Canadian regulator requests GSPartners investor contact
Saskatchewan’s Financial and Consumer Affairs Authority has requested GSPartners investors get in contact.
Investors are asked to contact the FCAA’s Securities Division if they have invested with GSPartners. Always check registration first before investing.
As above, the FCAA’s request was made on their public Twitter profile on June 15th. It follows the FCAA issuing a GSPartners securities fraud warning on June 1st;
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity GSPartners.
This entity claims to offer Saskatchewan residents an opportunity to invest in crypto assets.
GSPartners is not registered to trade or sell securities or derivatives in Saskatchewan.
The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses.
The Central Bank of the Comoros also issued a GSB Gold Standard Bank fraud warning in June 2022.
In the midst of Canadian regulatory fraud warnings, GSPartners rebranded to Swiss Valorem Bank last month.
As of May 2023, SimilarWeb tracked Canada as the second largest source of traffic to GSPartners’ website.
The vast majority of GSPartners website traffic originates from the US (66%). Authorities there have yet to make any investigations into GSPartners public.
Through cryptocurrency “certificates”, Swiss Valorem Bank offers investors passive returns of up to 5% a week for 52 weeks.
Neither GSPartners, Swiss Valorem Bank or owner Josip Heit are registered to offer securities in any jurisdiction.
The SEC advises that securities fraud and cryptocurrency is a strong indicator of a Ponzi scheme.
We are concerned that the rising use of virtual currencies in the global marketplace may entice fraudsters to lure
investors into Ponzi and other schemes in which these currencies are used to facilitate fraudulent, or simply
fabricated, investments or transactions.
The fraud may also involve an unregistered offering or trading platform. these schemes often promise high returns for getting in on the ground floor of a growing Internet phenomenon.
Federal and state securities laws require certain investment professionals and their firms to be licensed or registered.
Many Ponzi schemes involve unlicensed individuals or unregistered firms.
GSPartners and Swiss Valorem Bank are run by former Karatbars International executive Josip Heit.
Heit, originally from Croatia but believed to hold a German passport, runs GSPartners and Swiss Valorem Bank from Dubai.