Top earner Wayne Nash’s marketing film claims that the Paraiba Ponzi scheme is closing in on half a billion dollars in total funds raised so far. Investors in the United States account for a sizable chunk of that total.
Paraiba is an easy Ponzi scam to understand. If you put up to $49,000 into bitcoin, you’ll earn a daily return of 0.3 percent. Every day, you’ll earn 0.5 percent on your $50,000 investment. Bitcoin is accepted as a form of payment by Paraiba. A company-wide internal exchange system called Unique Exchange (unique-exchange.co) facilitates this.
Trading cryptocurrencies is ostensibly how Paraiba gets its ROI. Paraiba World has never supplied authorities or investors with audited financial reports, in breach of securities law in any jurisdiction in which it seeks investment. Consequently, there is no external revenue source for Paraiba.
Paraiba’s only strategy is to reinvest the money it receives from investors to pay out dividends. Paraiba’s fraudulent investment comes with a recruitment-based remuneration plan. In order for Paraiba to survive, it needs to constantly attract new employees. Wayne Nash hosted a Paraiba marketing webinar on January 19.
In the webinar, Nash promoted the Ponzi scam to prospective recruits using the money he made in the Paraiba back office. There were 432,248 investor accounts with Paraiba as of January 19th. 219 accounts are under his direct supervision.
New recruits at Paraiba are given the option of investing across numerous accounts. In April 2020, Nash signed up and invested in Paraiba. 100 dollars on the 22nd and 900 on the 24th May 25th, $3550 One of Paraiba’s first investors is Nash. Over the course of his time at Paraiba, Nash has personally attracted 87 new investors. They’ve put in a total of $458,744 so far.
“One individual approached me with the idea of investing $1 million. Let’s get started with a $500,000 investment and see what happens.” (laughter) In addition to recruiting his own team, Nash has a network of 7402 investors to support him. Nash’s data reveals a total withdrawal of $525,978 from his $4550 initial investment (click to enlarge both screenshots).
Since then, Nash says he’s taken out more than $600,000 in cash. “Despite earning $698,000, I’ve only rolled back (reinvested) $50K of it. Not even close. I’d estimate that I’ve withdrawn more than $600,000 into my own bank account. And it’s grown to a little over $50,000.” Nash is currently withdrawing about $6500 per day from Paraiba as of January 2022. When it comes to bitcoins, Nash says his uplines are taking out tens of thousands of dollars each month! “My sponsor has a monthly income of $175,000 thanks to me. He has a wealthy backer who pays him $275,000 per month.” As a whole, the Ponzi scheme has netted $407,239,660 since Nash’s arrival at Paraiba in 2012.
There is a total investment of around ten million dollars higher than the worth of Nash’s backoffice, he claims. Approximately $417 million would be spent on this. There are currently 30 million bitcoins flowing into Paraiba each month, according to Nash. By the end of April, Paraiba will be a Ponzi scheme worth half a billion dollars.
Erich Ely, a German national and a former OneCoin scammer, runs Paraiba (right). Ely hasn’t yet fled to Dubai, the MLM scam center of the world, where Paraiba holds promotional events. He doesn’t have any good reason to do it.
In Germany, the discovery of Paraiba was made rather quickly. In June 2020, Germany’s main financial regulator, BaFin, issued a warning about the scam’s potential for securities fraud. In February 2020, Austria issued a warning about the possibility of fraud in the Paraiba stock market. Erich Ely has not been dealt with by either Germany or Austria, despite the fact that Paraiba recruitment in both countries has dwindled.
Wayne Nash is well aware of this reality. Even BaFin, Germany’s equivalent of the Securities and Exchange Commission (SEC), is in Austria… Because Paraiba isn’t a recognized financial institution in 2020 they respond, “Oh well.” There you go. “What’s the point?” (laughter).
As a result of Germany’s continuous inaction, Paraiba has grown into a Ponzi scheme worth about $500 million. Recruitment in Germany and Austria had already ceased. Unexpectedly, Honduras had become a recruitment source. Recruitment in Honduras has likewise decreased since then. According to Alexa, Switzerland (32 percent), the United States (21 percent) and Russia (14 percent) are the top three sources of traffic to Paraiba’s website. Switzerland (48 percent), the United States (46 percent), and Vietnam (24 percent) are the top three countries that visit Unique Exchange via Alexa (6 percent ).
Because it’s an exchange, you can now wire money to the exchange. But Paraiba happens to own the exchange. Because they own it, Paraiba has put in the work and is now part of the exchange… There has been no action taken against Paraiba by Swiss or US authorities to far. The primary target audience for Wayne Nash’s Paraiba webcast was American investors.
Despite the fact that the Ponzi scheme is being widely advertised across the United States, Nash continues to deny that the company has any presence in the country. They’re not even trying to break into the US market. Nobody wants to open the market up. “Yes, you can join…” is what they’re basically saying. It isn’t really a US-centric corporation, to be honest.
In reality, only a small percentage of persons… Is it like that in Dubai? How many people are there in Dubai? The majority of them could communicate in German. There were only around twenty or forty Americans in attendance, if my memory serves me correctly. However, the vast majority of people who tuned in to Nash’s webinar were considered to be American citizens. “Just after” Nash was brought on board, Berdj Ghazarian made an investment in Paraiba. Does the US administration have any plans to tinker and tinker? Nash cuts him off, but Ghazarian’s question is crystal clear.
There are a few things the US government can do. There are several examples of this, such as: In the United States, if you are advertising this, which is against the law, Paraiba would first expel you. Anything you post on social media will be deleted. Anywhere in the United States or any other country, you are not authorized to promote this. Only personal recommendations and word-of-mouth are used… International firms own a majority stake in this company. In the same way that there is no Germany, there is no Austria.
Despite the fact that the company’s headquarters are in Germany… This currency is under American control. Okay? As a result, this company only accepts and sends bitcoins… In addition, they have seventeen lawyers, some of whom are based in the United States, who ensure that they are always in compliance with all applicable laws and regulations.
There is no SEC registration for Paraiba, Erich Ely, or Wayne Nash. When something goes wrong in either the U.S. or New Zealand, they can just announce they’re no longer doing business there. It doesn’t matter if they’re operating in the United States or Austria or Germany; they’re not controlled there.
In the United States, Austria, and Germany, securities are heavily regulated. Because Paraiba has not registered with financial regulators, it is operating and soliciting investment illegally in each of the three jurisdictions. Nash’s talk of regulatory compliance is, of course, just lip service. No, Ponzi schemes and securities fraud don’t bother him. “At $550,000, we’ve had a few folks show up.” After five months, they’ve recouped their entire investment and are earning upwards of $100,000. I’m referring to a year or so ago. That’s like knowledge from a year ago or anything like that.
Over $100,000 a month is still a lot of money for them. Let me know if you know of any Ponzi schemes that pay out $130,000 a month if you invest $4000 into them, and I’ll get in on the action. A solid Ponzi scam, I’d say.
In 2015, MyAdvertisingPays has recently made the announcement that it was pulling out of the United States marketplace. When the Ponzi scheme collapsed, this was considered as the beginning of it. Nash, an investor in MyAdvertisingPays, appeared to threaten everyone with legal action. Expect a slew more lawsuits to be filed in the near future over this issue.
In the face of slander, MAP is not going to sit idly by. To be clear, I am a supporter of MAP and actively work to spread the word about how it has the potential to improve the lives of many people. MyAdvertisingPays cut all ROI rates within 24 hours of Nash’s comment. Till September 2016, MyAdvertisingPays was barely able to keep up, and then the company officially went out of business.
According to rumor, Nash is a Canadian national. According to us, Nash has been a “Japanese resident” since 1985. The first MLM Nash was involved with was Dubli, which he joined in 2008.
Meta Utopia- Crook Review
A few days ago, we put out its review of Meta Utopia.
“Metaverse” MLM crypto Ponzi scheme that isn’t very interesting on its own.
As part of our research, we found a link between Nicholas Coppola and the man who started the Ponzi scheme.
Or rather, he did it through an Instagram story that has since been deleted:
Coppola wasn’t happy about being linked to Meta Utopia in public, it turns out. He only wants to hide the fact that he is a crypto-bro Ponzi scammer.
Today, Nicholas Coppola joins the DMCA Wall of Shame.
Over the past 24 hours, “Dincer Odabasi” from “Copyright Support” has sent us two emails. Nicholas Coppola’s emails were sent on his behalf.
Copyright Support says on its poorly made website that it will
Negative or damaging news that can be found on the Internet and in Google search results should be taken down for good.
In his first email, Odabasi tries to pull the old “right to be forgotten” scam.
Because of the right to be forgotten and because of the privacy clause, we want the content to be blocked.
We tried to get in touch with the website that posted the content, but we didn’t hear back. So, we give you the content and ask you to turn it off.
As everyone knows, according to the first paragraph of Article 9 of Law No. 5651 on the Regulation of Broadcasts Made on the Internet and Combating Crimes Committed Through These Broadcasts, if they can’t get to it, they can send a warning to the hosting provider and ask that the content be taken down.
Again, the second paragraph of the same article says that “the content and/or hosting provider must respond to requests from people who say their personal rights have been violated by the content of an online broadcast within twenty-four hours at the latest.”
We want the case that was filed on our behalf to be taken care of. Because of the European right to be forgotten and the privacy of private life, we have the right to limit access to content.
Please note that we’re asking you to take down the content because we’ve tried to reach the owner but haven’t heard back. That’s why we want and need you to take it down.”
This is a form letter that con artists send out. I know that because Odabasi put the same notice to Amazon from another email about a different website and client (ruhroh GDPR fail) into the body of the email he sent me.
In any case, the “Right to be Forgotten” law in Europe is used by scammers to hide their pasts, no matter how good the lawmakers’ intentions may have been at first.
The Right to be Forgotten is not part of EU law, so we don’t recognise it. Also, it takes four days from the date of publication until a right-to-be-forgotten takedown notice is sent.
Odabasi went on to say that Turkish law had something to do with the US, which was not true.
Due to the Right to be Forgotten and the USA Legal Content Removal Request Pursuant to Law No. 5651, we can’t take down the content we told you about because it’s in the Constitution.
“The Right to be Forgotten and the USA Legal Content Removal Request” is not a thing, even if that sentence makes no sense. It’s not true at all.
Turkey passed Law No. 5651 in the year 2020. It only happens in Turkey and has nothing to do with the United States.
Odabasi sent another email a few hours after the first one. This time, he threatened to take action because of copyright issues.
“We want you to remove any content that reveals personal information about our representative.
If you don’t get rid of the news content, we will file a copyright claim with your hosting company, Google.
I’d like you to put the story away, please.
TEAM OF SUPPORT FOR COPYRIGHT”
As our Policy says, we often use “third-party logos and images,” which is allowed by US copyright law through “fair use.”
We don’t need permission from the people who own the rights to the images we use in our MLM news and reviews. Period.
The DMCA takedown process is being abused when fair use isn’t taken into account and a fake DMCA is filed. Not only will it not work, but the person who submitted it is lying.
Even though it’s clear that Copyright Support doesn’t care about the law, it’s still important to point out their hypocrisy.
Scam businesses like Copyright Support depend on the fact that the publisher or service provider they are after doesn’t know what they are doing.
Nicholas Coppola has publicly linked himself to Meta Utopia and is involved enough to be close to the Ponzi scheme’s founder, who has not yet been named.
It is not against any US law to publish this information with proof attached.
Update, July 2, 2022: Dincer Odabasi is now committing twice as much DMCA fraud as he was before.
Odabasi sent Google a “court order” on June 28 that says the same thing: “It’s against the law to search for scammers!” Stupid, but it also says this:
Based on the privacy clause of private life and the court document we will send you, we want the content to be taken down from publication and blocked from access.”
Odabasi is saying that a Turkish law is a “court document” that keeps scammers from telling the rest of the world. Oh dear.
Laetitude- Crook Review
Investors such as Laetitutde and Swapoo are circumspect on issues affecting investor wallets and active investments.
According to a Latitude News report dated August 13th, You have gotten one or two emails from Swapoo in the past several days, which also affects our Laetitude members.
Due to the continued strong relationship between Swapoo and Laetitude, we can guarantee that these changes will not affect your Laetitude accounts. Latitude will continue to operate as usual.
The alterations made by Swapoo will have an effect on the wallet and the bots. However, we are aware that wherever there are obstacles and closed doors, new doors will emerge to provide opportunities for greater success.
Swapoo is merely adjusting to the ever-changing regulatory environment and market situations.
The details of the e-mails sent are kept confidential. I have not encountered any examples in nature.
Regarding “evolving regulatory landscapes,” Laetitude is a Ponzi scheme operated by Swapoo.
David El Dib operates Laetitude from Dubai, the center of MLM fraud. Swapoo is run by Dave Martin, who is from the Philippines.El Dib and Martin have both established themselves on the BitClub Network.
The investigation by the Department of Justice found BitClub Network to be a $722 million Ponzi scheme. The founders of BitClub Network were arrested in 2019.
El Dib and Martin commit securities fraud and operate their own Ponzi scheme through Laetitude and Swapoo. The regulation of securities is not novel. For decades, every nation with a financial market has regulated securities fraud.
The Ponzi fraud announced a remedy for lost Swapoo wallets in a follow-up “Laetitude News” post dated August 26;
As you are likely aware, Laetitude no longer utilizes Swapoo for secure wallet services. As a result, we have recently implemented the ability to fund, purchase, and withdraw directly within Laetitude.
In light of this, we would like to encourage you to login and withdraw your balance as soon as possible, and to continue withdrawing your balance as your compensation earnings increase.
Laetitude lacks the two-factor authentication security offered by Swapoo, so it is essential that you protect your account with a formidable password. Again, what is occurring behind the scenes is kept secret.
The only clue I could locate was a query posted two weeks ago on Swapoo’s most recent Instagram post.
Swapoo has not published any new social media updates since July 30. This date also marked the last Facebook update posted by Laetitude.
The lack of visitors to both Laetitude and Swapoo suggests that the Ponzi scheme is running out of money to pay investment withdrawals.
The Philippine Securities and Exchange Commission is one of the most active securities regulators worldwide.
It is unclear whether they have anything to do with Swapoo’s issues.
Whatever else is occurring, it is rare for wallets to be abruptly shut off and placed up as unsecured in-house assets.
Keep up to date on any future developments.
GSPartners- Crook Review
GSPartners has dropped its claim of harassment against Chris Saunders. Saunders is the owner and operator of the YouTube channel Grit Grind Gold, which he uses to critique and report on the GSPartners Ponzi scheme.
In late January 2021, Saunders was sued for harassment by owner Josip Heit and promoters Michael Dalcoe and Antonio (Tony) Euclides Menesis De Gouveia.
Heit and the GSPartners Plaintiffs alleged that Sunders’ videos about the Ponzi scheme were defamatory.
Additionally, Heit took offense when Saunders pointed out his position in Karatbars International’s collapsed KBC Ponzi scheme.
GSB Gold Standard Corporation AG, Josip Heit, Michael Dalcoe, and Tony De Gouveia submitted a dismissal stipulation on July 29.
Christopher Saunders, the defendant, executed a declaration in connection with the aforementioned case on July 29, 2022.
Plaintiffs GSB Gold Standard Corporation AG, Josip Heit, Antonio Euclides Menesis De Gouveia, and Michael Dalcoe, by counsel and with the signature and agreement of counsel for Defendant Christopher Saunders, stipulate to the dismissal without prejudice of all claims in this matter pursuant to the Saunders’ Declaration.
The aforementioned stipulation from Saunders proves that he was granted permission.
Mr. Ovidu Toma in relation to the Plaintiffs’ assertions and declarations. Since January 2020, Mr. Ovidu Toma has provided me with evidence of Mr. Harald Seiz’s alleged involvement in Karatbars’ wrongful conduct.
“Ovidu Toma” refers to Ovidiu Toma, the former Chief Technology Officer of Karatbars International.
Today, Toma serves as the CEO of CryptoData. Romania-based CryptoData sells encryption hardware.
To return to Saunder’s assertion: I was aware, based on first-hand knowledge of facts and documents, that any alleged wrongdoing committed by Karatbars in relation to its Miami crypto bank and the issuance of KBC/KBC tokens was committed by Karatbars’ CEO, Mr. Harald Seiz, and that said wrongdoing was committed prior to any affiliation between Karatbars and GSB/Mr. Heit.
This is an odd concession to provide. Heit was the public face of Karatbars’ initial excursion into crypto-asset fraud. In an April 2019 interview, Seiz is referred to as a “major investor and board member” of Karatbars International. In Dubai, Karatbars was selling a “blockchain phone” at the time. When challenged about his remarks on the occasion, he responded, and I quote, ” You mentioned the KBC coin.
You stated that it is probable that it is one kilogram of gold. Is this truly a possibility? Heit reacted. Yes, of course it’s feasible. Nobody believes that many individuals perceive, at the appropriate moment, that they can join us.
We currently have a market valuation of approximately $300 million as of the previous week or two weeks. And now there are about a billion of us.
Is it not yet understood?
And when the mainnet is implemented, which will occur very soon, within a few months we will have a market capitalization of over $200 billion. After months of Heit and Seiz promoting Karatbars’ KBC, the KBC Ponzi coin dropped 62% following the hype event on July 4, 2019.
Heit, not Harald Seiz, was sent to address and explain the collapse to irate investors. KBC continued to leak throughout the subsequent months until it was eventually abandoned.
Heit had cashed out, left Karatbars, and launched his own Ponzi offshoot, GSPartners, before the end of 2019. The GSPartners Ponzi coins have performed no better than those of KBC.
G999 is supported by wash trading, which I believe is steadily depleting GSPartners’ second Ponzi scheme, LYS. G999 is being washed at approximately 0.002413. At $66.78, LYS continues to drain.
GEUR was launched earlier this month as a result of the continuous failure of G999 and LYS to take off. GSPartners and Heit symbolize the euro-pegged GEUR currency. It is thought that GEUR was developed because GSPartners investors no longer desired to hold G999 and LYS.
GEUR does not exist outside of GSPartners as of the publication date. GSPartners uses GEUR to support its most recent 300% ROI Ponzi scheme, metaverse certificates.
In the event that GSPartners and Saunders achieved a settlement, it has not been made public. Other than wrongly saying that Heit was not involved in the Karatbars KBC scam, Saunders has not recanted any of his GSPartners-related statements.
The court authorized the GSPartners plaintiff’s Stipulation of Dismissal on August 2nd. This concludes GSPartner’s harassment lawsuit against Saunders.
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