Wayne Nash spearheads Paraiba securities fraud across US
A marketing video from top earner Wayne Nash reveals the Paraiba Ponzi scheme is closing in on half a billion.
A large percentage of that appears to have been sourced from US investors.
Paraiba is a simple enough Ponzi scheme.
You invest up to $49,000 in bitcoin, you get 0.3% a day. You invest $50,000, you get 0.5% a day.
Paraiba solicits investment in and pays out returns in bitcoin. This takes place through the company’s internal exchange, Unique Exchange (“unique-exchange.co”).
Paraiba pretends it generates ROI revenue via cryptocurrency trading. In violation of securities law in every jurisdiction it solicits investment in, Paraiba World has never provided audited financial reports to regulators or investors.
Because of this Paraiba has no verifiable source of external revenue. This is by design, as all Paraiba does is recycle invested funds to pay returns.
Attached to Paraiba’s fraudulent investment is a recruitment driven compensation plan. Without constant new recruitment, Paraiba collapses.
On January 19th Wayne Nash held a Paraiba marketing webinar.
In the webinar Nash used his Paraiba backoffice earnings to pitch the Ponzi scheme to new recruits.
As at January 19th, Paraiba has 432,248 investor accounts. Nash himself oversees 219 accounts.
Investing across multiple accounts is a feature Paraiba provides to new recruits.
Nash signed up and invested in Paraiba in April 2020.
- $100 on April 22nd
- $900 on April 24th
- $3550 on May 25th
This makes Nash one of Paraiba’s earliest investors.
Since joining Paraiba, Nash has personally recruited eighty-seven investors. Together they have deposited $458,744.
I had one guy, he wanted to put in a million.
We just told him, just put in $500,000 to start and test it out. (laughs)
In addition to his own recruitment, Nash sits atop a downline of 7402 investors.
Having invested $4550 of his own money, Nash’s presented data shows total withdrawals of $525,978 (click to enlarge both screenshots):
Nash claims his total withdrawals have since exceeded $600,000.
I’ve made $698,000 but I’ve only rolled back (reinvested) $50K of that, not even.
I would say I’ve pulled out over $600,000, into my own wallet under my own control. And compounded in about $50,000.
As of January 2022, Nash is withdrawing over $6500 a day out of Paraiba.
Nash claims his uplines are withdrawing hundreds of thousands of dollars in bitcoin a month.
My sponsor is making $175,000 a month. His sponsor is making about $275,000 a month.
Company-wide, since Nash joined Paraiba the Ponzi scheme has taken in $407,239,660.
Nash claims he’s seen the company-wide investment total, and it’s about ten million more than his own backoffice value. This would come to about $417 million.
Nash states Paraiba is currently taking in around $30 million in bitcoin a month.
At that rate, Paraiba will become a half billion dollar Ponzi scheme by the end of April.
Paraiba is run by former OneCoin scammer and German national Erich Ely (right).
While Paraiba does hold promotional events in Dubai, the MLM scam capital of the world, I don’t believe Ely has fled there yet.
He has no reason to.
German authorities were quick to discover Paraiba. BaFin, Germany’s top financial regulator, issued a securities fraud warning against the scam in June 2020.
Neighbouring Austria issued a Paraiba securities fraud warning even earlier, in February 2020.
While Paraiba recruitment in Germany and Austria tanked, neither country has done anything about Erich Ely.
A fact not lost on Wayne Nash;
Even BaFin, which is like an SEC kind of thing in Germany, in Austria … I think it was like 2020, they say, “Oh well Paraiba’s not a registered or financial institution.”
Well, yeah. So what? (laughs)
Germany’s continued inaction has led to Paraiba growing into an almost half billion dollar Ponzi scheme.
BehindMLM reviewed Paraiba in September 2020. At the time recruitment had already died in Germany and Austria. Honduras had emerged as an unlikely source of recruitment.
Since then recruitment in Honduras has also collapsed. Paraiba has spread to Switzerland (32%), the US (21%) and Russia (14%), ranked as the top three sources of traffic to Paraiba’s website by Alexa.
Alexa ranks top sources of traffic to Unique Exchange as Switzerland (48%), the US (46%) and Vietnam (6%).
Now the exchange in Europe, you can wire money to the exchange – because it’s an exchange.
But the exchange just happens to be owned by Paraiba. So Paraiba has worked, they have integrated with the exchange, because they own it …
To date authorities in Switzerland and the US have taken no action against Paraiba.
Wayne Nash’s Paraiba webinar was primarily pitched at US investors.
Yet despite this, and evidence above that the Ponzi is being heavily promoted across the US, Nash denies the company is active there.
The United States is not a market they’re really even focusing on. They’re not trying to open up the market.
They’re basically saying, “Yeah you can join” … it’s not really a US focused company.
Actually very few people, I think percentage wise … like that Dubai thing? A hundred and eighty people in Dubai?
Most of them were German speakers. I think there was only, I counted maybe twenty or forty Americans or something there?
Nonetheless, the majority of potential recruits watching Nash’s webinar are believed to have been US residents.
This prompted a prickly question from Berdj Ghazarian, who invested in Paraiba “just after” Nash joined.
Is there any chance that the US government is gonna fiddle around and and and…
Nash cuts him off, but it’s pretty clear what Ghazarian was asking.
Well, the US government has certain things they can do.
For example, if people are … if you’re in the US and you are… um, advertising this, which you’re not supposed to, first of all Paraiba would kick you out. (laughs)
You’re not allowed to put anything on social media. You’re not allowed to advertise this anywhere in the United States or any other country.
It’s word of mouth, personally referral only …
This company is owned by various foreign corporations in different countries.
There’s no German entity, there’s no Austrian entity. Even though the management is in Germany …
(The) US has jurisdiction over US dollars. Okay? So that’s why this company is purely bitcoin in and bitcoin out …
They’ve also got seventeen lawyers, a few of them are in the United States, who are just making sure they’re compliant all the time with every major market.
For the record, neither Paraiba, Erich Ely or Wayne Nash are registered with the SEC.
And if there was an issue in that market, whether it’s the United States or New Zealand, they’d just say, “OK, we’re not gonna operate there anymore …
They’re not regulated in the United States, or Austria, or Germany where they operate.
Securities are very much regulated in the US, Austria and Germany.
By not registering with financial regulators and providing audited financial reports, Paraiba operates and solicits investment illegally in all three jurisdictions.
Talk of regulatory compliance from Nash is of course lip-service. He has no problem with Ponzi schemes and securities fraud.
We’ve had people come in (at) $550,000. They’ve got all their money back and are making $100,000 or more after five months.
I’m talking like a year ago. That’s like old information like a year ago. These people are still making over $100,000 a month.
So if anyone thinks… if they know any Ponzi schemes out there that do that, that you put your $4000 in and you get, y’know, $130,000 a month, let me know because I’ll get involved myself.
That sounds like a good Ponzi scheme.
BehindMLM first came across Nash in late 2015.
MyAdvertisingPays had just announced it was abandoning the US. This was seen as the beginning of the Ponzi scheme’s collapse.
Nash, an MyAdvertisingPays investor, showed up in BehindMLM’s comments to threaten everyone with legal action.
Expect lawsuits to be taking a lot of people down pretty soon on this one. MAP is not going to take unfounded slander sitting down.
Disclosure: I am a member and I DO promote MAP because I do believe it will change a lot of lives for the better.
24 hours after Nash left his comment, MyAdvertisingPays slashed ROI rates company-wide.
MyAdvertisingPays limped along till September 2016, wherein it officially collapsed.
Nash is believed to be a Canadian citizen. A social media profile cited by BehindMLM claims Nash has been a “resident in Japan since 1985”.
The earliest MLM I was able to trace Nash’s involvement in was Dubli in 2008.