Phoenix, Ariz. - Arizonans who purchased products, deposited funds, or transacted with GS Partners using platforms operated under GSB Gold Standard Corporation AG, GSB Gold Standard Pay, Ltd., and affiliated GS Partners companies may be eligible to recoup funds in a claims process.
The Securities Division of the Arizona Corporation Commission announces a framework for settlement in a case regarding Respondent Josip Heit, and Respondent entities, GSB Gold Standard Corporation AG and GSB Gold Standard Pay, Ltd., (collectively as “GSB” or “GS Partners”) (Docket No. S-21277A-23-0307).
The parties have entered a term sheet that outlines certain terms and conditions that must occur before a consent order is finalized. The agreed-upon claims process gives Arizonans an opportunity to receive a return of assets deposited with GS Partners and/or GS Partners affiliated platforms.
Eligible customers may be able to recoup the value of their deposits with GS Partners, less the value of any withdrawals through a claims process administered by a third-party administrator, AlixPartners, LLP. Once funds are successfully returned to eligible customers, Mr. Heit and the Respondent entities will enter a consent order that concludes they offered and/or sold securities that were not registered under state law.
More information about the claims process is available at: https://www.gsbsettlement.com
Beginning February 21, 2025, a secure portal will be available for making claim submissions. Please check the link above for updates regarding the claims process.
To ensure a smooth claims process, the Securities Division recommends that claimants gather documentation including:
In addition to Arizona, residents in other states including Alabama, Arkansas, Georgia, and Texas, may also be eligible to file claims with AlixPartners. This proposed settlement is a result of coordinated efforts by securities regulators in those states and the Arizona Corporation Commission, as well as other jurisdictions that are a part of the North American Securities Administrators Association (“NASAA”). Although the claims process will allow repayments to investors, any final order must be approved by the Arizona Corporation Commission at an open meeting.
AlixPartners, the Respondents, and state securities regulators will begin notifying eligible customers of the claims process. Individuals may also submit claims directly to AlixPartners who will verify customers’ eligibility for return of assets.
If you resided in Arizona during the time of your GSB purchases or transactions, you may be eligible to claim a refund. If you did not reside in Arizona, you may still be eligible. Please visit https://www.gsbsettlement.com/faq.html for a list of participating states.
If you have questions, you may send an email to SecuritiesDiv@azcc.gov. In the subject line, include “GS Partners” or “GSB” and provide your contact information.
General Disclaimer: In most instances, any offers or promotions of any ventures as an investment opportunity, including virtual opportunities involving digital assets, must be registered with securities regulators. If the offers or securities products are not registered, there is a risk that the solicitation is unsafe, risky, or a scam. The easiest way to protect yourself is to contact the securities regulator in your jurisdiction to verify whether the securities, offering entity or person is registered.
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