GSPartners has received a securities fraud warning from Saskatchewan, Canada.

As per the Financial and Consumer Affairs Authority’s June 1st investor alert;

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 FCAA urges anyone who has invested into GSPartners to contact their Securities Division.

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).

Amid a barrage of regulatory fraud warnings from Canada; G999GSTrade and GSPartners from Alberta, Quebec, British Columbia, GSPartners rebranded as Swiss Valorem Bank in late May.

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 also operated.