WINNIPEG – February 27, 2025 – The Manitoba Securities Commission (MSC), in collaboration with other provincial and U.S. state securities regulators, has signed onto a multi-jurisdictional settlement with GSB Gold Standard Corporation AG, GSB Gold Standard Bank LTD, and affiliated entities1 known collectively as GS Partners, along with the group’s principal, Josip Heit.
The settlement was led by regulators in jurisdictions with a higher number of affected investors. By participating, the MSC aims to protect the interests of Manitoba investors who made investments with GS Partners, as the agreement allows them to file claims for refunds of their investments. Under the terms of the settlement, GS Partners has agreed to cease trading in Manitoba unless it fully complies with securities laws.
GS Partners claims to have over 800,000 investors across 170+ countries, with transactions nearing $1 billion. Many of the investment products offered included digital assets and metaverse-related investments, such as:
- Certificates (or “Metacertificates”), including the Olympus, Elemental, and Success series, which allegedly encouraged purchasers to increase their value in order to unlock potential returns.
- G999 token – a digital asset deployed on a proprietary blockchain
- XLT Vouchers – digital assets representing ownership interests in a skyscraper
- Staking pool investments within a metaverse known as World
1The entities, brands and platforms included in the agreement are: GSB Gold Standard Corporation AG; GSB Gold Standard Banking Corporation AG; GSB Gold Standard Corporation USA; GSB Gold Standard Pay LTD (brand name GSDeFi operating g999main.net); GSB Gold Standard Bank LTD dba GS Smart Finance, Gold Standard Partners, GSPartners, GS Partners, and GSP (marketing arm of the metaverse Lydian.World); GSB Gold Standard Banking Corporation PLC; GSB Gold Standard Pay Kommanditbolag aka GSB Gold Standard Pay KB; GS Trade; GSB Gold Standard Trade (virtual digital-asset platform for storing, transferring, obtaining, and exchanging digital assets); GS Digital Partners LLC; GSB Gold Standard B Corporation; GSB Premier Exchange Corporation LTD; GSB Gold Standard PLC; and GSB Money LTD.
How to File a Claim
As part of the settlement, GS Partners will compensate eligible investors through a claims process managed by AlixPartners LP.
Investors must file their claim no later than May 22, 2025.
For details on how to submit a claim, visit gsbsettlement.com.
The MSC acknowledges the efforts of the North American Securities Administrators Association (NASAA) working group, led by U.S. state securities regulators from Alabama, Arizona, Arkansas, California, Florida, Georgia, and Texas, as well as the British Columbia Securities Commission, who conducted the investigation and negotiated the settlement terms.
The Manitoba Securities Commission is a division of the Manitoba Financial Services Agency, a special operating agency of the Government of Manitoba. The Commission regulates the securities, real estate and mortgage broker industries and promotes fair and efficient capital markets throughout the province.
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For Media Inquiries:
Marko Bilandzija, Manager, Education & Communications (Acting)
Marko.bilandzija@gov.mb.ca | 204-945-4733
1-800-655-5244 (Manitoba only)
