TDCI’s Division of Securities Announces that GSB Gold Standard, GS Partners Claims Portal Opens Feb. 21
Tennessee Investors Will Have 90 Days to File ClaimNASHVILLE – The Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division announces that Tennessee investors can begin filing claims starting Feb. 21, 2025 for GSB Gold Standard Corporation AG and GS Partners related to a multi-million dollar agreement.
TDCI, along with other state securities regulators, previously announced that an agreement was reached with GSB Gold Standard Corporation AG, a company based in Germany that operates in the fintech and banking industries, and GSB Gold Standard Bank LTD, more commonly known as “GS Partners.” The settlement also names Josip Heit, the principal and Chairman of the Board of GS Partners, and other affiliated organizations that are often collectively known as the “GSB Group.”
GS Partners, its affiliated companies, and its representatives claim to have over 800,000 investors from more than 170 countries and to be close to completing $1 billion in transactions. Many of the products offered to investors were converted and often tied to a number of other tangible and intangible investments.
Tennessee consumers who invested in or deposited funds with GSB Gold Standard Corporation AG or GSB Gold Standard Bank LTD will be eligible to receive the value of their investments or deposits, less the value of any withdrawals. Once the claims process begins on Feb. 21, investors will have 90 days to file a claim.
As Tennessee is participating in this multistate settlement, these claims will be managed by AlixPartners LP, a firm with extensive experience in managing very large investment refunds in conjunction with state and federal regulators.
Investors will have 90 days to file a claim. Once the claim portal is available on Feb. 21, you may begin your claim process here.
“I remind all Tennesseans who may have purchased any product or service from GSB Group that they can contact TDCI’s Division of Securities today with their questions so that we might assist them with the claims process,” said TDCI Assistant Commissioner of Securities Elizabeth Bowling. “Consumers should contact us by phone at (615) 741-5900 or visit us online today for more information.”
The relevant offerings of investments were tied to digital assets and the metaverse, including the “G999 token,” a digital asset deployed on a proprietary blockchain; “XLT Vouchers,” a digital asset representing ownership interests in a skyscraper; and investments in a “staking pool” in a metaverse known as “Lydian World.”
The agreement will require the respondents to return the full amount of all monies and/or cryptocurrencies invested or deposited with GSB Group, GS Partners and its affiliates, regardless of the product or service purchased from the respondents.
All communications with TDCI's Securities Division are protected and deemed confidential as a matter of law.
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