Investors who participated in unregistered investments promoted by Josip Heit and GS Partners Global may be eligible for refunds. A 90-day window is open for claims starting February 21, 2025.
Alabamians who invested in a company that recently agreed to a multi-million dollar settlement with the Alabama Securities Commission and other state regulators may be eligible for refunds, but they'll need to act quickly before the 90-day window closes. The settlement involves Josip Heit, GS Partners Global, and its affiliates, which agreed to return investors' money, minus any withdrawals that had been made.
The settlement came nearly a year after the Alabama Securities Commission filed charges against Heit and his affiliates after an investigation found he'd promoted unregistered investments through an international multi-level marketing program and acted as investment advisors or investment advisor representatives. The investigation found that GS Partners Global “primarily targeted minority groups through in-person seminars at churches, hotels, and convention centers,” and that it “also promoted MetaCertificates using online presentations through Zoom and Facebook Live, websites, and social media.” Investors were given claims that the deals were “the best opportunity on the planet,” a “gamechanger,” and an “industry disrupter” and were assured that they would not lose any of their money. Investors were required to purchase the MetaCertificates, which are unregistered investments, using cryptocurrency. These were touted as certificates of deposit with financial returns of over 300%, the ASC said. “Heit and GS Partners Global offered investors a number of digital asset products which are extremely risky and would have been disallowed as offerings by Alabama firms that are licensed,” said ASC Director Amanda Senn during the September settlement announcement. “Little information is known about the products and the individuals and businesses associated with them.”The ASC says the investments were made with GSB Gold Standard Corporation AG, GSB Gold Standard Pay, Ltd., and affiliated GS Partners companies. The settlement required GS Partners to immediately notify investors by email and to work with a third-party administrator to process the claims. Starting on Feb. 21, 2025, the ASC says a secure, online portal will be opened for claims to be made. Alabama investors who believe they have assets invested with GS Partners may submit claims to the third-party, which will then verify eligibility in the settlement.The ASC says all claims must be made by May 22, 2025, a period of 90 days after the portal opens. Those looking to file a claim will need to gather documentation, including:A copy of a valid national ID (license, passport, etc.). The ASC is encouraging anyone with questions about the settlement to call 1-800-222-1253 and ask for Ricky Locklar
INVESTMENTS REFUNDS ALABAMA SECURITIES COMMISSION GS PARTNERS GLOBAL UNREGISTERED INVESTMENTS MULTILEVEL MARKETING
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