More bad news for Kairos Technologies as Turkish Officials label it a Pyramid Scheme
You may have noticed that Kairos Technologies is getting a lot of hype and attention these days. Several regulators have been reporting issues with Kairos Technologies, with the latest one being Turkey.
You might have had some friends in Network Marketing approach you about Kairos Technologies, or you may have seen it on social media.
I want to let you know, first of all, that I am NOT promoting Kairos Technologies as my own business opportunity. I am not an affiliate or distributor.
I have gathered here all the facts about Kairos Technologies in my Kairos Technologies Review – now you can learn all you need to know about it.
Is Kairos Technologies really a legit business? Or is it a Pyramid Scheme like Turkey is reporting?
Is Kairos Technologies a safe business to join?
Let me show you in my review of Kairos Technologies.
Exactly What Is Kairos Technologies?
It has been a tough few months for Kairos Technologies. After numerous investigations into the company in countries like Austria, Belarus, Lithuania, Hungary, Slovakia and Estonia, the noose is finally starting to tighten. It was only last week that Austrian authorities determined that the company was breaking regulations by using a holding company based in the country to pay funds to affiliates, and now the regulators in Turkey have drawn their conclusions about the Ponzi company.
Launched in 2014, Kairos Technologies offered an MLM opportunity based upon the provision of secure web based services such as webmail, VOIP, and cloud storage. The problem was that these services were only available to paid up affiliate members (at costs ranging from $125 to $2777) and the true purpose of the company was to recruit new members to their compensation plan. They offered huge annual returns on investments (around 250%) alongside various referral commissions, bonuses and profit pools. With no sources of revenue apart from membership fees, the plan was clearly funding the ROI’s from subsequent affiliate payments and falling square within the category of being a Ponzi scheme. The secure web services were overpriced for what was being offered, and threw up a great deal of skepticism when one of the conditions of membership, that you gave them access to 320GB of local storage space for up to 10 hours per day, raised questions about the actual level of security they could be providing. The fact that they were paying out the ROI’s on an annual basis meant that it would take a long time for affiliates to notice anything was wrong; their account figures would be showing an increase but that wouldn’t necessarily manifest itself when an withdrawal was attempted.
Regulatory authorities began investigating the company after receiving many complaints about its operations and concerns of the future liabilities that it was accruing, and have started to intervene to try and shut things down. The step by the Austrian financial regulators made it illegal for them to pay affiliates from an account that they held there in a shell company, and the latest decision by Turkish authorities has banned anyone from promoting the company in any way.
The intent of their investigation was to determine whether the company was a pyramid scheme, and they have taken swift action. In their press release, the Turkish Customs and Trade Ministry said in regards to Kairos Technologies’ compensation plan
“the reward for bringing new members to the system is kept at a higher level than rental income, and members are indirectly encouraged to gain new members to the system rather than to obtain rental income from the product packages they buy”
This adheres with the definition in Turkish law of a pyramid scheme, which is an illegal enterprise in Turkey, and this judgment makes any promotion of Kairos Technologies illegal, subjecting those doing so to possible prosecution. The case has also been referred to the Public Prosecutor’s Office where they will decide whether to take the matter further with the company owners.
This is a big deal for Kairos Technologies, as traffic from Turkey constitutes about 26% of their activity (according to Alexa), which makes it by far the most engaged country with what they are offering. With all of these problems, it surely can’t be long until the company ceases operations- watch this space to see what happens next!
Is Kairos Technologies A Scam?
If you have heard that Kairos Technologies is a scam, then you’ve come to the right place to find out the truth.
What’s the truth – is Kairos Technologies a scam?
Conclusion For My Kairos Technologies Review
I definitely hope you have found value in my Review of Kairos Technologies.
I went into a lot of detail so that you can make a proper decision about whether you want to join or not.
If you do decide to proceed with Kairos Technologies, make sure you take the time to learn how to market yourself!
My training below can help you with that.