despite the small number of reviews about the scammers, it becomes evident that the “Karat” support inadequately fulfills its functions. How can one contact the company’s administration when only a fake email address is available (support@karat.jewelry)?
Testing the Official Karat Website
The administrators’ motto for “Karat” is “cheap and angry”. The single-page website does not live up to promises of high income. The scammers hastily launched the platform, limiting it to stock images and minimal information.
The fraudsters actively promote their social networks. The Karat page on Instagram is followed by around 30,000 users, but the number of likes on posts is minimal.
Investment Plans in Karat
The scammers promise high cashback (up to 88%), but reviews indicate that no one manages to even recover their own investments.
There is an online store on the platform with a wide range of products, but the images of jewelry are only virtual.
By purchasing goods on the market, users receive bonuses for 52 weeks, but this is only on paper.
The scheme works as follows: a user buys a chain for $150, provides the money to the scammers, who invest it in production, then sell the chain to other clients with a 300% markup, returning part of the profit to the initial investor. This raises suspicions of fraud.
The pyramid survives on new participants, hence a bonus program with vouchers and certificates is active on the platform. According to the profitability calculator, with investments of $100 in a year, one can earn $244.
Reviews of Karat: Comments Analysis
Karat’s aggressive marketing campaign has led to reviews about the scam that has once again intruded into the lives of trusting citizens.
The results of the pursuit of easy money have been dismal for investors.
Profile of the Fraudulent Pretenders of Karat
Based on reviews, Karat is an unsuccessful heir to Jewelry House, which disappeared due to quarantine restrictions, taking clients’ funds with them.
The administrators of Karat do not hide the fact of their previous involvement under another name. After rebranding, they assured that they would resume payments after fixing technical issues. But the miracle did not happen. Users were deceived and a new financial pyramid was launched. Charlatans dreamed of becoming the new B2B jewelry but failed in all aspects. The lack of stores, representatives, actual offices, and communication means exposes the true intentions of Karat.
Collaboration with Karat is a direct path to financial loss. We recommend avoiding this platform!
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Summary of the Karat Review
Try making a purchase on the Karat platform to discover how it turns into a scam. In your account, you will only find investment content instead of a store. Smart clients, demanding to be provided with permits, immediately face a blockage. The same fate awaits other investors.
The administration does not offer clients any chances to increase their capital. Collaboration with Karat is a risky step towards trouble, so we strongly recommend avoiding this platform!
I had high hopes when I started with Karat, but my bubble of anticipation was soon popped by their poor services. The commercial offers were nitpicking and vague, leaving me with more questions than answers. Their customer service was no better, as advisors were both uninformed and inaccessible most of the time. And from what I gathered, my case isn’t unique; several users had similar gripes. I don’t think I would recommend this broker to anyone.