The British Columbia Securities Commission has reached an agreement with overseas companies operating as GS Partners and its affiliates, enabling British Columbians to claim refunds for all investments made with the group. The arrangement requires the firms to return all money and or cryptocurrency deposited with them, regardless of the product or service purchased. Refunds will be based on the value of deposits minus any withdrawals, and GS Partners and its affiliates must also fund the costs of the claims process. The eligible investments include certificates or “metacertificates” (including the Olympus, Elemental and Success series), the G999 token, XLT Vouchers, and a staking pool in the “Lydian World” metaverse. Claims will be administered by AlixPartners LP through a claims portal opening on February 21, 2025, with submissions due by May 22, 2025. The agreement follows the BCSC’s November 2023 temporary order against GS Partners, certain affiliates and three British Columbia promoters, which was extended to November 29, 2024, and the BCSC will discontinue enforcement proceedings against GS Partners and its affiliates upon successful conclusion of the claims process.
British Columbia Securities Commission 2025-01-22
British Columbia Securities Commission secures agreement with GS Partners to refund British Columbia investors’ cash and crypto deposits
The British Columbia Securities Commission has reached an agreement with GS Partners and affiliates to refund British Columbians for investments made with the group. The firms must return all money or cryptocurrency deposited, covering products like certificates, G999 tokens, and XLT Vouchers. AlixPartners LP will manage the claims process, and enforcement proceedings will cease upon successful claims resolution.