Paraiba World has received a securities fraud warning from Austria’s Financial 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 carry out banking transactions in Austria that require a licence.”

This is the equivalent of a securities fraud notice in other jurisdictions.

BehindMLM reviewed Paraiba World earlier this month. Based on the company’s business model, we concluded it was a daily ROI bitcoin Ponzi scheme.

Paraiba World is run by CEO Erich Ely (right) out of Germany.

In June 2020 BaFin, Germany’s top financial regulator, issued a securities fraud warning against Paraiba World and Ely.

Paraiba World’s current website statistics, as provided by Alexa, suggest the scam is primarily targeting victims in Honduras and Switzerland.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *