The Alberta Securities Commission has signed onto a multi-jurisdiction settlement with GSB Gold Standard Corporation AG, GSB Gold Standard Bank LTD and other affiliated entities operating as GS Partners, along with the group’s principal Josip Heit. The settlement provides a mechanism for Alberta investors who invested with GS Partners to seek refunds and includes an undertaking that GS Partners will refrain from trading in Alberta in the future unless it complies with securities laws. Under the settlement terms, eligible investors can claim compensation equal to the difference between the value of their investments or deposits and the value of any withdrawals, with the claims process administered by AlixPartners LP. The matter relates to a range of products marketed by GS Partners that were tied to tangible and intangible investments, including digital assets and metaverse-related offerings such as the G999 token, XLT Vouchers and a staking pool associated with Lydian.World. The claims process is expected to start on February 21, 2025, and investors must file claims within 90 days of the process starting. Depending on how the investment was made, refunds will be paid in either money or cryptocurrency.
Alberta Securities Commission 2025-01-23
Alberta Securities Commission joins multi-jurisdiction settlement with GS Partners to provide refunds to eligible Alberta investors
The Alberta Securities Commission reached a settlement with GSB Gold Standard Corporation AG, GS Partners, and Josip Heit, enabling Alberta investors to seek refunds. GS Partners must cease trading in Alberta unless compliant with securities laws. Eligible investors can claim compensation for losses, managed by AlixPartners LP, covering digital assets and metaverse products.