GSPartners has received a securities fraud warning from the Alberta Securities Commission.

The ASC added GSPartners to its “Investment Caution List” on May 19th, 2023.

The ASC advises the companies on its Investment Caution List

are not registered with the ASC and that appear to be engaging in activities that either require registration under Alberta securities laws or may be investment scams.

Recruitment of GSPartners investors in Canada is spearheaded by “Crown Ambassador” Nitsa Nakos.

Originally from British Columbia, Nakos’ FaceBook profile suggests she has fled to Greece.

GSPartners solicited investment in cryptocurrency on the promise of passive returns, paid out over 18 to 24 months (click below to enlarge).

Following a string of regulatory fraud warnings from Canada (G999, GSTrade and Quebec), the ASC’s GSPartners warning being the latest, GSPartners rebranded as Swiss Valorem Bank last week.

Through Swiss Valorem Bank, consumers are still being pitched on passive investment plans:

Swiss Valorem Bank operates from GSPartners’ website domain (“gspartners.global”). Associated shell companies include Swiss Valorem Bank LTD (Kazakhstan), IBBP Pay Services LTD (Kazakhstan) and CoinX24 AG (Switzerland).

As tracked by SimilarWeb, “gspartners.global” received ~483,000 visits throughout April 2023. The vast majority of that traffic originated out of the US (74%).

Neither GSPartners, Swiss Valorem Bank or any of its associated companies are registered to offer securities in any jurisdiction they solicit investment in.

GSPartners and Swiss Valorem Bank are run by former Karatbars International executive Josip Heit.

Heit, originally from Croatia, is believed to hold a German passport.

These days Heit spends most of his time hiding out in Dubai, from where GSPartners and Swiss Valorem Bank are operated.