GSPartners fraud settlement website goes live
Following a settlement reached with US states earlier this month, AlixPartners has set up a website to process victim claims.
AlixPartners is a neutral third-party company, mutually agreed on to process GSPartners victim claims as part of the reached settlement.
Dubbed the “Global Standard Bank Settlement Program“, AlixPartners advises;
Eligible GSB customers will be able to submit claims through the Claims Portal beginning in the coming weeks. The Claims submission process will last 90 days.
The Claims Portal will be available soon. Check this website in a few weeks for the link to the Claims Portal.
The framework for the GSPartners (GSB) victim claims process, expected in “early November”, will see victims of the fraudulent investment scheme submit claims with supporting documentation.
We require supporting documentation to assess your eligibility for compensation based on your verifiable transaction history and outstanding digital currency balance with GSB.
We will only make one offer per user account. Investors with multiple accounts will need to file a separate claim for each account.
Note that once initiated, the GSPartners victim claim submission period will be 90 days.
Required supporting documents include:
- proof of identity (any KYC materials provided to GSPartners and/or valid national ID);
- an email address;
- GSPartners account ID or username;
- the claim amount, supported by “any and all GSB statements” and “proof of deposits, withdrawals, and other GSB transactions”;
- all wallet addresses used to interact with GSB;
- GSB wallet addresses interacted with; and
- “information as to whether you have already sought or received compensation from GSB”
GSPartners victims can hire an attorney to file a claim for them but this is not a requirement.
You do not need an attorney to submit a claim. You are free to consult with an attorney and be represented by an attorney in filing your claim.
Note that if a GSPartners victim hires an attorney to file a claim, all communications with AlixPartners will be through the attorney.
If you are represented by an attorney in connection with your GSB account or outstanding balance, we can only communicate with you directly about technical questions (e.g., website questions).
Please route any other questions to us through your lawyer and we will communicate about your claim, including your offer, through your lawyer.
Once a GSPartners victim claim has been received it will then be processed by AlixPartners.
Eligible GSB customers who have successfully submitted a verified claim will be offered a payout, and, if the GSB customer accepts, GSB’s goal is to pay out their offer during or shortly after the Claims submission process.
It is unclear what happens if a GSPartners victim disputes the allowed amount attached to their claim.
Also unclear is whether GSPartners victims will be able to claim balances in their GSPartners backoffice.
The goal is for eligible GSB customers to receive compensation based on the difference between total deposits and total withdrawals, plus any outstanding balance in their GSB digital wallet as of November 16, 2023.
BehindMLM has reached out to AlixPartners for clarification on whether GSPartners backoffice wallet amounts can be claimed.
As of September 19th, ten US states have opted to participate in the GSPartners fraud settlement;
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- District of Columbia
- Georgia
- Idaho
- Illinois
- Indiana
- Kentucky
- Mississippi
- Nebraska
- New Hampshire
- Oregon
- South Carolina
- Texas
- Vermont
- Washington State
- Wisconsin and
- British Columbia (Canada)
The settlement offer is available to all US states and Canadian provinces. If your state or province has not yet joined the GSPartners fraud settlement, you are advised to contact your state/province securities regulator for guidance.
The GSPartners victim claims process is part of the first component of the reached settlement.
Assuming GSPartners and owner Josip Heit (right) fund accepted victim claims, the second component of the settlement will result in entry of a new consented enforcement order.
GSB Group and Mr. Heit will consent to the entry of an enforcement order that concludes they illegally offered and/or sold securities that were not registered pursuant to state law.
The consent order will replace any prior administrative actions filed by state securities regulators in participating jurisdictions solely as those prior administrative actions relate to the respondents.
The second part of the GSPartners fraud settlement is expected to initiate in the first quarter of 2025. This assumes there are no hiccups with the GSPartners victim claim process.
Sounds like they’re making the claims process as convoluted as possible, will be surprised if anyone gets paid a claim.
No doubt every claim will be rebutted with some bullshit as to why it will NOT be paid. Let’s see…
Um, what? AlixPartners isn’t a Receivership but every Receivership claims process goes like this.
GSPartners victims getting refunds has nothing to do with the claims process, it’ll be whether Heit can pay up or not.
I can’t see that JH will pay these claims. Top promotors here in SA is claiming this as a victory and using it to continue business as usual.
My guess is they’ll try and delay as much as possible to get new funds in.
@ Non Partner
I agree. Ive heard from no one in the higher up positions that think this settlement is anything but good for GSP and its future. They claim this as a huge win.
I too think they’ll drag their feet on any payments. Pay out the minimum required to keep the US regulators off their back, and continue run business elsewhere to help fund the payouts required. There is already a 90 day back log and the site isnt even up yet. So you are looking at a minimum of Dec/Jan before any money gets returned.
I also believe they’ll come up with some new business venture that they’ll be able to get customers to simply transfer their money into from the old GSP site. Thats just an opinion though.
Never short of a new promise for something even better…
Annnnd just as things are starting to ramp up in AUS..
I’m still feeling doubtful here if Josip Heit will even pay a single cent of these refunds? I suppose if very little claims are made he might.
Financial regulators in Australia have already issued two fraud warnings, which may affect recruitment.
It appears to be increasing. They’re advertising the Reward Points with the suggestion that investors are receiving an income without evidence that it’s possible.
Josip has been Insta posting Auratus promotional reels from the AUS/NZ Martene Wallace leadership team. This will not end well for the Australians.
As per the GSB settlement website, 14 states now showing as signed onto the settlement agreement:
Alabama
Arkansas
Arizona
California
Georgia
Idaho
Illinois
Mississippi
Nebraska
Oregon
South Carolina
Texas
Vermont
Wisconsin
Even though there is some movement on the website, no change has been made to this part yet:
I didn’t hear anything back from AlixPartners yet. Dunno if that’s because they’re swamped or because I’m not an investor.
Ive heard nothing from either of my connections to upline either. Both have said they were told to keep communications at minimum until the settlement is reached in full. With more states starting to agree to the settlement, they are expected some type of call in the coming weeks (they said this week, but that seems unlikely)
Also, the get your money by September promise is obviously not going to happen. Again, no answers from the uplines on this either.
The positive news of the settlement, is slowly turning into more frusteration in the groups I have connections with.
Good that the frustration is growing and that they know there is a settlement.
When the Terms are executed they will be informed by email and notices on the websites and social media channels of the respondents. Then they may realize a refund is much better than chasing the “next, much better” opportunity… if not, enjoy the abuse.
New update: The reason there has not been a corporate call to date, is because the law team is getting all the states (even the ones that never filed) to agree to the settlement so that they can go back to operating in the US.
They have “supposedly” shown term sheets where they have proven they have the funds to pay everyone out fully, including all the maturity in the funds. So a full pay out for all.
They are still waiting on all the states to agree to the terms and will not take the next step in their operation until then. As always there isn’t a time line as to when that might be, but it will be “soon”.
Again I speak none of this as its fact. Just relaying what I am being told.
@Johnny5 – this sounds like an impossible task, as the only way for this to happen would be for their own clientele to complain to their state regulators (which won’t happen if they are also encouring their clients to not take the refund).
In reality, it’s really simple – they can just apply for a licence and comply with each states requirements. A settlement does nothing but makes Josip agree that he offered an illegal security, and doesn’t allow them to continue.
Am I missing something, or is that the point? ;p
@concerned
Per the upline. There are only a few states left that have not agreed to the settlement terms. GSP is waiting to be sure they will not be shut down before re-opening, so they are making sure all the needed documentation is legal. This is why things have taken so long.
They are again telling people that getting the refund a mistake.
Again I know little to nothing on how the legal side works. Im on 2 groups on 2 different uplines that get communicated with. They seem to be both saying similar things.
They both had promised full payouts in Sept, this is their explaination as to why it will not happen in Sept, but will happen soon. And both are extremely adament that GSP is legal and will re-opening soon with new products in the US
@Johnny5 – last i checked, the gsbsettlement website listed only 14 states, however there are 50 states all-together (and it appears that the Canadians were also part of the working party). I highly doubt they will get all 50 states to agree, when not all 50 states issued C&D orders.
Even if they mean all the states that issued the orders, the settlement agreement only deals with their actions up until Nov 16 2023. Should they want to be legal from this point onward, they would need to register with each states security authority and comply with the requirements – some of which require disclosures of owners and yearly disclosures of their financials.
Sounds like a potential delay tactic that maybe buys them the 3 months payment period from Nov. What I cant understand is why they promised sep as the payout month in the first place, as I recall this being after some of the C&D orders were issued?
It’s a little like being caught driving without a licence, and then saying you can legally drive after you pay the fine. You still need to get your licence…
@concerned
Yes both uplines told their groups somewhere around Feb that things would be very quiet until Sept, and in Sept we would all get full payouts on everything.
Its been rumored, that they are working on a brand new re-company, with new securities, that will be legal in the US. That is why it so was key for Heit to not face criminal charges. I assume people that are already in GSP will be given a chance to just move their money over. Which would continue thte ponzi scheme and allow Heit and company to not have to pay anyone out in full.
@johnny5 – maybe Oz can reach out to Jo Rutunda in texas and ask if Heit and co are in the process of registering? Might be helpful to confirm if this is true or not.
I say he’s bluffing. Australia and New Zealand regulators have issued warnings about his new Auratus.gold product. The website has been reported for potential phishing while statistics shows minimal visitor traffic.
He’s picturing local unlicensed promotors on his social media for the regulators to see. He’s struggling from what I see.
Registering what? GSPartners collapsed.
Soliciting investments across the US requires SEC registration. Anyone can search the SEC’s public EDGAR database to confirm whether Heit is registered.
As at the time I’m writing this, neither Heit or any of his companies has ever been registered with the SEC.
Expecting news end of next week. Corporate will finally communciate their plans moving forward on a call to the higher ups.
Josip is advertising 2 zoom meetings for Friday the 11th as well. Links are advertised, and there is a note that they will be providing updates every fortnight…
Ah, so it looks like we are about to see the birth of the new scheme that Josip Heit was hinting at strongly on his instagram.
Judging by the type of unsavory people that were retweeting his statuses (e.g., Tony de Gouveia), I am going to go out on a limb and predict it will be another highly illegal ponzi scheme. Old wine in new bottles.
More like fizzy p1ss in old bottles. Like Heit himself
There is a “global online” event with Bruce Hughes and Dirc Zahlmann tagged advertised for the 11th.
Funny, as those two clowns (Dirc and Bruce) are explicitly excluded from the current refund settlement, at least in Texas; the C&D legal order against them for illegal securities offerings is final.
Whoever joins that call should ask if whatever they announce is also offered by them to people in Texas.
Josip’s latest project auratus.gold is flagged as a phishing site when you search for it. Are the North Americans so stupidly, self-focused that they can’t see what’s in front of their noses!
Article updated with latest list of participating US states and Canadian provinces (Oct 5, 2024).