FOR IMMEDIATE RELEASE
Helena, Montana—Montanans who purchased products, deposited funds, or transacted with GS Partners using platforms operated by GSB Gold Standard Corporation AG, GSB Gold Standard Pay, Ltd., and affiliated GS Partners companies may be eligible to recoup funds through a claims process.
The Securities Division of the Office of the Montana State Auditor, Commissioner of Securities and Insurance (CSI), announces the framework for settling a case regarding Respondent Josip Heit and Respondent entities GSB Gold Standard Corporation AG and GSB Gold Standard Pay, Ltd. (collectively referred to as “GSB” or “GS Partners”).
The parties have entered into a term sheet called a consent order outlining certain terms and conditions that must be met before finalizing the settlement. The agreed-upon claims process provides Montanans with an opportunity to recover assets deposited with GS Partners and/or GS Partners affiliated platforms.
Eligible customers may recoup the value of their deposits with GS Partners, less the value of any withdrawals, through a claims process administered by a third-party administrator, AlixPartners, LLP. Once funds are successfully returned to eligible customers, Mr. Heit and the Respondent entities will enter a consent order concluding that they offered and/or sold securities not registered under state law.
More information about the claims process is available at www.gsbsettlement.com.
A secure portal for submitting claims will be available beginning February 21, 2025. Please check the link above for updates regarding the claims process. The claims period will be open for 90 days until May 22, 2025, and all claims must be submitted by that date.
AlixPartners, the Respondents, and state securities regulators have begun notifying eligible customers of the claims process. Individuals may submit claims directly to AlixPartners, who will then verify customers’ eligibility for the return of assets.
If you interacted with GS Partners, you might be a claimant. You can start gathering documentation now to ensure a smooth claims process. The CSI recommends that potential claimants collect the following information:
- Proof of identity (including name and address)
- Any Know Your Customer (KYC) materials submitted to GSB
- A copy of a valid national ID (license, passport, etc.)
- Email address
- Phone number
- GSB Account ID or username
- Claim amount
- All GSB statements
- Proof of deposits, withdrawals, and other GSB transactions
- All wallet addresses you used to interact with GSB
- GSB wallet addresses you interacted with
- Information about whether you have already sought or received compensation from GSB
In addition to Montana residents, residents in several other states may be eligible to file claims with AlixPartners. This proposed settlement results from coordinated efforts by securities regulators in those states and other jurisdictions through the North American Securities Administrators Association (NASAA). Although the claims process will allow repayments to investors, any final order must be approved by the Montana Commissioner of Securities and Insurance.
If you resided in Montana during the time of your GSB purchases or transactions, you may be eligible to claim a refund. If you did not reside in Montana, you may still be eligible. Please visit www.gsbsettlement.com/faq.html for a list of participating states.
If you have questions, email csi.securities@mt.gov or CSI Investigator Robert.Throneberry@mt.gov. Please include “GS Partners” or “GSB” in the subject line and provide your contact information.
The Montana State Auditor, Commissioner of Securities and Insurance, regulates the insurance and securities industries in Montana. The State Auditor is
also an ex officio member of the Montana Board of Land Commissioners. James Brown was elected Montana State Auditor in 2024.
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