Multiple states in the United States have ordered GS Partners to cease operations, accusing it of deceiving investors in various cryptocurrency schemes

2023-11-17 08:50:52

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ChainCatcher news, according to CoinDesk, multiple states in the U.S. have ordered GS Partners to cease operations and have accused GS Partners of deceiving investors in several cryptocurrency schemes. GS Partners is an organization that includes GSB Gold Standard Bank Ltd., Swiss Valorem Bank Ltd., and GSB Gold Standard Corporation AG, all of which are controlled by Josip Dortmund Heit.

According to a case filed by the California Department of Financial Protection and Innovation on Thursday, these affiliated entities are accused of violating state laws by offering and selling unqualified securities and making significant false statements and omissions related to investments in crypto assets. Texas, Alabama, and other jurisdictions are also taking similar actions. The action taken by the Texas Securities Commission on Thursday stated that this could cause direct and irreparable public harm. According to marketing information described by Texas media, part of GS Partners' business offers digital assets related to the metaverse Lydian World, while another part invests in a 36-story "G999 Tower" in Dubai.

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