Paraiba - BaFin warns against illegal activities

23.05.2022
Paraiba pretends to be a decent market participant for investment advice. However, there are increasing indications that Paraiba is not running smoothly. Reports of telephone terror, rip-offs and investment fraud are piling up from investors about Paraiba. Many have lost their capital invested with Paraiba. All Paraiba investors are wondering if they have been victims of investment fraud? And what can Paraiba investors do if the suspicion of investment fraud is substantiated? Will Paraiba investors get their money back? Does it make sense to file a criminal complaint against Paraiba with the police? Where can I get help with investment fraud?
 

 

Paraiba: Dubious promises on the website www.paraiba.com!
What do the surprised prospective customers have to receive on www.paraiba.com? "Unique Private Bank is a global financial institution that provides customized financial solutions for corporations, businesses, and individuals. However, we make sincere efforts and provide you with various ways to get in touch with us. We also provide you with a great communication experience with our dedicated and good-humored administrative staff. Therefore, we will strive to ensure that you experience unparalleled customer satisfaction in all the services we provide to you. Privacy is another important component of our work and other important aspects. The information our customers enter on our website is encrypted with 256-part SSL encryption. Therefore, our website is completely secure. The information cannot be altered during transmission between your program and the bank." This is just a snippet of the suspect assurances that interested parties can find on Paraiba's website. None of these lofty assurances from Paraiba have been fulfilled. Unpleasantly, the suspect business practices rather provide for unhappy investors and bad experiences!

 

Paraiba: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the Paraiba makers is that the website does not contain an imprint. Thus, the complete information about the legally responsible operators of the website is missing. If one takes a look at the domain data of the website of Paraiba, there are no references to the operators to be found. However, one learns that the domain was registered with NameCheap, Inc. as recently as 2019-09-16. The real domain owners are hiding behind the Icelandic anonymization service Withheld for Privacy ehf.

 

Paraiba: Who is behind it?
Answering this question will be rather difficult for many investors, as the Paraiba makers do everything to conceal the true circumstances. However, this is nothing unusual. The perpetrators usually operate several of these websites with the same fraudulent business model. These are created in advance, quickly put online, and just as quickly shut down. The top-level domain is often changed to deceive financial regulators and law enforcement agencies. But who is the operator? There is scant information about this on the Paraiba website. The company Unique Private Bank Limited with the business address Bonovo Road, Fomboni, Island of Mohéli, Comoros Union is listed, but the makers of Paraiba cannot be found under this address.

 

Paraiba: Investment fraud - Acquisition
To attract investors, Paraiba's offers are presented in all available media and channels. In most cases, these recommendations are false promises. They upload videos on Youtube to reinforce the deception in which interested investors are convinced with fictitious references. In parallel, an affiliate program is often started to invite others to start promoting Paraiba.

 

Paraiba: Criminal business practices
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Usually, the investors start with a small sum as employment. Beforehand, investors are also often motivated to install remote maintenance software, such as AnyDesk or TeamViewer on their computers, so that assistance can supposedly be provided with the first steps. In many cases, the computer is subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters also frequently gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform to entice the customer to place further high stakes. In some cases, even small sums are returned to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?

 

Paraiba: Repayment of money is subject to conditions
Once in, exit is mostly impossible. Rather, the administrators of the investment scammers tie the repayment of the money to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. If these are settled, it would come to the disbursement of the allegedly obtained profits. The perpetrators send the investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. A clearing with the allegedly obtained profits is never possible. If an investor refuses further deposits, alleged profits are converted by senseless transactions into losses and the customer is maximally damaged. This is not the end of the horror, but investors are permanently confronted with calls from other dubious providers. This indicates that the contact details of the investors are further traded among the investment fraudsters. In the end, a "savior" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course, the "savior" wants a small fee - in advance!

 

Paraiba: Scheme of investment fraud?
Paraiba lacks authorization from a recognized European regulator, such as the UK's Financial Conduct Authority (FCA). It also lacks authorization from the Swiss Federal Financial Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. For this, there is a warning from BaFin dated 18.06.2020. It is not difficult to see that Paraiba is a scheme of capital investment fraud. All investors harmed by Paraiba are advised to consult an investment fraud lawyer immediately.

 

Paraiba: Where are the fraudsters active?
Unfortunately, the illegal activities of Capital Swiss were not limited to the English-speaking world. Because Capital Swiss addresses German-speaking investors as well, it is only a matter of time until the defrauded investors of this speaker group also come forward. A look at the list of regulators is recommended before any financial commitment to reduce the risk of becoming a victim of investment fraud.

 

Paraiba: Investors want their money back!
The circumstances are far from as hopeless as they appear. The aggrieved investors can take countermeasures and demand their invested money back. As of now, it is unlikely that the Paraiba investment fraudsters will be apprehended shortly, but there is still reason to hope. Hope because the money flowed through accounts provided by reputable banks. These banks demonstrably failed to check the investors' deposits, some of which were large and therefore subject to controls, and their onward transfer for legality. Such delays enabled the investment fraudsters to carry out their criminal activities in the first place.

 

Paraiba: They want their money back! How does it work?
Equipped with this knowledge, no investor would have gotten involved in business with Paraiba. Now the only alternative left for the defrauded is to try to recover the misappropriated money. Many investors cannot even imagine that there is any real chance of ever seeing their money again. Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering." When investment fraudsters collect money, the crime of money laundering is committed. Financial institutions must take action against money laundering. This is where one starts with good chances of success. Essential questions should be clarified in advance. What was the destination of the funds misappropriated by Paraiba? Is there a possibility that the aggrieved investors will get back the money they invested with Paraiba? What precautions are now obligatory? A lawyer specializing in capital investment fraud can best answer such questions.

 

Paraiba: Who can help?
What to do in case of investment fraud? What kind of investment fraud help can Paraiba victims hope for? Paraiba victims can ideally find the help they need from an experienced investment fraud attorney. He or she will be able to take care of your Paraiba case both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading is also a possibility because he is also familiar with the methods of fraudulent brokers, such as Paraiba.

 

Paraiba: Follow the money!
The internationally active investor protection law firm Resch Rechtsanwälte has been investigating such abuses in the gray capital market for over 30 years. The way of the Paraiba is from there nothing new. Over the decades, Resch Rechtsanwälte has developed an effective range of instruments for tracking down the stolen funds and tracing the money flows. In times of the Internet, it is becoming more and more complicated to make funds disappear. The sooner investors follow the money trail, the better their chances of recovering the capital they have invested. Above all, those who have been harmed by Paraiba must react promptly.

 

RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of Paraiba and want to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.