GSPartners Security Fraud Allegations Fact-checked (2024)
Originally Syndicated on June 13, 2024 @ 4:52 pm
GSPartners: What was the real story behind this firm?
GSB Gold Standard Banking Corporation AG was founded in December 2017 by Josip Heit. A recent filing with the Dusseldorf District Court has identified the shell companies that finance GSPartners.
To conceal the GSPartner’s Ponzi fraud, Josip Heit renamed the company GSB Gold Standard Banking Corporation AG, then GSB Gold Standard Corporation AG. As per the statement, on April 26th, Josip Heit relocated GSB Gold Standard Corporation AG from Hamburg to Dusseldorf by utilizing the corporate address that Regus, a company that offers virtual office addresses, had furnished.
Chemical products are produced, imported, exported, and distributed by the GSB Gold Standard Corporation, which has a capitalization ratio of 8.9 million euros. Oddly, nothing about GSPartners’ MLM ventures or the G999 Ponzi scheme is mentioned.
Josip Heit’s file contains additional proof of the connection between GSB Gold Standard Corporation AG and the financing of both local and international businesses by the Gazella Corporate Capital Group. Gazella Corporate Capital Group is one of Josip Heit’s numerous front companies.
Regretfully, Josip Heit continues to be permitted by the German government to hide his GSPartners Ponzi scheme behind many German shell businesses. The primary financial regulator in the nation, BaFin, has not yet taken any action.
GSPartners drops its legal action in the US
Josip Heit and the GSPartners plaintiffs claim that Saunders defamed them by disclosing recordings that showed them taking part in a Ponzi scheme. He was incensed that Saunders brought up Josip Heit’s role in the collapsed KBC Ponzi scheme of Karatbars International. On behalf of GSB Gold Standard Corporation AG, Josip Heit, Michael Dalcoe, and Tony De Gouveia filed a stipulation of dismissal on July 29.
On the same day, Christopher Saunders finished a declaration linked to it. With the signature and approval of legal counsel, the plaintiffs and defendants decided to reject every lawsuit on the grounds of Saunders’ declaration. In his declaration, Saunders stated that he received $5,000 in Bitcoin from Ovidu Toma in exchange for making false allegations against the plaintiffs.
Since January 2020, Ovidiu Toma, the former Chief Technology Officer of Karatbars International, has been sending me documents proving Harald Seiz was connected to the company’s purported misconduct. Nothing was left out of the documentation and information that Mr. Toma submitted.
Toma is the CEO of CryptoData, a Romanian company based in that nation that offers hardware for Bitcoin exchanges.
Saunder confirmed that before any affiliation with GSB or Mr. Josip Heit regarding the Miami crypto bank and KBC/KBC tokens, Mr. Harald Seiz, the CEO of Karatbars, had been involved in the alleged wrongdoing.
Considering that Josip Heit disclosed Karatbars’ initial involvement in Bitcoin securities fraud, this assertion appears odd. In an April 2019 interview, Seiz was described as Karatbars International’s “big investor and Board Member.”
Josip Heit addressed the KBC coin when Karatbars was promoting a “blockchain phone” in Dubai. When Josip Heit was questioned about his comments made during the event, he was asked if he thought that the KBC coin may be equivalent to one kilogram of gold. In response, Josip Heit stated that it was feasible.
Their market value has increased significantly from $300 million to over $1 billion in only a few short weeks, even in the absence of the principal net being fulfilled. They expected that after the main net profit is generated, which should happen in a few months, their market valuation will exceed $200 billion.
The KBC Ponzi currency was advertised by Josip Heit and Seiz, however following a much-awaited event on July 4, 2019, its value plummeted by 62%. Investors were angry, and it was up to Josip Heit, not Harald Seiz, to address the problem and explain why the company had collapsed.
KBC finally shut down following its continuous decline. Josip Heit founded GSPartners, a Ponzi spinoff business after he had amassed wealth by the end of 2019.
The Ponzi currencies that GSPartners produced, G999 and LYS, haven’t done much better because G999 is backed by wash trade while LYS is gradually being depleted. GEUR was initiated in response to G999 and LYS’s ongoing failure.
Due to investors in GSPartners no longer wishing to keep onto G999 and LYS, GEUR—which is linked to the euro was created.
GEUR supports its most recent 300% ROI Ponzi relaunch and metaverse certificates, which are now exclusive to GSPartners. Although it is not known to the public, GSPartners and Saunders are rumored to have negotiated a settlement.
Except for the claim that Josip Heit was mistakenly unaware of his involvement in the Karatbars KBC scam, Saunders has not recanted any of his claims regarding GSPartners.
The court approved the plaintiff’s stipulation of dismissal on August 2, leading to the dismissal of GSPartners’ harassment action against Saunders.
GSPartners: How, exactly, was it a Ponzi scheme?
Following the failure of the G999 launch, GSPartners transformed into a factory producing low-value cryptocurrencies. The first currency to be made accessible, the JONE coin, is said to be backed by a floor in the J One tower in Dubai. The architects of the tower, RKM Durar Properties, are not aware of this relationship. A MyBroadband forum user revealed screenshots of conversations in an attempt to explain why a real estate developer would be associated with a defunct Ponzi scheme.
There was a message claiming that G999 might be used to obtain a certificate of ownership in J One and that Josip Heit, the person who created G999, might be connected to RKM Durar Properties.
When a group of investors from an anonymous location inquired about any official collaborations between Durar Group and Gold Standard Bank (GSB) group, a representative of RKM Durar Properties said that they were not aware of Josip Heit, the CEO of GSB. The corporation was interested in J One as an investment opportunity, therefore they needed to make sure the properties were legally permitted for sale.
The representative from RKM Durar Properties responded by saying that an unauthorized advertising website had been taken down. The representative did point out that the JONE coin promoted by GSPartners remained a Ponzi scheme despite their involvement. It was intriguing to note that Josip Heit appeared to have chosen a Dubai home at random for promotional reasons. On the GSPartners website, the launch date of the JONE coin is still listed as being in seven days.
GSPartners Benefit Scheme
GSPartners does not make their wage structure available on their website. The official pay data designated as “for internal use only” is the basis for the pay evaluation presented here. GSPartners affiliates purchase G999 tokens with the hope of making a profit. The price of these tokens is “69 USDT for 4999 G999 coins” on the GSPartner-operated GSTrade market.
Moreover, affiliates of GSPartners receive G999 tokens upon enrollment. For 275 USD, users who enroll in the Brand Advantage Basic Package, for example, get 3498 G999 tokens annually. Those who signed up for the Brand Advantage Premium Package received more G999 tokens than those who enrolled for the Basic Package; nevertheless, the precise cost of the Premium Package could not be determined. It’s vital to remember that GSPartners takes Bitcoin and Ethereum payments while listing their prices in USDT.
GSPartners Affiliate Ranks
GSPartners’ affiliate pay scheme consists of ten distinct tiers, each with its own set of requirements. You can take the top spot if you have a simple affiliate status and pay the necessary fees. The Director rank requires production of $15,000 GV per month, whereas the Regional Director rank requires production of $40,000 GV per month. To be eligible to become a National Director, an individual must generate $80,000 GV each month. For the Executive position, a monthly GV requirement of $150,000 and $369,000, respectively, is necessary.
A million GVs are needed each month to advance to the International Executive level. To become an ambassador, you must generate $3,000,000 in GV each month; to reach the Global Ambassador level, you must generate $9,000,000 in GV per month. Lastly, to become a Crown Ambassador, you must generate $27,000,000 GV each month. The quantity of fees or investments made by associates in a person’s downline is referred to as “Group Volume” (GV).
Referral Commission
GSPartners employs a reward plan from Unilever to provide referral commissions. In this arrangement, an affiliate leads a team and any new affiliate they bring on is positioned on level 1 right below them. If a level 1 affiliate refers new affiliates, they will automatically advance to level 2, and so on indefinitely.
The remaining commissions are paid out as a percentage of the money spent in Basic and Premium programs at each of these levels, with a maximum level of nine referral commissions. Level 1 receives the highest commission of 10%, followed by levels 2 and 3 at 4% and 3%, levels 4 and 6 at 2%, levels 7 and 8 at 4%, and levels 9 at 6%. Each level is allocated a different percentage. It’s unclear if direct investments in G999 tokens purchased through GSTrade qualify for referral commission payments.
Reviews of GSPartners: Scams Revealed by Customers
I’ve included reviews of GSPartners below to demonstrate that it is a Ponzi scheme. These comments demonstrate how the people who put money into this fraud lost it. To comprehend my arguments, peruse the subsequent reviews:
#1. Investment is not safe!
It appears that you might have fallen victim to a financial scam or investment fraud based on the aforementioned promise. Claims of large, rapid returns on investment should raise red flags for you because these scams are sadly common.
The con artists claimed that after eighteen months, your money will be appreciated greatly. A common red flag for potential fraud is a promise of large profits in a short amount of time.
#2. They are Fraudsters!
As per the aforementioned comment, certain individuals have conveyed their discontent and dissatisfaction towards Karatbars, asserting that their losses remain unrepaired. They called it a money-making scheme and an ineffective use of time and resources, and they advised others to beware. Additionally, they attacked Josip, the CEO of G999 Coin, and said that he was profiting from the ignorance of others.
#3. GSPartners is a scam!
The aforementioned statement claims that he initially invested in Karatbars International and then transferred his money to this new platform when they rebranded as GSPartners. Sadly, he is now experiencing problems with his Know Your Customer (KYC) verification.
In the banking industry, KYC identification verification is standard practice. It could be reason for concern if GSPartners is rejecting his KYC. Remembering that investing is inherently dangerous is essential. Before committing funds, one should thoroughly research any platform and consider its background and standing.
#4.
The reviewer states that after receiving an invitation to a Zoom conference from two Australian business professors, he labeled them as dishonest and scammers, saying the entire situation seemed strange. “It’s a scam, be cautious this is being promoted by online coaches,” she added in her warning. They did not respond to any questions I or anyone else on the line had. If something sounds too good to be true, it most likely is it’s an MLM Ponzi scheme. They feed off people’s anxieties, and dread drives the caller’s actions throughout. Learn more about this company. They rebranded; why? Why are they currently being investigated?
#5. GSPartners is a SCAM!
Based on the aforementioned comment, it seems that she had a negative experience at a blockchain and cryptocurrency presentation near Oxford Street in London. When thinking about taking a financial risk, it’s crucial to exercise caution, particularly in the realm of cryptocurrency where there are plenty of dubious schemes. Based on the information that you have supplied, the following are some reasons why you should proceed with caution:
Lack of transparency: The fact that the presenter had to start by warning that they could turn up as a scam when Googled raises grave concerns. Reputable businesses and investment opportunities typically have a strong online presence and positive online reviews.
#6. GSPartners are running Pyramid Scams!
the sentence above refers to conflicting information about GS Partners. He claimed that GS Partners are dishonest companies on the one hand and that they are unveiling their rankings on the other a claim he believes to be false. This type of confusing discrepancy in facts is often indicative of potentially dishonest or fraudulent investment tactics.
The allegation that GS Partners are “scam artists” suggests that the company may be involved in dishonest or deceptive activity. It is important to treat this serious claim seriously. If this accusation is supported by concrete evidence, prospective investors ought to be safeguarded and informed of the appropriate authorities.
Conclusion
Because GSPartners is essentially a duplication of the securities fraud that Josip Heit started with Karatbars International, their official website does not provide information about their remuneration scheme. Similar to all previous Karatbars shitcoins, G999 is worthless. Josip Heit makes G999 as needed and offers it to unsuspecting investors. Based on CoinMarketCap data, G999 has only been listed on open exchanges recently.
At precisely 0.0068 cents on February 12, the first data point was recorded. Right now, G999 is being sold for 0.016 cents. This public benefit is connected to GSPartners hiring. As recruiting rises, more affiliates buy G999, which raises the price. G999 loses trading value when recruitment is terminated.
The most blatant example of securities fraud is when G999 is offered for sale to generate revenue. For all MLM cryptocurrencies, this is true. The Blockchain Academy platform from GSPartners is a tool to assist with hiding this. The compliance gimmick of the “education platform” is beginning to seem a little dated. The best example of this is probably the OneLife platform from OneCoin. Brand Advantage investment packages that provide guaranteed returns are also susceptible to securities scams by GSPartners.
Everything is ready for early GSPartner partners to pay out their later invested monies by selling their G999 tokens. Again, because securities fraud is prohibited worldwide, GSPartners does not publicly reveal any of this information on its website.
As of the time of posting, South Africa (15%), Mexico (12%), and the United States (52%) are the top three countries from which visitors to the GSPartners website originate. This information comes from Alexa. In none of these jurisdictions is GSPartners authorized to offer securities.
Math assures you that most GSPartners associates will lose money, whether it’s from a drop in recruiting or regulatory action.
