Paraiba World has acquired a securities fraud warning from Austria’s Monetary Market Authority.
The FMA’s warning pertains to Pariaba World, cited as a Hong Kong shell incorporation.
The FMA warns Paraiba World is “not entitled to hold out banking transactions in Austria that require a licence.”
That is the equal of a securities fraud discover in different jurisdictions.
BehindMLM reviewed Paraiba World earlier this month. Based mostly on the corporate’s enterprise mannequin, we concluded it was a day by day ROI bitcoin Ponzi scheme.
Paraiba World is run by CEO Erich Ely (proper) out of Germany.
In June 2020 BaFin, Germany’s high monetary regulator, issued a securities fraud warning in opposition to Paraiba World and Ely.
Paraiba World’s present web site statistics, as supplied by Alexa, counsel the rip-off is primarily concentrating on victims in Honduras and Switzerland.