1501 GSPartners victim claims filed as of March 13th
One thousand five hundred and one GSPartners victim claims have been filed as of March 13th.
Of the claims filed, Secretary of State Brad Raffensperger asserts one hundred twenty one are from Georgia investors.
Speaking on the GSPartners victim claims process, an AlixPartners administrator stated “Georgia’s winning right now.”
Georgia was the recruiting ground of top GSPartners promoter Michael Lynn “El” Dalcoe.
In January 2024, Georgia’s Commissioner of Securities issued a joint $500,000 fine to Dalcoe, fellow promoter Eric Ture Muhammad, GSPartners and owner Josip Heit (right).
The dollar amount of filed GSPartners victim claims hasn’t been disclosed. Citing its marketing material, North American regulators claim GSPartners took in over a billion dollars worldwide.
Through various “fraudulent investment schemes”, GSPartners solicited investments in cryptocurrency of up to $700,000 (click to enlarge):
GSPartners victims have until May 22nd to file claims with North American jurisdictions participating in the settlement. Up until recently, Texas was one of those jurisdictions.
Citing settlement contract violations and general allegations of fraud, earlier this week Securities Commissioner Travis Iles announced “the settlement is terminated“.
A hearing on Texas’ previously issued GSPartners fraud enforcement action, which names owner Josip Heit and several associates, has been scheduled for April 14th.
One concern raised by the Texas State Security Board was GSB, GSPartners’ parent company, fudging investor transaction data.
Citing an undercover GSPartners account that made no withdrawals, TSSB Enforcement Director Joe Rotunda claims data received from GSB showed the account had “withdrew assets valued at $690.69”.
GSB had determined the undercover account was thus not eligible to participate in the victim claims process.
If fudged investor data has been provided to Texas, it has more than likely been provided to other participating jurisdictions.
As of yet though, no other participating jurisdiction has publicly commented on GSB’s alleged settlement terms violations.
Pending the outcome of the Texas April 14th hearing, the future of the GSB settlement remains unclear.
How the fuck do you launder a billion $
@Tom you rent out luxury vehicles and boats then travel to China and convert that money to gold and the trail ends.
@pravda, you can’t leave china with Gold….
They buy bitcoin or other cryptocurrency and then use a prepaid debit card to spend it directly. This is why their scams always need some card provider on board.
There are rumors on a polish blog that the money had been used to fund a vat syndicate in Europe. Apparently it has to do with buying and selling luxury cars between Germany and Poland – and some accounting that allows for the reclaiming of unpaid vat.
Some of the people in hot water have connections to Heit one way or another. Assuming the Texans have subpoena power, we may learn more about the true financial status for GSB after the hearing in April.
There’s photographs of Australian promoters in Asia taken with vac packed gold as part of the Auratus scheme, to “prove the gold is real”.
I am informed that this gold belongs to one of the GS Partners leaders (Heit most likely).