The Texas Securities Commission has defendant This is a network of “GS” branded companies engaged in fraudulent activities in Germany “related to investments in digital assets and pledge pools in the proprietary metaverse.” The company network is controlled by Josip Dortmund Heit.
as describe The regulator released information on November 16 that respondents GS Partners, GS Smart Finance and GS Wealth allegedly conducted three rounds of Metaverse real estate sales starting in September 2021. At the time, investors were told they could purchase XLT vouchers or BNB Chain tokens, representing ownership of one square inch of a unit in the company’s G999 Tower virtual universe, at a price of 9.63 Tether (USDT) per voucher. However, the token’s value quickly depreciated after Respondents failed to reach its $175 million offering fundraising target, falling to less than 0.0000049 USDT per token on decentralized exchange PancakeSwap.
“At no time were the respondents registered as dealers or agents with the Securities Commissioner.”
Other investment products created by GSB, such as Lydian World tokens, gold tokens, G999 tokens and Elemental certificates, also constitute unregistered securities products, the regulator said. The Texas Securities Commission has filed an emergency enforcement action against GSB Group of Companies, requiring it to cease such activities in the state.
On August 15, the Ontario Securities Commission warning GS Partners is not registered to do business in Ontario, Canada. Securities regulators in the Canadian provinces of Saskatchewan, British Columbia, Alberta and Quebec have also previously issued warnings against the company.
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