GS Partners Accused of Metaverse Investment Fraud

GS Partners Accused of Metaverse Investment Fraud
фото показано с : nftnewstoday.com

2023-11-17 05:02

GS Partners, a company operating in the Web3 domain, is facing a wave of regulatory scrutiny across many U.S. states. Accusations levelled at GS Partners include violation of securities laws, false claims, and omissions regarding the sale of unregistered tokenized assets to retail investors.

The legal action instigated by regulators directly targets several entities under the GS Partners umbrella. These include GSB Gold Standard Bank Ltd., Swiss Valorem Bank Ltd., and GSB Gold Standard Corporation AG. GS Partners stands accused of marketing and selling an array of digital tokens linked to numerous assets.

Accusations of Misleading Promotion and Fraudulent Activities

Among the array of assets in question are a 36-story Dubai skyscraper, termed the “G999 Tower“, and digital tokens tied to a metaverse real estate project known as the Lydian World. While promoting these investments, GS Partners purportedly claimed they would yield “lucrative profits” and “generational wealth.” Further enhancing the appeal of their offerings, the company stated that its digital assets and blockchain technologies bear backing by gold.

Adding to the intrigue, GS Partners is also reported to have operated a multi-level marketing platform offering what they termed “MetaCertificates”. Authorities, however, allege that these offerings are merely part of a wider scope of investment fraud.

High-Profile Endorsements and State-Led Enforcement

Promoting these investments, the company allegedly enlisted the endorsements of high-profile athletes like boxer Floyd Mayweather Jr. and soccer player Roberto Carlos. Leading the charge in legal proceedings against GS Partners are jurisdictions such as California and Texas. Both of these states have ordered GS Partners to cease all operations promptly.

Other states including Alabama, Kentucky, New Jersey, Wisconsin, and more are similarly presenting allegations against GS Partners. The ultimate goal of these regulatory bodies is to halt the alleged fraudulent operations of GS Partners in an effort to mitigate any further harm to retail investors.

The post GS Partners Accused of Metaverse Investment Fraud appeared first on NFT News Today.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Intelligent Investment Chain (IIC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -79.71 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0001186 (-100%)

fraud partners metaverse investment accused case complicate

Источник: nftnewstoday.com

fraud partners → Результатов: 30


Фото:

Texas, Alabama securities regulators allege fraud against GS Partners in multiple crypto schemes

Securities regulators in Texas and Alabama have accused a group of companies tied to a metaverse real estate project of fraudulently raising millions from investors. The Texas State Securities Board last week issued an emergency cease and desist order against GS Partners, Swiss Valorem Bank, and several related entities controlled by Josip Heit.

2023-11-17 00:55


Фото:

Twitch bans, then unbans streamer after accusing him of fraud

A Twitch streamer named Craig “NBDxWilliams” Williams was recently banned from the streaming platform and then reinstated today. His struggles with the platform, and Twitch staff’s confusion over Williams’ streaming setup, shine a light on how Twitch flags potential problems — and how anyone who’s not streaming strictly games or podcasts might run into similar problems on the site.

2019-7-31 03:17


Фото:

Bitfinex Faces Legal Action From NY Attorney General: Here’s What This Means

The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $850 million.

2019-4-27 01:30


Фото:

As Court Reconvenes for QuadrigaCX, Questions Surround Empty Cold Wallets

As QuadrigaCX’s legal counsel descends on the courtroom in Halifax, Nova Scotia, for another round of legal proceedings, the court monitor’s third report on QuadrigaCX’s finances — specifically its revelation that the exchange’s cold wallets are empty — lays out some hopeful avenues for fund recovery — and some frustrating dead ends.

2019-3-5 20:20


Фото:

SBI Ripple Asia Partners with Payment Card Consortium in Japan To Combat Fraud

SBI Ripple Asia has recently partnered with the Japanese Payment Card Consortium to fight fraud with blockchain technology. According to BankingTech’s article published on November 22, 2018, the participating companies plan to prevent the damages caused by fraudulent transactions, by sharing data and information on a real-time basis along Corda, R3’s open-source blockchain platform.

2018-11-23 14:00


Task Force From Trump Administration Set to Crack Down on Crypto Crime

The U.S. government has created a task force to handle various cases of consumer fraud, including digital currency fraud, cyber-fraud, and money laundering. Enforcement will involve cooperation between an extensive number of government departments and agencies: The President’s order directs the Task Force to invite participation from our law enforcement partners at many departments and […]

2018-7-13 17:07


Task Force From Trump Administration Set to Crack Down on Crypto Crime

The U.S. government has created a task force to handle various cases of consumer fraud, including digital currency fraud, cyber-fraud, and money laundering. Enforcement will involve cooperation between an extensive number of government departments and agencies: The President’s order directs the Task Force to invite participation from our law enforcement partners at many departments and… The post Task Force From Trump Administration Set to Crack Down on Crypto Crime appeared first on UNHASHED.

2018-7-12 12:56


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

What is web 3? Understanding the next era of the internet

What is Web 3, and how does it differ from previous Internet versions? Let’s find out. Web 3, the next iteration of the internet, represents a crucial change in how we interact with online content and services.  Unlike its predecessor,…

How Inco and Privy are Changing the Game on Telegram

The future of blockchain gaming is here with Inco and Privy's partnership, bringing enhanced privacy and security to Telegram Mini Apps. The post How Inco and Privy are Changing the Game on Telegram appeared first on NFT News Today.

APhone and Magic Eden Partner for Access Pass NFT Sale

Experience the future of Web3 technology with APhone's Access Pass. Access demanding apps and games on any device, with unlimited capabilities. The post APhone and Magic Eden Partner for Access Pass NFT Sale appeared first on NFT News Today.