The Alabama Securities Commission has sent out a questionnaire to GSPartners investors.

Dated April 15th, the ASC’s questionnaire provides an opportunity for GSPartners investors to provide details pertaining to their individual circumstances.

Oh, and the ASC also knows about Billionico…

On April 3rd top net-winner Andrew Eaton (right) claimed eleven US states were “happy to” settle GSPartners securities fraud charges. Alabama was included among the eleven states.

Just in case there was still any confusion on this, this is straight from the ASC as of April 15th.

Approximately seven months ago, the Commission staff became aware that GS Partners Global (“GS Partners”); Josip Heit, CEO of GS Partners; and GS Partners promoters Nathaniel Hines, Jeanette Hines, Del Lewis, Diana Lewis, operating under the multi-level marketing group WealthBuilders Worldwide (also known as WealthBuilders Global) were offering and/or selling unregistered securities in the state of Alabama.

These unregistered securities were titled MetaCertificates and were structured and marketed as certificates of deposits and/or investment contracts.

It is unlawful for any person to offer or sell any security in this state unless it is registered, subject to an exemption from registration, or the transaction is exempt pursuant to the Act.

MetaCertificates are not registered securities, not exempt, and the transaction is not exempted in Alabama.

Furthermore, it is unlawful for any person to transact business in this state as a dealer or agent for securities unless he is registered under the Act.

It is also unlawful to provide investment advice if not properly registered with the Commission.

None of the entities or individuals mentioned above were properly registered at the time of the offer/sell of the MetaCertificates.

As I’ve maintained any time it’s come up in the comments on BehindMLM, securities fraud charges don’t expire.

The only way to resolve securities fraud charges is through settlement or judgment. In both instances we will typically see an injunction issued, as well as restitution and a civil monetary penalty.

GSPartners has not settled securities fraud charges with any US state regulator. Josip Heit (right) confirmed as much when he reportedly informed investors he was “abandoning the US” on an April 4th GSPartners corporate call.

Getting back to the ASC’s questionnaire, GSPartners investors are able to provide the regulator with specifics to their involvement in WealthBuilders Worldwide, Swiss Value, GSPartners, Swiss Valorem Bank, GSPro and Billionico.

Swiss Value is a shell company tied to GSPartners through Birol Nadir, Ehssan Memarpuri and Roger Hassanov.

Swiss Valorem Bank, GSPro and Billionico are failed reboots of GSPartners.

On his April 3rd “GIHugeness” call, Andrew Eaton claimed Billionico was launching on April 19th. As of April 21st, there has been no public confirmation Billionico launched.

Pending further updates from US authorities, total GSPartners investor losses remain unknown.