Switzerland's financial regulator, FINMA, issued a second securities fraud warning related to Paraiba World on July 19th. This new alert targets Unique Private Bank LTD, a shell company Paraiba World uses to simulate a legitimate banking service. FINMA had previously flagged Paraiba World Switzerland in March, adding Unique Private Bank LTD to its warning list after its initial notice.

Neither Paraiba World Switzerland nor Unique Private Bank LTD appear in FINMA's commercial register, which acts as a public record for authorized financial entities. The absence from this register indicates they are not licensed to operate financial services in Switzerland.

Unique Private Bank claims to hold a banking license from the Mwali International Services Authority. However, the Banque Centrale des Comores has previously stated that Mwali licenses are not valid for legitimate banking operations. This renders Unique Private Bank's licensing claims baseless.

Withdrawal delays for Paraiba World investors began around July 1st, stretching to three weeks without resolution. Many affected individuals are located in Germany, the United States, and Switzerland. The scheme's apparent instability suggests it may soon collapse.

Erich Ely, a German national, runs Paraiba World. Ely was previously involved with the OneCoin cryptocurrency fraud. He is now attempting to transition investors to a new venture called Trillant, aiming to convert their frozen Paraiba World balances into a digital asset named Trillon Coin. This strategy mirrors his past operations.

Trillant operates in conjunction with "Unique Crypto LLC," a structure similar to the Paraiba World and Unique Private Bank setup. Recognizing this pattern, FINMA issued a separate fraud warning for Unique Crypto LLC on July 18th, one day before its alert for Unique Private Bank LTD.

Germany's financial watchdog, BaFin, first warned about Paraiba World in late 2020. Despite this early alert, German authorities have taken no public action to stop Erich Ely or to shut down Paraiba World and Trillant within their jurisdiction. Victims can contact the Swiss Financial Market Supervisory Authority (FINMA) directly for information on unregulated financial services.