A second securities fraud notice has been issued to Paraiba World by the Swiss Financial Market Supervisory Authority (FINMA).
The first Paraiba World fraud alert from FINMA was sent out to Paraiba World Switzerland in March.
The second alert from FINMA concerns the related front business Unique Private Bank LTD.
Neither Paraiba World nor Unique Private Bank LTD are listed in FINMA’s commercial regulator, as per the second warning issued on July 19.
In other countries, this would be the equivalent of a securities fraud notice.
The front firm for Paraiba World, which advertises itself as a financial alternative, is Unique Private Bank.
According to the Mwali International Services Authority, Unique Private Bank has a banking license.
But the Banque Centrale des Comores has certified that the Mwali International Services Authority’s licenses are fake.
Paraiba World seemed to be on the edge of collapsing, according to BehindMLM earlier this month.
Paraiba World withdrawal delays reached three weeks as of July 1st. According to what I gather, the delays have still not been fixed.
German, American, and Swiss citizens are said to make up the majority of the victims of Parabia World.
Erich Ely, a German native and former OneCoin fraudster, is the owner of Paraiba World (right).
Ely is attempting to revive the Ponzi scam as Trillant in the wake of the failure of Paraiba World.
To turn Paraiba World’s losses into Trillon Coin and ride off into the distance appears to be the plan.
Trillant is partnered with “Unique Crypto LLC,” as far as I can tell. This is a copy of the arrangement between Paraiba World and Unique Private Bank’s shell firm.
On July 18, FINMA issued a securities fraud alert for Unique Crypto LLC.
German authorities have not taken any action against Ely and his Ponzi schemes Paraiba World and Trillant, except from BaFin issuing a securities fraud warning in the latter half of 2020.