GSB Settlement claim portal delay response email
On January 3rd BehindMLM reached out to AlixPartners seeking an update on the continuously delayed victim claim portal.
Hi,
This is the second email I’m sending as the first went unanswered back in September.
Can you provide an update to victims of GSB as to why the victim claim portal is being continually delayed? Thanks.
-Oz
On January 13th we received a response, citing “additional time to work with regulators and GSB” as the reason behind delays.
We are working with the various state regulators and GSB’s counsel to finalize the go-live date. At this point, we expect the portal to open in the new year.
As per AlixPartners’ email, they “now anticipate the portal will open in the new year.” This could be anytime in 2025.
Citing themselves as an “Independent Claims administrator for the Gold Standard Bank Settlement Program”, AlixPartners stresses they
do not have access to GSB’s systems or information previously submitted to GS Partner or the GSPRO Compliance mailbox.
While not confirmed, this suggests GSB could be dragging its feet in supplying this information to US regulators and AlixPartners.
Supporting this is AlixPartners initially informing GSB victims the claims portal would go live “within a few weeks” back in September 2024.
BehindMLM also reached out to our contacts in US law enforcement but as at time of publication has not received a response. This isn’t entirely unexpected given the potentially sensitive nature of ongoing proceedings.
GSB themselves haven’t addressed the ongoing victim claim portal delays.
Josip Heit and other GSB executives are now pitching consumers on DAO1, a continuation of GSPartners’ fraudulent investment scheme.
Pending further updates we’ll keep you posted.
Update 22nd January 2025 – GSB has published a January 21st settlement notice stating the victim claims process will commence on February 2st.
No surprise.
Isn’t there a clause in the settlement that states if GSB misrepresents anything in the settlement, like having enough funds to pay everyone out that the deal is off?
Yeah there is. Specifics of how that plays out and the timeline isn’t public though.
I thought this was all on the “blockchain” and “decentralised”. So how is it possible that any records are lost? So many videos of Bruce/Dirc and Heit saying this online in training sessions.
They also seem to be able to “transfer” the old certificates from GSP to DAO1 platform for some reason, but they cant produce the same information for the Alixpartners?
Seems legit.
Both my connections to uplines have offered zero updates. The say that we arent allowed on any of the new “calls” any more because the company was getting backlash for offering new products in the US.
They have offered nothing in terms of when something new might be coming, when refunds are coming, or when we will have access to all the funds. This is after saying 90 days from Nov 1st.
The current excuse being tossed around now, is their will be a SEC chairman that is very pro crypto that is coming into office on Jan 20th. The expect that to be the springboard to more positive news.
But both groups went from multiple messages daily. To a few messages a month. To now nothing unless a question is asked. Both groups are even throwing people out of their groups for questioning the validlity of things. Sad truth’s seem to be hitting some people hard.
@johnny5 – even if laws on the federal level and state level were to switch overnight, the offenses were comitted prior (and therefore handled under current law). Remember the allegations were of fraud, which is unlikely to change.
Those uplines are also being lenient with the use of Crypto in my opinion… Based on their reasoning, if you buy an apple with Bitcoin and get poisoned – then it all falls under the crypto laws and not criminal.
The guy in the driving seat for the regulators is from a deep red state anyway, and this response from the uplines doesn’t seem in good faith based upon the agreement Heit signed (ie Heit did it to delay until the new admin came in)
@concerned
Yes I agree with you. I think most in the groups believe this is an over and done with deal. They’ve lost their money. They are simply wanted truth from the uplines, and so far the uplines refused to admit the gig is up.
Excuses have been told for a year now, and the people in the groups are fed up with it. And when they seriously question the uplines, they get removed from the groups.
However again, both uplines remain the same on the current excuse. Nothing of substance can be said due to the current C&D and that the new SEC chair is going to help move this along.
Neither are willing to give a concrete time frame, but both expectt to hear something in the next week or two and expect it to be positive news.
Thats ^ from 2 uplines that have LOTS of people under them.
Cool-aid drinkers, removing all opposition when questioned… clearly they all want to join GSJonestown as soon as it opens any day now.
@johnny5 – the best thing to do right now is to start preserving all communications from uplines and sending them to your local state securities authority or Joe Rotunda.
Hopefully if enough people come forward, it can put pressure on GSP to make good on their agreement or result in a fine / other charges brought forward (maybe even on the federal level)
I would think that there may even be legal recourse against the uplines as they have essentially assisted downlines into buying into the platform and continue to advise (and their advise is at odds with the authorities)
While we can point fingers at the Heit / Dirc / Bruce – they only continue because people are buying into their story.
Would just like the money i invested back, nothing more or less I would be happy at this point.
Just saw the latest corporate call where JH said the settlement portal will open the 22 February and close the 22 May.
According to the original term sheet:
and
The 30 days ties in with the original launch in early November, but we all know this didnt happen.
@Oz – maybe it’s worth reaching out to Joe Rotunda or the NASAA for commentary as I would think any changes to the settlement agreement should be public knowledge? There would have had to be a further agreement to extend the 30 days and other terms?
This may also mean that we can expect a notice on their websites and social media within the next few days/weeks to comply with the original settlement sheet.
On another note – how is Heit still involved if he stepped down as the chairman? Was he sitting on blackruwens lap for the address?
The settlement terms are signed. If there’s a change that’ll be made public.