Paraiba World has acquired a securities fraud discover from the German regulator BaFin.
As per BaFin’s investigation earlier this 12 months, Paraiba World operated by way of Paraiba World and NeoMoc World LTD.
Each had been represented as Hong Kong shell firms. As famous in our current Paraiba World evaluate, Hong Kong seems to have since been scrapped for shell incorporation within the Comoro Islands.
BaFin’s securities fraud discover was issued on June 18th.
It confirms that neither Paraiba World or CEO Erich Ely (proper) are registered to supply securities in Germany.
Ely, a German nationwide, is believed to run Paraiba World from inside Germany itself.
Since BaFin’s warning, Paraiba World seems to have centered its advertising efforts outdoors of Europe.