Turkish Customs and Trade Ministry has issued an official statement to label Kairos Technologies a Ponzi Scheme.
The decision was said to be taken after the Turkish Customs and Trade Ministry conducted and intense investigation into the activities of Kairos Technologies.
The declaration of Kairos Technologies as a Ponzi Scheme means that it is illegal for anyone to either promote the scheme or get involved with any of its dealings.
Kairos Technologies has not issued any official statement on the latest development.
See the full statement below:
In the event that our Ministry has recently received applications in the form of Kairos Technology or Kairos Planet titles, the headquarters of the system is the United Kingdom, and our country has branches, agencies, dealers, partnerships and so on. It has been found out that there are a lot of people presenting themselves as distributors or representatives of the company in the various communication platforms including social media and internet environment besides that there is no representation by name and that there is a lot of people presenting this system in our country and initiating, Has been expressed in the announcement of our Ministry dated 15/07/2016 that the inspection program is being examined within the framework of the Law on the Protection of Consumer and the provisions of the related legislation.
In this scope, Raporda prepared the announcement of sales system of Kairos Technologies Limited Company in Turkey within the scope of the Law on the Protection of Consumer No 6502 of the Ministry of Inspectors and prepared on the basis of the audits carried out before those who were found to have provided new members to be included in the system;
In the company’s sales system, the reward for bringing new members to the system is kept at a higher level than rental income, and the members are indirectly encouraged to gain new members to the system rather than to obtain rent income from the product packages they buy, A typical pyramid system formed as a system of expectation of earnings which is very difficult to realize due to the fact that the income of those who get more, the income of the members of the lower arms of the system are transferred to the members in the upper levels of the system, the progress of the career can be provided and the other members behave according to certain conditions. Have been found.
In relation to the said testimony, it is stated in the seventeenth paragraph of Article 77 of the Law no. “5237 dated 26/9/2004 dated 26/9/2004 on initiating, organizing or disseminating meeting, e-mail or many other people’s favorable methods for the promotion of pyramid sales system contrary to Article 80 of this Law or promoting the spread of such a system for commercial purposes The relevant provisions of the Turkish Criminal Code shall apply. “In accordance with the provision, the relevant Chief Prosecutor of the Republic has been found guilty of the offense.
It will be publicly honored.