GSPartner’s GSTrade platform has received a securities fraud warning from Alberta, Canada.
On or around March 15th, the Alberta Securities Commission added GSTrade to its Investment Caution List.
The ASC advises;
To help inform and protect investors, the ASC provides a list of companies and individuals that 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.
Investors are encouraged to consult this list if they are considering investing, especially if they are approached with an unsolicited investment opportunity.
As of February 2023, SimilarWeb ranks Canada (11%) as the second largest source of traffic to GSPartners’ website behind the US (59%).
Neither GSTrade or GSPartners are registered to offer securities in Canada or the US.
GSTrade, or Gold Standard Trade, serves as GSPartners’ internal exchange. Through GSTrade, affiliates are able to trade G999, XLT, LYS and other tokens GSPartners has created.
The footer of GSTrade’s website ties it to GSB Gold Standard Pay Ltd and GSB Gold Standard Pay KB; two shell companies incorporated in Kazakhstan and Sweden respectively.
GSPartners, GSTrade, GSB Gold Standard Pay and GSB Gold Standard Pay KB are owned by Josip Heit.
Originally from Croatia, Heit is believed to travel frequently between Germany and Dubai.
Heit launched GSPartners after Karatbars International’s KGC crypto Ponzi collapsed in mid 2019.
Originally centered around the all but collapsed G999 shit token, over the years GSPartners’ Ponzi scheme has gone through multiple iterations.
The current iteration is “metaverse certificates”, wherein US and Canadian residents are promised a passive 300% ROI over 18 months.
GSPartners’ originally represented metaverse certificate returns were generated via forex trading, purportedly executed by BDSwiss.
After BDSwiss publicly confirmed it had nothing to do with GSPartners, the ruse switched to newly created entity Skyground Group.
GSPartners solicits investment in tether (USDT) and created the GEUR token to pay metaverse certificate returns through. GEUR is worthless outside of GSPartners itself.
Launched in mid 2022, initial metaverse certificate investor contracts will expire towards the end of 2023.