Paraiba - BaFin warns against illegal activities

Paraiba poses as 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 an investment scam? 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: Doubtful promises on the website!
What should the surprised interested parties read on "Unique Private Bank is a global financial institution that delivers tailor-made financial solutions for corporates, businesses, and individuals. We are highly regarded in dealing with unusual asset class situations, creating liquidity, and can assist you in further standard and non-standard investments. And Unique Private Bank performs quickly. However, you can put more trust in a bank that has legal backing, also having staffs and claimed by authorized and moral professionals which means you can trust our organization of giving you the best..." This is just a sample of the suspect assurances that interested parties can find on Paraiba's website. None of these noble assurances by Paraiba have been kept. Unfortunately, the suspect business practices tend to make for unhappy investors and bad experiences!


Paraiba: Hide-and-seek domain entry!
Remarkable for the business practices of the Paraiba makers is that the website does not contain an imprint. Thus, the complete information on the legally responsible operators of the website is missing. If one takes a look at the domain data of the Paraiba website, there are no references to the operators. However, one learns that the domain was only registered on 16.09.2019 with NameCheap, Inc. The real domain owners are hiding behind the Icelandic anonymisation service Withheld for Privacy ehf.


Paraiba: Who is behind it?
Many investors will find it rather difficult to answer this question, as the Paraiba makers do everything they can 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 on the net and just as quickly shut down. The top-level domain is often changed to deceive the financial supervisory and law enforcement authorities. But who is the operator? The Paraiba website gives only scant information on this. The company Unique Private Bank Limited with the business address Bonovo Road, Fomboni, Island of Mohéli, Comoros Union is given, but the makers of Paraiba cannot be found under this address.


Paraiba: Investment fraud - Acquisition
In order to attract investors, Paraiba's offers are presented in all available media and channels. Most of the time, these recommendations are false promises. To reinforce the deception, they upload videos on YouTube in which interested investors are convinced with fictitious references. In parallel, an affiliate programme is often started to incite others to beat the advertising drum for 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 many 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. Investors usually start with a small amount of money. Beforehand, investors are often motivated to install remote maintenance software, such as "AnyDesk" or "TeamViewer", on their computers so that they can supposedly receive help with the first steps. In many cases, the computer is manipulated afterwards and unwanted transactions are carried out. In the process, the investment fraudsters often also gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. Sometimes even small sums are paid back 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 the money will be subject to conditions
Once in, it is usually impossible to get out. Rather, the administrators of the investment scams tie a repayment of the money to further deposits. This is where employees come into play who claim alleged tax debts and commission payments. If these are settled, the alleged profits are paid out. The perpetrators send investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. It is never possible to offset them against the alleged profits. If an investor refuses to make further deposits, supposed profits are turned into losses through senseless transactions and the client is damaged to the maximum. The horror does not end there, but investors are permanently confronted with calls from other dubious providers. This indicates that the investors' contact details are traded on among the investment fraudsters. In the end, a "saviour" regularly calls 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 "rescuer" also wants a small fee - in advance!


Paraiba: Scheme of investment fraud?
Paraiba lacks the authorisation of a recognised European supervisory authority, such as the English Financial Conduct Authority (FCA)or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Similarly, there is no authorization from the Swiss Federal Financial Supervisory Authority (finma) or the  Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. 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, Paraiba's illegal activities are not limited to the English-speaking world. Because Paraiba also addresses German-speaking investors, it is only a matter of time before the defrauded investors of this speaker group also come forward. Going through the list of supervisory authorities is recommended before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.


Paraiba: Investors want their money back!
The circumstances are by no means as hopeless as they appear. The aggrieved investors can take countermeasures and demand their money back. As things stand, it is unlikely that the Paraiba investment fraudsters will be apprehended in the near future, 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 that work?
Equipped with this knowledge, no investor would have entered into 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 a real chance of ever seeing their money again. Definitely yes! There are numerous legal bases to fall back on. The generic term is "money laundering". When investment fraudsters collect money, the offence of money laundering has been committed. Financial institutions are obliged to 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 specialised in capital investment fraud will best answer such questions for you.


Paraiba: Who can help?
What can be done in the case of investment fraud? What help can victims of Paraiba hope for in the event of investment fraud? Paraiba victims will ideally find the help they need from an experienced investment fraud lawyer. He 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 trading lawyer is also an option because he is also familiar with the methods of fraudulent brokers such as Paraiba.


Paraiba: Follow the money trail!
The internationally active investor protection law firm Resch Rechtsanwälte has been investigating these abuses on the grey capital market for over 30 years. The Paraiba way is therefore nothing really new. Over the decades, Resch Rechtsanwälte has developed an effective range of instruments for tracking down stolen funds and tracing the flow of money. In times of the Internet, it is becoming increasingly complicated to make funds really disappear. The faster investors follow the money trail, the better their chances of getting back the capital they invested. Above all, it is important that those who have been harmed by Paraiba react immediately.


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